Amkor Technology vs Marvell Technology
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KIRA’s take AI analyst
I put Amkor Technology and Marvell Technology side by side, using each one’s latest annual report. Here is what stands out:
- 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 77.2x against 21.0x for Amkor Technology.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Amkor Technology
AMKR
3/11
Return on capitalNet debt / EBITDAShare count change
Marvell Technology
MRVL
7/11
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on equity
Side by side
Best in the row
| Latest fiscal year | AMKR FY25 | MRVL FY26 |
|---|---|---|
| Size | ||
| Market cap | $9.2B | $215.4B |
| 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 | 21.0x | 77.2x |
| Piotroski F-score | 6 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.