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Microchip Technology Incorporated

MCHP Technology Semiconductors

Microchip Technology Incorporated’s revenue for fiscal 2026 (year ended March 2026) was $4.7 billion, up 7.08% from fiscal 2025.

Revenue
+42.2%
EPS
+2,200.0%
Free cash flow
+667.6%
Total debt
+2.63%

Quarter to September 2026, against a year earlier

57.29 7.56 −11.66%
Market cap
$35.2B
P/E
49.8×
Fwd P/E
35.7×
Dividend yield
2.75%
F-score
6/9
Altman Z
3.66
Beneish M
−2.47
Dividend safety
18/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2026

  • Semiconductor products
  • Technology Licensing Member

Every year since 2010 →

Insider Decisions last twelve months

Sold, $m 70.86
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — 2 4 — 2 7 1 — 2 — — —
Insider Ownership 1.90%

Capital & Financial Ratios $m

Size
Market Cap 35,210.00
Revenue ttm 5,603.40
Net income ttm 838.10
Free cash flow ttm 1,455.40
Net debt Q 5,060.20
Valuation
P/E 49.82 (above 35: high)
Forward P/E 35.70 (above 35: high)
Price / sales 6.43
Forward P/S Powerpack
Price / FCF 24.75
Price / book 5.42
Financial health
Current ratio Q 2.24 (at or above 1.5: strong)
Debt / equity Q 0.83
Interest coverage Q 9.82
Growth
Revenue growth Q +42.19% (above 0%: growing)
Operating income growth Q +422.50% (above 0%: growing)
EPS, this year +121.36% (at or above 15%: strong)
EPS, next year A +24.93% (at or above 15%: strong)
Revenue, next year A +35.88% (at or above 10%: strong)
EPS, past 5 yrs −19.36% (below 0%: weak)
EPS, next 5 yrs A +46.55% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 7.7×, against a ten-year median of 6.3×; over the ten years it ranged from 4.5× in 2016 to 12.4× in 2026.
P/E against its own 10 years 48.22%
10-year low 10-year high
P/S against its own 10 years 69.82%
10-year low 10-year high
P/B against its own 10 years 42.24%
10-year low 10-year high
EV/Sales against its own 10 years 69.67%
10-year low 10-year high
EV/FCF against its own 10 years 79.39%
10-year low 10-year high

Dividends raised every year since 2017

Yield
2.75%
Annual rate
1.82
Payout ratio
137.9%
Growth, 2017–25
+12.2%/yr
  1. 0.72 ’17
  2. 0.73 ’18 +1
  3. 0.73 ’19 +1
  4. 0.74 ’20 +1
  5. 0.85 ’21 +16
  6. 1.16 ’22 +36
  7. 1.59 ’23 +37
  8. 1.81 ’24 +14
  9. 1.82 ’25 +0
  10. 1.83 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 320 772 240 457
Receivables 1,144 690 895 963
Inventory 1,316 1,294 1,035 1,117
Other 234 236 207 209
3,013 2,991 2,378 2,746
2024 2025 2026 Q'26
Payables 213 161 206 262
ST’ Debt 999 — — —
Other — — — —
2,519 1,155 1,136 1,225

Compound Annual Growth %

10y 5y 3y
Sales 8.05% (2.82%) (17.65%)
Cash Flow 2.60% (12.88%) (35.71%)
Earnings (9.55%) (19.41%) (62.42%)
Book Value 11.58% 3.80% (0.42%)

Earnings Trends EPS, adjusted, against the consensus

Q1 FY27 Estimate 0.70 Actual 0.76

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY26 0.33 0.35 Beat by 0.02
Q3 FY26 0.43 0.44 Beat by 0.01
Q4 FY26 0.50 0.57 Beat by 0.07
Q1 FY27 0.70 0.76 Beat by 0.06
Q2 FY27 0.94 — Reports 5 November 2026

EPS $

Jun Sep Dec Mar Year
’26 0.37 0.68 — — —
’26 (0.09) 0.03 0.06 0.21 0.22
’25 0.24 0.14 (0.10) (0.29) (0.01)
’24 1.21 1.21 0.77 0.28 3.48
’23 0.90 0.98 1.04 1.09 4.02
’22 0.45 0.43 0.62 0.77 2.27
’21 0.24 0.14 0.07 0.21 0.65
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 1,485 1,622 — — —
’26 1,076 1,140 1,186 1,311 4,713
’25 1,241 1,164 1,026 971 4,402
’24 2,289 2,254 1,766 1,326 7,634
’23 1,964 2,073 2,169 2,233 8,439
’22 1,569 1,650 1,758 1,844 6,821
’21 1,310 1,310 1,352 1,467 5,438
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 512 419 — — —
’26 276 88 341 257 962
’25 377 44 272 206 898
’24 993 616 853 430 2,893
’23 840 793 1,278 710 3,621
’22 630 612 853 748 2,843
’21 502 456 510 449 1,917
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 498 396 — — —
’26 258 52 319 243 871
’25 304 23 253 192 772
’24 882 542 794 390 2,608
’23 719 683 1,137 596 3,135
’22 544 545 763 635 2,487
’21 492 450 488 402 1,832
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 13.2% a year for ten years. It grew −2.2% a year over the last ten.

Implied
13.2%
10 years, reported
−2.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 3,408 3,981 5,350 5,274 5,438 6,821 8,439 7,634 4,402 4,713 5,603 +3.7% 6,404 7,450 8,175 +20.2%
Gross margin, % 51.56 60.81 54.80 61.47 62.13 65.23 67.52 65.44 56.07 57.73 62.70 +6.2 pt
EBT 90 737 205 150 340 1,483 2,910 2,366 39 274 965 +13.2%
EBT margin, % 2.64 18.52 3.82 2.85 6.24 21.73 34.48 30.99 0.88 5.80 17.22 +3.2 pt
Net income 165 255 356 571 349 1,286 2,238 1,907 0 230 838 +3.8%
Per share, $
Per share, $ Revenue 7.84 8.55 11.32 11.04 10.47 12.35 15.33 14.09 8.19 8.72 10.31 +1.2%
Earnings 0.38 0.55 0.76 1.20 0.68 2.33 4.07 3.52 (0.01) 0.22 1.33 (5.9%)
Cash flow 2.44 3.05 3.55 3.23 3.69 5.15 6.58 5.34 1.67 1.78 2.81 (3.4%)
Capex (0.12) (0.42) (0.48) (0.13) (0.16) (0.64) (0.88) (0.53) (0.23) (0.17) (0.14) +3.8%
Free cash flow 2.32 2.63 3.06 3.10 3.53 4.50 5.70 4.81 1.44 1.61 2.68 (4.0%)
Book value 7.53 7.04 11.19 11.69 10.28 10.67 11.83 12.28 13.17 11.90 12.22 +5.2%
Shares, m 434 466 472 478 519 552 550 542 537 540 542 +2.5%
Valuation, ×
Valuation, × P/E 99.70 78.96 57.92 28.37 114.13 32.25 20.58 25.49 0.00 307.67 49.82 76.5
P/S 4.70 5.13 3.86 3.07 7.41 6.08 5.46 6.37 5.91 7.41 6.43 5.5
P/B 4.90 6.22 3.91 2.90 7.55 7.04 7.08 7.31 3.67 5.43 5.42 5.6
EV/Sales 5.18 5.02 5.71 4.80 8.99 7.17 6.20 7.12 7.46 8.94 7.68 6.7
EV/FCF 17.51 16.33 21.11 17.11 26.70 19.67 16.69 20.83 42.50 48.36 29.56 24.7
Cash, $m
Cash, $m Operating cash flow 1,060 1,420 1,675 1,544 1,917 2,843 3,621 2,893 898 962 1,529 (1.1%)
Capex (52) (196) (229) (64) (84) (356) (486) (285) (126) (91) (74) +6.4%
Free cash flow 1,007 1,223 1,446 1,479 1,832 2,487 3,135 2,608 772 871 1,455 (1.6%)
Balance, $m
Balance, $m Working capital 1,601 1,339 (160) 580 (264) 1,054 (49) 494 1,836 1,241 1,522 (2.8%)
Net debt 1,648 872 9,876 9,123 8,622 7,402 6,206 5,680 4,859 5,256 5,060 +13.8%
Shareholders’ equity 3,271 3,280 5,288 5,586 5,337 5,895 6,514 6,658 7,078 6,432 6,641 +7.8%
Returns, %
Returns, % ROA 2.49 3.20 2.68 3.19 2.06 7.87 13.74 11.83 (0.02) 0.80 4.99 (1.7) pt
ROIC 3.50 14.10 2.94 2.75 4.47 8.69 15.31 13.02 1.55 2.62 6.25 (0.9) pt
ROE 6.07 7.80 8.31 10.50 6.40 22.89 36.07 28.96 (0.04) 1.76 10.90 (4.3) pt
People
People Employees 12,656 14,234 18,286 18,000 19,500 21,000 22,600 22,300 19,400 17,900 — +3.9%
Revenue/emp, $m 0.27 0.28 0.29 0.29 0.28 0.32 0.37 0.34 0.23 0.26 — (0.2%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Microchip Technology develops, manufactures and sells embedded control solutions: chips and related software used to control, connect and secure electronic systems. Its products go into applications ranging from industrial equipment and cars to aircraft, appliances, communications networks and data centers. The company was founded in 1989, is headquartered in Chandler, Arizona, and is led by Chief Executive Officer Steve Sanghi.

A central product is the microcontroller, a small computer on a chip that can store a program, process data and interact with other parts of a device. Microchip also sells microprocessors, analog chips, memory and programmable chips known as FPGAs. Its analog products include devices for power management, timing, security and communications interfaces.

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Semiconductor products 4,549 96.52%
Technology Licensing Member 164 3.48%
Gross margin 57.73%
Operating margin 10.40%
Pre-tax margin 5.80%

Revenue by segment since 2010

Microchip Technology Incorporated vs peers in Semiconductors (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NXPI NXP Semiconductors N.V. $61.6B 19.4× 17.8× +19.32% (above 0%: growing) +42.63% (above 0%: growing) +140.74% (above 0%: growing) 57.82% 32.44% Compare
MPWR Monolithic Power Systems, Inc. $55.2B 63.4× 56.0× +63.11% (above 0%: growing) +48.66% (above 0%: growing) +1,311.55% (above 0%: growing) 55.35% 29.75% Compare
STM STMicroelectronics N.V. $35.8B 70.6× 42.8× +17.89% (above 0%: growing) +16.07% (above 0%: growing) +107.00% (above 0%: growing) 37.29% 9.77% Compare
MCHP Microchip Technology Incorporated $35.2B 49.8× 35.7× +42.19% (above 0%: growing) +2,200.00% (above 0%: growing) +667.64% (above 0%: growing) 65.86% 28.65%
UMC United Microelectronics Corporation $33.6B 12.6× 15.4× +17.66% (above 0%: growing) +2.90% (above 0%: growing) +74.50% (above 0%: growing) 33.95% 25.11% Compare
ALAB Astera Labs, Inc. $31.1B 68.8× 79.1× +153.67% (above 0%: growing) +94.44% (above 0%: growing) +103.24% (above 0%: growing) 72.28% 30.61% Compare
ON ON Semiconductor Corporation $24.5B 36.6× 32.9× +11.05% (above 0%: growing) +28.19% (above 0%: growing) +33.45% (above 0%: growing) 41.40% 21.96% Compare
CRDO Credo Technology Group Holding Ltd. $21.1B 38.8× 34.2× +114.73% (above 0%: growing) +89.19% (above 0%: growing) +61.55% (above 0%: growing) 64.53% 25.20% Compare
GFS GlobalFoundries Inc. $20.0B 28.2× 32.3× +5.81% (above 0%: growing) −26.83% (below 0%: shrinking) −97.40% (below 0%: shrinking) 28.28% 9.74% Compare
Median of peers $32.4B 37.7× 33.6× +18.61% +35.41% +88.87% 48.38% 25.16%

All 68 Semiconductors stocks →

From the latest earnings call

Updated

  • On the June-quarter call, CEO Steve Sanghi said lead times were stretching as foundry and subcontracting constraints spread across more products.
  • Sanghi said the price increase was intended to recover costs already absorbed and that its impact would be felt for a full quarter in December.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Truist Oct 28, 2026 Target cut Hold 90.00
BMO Capital Oct 28, 2026 Initiated Outperform 95.00
Citi Oct 28, 2026 Reiterated Buy —
B. Riley Oct 28, 2026 Reiterated Buy —

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 97.62%
Held by the ten largest 48.21%
Holder Shares Stake Change
Vanguard 74.27m 13.68% +1.11m
BlackRock 63.59m 11.71% +9.26m
State Street 28.85m 5.31% +821.15k
Invesco 25.33m 4.66% −433.80k
Geode Capital Management 15.54m 2.86% +986.38k
Boston Partners 14.52m 2.67% −224.95k
Bank of America 11.90m 2.19% +493.40k
Victory Capital 9.81m 1.81% −1.91m
Norges Bank 9.08m 1.67% +9.08m
Morgan Stanley 8.88m 1.64% +30.28k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 6 July 2026

Ownership

Directors and executive officers, together 1.79%
BlackRock, Inc. 10.00%
Vanguard Capital Management, LLC 7.48%
Vanguard Portfolio Management, LLC 5.98%
State Street Corporation 5.10%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Microchip Technology Incorporated (MCHP) Latest News

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MCHP metrics, ten years each

stockrow.com/MCHP · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com