Marvell Technology, Inc.
MRVL· Nasdaq· Semiconductors & Related Devices
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 17.0%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +22.5%
We record prices for the companies we cover; MRVL is not one of them yet.
Company statistics
Profile · FY2026
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 869.7M
- Revenue
- $8.2B
- Free cash flow
- $1.4B
- Owner earnings
- $805.6M
Valuation · FY2026
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2026
- Gross
- 51.0%
- Operating
- 16.1%
- Net
- 32.6%
- Free cash flow
- 17.0%
- Owner earnings
- 9.8%
- Stock pay
- 7.2%
Returns
- ROIC, FY2026
- 7.2%
- ROIC, 5 yr avg
- –
- ROE, FY2026
- 18.7%
- ROE, 5 yr avg
- 0.4%
Growth (CAGR)
- Revenue, 3 yr
- 11.4%
- Revenue, 5 yr
- 22.5%
- Revenue, 6 yr
- 20.3%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 6 yr
- 4.6%
- Free cash flow, 3 yr
- 8.9%
- Free cash flow, 5 yr
- 14.5%
- Free cash flow, 6 yr
- 30.8%
Financial health · FY2026
- Cash and investments
- $2.6B
- Total debt
- $4.5B
- Net debt
- $1.8B
- Debt/Equity
- 0.3x
- Debt/FCF
- 3.2x
Shareholder returns · FY2026
- Dividend yield
- –
- Payout ratio
- 7.7%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 5.4%
Financials: ten years from the 10-Ks
Revenue
$8.2B
+20.3% a year over 6 years
FY2020FY2026
Margins
Gross51.0%Operating16.1%Net32.6%
FY2026
FY2020FY2026
Free cash flow and owner earnings
Free cash flow$1.4BOwner earnings$805.6M
Free cash flow +30.8% a year
FY2020FY2026
Diluted shares
869.7M
+28.6% over 6 years, net dilution
FY2020FY2026
Return on invested capital
7.2%
FY2026
FY2020FY2026
Net debt (below zero)
-$1.8B
$1.8B more debt than cash
FY2020FY2026
Every figure, year by year
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|
| The business | |||||||
| Revenue | $2.7B | $3.0B | $4.5B | $5.9B | $5.5B | $5.8B | $8.2B |
| Revenue growth | – | 10.0% | 50.3% | 32.7% | -7.0% | 4.7% | 42.1% |
| Gross margin | 50.3% | 50.1% | 46.3% | 50.5% | 41.6% | 41.3% | 51.0% |
| Operating margin | -9.0% | -8.7% | -7.8% | 4.0% | -10.3% | -12.5% | 16.1% |
| Net income | $1.6B | -$277.3M | -$421.0M | -$163.5M | -$933.4M | -$885.0M | $2.7B |
| Net margin | 58.7% | -9.3% | -9.4% | -2.8% | -16.9% | -15.3% | 32.6% |
| Diluted EPS | $2.34 | $-0.41 | $-0.53 | $-0.19 | $-1.08 | $-1.02 | $3.07 |
| Return on invested capital? | – | – | – | – | – | – | 7.2% |
| Cash | |||||||
| Operating cash flow | $360.3M | $817.3M | $819.3M | $1.3B | $1.4B | $1.7B | $1.8B |
| Capital expenditure | $81.9M | $106.8M | $169.2M | $206.2M | $336.3M | $284.6M | $354.1M |
| Free cash flow | $278.4M | $710.5M | $650.1M | $1.1B | $1.0B | $1.4B | $1.4B |
| Stock-based compensation | $242.2M | $241.5M | $460.7M | $552.4M | $609.8M | $597.4M | $590.8M |
| Owner earnings? | $36.2M | $469.0M | $189.4M | $530.2M | $424.4M | $799.2M | $805.6M |
| Free cash flow per share | $0.41 | $1.06 | $0.82 | $1.27 | $1.20 | $1.61 | $1.61 |
| Capital allocation | |||||||
| Dividends paid | $159.6M | $160.6M | $191.0M | $204.4M | $206.8M | $207.5M | $205.1M |
| Share repurchases | $364.3M | $25.2M | $0 | $115.0M | $150.0M | $725.0M | $2.0B |
| Diluted shares | 676.1M | 668.8M | 796.9M | 851.4M | 861.3M | 865.5M | 869.7M |
| Share count change? | – | -1.1% | 19.2% | 6.8% | 1.2% | 0.5% | 0.5% |
| Balance sheet | |||||||
| Cash and equivalents | $647.6M | $748.5M | $613.5M | $911.0M | $950.8M | $948.3M | $2.6B |
| Short-term investments | – | – | – | – | – | – | – |
| Total debt | – | $1.4B | $4.6B | $5.1B | $4.2B | $4.1B | $4.5B |
| Net debt | – | $644.0M | $4.0B | $4.2B | $3.2B | $3.1B | $1.8B |
| Shareholders' equity | $8.7B | $8.4B | $15.7B | $15.6B | $14.8B | $13.4B | $14.3B |
Latest filings
| 2026-08-28 | 10-Q | Quarterly report |
| 2026-08-27 | 8-K | Earnings release |
| 2026-05-28 | 10-Q | Quarterly report |
| 2026-05-27 | 8-K | Earnings release |
| 2026-05-13 | DEF 14A | Proxy statement |
| 2026-03-11 | 10-K | Annual report |
| 2026-03-05 | 8-K | Earnings release |
| 2025-12-03 | 10-Q | Quarterly report |
| 2025-12-02 | 8-K | Earnings release |
| 2025-08-29 | 10-Q | Quarterly report |
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