$Monolithic Power Systems (MPWR.US)$In the March 2022 analys...

Launched in 2004, it is mainly engaged in power management business. The main market is in China. The current price is 743.6.

Revenue has continued to grow over the past 5 years, with an average growth rate of 25.6%. The growth rate fell to 1.5% in 2023. Operating profit contracted in the first and last two years due to gross margin and expenses, with an average growth rate of 33%, a contraction of 9.9% in 2023, and an average net profit growth rate of 32.3%. There have been no interest burdens for almost 5 years. The gross margin has basically been around 56% in the past 5 years, and the return on net assets fell back to 23% after increasing from 15.4% to 30%.

Currently, the price-earnings ratio is 84.9, and the valuation is too high compared to the long-term growth rate. Considering the recent contraction trend, we will wait and see.