MACOM Technology Solutions Holdings, Inc. MTSI

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

We design, develop and manufacture differentiated semiconductor products and solutions for the Industrial and Defense ("I&D"), Data Center and Telecommunications ("Telecom") industries for customers who demand high performance, quality and reliability. We are headquartered in Lowell, Massachusetts, with operational facilities throughout North America, Europe and Asia. We have more than 70 years of application expertise, combined with expertise in analog and mixed signal circuit design, compound semiconductor fabrication (including gallium arsenide (GaAs), gallium nitride (GaN), indium phosphide (InP) and specialized silicon), advanced packaging and back-end assembly and test. We offer a broad portfolio of thousands of standard and custom devices, which include integrated circuits ("ICs"), multi-chip modules (MCM), diodes, amplifiers, switches and switch limiters, passive and active components and radio frequency (RF) and optical subsystems, which make up dozens of product lines that service over 6,000 end customers in our three primary markets. Our products are electronic components that our customers generally incorporate into larger electronic systems, such as wireless basestations, high-capacity optical networks, data center networks, radar, medical systems, satellite networks and test and measurement applications. Our primary end markets are: (1) I&D, which includes military and commercial radar, RF jammers, electronic countermeasures, communication data links, space-related electronics and various wired and wireless multi-market applications, which include industrial, medical, test and measurement and scientific applications; (2) Data Center, which includes intra-Data Center, Data Center Interconnect (DCI) applications, at 100G, 200G, 400G, 800G, 1.6T and higher speeds, enabled by our broad portfolio of analog ICs and photonic components for high speed connectivity customers; and (3) Telecom, which includes carrier infrastructure such as long-haul/metro, 5G and 6G infrastructure, satellite communications ("SATCOM") and Fiber-to-the-X (FTTx)/passive optical network (PON), among others.

Last close 236.24 2026-10-23
Market cap $18.04B 2026-07-03 share count
52-week range 142.00 - 418.90

Valuation FY2025 figures against the last close

P/S18.7x
P/E—
P/FCF93.6x
EV/EBITDA92.0x
Dividend yield—
Diluted EPS-0.73

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • China
  • Other Countries
  • Asia Pacific, excluding China
Revenue by geography, 4 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 422.9M (43.7%) 44% United States China, FY2025: 274.6M (28.4%) 28% China Other Countries, FY2025: 158.3M (16.4%) 16% Other Countries Asia Pacific, excluding China, FY2025: 111.5M (11.5%) 12% FY2024 United States, FY2024: 327.7M (44.9%) 45% China, FY2024: 177.7M (24.4%) 24% Other Countries, FY2024: 134.9M (18.5%) 18% Asia Pacific, excluding China, FY2024: 89.3M (12.2%) 12% FY2023 United States, FY2023: 313.4M (48.3%) 48% China, FY2023: 129.9M (20.0%) 20% Other Countries, FY2023: 114.5M (17.7%) 18% Asia Pacific, excluding China, FY2023: 90.7M (14.0%) 14%
Region FY2025FY2024FY2023
United States $422.9M $327.7M $313.4M
China $274.6M $177.7M $129.9M
Other Countries $158.3M $134.9M $114.5M
Asia Pacific, excluding China $111.5M $89.3M $90.7M

As the company reported it, from the “Revenue - Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $967.3M$729.6M$648.4M$675.2M$606.9M$530.0M$499.7M$570.4M$698.8M$544.3M
Cost of revenue $438.3M$335.8M$262.6M$269.0M$265.1M$259.9M$279.0M$324.7M$371.9M$262.7M
Gross profit $529.0M$393.8M$385.8M$406.2M$341.9M$270.2M$220.7M$245.7M$326.9M$281.6M
R&D $244.5M$182.2M$148.5M$148.2M$138.8M$141.3M$163.5M$177.7M$148.0M$107.7M
SG&A $154.9M$137.9M$129.9M$125.3M$122.0M$124.3M$153.3M$161.7M$187.9M$145.4M
Total operating expenses $399.4M$320.1M$278.4M$273.5M$260.9M$266.8M$601.1M$352.2M$343.0M$268.4M
Operating income $129.7M$73.7M$107.4M$132.7M$81.0M$3.4M-$380.4M-$106.5M-$16.1M$13.2M
Interest expense $5.5M$5.1M$12.4M$8.6M$22.1M$27.4M$35.8M$31.3M$28.9M$18.4M
Pre-tax income -$29.0M$91.5M$115.2M$243.1M$42.9M-$41.6M-$423.2M-$155.2M-$49.5M-$21.6M
Income tax $25.2M$14.7M$23.6M$196.8M$5.0M$4.5M$39.4M$21.5M$100.9M$18.0M
Net income -$54.2M$76.9M$91.6M$440.0M$38.0M-$46.1M-$383.8M-$140.0M-$169.5M$1.4M
EPS, basic -0.731.071.296.300.55-0.69-5.84-2.16-2.790.03
EPS, diluted -0.731.041.286.180.54-0.69-5.84-2.57-2.790.03
Shares, diluted (wtd. avg.) 74.0M73.6M71.5M71.2M70.5M66.6M65.7M65.3M60.7M53.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $112.1M$146.8M$174.0M$120.0M$156.5M$129.4M$75.5M$94.7M$130.1M$333.0M
Short-term investments $673.8M$435.1M$340.6M$466.6M$188.4M$203.7M$101.2M$98.2M$84.1M$23.8M
Receivables $148.6M$105.7M$91.3M$101.6M$84.6M$45.9M$69.8M$97.4M$136.1M$108.3M
Inventory $237.8M$194.5M$136.3M$115.0M$82.7M$91.6M$107.9M$122.8M$136.1M$114.9M
Total current assets $1.21B$903.1M$761.2M$813.1M$521.5M$481.5M$398.6M$458.9M$562.9M$612.9M
Property, plant and equipment $230.3M$176.0M$149.5M$123.7M$120.5M$118.9M$132.6M$149.9M$131.0M$99.2M
Goodwill $336.3M$332.2M$323.4M$311.4M$314.2M$315.0M$314.7M$314.1M$313.8M$120.0M
Other intangibles $78.6M$76.1M$67.0M$51.3M$84.7M$130.9M$181.2M$512.8M$621.1M$259.6M
Total assets $2.10B$1.76B$1.55B$1.57B$1.13B$1.15B$1.11B$1.48B$1.64B$1.19B
Accounts payable $67.6M$43.2M$25.0M$30.7M$28.7M$23.0M$24.8M$42.0M$47.0M$30.6M
Short-term debt $160.9M$0———$6.9M$6.9M$6.9M$6.9M$6.1M
Total current liabilities $325.1M$108.2M$83.5M$97.2M$93.0M$95.0M$74.8M$107.0M$117.1M$92.2M
Long-term debt $339.6M$448.3M$447.1M$565.9M$492.1M$652.2M$655.3M$658.4M$661.5M$573.9M
Total liabilities $776.3M$629.3M$605.6M$729.1M$662.4M$846.3M$791.7M$813.8M$859.7M$725.8M
Retained earnings -$240.1M-$185.8M-$262.7M-$354.3M-$801.8M-$839.7M-$791.8M-$408.0M-$267.0M-$97.5M
Total equity $1.33B$1.13B$947.6M$842.7M$471.7M$300.1M$313.9M$668.7M$777.4M$462.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $235.4M$162.6M$166.9M$177.0M$148.4M$171.4M$20.7M$36.3M$61.0M$79.2M
Depreciation and amortisation $63.3M$67.2M$52.2M$57.2M$70.0M$78.8M$104.4M$112.4M$93.0M$70.6M
Stock-based compensation $79.4M$45.6M$38.1M$41.2M$35.0M$35.7M$23.8M$31.9M$36.3M$27.0M
Capital expenditure $42.6M$22.4M$24.7M$26.5M$18.0M$17.6M$38.0M$53.0M$32.8M$31.3M
Investing cash flow -$328.3M-$181.1M$36.3M-$182.9M-$2.6M-$107.2M-$33.9M-$67.1M-$337.6M-$94.9M
Financing cash flow $58.1M-$9.1M-$149.0M-$28.9M-$119.1M-$10.7M-$5.8M-$4.5M$73.7M$227.4M
Buybacks $43.1M$14.2M$32.6M$36.0M$23.4M$6.7M$4.1M$6.8M$18.5M$10.0M

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 0001493594-25-000054.

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. -500M 0 500M 1B Revenue, FY2016: 544.3M Gross profit, FY2016: 281.6M Net income, FY2016: 1.4M Revenue, FY2017: 698.8M Gross profit, FY2017: 326.9M Net income, FY2017: -169.5M Revenue, FY2018: 570.4M Gross profit, FY2018: 245.7M Net income, FY2018: -140M Revenue, FY2019: 499.7M Gross profit, FY2019: 220.7M Net income, FY2019: -383.8M Revenue, FY2020: 530M Gross profit, FY2020: 270.2M Net income, FY2020: -46.1M Revenue, FY2021: 606.9M Gross profit, FY2021: 341.9M Net income, FY2021: 38M Revenue, FY2022: 675.2M Gross profit, FY2022: 406.2M Net income, FY2022: 440M Revenue, FY2023: 648.4M Gross profit, FY2023: 385.8M Net income, FY2023: 91.6M Revenue, FY2024: 729.6M Gross profit, FY2024: 393.8M Net income, FY2024: 76.9M Revenue, FY2025: 967.3M Gross profit, FY2025: 529M Net income, FY2025: -54.2M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $544.3M $698.8M $570.4M $499.7M $530.0M $606.9M $675.2M $648.4M $729.6M $967.3M
Gross profit $281.6M $326.9M $245.7M $220.7M $270.2M $341.9M $406.2M $385.8M $393.8M $529.0M
Net income $1.4M -$169.5M -$140.0M -$383.8M -$46.1M $38.0M $440.0M $91.6M $76.9M -$54.2M

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
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • 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
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02

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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