Marvell Technology
MRVL Nasdaq· Semiconductors
Last close · Oct 26, 2026
$233.78
KIRA · Stoqly’s AI analyst, in plain words
- Marvell Technology had $8.2B of revenue in fiscal 2026, up 42.1% on the year before. Over five years, revenue changed +22.5% a year on average.
- Its operating margin was 16.1%, up 28.6 pts: of every 100 in sales, about 16 is left after running the business.
- Marvell Technology made $2.7B of net profit in fiscal 2026. From fiscal 2017 to 2026, diluted EPS grew 62.0% a year.
- Free cash flow was $1.4B in fiscal 2026, 17.0% of revenue.
- Marvell Technology returned $2.2B to shareholders in fiscal 2026, 161% of free cash flow. The diluted share count rose 0.5%.
- Marvell Technology owes $2.3B more than it holds in cash, about 0.9 years of operating profit.
Market cap
$215.4B
P/E
77.2x
Revenue
$8.2B
Net income
$2.7B
Free cash flow
$1.4B
Operating margin
16.1%
Marvell Technology in 30 seconds · fiscal 2026
Are sales growing?
+42.1%
Yes. Sales grew 42.1% last year.
Does it make a profit?
32.6%
Yes. It keeps 32.6% of every sale as profit.
Does profit turn into cash?
17.0%
Yes. 17.0% of sales ends up as free cash.
Is debt under control?
0.9x
Yes. It could repay its debt with 0.9 years of operating profit.
How healthy are the accounts?
6 / 9
Mixed. It passes 6 of 9 health tests.
How is the share priced?
77.2x
One share costs 77.2 times its yearly profit per share. Typical for its sector: 33.0x.
What Marvell Technology does
Marvell designs semiconductors that move, process and store data in data centers and networks. It is fabless, which means it designs chips and pays other companies to manufacture them. Its products include custom chips built to a single customer's specification, optical and electrical connection chips, Ethernet switches, processors, security processors and storage controllers. Marvell sells to equipment makers, design manufacturers and distributors, and it reports one segment. It groups sales into two end markets: data center, which includes chips for AI systems, cloud servers and storage, and communications and other, which covers networking, carrier and consumer equipment. Data center is the larger of the two and has grown as a share of sales. Marvell says one distributor and one direct customer each account for at least a tenth of its net revenue. It competes with companies that make their own chips and, in many cases, run their own factories.
Biggest risks, in its own words
- Weak or uncertain conditions in the data center and communications markets that can slow its growth.
- Large customers that may start designing their own chips instead of buying Marvell's.
- Strong competition from companies with longer histories, more resources and their own factories.
- Trade policy changes and export limits, especially involving China and Chinese customers.
- Fiscal year ends
- January 31, 2026
- Latest annual report
- 10-K · Mar 11, 2026
- Legal name
- MARVELL TECHNOLOGY, INC
- CIK
- 0001835632
Marvell Technology · MRVL
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $4.5B | $5.9B | $5.5B | $5.8B | $8.2B |
| Revenue growth | 50.3% | 32.7% | −7.0% | 4.7% | 42.1% |
| Gross margin | 46.3% | 50.5% | 41.6% | 41.3% | 51.0% |
| Operating margin | −7.8% | 4.0% | −10.3% | −12.5% | 16.1% |
| Net income | −$421M | −$164M | −$933M | −$885M | $2.7B |
| Net margin | −9.4% | −2.8% | −17.0% | −15.4% | 32.6% |
| Diluted EPS | −$0.53 | −$0.19 | −$1.08 | −$1.02 | $3.07 |
| Cash | |||||
| Cash from operations | $819M | $1.3B | $1.4B | $1.7B | $1.8B |
| Capital expenditure | $169M | $206M | $336M | $285M | $354M |
| Free cash flow | $650M | $1.1B | $1.0B | $1.4B | $1.4B |
| FCF margin | 14.6% | 18.3% | 18.8% | 24.2% | 17.0% |
| Dividends paid | $191M | $204M | $207M | $208M | $205M |
| Share buybacks | $0.0M | $115M | $150M | $725M | $2.0B |
| Share count change | 19.2% | 6.8% | 1.2% | 0.5% | 0.5% |
| Debt and strength | |||||
| Cash and short-term investments | $614M | $911M | $951M | $948M | $2.6B |
| Debt incl. finance leases | $4.6B | $5.1B | $4.3B | $4.2B | $5.0B |
| Shareholders' equity | $15.7B | $15.6B | $14.8B | $13.4B | $14.3B |
| Net debt / EBITDA | — | 7.7x | 4.9x | 6.4x | 0.9x |
| Current ratio | 1.8x | 1.4x | 1.7x | 1.5x | 2.0x |
| Interest coverage | −2.5x | 1.4x | −2.7x | −3.8x | 6.5x |
| Returns and quality | |||||
| Return on capital | −1.9% | 0.6% | −2.4% | −3.3% | 7.0% |
| Return on equity | −3.5% | −1.0% | −6.1% | −6.3% | 19.3% |
| Piotroski F-score | 4 | 5 | 4 | 3 | 6 |
| Altman Z'' | 3.0 | 2.9 | 2.6 | 2.0 | 3.4 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$55.1M
7 insiders
Of sales under plans
90%
$49.6M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Marvell Technology · MRVL
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Marvell Technology MRVL | $215.4B | 42.1% | 16.1% | 17.0% | 7.0% | 77.2x | 6 |
| GlobalFoundries GFS | $25.1B | 0.6% | 11.7% | 14.9% | 7.1% | — | 8 |
| Amkor Technology AMKR | $9.2B | 6.2% | 7.0% | 2.9% | 10.4% | 21.0x | 6 |
| Analog Devices ADI | $199.4B | 16.9% | 26.6% | 38.8% | 6.2% | 48.4x | 8 |
| ON Semiconductor ON | $29.9B | −15.4% | 1.4% | 23.7% | 0.9% | 47.8x | 5 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $233.78 a share, the company is worth $215.4B: 77.2 times its earnings of the last four quarters.
Marvell Technology grew sales faster than 4 of its 4 similar companies. Its P/E is higher than 3 of 3.
Source: SEC EDGAR XBRL filings (CIK 0001835632). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.