$MPWR · Chip Stock Investor · 2026-11-06
Monolithic Power 是一流的电源芯片企业：拥有一流的营收增长、可快速调配工程师以拿下设计订单的无晶圆厂模式，以及一流的盈利能力并配合回购。今年为与制造伙伴共同扩张而投入的现金，并未妨碍其实现这样的增长与盈利。
逐段跳播
今天讨论的最后一家公司是 Monolithic Power Systems。Monolithic 生产电源芯片。实际上，Monolithic 拥有一流的产品目录，不仅有电源芯片，还有可以放置在任何需要供电的地方的系统。
And one final company to round out our discussion today is Monolithic Power Systems. Monolithic makes power chips. Actually, Monolithic has a best in class catalog of not only power chips, but also systems that can be placed absolutely anywhere that needs power.
Monolithic Power 拥有一种电源系统或电源芯片，可以为该设备供电。真是令人难以置信的故事。他们不断从胜利走向胜利，不仅营收增长一流，作为一家无晶圆厂芯片设计公司，你本就会预期他们能快速行动、重新调配工程团队以赢得新的设计订单，而且盈利能力也是一流。
Monolithic Power has a power system or power chip, that can give that device power. Really incredible story. They continue to just go from strength to strength, and a best in class mix of not just revenue growth.
As a fabless chip designer, you would expect that, the ability for them to move very quickly, reallocate their engineering teams to capture new design wins, but also best in class profitability.
但 Monolithic 实际上在各方面都实现了盈利，并且按每股计算长期也是如此。尽管他们今年进行了一些现金投资，以与制造合作伙伴一起扩张，但在这方面仍然表现非常出色，不仅是增长，还有伴随增长而来的极佳盈利能力，并通过股票回购向股东返还现金。
But Monolithic is actually profitable on all counts and on a per share basis over time. Though they've been making some cash investments this year to expand with their manufacturing partners, still very much delivering on this front, not just growth, but fantastic profitability for that growth and returning cash to shareholders with share repurchases.
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