Monolithic Power Systems (MEX:MPWR) Beneish M-Score : 0.16 (As of Apr. 07, 2025)

View and export this data going back to 2019. Start your Free Trial

What is Monolithic Power Systems Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Warning Sign:

Beneish M-Score 0.16 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Monolithic Power Systems's Beneish M-Score or its related term are showing as below:

MEX:MPWR' s Beneish M-Score Range Over the Past 10 Years
Min: -3.02 Med: -2.63 Max: 0.16
Current: 0.16

During the past 13 years, the highest Beneish M-Score of Monolithic Power Systems was 0.16. The lowest was -3.02. And the median was -2.63.

Monolithic Power Systems Beneish M-Score Historical Data

The historical data trend for Monolithic Power Systems's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Monolithic Power Systems Beneish M-Score Chart

Monolithic Power Systems Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

Get a 7-Day Free Trial

-2.62

-2.38

-0.99

-2.66

0.16

Monolithic Power Systems Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-2.66	-3.01	-3.25	-3.30	0.16

Competitive Comparison of Monolithic Power Systems's Beneish M-Score

For the Semiconductors subindustry, Monolithic Power Systems's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Monolithic Power Systems's Beneish M-Score Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Monolithic Power Systems's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Monolithic Power Systems's Beneish M-Score falls into.

Save Embed

;

Save Embed

;

Monolithic Power Systems Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Monolithic Power Systems for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.8603

0.528 * 1.0138

0.404 * 4.1681

0.892 * 1.3284

0.115 * 1.7014

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0624

4.679 * 0.285931

0.327 * 0.8603

0.43

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was MXN4,850 Mil.
Revenue was 12965.259 + 12210.329 + 9296.188 + 7599.176 = MXN42,071 Mil.
Gross Profit was 7182.87 + 6762.496 + 5140.218 + 4189.575 = MXN23,275 Mil.
Total Current Assets was MXN32,640 Mil.
Total Assets was MXN75,437 Mil.
Property, Plant and Equipment(Net PPE) was MXN11,036 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN692 Mil.
Selling, General, & Admin. Expense(SGA) was MXN6,767 Mil.
Total Current Liabilities was MXN6,143 Mil.
Long-Term Debt & Capital Lease Obligation was MXN271 Mil.
Net Income was 30227.48 + 2843.87 + 1838.715 + 1535.834 = MXN36,446 Mil.
Non Operating Income was -10.845 + 68.384 + 16.158 + 43.582 = MXN117 Mil.
Cash Flow from Operations was 3497.105 + 4562.302 + 2582.677 + 4116.718 = MXN14,759 Mil.

Total Receivables was MXN4,244 Mil.
Revenue was 7706.512 + 8271.659 + 7562.654 + 8130.447 = MXN31,671 Mil.
Gross Profit was 4262.624 + 4590.594 + 4246.115 + 4664.509 = MXN17,764 Mil.
Total Current Assets was MXN30,885 Mil.
Total Assets was MXN41,321 Mil.
Property, Plant and Equipment(Net PPE) was MXN6,263 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN698 Mil.
Selling, General, & Admin. Expense(SGA) was MXN4,795 Mil.
Total Current Liabilities was MXN3,990 Mil.
Long-Term Debt & Capital Lease Obligation was MXN94 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(4849.534 / 42070.952)	/	(4243.545 / 31671.272)
	=	0.11527	/	0.133987
	=	0.8603

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(17763.842 / 31671.272)	/	(23275.159 / 42070.952)
	=	0.560882	/	0.553236
	=	1.0138

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (32640.276 + 11035.648) / 75437.09)	/	(1 - (30884.627 + 6262.683) / 41321.312)
	=	0.421029	/	0.101013
	=	4.1681

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	42070.952	/	31671.272
	=	1.3284

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(698.451 / (698.451 + 6262.683))	/	(691.585 / (691.585 + 11035.648))
	=	0.100336	/	0.058973
	=	1.7014

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(6767.422 / 42070.952)	/	(4795.121 / 31671.272)
	=	0.160857	/	0.151403
	=	1.0624

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((270.582 + 6143.401) / 75437.09)	/	((94.462 + 3989.542) / 41321.312)
	=	0.085024	/	0.098835
	=	0.8603

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(36445.899 - 117.279	-	14758.802)	/	75437.09
	=	0.285931

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Monolithic Power Systems has a M-score of 0.43 signals that the company is likely to be a manipulator.

Monolithic Power Systems Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Monolithic Power Systems's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Monolithic Power Systems Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Monolithic Power Systems Inc (MEX:MPWR) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

MPWR:USA NQG:Germany

Address

5808 Lake Washington Boulevard NE, Kirkland, WA, USA, 98033

Website

https://www.monolithicpower.com

Monolithic Power Systems is an analog and mixed-signal chipmaker, specializing in power management solutions. The firm's mission is to reduce total energy consumption in end systems, and it serves the computing, automotive, industrial, communications, and consumer end markets. MPS uses a fabless manufacturing model, partnering with third-party chip foundries to host its proprietary BCD process technology.