ALAB vs MPWR: Astera Labs and Monolithic Power Systems compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Astera Labs is the larger company, worth $60.9B, close to Monolithic Power Systems's $60.6B.
- Astera Labs grew revenue faster over the last year (+104.5% vs +47.6%).
- Monolithic Power Systems keeps more of each dollar of revenue as operating profit (28.7% vs 22.8%).
- On earnings, Monolithic Power Systems is the cheaper stock (88.4x vs 238.5x).
- Astera Labs's price assumes faster free cash flow growth: about 37% a year, against 25% for Monolithic Power Systems (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ALAB | MPWR |
|---|---|---|
| Market cap | $60.9B | $60.6B |
| Share price | $342.21 | $1,386.29 |
| Revenue (last fiscal year) | $853M | $2.8B |
| Free cash flow (last fiscal year) | $282M | $666M |
| Revenue growth, last year | +104.5% | +47.6% |
| Revenue growth per year, last 5 fiscal years | +120.2% | +23.3% |
| Operating margin | 22.8% | 28.7% |
| Net margin | 30.7% | 24.5% |
| Return on equity | 21.4% | 20.6% |
| P/E (trailing) | 238.5x | 88.4x |
| Price / free cash flow | 216.2x | 90.9x |
| EV / EBITDA | 141.7x | 60.6x |
| FCF growth the price implies | 37.3% | 25.1% |
| Dividend yield | — | 0.54% |
| Debt / equity | 0.12x | 0.20x |
| Fundamental grade | B | B |
| Superinvestors holding it | 4 | 5 |
| Insider purchases, last 12 months | 0 | 6 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Astera Labs
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $80M | -$40M | -75.4% |
| 2023 | $116M | -$15M | -25.5% |
| 2024 | $396M | $102M | -29.3% |
| 2025 | $853M | $282M | 20.3% |
Monolithic Power Systems
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.2B | $226M | 21.7% |
| 2022 | $1.8B | $188M | 29.4% |
| 2023 | $1.8B | $581M | 26.5% |
| 2024 | $2.2B | $642M | 24.4% |
| 2025 | $2.8B | $666M | 26.1% |
Where the revenue comes from
Astera Labs · by products, 2024
Product sales$393M99%
Engineering services$3M1%
Monolithic Power Systems · by products, 2023
DC To DC Products$1.7B94%
Lighting Control Products$102M6%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ALAB in InvestinglyQuestions
Which is bigger, Astera Labs or Monolithic Power Systems?
Astera Labs (ALAB), at $60.9B against $60.6B.
Is ALAB or MPWR cheaper?
By trailing P/E, Monolithic Power Systems (88.4x) is cheaper than Astera Labs (238.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, ALAB or MPWR?
Astera Labs: revenue grew +104.5% over the last year, against +47.6%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.