NASDAQ: MCHP
Microchip Technology
Technology · Semiconductors & Related Devices
52-week range
$48.52$105.91
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$49.5B
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| Period | Market cap |
|---|---|
| FY2017, ended Mar 31, 2017 | $16.9B |
| FY2018, ended Mar 31, 2018 | $21.5B |
| FY2019, ended Mar 31, 2019 | $19.7B |
| FY2020, ended Mar 31, 2020 | $16.6B |
| FY2021, ended Mar 31, 2021 | $42.5B |
| FY2022, ended Mar 31, 2022 | $41.7B |
| FY2023, ended Mar 31, 2023 | $45.7B |
| FY2024, ended Mar 31, 2024 | $48.2B |
| FY2025, ended Mar 31, 2025 | $26.1B |
| FY2026, ended Mar 31, 2026 | $35.0B |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $49.5B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$5.12B
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| Period | Revenue |
|---|---|
| FY2017, ended Mar 31, 2017 | $3.41B |
| FY2018, ended Mar 31, 2018 | $3.98B |
| FY2019, ended Mar 31, 2019 | $5.35B |
| FY2020, ended Mar 31, 2020 | $5.27B |
| FY2021, ended Mar 31, 2021 | $5.44B |
| FY2022, ended Mar 31, 2022 | $6.82B |
| FY2023, ended Mar 31, 2023 | $8.44B |
| FY2024, ended Mar 31, 2024 | $7.63B |
| FY2025, ended Mar 31, 2025 | $4.40B |
| FY2026, ended Mar 31, 2026 | $4.71B |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $5.12B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2017, ended Mar 31, 2017 | $165M | $1.05B |
| FY2018, ended Mar 31, 2018 | $255M | $1.21B |
| FY2019, ended Mar 31, 2019 | $356M | $1.45B |
| FY2020, ended Mar 31, 2020 | $571M | $1.48B |
| FY2021, ended Mar 31, 2021 | $349M | $1.82B |
| FY2022, ended Mar 31, 2022 | $1.29B | $2.47B |
| FY2023, ended Mar 31, 2023 | $2.24B | $3.13B |
| FY2024, ended Mar 31, 2024 | $1.91B | $2.61B |
| FY2025, ended Mar 31, 2025 | −$500K | $772M |
| FY2026, ended Mar 31, 2026 | $230M | $871M |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $478M | $1.11B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$272M
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| Period | Cash and cash equivalents |
|---|---|
| FY2017, ended Mar 31, 2017 | $909M |
| FY2018, ended Mar 31, 2018 | $901M |
| FY2019, ended Mar 31, 2019 | $429M |
| FY2020, ended Mar 31, 2020 | $401M |
| FY2021, ended Mar 31, 2021 | $280M |
| FY2022, ended Mar 31, 2022 | $317M |
| FY2023, ended Mar 31, 2023 | $234M |
| FY2024, ended Mar 31, 2024 | $320M |
| FY2025, ended Mar 31, 2025 | $772M |
| FY2026, ended Mar 31, 2026 | $240M |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $272M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$5.36B
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| Period | Total debt |
|---|---|
| FY2017, ended Mar 31, 2017 | $2.95B |
| FY2018, ended Mar 31, 2018 | $3.07B |
| FY2019, ended Mar 31, 2019 | $10.3B |
| FY2020, ended Mar 31, 2020 | $9.48B |
| FY2021, ended Mar 31, 2021 | $8.90B |
| FY2022, ended Mar 31, 2022 | $7.69B |
| FY2023, ended Mar 31, 2023 | $6.44B |
| FY2024, ended Mar 31, 2024 | $6.00B |
| FY2025, ended Mar 31, 2025 | $5.63B |
| FY2026, ended Mar 31, 2026 | $5.50B |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $5.36B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 18.4% since 2017.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.543M
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| Period | Shares outstanding |
|---|---|
| FY2017, ended Mar 31, 2017 | 459M |
| FY2018, ended Mar 31, 2018 | 470M |
| FY2019, ended Mar 31, 2019 | 476M |
| FY2020, ended Mar 31, 2020 | 491M |
| FY2021, ended Mar 31, 2021 | 547M |
| FY2022, ended Mar 31, 2022 | 555M |
| FY2023, ended Mar 31, 2023 | 545M |
| FY2024, ended Mar 31, 2024 | 537M |
| FY2025, ended Mar 31, 2025 | 539M |
| FY2026, ended Mar 31, 2026 | 542M |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | 543M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $340M more issued than bought back
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| Period | Bought back | Paid to employees | Sold for cash | Used in acquisitions |
|---|---|---|---|---|
| FY2017, ended Mar 31, 2017 | $0 | $128M | $42.2M | $486M |
| FY2018, ended Mar 31, 2018 | $0 | $93.2M | $42.0M | — |
| FY2019, ended Mar 31, 2019 | — | $166M | $42.6M | — |
| FY2020, ended Mar 31, 2020 | $0 | $170M | $58.8M | — |
| FY2021, ended Mar 31, 2021 | $0 | $198M | $60.3M | — |
| FY2022, ended Mar 31, 2022 | $426M | $210M | $70.5M | — |
| FY2023, ended Mar 31, 2023 | $946M | $170M | $82.3M | — |
| FY2024, ended Mar 31, 2024 | $982M | $178M | $82.1M | — |
| FY2025, ended Mar 31, 2025 | $96.5M | $180M | $65.4M | — |
| FY2026, ended Mar 31, 2026 | $0 | $255M | $61.7M | $19.1M |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | — | $278M | $62.3M | — |
Revenue (TTM)
$5.12B
+20.9% YoY
Net income (TTM)
$478M
n/m YoY
Cash
$272M
−51.9% YoY
Total debt
$5.36B
−1.8% YoY
Valuation
At current price- Market Cap
- $42.0B
- P/E
- 87.8×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 8.2×
- Price / Book
- 6.5×
- EV / EBITDA
- 32.0×
Growth
Trailing 12 months- Revenue (TTM)
- $5.12B
- Revenue Growth YoY
- 20.9%
- Revenue CAGR 3Y
- −17.6%
- Revenue CAGR 5Y
- −2.8%
- EPS Growth YoY
- n/m. Diluted EPS, TTM vs. TTM a year earlier
- Net Income Growth YoY
- n/m. TTM vs. TTM a year earlier
Profitability
Trailing 12 months- Gross Margin
- 60.2%
- Operating Margin
- 15.5%
- Net Margin
- 9.3%
- FCF Margin
- 21.7%
- Return on Equity
- 7.2%
Earnings
Trailing 12 months- Net Income
- $478M
- EPS (diluted)
- $0.68
- EBITDA
- $1.47B
- Operating Income
- $795M
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $272M
- Total Debt
- $5.36B
- Net Debt
- $5.09B
- Total Assets
- $14.4B
- Total Liabilities
- $7.96B
- Shareholders' Equity
- $6.45B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.20B
- Capital Expenditure
- $87.1M
- Free Cash Flow
- $1.11B
Dividends and risk
Last 12 months- Dividend Yield
- 2.4%
- Dividend / Share
- $1.82
- Beta (5Y)
- 1.77
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 20.9% year over year, at $5.12B.
Strength
Operating margin widened 12.9 pts in a year, to 15.5%.
Watch
Net debt is 3.5× EBITDA ($5.09B), a heavy load.
Strength
Turns 21.7% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Mar 31, 2026 · filed May 21, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K27Serious concerns
27Serious concerns
10-K for the fiscal year ended Mar 31, 2025
Filed May 23, 2025 · Read the filing on EDGAR
- Sales fell 42.3% to $4.40 billion and the company had a small net loss of $0.5 million, down from $1.91 billion of net income a year earlier.
- Microchip closed its Fab 2 factory in Tempe, Arizona, announced a 10% cut to its workforce, and loosened the debt limits in its bank loan agreement twice.
- It raised $1.45 billion by selling convertible preferred stock, was downgraded by one rating agency, and says it has used borrowing to help pay its dividend.
- Germany sent new tax bills of up to $92 million, adding to the existing disputes with the IRS and Malaysia.
Business momentum
Sharp deterioration
“Net sales $ 4,401.6 $ 7,634.4 (42.3) %”
Outlook
Cautious
“There continues to be uncertainty regarding overall macroeconomic conditions, including increased geopolitical tensions, risk of a recession, and the effects of potential trade policies, including tariffs.”
Financial stress
Moderate
“Recently, we have used borrowings to finance a portion of our quarterly dividend payments and we may continue to do so in future periods.”
Tone against the previous report
More negative
Red flags
- Medium
Other
“The Second Amended and Restated Credit Agreement amended the maximum total leverage ratio financial covenant to the following: 5.50 to 1.00 for period ending March 31, 2025”
- Medium
Other
“While we have maintained our investment grade rating, we were recently downgraded by one rating agency and there is no assurance that we will maintain our current credit ratings.”
- Minor
Other
“If the assessment is upheld, it could result in income taxes and penalties up to $92.0 million.”
Positives
Cash pile grew and short-term borrowing fell
“We had $771.7 million in cash and cash equivalents at March 31, 2025, an increase of $452.0 million from the March 31, 2024 balance.”
Distributors are holding less of its stock
“At March 31, 2025, our distributors maintained 33 days of inventory of our products compared to 41 days at March 31, 2024.”
Cost cuts expected to save over $180 million a year
“We expect this action to reduce our ongoing operating expenses by approximately $90 million to $100 million on an annualized basis.”
Concerns
Its own inventory still very high
“We maintained 251 days of inventory on our balance sheet at March 31, 2025 compared to 224 days of inventory at March 31, 2024.”
Profit margins collapsed
“Operating income 6.7 % 33.7 %”
$1.2 billion of debt due soon, to be refinanced at higher rates
“our 4.250% 2025 Notes in the principal amount of $1.20 billion matures on September 1, 2025”
New risks since the previous report
Tariffs and China's limits on rare earth exports
“In April 2025, China imposed export restrictions on certain rare earth minerals.”
New German tax assessments
“In January 2025, we received several assessments from the German Tax Authorities (GTA) regarding the German extraterritorial taxation of royalty payments between nonresidents”
Credit downgrade and borrowing to pay the dividend
“Recently, we have used borrowings to finance a portion of our quarterly dividend payments and we may continue to do so in future periods.”
Dilution from the new preferred stock, which ranks ahead of common shares
“Our common stock ranks junior to our Series A Preferred Stock with respect to dividends and amounts payable in the event of our liquidation, winding-up or dissolution.”
Cyberattack disrupted factories
“As a result, certain of our manufacturing facilities were operating at less than normal levels for a period of time, and our ability to fulfill orders was temporarily impacted.”
Biggest risks named
- Weak demand and excess inventory
- Debt refinancing and loosened loan limits
- Tax disputes with the US, Malaysia and Germany
- Tariffs, China trade tensions and rare earth supply
- Reliance on outside chip factories and Taiwan risk
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −15 | |
| Outlook | −2 | |
| Tone against the previous report | −2 | |
| Financial stress | −8 | |
| Red flags | −4.5 | |
| New risks | −2 | |
| Score | 27 | |
Written by AI (Claude Opus 5.5) from the report’s text. 17 of 17 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | May 21, 2026 | Pro | |||
| 10-K | May 23, 2025 | 27 | Sharp deterioration | 2 medium1 minor | |
| 10-K | May 23, 2024 | 48 | Weakening | 1 medium | |
| 10-K | May 25, 2023 | 64 | Strong improvement | 1 medium | |
| 10-K | May 20, 2022 | 73 | Strong improvement | 1 medium | |
| 10-K | May 18, 2021 | 75 | Strong improvement | None | |
| 10-K | May 22, 2020 | 50 | Weakening | None | |
| 10-K | May 30, 2019 | 26 | Mixed | 1 serious1 medium | |
| 10-K | May 18, 2018 | 71 | Strong improvement | 1 minor | |
| 10-K | May 30, 2017 | 55 | Mixed | 1 medium |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q1 FY2027 (period ended Jun 30, 2026), filed Aug 6, 2026. View filings on SEC EDGAR