Discounted Cash Flow (DCF) Analysis Levered
Monolithic Power Systems, Inc. (MPWR)
$496.325
+6.42 (+1.31%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 582.38 | 627.92 | 844.45 | 1,207.80 | 1,794.15 | 2,394.64 | 3,196.11 | 4,265.83 | 5,693.58 | 7,599.19 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 141.45 | 216.30 | 267.80 | 320.01 | 246.67 | 625.93 | 835.42 | 1,115.03 | 1,488.22 | 1,986.32 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -22.53 | -96.79 | -55.64 | -95.24 | -58.84 | -177.37 | -236.74 | -315.97 | -421.73 | -562.88 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 118.93 | 119.52 | 212.16 | 224.77 | 187.83 | 448.55 | 598.68 | 799.06 | 1,066.49 | 1,423.44 |
Weighted Average Cost Of Capital
| Share price | $ 496.325 |
|---|---|
| Beta | 1.134 |
| Diluted Shares Outstanding | 47.85 |
| Cost of Debt | |
| Tax Rate | 16.62 |
| After-tax Cost of Debt | 4.17% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.965 |
| Total Debt | - |
| Total Equity | 23,750.14 |
| Total Capital | 23,750.14 |
| Debt Weighting | 0.00 |
| Equity Weighting | 100.00 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 582.38 | 627.92 | 844.45 | 1,207.80 | 1,794.15 | 2,394.64 | 3,196.11 | 4,265.83 | 5,693.58 | 7,599.19 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 141.45 | 216.30 | 267.80 | 320.01 | 246.67 | 625.93 | 835.42 | 1,115.03 | 1,488.22 | 1,986.32 |
| Capital Expenditure | -22.53 | -96.79 | -55.64 | -95.24 | -58.84 | -177.37 | -236.74 | -315.97 | -421.73 | -562.88 |
| Free Cash Flow | 118.93 | 119.52 | 212.16 | 224.77 | 187.83 | 448.55 | 598.68 | 799.06 | 1,066.49 | 1,423.44 |
| WACC | ||||||||||
| PV LFCF | 267.90 | 328.13 | 401.90 | 492.26 | 602.94 | |||||
| SUM PV LFCF | 3,216.11 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.97 |
| Free cash flow (t + 1) | 1,451.91 |
| Terminal Value | 20,830.89 |
| Present Value of Terminal Value | 13,557.30 |
Intrinsic Value
| Enterprise Value | 16,773.41 |
|---|---|
| Net Debt | -288.61 |
| Equity Value | 17,062.02 |
| Shares Outstanding | 47.85 |
| Equity Value Per Share | 356.56 |