Intrinsic value of Monolithic Power Systems - MPWR

Previous Close

$119.99

  Intrinsic Value

$46.29

stock screener

  Rating & Target

str. sell

-61%

Previous close

$119.99

 
Intrinsic value

$46.29

 
Up/down potential

-61%

 
Rating

str. sell

We calculate the intrinsic value of MPWR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  16.82
  21.70
  20.03
  18.53
  17.17
  15.96
  14.86
  13.88
  12.99
  12.19
  11.47
  10.82
  10.24
  9.72
  9.24
  8.82
  8.44
  8.09
  7.79
  7.51
  7.26
  7.03
  6.83
  6.64
  6.48
  6.33
  6.20
  6.08
  5.97
  5.87
  5.79
Revenue, $m
  389
  473
  568
  674
  789
  915
  1,051
  1,197
  1,352
  1,517
  1,691
  1,874
  2,066
  2,267
  2,477
  2,695
  2,922
  3,159
  3,405
  3,661
  3,926
  4,202
  4,489
  4,787
  5,098
  5,420
  5,756
  6,106
  6,471
  6,851
  7,248
Variable operating expenses, $m
 
  355
  426
  505
  592
  686
  788
  897
  1,014
  1,137
  1,268
  1,404
  1,548
  1,698
  1,855
  2,019
  2,190
  2,367
  2,551
  2,743
  2,942
  3,148
  3,363
  3,587
  3,819
  4,061
  4,313
  4,575
  4,848
  5,133
  5,430
Fixed operating expenses, $m
 
  44
  45
  46
  47
  49
  50
  51
  52
  54
  55
  56
  58
  59
  61
  62
  64
  65
  67
  69
  70
  72
  74
  76
  78
  80
  82
  84
  86
  88
  90
Total operating expenses, $m
  334
  399
  471
  551
  639
  735
  838
  948
  1,066
  1,191
  1,323
  1,460
  1,606
  1,757
  1,916
  2,081
  2,254
  2,432
  2,618
  2,812
  3,012
  3,220
  3,437
  3,663
  3,897
  4,141
  4,395
  4,659
  4,934
  5,221
  5,520
Operating income, $m
  54
  74
  97
  122
  150
  180
  213
  248
  286
  326
  368
  414
  460
  509
  560
  614
  669
  727
  787
  849
  914
  982
  1,052
  1,125
  1,201
  1,280
  1,362
  1,448
  1,537
  1,630
  1,727
EBITDA, $m
  69
  92
  118
  147
  179
  213
  251
  292
  335
  381
  429
  480
  534
  590
  649
  710
  773
  839
  908
  980
  1,054
  1,131
  1,212
  1,295
  1,382
  1,473
  1,567
  1,665
  1,768
  1,874
  1,986
Interest expense (income), $m
  0
  0
  1
  1
  2
  3
  4
  5
  6
  7
  8
  9
  11
  12
  14
  15
  17
  18
  20
  22
  24
  25
  27
  29
  32
  34
  36
  39
  41
  44
  46
Earnings before tax, $m
  57
  74
  96
  121
  148
  177
  209
  244
  280
  319
  360
  404
  450
  497
  547
  599
  653
  709
  767
  828
  891
  956
  1,024
  1,095
  1,169
  1,246
  1,326
  1,409
  1,496
  1,587
  1,681
Tax expense, $m
  4
  20
  26
  33
  40
  48
  57
  66
  76
  86
  97
  109
  121
  134
  148
  162
  176
  191
  207
  223
  240
  258
  277
  296
  316
  336
  358
  380
  404
  428
  454
Net income, $m
  53
  54
  70
  88
  108
  129
  153
  178
  205
  233
  263
  295
  328
  363
  399
  437
  476
  517
  560
  604
  650
  698
  748
  800
  853
  909
  968
  1,029
  1,092
  1,158
  1,227

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  268
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  511
  296
  355
  421
  493
  572
  657
  748
  845
  948
  1,056
  1,171
  1,291
  1,416
  1,547
  1,683
  1,825
  1,973
  2,127
  2,286
  2,452
  2,625
  2,804
  2,990
  3,184
  3,386
  3,596
  3,814
  4,042
  4,279
  4,527
Adjusted assets (=assets-cash), $m
  243
  296
  355
  421
  493
  572
  657
  748
  845
  948
  1,056
  1,171
  1,291
  1,416
  1,547
  1,683
  1,825
  1,973
  2,127
  2,286
  2,452
  2,625
  2,804
  2,990
  3,184
  3,386
  3,596
  3,814
  4,042
  4,279
  4,527
Revenue / Adjusted assets
  1.601
  1.598
  1.600
  1.601
  1.600
  1.600
  1.600
  1.600
  1.600
  1.600
  1.601
  1.600
  1.600
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
  1.601
Average production assets, $m
  79
  96
  115
  137
  160
  186
  213
  243
  275
  308
  343
  380
  419
  460
  503
  547
  593
  641
  691
  743
  797
  853
  911
  972
  1,035
  1,100
  1,169
  1,240
  1,314
  1,391
  1,471
Working capital, $m
  330
  75
  90
  107
  125
  146
  167
  190
  215
  241
  269
  298
  329
  360
  394
  429
  465
  502
  541
  582
  624
  668
  714
  761
  811
  862
  915
  971
  1,029
  1,089
  1,152
Total debt, $m
  0
  17
  37
  58
  82
  108
  136
  166
  198
  232
  268
  305
  345
  386
  429
  474
  521
  569
  620
  672
  727
  784
  843
  904
  968
  1,034
  1,103
  1,175
  1,250
  1,328
  1,409
Total liabilities, $m
  80
  97
  117
  138
  162
  188
  216
  246
  278
  312
  348
  385
  425
  466
  509
  554
  601
  649
  700
  752
  807
  864
  923
  984
  1,048
  1,114
  1,183
  1,255
  1,330
  1,408
  1,489
Total equity, $m
  431
  198
  238
  282
  331
  384
  441
  502
  567
  636
  709
  786
  866
  950
  1,038
  1,130
  1,225
  1,324
  1,427
  1,534
  1,646
  1,761
  1,881
  2,006
  2,136
  2,272
  2,413
  2,559
  2,712
  2,871
  3,038
Total liabilities and equity, $m
  511
  295
  355
  420
  493
  572
  657
  748
  845
  948
  1,057
  1,171
  1,291
  1,416
  1,547
  1,684
  1,826
  1,973
  2,127
  2,286
  2,453
  2,625
  2,804
  2,990
  3,184
  3,386
  3,596
  3,814
  4,042
  4,279
  4,527
Debt-to-equity ratio
  0.000
  0.090
  0.150
  0.210
  0.250
  0.280
  0.310
  0.330
  0.350
  0.360
  0.380
  0.390
  0.400
  0.410
  0.410
  0.420
  0.420
  0.430
  0.430
  0.440
  0.440
  0.440
  0.450
  0.450
  0.450
  0.460
  0.460
  0.460
  0.460
  0.460
  0.460
Adjusted equity ratio
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671
  0.671

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  53
  54
  70
  88
  108
  129
  153
  178
  205
  233
  263
  295
  328
  363
  399
  437
  476
  517
  560
  604
  650
  698
  748
  800
  853
  909
  968
  1,029
  1,092
  1,158
  1,227
Depreciation, amort., depletion, $m
  15
  18
  21
  25
  29
  33
  38
  43
  49
  55
  61
  67
  74
  81
  88
  96
  104
  113
  121
  130
  140
  150
  160
  170
  182
  193
  205
  217
  230
  244
  258
Funds from operations, $m
  105
  72
  91
  113
  137
  163
  191
  221
  253
  288
  324
  362
  402
  444
  487
  533
  580
  630
  681
  735
  790
  848
  908
  970
  1,035
  1,103
  1,173
  1,246
  1,323
  1,402
  1,485
Change in working capital, $m
  -3
  13
  15
  17
  18
  20
  22
  23
  25
  26
  28
  29
  31
  32
  33
  35
  36
  38
  39
  41
  42
  44
  46
  47
  49
  51
  53
  56
  58
  60
  63
Cash from operations, $m
  108
  58
  76
  96
  118
  143
  169
  198
  229
  262
  296
  333
  371
  412
  454
  498
  544
  592
  642
  694
  748
  804
  862
  923
  986
  1,051
  1,119
  1,190
  1,265
  1,342
  1,422
Maintenance CAPEX, $m
  0
  -14
  -17
  -20
  -24
  -28
  -33
  -37
  -43
  -48
  -54
  -60
  -67
  -74
  -81
  -88
  -96
  -104
  -113
  -121
  -130
  -140
  -150
  -160
  -170
  -182
  -193
  -205
  -217
  -230
  -244
New CAPEX, $m
  -37
  -17
  -19
  -21
  -23
  -26
  -28
  -30
  -32
  -33
  -35
  -37
  -39
  -41
  -43
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -58
  -61
  -63
  -66
  -68
  -71
  -74
  -77
  -80
Cash from investing activities, $m
  -56
  -31
  -36
  -41
  -47
  -54
  -61
  -67
  -75
  -81
  -89
  -97
  -106
  -115
  -124
  -132
  -142
  -152
  -163
  -173
  -184
  -196
  -208
  -221
  -233
  -248
  -261
  -276
  -291
  -307
  -324
Free cash flow, $m
  52
  27
  40
  54
  71
  89
  109
  131
  155
  180
  207
  235
  266
  297
  331
  366
  402
  440
  480
  521
  564
  608
  654
  702
  752
  804
  858
  914
  973
  1,034
  1,098
Issuance/(repayment) of debt, $m
  0
  17
  19
  22
  24
  26
  28
  30
  32
  34
  36
  38
  39
  41
  43
  45
  47
  49
  51
  53
  55
  57
  59
  61
  64
  66
  69
  72
  75
  78
  81
Issuance/(repurchase) of shares, $m
  4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  5
  17
  19
  22
  24
  26
  28
  30
  32
  34
  36
  38
  39
  41
  43
  45
  47
  49
  51
  53
  55
  57
  59
  61
  64
  66
  69
  72
  75
  78
  81
Total cash flow (excl. dividends), $m
  55
  44
  59
  76
  95
  115
  137
  161
  187
  214
  243
  273
  305
  339
  374
  411
  449
  489
  530
  573
  618
  665
  713
  764
  816
  870
  927
  986
  1,048
  1,112
  1,179
Retained Cash Flow (-), $m
  -62
  -35
  -40
  -44
  -48
  -53
  -57
  -61
  -65
  -69
  -73
  -77
  -80
  -84
  -88
  -92
  -95
  -99
  -103
  -107
  -111
  -116
  -120
  -125
  -130
  -135
  -141
  -147
  -153
  -159
  -166
Prev. year cash balance distribution, $m
 
  268
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  277
  20
  32
  46
  62
  80
  100
  121
  145
  170
  196
  225
  255
  286
  319
  354
  390
  427
  466
  507
  549
  593
  639
  686
  735
  786
  840
  895
  953
  1,013
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  266
  18
  28
  38
  48
  58
  67
  76
  83
  89
  93
  96
  97
  96
  94
  90
  85
  79
  72
  64
  57
  49
  42
  35
  29
  23
  18
  14
  10
  8
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Monolithic Power Systems, Inc. designs, develops and markets integrated power semiconductor solutions and power delivery architectures. The Company operates in the design, development, marketing and sale of power solutions for the communications, storage and computing, consumer and industrial markets segment. The Company's product families include Direct Current (DC) to DC Products, and Lighting Control Products. The Company's DC to DC integrated circuits (ICs) are used to convert and control voltages within a range of electronic systems, such as portable electronic devices, wireless local area network (LAN) access points, computers, monitors, automobiles and medical equipment. Lighting control ICs are used in backlighting and general illumination products. In addition to Alternating Current (AC)/DC offline solutions for lighting illumination applications, the Company also offers AC/DC power conversion solutions for end products that plug into a wall outlet.

FINANCIAL RATIOS  of  Monolithic Power Systems (MPWR)

Valuation Ratios
P/E Ratio 92.3
Price to Sales 12.6
Price to Book 11.4
Price to Tangible Book
Price to Cash Flow 45.3
Price to Free Cash Flow 68.9
Growth Rates
Sales Growth Rate 16.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 131.3%
Cap. Spend. - 3 Yr. Gr. Rate 18.3%
Financial Strength
Quick Ratio NaN
Current Ratio 0.2
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 11.3%
Ret/ On Assets - 3 Yr. Avg. 9.6%
Return On Total Capital 13.3%
Ret/ On T. Cap. - 3 Yr. Avg. 11.2%
Return On Equity 13.3%
Return On Equity - 3 Yr. Avg. 11.2%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 54.2%
Gross Margin - 3 Yr. Avg. 54.1%
EBITDA Margin 18.5%
EBITDA Margin - 3 Yr. Avg. 17.5%
Operating Margin 14.1%
Oper. Margin - 3 Yr. Avg. 13.1%
Pre-Tax Margin 14.7%
Pre-Tax Margin - 3 Yr. Avg. 13.3%
Net Profit Margin 13.6%
Net Profit Margin - 3 Yr. Avg. 12.2%
Effective Tax Rate 7%
Eff/ Tax Rate - 3 Yr. Avg. 8.8%
Payout Ratio 62.3%

MPWR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MPWR stock intrinsic value calculation we used $389 million for the last fiscal year's total revenue generated by Monolithic Power Systems. The default revenue input number comes from 2016 income statement of Monolithic Power Systems. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MPWR stock valuation model: a) initial revenue growth rate of 21.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MPWR is calculated based on our internal credit rating of Monolithic Power Systems, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Monolithic Power Systems.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MPWR stock the variable cost ratio is equal to 75.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $43 million in the base year in the intrinsic value calculation for MPWR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Monolithic Power Systems.

Corporate tax rate of 27% is the nominal tax rate for Monolithic Power Systems. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MPWR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MPWR are equal to 20.3%.

Life of production assets of 5.7 years is the average useful life of capital assets used in Monolithic Power Systems operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MPWR is equal to 15.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $431 million for Monolithic Power Systems - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 41.83 million for Monolithic Power Systems is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Monolithic Power Systems at the current share price and the inputted number of shares is $5.0 billion.

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COMPANY NEWS

▶ Top-Rated Stocks: Monolithic Power Systems Sees Composite Rating Climb To 96   [Jan-04-18 03:00AM  Investor's Business Daily]
▶ Monolithic Power Systems Shows Market Leadership With Jump To 83 RS Rating   [Jan-03-18 03:00AM  Investor's Business Daily]
▶ Monolithic Power Systems Announces Fourth Quarter Dividend   [Dec-14-17 04:19PM  GlobeNewswire]
▶ Chips That Stay Crisp: Nvidia, Monolithic Look Like Buys   [Dec-08-17 03:27PM  Barrons.com]
▶ Should You Get Rid of CenturyLink (CTL) Now?   [Nov-15-17 08:36AM  Zacks]
▶ Monolithic tops Street 3Q forecasts   [Oct-26-17 07:41PM  Associated Press]
▶ MKS Instruments, Monolithic Power, ON Semiconductor Nab Price-Target Hikes   [Oct-24-17 05:28PM  Investor's Business Daily]
▶ Integrated Device Technology Sees IBD RS Rating Rise To 71   [03:00AM  Investor's Business Daily]
▶ Stocks With Rising Composite Ratings: Monolithic Power Systems   [Sep-19-17 03:00AM  Investor's Business Daily]
▶ Monolithic Power Systems Announces Third Quarter Dividend   [Sep-14-17 04:05PM  GlobeNewswire]
▶ Monolithic Power Systems Cheered After Earnings Beat   [Jul-27-17 04:23PM  Investor's Business Daily]
▶ Monolithic tops Street 2Q forecasts   [Jul-26-17 11:04PM  Associated Press]
▶ Chip-Gear Maker Lam Research Beats Views, Guides Higher   [05:45PM  Investor's Business Daily]
▶ Artificial Intelligence Could Be Another Catalyst For Broadcom   [Jun-29-17 04:19PM  Investor's Business Daily]
▶ Can This Chip Stock Power Up A Flickering Breakout?   [May-05-17 11:38AM  Investor's Business Daily]
▶ Chipmakers Cavium, Monolithic Power Systems Get Price-Target Hikes   [Apr-27-17 04:49PM  Investor's Business Daily]
▶ Monolithic beats Street 1Q forecasts   [Apr-26-17 05:24PM  Associated Press]
▶ Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks   [Apr-21-17 05:42PM  Investor's Business Daily]
▶ Monolithic Power Systems, Skyworks Called Buys Ahead Of Earnings   [Apr-20-17 04:41PM  Investor's Business Daily]
▶ AMD, Analog Get Analyst Boosts; Monolithic Power Still A Buy   [Mar-20-17 04:11PM  Investor's Business Daily]
▶ Nvidia Fall Stemmed By Reassuring Analyst Comments   [Feb-24-17 04:14PM  Investor's Business Daily]
Financial statements of MPWR
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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