Financials Microchip Technology, Inc.

Equities

MCHP

US5950171042

Semiconductors

Market Closed - Nasdaq Other stock markets 04:00:00 2024-06-07 pm EDT			5-day change	1st Jan Change
92.85 ^USD	-0.55%		-4.50%	+2.96%

Jun. 05	Transcript : Microchip Technology Incorporated Presents at BofA Securities 2024 Global Technology Conference, Jun-05-2024 02:40 PM
Jun. 05	Transcript : Microchip Technology Incorporated Presents at Stifel 2024 Cross Sector Insight Conference, Jun-05-2024 09:45 AM

Valuation

Fiscal Period: Maart	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	16,241	41,795	41,777	45,894	48,478	49,850	-	-
Enterprise Value (EV) ¹	25,320	50,417	49,145	52,100	54,158	54,068	54,554	53,375
P/E ratio	30.4 x	120 x	33.1 x	20.8 x	25.8 x	70 x	32.5 x	25.6 x
Yield	2.16%	0.98%	1.21%	1.51%	1.87%	2.03%	2.27%	2.3%
Capitalization / Revenue	3.08 x	7.69 x	6.12 x	5.44 x	6.35 x	9.08 x	7.2 x	6.29 x
EV / Revenue	4.8 x	9.27 x	7.21 x	6.17 x	7.09 x	9.84 x	7.88 x	6.74 x
EV / EBITDA	11.9 x	21.2 x	15.1 x	12.1 x	14.9 x	25.5 x	17.6 x	14.2 x
EV / FCF	17.2 x	27.6 x	19.9 x	16.6 x	20.8 x	28.7 x	25.9 x	22 x
FCF Yield	5.83%	3.62%	5.03%	6.02%	4.81%	3.49%	3.87%	4.54%
Price to Book	3.11 x	7.96 x	7.21 x	7.08 x	7.3 x	7.71 x	7.76 x	7.11 x
Nbr of stocks (in thousands)	479,076	538,524	555,991	547,796	540,388	536,886	-	-
Reference price ²	33.90	77.61	75.14	83.78	89.71	92.85	92.85	92.85
Announcement Date	5/7/20	5/6/21	5/9/22	5/4/23	5/6/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	5,274	5,438	6,821	8,439	7,634	5,493	6,921	7,923
EBITDA ¹	2,129	2,375	3,246	4,288	3,623	2,119	3,095	3,753
EBIT ¹	1,907	2,154	2,965	3,960	3,349	1,888	2,898	3,496
Operating Margin	36.16%	39.61%	43.47%	46.92%	43.87%	34.38%	41.87%	44.12%
Earnings before Tax (EBT) ¹	150.4	339.5	1,482	2,910	2,366	840.7	1,861	2,102
Net income ¹	570.6	349.4	1,286	2,238	1,907	726.2	1,546	1,964
Net margin	10.82%	6.42%	18.85%	26.52%	24.98%	13.22%	22.34%	24.79%
EPS ²	1.115	0.6450	2.270	4.020	3.480	1.326	2.856	3.622
Free Cash Flow ¹	1,476	1,824	2,473	3,135	2,608	1,885	2,109	2,423
FCF margin	27.99%	33.54%	36.25%	37.15%	34.16%	34.32%	30.48%	30.59%
FCF Conversion (EBITDA)	69.34%	76.8%	76.17%	73.1%	71.97%	88.95%	68.16%	64.58%
FCF Conversion (Net income)	258.71%	522.01%	192.35%	140.09%	136.75%	259.62%	136.42%	123.37%
Dividend per Share ²	0.7332	0.7585	0.9100	1.263	1.682	1.884	2.110	2.138
Announcement Date	5/7/20	5/6/21	5/9/22	5/4/23	5/6/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1
Net sales ¹	1,758	1,844	1,964	2,073	2,169	2,233	2,289	2,254	1,766	1,326	1,242	1,316	1,416	1,513	1,594
EBITDA ¹	870.1	902.6	986.7	1,056	1,106	1,140	1,172	1,152	796.2	503	434	478.5	536.8	586.8	618.2
EBIT ¹	784.5	824.9	894.9	971.4	1,030	1,064	1,100	1,085	728.1	436	390.9	436.4	499.6	557.3	629.7
Operating Margin	44.64%	44.73%	45.57%	46.86%	47.47%	47.64%	48.08%	48.12%	41.24%	32.89%	31.48%	33.15%	35.27%	36.85%	39.49%
Earnings before Tax (EBT) ¹	441.5	479.2	646.6	699.1	762.2	801.8	848.3	833.6	484.3	199.7	143.4	178.8	229.7	310.9	322.7
Net income ¹	352.8	437.9	507.2	546.2	580.3	604	666.4	666.6	419.2	154.7	115.3	148.6	202.5	249	300.6
Net margin	20.07%	23.74%	25.83%	26.35%	26.75%	27.05%	29.12%	29.57%	23.74%	11.67%	9.28%	11.28%	14.3%	16.46%	18.85%
EPS ²	0.6200	0.7700	0.9000	0.9800	1.040	1.090	1.210	1.210	0.7700	0.2800	0.2120	0.2791	0.3790	0.4673	0.5860
Dividend per Share ²	0.2320	0.2760	0.2760	0.3010	0.3280	0.3580	0.3830	0.4100	0.4390	0.4500	0.4544	0.4655	0.4769	0.4887	0.4878
Announcement Date	2/3/22	5/9/22	8/2/22	11/3/22	2/2/23	5/4/23	8/3/23	11/2/23	2/1/24	5/6/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	9,079	8,622	7,368	6,206	5,680	4,218	4,704	3,525
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.265 x	3.63 x	2.27 x	1.447 x	1.568 x	1.99 x	1.52 x	0.9393 x
Free Cash Flow ¹	1,476	1,824	2,473	3,135	2,608	1,885	2,109	2,423
ROE (net income / shareholders' equity)	26.5%	32.7%	46.5%	54%	41%	21.7%	39.5%	49%
ROA (Net income/ Total Assets)	8.05%	10.5%	16%	20.6%	16.7%	9.02%	14.7%	19.6%
Assets ¹	7,090	3,318	8,045	10,868	11,396	8,047	10,519	10,022
Book Value Per Share ²	10.90	9.760	10.40	11.80	12.30	12.00	12.00	13.10
Cash Flow per Share ²	3.010	3.540	5.020	6.500	5.280	3.380	3.890	5.130
Capex ¹	67.6	92.6	370	486	285	202	259	279
Capex / Sales	1.28%	1.7%	5.43%	5.76%	3.73%	3.67%	3.74%	3.53%
Announcement Date	5/7/20	5/6/21	5/9/22	5/4/23	5/6/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Microchip Technology, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

92.85 USD

Average target price

100.7 USD

Spread / Average Target

+8.45%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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