MICROCHIP TECHNOLOGY INC

10-K & 10-Q Filings

Microchip Technology Incorporated is a company that develops, manufactures, and sells smart, connected, and secure embedded control solutions. Its strategic focus is on providing cost-effective solutions with small size, high performance, extreme low power usage, wide voltage range operation, mixed-signal integration, and ease of development. The company offers a broad family of proprietary mixed-signal microcontroller products, analog products, FPGA products, royalties associated with licenses for the use of its technologies, memory products, timing systems, manufacturing services, and products for aerospace applications. Its manufacturing operations include wafer fabrication, wafer probe, assembly, and test. The company markets and sells its products worldwide primarily through a network of direct sales personnel and distributors. It competes on the basis of the technical innovation and performance of its embedded control products, including performance, analog, digital, and mixed-signal functionality, field programmability, memory density, low power consumption, extended voltage ranges, reliability, security and functional safety, packaging alternatives, comprehensive suite of development tools, ease of use, functionality of application development systems, hardware, software, and tool compatibility within product families, dependable delivery, quality, and availability, technical and innovative service and support, time to market, and total solution cost. The company's website is www.microchip.com and its ticker symbol is MCHP.

12 mos ending Mar 31, 201212 mos ending Mar 31, 201312 mos ending Mar 31, 201412 mos ending Mar 31, 201512 mos ending Mar 31, 201612 mos ending Mar 31, 201712 mos ending Mar 31, 201812 mos ending Mar 31, 201912 mos ending Mar 31, 202012 mos ending Mar 31, 202112 mos ending Mar 31, 202212 mos ending Mar 31, 20239 mos ending Dec 31, 20229 mos ending Dec 31, 2023CAGR %YoY %Revenue (+)
$1383.18
1581.62
1931.22
2147.04
2173.33
3407.81
3980.80
5349.50
5274.20
5438.40
6820.90
8438.70
6206.00
6308.60
17.87%1.65%Cost of Revenue (-)
$590.78
743.16
802.47
917.47
967.87
1650.61
1560.10
2418.20
2032.10
2059.60
2371.30
2740.80
2027.40
2102.80
14.97%3.72%Gross Profit (+)
$792.39
838.46
1128.74
1229.56
1205.46
1757.20
2420.70
2931.30
3242.10
3378.80
4449.60
5697.90
4178.60
4205.80
19.64%0.65%Selling, General & Administrative (-)
$212.39
261.47
267.28
274.81
301.67
499.81
452.10
682.90
676.60
610.30
718.90
797.70
594.20
572.40
12.78%-3.67%Research & Development (-)
$182.65
254.72
305.04
349.54
372.60
545.29
529.30
826.30
877.80
836.40
989.10
1118.30
820.00
857.10
17.91%4.52%Non-recurring Operating Expenses (-)
$0.84
32.17
3.02
2.84
3.96
98.61
17.50
33.70
46.70
1.70
29.50
-4.00
-6.10
4.60
175.41%Operating Expenses (-)
$395.88
659.91
669.88
803.94
853.12
1481.38
1484.40
2217.00
2595.00
2380.70
2600.00
2581.90
1910.60
1888.30
18.59%-1.17%Costs & Expenses (Total) (-)
$986.66
1403.07
1472.35
1721.42
1820.99
3131.99
3044.50
4635.20
4627.10
4440.30
4971.30
5322.70
3938.00
3991.10
16.56%1.35%Operating Income/Loss (+)
$396.52
178.55
458.86
425.62
352.35
275.82
936.30
714.30
647.10
998.10
1849.60
3116.00
2268.00
2317.50
20.61%2.18%Non-operating Income/Expense (+)
$17.45
14.54
22.21
-17.68
32.97
-39.68
-6.90
0.60
-301.70
-110.10
-2.40
-3.70
-8.10
-118.92%Interest Expense (-)
$34.27
40.91
48.72
62.03
104.02
146.35
199.00
502.90
497.30
356.90
257.00
203.90
156.40
143.20
17.60%-8.44%Earnings before Tax (+)
$379.69
152.18
432.35
345.91
281.29
89.79
737.30
204.50
150.40
339.50
1482.50
2909.70
2107.90
2166.20
20.34%2.77%Tax Expense (-)
$42.99
24.79
37.07
-19.42
-42.63
-80.81
481.90
-151.40
-420.20
-9.90
197.00
672.00
474.20
414.00
28.39%-12.70%Income/Loss (Continuing Operations) (+)
$336.70
127.39
395.28
365.32
323.93
170.59
255.40
355.90
570.60
349.40
1285.50
2237.70
1633.70
1752.20
18.79%7.25%Income/Loss (Discontinued Operations) (+)
$
-5.95
Profit/Loss (+)
$
365.32
323.93
164.64
255.40
Net Income/Loss (NCI) (-)
$
-3.68
-0.21
Net Income/Loss (+)
$336.70
127.39
395.28
369.01
324.13
164.64
255.40
355.90
570.60
349.40
1285.50
2237.70
1633.70
1752.20
18.79%7.25%Net Income/Loss (Common) (+)
$336.70
127.39
395.28
369.01
324.13
164.64
255.40
355.90
570.60
349.40
1285.50
2237.70
1633.70
1752.20
18.79%7.25%EPS (Basic)
$1.76
0.65
1.99
1.84
1.59
0.76
1.10
1.51
2.39
1.35
2.33
4.07
2.96
3.23
7.92%9.12%EPS (Diluted)
$1.65
0.62
1.82
1.65
1.49
0.71
1.03
1.42
2.23
1.29
2.27
4.02
2.93
3.19
8.43%8.87%Weighted Avg Shares (Basic)
191.28
194.59
198.29
200.94
203.38
217.20
232.90
236.20
238.90
259.60
552.30
550.40
551.50
543.00
10.08%-1.54%Weighted Avg Shares (Diluted)
203.52
205.78
217.63
223.56
217.39
234.81
248.90
249.90
256.20
270.60
565.90
557.30
558.40
549.00
9.59%-1.68%Cash
$635.75
528.33
466.60
607.82
2092.75
908.68
901.30
428.60
401.00
280.00
317.40
234.00
288.90
281.00
-8.69%-2.73%Short-term Investments
$823.25
1050.26
878.18
1351.05
353.28
394.09
1295.30
2.30
2.00
2.00
2.00
Receivables
$170.20
229.96
242.41
273.94
290.18
478.37
563.70
880.60
934.00
997.70
1072.60
1305.30
1175.00
1398.10
20.35%18.99%Inventory
$217.28
242.33
262.73
279.46
306.81
417.20
476.20
711.70
685.70
665.00
854.40
1324.90
1165.40
1311.10
17.86%12.50%Prepaid Expenses (Current)
$25.66
37.44
31.76
34.72
41.99
41.35
63.90
Other Assets (Current)
$143.72
148.05
87.73
117.64
11.69
65.34
55.90
191.60
194.50
200.50
206.20
205.10
204.40
229.40
3.29%12.23%Assets (Current)
$2015.86
2236.37
1969.40
2664.62
3096.71
2305.04
3356.30
2214.80
2217.20
2145.20
2452.60
3069.30
2833.70
3219.60
3.90%13.62%Securities & Long-term Investments
$328.59
257.45
798.71
383.33
118.55
107.46
Property, Plant & Equipment (Net)
$516.61
514.54
531.97
581.57
609.40
683.34
767.90
996.70
876.10
854.70
967.90
1177.90
1113.70
1208.30
7.78%8.49%Goodwill & Intangibles
$183.95
801.48
721.60
1075.69
1619.00
4447.10
3961.00
6685.60
12367.10
11465.40
10716.70
10042.60
10218.40
9611.90
43.85%-5.94%Other Assets
$38.77
41.56
45.96
75.51
123.86
143.94
172.00
8452.90
1965.70
2013.50
2062.30
2080.50
1950.30
2103.20
43.63%7.84%Assets (Non-current)
$1067.91
1615.03
2098.23
2116.10
2470.80
5381.84
4900.90
16135.20
15208.90
14333.60
13746.90
13301.00
13282.40
12923.40
25.77%-2.70%Assets (Total)
$3083.78
3851.41
4067.63
4780.71
5567.52
7686.88
8257.20
18350.00
17426.10
16478.80
16199.50
16370.30
16116.10
16143.00
16.39%0.17%Accounts Payable
$139.16
202.66
170.78
187.84
198.58
361.68
373.70
1013.70
1028.60
1086.70
1399.00
1720.40
1611.10
1631.10
25.68%1.24%Debt (Current)
$
17.50
50.00
1309.90
1360.80
608.80
1322.90
1398.20
1662.10
Other Liabilities (Current)
$108.71
138.95
147.80
166.13
183.43
292.81
333.80
Liabilities (Current)
$247.87
341.61
336.08
353.97
382.01
704.45
2017.40
2374.50
1637.40
2409.60
1399.00
3118.60
1611.10
3293.20
25.89%104.41%Debt (Non-current)
$355.05
983.38
1003.26
1826.86
2483.04
2900.52
1758.40
8946.20
8873.40
7581.20
7687.40
5041.70
6588.70
4033.30
27.28%-38.78%Other Liabilities
$490.18
592.94
592.83
538.86
551.55
811.20
1201.60
1741.80
1329.80
1150.90
1218.30
1696.40
1604.70
1736.30
11.95%8.20%Liabilities (Non-current)
$845.23
1576.32
1596.09
2365.72
3034.59
3711.72
2960.00
10688.00
10203.20
8732.10
8905.70
6738.10
8193.40
5769.60
20.77%-29.58%Liabilities (Total)
$1093.10
1917.93
1932.17
2719.69
3416.60
4416.22
4977.40
13062.50
11840.60
11141.70
10304.70
9856.70
9804.50
9062.80
22.13%-7.56%Treasury Stock
$780.89
682.22
577.38
515.68
820.07
731.88
662.60
582.20
500.60
433.80
796.30
1660.20
1407.80
2208.60
7.10%56.88%Retained Earnings
$1499.37
1352.93
1467.01
1549.54
1582.59
1479.40
1397.30
3210.60
3432.40
3393.50
4175.20
5764.10
5356.00
6847.30
13.02%27.84%AOCI
$3.10
6.93
1.05
11.08
-3.36
-14.38
-17.60
-20.70
-21.60
-26.20
-20.60
-4.10
-17.50
-4.80
72.57%Shareholder's Equity
$1990.67
1933.47
2135.46
2044.65
2150.92
3270.71
3279.80
5287.50
5585.50
5337.10
5894.80
6513.60
6311.60
7080.20
11.38%12.18%Liabilities & Equity
$3083.78
3851.41
4067.63
4780.71
5567.52
7686.88
8257.20
18350.00
17426.10
16478.80
16199.50
16370.30
16116.10
16143.00
16.39%0.17%Net Income/Loss
$336.70
127.39
395.28
365.32
323.93
164.64
255.40
355.90
570.60
349.40
1285.50
2237.70
1633.70
1752.20
18.79%7.25%Depreciation & Amortization
$107.16
212.51
210.82
305.50
344.20
529.83
728.90
1007.30
1354.40
1241.50
1199.90
1015.10
767.70
685.80
22.68%-10.67%Increase/Decrease in Working Capital
$116.19
-11.25
-15.37
8.96
-78.88
-294.82
-264.50
-184.70
66.70
27.00
-34.20
16.00
-190.30
155.90
-16.49%181.92%Share-based Compensation
$38.29
52.07
53.79
58.60
71.42
128.16
93.20
166.40
170.20
198.30
210.20
170.40
126.50
134.70
14.54%6.48%Adjustments to Reconcile Net Income
$59.75
318.79
281.28
355.86
420.56
885.46
1164.20
1318.90
973.20
1567.10
1557.20
1383.30
1277.80
710.50
33.06%-44.40%Net Cash (Operating)
$396.46
446.18
676.56
721.18
744.48
1059.45
1419.60
1674.80
1543.80
1916.50
2842.70
3621.00
2911.50
2462.70
22.27%-15.41%Capital Expenditure
$106.36
75.80
117.09
440.70
449.97
60.71
203.60
8097.90
135.90
173.30
477.70
599.50
448.70
322.00
17.02%-28.24%Net Cash (Investing)
$-256.48
-936.76
-503.28
-678.32
800.40
-2837.97
-1011.70
-6811.00
-133.20
-173.30
-477.70
-599.50
-448.70
-320.90
28.48%Increase/Decrease in Debt
$
620.00
349.55
239.77
-0.68
2208.01
-74.20
5109.80
-1069.90
-1414.60
-1376.00
-1470.30
-1317.10
-840.40
36.19%Increase/Decrease in Equity
$57.46
35.70
29.93
1.59
-337.27
5.28
40.80
-30.10
49.90
39.10
-363.60
-863.50
-617.60
-538.50
12.81%Interest Expenses
$
355.20
265.40
207.80
Dividends Paid
$266.18
273.82
281.20
286.48
291.09
315.43
337.50
344.40
350.10
388.30
503.80
695.30
499.40
669.00
9.12%33.96%Net Cash (Financing)
$-208.15
382.17
-235.02
98.55
-59.94
595.46
-415.30
4663.50
-1438.20
-1864.20
-2327.60
-3104.90
-2491.30
-2094.80
15.92%Cash Taxes Paid
$
101.30
87.30
141.40
Effect of Exchange Rate
$
0.99
-0.20
-1.01
Increase/Decrease in Cash
$-68.17
-107.42
-61.73
141.21
1484.94
-1184.07
-7.40
-472.70
-27.60
-121.00
37.40
-83.40
-28.50
47.00
264.91%Cash (Beginning)
$703.92
635.75
528.33
466.60
607.82
2092.75
908.70
901.30
428.60
401.00
280.00
317.40
317.40
234.00
-6.99%-26.28%Cash (Ending)
$635.75
528.33
466.60
607.82
2092.75
908.68
901.30
428.60
401.00
280.00
317.40
234.00
288.90
281.00
-8.69%-2.73%NOPAT
$351.62
149.47
419.52
449.51
405.75
524.04
324.33
1243.13
2455.02
1027.21
1673.19
2396.35
1757.78
1874.58
19.06%6.64%Gross Margin %
57.29%
53.01%
58.45%
57.27%
55.47%
51.56%
60.81%
54.80%
61.47%
62.13%
65.23%
67.52%
67.33%
66.67%
Operating Margin %
28.67%
11.29%
23.76%
19.82%
16.21%
8.09%
23.52%
13.35%
12.27%
18.35%
27.12%
36.93%
36.55%
36.74%
NOPAT Margin %
25.42%
9.45%
21.72%
20.94%
18.67%
15.38%
8.15%
23.24%
46.55%
18.89%
24.53%
28.40%
28.32%
29.71%
Net Margin %
24.34%
8.05%
20.47%
17.19%
14.91%
4.83%
6.42%
6.65%
10.82%
6.42%
18.85%
26.52%
26.32%
27.77%
Tax Rate %
11.32%
16.29%
8.57%
-5.61%
-15.16%
-90.00%
65.36%
-74.03%
-279.39%
-2.92%
9.54%
23.10%
22.50%
19.11%
ROA
11.40%
3.88%
10.31%
9.40%
7.29%
6.82%
3.93%
6.77%
14.09%
6.23%
10.33%
14.64%
10.91%
11.61%
ROE
17.66%
7.73%
19.65%
21.98%
18.86%
16.02%
9.89%
23.51%
43.95%
19.25%
28.38%
36.79%
27.85%
26.48%
ROIC
33.22%
8.73%
24.13%
20.53%
14.52%
8.88%
5.70%
14.31%
17.25%
7.80%
13.35%
19.38%
14.23%
15.39%
Asset Turnover
0.45
0.41
0.47
0.45
0.39
0.44
0.48
0.29
0.30
0.33
0.42
0.52
0.39
0.39
Inventory Turnover
2.72
3.07
3.05
3.28
3.15
3.96
3.28
3.40
2.96
3.10
2.78
2.07
1.74
1.60
Equity Multiplier
1.55
1.99
1.90
2.34
2.59
2.35
2.52
3.47
3.12
3.09
2.75
2.51
2.55
2.28
Current Ratio
8.13
6.55
5.86
7.53
8.11
3.27
1.66
0.93
1.35
0.89
1.75
0.98
1.76
0.98
Quick Ratio
6.57
5.29
4.72
6.31
7.16
2.53
1.37
0.55
0.82
0.53
0.99
0.49
0.91
0.51
Debt/Equity Ratio
0.18
0.51
0.48
0.89
1.15
0.90
0.94
1.95
1.70
1.67
1.30
0.99
1.04
0.80
Interest Coverage Ratio
1.82
3.76
8.90
Working Capital/Sales
0.26
0.25
0.25
0.25
0.26
0.23
0.24
0.19
0.19
0.16
0.12
0.14
0.16
0.22
R&D/Sales
0.13
0.16
0.16
0.16
0.17
0.16
0.13
0.15
0.17
0.15
0.15
0.13
0.13
0.14
Dividend Payout Ratio %
75.70%
183.20%
67.03%
63.73%
71.74%
60.19%
104.06%
27.70%
14.26%
37.80%
30.11%
29.01%
28.41%
35.69%
Total Payout
$208.72
-381.87
-98.27
45.12
629.03
-1897.86
370.90
-4735.30
1725.30
2029.20
2451.20
3029.10
2434.10
2047.90
27.53%-15.87%Payout Ratio %
59.36%
-255.49%
-23.43%
10.04%
155.03%
-362.16%
114.36%
-380.92%
70.28%
197.55%
146.50%
126.40%
138.48%
109.25%