ATLAS
MPWR

Monolithic Power Systems

High-growth Infrastructure Bet
AI accelerators · GPUs · ASICs·US·Kirkland, WA·#9 / 14 in segment·0.4% of segment mcap
$1553.27
101.7% vs S&P 12m

Analog and power-management IC supplier with leading position in GPU board power delivery, including NVIDIA H100/B100 attach.

Power delivery for high-density GPUs is non-trivial; MPWR captures dollar content per board that grows with GPU TDP.

Products
  • DC-DC controllers
  • Power modules
  • Battery management
Customers (3)
  • NVIDIA
  • Automotive Tier-1s
  • Telecom OEMs
Competitors (3)
  • Texas Instruments
  • Renesas
  • Infineon

Composite score

Higher = stronger overall research case

61
Fundamental73
Technical84
Valuation20
AI relevance70
Risk-adjusted (higher = safer)41
Segment-relative fundamental percentile: 70

Synthetic 1Y price action

Deterministic price series; 50d (yellow) and 200d (orange) MAs shown

3M RS: 23.9%6M RS: 61.8%12M RS: 101.7%Vol30d: 50%DD52w: -6.5%

Financial summary

Curated, illustrative

Revenue
$2.96B
Growth (YoY)
26.1%
Gross margin
55.2%
Operating margin
30.0%
FCF
$491.72M
Capex
$340.35M
Net cash / (debt)
$1.35B
ROIC
12.1%
Customer conc.
Medium

Valuation

Market cap
$76.31B
Enterprise value
$74.97B
P/E (TTM)
111.1x
Forward P/E
51.5x
EV / Sales
25.4x
EV / EBITDA
87.5x
P / FCF
155.2x
PEG
2.0x
Rule of 40

Risks

Severity 1 (low) to 5 (severe)

  • 4
    NVIDIA design-win concentration
  • 4
    Premium valuation

Score components

What drove the composite

Growth80
Profitability83
Cash generation64
Balance sheet90
Moat / AI relevance75
Capital intensity (higher = lighter)56
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)95
Momentum (3/6/12m)80
Relative strength100
Realized vol (higher = lower vol)41