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DCF valuation

What is Monolithic Power Systems, Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Monolithic Power Systems, Inc.'s reported free cash flow gives $467.22 per share. The share price was $1,354.94 on November 10, 2026, 190% above that value.

Inputs from the filings

Free cash flow, fiscal 2025
$666.2M
Average free cash flow, last 5 years
$460.5M
Cash
$560.5M
balance sheet of September 30, 2026
Debt
$0
not reported, counted as 0
Diluted shares, fiscal 2025
48,309,000
Revenue growth per year, last 5 years
27.0%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear10.0%6.0%2.0%10.0%$288.44-79%
Base15.0%9.0%2.5%9.0%$467.22-66%
Bull20.0%11.5%3.0%8.0%$800.12-41%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$602.58$644.79$696.37$760.85$843.76
8.0%$500.90$528.27$560.61$599.43$646.87
9.0%$426.91$445.63$467.22$492.41$522.18
10.0%$370.82$384.12$399.21$416.44$436.33
11.0%$326.92$336.68$347.58$359.85$373.75

Where the presets come from

Base: years 1 to 5 grow at Monolithic Power Systems, Inc.'s revenue growth rate over the last 5 fiscal years (27.0% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Monolithic Power Systems, Inc. company page