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Microchip Technology (MCHP) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Nov 5, 2026 · Microchip Technology (MCHP) Q2 FY27 earnings results →

Q2 FY27 Revenue up 42% year over year to $1.6B · 25¢ of every $1 of revenue kept as net profit · operating margin 28.6%

Microchip Technology made $1.6B in Q2 FY27 (+42% Y/Y): Mixed-signal Microcontrollers $774M, Analog $459M, Other $388M. Operating margin 28.6%, net earnings $401M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$1.6B
Year over year+42%
Operating margin28.6%
Net earnings$401M
Operating cash flow$419M

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Microchip Technology Q2 FY27 revenue breakdown: Sankey diagram of revenue (Mixed-signal Microcontrollers, Analog, Other), costs, profit and cash flow
Microchip Technology Q2 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.6B in Q2 FY27, up 42% year over year and up 9% from the previous quarter. Mixed-signal Microcontrollers was the largest line at 48% of revenue. Mixed-signal Microcontrollers added $0.19B year over year (up 32%), 39% of the total change.

Gross margin was 65.9%, up 9.9 points from Q2 FY26. Operating profit was $0.46B, a 28.6% margin (up 20.9 points year over year). Of the extra revenue versus Q2 FY26, 78% reached operating profit, above the 8% margin then. Operating expenses grew 10% against revenue growth of 42%. The fastest-growing cost line was Research & development (+21%). Net earnings were $0.40B, up 863% year over year. The effective tax rate was 3.9%.

Operating cash flow was $0.42B (up 376% year over year), 104% of net earnings. Non-cash charges added back $0.16B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items used $0.21B. Capital expenditures of $0.02B left free cash flow of $0.40B.

Quarterly history

Microchip Technology revenue by quarterMicrochip Technology revenue by quarter$970MQ4 FY25$1.1BQ1 FY26$1.1BQ2 FY26$1.2BQ3 FY26$1.3BQ4 FY26$1.5BQ1 FY27$1.6BQ2 FY27
Microchip Technology net earnings by quarterMicrochip Technology net earnings by quarter−$155MQ4 FY25−$18.6MQ1 FY26$41.7MQ2 FY26$62.7MQ3 FY26$144MQ4 FY26$230MQ1 FY27$401MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QNov 5, 2026$1.6B+42%28.6%$401M$419M
Q1 FY2710-QAug 6, 2026$1.5B+38%22.7%$230M$512M
Q4 FY2610-KMay 21, 2026$1.3B+35%16.6%$144M$257M
Q3 FY2610-QFeb 5, 2026$1.2B+16%12.8%$62.7M$341M
Q2 FY2610-QNov 6, 2025$1.1B-2%7.8%$41.7M$88.1M
Q1 FY2610-QAug 7, 2025$1.1B-13%3.0%−$18.6M$276M
Q4 FY2510-KMay 23, 2025$970M-27%-10.3%−$155M$206M

Charts

Microchip Technology: revenue growth, year over year and quarter over quarterMicrochip Technology: revenue growth, year over year and quarter over quarterY/YQ/Q-27%Q4 FY25-13%+11%Q1 FY26-2%+6%Q2 FY26+16%+4%Q3 FY26+35%+11%Q4 FY26+38%+13%Q1 FY27+42%+9%Q2 FY27
Latest (Q2 FY27): Y/Y +42%, Q/Q +9%.
Microchip Technology: where the cash came from (+) and went (−), TTM to Q2 FY27Microchip Technology: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$1.5BDividends−$987MNet borrowing (+) / repaid (−)−$751MOther financing$700MCash drawn (+) / kept (−)−$220MOther investing−$174MTaxes on employees’ shares−$87.8MCapital spending−$73.7MShares issued$65.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Microchip Technology: profit against cash, quarter by quarterMicrochip Technology: profit against cash, quarter by quarterNet incomeOperating cash flow−$53.6M$272MQ3 FY25−$155M$206MQ4 FY25−$18.6M$276MQ1 FY26$41.7M$88.1MQ2 FY26$62.7M$341MQ3 FY26$144M$257MQ4 FY26$230M$512MQ1 FY27$401M$419MQ2 FY27
Latest (Q2 FY27): Net income $401M, Operating cash flow $419M.
Microchip Technology: diluted shares by fiscal yearMicrochip Technology: diluted shares by fiscal year541MFY21566MFY22557MFY23548MFY24537MFY25545MFY26
+0.7% since FY21: more shares outstanding (issuance, stock pay).
Microchip Technology: long-term debt falling due (FY26)Microchip Technology: long-term debt falling due (FY26)$387M2027$1.0B2028$1.0B2029$1.9B2030$1.2B2031
Cash $240M, short-term investments —, long-term debt $5.5B at 2026-03-31.
Microchip Technology in its industry: growth against margin (80 companies, SIC 3674)Microchip Technology in its industry: growth against margin (80 companies, SIC 3674)revenue growth, year over year →↑ operating marginmedian +36%median 11%NVDAMUAVGOINTCAMDAMATTXNADINXPIMRVLAMKRONQARMFSLRMPWRNXTSWKSQorvo, Inc.UCTTALABPENGCRUSDIODCRDOVIAVMTSIOSISSMTCKLICARRYICHRSEDGSITMSYNAENPHLSCCIPGPFORMALGMAAOITESLABRMBSMXLPLABSHLSCBRSAOSLSkyWater Technology, LLCWOLFPOWINLSTAMBALASRAXTIINDIMXAMBQFTCIAIPTYGOLPTHMRAMNVTSKOPNBZAIGUERLEDSGSITNVECSODIQUIKPRSOGCTSMOBXALMUASTIIPWRMCHP (+42%, 29%)
Semiconductors & Related Devices; dot size is quarterly revenue; dashed lines are the industry's medians.

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🔄Rotation against the market and its industry (RRG)interactive

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Customers and suppliers named in filings

Sells to

About Microchip Technology

We develop, manufacture and sell smart, connected and secure embedded control solutions used by our customers for a wide variety of applications. With over 35 years of technology leadership, our broad product portfolio offers a Total System Solution for our customers that can provide a large portion of the silicon requirements in their applications. TSS is a combination of hardware, software and services which help our customers increase their revenue, reduce their costs and manage their risks compared to other solutions. Our strategic focus includes general purpose and specialized mixed-signal microcontrollers, microprocessors, analog, FPGA, data center, networking, and memory products. In July 2024, we entered the 64-bit mixed-signal microprocessor market furthering our expansion beyond 32-bit architecture.

In its own words, from its 10-K, filed May 21, 2026.

Microchip Technology against its Semiconductors & Related Devices peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +42% against the peers' median +42%. Operating margin: 28.6% against the peers' median 40.1%.

CompanyQuarterRevenueY/YOp. margin
MCHP Microchip TechnologyQ2 FY27$1.6B+42%28.6%
NVDA NVIDIAQ2 FY27$96.2B+106%66.2%
MU Micron TechnologyQ4 FY26$54.2B+379%80.7%
AVGO BroadcomQ3 FY26$29.6B+86%53.9%
INTC IntelQ3 2026$16.5B+21%15.3%
AMD Advanced Micro DevicesQ3 2026$13.4B+45%21.2%
AMAT Applied MaterialsQ3 FY26$9.1B+25%33.7%
TXN Texas InstrumentsQ3 2026$6.1B+28%47.5%
ADI Analog DevicesQ3 FY26$4.0B+40%40.1%

Source: Microchip Technology 10-Q on SEC EDGAR · CIK 827054 · Semiconductors & Related Devices

Guidance and outlook

Microchip Technology: what its forward-looking statements are about (10-Q filed 2026-11-05)Microchip Technology: what its forward-looking statements are about (10-Q filed 2026-11-05)Other12Capital spending6Margins3Tax3Demand2Financing2The economy2Legal & regulation2Buybacks & dividends2Supply chain1
36 statements; tone -0.03 (−1 all cautious, +1 all confident); 6 hedged.
Microchip Technology: outlook statements against the filing beforeMicrochip Technology: outlook statements against the filing beforeConfident3Cautious4

13F: who owns MCHP and who is buying

Largest holders of MCHP (13F)Largest holders of MCHP (13F)BlackRock$5.8BVanguard Group$4.7BVanguard Capital Management LLC$3.2BVanguard Portfolio Management LLC$3.0BState Street$2.6BInvesco$2.3BGeode Capital Management, LLC$1.4BBoston Partners$1.3BBank of America$1.1BAristotle Capital Management, LLC$985M
Funds' net buying of MCHP by quarter (13F)Funds' net buying of MCHP by quarter (13F)−$402M2024-09−$26.3M2024-12$737M2025-03$2.3B2025-06−$2.5B2025-09$1.8B2025-12−$437M2026-03$1.7B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on MCHP

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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