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Side-by-side financial comparison of AMERICAN AXLE & MANUFACTURING HOLDINGS INC (AXL) and Microchip Technology (MCHP). Click either name above to swap in a different company.
AMERICAN AXLE & MANUFACTURING HOLDINGS INC is the larger business by last-quarter revenue ($1.4B vs $1.3B, roughly 1.1× Microchip Technology). Microchip Technology runs the higher net margin — 11.0% vs -5.4%, a 16.4% gap on every dollar of revenue. On growth, AMERICAN AXLE & MANUFACTURING HOLDINGS INC posted the faster year-over-year revenue change (0.2% vs -72.2%). Microchip Technology produced more free cash flow last quarter ($242.8M vs $54.7M). Over the past eight quarters, Microchip Technology's revenue compounded faster (2.8% CAGR vs -7.2%).
American Axle & Manufacturing, Inc. (AAM), headquartered in Detroit, Michigan, is an American manufacturer of automobile driveline and drivetrain components and systems.
Microchip Technology Incorporated is an American publicly traded semiconductor corporation that manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits.
AXL vs MCHP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.3B |
| Net Profit | $-75.3M | $144.2M |
| Gross Margin | 10.2% | 61.0% |
| Operating Margin | -2.4% | 16.6% |
| Net Margin | -5.4% | 11.0% |
| Revenue YoY | 0.2% | -72.2% |
| Net Profit YoY | -449.6% | 8.9% |
| EPS (diluted) | $-0.62 | $0.21 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $1.3B | ||
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.4B | $970.5M | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.6B | $1.2B |
| Q1 26 | — | $144.2M | ||
| Q4 25 | $-75.3M | $62.7M | ||
| Q3 25 | $9.2M | $41.7M | ||
| Q2 25 | $39.3M | $-18.6M | ||
| Q1 25 | $7.1M | $-154.6M | ||
| Q4 24 | $-13.7M | $-53.6M | ||
| Q3 24 | $10.0M | $78.4M | ||
| Q2 24 | $18.2M | $129.3M |
| Q1 26 | — | 61.0% | ||
| Q4 25 | 10.2% | 59.6% | ||
| Q3 25 | 12.6% | 55.9% | ||
| Q2 25 | 13.1% | 53.6% | ||
| Q1 25 | 12.3% | 51.6% | ||
| Q4 24 | 11.2% | 54.7% | ||
| Q3 24 | 11.4% | 57.4% | ||
| Q2 24 | 13.3% | 59.4% |
| Q1 26 | — | 16.6% | ||
| Q4 25 | -2.4% | 12.8% | ||
| Q3 25 | 3.2% | 7.8% | ||
| Q2 25 | 3.6% | 3.0% | ||
| Q1 25 | 3.0% | -10.3% | ||
| Q4 24 | 2.6% | 3.0% | ||
| Q3 24 | 2.8% | 12.6% | ||
| Q2 24 | 5.3% | 17.7% |
| Q1 26 | — | 11.0% | ||
| Q4 25 | -5.4% | 5.3% | ||
| Q3 25 | 0.6% | 3.7% | ||
| Q2 25 | 2.6% | -1.7% | ||
| Q1 25 | 0.5% | -15.9% | ||
| Q4 24 | -1.0% | -5.2% | ||
| Q3 24 | 0.7% | 6.7% | ||
| Q2 24 | 1.1% | 10.4% |
| Q1 26 | — | $0.21 | ||
| Q4 25 | $-0.62 | $0.06 | ||
| Q3 25 | $0.07 | $0.03 | ||
| Q2 25 | $0.32 | $-0.09 | ||
| Q1 25 | $0.06 | $-0.29 | ||
| Q4 24 | $-0.11 | $-0.10 | ||
| Q3 24 | $0.08 | $0.14 | ||
| Q2 24 | $0.15 | $0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $708.9M | $240.3M |
| Total DebtLower is stronger | $4.0B | $5.5B |
| Stockholders' EquityBook value | $640.0M | $6.4B |
| Total Assets | $6.7B | $14.4B |
| Debt / EquityLower = less leverage | 6.31× | 0.85× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $240.3M | ||
| Q4 25 | $708.9M | $250.7M | ||
| Q3 25 | $714.1M | $236.8M | ||
| Q2 25 | $586.5M | $566.5M | ||
| Q1 25 | $549.2M | $771.7M | ||
| Q4 24 | $552.9M | $586.0M | ||
| Q3 24 | $542.5M | $286.1M | ||
| Q2 24 | $519.9M | $315.1M |
| Q1 26 | — | $5.5B | ||
| Q4 25 | $4.0B | $5.4B | ||
| Q3 25 | $2.6B | $5.4B | ||
| Q2 25 | $2.6B | $5.5B | ||
| Q1 25 | $2.6B | $5.6B | ||
| Q4 24 | $2.6B | $6.7B | ||
| Q3 24 | $2.6B | $6.4B | ||
| Q2 24 | $2.7B | $6.2B |
| Q1 26 | — | $6.4B | ||
| Q4 25 | $640.0M | $6.6B | ||
| Q3 25 | $718.4M | $6.7B | ||
| Q2 25 | $673.0M | $6.9B | ||
| Q1 25 | $596.3M | $7.1B | ||
| Q4 24 | $562.8M | $6.0B | ||
| Q3 24 | $616.3M | $6.3B | ||
| Q2 24 | $609.6M | $6.4B |
| Q1 26 | — | $14.4B | ||
| Q4 25 | $6.7B | $14.3B | ||
| Q3 25 | $5.3B | $14.5B | ||
| Q2 25 | $5.3B | $15.0B | ||
| Q1 25 | $5.1B | $15.4B | ||
| Q4 24 | $5.1B | $15.6B | ||
| Q3 24 | $5.3B | $15.6B | ||
| Q2 24 | $5.3B | $15.8B |
| Q1 26 | — | 0.85× | ||
| Q4 25 | 6.31× | 0.82× | ||
| Q3 25 | 3.61× | 0.80× | ||
| Q2 25 | 3.86× | 0.80× | ||
| Q1 25 | 4.38× | 0.80× | ||
| Q4 24 | 4.58× | 1.12× | ||
| Q3 24 | 4.28× | 1.02× | ||
| Q2 24 | 4.42× | 0.96× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $120.5M | — |
| Free Cash FlowOCF − Capex | $54.7M | $242.8M |
| FCF MarginFCF / Revenue | 4.0% | 18.5% |
| Capex IntensityCapex / Revenue | 4.8% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $155.1M | $871.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $120.5M | $341.4M | ||
| Q3 25 | $143.3M | $88.1M | ||
| Q2 25 | $91.9M | $275.6M | ||
| Q1 25 | $55.9M | $205.9M | ||
| Q4 24 | $151.2M | $271.5M | ||
| Q3 24 | $143.6M | $43.6M | ||
| Q2 24 | $142.8M | $377.1M |
| Q1 26 | — | $242.8M | ||
| Q4 25 | $54.7M | $318.9M | ||
| Q3 25 | $79.2M | $51.6M | ||
| Q2 25 | $34.6M | $257.7M | ||
| Q1 25 | $-13.4M | $191.7M | ||
| Q4 24 | $73.2M | $253.4M | ||
| Q3 24 | $70.4M | $22.8M | ||
| Q2 24 | $94.0M | $304.2M |
| Q1 26 | — | 18.5% | ||
| Q4 25 | 4.0% | 26.9% | ||
| Q3 25 | 5.3% | 4.5% | ||
| Q2 25 | 2.3% | 24.0% | ||
| Q1 25 | -0.9% | 19.8% | ||
| Q4 24 | 5.3% | 24.7% | ||
| Q3 24 | 4.7% | 2.0% | ||
| Q2 24 | 5.8% | 24.5% |
| Q1 26 | — | 1.1% | ||
| Q4 25 | 4.8% | 1.9% | ||
| Q3 25 | 4.3% | 3.2% | ||
| Q2 25 | 3.7% | 1.7% | ||
| Q1 25 | 4.9% | 1.5% | ||
| Q4 24 | 5.6% | 1.8% | ||
| Q3 24 | 4.9% | 1.8% | ||
| Q2 24 | 3.0% | 5.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.44× | ||
| Q3 25 | 15.58× | 2.11× | ||
| Q2 25 | 2.34× | — | ||
| Q1 25 | 7.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 14.36× | 0.56× | ||
| Q2 24 | 7.85× | 2.92× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXL
| Driveline | $748.4M | 54% |
| Other | $345.7M | 25% |
| Metal Forming | $289.8M | 21% |
MCHP
Segment breakdown not available.
