Monolithic Power Systems

MPS ends 2024 with approximately 863 million of cash, cash equivalents and short‑term investments and no financial debt, producing robust free cash flow. Operating cash flow comfortably funds R&D, modest capex, dividends and buybacks.

The company’s asset‑light, fabless model limits fixed cost and capital intensity, and margins provide cushion in downturns. Key financial risks include distributor receivables concentration and Asia supply chain exposure, but overall balance sheet resilience is excellent.