Filing Flows › Monolithic Power Systems (MPWR) › Q4 2025
Monolithic Power Systems (MPWR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Monolithic Power Systems (MPWR) reported revenue of $751M for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and +2% from the quarter before. Operating margin was 26.6%, net earnings $172M (22.9% of revenue).
Monolithic Power Systems, Q4 2025: revenue $751M (+21% year over year), operating margin 26.6%, net earnings $172M, operating cash flow $105M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $751M | +2% | +21% |
| Gross profit | $414M | +2% | +20% |
| Operating profit | $200M | +2% | +22% |
| Net earnings | $172M | -5% | -86% |
| Operating cash flow | $105M | -56% | -37% |
| Free cash flow | $63.9M | -68% | -38% |
What changed
Revenue was $751.2M in Q4 2025, up 21% year over year and up 2% from the previous quarter.
Gross margin was 55.2%, down 0.3 points from a year earlier. Operating profit was $199.9M, a 26.6% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 28% reached operating profit, above the 26% margin then. Operating expenses grew 18% against revenue growth of 21%. The fastest-growing cost line was SG&A (+25%). Net earnings were $171.7M, down 86% year over year. The effective tax rate was 18.2%.
Operating cash flow was $104.9M (down 37% year over year), 61% of net earnings. Non-cash charges added back $14.2M of depreciation and amortization and $53.9M of share-based compensation. Working capital and other items used $134.9M. Capital expenditures of $41.0M left free cash flow of $63.9M.
Questions
What was Monolithic Power Systems' revenue in the fourth quarter 2025?
Monolithic Power Systems (MPWR) reported revenue of $751M for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and +2% from the quarter before.
Was Monolithic Power Systems profitable in the fourth quarter 2025?
Operating profit was $200M (26.6% of revenue) and net earnings $172M.