Amkor Technology vs Marvell Technology
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The short version
- Marvell Technology is the larger business, with $8.2B of revenue in fiscal 2026 against $6.7B for Amkor Technology.
- Marvell Technology grew revenue faster (42.1%, against 6.2%).
- Marvell Technology kept more of each dollar of sales as operating profit (16.1% operating margin, against 7.0%).
- Marvell Technology turned more of its sales into free cash flow (17.0% FCF margin, against 2.9%).
- Amkor Technology earned a higher return on the capital invested in it (10.4%, against 7.0%).
- Investors pay more for each dollar of Marvell Technology’s earnings: a P/E of 75.4x against 22.5x for Amkor Technology.
| Latest fiscal year | AMKR · FY25 | MRVL · FY26 |
|---|---|---|
| Size | ||
| Market cap | $9.8B | $210.5B |
| Revenue | $6.7B | $8.2B |
| Free cash flow | $191M | $1.4B |
| Net income | $374M | $2.7B |
| Growth | ||
| Revenue growth | 6.2% | 42.1% |
| 5-year growth | 5.8% | 22.5% |
| Share count change | 0.3% | 0.5% |
| Profitability | ||
| Gross margin | 14.0% | 51.0% |
| Operating margin | 7.0% | 16.1% |
| Net margin | 5.6% | 32.6% |
| FCF margin | 2.9% | 17.0% |
| Return on capital | 10.4% | 7.0% |
| Return on equity | 8.7% | 19.3% |
| Balance sheet | ||
| Net debt | −$560M | $2.3B |
| Net debt / EBITDA | −0.5x | 0.9x |
| Dividends and buybacks | $81.9M | $2.2B |
| Valuation & quality | ||
| P/E | 22.5x | 75.4x |
| Piotroski F-score | 6 | 6 |
Revenue
FY17
AMKR $4.2B
MRVL $2.3B
FY18
AMKR $4.3B
MRVL $2.4B
FY19
AMKR $4.1B
MRVL $2.9B
FY20
AMKR $5.1B
MRVL $2.7B
FY21
AMKR $6.1B
MRVL $3.0B
FY22
AMKR $7.1B
MRVL $4.5B
FY23
AMKR $6.5B
MRVL $5.9B
FY24
AMKR $6.3B
MRVL $5.5B
FY25
AMKR $6.7B
MRVL $5.8B
FY26
AMKR —
MRVL $8.2B
AMKR
MRVL
Operating margin
FY17
AMKR 9.6%
MRVL 5.7%
FY18
AMKR 6.0%
MRVL 17.8%
FY19
AMKR 5.8%
MRVL 1.5%
FY20
AMKR 9.1%
MRVL −9.0%
FY21
AMKR 12.4%
MRVL −8.7%
FY22
AMKR 12.7%
MRVL −7.8%
FY23
AMKR 7.2%
MRVL 4.0%
FY24
AMKR 6.9%
MRVL −10.3%
FY25
AMKR 7.0%
MRVL −12.5%
FY26
AMKR —
MRVL 16.1%
AMKR
MRVL
Free cash flow
FY17
AMKR $67.3M
MRVL −$403M
FY18
AMKR $116M
MRVL $533M
FY19
AMKR $91.4M
MRVL $521M
FY20
AMKR $217M
MRVL $278M
FY21
AMKR $342M
MRVL $711M
FY22
AMKR $190M
MRVL $650M
FY23
AMKR $521M
MRVL $1.1B
FY24
AMKR $345M
MRVL $1.0B
FY25
AMKR $191M
MRVL $1.4B
FY26
AMKR —
MRVL $1.4B
AMKR
MRVL
Return on capital
FY17
AMKR 15.3%
MRVL —
FY18
AMKR 7.6%
MRVL —
FY19
AMKR 7.4%
MRVL 0.6%
FY20
AMKR 16.2%
MRVL −2.7%
FY21
AMKR 25.0%
MRVL −2.2%
FY22
AMKR 24.3%
MRVL −1.9%
FY23
AMKR 10.6%
MRVL 0.6%
FY24
AMKR 10.0%
MRVL −2.4%
FY25
AMKR 10.4%
MRVL −3.3%
FY26
AMKR —
MRVL 7.0%
AMKR
MRVL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.