Microchip Technology develops and sells embedded-control semiconductors, including PIC microcontrollers, analog devices, microprocessors, FPGAs and memory. Software, development tools, engineering support and intellectual-property licensing complement its chips across industrial, automotive, aerospace and defense, communications, computing and consumer applications.
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A snapshot of what MICROCHIP TECHNOLOGY INC owns and owes at a point in time.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Mar 31, 20240000827054-24-000098 | May 23, 2024 | 10-K | Open 10-Ksec.gov |
| Mar 31, 20250000827054-25-000077 | May 23, 2025 | 10-K | Open 10-Ksec.gov |
| Mar 31, 20260000827054-26-000016 | May 21, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Microchip is recovering from a severe customer-inventory correction, but stronger shipments have not yet restored its former annual profitability or removed financing constraints. Fiscal 2026 revenue recovered to $4.71 billion, while GAAP net income was $230.0 million; preferred dividends left $118.8 million attributable to common shareholders. The June 2026 quarter showed a much stronger recovery in sales, margins and operating cash flow. However, annual dividends exceeded internally generated post-capex cash, and a conditional $1.25 billion convertible-note repurchase could create an early cash requirement in June 2027. Credit access remains conditional, with tightening leverage limits and undisclosed covenant headroom. As of October 24, 2026, the supplied evidence establishes June-quarter results and an August-issued September-quarter forecast—not September results or a completed Fab 2 property sale.
Sources: 10-K · 2026-03-31 · 10-Q · 2026-06-30 · EX-99.1 · 2026-08-06 · EX-10.1 · 2025-03-25 · EX-4.1 · 2024-05-28
Microchip sells components that customers design into electronic systems, supported by software, development tools and engineering assistance. Management's Total System Solution strategy aims to supply more of each customer's system rather than compete only on individual chips. Microcontrollers generated half of fiscal 2026 sales, with analog devices and a diverse Other category supplying the remainder. Its two reporting segments are semiconductor products and technology licensing—not those three product categories.
Owned factories provide manufacturing control but expose profits to fixed costs when production falls. External foundries supplied products representing approximately 65% of fiscal 2026 sales. Licensing has no assigned cost of sales, but its reported gross margin is not a fully burdened operating margin because operating expenses are not allocated to segments.
Sources: 10-K · 2026-03-31 · 10-K · 2024-03-31
Revenue declined from $7,634.4 million in fiscal 2024 to $4,401.6 million in fiscal 2025, then recovered to $4,713.1 million in fiscal 2026. Management attributes the downturn to weak economic conditions and excess customer inventories, and the recovery to inventory normalization and design wins entering production. It does not quantify the separate price, volume or design-win contributions.
Fiscal 2026 operating income improved to $490.1 million, still far below fiscal 2024's $2,571.0 million. Lower inventory-reserve expense, higher licensing revenue, lower acquired-intangible amortization and fewer special charges helped. Factory underutilization charges nevertheless increased, while employee compensation pushed R&D and overhead higher. The annual improvement therefore was not simply better factory utilization or lower recurring spending.
Sources: 10-K · 2024-03-31 · 10-K · 2025-03-31 · 10-K · 2026-03-31
Fiscal 2026 operating cash flow was $962.1 million, well above $230.0 million of net income because depreciation, amortization and stock compensation were added back. Inventory reduction released cash, but receivables, tax payments and customer-deposit refunds offset that benefit. Capital expenditure fell to $91.1 million as major factory expansions remained paused.
Common dividends of $984.0 million and preferred cash dividends of $108.5 million exceeded operating cash flow even before capital spending. Management acknowledges borrowing to fund part of dividends in several recent quarters. No common shares were repurchased in fiscal 2026. Cash ended the year at $240.3 million, versus $771.7 million a year earlier, when preferred-equity issuance had supported liquidity.
Sources: 10-K · 2026-03-31 · 10-K · 2025-03-31
At June 30, 2026, cash was $272.3 million and debt's GAAP carrying amount was $5,361.3 million. The undrawn $2.25 billion revolver is not cash; outstanding commercial paper also reduces intended borrowing availability. Zero balance-sheet current debt reflects intended refinancing, not the absence of contractual near-term maturities.
The $1.25 billion 2024 convertible notes mature in 2030, but holders may require cash repurchase on June 1, 2027 if the specified share-price test is met. This is an existing debt obligation with conditional earlier payment, not additional debt. Meanwhile, scheduled leverage ceilings tighten toward 3.50 times contractual EBITDA. Reported compliance does not reveal actual headroom, and neither refinancing plans nor capped-call protection guarantee principal funding.
Sources: 10-Q · 2026-06-30 · EX-10.1 · 2025-03-25 · EX-4.1 · 2024-05-28
Orders received and shipped within the same quarter limit visibility, and distributor shipments do not equal final consumption. Foundry concentration, government-procurement restrictions and international trade rules can constrain supply or customer access. Malaysia's contested assessment remains subject to appeal and a collection stay; its June 2026 equivalent was approximately $474.7 million, not an established immediate payment. The case-specific reserve and remaining U.S. fiscal 2016 tax outcome are undisclosed. Restored operations after the August 2024 cyber incident do not eliminate future exposure, particularly without dedicated cyber insurance.
Sources: 10-Q · 2026-06-30
The August 6, 2026 filings reported June-quarter revenue of $1,484.7 million, GAAP operating income of $336.8 million and common-shareholder income of $202.0 million. Gross margin reached 63.2%, helped by mix, lower inventory-reserve and underutilization charges, and licensing. Operating cash flow of $511.5 million covered that quarter's capital expenditure and common and preferred cash dividends—an improvement from fiscal 2026's annual funding pattern.
Management forecast September-quarter revenue of $1.589 billion–$1.618 billion and further margin improvement. Those remain forecasts in the supplied record. Separately, stockholders approved 12 million additional shares of equity-plan issuance capacity on August 18; authorization is not issuance or realized dilution.
Sources: 8-K · 2026-08-06 · 10-Q · 2026-06-30 · EX-99.1 · 2026-08-06 · 8-K · 2026-08-18
USD 4.7131 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 4.7131 bn | 7.1% |
| 2025 | USD 4.4016 bn | -42.3% |
| 2024 | USD 7.6344 bn | — |
Consolidated net sales from customer contracts, including semiconductor products and technology licensing.
Sources: 10-K · 2026-03-31
USD 230 m
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 230 m | Turned profitable |
| 2025 | USD -500,000 | Turned loss-making |
| 2024 | USD 1.9069 bn | — |
Net income or loss after income taxes and before preferred-dividend deductions.
Sources: 10-K · 2026-03-31
USD 962.1 m
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 962.1 m | 7.1% |
| 2025 | USD 898.1 m | -69.0% |
| 2024 | USD 2.8927 bn | — |
Consolidated operating cash flow reported in the statement of cash flows; not accounting profit.
Sources: 10-K · 2026-03-31
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