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

Employees: 17,900
Headquarters: Chandler, AZ
CEO: Steve Sanghi
Next results: around Jan 4, 2027

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What the 10-K filed 2026-05-21 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-05-23.

Big customers

2 new

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

New “Sales to distributors accounted for approximately 47% of our net sales in fiscal 2026 and approximately 45% of our net sales in fiscal 2025.”
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New “While we had approximately 101,000 customers, and our ten largest direct customers accounted for approximately 11% of our total revenue in fiscal 2026, and two of our top ten direct customers are contract manufacturers that perform manufacturing services for many customers, cancellation of customer contracts could have an adverse impact on our revenue and profits.”
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“Distributors accounted for approximately 47% and 45% of our net sales in fiscal 2026 and fiscal 2025, respectively.”
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“With the exception of Arrow Electronics, our largest distributor, which accounted for 12% and 10% of our net sales in fiscal 2026 and in fiscal 2025, respectively, no other distributor or direct customer accounted for more than 10% of our net sales during these periods.”
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Key suppliers

Parts or manufacturing that depend on one or a few suppliers.

“Although we generally maintain multiple sources for these items, only a limited number of suppliers may be capable of meeting our technical requirements.”
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Lawsuits and legal claims

Pending cases, settlements and what the company has set aside for them.

No specific sentence about this in the 10-K.

Guarantees and indemnities

Promises to pay someone else's debts or losses if they cannot.

No specific sentence about this in the 10-K.

Debt covenants

Conditions in loan agreements that, if broken, can make debt due early.

“The Covenant Relief Period means the period following the Restatement Effective Date to (but excluding) the earlier of (a) December 31, 2026 and (b) the date in which the Total Leverage Ratio for the most recently ended fiscal quarter shall not exceed 3.50 to 1.00 and certain other conditions are satisfied.”
Read it in the 10-K ↗

Commitments off the balance sheet

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

No specific sentence about this in the 10-K.

Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

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