Microchip Technology Inc MCHP

Information TechnologySemiconductors & Semiconductor EquipmentUnited States of America

Last close 76.11 USD on Nov 2, 2026, +21.5% year to date

Quant rating

Quant rating C Rank 188 of 389 in Information Technology

Growth C 192 of 389
Valuation C 222 of 389
Quality C 227 of 389
Revisions B 71 of 389
Momentum C 218 of 389

Wall Street consensus Buy (1.96)Average target 104.69 USD +37.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 41.3B
Enterprise value: 46.4B
52-week range: 48.54 – 105.75
3-year range: 35.34 – 105.75
Dividend yield: 2.35%
Beta (5 years): 1.85
Shares outstanding: 543M
Next earnings: Nov 5, 2026

About the company

Microchip Technology Incorporated is a provider of smart, connected, and secure embedded control solutions. The Company’s semiconductor products segment designs, develops, manufactures and markets mixed-signal microcontrollers, development tools and analog, interface, mixed-signal, timing, wired and wireless connectivity devices, and memory products. The Company's technology licensing segment includes sales and licensing of the Company's intellectual property. Its products include PIC64 Microprocessors, FPGAs, myMicrochip, MPLAB X IDE, Analog, and Microcontrollers. Its development tools include Atmel START and MPLAB Discover. Its manufacturing operations include wafer fabrication, wafer probe, assembly, and test. The Company’s solutions serve customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. The Company markets and sells its products worldwide primarily through a network of direct sales personnel and distributors.

Growth and profitability fiscal year ends March 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	4,713	4,402	7,634	8,439	6,821	–
Revenue growth	7.1%	−42.3%	−9.5%	23.7%	25.4%	−2.8%
EPS (basic, normalized)	1.64	1.31	4.92	6.02	4.61	–
EPS growth	25.2%	−73.4%	−18.3%	30.6%	–	–
Gross margin	57.7%	56.1%	65.4%	67.5%	65.2%	62.4%
Net margin	2.5%	−0.1%	25.0%	26.5%	18.8%	14.6%
ROE	3.4%	0.0%	29.0%	36.1%	22.9%	18.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	272
Current ratio	1.92x
Long-term debt (mil)	5,361
Net debt (mil)	5,089
Total equity (mil)	6,451
Net debt / equity	0.79x
Net debt / EBITDA	3.05x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	4,713	+7.1%	9.8x	1,669	+14.5%	27.8x	1.64	+25.2%	46.4x
2027	6,402	+35.8%	7.3x	2,879	+72.5%	16.1x	3.63	+121.4%	21.0x
2028	7,417	+15.9%	6.3x	3,443	+19.6%	13.5x	4.55	+25.3%	16.7x
2029	8,159	+10.0%	5.7x	3,926	+14.0%	11.8x	5.06	+11.2%	15.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	6,402	+0.1%	+3.0%	+12.0%	3.63	+0.2%	+14.0%	+35.4%
2028	7,417	+0.1%	+4.4%	+9.5%	4.55	+0.3%	+10.6%	+21.5%
2029	8,159	0.0%	+3.5%	+8.8%	5.06	0.0%	+6.4%	+12.6%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,326	1,241	1,164	1,026	970	1,076	1,140	1,186	1,311	1,485
Sales mean (mil)	1,330	1,242	1,152	1,056	963	1,055	1,137	1,181	1,263	1,458
Surprise	−0.3%	0.0%	+1.0%	−2.9%	+0.8%	+2.0%	+0.3%	+0.5%	+3.8%	+1.8%
EPS reported	0.57	0.53	0.46	0.20	0.11	0.27	0.35	0.44	0.57	0.76
EPS mean	0.57	0.52	0.43	0.27	0.11	0.24	0.33	0.41	0.51	0.69
Surprise	−0.7%	+2.0%	+7.0%	−26.3%	+4.7%	+14.0%	+4.6%	+6.8%	+12.8%	+9.5%

Peer comparison Semiconductors & Semiconductor Equipment

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
MCHP Microchip Technology Inc	41.3B	3.05x	2.5%	6.41x	21.0x	16.7x	16.1x	13.5x
NVDA NVIDIA Corporation	4.87T	−0.47x	55.6%	21.31x	21.7x	12.8x	17.5x	10.4x
AVGO Broadcom Inc	1.54T	0.82x	36.2%	15.43x	27.9x	16.8x	21.7x	13.3x
MU Micron Technology, Inc.	943.1B	−0.35x	63.8%	6.81x	4.8x	4.0x	3.7x	3.1x
AMD Advanced Micro Devices, Inc.	762.1B	−1.16x	12.3%	11.33x	61.0x	29.1x	46.2x	22.0x
INTC Intel Corp	318.7B	0.87x	−0.5%	2.77x	40.2x	32.8x	15.2x	12.6x
Mean		0.46x	28.3%	10.68x	29.4x	18.7x	20.1x	12.5x
Median		0.24x	24.3%	9.07x	24.8x	16.7x	16.8x	13.0x

Technical analysis

1M−6.4%
3M+3.1%
1Y+25.1%
3Y+11.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Microchip Technology Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	4,713	4,402	7,634	8,439	6,821	5,438
Cost of revenue	1,992	1,934	2,639	2,741	2,371	2,060
Gross profit	2,721	2,468	4,996	5,698	4,450	3,379
Selling, general & administrative expenses	674	618	734	798	719	610
Research & development	1,086	984	1,097	1,118	989	836
Depreciation/amortization	431	491	605	670	862	932
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	39.7	80.9	−0.1	4.3	143	301
Other operating expenses	0	0	0	0	0	0
Operating income	490	295	2,559	3,108	1,736	698
Net interest income (expense)	−210	−250	−191	−202	−256	−355
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−6.7	−5.7	−2.2	3.8	2.8	−3.8
Net income before taxes	274	38.9	2,366	2,910	1,482	340
Provision for taxes	43.5	39.4	459	672	197	−9.9
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	230	−0.5	1,907	2,238	1,286	349
Extraordinary items	–	–	–	–	–	–
Net income	230	−0.5	1,907	2,238	1,286	349
EBIT, normalized	530	376	2,559	3,114	1,882	1,000
EBITDA, normalized	1,219	1,126	3,438	4,112	3,026	2,153
Basic EPS, normalized	1.64	1.31	4.92	6.02	4.61	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Microchip Technology Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	240	772	320	234	319	282
Receivables	895	690	1,144	1,305	1,073	998
Total inventory	1,035	1,294	1,316	1,325	854	665
Prepaid expenses	–	–	–	–	–	–
Other current assets	207	236	234	205	206	200
Total current assets	2,378	2,991	3,013	3,069	2,453	2,145
Property, plant & equipment	1,244	1,330	1,351	1,332	1,121	1,009
Goodwill	6,696	6,685	6,675	6,674	6,674	6,671
Intangibles	2,033	2,389	2,782	3,369	4,043	4,795
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	2,019	1,980	2,052	1,926	1,909	1,859
Total assets	14,370	15,375	15,873	16,370	16,200	16,479
Liabilities
Accounts payable	206	161	213	397	345	292
Payable/accrued	–	–	–	–	–	–
Accrued expenses	727	682	954	1,096	933	751
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	0	999	1,398	0	1,323
Other current liabilities	203	312	353	228	122	43.4
Total current liabilities	1,136	1,155	2,519	3,119	1,399	2,410
Long-term debt	5,496	5,630	5,000	5,042	7,687	7,581
Minority interest	–	–	–	–	–	–
Other liabilities	1,305	1,511	1,696	1,696	1,218	1,151
Total liabilities	7,938	8,296	9,215	9,857	10,305	11,142
Shareholders' equity
Preferred stock	0	0	–	0	–	0
Common stock	0.6	0.6	0.5	0.5	0.6	0.3
Additional paid-in capital	4,072	3,910	2,483	2,413	2,536	2,403
Retained earnings (accumulated deficit)	4,916	5,781	6,760	5,764	4,175	3,394
Treasury stock	−2,551	−2,612	−2,582	−1,660	−796	−434
Other equity	−4.2	−1.7	−3.5	−4.1	−20.6	−26.2
Total equity	6,432	7,078	6,658	6,514	5,895	5,337
Total liabilities & shareholders' equity	14,370	15,375	15,873	16,370	16,200	16,479

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Microchip Technology Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	230	−0.5	1,907	2,238	1,286	349
Depreciation, depletion & amortization	689	750	880	998	1,144	1,153
Deferred taxes	−64.6	−143	−27.2	206	7.9	−139
Non-cash items	275	192	210	195	372	580
Changes in working capital	−168	100	−76.7	−16.0	34.2	−27.0
Cash from operations	962	898	2,893	3,621	2,843	1,916
Investing activities
Capital expenditures	−91.1	−126	−285	−486	−370	−92.6
Other investing cash flows	−104	−162	−107	−113	−108	−80.7
Cash from investing	−196	−288	−392	−600	−478	−173
Financing activities
Financing cash flow items	−71.3	−82.9	−64.1	−75.8	−92.7	−85.8
Cash dividends paid	−1,092	−976	−912	−695	−504	−388
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−134	900	−1,439	−2,334	−1,731	−1,390
Cash from financing	−1,298	−158	−2,415	−3,105	−2,328	−1,864
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−531	452	85.7	−83.4	37.4	−121
Free cash flow	871	772	2,608	3,135	2,473	1,824

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.