Microchip Technology Incorporated (MCHP)
Microchip makes microcontrollers, analog chips, and embedded-control products used in automotive, industrial, and consumer devices.
MCHP vs TXN: how the two businesses compare
- Bigger business: TXN, with $17.7B of yearly revenue, about 3.8× MCHP's $4.7B.
- More profitable: TXN keeps 28 cents of each sales dollar as profit, against 5 cents at MCHP.
- More cash from each sale: TXN turns 40 cents of each sales dollar into operating cash flow, against 20 cents at MCHP.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Texas Instruments (TXN) is the larger business by reported revenue: $17.7B in its fiscal year ended Dec 2025, about 3.8× MCHP's $4.7B (fiscal year ended Mar 2026). MCHP's net margin was 4.9% and TXN's 28.3%. Both file with the SEC under the same industry code, SIC 3674 (Semiconductors & Related Devices).
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Information Technology
- Semiconductors & Related Devices
- Same classification
- Different
- MCHP March 31 · TXN December 31
- May 21, 2026
MCHP vs TXN: quick comparison
| Company fact | MCHP | TXN |
|---|---|---|
| Company | Microchip Technology Incorporated | Texas Instruments Incorporated |
| Exchange | NASDAQ | NASDAQ |
| Headquarters | — | Dallas, Texas |
| Founded | — | 1930 |
| SEC industry | Semiconductors & Related Devices | Semiconductors & Related Devices |
| Fiscal year-end | March 31 | December 31 |
| Latest annual filing | 10-K · 2026-05-21 | 10-K · 2026-02-06 |
MCHP vs TXN: audited financials
- Scale: TXN's $17.7B of revenue is about 3.8× MCHP's $4.7B.
- Net margin: TXN kept 28.3% of revenue as net income versus 4.9% at MCHP.
- Cash conversion: operating cash flow equalled MCHP 20.4% of revenue, or 4.18× net income; TXN 40.5% of revenue, or 1.43× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: the fiscal years end about 3 months apart (2026-03-31 for MCHP, 2025-12-31 for TXN), so each figure reflects somewhat different demand and cost conditions.
| Metric | MCHP | TXN |
|---|---|---|
| Revenue | $4.7B2025-04-01 to 2026-03-31 · SEC filing | $17.7B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $230M2025-04-01 to 2026-03-31 · SEC filing | $5.0B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $962M2025-04-01 to 2026-03-31 · SEC filing | $7.2B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $0.222025-04-01 to 2026-03-31 · SEC filing | $5.452025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 4.9%2025-04-01 to 2026-03-31 · SEC filing | 28.3%2025-01-01 to 2025-12-31 · SEC filing |
MCHP: FY ending 2026-03-31 · TXN: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where MCHP and TXN overlap, and where they don't
Overlap
- Same SEC industry: both report under SIC 3674, Semiconductors & Related Devices.
- Shared research theme: Tariffs & trade.
Differences
- Offset fiscal calendars: MCHP's year ends March 31 and TXN's December 31, about 3 months apart.
- Scale: TXN reported about 3.8× the annual revenue of MCHP.
- Profitability: net margin of 4.9% for MCHP versus 28.3% for TXN.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Texas Instruments Incorporated (TXN)
Texas Instruments is a leading maker of analog and embedded processing chips used across industrial, automotive, and consumer electronics. It is expanding US manufacturing capacity to secure long-term supply.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves MCHP
We have not yet published a company-specific driver list for MCHP. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-05-21.
What moves TXN
We have not yet published a company-specific driver list for TXN. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-06.
The investment question
You now know TXN reports about 3.8× MCHP's revenue, and TXN keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to tariffs & trade, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. MCHP's fiscal year ends March 31, while TXN's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 6 matched transaction rows for MCHP and 34 matched transaction rows for TXN. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
MCHP primary filings
TXN primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
MCHP vs TXN FAQs
Are MCHP and TXN direct competitors?
Microchip Technology and Texas Instruments share the SEC industry classification “Semiconductors & Related Devices.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Is MCHP or TXN the bigger company by revenue?
Texas Instruments (TXN) is the larger business by reported revenue: $17.7B in its fiscal year ended Dec 2025, about 3.8× MCHP's $4.7B (fiscal year ended Mar 2026). MCHP's net margin was 4.9% and TXN's 28.3%. Both file with the SEC under the same industry code, SIC 3674 (Semiconductors & Related Devices). Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, MCHP or TXN?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this MCHP vs TXN comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Microchip Technology Incorporated and Texas Instruments Incorporated tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
MCHP vs TXN compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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