Marvell Technology vs STMicroelectronics
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The short version
- STMicroelectronics is the larger business, with $11.8B of revenue in fiscal 2025 against $8.2B for Marvell Technology.
- Marvell Technology grew revenue faster (42.1%, against −11.1%).
- Marvell Technology kept more of each dollar of sales as operating profit (16.1% operating margin, against 1.5%).
- Marvell Technology earned a higher return on the capital invested in it (7.0%, against 0.5%).
| Latest fiscal year | MRVL · FY26 | STM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $210.5B | $40.6B |
| Revenue | $8.2B | $11.8B |
| Free cash flow | $1.4B | — |
| Net income | $2.7B | $166M |
| Growth | ||
| Revenue growth | 42.1% | −11.1% |
| 5-year growth | 22.5% | 2.9% |
| Share count change | 0.5% | −1.7% |
| Profitability | ||
| Gross margin | 51.0% | 33.9% |
| Operating margin | 16.1% | 1.5% |
| Net margin | 32.6% | 1.4% |
| FCF margin | 17.0% | — |
| Return on capital | 7.0% | 0.5% |
| Return on equity | 19.3% | 0.9% |
| Balance sheet | ||
| Net debt | $2.3B | −$1.6B |
| Net debt / EBITDA | 0.9x | −0.8x |
| Dividends and buybacks | $2.2B | $688M |
| Valuation & quality | ||
| P/E | 75.4x | — |
| Piotroski F-score | 6 | 6 |
Revenue
FY17
MRVL $2.3B
STM $8.3B
FY18
MRVL $2.4B
STM $9.7B
FY19
MRVL $2.9B
STM $9.6B
FY20
MRVL $2.7B
STM $10.2B
FY21
MRVL $3.0B
STM $12.8B
FY22
MRVL $4.5B
STM $16.1B
FY23
MRVL $5.9B
STM $17.3B
FY24
MRVL $5.5B
STM $13.3B
FY25
MRVL $5.8B
STM $11.8B
FY26
MRVL $8.2B
STM —
MRVL
STM
Operating margin
FY17
MRVL 5.7%
STM 12.0%
FY18
MRVL 17.8%
STM 14.5%
FY19
MRVL 1.5%
STM 12.6%
FY20
MRVL −9.0%
STM 13.0%
FY21
MRVL −8.7%
STM 19.0%
FY22
MRVL −7.8%
STM 27.5%
FY23
MRVL 4.0%
STM 26.7%
FY24
MRVL −10.3%
STM 12.6%
FY25
MRVL −12.5%
STM 1.5%
FY26
MRVL 16.1%
STM —
MRVL
STM
Free cash flow
FY17
MRVL −$403M
STM —
FY18
MRVL $533M
STM —
FY19
MRVL $521M
STM —
FY20
MRVL $278M
STM —
FY21
MRVL $711M
STM —
FY22
MRVL $650M
STM —
FY23
MRVL $1.1B
STM —
FY24
MRVL $1.0B
STM —
FY25
MRVL $1.4B
STM —
FY26
MRVL $1.4B
STM —
MRVL
STM
Return on capital
FY17
MRVL —
STM 18.9%
FY18
MRVL —
STM 24.3%
FY19
MRVL 0.6%
STM 16.9%
FY20
MRVL −2.7%
STM 15.8%
FY21
MRVL −2.2%
STM 25.1%
FY22
MRVL −1.9%
STM 38.9%
FY23
MRVL 0.6%
STM 30.8%
FY24
MRVL −2.4%
STM 9.0%
FY25
MRVL −3.3%
STM 0.5%
FY26
MRVL 7.0%
STM —
MRVL
STM
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.