Financial Performance and Growth - MPS's 3-year Compound Annual Growth Rate (CAGR) is 29.2%[4], consistently outperforming the market[4] - In 2023, MPS grew by 1.5% year-over-year, while the analog industry experienced a decline of 8.9%[4, 72] - From 2021 to Q2 2024, 45% of free cash flow was returned to shareholders[76] Revenue Diversification - MPS has achieved great revenue diversification by geography, with significant contributions from various regions[5, 6] - The company has diversified its end markets, with Enterprise Data growing to 17.7% of revenue in 2023 and 36.9% in 24Q2, showing a CAGR of 61.1% from 2019-2023[7] - Storage and Computing accounted for 27.0% of revenue in 2023 and 22.6% in 24Q2, with a CAGR of 36.5% from 2019-2023[7] - Automotive sector reached 21.7% of revenue in 2023 and 17.2% in 24Q2, demonstrating a CAGR of 44.6% from 2019-2023[7] Market Expansion and Technology - MPS is expanding its Served Addressable Market (SAM) through proprietary technologies, with the total market SAM growing from $10 billion in 2015 to $21 billion in 2023[18, 21] - The company is leveraging over 4000 products across various categories, including AC/DC Power Conversion, Display Backlighting Power, and DC/DC Power Conversion[9, 10] - MPS is well-positioned in the computing market, with a SAM of over $4 billion and rapid growth, particularly in AI server power architecture[26, 28] Automotive Sector - MPS's automotive revenue has grown significantly, reaching $395 million in 2023[42], representing 22% of the total company business[42] - The company has secured $1 billion in automotive wins in the pipeline[51] - New products in the automotive sector allow MPS to address up to $400 per car in additional sockets[49] Other Opportunities - MPS sees $2 billion SAM opportunities in carbon reduction through clean energy and storage, with over $150 million in design wins[64] - The company is targeting a $4 billion SAM in Data Communication and Security[61]