Microchip Technology
MCHP · Semiconductors
$74.05
0.6%Skyworks Solutions
SWKS · Semiconductors
$83.43
1.3%The short version
- Microchip Technology is the larger business, with $4.7B of revenue in fiscal 2026 against $4.1B for Skyworks Solutions.
- Microchip Technology grew revenue faster (7.1%, against −2.2%).
- Skyworks Solutions kept more of each dollar of sales as operating profit (12.2% operating margin, against 10.4% operating margin).
- Skyworks Solutions turned more of its sales into free cash flow (27.1% FCF margin, against 18.5% FCF margin).
- Skyworks Solutions earned a higher return on the capital invested in it (8.5%, against 3.5%).
- Investors pay more for each dollar of Microchip Technology’s earnings: a P/E of 108.9x against 43.2x for Skyworks Solutions.
| Latest fiscal year | MCHP · FY26 | SWKS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $40.8B | $12.6B |
| Revenue | $4.7B | $4.1B |
| Free cash flow | $871M | $1.1B |
| Net income | $230M | $477M |
| Growth | ||
| Revenue growth | 7.1% | −2.2% |
| 5-year growth | −2.8% | 4.0% |
| Share count change | 1.5% | −4.0% |
| Profitability | ||
| Gross margin | 57.7% | 41.2% |
| Operating margin | 10.4% | 12.2% |
| Net margin | 4.9% | 11.7% |
| FCF margin | 18.5% | 27.1% |
| Return on capital | 3.5% | 8.5% |
| Return on equity | 3.4% | 7.9% |
| Balance sheet | ||
| Net debt | $5.3B | −$878M |
| Net debt / EBITDA | 4.5x | −0.9x |
| Dividends and buybacks | $984M | $1.3B |
| Valuation & quality | ||
| P/E | 108.9x | 43.2x |
| Piotroski F-score | 6 | 5 |
FY17
MCHP $3.4B
SWKS $3.7B
FY18
MCHP $4.0B
SWKS $3.9B
FY19
MCHP $5.3B
SWKS $3.4B
FY20
MCHP $5.3B
SWKS $3.4B
FY21
MCHP $5.4B
SWKS $5.1B
FY22
MCHP $6.8B
SWKS $5.5B
FY23
MCHP $8.4B
SWKS $4.8B
FY24
MCHP $7.6B
SWKS $4.2B
FY25
MCHP $4.4B
SWKS $4.1B
FY26
MCHP $4.7B
SWKS —
MCHP
SWKS
FY17
MCHP 8.1%
SWKS 34.3%
FY18
MCHP 23.5%
SWKS 34.1%
FY19
MCHP 13.4%
SWKS 28.2%
FY20
MCHP 12.3%
SWKS 26.6%
FY21
MCHP 18.4%
SWKS 31.6%
FY22
MCHP 27.1%
SWKS 27.8%
FY23
MCHP 36.9%
SWKS 23.6%
FY24
MCHP 33.7%
SWKS 15.3%
FY25
MCHP 6.7%
SWKS 12.2%
FY26
MCHP 10.4%
SWKS —
MCHP
SWKS
FY17
MCHP $1.0B
SWKS $1.2B
FY18
MCHP $1.2B
SWKS $838M
FY19
MCHP $1.4B
SWKS $969M
FY20
MCHP $1.5B
SWKS $815M
FY21
MCHP $1.8B
SWKS $1.1B
FY22
MCHP $2.5B
SWKS $935M
FY23
MCHP $3.1B
SWKS $1.6B
FY24
MCHP $2.6B
SWKS $1.7B
FY25
MCHP $772M
SWKS $1.1B
FY26
MCHP $871M
SWKS —
MCHP
SWKS
FY17
MCHP 7.8%
SWKS —
FY18
MCHP 10.3%
SWKS —
FY19
MCHP 7.4%
SWKS —
FY20
MCHP 4.3%
SWKS —
FY21
MCHP 7.0%
SWKS 31.2%
FY22
MCHP 11.8%
SWKS 20.2%
FY23
MCHP 18.5%
SWKS 15.9%
FY24
MCHP 16.5%
SWKS 9.9%
FY25
MCHP 1.2%
SWKS 8.5%
FY26
MCHP 3.5%
SWKS —
MCHP
SWKS
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