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Not Investment Advice

MRVL

NASDAQ · USD
Marvell Technology, Inc.
Technology · Semiconductors
CEO Matthew J. Murphy Employees 7,480 R&D / revenue 25.3%
Last price
$227.83−5.56%last session
Market cap
$199.5B
P/E (TTM)
74.7x
From 52w high
−30.9%
From 52w low
+222.3%
1-year return
+158.2%
RSI 14 · vs SMA200
37.5 · +29.6%
IS score
67.0/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

MRVL   SPY   XLK (sector ETF) · weekly closes
100150200250300350Jan 26Apr 26Jul 26Oct 26MRVL 258XLK 129SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
59
Profitability
77
Growth
37
Value
87
Momentum
100
Risk (safety)
73
Quality
85
Balance sheet
61
Earnings quality

Flags

Strengths
✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Narrow, Efficient ScalePiotroski 7 / 9Altman Z 12.6Beta 2.252 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
18 open-market sales, $28.3M
Form 144 notices (12m): 25, $109.4M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
6
Last disclosed purchase 2026-08-07
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+687
809 new holders, 107 closed
2,231 filers hold 78.0% · 634 added, 652 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+343
1,835 funds adding shares
1,492 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
30.5%
20-day avg 45.2%, 50-day avg 44.9%
Latest 14.7 pp under its 20-day average · a flow, not short interest

Key financials · FY2026

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$8.2B
Revenue growth YoY+42.1%
Gross margin51.0%
Operating income$1.3B
Operating margin16.3%
Net income$2.7B
Net margin32.6%
EPS (diluted)$3.07
Cash flow
Operating cash flow$1.8B
Capital expenditure$354.1M
Free cash flow$1.4B
FCF conversion (FCF / OCF)79.8%
Stock-based compensation$590.8M
FCF less SBC$805.6M
Buybacks$2.0B
Dividends$205.1M
Balance sheet & returns
Cash & short-term investments$2.6B
Total debt$4.5B
Net debt$1.8B
Shareholders' equity$14.3B
Goodwill & intangibles$13.1B
Debt / equity0.29
ROE (TTM)16.2%
ROIC (TTM)5.4%
Operating margin by fiscal year
-7.8%FY20224.0%FY2023-10.3%FY2024-12.5%FY202516.3%FY2026
Revenue $4.5B (FY2022) to $8.2B (FY2026), a 16.4% CAGR.

Valuation

P/E (TTM)74.7x
EV / EBITDA42.2x
Price / sales21.11x
Price / FCF115.3x
FCF yield0.87%
Buyback yield1.02%
SBC / revenue8.8%
Price / book11.03x
Forward P/E FY202754.1x
Forward P/E FY202831.3x
Forward multiples divide today's price by Street EPS estimates. Street mean target $318.77 across 40 analysts last quarter is theirs, not ours.

MRVL vs industry median

196 companies in Semiconductors
Gross margin 51.4% 45.0% Operating margin 16.7% 5.8% Net margin 27.9% 5.7% ROIC 5.4% 6.2%
MRVL (TTM)Industry median Asset turnover 0.34 vs industry 0.52 · financial leverage 1.49

Earnings delivery

Next report 2026-12-01 · consensus EPS $1.10
83%
beat rate, 10 of 12 quarters
+1.2%
median EPS surprise
5
longest beat streak
+2-0+1+2+5+2+1-0+2+1+0+1
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-30 to 2026-08-27. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
MRVL Marvell Technology, Inc. $199.5B74.7x16.2%27.9%+42.1% +158.2%
ADI Analog Devices, Inc. $191.6B46.7x12.2%33.3%+33.6% +65.7%
KLAC KLA Corporation $216.3B45.0x87.5%37.3%+11.7% +51.7%
QCOM QUALCOMM Incorporated $183.8B19.6x33.8%20.1%+1.9% +7.1%
ARM Arm Holdings plc American De $243.3B234.8x13.4%20.9%+25.1% +33.1%
TXN Texas Instruments Incorporat $252.5B41.8x35.2%36.2%+16.7% —
AMAT Applied Materials, Inc. $324.8B35.1x41.1%27.8%+7.8% —
LRCX Lam Research Corporation $330.3B45.6x65.1%33.9%+26.0% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-09-25Other Events; Exhibits
2026-08-27Earnings Release; Exhibits
2026-08-19Material Agreement; Unregistered Equity Sales; Exhibits
2026-07-09Other Events; Exhibits
2026-06-25Shareholder Vote; Other Events; Exhibits
2026-06-11Officer/Director Change; Regulation FD; Exhibits

Context

Shares outstanding875,766,423
Free float99.6%
Institutional ownership78.0%
Beta2.25
Dividend yield0.11%
Last dividend$0.06 on 2026-10-09
50 / 200-day average$240.70 / $175.16
Large-cap Technology median P/E34.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where MRVL sits among 76 scored companies in Semiconductors (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureMRVLIndustry medianIndustry percentileSector median
P/E (TTM) 75.6x 45.9x
67th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 21.1x 8.1x
88th		 3.9x
Price / book 10.8x 5.5x
73rd		 4.4x
Price / tangible book 74.8x 10.3x
96th		 8.8x
Price / free cash flow 115.3x 57.4x
81st		 20.3x
Price / operating cash flow 90.7x 38.7x
84th		 17.9x
Enterprise value $200.9B $6.8B
87th		 $5.5B
EV / sales 21.3x 8.4x
89th		 4.1x
EV / EBITDA 42.2x 28.1x
64th		 18.9x
EV / EBIT 57.5x 38.4x
70th		 26.7x
EV / free cash flow 116.1x 57.4x
83rd		 21.9x
Earnings yield 1.3% 1.2%
55th		 2.0%
FCF yield 0.9% 1.4%
41st		 3.3%
Operating cash flow yield 1.1% 2.0%
35th		 4.4%
Graham number (per share) $36.02 $34.80
56th		 $28.08

Profitability (TTM)

MeasureMRVLIndustry medianIndustry percentileSector median
Gross margin 51.4% 48.5%
59th		 55.7%
EBITDA margin 50.3% 18.7%
93rd		 13.7%
Operating margin 16.7% 10.1%
65th		 8.2%
EBIT margin 37.0% 12.1%
91st		 8.6%
Net margin 27.9% 9.4%
83rd		 5.7%
NOPAT margin 14.4% 9.3%
65th		 7.0%
FCF margin 18.3% 12.0%
69th		 15.0%
Operating cash flow margin 23.3% 18.3%
59th		 18.4%
R&D / revenue 25.8% 17.5%
73rd		 12.9%
SG&A / revenue 8.8% 14.9%
23rd		 25.6%
Stock comp / revenue 8.8% 3.9%
71st		 4.4%
Effective tax rate 13.7% 17.4%
30th		 21.0%

Returns on capital

MeasureMRVLIndustry medianIndustry percentileSector median
ROE (on average equity) 16.5% 6.8%
68th		 9.4%
ROA 11.0% 4.2%
72nd		 4.1%
ROIC 6.9% 7.9%
48th		 9.0%
ROCE 14.0% 6.6%
69th		 8.6%
Return on tangible assets 14.5% 5.7%
73rd		 5.9%
Cash ROIC (OCF / invested capital) 11.1% 14.1%
38th		 20.7%
Gross profitability (GP / assets) 17.6% 21.5%
37th		 30.0%
ROIC, 3-yr average 0.2% 6.8%
25th		 7.4%
ROIC, 5-yr average -0.8% 16.5%
16th		 7.9%
ROE, 5-yr average 0.6% 10.9%
23rd		 6.9%
Incremental ROIC 25.8% 13.4%
61st		 15.3%

Growth

MeasureMRVLIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 30.6% 17.8%
70th		 14.3%
Revenue growth (QoQ) 13.3% 13.2%
52nd		 6.6%
Revenue CAGR, 3 yr 18.9% 3.5%
80th		 9.6%
Revenue CAGR, 5 yr 22.3% 6.5%
76th		 11.5%
Gross profit CAGR, 3 yr 24.3% 2.6%
84th		 10.9%
Operating income CAGR, 3 yr —
Net income growth (TTM YoY) —
Net income CAGR, 3 yr —
EPS growth (TTM YoY) —
EPS CAGR, 3 yr —
EPS CAGR, 5 yr —
FCF growth (TTM YoY) 13.1% 31.5%
39th		 24.6%
FCF CAGR, 3 yr 31.2% 2.9%
83rd		 19.3%
Operating cash flow CAGR, 3 yr 26.6% 4.1%
78th		 17.9%
Book value CAGR, 3 yr 4.0% 7.2%
37th		 6.8%
Dividend CAGR, 3 yr -1.9% 1.9%
11th		 3.1%
Sustainable growth rate 15.2% 10.7%
62nd		 14.2%

Margin history & stability

MeasureMRVLIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 46.7% 47.6%
49th		 53.2%
Operating margin, 3-yr average 3.3% 8.0%
38th		 6.6%
Net margin, 3-yr average 2.7% 7.9%
41st		 5.2%
FCF margin, 3-yr average 22.0% 11.5%
75th		 12.7%
Revenue stability (0-1) 0.89 0.58
79th		 0.87
Earnings stability (0-1) 0.38 0.36
54th		 0.45
Margin stability (0-1) 0.94 0.93
57th		 0.95

Liquidity (latest quarter)

MeasureMRVLIndustry medianIndustry percentileSector median
Cash & short-term investments $3.9B $667.9M
85th		 $494.1M
Net cash (− = net debt) −$1.4B $201.8M
13th		 $49.8M
Working capital $5.4B $953.3M
85th		 $391.0M
Current ratio 3.17 3.45
44th		 1.92
Quick ratio 2.62 2.56
51st		 1.67
Cash ratio (cash + ST investments / current liabilities) 1.57 1.60
48th		 0.95
Defensive interval (days) 684 days 778 days
41st		 521 days

Leverage & solvency (latest quarter)

MeasureMRVLIndustry medianIndustry percentileSector median
Total debt $5.3B $307.1M
85th		 $349.3M
Debt / equity 0.29 0.17
59th		 0.29
Net debt / equity 0.07 −0.19
72nd		 −0.13
Debt / assets 19.2% 11.2%
63rd		 16.9%
Debt / capital 22.2% 14.8%
59th		 22.3%
Debt / EBITDA 1.11 1.14
47th		 1.78
Net debt / EBITDA 0.28 −0.82
74th		 −0.18
Interest coverage (EBIT / interest) 16.2x 12.4x
59th		 5.8x
Cash interest coverage 10.2x 15.4x
37th		 12.8x
Debt payback (years of OCF) 2.4 yrs 1.2 yrs
67th		 1.6 yrs
Liabilities / assets 32.7% 30.8%
53rd		 48.7%
IS credit model rating AA — —
Implied credit spread (bps) 80 125
19th		 175

Efficiency

MeasureMRVLIndustry medianIndustry percentileSector median
Asset turnover 0.39 0.52
23rd		 0.62
Fixed asset turnover 6.94 4.69
68th		 9.25
Inventory turnover 3.8 2.7
83rd		 3.8
Receivables turnover 5.1 6.3
29th		 6.2
Days sales outstanding 71 days 58 days
71st		 59 days
Days inventory outstanding 96 days 137 days
17th		 94 days
Days payables outstanding 56 days 50 days
67th		 46 days
Cash conversion cycle (days) 111 days 129 days
35th		 50 days
Capex / revenue 5.0% 4.5%
55th		 2.3%
Capex / depreciation 0.37 0.94
16th		 0.56
Operating expense ratio 36.5% 32.6%
59th		 44.3%

Cash flow & earnings quality

MeasureMRVLIndustry medianIndustry percentileSector median
Operating cash flow / net income 0.83 1.34
21st		 1.61
FCF / net income 0.66 0.88
21st		 1.33
FCF / operating cash flow 78.6% 75.0%
58th		 88.0%
Capex / operating cash flow 21.4% 25.0%
42nd		 12.0%
Accruals ratio 1.8% -4.4%
77th		 -6.3%
Sloan accruals ratio 8.5% 2.2%
65th		 -1.8%
Earnings quality score (0-1) 0.75 0.75
15th		 0.75

Dividends & buybacks

MeasureMRVLIndustry medianIndustry percentileSector median
Dividend yield 0.1% 0.0%
67th		 0.0%
Dividend per share (TTM) $0.24 $0.00
65th		 $0.00
Payout ratio (dividends / net income) 7.9% 5.0%
56th		 0.0%
Dividends / FCF 12.1% 0.0%
63rd		 0.0%
Dividend growth (YoY) -4.6% 3.6%
11th		 4.1%
Buyback yield 1.0% 0.1%
76th		 1.2%
Shareholder yield (dividends + buybacks) 1.1% 0.3%
63rd		 1.7%
Share count change (YoY) 5.8% 1.6%
74th		 0.1%
Buybacks, last 5 years $6.3B $67.3M
87th		 $215.3M

Scores & forensic checks

MeasureMRVLIndustry medianIndustry percentileSector median
IS score 67 59
68th		 56
IS profitability 59 43
65th		 40
IS growth 77 69
75th		 65
IS value 37 36
53rd		 39
IS momentum 87 79
68th		 78
IS risk (safety) 100 100
12th		 100
IS quality 73 70
61st		 67
IS balance sheet 85 84
52nd		 72
IS earnings quality 61 65
40th		 61
IS cash flow 58 58
49th		 66
Piotroski F-score (0-9) 7 6
65th		 6
Altman Z-score 12.6 12.3
51st		 4.0
Beneish M-score −1.95 −2.45
74th		 −2.58
Ohlson O-score −10.58 −9.33
28th		 −8.00
IS credit score 85 78
63rd		 69

Per share

MeasureMRVLIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $2.87 $1.49
73rd		 $0.84
Book value per share $20.12 $17.90
59th		 $9.77
Tangible book per share $2.58 $11.01
19th		 $3.22
Revenue per share $10.26 $13.47
37th		 $13.00
FCF per share $1.88 $1.50
56th		 $1.78
Operating cash flow per share $2.39 $2.35
51st		 $2.40
Cash per share $4.27 $6.31
28th		 $4.50

Size (TTM)

MeasureMRVLIndustry medianIndustry percentileSector median
Market cap $199.5B $6.8B
87th		 $4.7B
Revenue $9.5B $1.1B
81st		 $1.2B
EBITDA $4.8B $207.9M
84th		 $185.8M
Net income $2.6B $119.3M
84th		 $84.9M
Free cash flow $1.7B $114.6M
81st		 $170.6M
Total assets $27.6B $2.3B
88th		 $2.4B
Shareholders' equity $18.5B $1.4B
89th		 $1.1B
Employees 7,480 2,286
68th		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-16Bharathi Sandeep
President, Data Center Group
 Open-market sale 3,685$234.97$865,86458,748
2026-10-15Casper Mark
EVP & Chief Legal Officer
 Option exercise 1,394——3,810
2026-10-15Casper Mark
EVP & Chief Legal Officer
 Tax withholding 734$241.24$177,0703,076
2026-10-15Casper Mark
EVP & Chief Legal Officer
 Option exercise 1,529——4,605
2026-10-15Casper Mark
EVP & Chief Legal Officer
 Tax withholding 806$241.24$194,4393,799
2026-10-15Casper Mark
EVP & Chief Legal Officer
 Option exercise 1,190——4,989
2026-10-15Casper Mark
EVP & Chief Legal Officer
 Tax withholding 627$241.24$151,2574,362
2026-10-15Casper Mark
EVP & Chief Legal Officer
 Option exercise 1,394——2,788
2026-10-15Casper Mark
EVP & Chief Legal Officer
 Option exercise 1,529——9,174
2026-10-15Casper Mark
EVP & Chief Legal Officer
 Option exercise 1,190——11,900
2026-10-15Murphy Matthew J
Director, Chairman of the Board and CEO
 Open-market sale 7,500$235.47$1.8M768,186
2026-10-15Murphy Matthew J
Director, Chairman of the Board and CEO
 Option exercise 6,968——775,154

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired732,081—
GiftDisposed21,750—
Open-market saleDisposed18127,279$28.3M
Option exerciseDisposed43351,439—
Option exerciseAcquired43351,439—
Tax withholdingDisposed37168,581$33.8M
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 25 notices · 538,421 shares · $109.4M
FiledFilerShares proposedEst. proceeds
2026-10-16Sandeep Bharathi3,685$865,864
2026-10-08Justin Scarpulla1,100$300,949
2026-10-01Koopmans Family Trust U/A Dtd 03/28/201310,000$2.6M
2026-08-17Matthew Murphy22,500$5.3M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 17 trades (14 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-24Maria Elvira SalazarHouseSale$1,001 - $15,0002026-10-08
2026-09-11Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-09-04Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-08-07Ro KhannaHousePurchase$1,001 - $15,0002026-09-07
2025-07-21Angus KingSenatePurchase$1,001 - $15,0002025-08-18
2025-07-21Angus KingSenatePurchase$1,001 - $15,0002025-08-18
2025-07-21Angus Stanley KingSenatePurchase$1,001 - $15,0002025-08-18
2025-07-21Angus KingSenatePurchase$1,001 - $15,0002025-08-17
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.85,641,174$25.5B9.78%
VANGUARD CAPITAL MANAGEMENT LLC57,898,902$17.2B6.61%
FMR LLC56,933,063$17.0B6.50%
STATE STREET CORP41,834,272$12.5B4.78%
Invesco Ltd.30,285,653$9.0B3.46%
GEODE CAPITAL MANAGEMENT, LLC21,126,096$6.3B2.41%
VANGUARD PORTFOLIO MANAGEMENT LLC21,015,501$6.3B2.40%
GOLDMAN SACHS GROUP INC14,700,948$4.4B1.68%
NORGES BANK14,201,483$4.2B1.62%
PRICE T ROWE ASSOCIATES INC /MD/13,833,088$4.1B1.58%
VAN ECK ASSOCIATES CORP13,129,366$3.9B1.50%
JPMORGAN CHASE & CO11,019,782$3.1B1.26%
AMERIPRISE FINANCIAL INC9,096,728$2.7B1.04%
BANK OF AMERICA CORP /DE/8,754,223$2.6B1.00%
Amundi8,241,798$2.5B0.94%

Institutional ownership by quarter

2023-092026-0678.0%
% of shares held by 13F filers
2023-092026-062,231
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-302,23178.0%809634652107
2026-03-311,54478.2%267567531147
2025-12-311,44777.8%229538512121
2025-09-301,36875.1%220538470149
2025-06-301,32377.6%248554399145
2025-03-311,23579.6%173568375291
2024-12-311,37681.0%37545140486
2024-09-301,10481.2%121450379115
2024-06-301,11383.7%12348634293
2024-03-311,09580.5%20544329679
2023-12-3198480.6%15538031799
2023-09-3094179.8%116382288104

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-08-06SCHEDULE 13G/AAbigail P. Johnson6.5%56,893,463
2026-07-31SCHEDULE 13G/AVanguard Capital Management7.6%66,748,129
2026-07-29SCHEDULE 13G/ABlackRock, Inc.9.0%79,080,745
2026-06-05SCHEDULE 13G/AAbigail P. Johnson9.6%84,367,963
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.32%$7.3B
VTSAX0.32%$7.3B
VTI0.32%$7.3B
VSMPX0.32%$7.3B
VFFSX0.35%$6.1B
VFIAX0.35%$6.1B

Share structure

Shares outstanding875,766,423
Float872,360,289
Free float99.6%

Income statement

Fiscal years, USD
FY2022FY2023FY2024FY2025FY2026
Revenue$4.5B$5.9B$5.5B$5.8B$8.2B
Cost of revenue$2.4B$2.9B$3.2B$3.4B$4.0B
Gross profit$2.1B$3.0B$2.3B$2.4B$4.2B
R&D$1.4B$1.8B$1.9B$2.0B$2.1B
SG&A$955.3M$843.6M$834.0M$798.2M$767.1M
Operating income−$347.7M$238.0M−$567.7M−$720.3M$1.3B
EBITDA$901.1M$1.6B$850.7M$651.6M$4.5B
Pretax income−$483.5M$85.1M−$758.7M−$894.7M$3.0B
Income tax−$62.5M$248.6M$174.7M−$9.7M$376.5M
Net income−$421.0M−$163.5M−$933.4M−$885.0M$2.7B
EPS, diluted$-0.53$-0.19$-1.08$-1.02$3.07
Diluted shares796.9M851.4M861.3M865.5M869.7M

Balance sheet

FY2022FY2023FY2024FY2025FY2026
Cash & short-term investments$613.5M$911.0M$950.8M$948.3M$2.6B
Receivables$1.0B$1.2B$1.1B$1.0B$2.2B
Inventory$720.3M$1.1B$864.4M$1.0B$1.4B
Total current assets$2.5B$3.3B$3.1B$3.1B$6.5B
PP&E, net$604.8M$788.7M$959.6M$1.0B$1.2B
Goodwill & intangibles$18.2B$17.1B$15.9B$14.7B$13.1B
Total assets$22.1B$22.5B$21.2B$20.2B$22.3B
Accounts payable$461.5M$465.8M$411.3M$622.2M$1.1B
Total current liabilities$1.4B$2.4B$1.8B$2.0B$3.2B
Long-term debt$4.5B$3.9B$4.1B$3.9B$4.0B
Total liabilities$6.4B$6.9B$6.4B$6.8B$8.0B
Shareholders' equity$15.7B$15.6B$14.8B$13.4B$14.3B

Cash flow statement

Outflows are negative
FY2022FY2023FY2024FY2025FY2026
Net income−$421.0M−$163.5M−$933.4M−$885.0M$2.7B
Depreciation & amortization$1.2B$1.4B$1.4B$1.4B$1.3B
Stock-based compensation$460.7M$552.4M$609.8M$597.4M$590.8M
Change in working capital−$662.9M−$649.8M$57.8M$129.1M−$516.2M
Operating cash flow$819.3M$1.3B$1.4B$1.7B$1.8B
Capital expenditure−$186.9M−$217.3M−$350.2M−$291.6M−$354.1M
Free cash flow$632.4M$1.1B$1.0B$1.4B$1.4B
Investing cash flow−$3.7B−$328.4M−$350.5M−$300.7M$2.1B
Net debt issued / repaid$3.2B−$65.6M−$327.2M−$109.4M$408.0M
Buybacks$0−$115.0M−$150.0M−$725.0M−$2.0B
Dividends paid−$191.0M−$204.4M−$206.8M−$207.5M−$205.1M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2022FY2023FY2024FY2025FY2026
Gross margin46.3%50.5%41.6%41.3%50.1%
Operating margin-7.8%4.0%-10.3%-12.5%16.3%
Net margin-9.4%-2.8%-16.9%-15.3%32.6%
FCF margin14.2%18.1%18.5%24.1%17.0%
ROE-3.5%-1.0%-6.1%-6.3%19.3%
ROIC-1.4%-2.3%-2.5%-3.4%7.1%
ROA-2.6%-0.7%-4.3%-4.3%12.6%
Debt / equity0.300.300.300.320.33
Interest coveragen/m1.5xn/mn/m15.3x
Current ratio1.801.371.691.542.01
Revenue growth+50.3%+32.7%−7.0%+4.7%+42.1%
EPS growth−21.2%+60.8%−463.9%+5.3%+405.0%
P/E at year endn/mn/mn/mn/m25.3x
EV / EBITDA at year end71.8x24.5x72.5x154.6x15.3x
FCF yield at year end1.04%2.94%1.75%1.43%2.06%
Dividend payout————7.7%

Revenue by segment

FY2022FY2023FY2024FY2025FY2026
Data center————$6.1B
Data Center$1.8B$2.4B$2.2B$4.2B$6.1B
Communications and other————$2.1B
Enterprise Networking$907.7M$1.4B$1.2B$626.4M—
Carrier Infrastructure$820.4M$1.1B$1.1B$338.2M—
Consumer$700.0M$701.1M$622.4M$316.1M—
Automotive And Industrial$249.6M$356.5M$388.3M$322.4M—

Revenue by region · FY2026

CHINA$3.0B · 36%
Other Countries$2.4B · 29%
TAIWAN$1.7B · 20%
UNITED STATES$1.2B · 14%

Street estimates by fiscal year

Next report 2026-12-01 · consensus EPS $1.10 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$8.2B$8.1B – $8.2B$2.84$2.80 – $2.852680.1x
2027$12.1B$12.0B – $12.2B$4.21$4.17 – $4.282654.1x
2028$19.5B$17.7B – $20.2B$7.28$6.20 – $7.762731.3x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-27$0.93$0.94+0.6%$2.7B$2.7B+0.7%
2026-05-27$0.80$0.80+0.3%$2.4B$2.4B+0.5%
2026-03-05$0.79$0.80+1.0%$2.2B$2.2B+0.5%
2025-12-02$0.74$0.76+2.3%$2.1B$2.1B+0.3%
2025-08-28$0.67$0.67−0.4%$2.0B$2.0B−0.2%
2025-05-29$0.61$0.62+1.3%$1.9B$1.9B+1.0%
2025-03-05$0.59$0.60+1.7%$1.8B$1.8B+1.0%
2024-12-03$0.41$0.43+4.9%$1.5B$1.5B+4.1%
2024-08-29$0.29$0.30+2.2%$1.2B$1.3B+1.9%
2024-05-30$0.24$0.24+1.2%$1.2B$1.2B+0.6%
2024-03-07$0.46$0.46−0.4%$1.4B$1.4B+0.4%
2023-11-30$0.40$0.41+2.5%$1.4B$1.4B+1.3%
2023-08-24$0.32$0.33+3.1%$1.4B$1.3B−4.3%
2023-05-25$0.29$0.31+6.9%$1.3B$1.3B+1.6%
2023-03-02$0.46$0.460.0%$1.4B$1.4B+1.3%
2022-12-01$0.59$0.57−3.4%$1.6B$1.5B−1.1%
2022-08-25$0.56$0.57+1.8%$1.5B$1.5B−0.0%
2022-05-26$0.51$0.52+2.0%$1.4B$1.4B+1.4%
2022-03-03$0.48$0.50+4.2%$1.3B$1.3B+1.5%
2021-12-02$0.38$0.43+13.2%$1.3B$1.2B−7.3%
2021-08-26$0.31$0.34+9.7%$1.1B$1.1B−6.2%
2021-06-07$0.27$0.29+7.4%$801.1M$832.3M+3.9%
2021-03-03$0.29$0.290.0%$786.1M$797.8M+1.5%
2020-12-03$0.25$0.250.0%$750.1M$750.1M0.0%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
13.806-159.906-226.406-294.707-064.507-133.807-204.907-274.108-033.308-106.108-175.408-243.408-31
Week ofNotionalSharesTrades
2026-08-31$3.4B15,935,836302,852
2026-08-24$5.4B23,267,434466,314
2026-08-17$6.1B25,901,629458,827
2026-08-10$3.3B15,074,417292,752
2026-08-03$4.1B19,533,769360,879
2026-07-27$4.9B26,988,171450,846

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1530.5%
DateShort shareShort volumeTotal volume
2026-10-1530.5%3,244,15210,628,850
2026-10-1440.0%3,917,5709,802,252
2026-10-1342.0%3,368,4418,017,922
2026-10-1243.4%3,525,3498,129,329
2026-10-0938.3%2,989,6577,804,795
2026-10-0849.1%6,871,91714,003,360
2026-10-0751.7%6,001,93311,602,713
2026-10-0648.8%12,339,36525,277,303
2026-10-0546.3%2,621,9265,666,443
2026-10-0245.0%2,583,4305,741,705
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+2.3Jan-0.2Feb-1.8Mar+0.9Apr+4.6May-0.7Jun+2.1Jul-2.0Aug-0.5Sep-1.6Oct+6.7Nov+2.4Dec
MonthAvg returnUp yearsYears
Jan+2.3%65%20
Feb−0.2%60%20
Mar−1.8%43%21
Apr+0.9%45%20
May+4.6%50%20
Jun−0.7%40%20
Jul+2.1%50%20
Aug−2.0%40%20
Sep−0.5%50%20
Oct−1.6%50%20
Nov+6.7%75%20
Dec+2.4%45%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1437.5
MFI44.1
ADX21.5
Stochastic %K / %D6.9 / 16.8
Williams %R-98.4
CCI-218
TSI / signal5.7 / 17.2
Chaikin money flow0.10
ATR$15.86
Bollinger width20.8%
Volume vs 20-day avg1.05x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$263.12 (−13.4%)
SMA 50$241.03 (−5.5%)
SMA 200$175.85 (+29.6%)
EMA 21$255.58 (−10.9%)
EMA 50$244.73 (−6.9%)
EMA 200$191.24 (+19.1%)
Bollinger upper$290.51 (−21.6%)
Bollinger lower$235.74 (−3.4%)
Parabolic SAR$284.85 (−20.0%)
Open the live chart, 110+ indicators

About Marvell Technology, Inc.

Marvell Technology, Inc., together with its subsidiaries, provides data infrastructure semiconductor solutions and spanning the data center core to network edge in the United States, Argentina, China, India, Israel, Japan, Singapore, South Korea, Taiwan, Vietnam, and internationally. The company develops and scales system-on-a-chip architectures, integrating analog, mixed-signal, and digital signal processing functionality. It offers a portfolio of ethernet solutions, including spanning controllers, network adapters, physical transceivers, and switches; single or multiple core processors; and custom application specific integrated circuits, interconnects, fibre channel adapters, and processors. The company also provides interconnect products, including pulse amplitude modulation, coherent and coherent-lite digital signal processors (DSPs), laser drivers, trans-impedance amplifiers, silicon photonics, co-packaged optics, linear pluggable optics chipsets, data center interconnect, active electrical cable DSPs and peripheral component interconnect express retimer solutions; fibre channel products comprising host bus adapters and controllers for server and storage system connectivity; storage controllers for hard disk drives and solid-state-drives; host system interfaces, including serial advanced technology attachment and serial attached SCSI, peripheral component interconnect express, compute express link switches, non-volatile memory express (NVMe), and NVMe over fabrics; and develops ultra accelerator linkTM switches and ethernet for scale-up networking switches. The company serves data centers, communications, and other markets. It offers its products through direct customers and distributors. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.

https://www.marvell.com

Key executives

NameTitlePayBorn
Matthew J. MurphyChief Executive Officer & Chairman$4.9M1973
Sandeep BharathiPresident of Data Center Group$2.2M1971
Christopher KoopmansPresident & Chief Operating Officer$2.1M1977
Willem A. MeintjesAdvisor$1.8M1981
Mark J. CasperExecutive Vice President, Secretary & Chief Legal Officer$1.3M1968
Daniel J. DurnCFO, Executive VP & Principal Financial Officer$127,8021966
Justin ScarpullaSenior Vice President & Chief Accounting Officer—1973
Mike RobertsSenior VP & Chief Marketing Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Sandeep Bharathi President, Data Center Group Willem Meintjes Chief Financial Officer2026$703,077$46.2M$1.4M$48.4M
Chris Koopmans President and Chief Operating Officer Mark Casper Chief Legal Officer and Secretary2026$718,461$35.6M$1.4M$37.7M
Matthew J. Murphy Board Chairman and Chief Executive Officer Sandeep Bharathi President, Data Center Group2026$1.2M$20.2M$3.6M$25.1M
Willem A. Meintjes Chief Financial Officer2026$690,385$6.8M$1.1M$8.6M
Mark Casper Chief Legal Officer and Secretary2026$546,154$2.7M$745,636$4.0M
Chris Koopmans President2026$0$0$0$0

Employees

7k20227k20237k20247k20257k2026

Dividends

Ex-dateAmountPaid
2026-10-09$0.062026-10-29
2026-07-10$0.062026-07-30
2026-04-10$0.062026-04-30
2026-01-09$0.062026-01-29
2025-10-10$0.062025-10-30
2025-07-11$0.062025-07-31
2025-04-11$0.062025-05-01
2025-01-10$0.062025-01-30

Moat model

Narrow · Efficient Scale · 2026-08-01
Cost advantage52
Intangibles52
Switching costs50
Network effect75
Efficient scale80
Our component scores (0-100) and overall 59.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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