Microchip Technology (MCHP) FY2024 results: revenue $7.6 billion, down 9.5% on the year
Microchip Technology Inc. (MCHP) reported revenue of $7.6 billion for fiscal 2024, the year ended 31 March 2024, down 9.5% on the year before. Net income was $1.9 billion, down 14.8%, and diluted earnings per share $3.48. The figures are the company's own, from the 10-K it filed with the SEC on 23 May 2024.
Revenue
$7.6 billion
-9.5% on the year
FY2017FY2024
Operating margin
33.7%
36.9% a year earlier
FY2017FY2024
Net income
$1.9 billion
-14.8% on the year
FY2017FY2024
Diluted EPS
$3.48
-13.4% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,893
3,621
2,843
-20.1%
Capital expenditure
285
486
370
-41.4%
Free cash flow
2,608
3,135
2,473
-16.8%
Free cash flow margin
34.2%
37.1%
36.3%
Cash from investing
-392
-600
-478
Cash from financing
-2,415
-3,105
-2,328
Depreciation and amortisation
880
998
1,144
-11.9%
Share-based compensation
178
170
210
+4.2%
Buybacks
982
946
426
+3.8%
Dividends paid
912
695
504
+31.1%
Dividend per share
$1.68
$1.26
$0.91
+33.2%
Diluted shares, weighted
548m
557m
566m
-1.7%
Shares outstanding at period end
537m
545m
555m
-1.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
6,658
6,514
5,895
+2.2%
Debt
6,000
6,440
7,687
-6.8%
Operating lease liabilities
129
129
129
+0.1%
Other liabilities
3,087
3,288
2,488
-6.1%
Total liabilities and equity
15,873
16,370
16,200
-3.0%
Fixed assets
1,195
1,178
968
+1.4%
Goodwill
6,675
6,674
6,674
+0.0%
Intangible assets
2,782
3,369
4,043
-17.4%
Investments
n/a
0.0
2.0
Cash and equivalents
320
234
317
+36.6%
Receivables
1,144
1,305
1,073
-12.4%
Inventory
1,316
1,325
854
-0.7%
Other assets
2,442
2,286
2,268
+6.8%
Total assets
15,873
16,370
16,200
-3.0%
10-K for the year ended 31 March 2024, filed 23 May 2024: the filing.