Microchip Technology (MCHP) FY2015 results: revenue $2.1 billion, up 11.2% on the year
Microchip Technology Inc. (MCHP) reported revenue of $2.1 billion for fiscal 2015, the year ended 31 March 2015, up 11.2% on the year before. Net income was $369 million, down 6.6%, and diluted earnings per share $0.82. The figures are the company's own, from the 10-K it filed with the SEC on 27 May 2015.
Revenue
$2.1 billion
+11.2% on the year
FY2008FY2015
Operating margin
19.8%
23.8% a year earlier
FY2008FY2015
Net income
$369 million
-6.6% on the year
FY2008FY2015
Diluted EPS
$0.82
-9.3% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,147
1,931
1,582
+11.2%
Cost of revenue
917
802
743
+14.3%
Gross profit
1,230
1,129
838
+8.9%
Gross margin
57.3%
58.4%
53.0%
Research and development
350
305
255
+14.6%
Selling, general and administrative
275
267
261
+2.8%
Operating income
426
459
179
-7.2%
Operating margin
19.8%
23.8%
11.3%
Interest expense
62.0
48.7
40.9
+27.3%
Pre-tax income
346
432
152
-20.0%
Income tax
-19.4
37.1
24.8
Effective tax rate
-5.6%
8.6%
16.3%
Net income
369
395
127
-6.6%
Net margin
17.2%
20.5%
8.1%
Diluted EPS
$0.82
$0.91
$0.31
-9.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
721
677
459
+6.6%
Capital expenditure
6.7
9.1
4.7
-26.5%
Free cash flow
715
667
455
+7.0%
Free cash flow margin
33.3%
34.6%
28.7%
Cash from investing
-678
-503
-950
Cash from financing
98.5
-235
382
Depreciation and amortisation
278
189
204
+47.1%
Share-based compensation
58.6
53.8
52.1
+8.9%
Buybacks
0.0
0.0
n/a
Dividends paid
286
281
274
+1.9%
Dividend per share
$0.71
$0.71
$0.70
+0.6%
Diluted shares, weighted
447m
435m
412m
+2.7%
Shares outstanding at period end
404m
400m
393m
+1.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
11.1
2,135
1,933
-99.5%
Non-controlling interest
16.4
0.0
n/a
Debt
1,827
1,021
983
+79.0%
Other liabilities
2,926
911
935
+221.1%
Total liabilities and equity
4,781
4,068
3,851
+17.5%
Fixed assets
582
532
515
+9.3%
Goodwill
571
276
271
+106.9%
Intangible assets
504
445
530
+13.2%
Investments
1,734
1,677
1,308
+3.4%
Cash and equivalents
608
467
528
+30.3%
Receivables
274
242
230
+13.0%
Inventory
279
263
242
+6.4%
Other assets
228
165
227
+37.7%
Total assets
4,781
4,068
3,851
+17.5%
10-K for the year ended 31 March 2015, filed 27 May 2015: the filing.