Microchip Technology
MCHP · NasdaqSemiconductors & Related Devices · Fiscal year ends Mar 31
Microchip Technology reported revenue of $4.7B in the fiscal year ended Mar 2026, up 7.1% from the year before. Operating income was $490M, an operating margin of 10.4%, and net income was $230M. Operating cash flow of $962M less capital expenditure of $91M left free cash flow of $871M. Net debt was $5.3B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | $6.8B | $8.4B | $7.6B | $4.4B | $4.7B |
| Cost of revenue | $2.4B | $2.7B | $2.6B | $1.9B | $2B |
| Gross profit | $4.4B | $5.7B | $5B | $2.5B | $2.7B |
| Research & development | $989M | $1.1B | $1.1B | $984M | $1.1B |
| Selling, general & admin | $719M | $798M | $734M | $618M | $674M |
| Operating income | $1.8B | $3.1B | $2.6B | $296M | $490M |
| Interest expense | $257M | $204M | $198M | $259M | $221M |
| Pre-tax income | $1.5B | $2.9B | $2.4B | $39M | $274M |
| Income tax | $197M | $672M | $459M | $39M | $44M |
| Net income | $1.3B | $2.2B | $1.9B | −$500,000 | $230M |
| Diluted EPS | 2.27 | 4.02 | 3.48 | −0.01 | 0.22 |
| Diluted shares | 566M | 557M | 548M | 537M | 545M |
Balance sheet
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $317M | $234M | $320M | $772M | $240M |
| Receivables | $1.1B | $1.3B | $1.1B | $690M | $895M |
| Inventory | $854M | $1.3B | $1.3B | $1.3B | $1B |
| Current assets | $2.5B | $3.1B | $3B | $3B | $2.4B |
| Net PP&E | $968M | $1.2B | $1.2B | $1.2B | $1.1B |
| Goodwill | $6.7B | $6.7B | $6.7B | $6.7B | $6.7B |
| Total assets | $16.2B | $16.4B | $15.9B | $15.4B | $14.4B |
| Payables | $345M | $397M | $213M | $161M | $206M |
| Deferred revenue | $73M | $121M | $262M | $213M | $179M |
| Current liabilities | $1.4B | $3.1B | $2.5B | $1.2B | $1.1B |
| Short-term debt | $0 | $1.4B | $999M | $0 | $0 |
| Long-term debt | $7.7B | $5B | $5B | $5.6B | $5.5B |
| Shareholders' equity | $5.9B | $6.5B | $6.7B | $7.1B | $6.4B |
Cash flow
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $2.8B | $3.6B | $2.9B | $898M | $962M |
| Capital expenditure | $370M | $486M | $285M | $126M | $91M |
| Free cash flow | $2.5B | $3.1B | $2.6B | $772M | $871M |
| Depreciation & amortisation | $1.1B | $998M | $880M | $750M | $689M |
| Stock-based compensation | $210M | $170M | $178M | $180M | $255M |
| Share buybacks | $426M | $946M | $982M | $97M | $0 |
| Dividends paid | – | – | $912M | $976M | $984M |
| Dividend per share | 0.91 | 1.26 | 1.68 | 1.82 | 1.82 |
Key ratios
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 23.7% | −9.5% | −42.3% | 7.1% |
| Operating income growth (YoY) | – | 68.5% | −17.5% | −88.5% | 65.4% |
| EPS growth (YoY) | – | 77.1% | −13.4% | −100.3% | – |
| Gross margin | 65.2% | 67.5% | 65.4% | 56.1% | 57.7% |
| Operating margin | 27.1% | 36.9% | 33.7% | 6.7% | 10.4% |
| Net margin | 18.8% | 26.5% | 25.0% | −0.0% | 4.9% |
| Return on equityBlank when equity is negative | 21.8% | 34.4% | 28.6% | −0.0% | 3.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 12.5% | 23.5% | 19.3% | 2.1% | 3.7% |
| Free cash flow margin | 36.3% | 37.1% | 34.2% | 17.5% | 18.5% |
| Cash conversion (CFO ÷ net income) | 2.21x | 1.62x | 1.52x | −1796x | 4.18x |
| Receivable days | 57 | 56 | 55 | 57 | 69 |
| Inventory days | 132 | 176 | 182 | 244 | 190 |
| Payable days | 53 | 53 | 29 | 30 | 38 |
| Interest cover | 7.20x | 15.3x | 13.0x | 1.14x | 2.21x |
| Debt ÷ equity | 1.30x | 0.99x | 0.90x | 0.80x | 0.85x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $7.4B | $6.2B | $5.7B | $4.9B | $5.3B |
| Current ratio | 1.75x | 0.98x | 1.20x | 2.59x | 2.09x |
Recent filings
More in Semiconductors & Related Devices
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.