MPWR vs UMC: Monolithic Power Systems and United Microelectronics compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- United Microelectronics is the larger company, worth $63.7B, close to Monolithic Power Systems's $60.6B.
- Monolithic Power Systems grew revenue faster over the last year (+47.6% vs +4.4%).
- Monolithic Power Systems keeps more of each dollar of revenue as operating profit (28.7% vs 22.2%).
- On earnings, United Microelectronics is the cheaper stock (40.9x vs 88.4x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | MPWR | UMC |
|---|---|---|
| Market cap | $60.6B | $63.7B |
| Share price | $1,386.29 | $22.96 |
| Revenue (last fiscal year) | $2.8B | $232.3B |
| Free cash flow (last fiscal year) | $666M | $2.5B |
| Revenue growth, last year | +47.6% | +4.4% |
| Revenue growth per year, last 5 fiscal years | +23.3% | +7.1% |
| Operating margin | 28.7% | 22.2% |
| Net margin | 24.5% | 21.0% |
| Return on equity | 20.6% | 13.3% |
| P/E (trailing) | 88.4x | 40.9x |
| Price / free cash flow | 90.9x | 1.21x |
| EV / EBITDA | 60.6x | 11.4x |
| FCF growth the price implies | 25.1% | — |
| Dividend yield | 0.54% | 1.9% |
| Debt / equity | 0.20x | 0.53x |
| Fundamental grade | B | C |
| Superinvestors holding it | 5 | 2 |
| Insider purchases, last 12 months | 6 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
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% |
United Microelectronics
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2020 | $176.8B | $37.4B | 12.4% |
| 2021 | $213.0B | $40.4B | 24.3% |
| 2022 | $278.7B | $63.0B | 37.4% |
| 2023 | $222.5B | -$8.0B | 26.0% |
| 2024 | $232.3B | $2.5B | 22.2% |
Where the revenue comes from
Monolithic Power Systems · by products, 2023
DC To DC Products$1.7B94%
Lighting Control Products$102M6%
United Microelectronics · by segments, 2020
Wafer fabrication$176.8B100%
New business$10M0%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open MPWR in InvestinglyQuestions
Which is bigger, Monolithic Power Systems or United Microelectronics?
United Microelectronics (UMC), at $63.7B against $60.6B.
Is MPWR or UMC cheaper?
By trailing P/E, United Microelectronics (40.9x) is cheaper than Monolithic Power Systems (88.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, MPWR or UMC?
Monolithic Power Systems: revenue grew +47.6% over the last year, against +4.4%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.