Marvell Technology, Inc. MRVL

Technology SIC 3674 - Semiconductors & Related Devices NAICS Manufacturing › Computer and Electronic Product Manufacturing › Semiconductor and Other Electronic Component Manufacturing › Semiconductor and Related Device Manufacturing derived Nasdaq

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.

Last close 228.51 2026-10-23
Market cap $200.38B 2026-08-01 share count
52-week range 70.69 - 329.88

Valuation FY2025 figures against the last close

P/S24.5x
P/E74.4x
P/FCF143.5x
EV/EBITDA130.9x
Dividend yield0.1%
Diluted EPS3.07

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $8.19B$5.77B$5.51B$5.92B$4.46B$2.97B$2.70B—
Cost of revenue $4.01B$3.39B$3.21B$2.93B$2.40B$1.48B$1.34B—
Gross profit $4.18B$2.38B$2.29B$2.99B$2.06B$1.49B$1.36B—
R&D $2.08B$1.95B$1.90B$1.78B$1.42B$1.07B$1.08B—
SG&A $767.1M$798.2M$834.0M$843.6M$955.3M———
Total operating expenses $2.86B$3.10B$2.86B$2.75B$2.41B$1.75B$1.60B—
Operating income $1.32B-$720.3M-$567.7M$238.0M-$347.7M-$258.4M-$243.4M—
Interest expense $202.6M$189.4M$211.7M$170.6M$139.3M$69.3M$85.6M—
Pre-tax income $3.05B-$894.7M-$758.7M$85.1M-$483.5M-$322.2M$798.4M—
Income tax $376.5M$9.7M$174.7M$248.6M$62.5M$44.9M$786.0M—
Net income $2.67B-$885.0M-$933.4M-$163.5M-$421.0M-$277.3M$1.58B—
EPS, basic 3.10-1.02-1.08-0.19-0.53-0.412.38—
EPS, diluted 3.07-1.02-1.08-0.19-0.53-0.412.34—
Shares, diluted (wtd. avg.) 869.7M865.5M861.3M851.4M796.9M668.8M676.1M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $2.64B$948.3M$950.8M$911.0M$613.5M$748.5M$647.6M$582.4M
Receivables $2.19B$1.03B$1.12B$1.19B$1.05B$536.7M——
Inventory $1.39B$1.03B$864.4M$1.07B$720.3M$268.2M——
Total current assets $6.46B$3.12B$3.06B$3.28B$2.49B$1.62B——
Property, plant and equipment $935.0M$790.5M$756.0M$577.4M$462.8M$326.1M——
Goodwill $11.06B$11.59B$11.59B$11.59B$11.51B$5.34B——
Other intangibles $1.75B$2.71B$4.00B$5.10B$6.15B$2.27B——
Total assets $22.29B$20.20B$21.23B$22.52B$22.11B$10.76B——
Accounts payable $1.07B$622.2M$411.3M$465.8M$461.5M$252.4M——
Short-term debt $499.8M$129.5M$107.3M$584.4M$63.2M$199.6M——
Total current liabilities $3.22B$2.03B$1.81B$2.39B$1.39B$1.08B——
Long-term debt $3.97B$3.93B$4.06B$3.91B$4.48B$993.2M——
Total liabilities $7.98B$6.78B$6.40B$6.88B$6.41B$2.33B——
Retained earnings $1.36B-$1.11B-$16.7M$1.12B$1.49B$2.10B——
Total equity $14.31B$13.43B$14.83B$15.64B$15.70B$8.44B$8.68B$7.31B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $1.75B$1.68B$1.37B$1.29B$819.3M$817.3M$360.3M—
Depreciation and amortisation $221.7M$177.0M$148.2M$126.8M$113.5M$95.9M$83.4M—
Stock-based compensation $590.8M$597.4M$609.8M$552.4M$460.7M$241.5M$242.2M—
Capital expenditure $354.1M$284.6M$336.3M$206.2M$169.2M$106.8M$81.9M—
Investing cash flow $2.10B-$300.7M-$350.5M-$328.4M-$3.75B-$119.6M$558.8M—
Financing cash flow -$2.16B-$1.38B-$980.2M-$662.9M$2.79B-$596.8M-$853.9M—
Dividends paid $205.1M$207.5M$206.8M$204.4M$191.0M$160.6M$159.6M—
Buybacks $2.04B$725.0M$150.0M$115.0M$0$25.2M$364.3M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-060253.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2.5B 0 2.5B 5B 7.5B 10B Revenue, FY2019: 2.7B Gross profit, FY2019: 1.4B Net income, FY2019: 1.6B Revenue, FY2020: 3B Gross profit, FY2020: 1.5B Net income, FY2020: -277.3M Revenue, FY2021: 4.5B Gross profit, FY2021: 2.1B Net income, FY2021: -421M Revenue, FY2022: 5.9B Gross profit, FY2022: 3B Net income, FY2022: -163.5M Revenue, FY2023: 5.5B Gross profit, FY2023: 2.3B Net income, FY2023: -933.4M Revenue, FY2024: 5.8B Gross profit, FY2024: 2.4B Net income, FY2024: -885M Revenue, FY2025: 8.2B Gross profit, FY2025: 4.2B Net income, FY2025: 2.7B FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $2.70B $2.97B $4.46B $5.92B $5.51B $5.77B $8.19B
Gross profit — $1.36B $1.49B $2.06B $2.99B $2.29B $2.38B $4.18B
Net income — $1.58B -$277.3M -$421.0M -$163.5M -$933.4M -$885.0M $2.67B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Material agreement signed Item 1.01
  • Other event Item 8.01
  • Unregistered share sale Item 3.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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