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Side-by-side financial comparison of Microchip Technology (MCHP) and ON Semiconductor (ON). Click either name above to swap in a different company.
ON Semiconductor is the larger business by last-quarter revenue ($1.6B vs $1.2B, roughly 1.3× Microchip Technology). ON Semiconductor runs the higher net margin — 16.4% vs 5.3%, a 11.2% gap on every dollar of revenue. On growth, Microchip Technology posted the faster year-over-year revenue change (15.6% vs -10.0%). ON Semiconductor produced more free cash flow last quarter ($372.4M vs $318.9M). Over the past eight quarters, Microchip Technology's revenue compounded faster (-5.4% CAGR vs -12.3%).
Microchip Technology Incorporated is an American publicly traded semiconductor corporation that manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits.
Fairchild Semiconductor International, Inc. was an American semiconductor company based in San Jose, California. It was founded in 1957 as a division of Fairchild Camera and Instrument by the "traitorous eight" who defected from Shockley Semiconductor Laboratory. It became a pioneer in the manufacturing of transistors and of integrated circuits. Schlumberger bought the firm in 1979 and sold it to National Semiconductor in 1987; Fairchild was spun off as an independent company again in 1997. I...
MCHP vs ON — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.6B |
| Net Profit | $62.7M | $255.0M |
| Gross Margin | 59.6% | 37.9% |
| Operating Margin | 12.8% | 17.0% |
| Net Margin | 5.3% | 16.4% |
| Revenue YoY | 15.6% | -10.0% |
| Net Profit YoY | 217.0% | -32.9% |
| EPS (diluted) | $0.06 | $0.63 |
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.
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $1.1B | $1.4B | ||
| Q1 25 | $970.5M | — | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | $1.2B | $1.7B | ||
| Q1 24 | $1.3B | $1.9B |
| Q4 25 | $62.7M | $255.0M | ||
| Q3 25 | $41.7M | $170.3M | ||
| Q2 25 | $-18.6M | $-486.1M | ||
| Q1 25 | $-154.6M | — | ||
| Q4 24 | $-53.6M | $379.9M | ||
| Q3 24 | $78.4M | $401.7M | ||
| Q2 24 | $129.3M | $338.2M | ||
| Q1 24 | $154.7M | $453.0M |
| Q4 25 | 59.6% | 37.9% | ||
| Q3 25 | 55.9% | 37.6% | ||
| Q2 25 | 53.6% | 20.3% | ||
| Q1 25 | 51.6% | — | ||
| Q4 24 | 54.7% | 45.2% | ||
| Q3 24 | 57.4% | 45.4% | ||
| Q2 24 | 59.4% | 45.2% | ||
| Q1 24 | 59.6% | 45.8% |
| Q4 25 | 12.8% | 17.0% | ||
| Q3 25 | 7.8% | 13.2% | ||
| Q2 25 | 3.0% | -39.7% | ||
| Q1 25 | -10.3% | — | ||
| Q4 24 | 3.0% | 23.7% | ||
| Q3 24 | 12.6% | 25.3% | ||
| Q2 24 | 17.7% | 22.4% | ||
| Q1 24 | 19.1% | 28.2% |
| Q4 25 | 5.3% | 16.4% | ||
| Q3 25 | 3.7% | 11.6% | ||
| Q2 25 | -1.7% | -33.6% | ||
| Q1 25 | -15.9% | — | ||
| Q4 24 | -5.2% | 22.1% | ||
| Q3 24 | 6.7% | 22.8% | ||
| Q2 24 | 10.4% | 19.5% | ||
| Q1 24 | 11.7% | 24.3% |
| Q4 25 | $0.06 | $0.63 | ||
| Q3 25 | $0.03 | $0.41 | ||
| Q2 25 | $-0.09 | $-1.15 | ||
| Q1 25 | $-0.29 | — | ||
| Q4 24 | $-0.10 | $0.88 | ||
| Q3 24 | $0.14 | $0.93 | ||
| Q2 24 | $0.24 | $0.78 | ||
| Q1 24 | $0.29 | $1.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $250.7M | $2.9B |
| Total DebtLower is stronger | $5.4B | $3.4B |
| Stockholders' EquityBook value | $6.6B | $7.9B |
| Total Assets | $14.3B | $13.0B |
| Debt / EquityLower = less leverage | 0.82× | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $250.7M | $2.9B | ||
| Q3 25 | $236.8M | $2.8B | ||
| Q2 25 | $566.5M | $3.0B | ||
| Q1 25 | $771.7M | — | ||
| Q4 24 | $586.0M | $3.0B | ||
| Q3 24 | $286.1M | $2.8B | ||
| Q2 24 | $315.1M | $2.7B | ||
| Q1 24 | $319.7M | $2.6B |
| Q4 25 | $5.4B | $3.4B | ||
| Q3 25 | $5.4B | $3.4B | ||
| Q2 25 | $5.5B | $3.4B | ||
| Q1 25 | $5.6B | — | ||
| Q4 24 | $6.7B | $3.4B | ||
| Q3 24 | $6.4B | $3.4B | ||
| Q2 24 | $6.2B | $3.4B | ||
| Q1 24 | $6.0B | $3.4B |
| Q4 25 | $6.6B | $7.9B | ||
| Q3 25 | $6.7B | $7.9B | ||
| Q2 25 | $6.9B | $8.0B | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $6.0B | $8.8B | ||
| Q3 24 | $6.3B | $8.6B | ||
| Q2 24 | $6.4B | $8.3B | ||
| Q1 24 | $6.7B | $8.1B |
| Q4 25 | $14.3B | $13.0B | ||
| Q3 25 | $14.5B | $13.1B | ||
| Q2 25 | $15.0B | $13.3B | ||
| Q1 25 | $15.4B | — | ||
| Q4 24 | $15.6B | $14.1B | ||
| Q3 24 | $15.6B | $13.9B | ||
| Q2 24 | $15.8B | $13.7B | ||
| Q1 24 | $15.9B | $13.5B |
| Q4 25 | 0.82× | 0.43× | ||
| Q3 25 | 0.80× | 0.43× | ||
| Q2 25 | 0.80× | 0.42× | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 1.12× | 0.38× | ||
| Q3 24 | 1.02× | 0.39× | ||
| Q2 24 | 0.96× | 0.41× | ||
| Q1 24 | 0.90× | 0.42× |
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 | $341.4M | $418.7M |
| Free Cash FlowOCF − Capex | $318.9M | $372.4M |
| FCF MarginFCF / Revenue | 26.9% | 24.0% |
| Capex IntensityCapex / Revenue | 1.9% | 3.0% |
| Cash ConversionOCF / Net Profit | 5.44× | 1.64× |
| TTM Free Cash FlowTrailing 4 quarters | $819.9M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $341.4M | $418.7M | ||
| Q3 25 | $88.1M | $184.3M | ||
| Q2 25 | $275.6M | $602.3M | ||
| Q1 25 | $205.9M | — | ||
| Q4 24 | $271.5M | $579.7M | ||
| Q3 24 | $43.6M | $465.8M | ||
| Q2 24 | $377.1M | $362.2M | ||
| Q1 24 | $430.0M | $498.7M |
| Q4 25 | $318.9M | $372.4M | ||
| Q3 25 | $51.6M | $106.1M | ||
| Q2 25 | $257.7M | $454.7M | ||
| Q1 25 | $191.7M | — | ||
| Q4 24 | $253.4M | $434.8M | ||
| Q3 24 | $22.8M | $293.6M | ||
| Q2 24 | $304.2M | $207.7M | ||
| Q1 24 | $389.9M | $276.3M |
| Q4 25 | 26.9% | 24.0% | ||
| Q3 25 | 4.5% | 7.2% | ||
| Q2 25 | 24.0% | 31.5% | ||
| Q1 25 | 19.8% | — | ||
| Q4 24 | 24.7% | 25.2% | ||
| Q3 24 | 2.0% | 16.7% | ||
| Q2 24 | 24.5% | 12.0% | ||
| Q1 24 | 29.4% | 14.8% |
| Q4 25 | 1.9% | 3.0% | ||
| Q3 25 | 3.2% | 5.3% | ||
| Q2 25 | 1.7% | 10.2% | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.8% | 8.4% | ||
| Q3 24 | 1.8% | 9.8% | ||
| Q2 24 | 5.9% | 8.9% | ||
| Q1 24 | 3.0% | 11.9% |
| Q4 25 | 5.44× | 1.64× | ||
| Q3 25 | 2.11× | 1.08× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.53× | ||
| Q3 24 | 0.56× | 1.16× | ||
| Q2 24 | 2.92× | 1.07× | ||
| Q1 24 | 2.78× | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MCHP
| Mixed Signal Microcontrollers | $586.5M | 49% |
| Analog | $322.9M | 27% |
| Other Product Line | $276.6M | 23% |
ON
| Industrial Segment | $426.3M | 27% |
| Other End Markets Segment | $337.3M | 22% |
| Intelligent Sensing Segments | $284.0M | 18% |
| Direct Customers | $282.4M | 18% |
| Intelligent Sensing Group | $230.0M | 15% |
