Stock Analysis on Net

Monolithic Power Systems Inc. (NASDAQ:MPWR)

Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel

Short-term Activity Ratios (Summary)

Monolithic Power Systems Inc., short-term (operating) activity ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Turnover Ratios
Inventory turnover 2.35 2.08 1.67 2.01 2.41
Receivables turnover 12.79 10.13 9.82 11.52 12.63
Payables turnover 9.62 12.71 12.13 6.29 9.92
Working capital turnover 1.74 1.15 1.56 1.35 1.21
Average No. Days
Average inventory processing period 155 175 219 181 151
Add: Average receivable collection period 29 36 37 32 29
Operating cycle 184 211 256 213 180
Less: Average payables payment period 38 29 30 58 37
Cash conversion cycle 146 182 226 155 143

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Monolithic Power Systems Inc. inventory turnover ratio improved from 2022 to 2023 and from 2023 to 2024.
Receivables turnover An activity ratio equal to revenue divided by receivables. Monolithic Power Systems Inc. receivables turnover ratio improved from 2022 to 2023 and from 2023 to 2024.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Monolithic Power Systems Inc. payables turnover ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Monolithic Power Systems Inc. working capital turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Monolithic Power Systems Inc. number of days of inventory outstanding improved from 2022 to 2023 and from 2023 to 2024.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Monolithic Power Systems Inc. number of days of receivables outstanding improved from 2022 to 2023 and from 2023 to 2024.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Monolithic Power Systems Inc. operating cycle improved from 2022 to 2023 and from 2023 to 2024.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Monolithic Power Systems Inc. number of days of payables outstanding decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Monolithic Power Systems Inc. cash conversion cycle improved from 2022 to 2023 and from 2023 to 2024.

Inventory Turnover

Monolithic Power Systems Inc., inventory turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in thousands)
Cost of revenue 986,230 799,953 745,596 522,339 378,498
Inventories 419,611 383,702 447,290 259,417 157,062
Short-term Activity Ratio
Inventory turnover1 2.35 2.08 1.67 2.01 2.41
Benchmarks
Inventory Turnover, Competitors2
Advanced Micro Devices Inc. 2.28 2.81 3.45 4.35 3.87
Analog Devices Inc. 2.79 2.70 3.20 2.33 3.14
Applied Materials Inc. 2.63 2.47 2.33 2.82 2.44
Broadcom Inc. 10.83 5.86 5.77 8.18 10.34
Intel Corp. 2.93 2.92 2.74 3.27 4.06
KLA Corp. 1.29 1.47 1.67 1.76 1.87
Lam Research Corp. 1.86 2.00 2.36 2.91 2.86
Micron Technology Inc. 2.20 2.02 2.53 3.85 2.65
NVIDIA Corp. 3.15 2.25 3.62 3.44 4.24
Qualcomm Inc. 2.66 2.47 2.94 4.42 3.56
Texas Instruments Inc. 1.45 1.63 2.27 3.12 2.66
Inventory Turnover, Sector
Semiconductors & Semiconductor Equipment 2.67 2.47 2.80 3.50 3.46
Inventory Turnover, Industry
Information Technology 7.86 8.01 8.61 10.44 11.17

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Inventory turnover = Cost of revenue ÷ Inventories
= 986,230 ÷ 419,611 = 2.35

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Monolithic Power Systems Inc. inventory turnover ratio improved from 2022 to 2023 and from 2023 to 2024.

Receivables Turnover

Monolithic Power Systems Inc., receivables turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in thousands)
Revenue 2,207,100 1,821,072 1,794,148 1,207,798 844,452
Accounts receivable, net 172,518 179,858 182,714 104,813 66,843
Short-term Activity Ratio
Receivables turnover1 12.79 10.13 9.82 11.52 12.63
Benchmarks
Receivables Turnover, Competitors2
Advanced Micro Devices Inc. 4.16 5.25 5.72 6.07 4.73
Analog Devices Inc. 7.05 8.37 6.67 5.02 7.60
Applied Materials Inc. 5.19 5.13 4.25 4.66 5.81
Broadcom Inc. 11.68 11.36 11.22 13.25 10.40
Intel Corp. 15.27 15.94 15.26 8.36 11.48
KLA Corp. 5.35 5.99 5.08 5.30 5.24
Lam Research Corp. 5.92 6.17 3.99 4.83 4.79
Micron Technology Inc. 4.63 7.59 6.45 5.63 6.13
NVIDIA Corp. 6.09 7.05 5.79 6.86 6.59
Qualcomm Inc. 16.60 18.63 10.59 15.16 8.76
Texas Instruments Inc. 9.10 9.80 10.57 10.78 10.23
Receivables Turnover, Sector
Semiconductors & Semiconductor Equipment 7.49 8.70 7.53 7.49 8.09
Receivables Turnover, Industry
Information Technology 6.98 7.46 7.43 7.53 7.92

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Receivables turnover = Revenue ÷ Accounts receivable, net
= 2,207,100 ÷ 172,518 = 12.79

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Monolithic Power Systems Inc. receivables turnover ratio improved from 2022 to 2023 and from 2023 to 2024.

Payables Turnover

Monolithic Power Systems Inc., payables turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in thousands)
Cost of revenue 986,230 799,953 745,596 522,339 378,498
Accounts payable 102,526 62,958 61,461 83,027 38,169
Short-term Activity Ratio
Payables turnover1 9.62 12.71 12.13 6.29 9.92
Benchmarks
Payables Turnover, Competitors2
Advanced Micro Devices Inc. 6.56 5.95 5.21 6.44 11.57
Analog Devices Inc. 8.30 8.98 7.70 6.30 8.42
Applied Materials Inc. 9.09 9.56 7.86 8.25 8.46
Broadcom Inc. 11.47 9.20 11.13 9.77 12.41
Intel Corp. 2.85 3.79 3.77 6.13 6.14
KLA Corp. 10.93 11.37 8.10 8.10 9.27
Lam Research Corp. 12.79 20.50 9.25 9.43 9.18
Micron Technology Inc. 7.15 9.83 7.87 9.91 6.79
NVIDIA Corp. 6.16 9.74 5.29 5.23 6.04
Qualcomm Inc. 6.60 8.30 4.91 5.19 4.12
Texas Instruments Inc. 7.98 8.10 7.35 10.45 12.51
Payables Turnover, Sector
Semiconductors & Semiconductor Equipment 5.63 6.88 5.62 7.06 7.03
Payables Turnover, Industry
Information Technology 4.27 4.79 4.25 4.63 4.91

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Payables turnover = Cost of revenue ÷ Accounts payable
= 986,230 ÷ 102,526 = 9.62

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Monolithic Power Systems Inc. payables turnover ratio increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Working Capital Turnover

Monolithic Power Systems Inc., working capital turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in thousands)
Current assets 1,565,053 1,819,499 1,410,619 1,124,852 841,998
Less: Current liabilities 294,567 235,035 263,400 226,944 146,969
Working capital 1,270,486 1,584,464 1,147,219 897,908 695,029
 
Revenue 2,207,100 1,821,072 1,794,148 1,207,798 844,452
Short-term Activity Ratio
Working capital turnover1 1.74 1.15 1.56 1.35 1.21
Benchmarks
Working Capital Turnover, Competitors2
Advanced Micro Devices Inc. 2.19 2.25 2.73 3.78 2.62
Analog Devices Inc. 3.78 10.40 4.81 2.81 4.86
Applied Materials Inc. 2.13 2.25 3.02 2.36 1.93
Broadcom Inc. 17.80 2.66 2.90 2.66 4.32
Intel Corp. 4.55 3.56 3.45 2.61 3.46
KLA Corp. 1.83 2.27 2.14 1.93 1.92
Lam Research Corp. 1.74 1.93 2.23 1.80 1.31
Micron Technology Inc. 1.66 0.94 2.16 2.05 1.89
NVIDIA Corp. 1.81 1.63 1.10 1.37 0.92
Qualcomm Inc. 2.65 2.79 4.99 4.13 2.39
Texas Instruments Inc. 1.37 1.48 1.81 1.65 1.84
Working Capital Turnover, Sector
Semiconductors & Semiconductor Equipment 2.54 2.22 2.54 2.37 2.35
Working Capital Turnover, Industry
Information Technology 8.94 5.77 6.47 4.33 3.30

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Working capital turnover = Revenue ÷ Working capital
= 2,207,100 ÷ 1,270,486 = 1.74

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Monolithic Power Systems Inc. working capital turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Average Inventory Processing Period

Monolithic Power Systems Inc., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data
Inventory turnover 2.35 2.08 1.67 2.01 2.41
Short-term Activity Ratio (no. days)
Average inventory processing period1 155 175 219 181 151
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Advanced Micro Devices Inc. 160 130 106 84 94
Analog Devices Inc. 131 135 114 157 116
Applied Materials Inc. 139 148 157 129 150
Broadcom Inc. 34 62 63 45 35
Intel Corp. 125 125 133 112 90
KLA Corp. 282 249 218 207 195
Lam Research Corp. 196 182 155 126 128
Micron Technology Inc. 166 181 144 95 138
NVIDIA Corp. 116 162 101 106 86
Qualcomm Inc. 137 148 124 83 102
Texas Instruments Inc. 252 225 161 117 137
Average Inventory Processing Period, Sector
Semiconductors & Semiconductor Equipment 136 148 130 104 106
Average Inventory Processing Period, Industry
Information Technology 46 46 42 35 33

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 2.35 = 155

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Monolithic Power Systems Inc. number of days of inventory outstanding improved from 2022 to 2023 and from 2023 to 2024.

Average Receivable Collection Period

Monolithic Power Systems Inc., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data
Receivables turnover 12.79 10.13 9.82 11.52 12.63
Short-term Activity Ratio (no. days)
Average receivable collection period1 29 36 37 32 29
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Advanced Micro Devices Inc. 88 70 64 60 77
Analog Devices Inc. 52 44 55 73 48
Applied Materials Inc. 70 71 86 78 63
Broadcom Inc. 31 32 33 28 35
Intel Corp. 24 23 24 44 32
KLA Corp. 68 61 72 69 70
Lam Research Corp. 62 59 91 76 76
Micron Technology Inc. 79 48 57 65 59
NVIDIA Corp. 60 52 63 53 55
Qualcomm Inc. 22 20 34 24 42
Texas Instruments Inc. 40 37 35 34 36
Average Receivable Collection Period, Sector
Semiconductors & Semiconductor Equipment 49 42 48 49 45
Average Receivable Collection Period, Industry
Information Technology 52 49 49 48 46

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 12.79 = 29

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Monolithic Power Systems Inc. number of days of receivables outstanding improved from 2022 to 2023 and from 2023 to 2024.

Operating Cycle

Monolithic Power Systems Inc., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data
Average inventory processing period 155 175 219 181 151
Average receivable collection period 29 36 37 32 29
Short-term Activity Ratio
Operating cycle1 184 211 256 213 180
Benchmarks
Operating Cycle, Competitors2
Advanced Micro Devices Inc. 248 200 170 144 171
Analog Devices Inc. 183 179 169 230 164
Applied Materials Inc. 209 219 243 207 213
Broadcom Inc. 65 94 96 73 70
Intel Corp. 149 148 157 156 122
KLA Corp. 350 310 290 276 265
Lam Research Corp. 258 241 246 202 204
Micron Technology Inc. 245 229 201 160 197
NVIDIA Corp. 176 214 164 159 141
Qualcomm Inc. 159 168 158 107 144
Texas Instruments Inc. 292 262 196 151 173
Operating Cycle, Sector
Semiconductors & Semiconductor Equipment 185 190 178 153 151
Operating Cycle, Industry
Information Technology 98 95 91 83 79

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 155 + 29 = 184

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Monolithic Power Systems Inc. operating cycle improved from 2022 to 2023 and from 2023 to 2024.

Average Payables Payment Period

Monolithic Power Systems Inc., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data
Payables turnover 9.62 12.71 12.13 6.29 9.92
Short-term Activity Ratio (no. days)
Average payables payment period1 38 29 30 58 37
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Advanced Micro Devices Inc. 56 61 70 57 32
Analog Devices Inc. 44 41 47 58 43
Applied Materials Inc. 40 38 46 44 43
Broadcom Inc. 32 40 33 37 29
Intel Corp. 128 96 97 60 59
KLA Corp. 33 32 45 45 39
Lam Research Corp. 29 18 39 39 40
Micron Technology Inc. 51 37 46 37 54
NVIDIA Corp. 59 37 69 70 60
Qualcomm Inc. 55 44 74 70 89
Texas Instruments Inc. 46 45 50 35 29
Average Payables Payment Period, Sector
Semiconductors & Semiconductor Equipment 65 53 65 52 52
Average Payables Payment Period, Industry
Information Technology 85 76 86 79 74

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 9.62 = 38

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Monolithic Power Systems Inc. number of days of payables outstanding decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Cash Conversion Cycle

Monolithic Power Systems Inc., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data
Average inventory processing period 155 175 219 181 151
Average receivable collection period 29 36 37 32 29
Average payables payment period 38 29 30 58 37
Short-term Activity Ratio
Cash conversion cycle1 146 182 226 155 143
Benchmarks
Cash Conversion Cycle, Competitors2
Advanced Micro Devices Inc. 192 139 100 87 139
Analog Devices Inc. 139 138 122 172 121
Applied Materials Inc. 169 181 197 163 170
Broadcom Inc. 33 54 63 36 41
Intel Corp. 21 52 60 96 63
KLA Corp. 317 278 245 231 226
Lam Research Corp. 229 223 207 163 164
Micron Technology Inc. 194 192 155 123 143
NVIDIA Corp. 117 177 95 89 81
Qualcomm Inc. 104 124 84 37 55
Texas Instruments Inc. 246 217 146 116 144
Cash Conversion Cycle, Sector
Semiconductors & Semiconductor Equipment 120 137 113 101 99
Cash Conversion Cycle, Industry
Information Technology 13 19 5 4 5

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 155 + 2938 = 146

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Monolithic Power Systems Inc. cash conversion cycle improved from 2022 to 2023 and from 2023 to 2024.