Monolithic Power Systems vs Skyworks Solutions
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KIRA’s take AI analyst
I put Monolithic Power Systems and Skyworks Solutions side by side, using each one’s latest annual report. Here is what stands out:
- Skyworks Solutions is the larger business, with $4.1B of revenue in fiscal 2025 against $2.8B for Monolithic Power Systems.
- Monolithic Power Systems grew revenue faster (26.4%, against −2.2%).
- Monolithic Power Systems kept more of each dollar of sales as operating profit (26.1% operating margin, against 12.2%).
- Skyworks Solutions turned more of its sales into free cash flow (27.1% FCF margin, against 23.9%).
- Monolithic Power Systems earned a higher return on the capital invested in it (27.1%, against 8.5%).
- Investors pay more for each dollar of Monolithic Power Systems’s earnings: a P/E of 69.6x against 43.2x for Skyworks Solutions.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Monolithic Power Systems
MPWR
8/11
Revenue growth5-year growthGross marginOperating marginNet marginReturn on capitalReturn on equityNet debt / EBITDA
Skyworks Solutions
SWKS
2/11
FCF marginShare count change
Side by side
Best in the row
| Latest fiscal year | MPWR FY25 | SWKS FY25 |
|---|---|---|
| Size | ||
| Market cap | $56.2B | $12.6B |
| Revenue | $2.8B | $4.1B |
| Free cash flow | $666M | $1.1B |
| Net income | $622M | $477M |
| Growth | ||
| Revenue growth | 26.4% | −2.2% |
| 5-year growth | 27.0% | 4.0% |
| Share count change | −1.1% | −4.0% |
| Profitability | ||
| Gross margin | 55.2% | 41.2% |
| Operating margin | 26.1% | 12.2% |
| Net margin | 22.3% | 11.7% |
| FCF margin | 23.9% | 27.1% |
| Return on capital | 27.1% | 8.5% |
| Return on equity | 19.2% | 7.9% |
| Balance sheet | ||
| Net debt | −$1.3B | −$878M |
| Net debt / EBITDA | −1.6x | −0.9x |
| Dividends and buybacks | $291M | $1.3B |
| Valuation & quality | ||
| P/E | 69.6x | 43.2x |
| Piotroski F-score | 5 | 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.