Filing Flows › Comparisons › ON vs MCHP
On Semiconductor vs Microchip Technology: ON and MCHP compared
On Semiconductor is the larger company: $1.7B of revenue in its latest quarter (Q3 2026) against $1.6B for Microchip Technology (Q2 FY27). Microchip Technology is growing faster (+42% against +11% a year earlier). Microchip Technology is more profitable, with an operating margin of 28.6% against 22.0%.
Where the money goes: ON and MCHP
On Semiconductor (ON) · Q3 2026
On Semiconductor, Q3 2026: revenue $1.7B (+11% year over year), operating margin 22.0%, net earnings $314M, operating cash flow $516M. The chart follows the revenue to costs, profit and cash.
Microchip Technology (MCHP) · Q2 FY27
Microchip Technology, Q2 FY27: revenue $1.6B (+42% year over year), operating margin 28.6%, net earnings $401M, operating cash flow $419M. The chart follows the revenue to costs, profit and cash.
| On Semiconductor (ON) | Microchip Technology (MCHP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 FY27 |
| Revenue | $1.7B | $1.6B |
| Revenue growth, Y/Y | +11% | +42% |
| Gross margin | 41.4% | 65.9% |
| Operating margin | 22.0% | 28.6% |
| Net earnings | $314M | $401M |
| Net margin | 18.3% | 24.8% |
| Operating cash flow | $516M | $419M |
| Free cash flow | $489M | $396M |
| Market value | $25.2B | $32.2B |
| P/E | 37.9× | 38.4× |
| Analysts’ mean target | $96.16 | $93.29 |
Where the revenue comes from
On Semiconductor
- PSG: $890M (52%)
- AMG: $597M (35%)
- ISG: $235M (14%)
Microchip Technology
- Mixed-signal Microcontrollers: $774M (48%)
- Analog: $459M (28%)
- Other: $388M (24%)
Questions
Which is bigger, On Semiconductor or Microchip Technology?
On Semiconductor is the larger company: $1.7B of revenue in its latest quarter (Q3 2026) against $1.6B for Microchip Technology (Q2 FY27).
Is On Semiconductor or Microchip Technology growing faster?
Microchip Technology is growing faster (+42% against +11% a year earlier).
Which is more profitable, On Semiconductor or Microchip Technology?
Microchip Technology is more profitable, with an operating margin of 28.6% against 22.0%.
More: On Semiconductor earnings · how On Semiconductor makes money · Microchip Technology earnings · how Microchip Technology makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 2, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.