A Business at a Glance
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Our Company Marvell Technology, Inc., together with its consolidated subsidiaries (“Marvell,” “MTI,” the “Company,” “we,” or “us”) is a leading supplier of data infrastructure semiconductor solutions, spanning the data center core to network edge. We are a fabless supplier of high-performance semiconductor products with core strengths in developing and scaling complex System-on-a-Chip architectures, integrating analog, mixed-signal and digital signal processing functionality. Leveraging leading intellectual property and deep system-level expertise, as well as highly innovative security firmware, our solutions are empowering the data economy and enabling the data center and communications and other end markets. We currently are incorporated in Delaware, United States. Our corporate headquarters is 1000 N. West Street, Suite 1200 Wilmington, Delaware 19801, and our telephone number is (302) 295-4840.
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 11.3B | 8.2B | 5.8B | 5.5B | 5.9B | 4.5B |
| Net Income | 2.1B | 2.7B | -885M | -933M | -164M | -421M |
| EPS | $2.46 | $3.07 | $-1.02 | $-1.08 | $-0.19 | $-0.53 |
| Free Cash Flow | 1.9B | 1.4B | 1.4B | 1.0B | 1.1B | 650M |
| ROIC | 6.1% | - | -5.1% | -4.9% | 0.8% | -2.1% |
| Gross Margin | 47.6% | 51.0% | 41.3% | 41.6% | 50.5% | 46.3% |
| Debt/Equity | 0.31 | 0.31 | 0.30 | 0.28 | 0.32 | 0.29 |
| Dividends/Share | $0.35 | $0.24 | $0.24 | $0.24 | $0.24 | $0.24 |
| Operating Income | 1.0B | - | -720M | -568M | 238M | -348M |
| Operating Margin | 8.9% | - | -12.5% | -10.3% | 4.0% | -7.8% |
| ROE | 15.0% | 19.3% | -6.6% | -6.3% | -1.0% | -2.7% |
| Shares Outstanding | 874M | 870M | 868M | 864M | 861M | 794M |
| Metric | 2021 | 2022 | 2023 | 2024 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 3.0B | 4.5B | 5.9B | 5.5B | 5.8B | 8.2B | 11.3B |
| Gross Margin | 50.1% | 46.3% | 50.5% | 41.6% | 41.3% | 51.0% | 47.6% |
| R&D | 1.1B | 1.4B | 1.8B | 1.9B | 2.0B | 2.1B | 3.0B |
| SG&A | 467M | 955M | 844M | 834M | 798M | 767M | 1.2B |
| EBIT | -258M | -348M | 238M | -568M | -720M | N/A | 1.0B |
| Op. Margin | -8.7% | -7.8% | 4.0% | -10.3% | -12.5% | N/A | 8.9% |
| Net Income | -277M | -421M | -164M | -933M | -885M | 2.7B | 2.1B |
| Net Margin | -9.3% | -9.4% | -2.8% | -16.9% | -15.3% | 32.6% | 19.0% |
| Non-Recurring | 171M | 32M | 22M | 131M | 354M | 16M | 139M |
| Returns on Capital | |||||||
| ROIC | -2.9% | -2.1% | 0.8% | -4.9% | -5.1% | N/A | 6.1% |
| ROE | -3.3% | -2.7% | -1.0% | -6.3% | -6.6% | 19.3% | 15.0% |
| ROA | -2.6% | -1.9% | -0.7% | -4.4% | -4.4% | 12.6% | 9.6% |
| Cash Flow | |||||||
| Op. Cash Flow | 817M | 819M | 1.3B | 1.4B | 1.7B | 1.8B | 2.5B |
| Free Cash Flow | 710M | 650M | 1.1B | 1.0B | 1.4B | 1.4B | 1.9B |
| Owner Earnings | 378M | 93M | 431M | 461M | 780M | 811M | 1.1B |
| CapEx | 107M | 169M | 206M | 336M | 285M | 354M | 551M |
| Maint. CapEx | 198M | 266M | 305M | 300M | 304M | 349M | 499M |
| Growth CapEx | 0 | 0 | 0 | 36M | 0 | 5.5M | 51M |
| D&A | 198M | 266M | 305M | 300M | 304M | 349M | 499M |
| CapEx/OCF | 13.1% | 20.7% | 16.0% | 24.5% | 16.9% | N/A | 22.1% |
| Capital Allocation | |||||||
| Dividends Paid | 161M | 191M | 204M | 207M | 208M | 205M | 308M |
| Dividend Yield | 0.7% | 0.4% | 0.5% | 0.5% | 0.3% | N/A | 0.3% |
| Share Buybacks | 25M | 0 | 115M | 150M | 725M | 2.0B | 1.9B |
| Buyback Yield | 0.1% | N/A | 0.3% | 0.3% | 0.8% | 0.0% | 1.6% |
| Stock-Based Comp | 242M | 461M | 552M | 610M | 597M | 591M | 909M |
| Debt Repayment | 250M | 527M | 266M | 1.6B | 109M | 791M | 2.4B |
| Balance Sheet | |||||||
| Net Debt | -304M | 3.4B | 3.3B | 2.3B | 2.2B | -807M | -807M |
| Cash & Equiv. | 748M | 614M | 911M | 951M | 948M | 2.6B | 5.3B |
| Long-Term Debt | 993M | 4.5B | 3.9B | 4.1B | 3.9B | 4.0B | 4.0B |
| Debt/Equity | 0.14 | 0.29 | 0.32 | 0.28 | 0.30 | 0.31 | 0.31 |
| Interest Coverage | -3.7 | -2.5 | 1.4 | -2.7 | -3.8 | N/A | 3.2 |
| Equity | 8.4B | 15.7B | 15.6B | 14.8B | 13.4B | 14.3B | 14.3B |
| Total Assets | 10.8B | 22.1B | 22.5B | 21.2B | 20.2B | 22.3B | 22.3B |
| Total Liabilities | 2.3B | 6.4B | 6.9B | 6.4B | 6.8B | 8.0B | 8.0B |
| Intangibles | 2.3B | 6.2B | 5.1B | 4.0B | 2.7B | 1.8B | 1.8B |
| Retained Earnings | 2.1B | 1.5B | 1.1B | -17M | -1.1B | 1.4B | 1.4B |
| Working Capital | 540M | 1.1B | 894M | 1.2B | 1.1B | 3.2B | 3.2B |
| Current Assets | 1.6B | 2.5B | 3.3B | 3.1B | 3.1B | 6.5B | 6.5B |
| Current Liabilities | 1.1B | 1.4B | 2.4B | 1.8B | 2.0B | 3.2B | 3.2B |
| Per Share Data | |||||||
| EPS | -0.41 | -0.53 | -0.19 | -1.08 | -1.02 | 3.07 | 2.46 |
| Owner EPS | 0.56 | 0.12 | 0.50 | 0.53 | 0.90 | 0.93 | 1.24 |
| Book Value | 12.47 | 19.77 | 18.17 | 17.16 | 15.48 | 16.45 | 16.37 |
| Cash Flow/Share | 1.21 | 1.03 | 1.50 | 1.59 | 1.94 | 2.01 | 3.03 |
| Dividends/Share | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.35 |
| Shares Out. | 676.3M | 794.3M | 860.5M | 864.3M | 867.6M | 869.7M | 874.3M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | 53.4 |
| P/FCF | 48.7 | 79.7 | 34.8 | 56.5 | 64.3 | N/A | 59.2 |
| EV/EBIT | N/A | N/A | 173.3 | N/A | N/A | N/A | 113.1 |
| Price/Book | 4.1 | 3.3 | 2.4 | 3.9 | 6.7 | N/A | 8.0 |
| Price/Sales | 7.8 | 10.5 | 7.4 | 8.2 | 11.8 | N/A | 10.2 |
| FCF Yield | 2.1% | 1.3% | 2.9% | 1.8% | 1.6% | N/A | 1.7% |
| Market Cap | 34.6B | 51.8B | 37.7B | 58.4B | 89.8B | 0 | 114.8B |
| Avg. Price | 34.33 | 59.18 | 51.11 | 52.38 | 78.39 | 0.00 | 131.30 |
| Year-End Price | 51.14 | 65.26 | 43.77 | 67.61 | 103.53 | 0.00 | 131.30 |
Marvell Technology, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 79.2x vs a median of 56.5x. The company's 5-year average gross margin is 46.1%. Total shareholder yield (dividends + buybacks) is 1.9%. At current prices, the estimated annualized return to fair value is +3.6%.
Marvell Technology, Inc. (MRVL) has a 5-year average return on invested capital (ROIC) of -2.8%. This is below average and may indicate limited pricing power.
Marvell Technology, Inc. (MRVL) has a market capitalization of $114.8B. It is classified as a large-cap stock.
Yes, Marvell Technology, Inc. (MRVL) pays a dividend with a trailing twelve-month yield of 0.27%. The company also returns capital through share buybacks, with a buyback yield of 1.62%.
Marvell Technology, Inc. (MRVL) operates in the Semiconductors & Related Devices industry, within the Technology sector.
Marvell Technology, Inc. (MRVL) reported annual revenue of $8.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
Marvell Technology, Inc. (MRVL) has a net profit margin of 32.6%. This is a strong margin indicating high profitability.
Marvell Technology, Inc. (MRVL) generated $1.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Marvell Technology, Inc. (MRVL) has a debt-to-equity ratio of 0.31. This indicates a conservatively financed balance sheet.
Marvell Technology, Inc. (MRVL) reported earnings per share (EPS) of $3.07 in its most recent fiscal year.
Marvell Technology, Inc. (MRVL) has a return on equity (ROE) of 19.3%. This indicates the company generates strong returns for shareholders.
Marvell Technology, Inc. (MRVL) has a 5-year average gross margin of 46.1%. This indicates decent pricing power.
The Ledger Terminal provides 6 years of financial data for Marvell Technology, Inc. (MRVL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Marvell Technology, Inc. (MRVL) has a book value per share of $16.45, based on its most recent annual SEC filing.