Microchip Technology (MCHP) FY2017 results: revenue $3.4 billion, up 56.8% on the year
Microchip Technology Inc. (MCHP) reported revenue of $3.4 billion for fiscal 2017, the year ended 31 March 2017, up 56.8% on the year before. Net income was $165 million, down 49.2%, and diluted earnings per share $0.35. The figures are the company's own, from the 10-K it filed with the SEC on 30 May 2019.
Revenue
$3.4 billion
+56.8% on the year
FY2010FY2017
Operating margin
8.1%
16.2% a year earlier
FY2010FY2017
Net income
$165 million
-49.2% on the year
FY2010FY2017
Diluted EPS
$0.35
-52.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
3,408
2,173
2,147
+56.8%
Cost of revenue
1,651
968
917
+70.5%
Gross profit
1,757
1,205
1,230
+45.8%
Gross margin
51.6%
55.5%
57.3%
Research and development
545
373
350
+46.3%
Selling, general and administrative
500
302
275
+65.7%
Operating income
276
352
426
-21.7%
Operating margin
8.1%
16.2%
19.8%
Interest expense
146
104
62.0
+40.7%
Pre-tax income
89.8
281
346
-68.1%
Income tax
-80.8
-42.6
-19.4
Effective tax rate
-90.0%
-15.2%
-5.6%
Net income
165
324
369
-49.2%
Net margin
4.8%
14.9%
17.2%
Diluted EPS
$0.35
$0.74
$0.82
-52.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,069
744
721
+43.6%
Capital expenditure
10.2
7.1
6.7
+43.9%
Free cash flow
1,059
737
715
+43.6%
Free cash flow margin
31.1%
33.9%
33.3%
Cash from investing
-2,838
800
-678
Cash from financing
595
-59.9
98.5
Depreciation and amortisation
469
283
278
+65.7%
Share-based compensation
128
71.4
58.6
+79.4%
Buybacks
0.0
364
0.0
Dividends paid
315
291
286
+8.4%
Dividend per share
$0.72
$0.72
$0.71
+0.6%
Diluted shares, weighted
470m
435m
447m
+8.0%
Shares outstanding at period end
458m
408m
404m
+12.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,271
-3.4
11.1
Non-controlling interest
0.0
0.0
16.4
Debt
2,950
2,453
1,827
+20.3%
Other liabilities
1,466
3,088
2,926
-52.5%
Total liabilities and equity
7,687
5,538
4,781
+38.8%
Fixed assets
683
609
582
+12.1%
Goodwill
2,299
1,013
571
+127.0%
Intangible assets
2,148
606
504
+254.3%
Investments
502
472
1,734
+6.3%
Cash and equivalents
909
2,093
608
-56.6%
Receivables
478
290
274
+64.9%
Inventory
417
307
279
+36.0%
Other assets
251
148
228
+69.5%
Total assets
7,687
5,538
4,781
+38.8%
10-K for the year ended 31 March 2017, filed 30 May 2019: the filing.