Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Monolithic Power Systems Inc., EBITDA calculation

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	427,374)	437,672)	242,023)	164,375)	108,839)
Add: Income tax expense	78,467)	87,265)	30,196)	4,967)	4,281)
Earnings before tax (EBT)	505,841)	524,937)	272,219)	169,342)	113,120)
Add: Interest expense	—)	—)	—)	—)	—)
Earnings before interest and tax (EBIT)	505,841)	524,937)	272,219)	169,342)	113,120)
Add: Depreciation and amortization	40,168)	37,114)	28,699)	19,186)	14,867)
Earnings before interest, tax, depreciation and amortization (EBITDA)	546,009)	562,051)	300,918)	188,528)	127,987)

Based on: 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), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Monolithic Power Systems Inc. EBITDA increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Enterprise Value to EBITDA Ratio, Current

Monolithic Power Systems Inc., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in thousands)
Enterprise value (EV)	28,983,385)
Earnings before interest, tax, depreciation and amortization (EBITDA)	546,009)
Valuation Ratio
EV/EBITDA	53.08
Benchmarks
EV/EBITDA, Competitors¹
Advanced Micro Devices Inc.	44.74
Analog Devices Inc.	25.98
Applied Materials Inc.	15.63
Broadcom Inc.	43.14
Intel Corp.	10.14
KLA Corp.	24.63
Lam Research Corp.	19.37
Micron Technology Inc.	10.83
NVIDIA Corp.	88.32
Qualcomm Inc.	15.07
Texas Instruments Inc.	18.58
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment	60.76
EV/EBITDA, Industry
Information Technology	36.61

Based on: 10-K (reporting date: 2023-12-31).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Enterprise Value to EBITDA Ratio, Historical

Monolithic Power Systems Inc., historical EV/EBITDA calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in thousands)
Enterprise value (EV)¹	33,896,186)	22,113,280)	20,736,031)	17,153,737)	6,620,264)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	546,009)	562,051)	300,918)	188,528)	127,987)
Valuation Ratio
EV/EBITDA³	62.08	39.34	68.91	90.99	51.73
Benchmarks
EV/EBITDA, Competitors⁴
Advanced Micro Devices Inc.	65.81	22.63	34.19	62.10	82.59
Analog Devices Inc.	15.56	16.23	38.55	23.61	18.67
Applied Materials Inc.	15.75	11.04	17.54	16.82	14.60
Broadcom Inc.	26.42	13.54	19.72	18.89	16.32
Intel Corp.	18.96	6.20	6.02	6.40	8.73
KLA Corp.	15.67	14.97	19.26	18.10	14.14
Lam Research Corp.	15.36	11.36	16.94	18.35	10.69
Micron Technology Inc.	32.38	3.26	6.05	6.46	3.90
NVIDIA Corp.	95.69	57.58	58.98	52.92	21.08
Qualcomm Inc.	12.82	7.84	12.76	19.49	10.55
Texas Instruments Inc.	16.36	14.69	15.54	21.75	17.73
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment	26.77	14.62	15.67	14.89	—
EV/EBITDA, Industry
Information Technology	23.49	18.19	20.35	19.58	—

Based on: 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), 10-K (reporting date: 2019-12-31).

¹ See details »

² See details »

³ 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 33,896,186 ÷ 546,009 = 62.08

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Monolithic Power Systems Inc. EV/EBITDA ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Monolithic Power Systems Inc. (NASDAQ:MPWR)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical