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MCHPMicrochip Technology

Technology · Semiconductors · Nasdaq

We develop, manufacture and sell smart, connected and secure embedded control solutions used by our customers for a wide variety of applications. 10-K, Item 1

MCHP quote by TradingView
Employees
17,900
Headquarters
Chandler, AZ
CEO
Steve Sanghi
Next results
around Jan 4, 2027
Compare with peers → Embed
All key numbers (42, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)1.33Sales (ttm)5.6BNet income (ttm)838.1MSales growth+7.1%EPS growth-Sales Q/Q+42.2%
Free cash flow1.5BGross margin62.7%Oper. margin20.9%Net margin15.0%FCF margin26.0%ROE12.6%
ROA5.7%R&D / sales23.0%Dividend1.82Debt/Eq0.83Curr. ratio2.24Cash457.0M
Op. cash flow (ttm)1.5BEBITDA1.2BEBITDA margin25.0%Net debt5.1BQuick ratio1.40Interest cover2.21
ROIC3.4%Payout ratio827.3%Tax rate15.9%Stock pay / sales5.4%Shares out.544.2MShares Y/Y+1.5%
Book / share12.20Cash / share0.84Sales / share10.30Asset turnover0.38Inventory turns1.92Days sales out.69
Sales 3Y CAGR-17.6%Sales 5Y CAGR-2.8%EPS 3Y CAGR-62.0%EPS 5Y CAGR-19.5%Employees17,900Sales / employee313K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2026 against FY2025
  • Revenue growth sped up to +7.1%-42.3% → +7.1% · Revenue FY2026 / revenue FY2025 − 1, against the same a year earlier · 10-K ↗
  • Operating margin widened to 10.4%6.7% → 10.4% · Operating income / revenue · 10-K ↗
  • Net income turned to a profit−$500K → $230.0M · Net income attributable to the company · 10-K ↗
What management wrote about it → · Every company →

MCHP against Technology peers

Ten years, side by side → · All 75 →
GrowthProfitBalanceCleanInsiders
MCHPPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 75 companies, the better end on the right. Hover a dot for the company.

Sales growth
+7.1%60th of 75 · median +14.1%
Net margin
15.0%46th of 75 · median 19.1%
Return on equity
12.6%51st of 69 · median 23.9%
Free cash flow margin
26.0%32nd of 71 · median 22.3%
Debt / equity (less is better)
0.8347th of 61 · median 0.46
MCHP and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
MCHP Microchip Technology$5.6B +7.1%62.7%15.0%12.6%26.0%0.83
CIEN Ciena$6.0B +18.8%44.1%10.9%21.4%13.5%1.06
TWLO Twilio$5.8B +13.7%48.6%21.8%13.9%-0.11
Q Qnity Electronics$5.5B +9.7%46.9%10.2%7.4%14.2%0.53
CRWD CrowdStrike$5.4B +21.7%75.2%0.8%0.9%29.8%0.15
GEN Gen Digital$5.2B +27.1%77.4%23.1%44.0%33.7%2.96

From $6.8B of sales to $1.3B of profit

FY2022, from the 10-K income statement
Revenue to Gross profit: $4.4BRevenue to Cost of revenue: $2.4BGross profit to Operating profit: $1.8BGross profit to Operating expenses: $2.6BOperating profit to Net profit: $1.3BOperating profit to Tax & other: $564.1MOperating expenses to R&D: $989.1MOperating expenses to Sales, admin & other: $1.6B Revenue: $6.8B Revenue$6.8B +25% Y/Y Gross profit: $4.4B · 65% margin Gross profit$4.4B65% margin +32% Y/Y Cost of revenue: $2.4B · 35% of revenue Cost of revenue$2.4B35% of revenue Operating profit: $1.8B · 27% margin Operating profit$1.8B27% margin +85% Y/Y Operating expenses: $2.6B · 38% of revenue Operating expenses$2.6B38% of revenue Net profit: $1.3B · 19% margin Net profit$1.3B19% margin +268% Y/Y Tax & other: $564.1M · 8% of revenue Tax & other$564.1M8% of revenue R&D: $989.1M · 15% of revenue R&D$989.1M15% of revenue Sales, admin & other: $1.6B · 24% of revenue Sales, admin & other$1.6B24% of revenue

Swipe sideways for the whole flow →

From $8.4B of sales to $2.2B of profit

FY2023, from the 10-K income statement and revenue by segment
Semiconductor products to Revenue: $8.3BTechnology licensing to Revenue: $161.0MRevenue to Gross profit: $5.7BRevenue to Cost of revenue: $2.7BGross profit to Operating profit: $3.1BGross profit to Operating expenses: $2.6BOperating profit to Net profit: $2.2BOperating profit to Tax & other: $878.3MOperating expenses to R&D: $1.1BOperating expenses to Sales, admin & other: $1.5B Semiconductor products: $8.3B · 98% Semiconductor products$8.3B98% Technology licensing: $161.0M · 2% Technology licensing$161.0M2% Revenue: $8.4B Revenue$8.4B +24% Y/Y Gross profit: $5.7B · 68% margin Gross profit$5.7B68% margin +28% Y/Y Cost of revenue: $2.7B · 32% of revenue Cost of revenue$2.7B32% of revenue Operating profit: $3.1B · 37% margin Operating profit$3.1B37% margin +68% Y/Y Operating expenses: $2.6B · 31% of revenue Operating expenses$2.6B31% of revenue Net profit: $2.2B · 27% margin Net profit$2.2B27% margin +74% Y/Y Tax & other: $878.3M · 10% of revenue Tax & other$878.3M10% of revenue R&D: $1.1B · 13% of revenue R&D$1.1B13% of revenue Sales, admin & other: $1.5B · 17% of revenue Sales, admin & other$1.5B17% of revenue

Swipe sideways for the whole flow →

From $7.6B of sales to $1.9B of profit

FY2024, from the 10-K income statement and revenue by segment
Semiconductor products to Revenue: $7.5BTechnology licensing to Revenue: $103.3MRevenue to Gross profit: $5.0BRevenue to Cost of revenue: $2.6BGross profit to Operating profit: $2.6BGross profit to Operating expenses: $2.4BOperating profit to Net profit: $1.9BOperating profit to Tax & other: $664.1MOperating expenses to R&D: $1.1BOperating expenses to Sales, admin & other: $1.3B Semiconductor products: $7.5B · 99% Semiconductor products$7.5B99% Technology licensing: $103.3M · 1% Technology licensing$103.3M1% Revenue: $7.6B Revenue$7.6B −10% Y/Y Gross profit: $5.0B · 65% margin Gross profit$5.0B65% margin −12% Y/Y Cost of revenue: $2.6B · 35% of revenue Cost of revenue$2.6B35% of revenue Operating profit: $2.6B · 34% margin Operating profit$2.6B34% margin −17% Y/Y Operating expenses: $2.4B · 32% of revenue Operating expenses$2.4B32% of revenue Net profit: $1.9B · 25% margin Net profit$1.9B25% margin −15% Y/Y Tax & other: $664.1M · 9% of revenue Tax & other$664.1M9% of revenue R&D: $1.1B · 14% of revenue R&D$1.1B14% of revenue Sales, admin & other: $1.3B · 17% of revenue Sales, admin & other$1.3B17% of revenue

Swipe sideways for the whole flow →

From $4.7B of sales to $230.0M of profit

FY2026, from the 10-K income statement and revenue by segment
Semiconductor products to Revenue: $4.5BTechnology licensing to Revenue: $163.8MRevenue to Gross profit: $2.7BRevenue to Cost of revenue: $2.0BGross profit to Operating profit: $490.1MGross profit to Operating expenses: $2.2BOperating profit to Net profit: $230.0MOperating profit to Tax & other: $260.1MOperating expenses to R&D: $1.1BOperating expenses to Sales, admin & other: $1.1B Semiconductor products: $4.5B · 97% Semiconductor products$4.5B97% Technology licensing: $163.8M · 3% Technology licensing$163.8M3% Revenue: $4.7B Revenue$4.7B +7% Y/Y Gross profit: $2.7B · 58% margin Gross profit$2.7B58% margin +10% Y/Y Cost of revenue: $2.0B · 42% of revenue Cost of revenue$2.0B42% of revenue Operating profit: $490.1M · 10% margin Operating profit$490.1M10% margin +65% Y/Y Operating expenses: $2.2B · 47% of revenue Operating expenses$2.2B47% of revenue Net profit: $230.0M · 5% margin Net profit$230.0M5% margin Tax & other: $260.1M · 6% of revenue Tax & other$260.1M6% of revenue R&D: $1.1B · 23% of revenue R&D$1.1B23% of revenue Sales, admin & other: $1.1B · 24% of revenue Sales, admin & other$1.1B24% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2022
FY2023
FY2024
FY2026
  • Cost of revenue
  • R&D
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

0 of 4
  • !
    Net margin below the peer median15.0% vs 19.1%
  • !
    Gross margin down over 5 years62.1% → 57.7%
  • !
    Return on equity below 15%12.6%
  • !
    A profit in 9 of 10 years
Net margin, FY2017 to FY2026: 4.8% → 4.9%

Balance sheet

2 of 4
  • !
    Interest covered less than 5 timesOperating income is 2.2× interest expense
  • ✓
    Debt smaller than equityDebt / equity 0.83 on the latest balance sheet (peer median 0.46)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 2.24
  • !
    Net debt over 3 years of free cash flow$5.1B net debt, 3.5 years
Debt / equity at each year end, FY2017 to FY2026: 0.90 → 0.85
What the debt is made of ↓

Cash and shareholders

3 of 4
  • ✓
    Free cash flow positive in every one of 10 years$871.0M last year
  • !
    Share count up over 5 years+0.7%
  • ✓
    Dividend per share up over 5 years$0.75 → $1.82
  • ✓
    Cash from operations above net income$962.1M vs $230.0M
Free cash flow, FY2017 to FY2026: 1.0B → 871.0M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

What the debt is made of, and when it is due

balance sheet of Sep 30, 2026
Debt: $5.5B Debt$5.5B Long-term debt: $5.5B · 100% Long-term debt$5.5B · 100% Next 12 months: $1.0B · 18% Next 12 months$1.0B · 18% Year 2: $1.0B · 18% Year 2$1.0B · 18% Year 3: $1.9B · 34% Year 3$1.9B · 34% Year 4: $1.2B · 23% Year 4$1.2B · 23%

The debt note's own lines, 2026-03-31

Fixed rate $0Floating $349.0M Not stated $10.7B

Line, as the company names itKindRateFixed or floatingAmount
Senior IndebtednessNotes and bonds–not stated$3.3B
Convertible debtConvertible–not stated$2.2B
2024 Senior Convertible Debt (Convertible Subordinated Debt)Convertible0.75–1.00%not stated$1.2B
4.900% 2028 Notes (Senior Notes)Notes and bonds4.90–5.10%not stated$1.0B
5.050% 2029 Notes (Senior Notes)Notes and bonds5.05–5.20%not stated$1.0B
5.050% 2030 Notes (Senior Notes)Notes and bonds5.05–5.20%not stated$1.0B
2026 Senior Convertible Debt (Convertible Subordinated Debt)Convertible0.50%not stated$900.0M
Commercial PaperCommercial paper–floating$349.0M
2017 Senior Convertible Debt (Convertible Subordinated Debt)Convertible1.62–1.80%not stated$37.9M

From the debt note in the 10-K's XBRL (0000827054-26-000016), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.

Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →

Revenue and net income, FY2017 to FY2026

Revenue 4.7B Net income 230.0M
FY2017 revenue 3.4B · Revenues, 0000827054-19-000143 FY2017 net income 164.6M · NetIncomeLoss, 0000827054-19-000143 3.4B FY2017 FY2018 revenue 4.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000827054-20-000119 FY2018 net income 255.4M · NetIncomeLoss, 0000827054-20-000119 4.0B FY2018 FY2019 revenue 5.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000827054-21-000106 FY2019 net income 355.9M · NetIncomeLoss, 0000827054-21-000106 5.3B FY2019 FY2020 revenue 5.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000827054-22-000094 FY2020 net income 570.6M · NetIncomeLoss, 0000827054-22-000094 5.3B FY2020 FY2021 revenue 5.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000827054-23-000080 FY2021 net income 349.4M · NetIncomeLoss, 0000827054-23-000080 5.4B FY2021 FY2022 revenue 6.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000827054-24-000098 FY2022 net income 1.3B · NetIncomeLoss, 0000827054-24-000098 6.8B FY2022 FY2023 revenue 8.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000827054-25-000077 FY2023 net income 2.2B · NetIncomeLoss, 0000827054-25-000077 8.4B FY2023 FY2024 revenue 7.6B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000827054-26-000016 FY2024 net income 1.9B · NetIncomeLoss, 0000827054-26-000016 7.6B FY2024 FY2025 revenue 4.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000827054-26-000016 FY2025 net income -500K · NetIncomeLoss, 0000827054-26-000016 4.4B FY2025 FY2026 revenue 4.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000827054-26-000016 FY2026 net income 230.0M · NetIncomeLoss, 0000827054-26-000016 4.7B FY2026

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

MCHP's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue4.7B
FY2017: 3.4BFY2018: 4.0BFY2019: 5.3BFY2020: 5.3BFY2021: 5.4BFY2022: 6.8BFY2023: 8.4BFY2024: 7.6BFY2025: 4.4BFY2026: 4.7B FY2018FY2020FY2022FY2024FY2026
Net income230.0M
FY2017: 164.6MFY2018: 255.4MFY2019: 355.9MFY2020: 570.6MFY2021: 349.4MFY2022: 1.3BFY2023: 2.2BFY2024: 1.9BFY2025: -500KFY2026: 230.0M FY2018FY2020FY2022FY2024FY2026
Free cash flow871.0M
FY2017: 1.0BFY2018: 1.2BFY2019: 1.4BFY2020: 1.5BFY2021: 1.8BFY2022: 2.5BFY2023: 3.1BFY2024: 2.6BFY2025: 772.1MFY2026: 871.0M FY2018FY2020FY2022FY2024FY2026
EPS (diluted)0.22
FY2017: 0.35FY2018: 0.52FY2019: 0.71FY2020: 1.11FY2021: 0.65FY2022: 2.27FY2023: 4.02FY2024: 3.48FY2025: -0.01FY2026: 0.22 FY2018FY2020FY2022FY2024FY2026
Dividend per share1.82
FY2017: 0.72FY2018: 0.72FY2019: 0.73FY2020: 0.73FY2021: 0.75FY2022: 0.91FY2023: 1.26FY2024: 1.68FY2025: 1.82FY2026: 1.82 FY2018FY2020FY2022FY2024FY2026
Diluted shares545.2M
FY2017: 469.6MFY2018: 497.8MFY2019: 499.8MFY2020: 512.4MFY2021: 541.2MFY2022: 565.9MFY2023: 557.3MFY2024: 548.0MFY2025: 537.3MFY2026: 545.2M FY2018FY2020FY2022FY2024FY2026

Revenue by business segment

year to Mar 31, 2026
RevenueSharevs year before
Semiconductor products 4.5B96.5% +6.5%
Technology licensing 163.8M3.5% +24.9%

10-K 0000827054-26-000016, segment and revenue notes (XBRL).

Revenue by product or service

year to Mar 31, 2026
RevenueSharevs year before
Mixed-signal Microcontrollers 2.4B50.0% +4.7%
Analog 1.3B28.2% +14.9%
Other 1.0B21.8% +3.4%

10-K 0000827054-26-000016, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue3.4B4.0B5.3B5.3B5.4B6.8B8.4B7.6B4.4B4.7B
Cost of revenue1.7B1.6B2.4B2.0B2.1B2.4B2.7B2.6B1.9B2.0B
Gross profit1.8B2.4B2.9B3.2B3.4B4.4B5.7B5.0B2.5B2.7B
R&D545.3M529.3M826.3M877.8M836.4M989.1M1.1B1.1B983.8M1.1B
SG&A499.8M452.1M682.9M676.6M610.3M718.9M797.7M734.2M617.7M674.3M
Operating income275.8M936.3M714.3M647.1M998.1M1.8B3.1B2.6B296.3M490.1M
Interest expense146.3M199.0M502.9M497.3M356.9M257.0M203.9M198.3M259.2M221.3M
Pretax income89.8M737.3M204.5M150.4M339.5M1.5B2.9B2.4B38.9M273.5M
Income tax-80.8M481.9M-151.4M-420.2M-9.9M197.0M672.0M459.0M39.4M43.5M
Net income164.6M255.4M355.9M570.6M349.4M1.3B2.2B1.9B-500K230.0M
EPS (diluted)0.350.520.711.110.652.274.023.48-0.010.22
Diluted shares469.6M497.8M499.8M512.4M541.2M565.9M557.3M548.0M537.3M545.2M
Depreciation & amortization469.2M615.9M876.4M1.2B1.2B1.1B998.4M879.5M750.1M689.3M
EBITDA745.0M1.6B1.6B1.9B2.2B3.0B4.1B3.5B1.0B1.2B
Gross margin51.6%60.8%54.8%61.5%62.1%65.2%67.5%65.4%56.1%57.7%
Operating margin8.1%23.5%13.4%12.3%18.4%27.1%36.9%33.7%6.7%10.4%
Net margin4.8%6.4%6.7%10.8%6.4%18.8%26.5%25.0%0.0%4.9%
Revenue growth-+16.8%+34.4%-1.4%+3.1%+25.4%+23.7%-9.5%-42.3%+7.1%
EPS growth-+45.1%+37.9%+56.3%-41.4%+249%+77.1%-13.4%-100%-

Balance sheet

From EDGAR
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash908.7M901.3M428.6M401.0M280.0M317.4M234.0M319.7M771.7M240.3M
Short-term investments394.1M1.3B2.3M2.0M2.0M2.0M0---
Receivables478.4M563.7M880.6M934.0M997.7M1.1B1.3B1.1B689.7M894.7M
Inventory417.2M476.2M711.7M685.7M665.0M854.4M1.3B1.3B1.3B1.0B
Current assets2.3B3.4B2.2B2.2B2.1B2.5B3.1B3.0B3.0B2.4B
Property & equipment683.3M767.9M996.7M876.1M854.7M967.9M1.2B1.2B1.2B1.1B
Goodwill2.3B2.3B6.7B6.7B6.7B6.7B6.7B6.7B6.7B6.7B
Total assets7.7B8.3B18.4B17.4B16.5B16.2B16.4B15.9B15.4B14.4B
Accounts payable149.2M144.1M226.4M246.8M292.4M344.7M396.9M213.0M160.6M205.6M
Current liabilities704.5M2.0B2.4B1.6B2.4B1.4B3.1B2.5B1.2B1.1B
Total debt3.0B3.1B10.3B9.5B8.9B7.7B6.4B6.0B5.6B5.5B
Shareholders' equity3.3B3.3B5.3B5.6B5.3B5.9B6.5B6.7B7.1B6.4B
Retained earnings1.5B1.4B3.2B3.4B3.4B4.2B5.8B6.8B5.8B4.9B

Cash flow

From EDGAR
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow1.1B1.4B1.7B1.5B1.9B2.8B3.6B2.9B898.1M962.1M
Capital spending10.2M206.8M228.9M67.6M92.6M370.1M486.2M285.1M126.0M91.1M
Free cash flow1.0B1.2B1.4B1.5B1.8B2.5B3.1B2.6B772.1M871.0M
Stock-based pay (added back)128.1M93.2M166.4M170.2M198.3M210.2M170.4M177.5M180.4M255.4M
Dividends paid-------911.5M975.7M984.0M
Buybacks00-00425.6M945.8M982.1M96.5M0
Acquisitions007.9B00-----
Debt raised002.0B03.6B997.0M0994.7M2.0B0
Debt repaid0--001.0B03.4B1.0B1.2B
Investing cash flow-2.8B-1.0B-6.8B-133.2M-173.3M-477.7M-599.5M-392.1M-287.8M-195.5M
Financing cash flow595.5M-415.3M4.7B-1.4B-1.9B-2.3B-3.1B-2.4B-158.3M-1.3B
Dividend per share0.720.720.730.730.750.911.261.681.821.82

Stock-based pay and leases

From EDGAR
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Stock-based pay (expense)128.1M93.2M166.4M170.2M198.3M210.2M170.4M177.5M180.4M255.4M
Stock-based pay / revenue3.8%2.3%3.1%3.2%3.6%3.1%2.0%2.3%4.1%5.4%
Operating lease cost---70.4M63.1M58.4M56.6M60.4M61.8M63.8M
Operating lease cash paid---46.5M47.4M45.7M39.7M39.0M40.0M42.3M
Finance lease principal paid--800K800K600K800K800K1.6M1.6M1.6M
Right-of-use assets---119.5M154.3M153.3M154.0M156.3M146.3M137.5M
Operating lease liabilities---139.2M165.2M162.7M160.1M161.3M150.8M145.8M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

Work on MCHP in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/MCHP/export.csv") into a cell.