Microchip Technology (MCHP) FY2023 results: revenue $8.4 billion, up 23.7% on the year
Microchip Technology Inc. (MCHP) reported revenue of $8.4 billion for fiscal 2023, the year ended 31 March 2023, up 23.7% on the year before. Net income was $2.2 billion, up 74.1%, and diluted earnings per share $4.02. The figures are the company's own, from the 10-K it filed with the SEC on 25 May 2023.
Revenue
$8.4 billion
+23.7% on the year
FY2016FY2023
Operating margin
36.9%
27.1% a year earlier
FY2016FY2023
Net income
$2.2 billion
+74.1% on the year
FY2016FY2023
Diluted EPS
$4.02
+77.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,621
2,843
1,916
+27.4%
Capital expenditure
486
370
92.6
+31.4%
Free cash flow
3,135
2,473
1,824
+26.8%
Free cash flow margin
37.1%
36.3%
33.5%
Cash from investing
-600
-478
-173
Cash from financing
-3,105
-2,328
-1,864
Depreciation and amortisation
998
1,144
1,153
-12.7%
Share-based compensation
170
210
198
-18.9%
Buybacks
946
426
0.0
+122.2%
Dividends paid
695
504
388
+38.0%
Dividend per share
$1.26
$0.91
$0.75
+38.8%
Diluted shares, weighted
557m
566m
541m
-1.5%
Shares outstanding at period end
545m
555m
547m
-1.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
6,514
5,895
5,337
+10.5%
Debt
6,440
7,687
8,904
-16.2%
Operating lease liabilities
129
129
125
-0.2%
Other liabilities
3,288
2,488
2,112
+32.1%
Total liabilities and equity
16,370
16,200
16,479
+1.1%
Fixed assets
1,178
968
855
+21.7%
Goodwill
6,674
6,674
6,671
0.0%
Intangible assets
3,369
4,043
4,795
-16.7%
Investments
0.0
2.0
2.0
Cash and equivalents
234
317
280
-26.3%
Receivables
1,305
1,073
998
+21.7%
Inventory
1,325
854
665
+55.1%
Other assets
2,286
2,268
2,214
+0.8%
Total assets
16,370
16,200
16,479
+1.1%
10-K for the year ended 31 March 2023, filed 25 May 2023: the filing.