Allegro MicroSystems vs MACOM Technology Solutions
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The short version
- MACOM Technology Solutions is the larger business, with $967M of revenue in fiscal 2025 against $890M for Allegro MicroSystems.
- MACOM Technology Solutions grew revenue faster (32.6%, against 22.8%).
- MACOM Technology Solutions kept more of each dollar of sales as operating profit (13.4% operating margin, against 2.1%).
- MACOM Technology Solutions turned more of its sales into free cash flow (19.9% FCF margin, against 14.0%).
- MACOM Technology Solutions earned a higher return on the capital invested in it (9.8%, against 1.3%).
| Latest fiscal year | ALGM · FY26 | MTSI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.9B | $18.5B |
| Revenue | $890M | $967M |
| Free cash flow | $125M | $193M |
| Net income | −$14.9M | −$54.2M |
| Growth | ||
| Revenue growth | 22.8% | 32.6% |
| 5-year growth | 8.5% | 12.8% |
| Share count change | −1.4% | 0.6% |
| Profitability | ||
| Gross margin | 46.3% | 54.7% |
| Operating margin | 2.1% | 13.4% |
| Net margin | −1.7% | −5.6% |
| FCF margin | 14.0% | 19.9% |
| Return on capital | 1.3% | 9.8% |
| Return on equity | −1.6% | −4.4% |
| Balance sheet | ||
| Net debt | $119M | −$254M |
| Net debt / EBITDA | 1.4x | −1.3x |
| Dividends and buybacks | $0.0M | $43.1M |
| Valuation & quality | ||
| P/E | — | 75.2x |
| Piotroski F-score | 7 | 5 |
Revenue
FY17
ALGM —
MTSI $699M
FY18
ALGM —
MTSI $570M
FY19
ALGM —
MTSI $500M
FY20
ALGM $650M
MTSI $530M
FY21
ALGM $591M
MTSI $607M
FY22
ALGM $769M
MTSI $675M
FY23
ALGM $974M
MTSI $648M
FY24
ALGM $1.0B
MTSI $730M
FY25
ALGM $725M
MTSI $967M
FY26
ALGM $890M
MTSI —
ALGM
MTSI
Operating margin
FY17
ALGM —
MTSI −2.3%
FY18
ALGM —
MTSI −18.7%
FY19
ALGM —
MTSI −76.1%
FY20
ALGM 8.1%
MTSI 0.6%
FY21
ALGM 2.1%
MTSI 13.4%
FY22
ALGM 17.8%
MTSI 19.7%
FY23
ALGM 20.9%
MTSI 16.6%
FY24
ALGM 18.7%
MTSI 10.1%
FY25
ALGM −2.7%
MTSI 13.4%
FY26
ALGM 2.1%
MTSI —
ALGM
MTSI
Free cash flow
FY17
ALGM —
MTSI $28.3M
FY18
ALGM —
MTSI −$16.8M
FY19
ALGM —
MTSI −$17.3M
FY20
ALGM $35.8M
MTSI $154M
FY21
ALGM $79.9M
MTSI $130M
FY22
ALGM $86.2M
MTSI $150M
FY23
ALGM $113M
MTSI $142M
FY24
ALGM $56.9M
MTSI $140M
FY25
ALGM $22.0M
MTSI $193M
FY26
ALGM $125M
MTSI —
ALGM
MTSI
Return on capital
FY17
ALGM —
MTSI −1.3%
FY18
ALGM —
MTSI −7.1%
FY19
ALGM —
MTSI −30.5%
FY20
ALGM —
MTSI 0.4%
FY21
ALGM 2.2%
MTSI 11.0%
FY22
ALGM 26.0%
MTSI 17.7%
FY23
ALGM 32.3%
MTSI 9.7%
FY24
ALGM 17.0%
MTSI 6.4%
FY25
ALGM −1.3%
MTSI 9.8%
FY26
ALGM 1.3%
MTSI —
ALGM
MTSI
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.