As of Q4'25, MPWR's gross margin stands at 55.2%, operating margin at 26.6%, and net profit margin at 22.6%. These figures reflect the latest available data for the period ending December 31, 2025. Over the period from Q1'23 to Q4'25, gross margin has remained relatively stable, fluctuating narrowly between 55.1% and 57.4%. Operating margin has shown more variability, dipping to a low of 20.9% in Q1'24 before recovering to the 26% range by Q4'25. Net profit margin also experienced some volatility, notably spiking to an anomalous 233.1% in Q4'24, likely due to a one-off event, before returning to a normalized range around 20-24%. Overall, the trend indicates stable profitability with occasional fluctuations, particularly in operating and net margins.