Cirrus Logic vs Monolithic Power Systems
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KIRA’s take AI analyst
I put Cirrus Logic and Monolithic Power Systems side by side, using each one’s latest annual report. Here is what stands out:
- Monolithic Power Systems is the larger business, with $2.8B of revenue in fiscal 2025 against $2.0B for Cirrus Logic.
- Monolithic Power Systems grew revenue faster (26.4%, against 5.3%).
- Monolithic Power Systems kept more of each dollar of sales as operating profit (26.1% operating margin, against 23.1%).
- Cirrus Logic turned more of its sales into free cash flow (31.9% FCF margin, against 23.9%).
- Cirrus Logic earned a higher return on the capital invested in it (29.6%, against 27.1%).
- Investors pay more for each dollar of Monolithic Power Systems’s earnings: a P/E of 69.6x against 13.7x for Cirrus Logic.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Cirrus Logic
CRUS
6/11
FCF marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
Monolithic Power Systems
MPWR
5/11
Revenue growth5-year growthGross marginOperating marginNet margin
Side by side
Best in the row
| Latest fiscal year | CRUS FY26 | MPWR FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.9B | $56.2B |
| Revenue | $2.0B | $2.8B |
| Free cash flow | $637M | $666M |
| Net income | $414M | $622M |
| Growth | ||
| Revenue growth | 5.3% | 26.4% |
| 5-year growth | 7.8% | 27.0% |
| Share count change | −4.4% | −1.1% |
| Profitability | ||
| Gross margin | 52.8% | 55.2% |
| Operating margin | 23.1% | 26.1% |
| Net margin | 20.8% | 22.3% |
| FCF margin | 31.9% | 23.9% |
| Return on capital | 29.6% | 27.1% |
| Return on equity | 20.3% | 19.2% |
| Balance sheet | ||
| Net debt | −$888M | −$1.3B |
| Net debt / EBITDA | −1.7x | −1.6x |
| Dividends and buybacks | $280M | $291M |
| Valuation & quality | ||
| P/E | 13.7x | 69.6x |
| Piotroski F-score | 8 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.