vs
Side-by-side financial comparison of Microchip Technology (MCHP) and PLEXUS CORP (PLXS). Click either name above to swap in a different company.
Microchip Technology is the larger business by last-quarter revenue ($1.2B vs $1.2B, roughly 1.0× PLEXUS CORP). Microchip Technology runs the higher net margin — 5.3% vs 4.3%, a 1.0% gap on every dollar of revenue. On growth, PLEXUS CORP posted the faster year-over-year revenue change (18.7% vs 15.6%). Over the past eight quarters, PLEXUS CORP's revenue compounded faster (7.2% CAGR vs -5.4%).
Microchip Technology Incorporated is an American publicly traded semiconductor corporation that manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits.
Plex Systems, Inc. is an American software company based in Troy, Michigan. The company develops and markets the Plex Manufacturing Cloud, a software as a service (SaaS) or cloud computing ERP for manufacturing.
MCHP vs PLXS — Head-to-Head
Income Statement — Q3 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.2B |
| Net Profit | $62.7M | $49.8M |
| Gross Margin | 59.6% | 10.2% |
| Operating Margin | 12.8% | 5.3% |
| Net Margin | 5.3% | 4.3% |
| Revenue YoY | 15.6% | 18.7% |
| Net Profit YoY | 217.0% | 27.5% |
| EPS (diluted) | $0.06 | $1.82 |
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 | — | $1.1B | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $970.5M | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — |
| Q1 26 | — | $41.2M | ||
| Q4 25 | $62.7M | — | ||
| Q3 25 | $41.7M | — | ||
| Q2 25 | $-18.6M | — | ||
| Q1 25 | $-154.6M | — | ||
| Q4 24 | $-53.6M | — | ||
| Q3 24 | $78.4M | — | ||
| Q2 24 | $129.3M | — |
| Q1 26 | — | 9.9% | ||
| Q4 25 | 59.6% | — | ||
| Q3 25 | 55.9% | — | ||
| Q2 25 | 53.6% | — | ||
| Q1 25 | 51.6% | — | ||
| Q4 24 | 54.7% | — | ||
| Q3 24 | 57.4% | — | ||
| Q2 24 | 59.4% | — |
| Q1 26 | — | 5.1% | ||
| Q4 25 | 12.8% | — | ||
| Q3 25 | 7.8% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | -10.3% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 12.6% | — | ||
| Q2 24 | 17.7% | — |
| Q1 26 | — | 3.8% | ||
| Q4 25 | 5.3% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | -1.7% | — | ||
| Q1 25 | -15.9% | — | ||
| Q4 24 | -5.2% | — | ||
| Q3 24 | 6.7% | — | ||
| Q2 24 | 10.4% | — |
| Q1 26 | — | $1.51 | ||
| Q4 25 | $0.06 | — | ||
| Q3 25 | $0.03 | — | ||
| Q2 25 | $-0.09 | — | ||
| Q1 25 | $-0.29 | — | ||
| Q4 24 | $-0.10 | — | ||
| Q3 24 | $0.14 | — | ||
| Q2 24 | $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 | $250.7M | $303.1M |
| Total DebtLower is stronger | $5.4B | — |
| Stockholders' EquityBook value | $6.6B | $1.5B |
| Total Assets | $14.3B | $3.4B |
| Debt / EquityLower = less leverage | 0.82× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $248.8M | ||
| Q4 25 | $250.7M | — | ||
| Q3 25 | $236.8M | — | ||
| Q2 25 | $566.5M | — | ||
| Q1 25 | $771.7M | — | ||
| Q4 24 | $586.0M | — | ||
| Q3 24 | $286.1M | — | ||
| Q2 24 | $315.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | $5.4B | — | ||
| Q3 25 | $5.4B | — | ||
| Q2 25 | $5.5B | — | ||
| Q1 25 | $5.6B | — | ||
| Q4 24 | $6.7B | — | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.2B | — |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $6.6B | — | ||
| Q3 25 | $6.7B | — | ||
| Q2 25 | $6.9B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $6.0B | — | ||
| Q3 24 | $6.3B | — | ||
| Q2 24 | $6.4B | — |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $14.3B | — | ||
| Q3 25 | $14.5B | — | ||
| Q2 25 | $15.0B | — | ||
| Q1 25 | $15.4B | — | ||
| Q4 24 | $15.6B | — | ||
| Q3 24 | $15.6B | — | ||
| Q2 24 | $15.8B | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.82× | — | ||
| Q3 25 | 0.80× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 1.12× | — | ||
| Q3 24 | 1.02× | — | ||
| Q2 24 | 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 | $341.4M | — |
| Free Cash FlowOCF − Capex | $318.9M | — |
| FCF MarginFCF / Revenue | 26.9% | — |
| Capex IntensityCapex / Revenue | 1.9% | — |
| Cash ConversionOCF / Net Profit | 5.44× | — |
| TTM Free Cash FlowTrailing 4 quarters | $819.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $341.4M | — | ||
| Q3 25 | $88.1M | — | ||
| Q2 25 | $275.6M | — | ||
| Q1 25 | $205.9M | — | ||
| Q4 24 | $271.5M | — | ||
| Q3 24 | $43.6M | — | ||
| Q2 24 | $377.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | $318.9M | — | ||
| Q3 25 | $51.6M | — | ||
| Q2 25 | $257.7M | — | ||
| Q1 25 | $191.7M | — | ||
| Q4 24 | $253.4M | — | ||
| Q3 24 | $22.8M | — | ||
| Q2 24 | $304.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | 26.9% | — | ||
| Q3 25 | 4.5% | — | ||
| Q2 25 | 24.0% | — | ||
| Q1 25 | 19.8% | — | ||
| Q4 24 | 24.7% | — | ||
| Q3 24 | 2.0% | — | ||
| Q2 24 | 24.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 3.2% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 5.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.44× | — | ||
| Q3 25 | 2.11× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.56× | — | ||
| Q2 24 | 2.92× | — |
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% |
PLXS
| Asia-Pacific | $652.0M | 56% |
| Americas | $397.0M | 34% |
| Europe, Middle East and Africa | $116.0M | 10% |
