Comprehensive Stock Comparison
Compare Analog Devices, Inc. (ADI) vs Marvell Technology, Inc. (MRVL) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | ADI | 16.9% revenue growth vs MRVL's 4.7% |
| Value | MRVL | Lower P/E (28.7x vs 31.5x) |
| Quality / Margins | MRVL | 31.7% net margin vs ADI's 23.0% |
| Stability / Safety | ADI | Beta 1.55 vs MRVL's 2.25, lower leverage |
| Dividends | ADI | 1.1% yield, 22-year raise streak, vs MRVL's 0.3% |
| Momentum (1Y) | ADI | +56.4% vs MRVL's -10.8% |
| Efficiency (ROA) | MRVL | 11.5% ROA vs ADI's 5.6%, ROIC -3.1% vs 5.4% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Analog Devices is a semiconductor company that designs and manufactures analog, mixed-signal, and digital signal processing integrated circuits for industrial, automotive, communications, and consumer markets. It generates revenue primarily through sales of data converters (~30%), power management ICs (~25%), amplifiers (~15%), and RF/microwave components (~15%) to industrial and automotive customers. The company's moat lies in its deep expertise in high-performance analog design—a difficult-to-master discipline—and its extensive portfolio of precision components that are deeply embedded in mission-critical systems.
Marvell Technology is a semiconductor company that designs and sells data infrastructure chips for data centers, enterprise networking, and automotive applications. It generates revenue primarily from data center products (~40%), enterprise networking (~30%), and carrier infrastructure (~20%), with the remainder from consumer and automotive segments. The company's moat lies in its specialized expertise in data processing, storage, and networking semiconductors—particularly in high-growth areas like cloud computing and AI infrastructure.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
ADI leads in 3 of 6 categories (Total Returns, Risk & Volatility). MRVL leads in 1 (Profitability & Efficiency). 2 tied.
Financial Metrics (TTM)
ADI is the larger business by revenue, generating $11.8B annually — 1.5x MRVL's $7.8B. MRVL is the more profitable business, keeping 31.7% of every revenue dollar as net income compared to ADI's 23.0%. On growth, MRVL holds the edge at +36.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ADIAnalog Devices, I… | MRVLMarvell Technolog… |
|---|---|---|
| RevenueTrailing 12 months | $11.8B | $7.8B |
| EBITDAEarnings before interest/tax | $5.4B | $2.5B |
| Net IncomeAfter-tax profit | $2.7B | $2.5B |
| Free Cash FlowCash after capex | $4.6B | $1.6B |
| Gross MarginGross profit ÷ Revenue | +62.8% | +50.7% |
| Operating MarginEBIT ÷ Revenue | +29.2% | +14.8% |
| Net MarginNet income ÷ Revenue | +23.0% | +31.7% |
| FCF MarginFCF ÷ Revenue | +38.8% | +20.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +30.4% | +36.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +116.7% | +3.8% |
Valuation Metrics
On an enterprise value basis, ADI's 36.5x EV/EBITDA is more attractive than MRVL's 116.5x.
| Metric | ADIAnalog Devices, I… | MRVLMarvell Technolog… |
|---|---|---|
| Market CapShares × price | $173.7B | $70.7B |
| Enterprise ValueMkt cap + debt − cash | $179.9B | $74.1B |
| Trailing P/EPrice ÷ TTM EPS | 78.02x | -80.09x |
| Forward P/EPrice ÷ next-FY EPS est. | 31.50x | 28.71x |
| PEG RatioP/E ÷ EPS growth rate | 11.45x | — |
| EV / EBITDAEnterprise value multiple | 36.47x | 116.46x |
| Price / SalesMarket cap ÷ Revenue | 15.76x | 12.27x |
| Price / BookPrice ÷ Book value/share | 5.23x | 5.27x |
| Price / FCFMarket cap ÷ FCF | 40.60x | 50.91x |
Profitability & Efficiency
MRVL delivers a 17.6% return on equity — every $100 of shareholder capital generates $18 in annual profit, vs $8 for ADI. ADI carries lower financial leverage with a 0.26x debt-to-equity ratio, signaling a more conservative balance sheet compared to MRVL's 0.32x. On the Piotroski fundamental quality scale (0–9), ADI scores 8/9 vs MRVL's 3/9, reflecting strong financial health.
| Metric | ADIAnalog Devices, I… | MRVLMarvell Technolog… |
|---|---|---|
| ROE (TTM)Return on equity | +8.0% | +17.6% |
| ROA (TTM)Return on assets | +5.6% | +11.5% |
| ROICReturn on invested capital | +5.4% | -3.1% |
| ROCEReturn on capital employed | +6.5% | -3.8% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 3 |
| Debt / EquityFinancial leverage | 0.26x | 0.32x |
| Net DebtTotal debt minus cash | $6.2B | $3.4B |
| Cash & Equiv.Liquid assets | $2.5B | $948M |
| Total DebtShort + long-term debt | $8.7B | $4.3B |
| Interest CoverageEBIT ÷ Interest expense | 10.80x | 14.82x |
Total Returns (with DRIP)
A $10,000 investment in ADI five years ago would be worth $23,455 today (with dividends reinvested), compared to $16,739 for MRVL. Over the past 12 months, ADI leads with a +56.4% total return vs MRVL's -10.8%. The 3-year compound annual growth rate (CAGR) favors ADI at 25.9% vs MRVL's 22.2% — a key indicator of consistent wealth creation.
| Metric | ADIAnalog Devices, I… | MRVLMarvell Technolog… |
|---|---|---|
| YTD ReturnYear-to-date | +30.0% | -8.5% |
| 1-Year ReturnPast 12 months | +56.4% | -10.8% |
| 3-Year ReturnCumulative with dividends | +99.5% | +82.5% |
| 5-Year ReturnCumulative with dividends | +134.6% | +67.4% |
| 10-Year ReturnCumulative with dividends | +621.4% | +780.5% |
| CAGR (3Y)Annualised 3-year return | +25.9% | +22.2% |
Risk & Volatility
ADI is the less volatile stock with a 1.55 beta — it tends to amplify market swings less than MRVL's 2.25 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ADI currently trades 98.0% from its 52-week high vs MRVL's 79.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ADIAnalog Devices, I… | MRVLMarvell Technolog… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.55x | 2.25x |
| 52-Week HighHighest price in past year | $363.20 | $102.77 |
| 52-Week LowLowest price in past year | $158.65 | $47.09 |
| % of 52W HighCurrent price vs 52-week peak | +98.0% | +79.5% |
| RSI (14)Momentum oscillator 0–100 | 71.0 | 48.0 |
| Avg Volume (50D)Average daily shares traded | 3.1M | 11.3M |
Analyst Outlook
Wall Street rates ADI as "Buy" and MRVL as "Buy". Consensus price targets imply 44.1% upside for MRVL (target: $118) vs 5.2% for ADI (target: $374). For income investors, ADI offers the higher dividend yield at 1.09% vs MRVL's 0.29%.
| Metric | ADIAnalog Devices, I… | MRVLMarvell Technolog… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $374.42 | $117.68 |
| # AnalystsCovering analysts | 54 | 71 |
| Dividend YieldAnnual dividend ÷ price | +1.1% | +0.3% |
| Dividend StreakConsecutive years of raises | 22 | 0 |
| Dividend / ShareAnnual DPS | $3.87 | $0.24 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.2% | +1.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Analog Devices, Inc. (ADI) | 100 | 284.77 | +184.8% |
| Marvell Technology,… (MRVL) | 100 | 358.2 | +258.2% |
Analog Devices, Inc. (ADI) returned +135% over 5 years vs Marvell Technology,… (MRVL)'s +67%. A $10,000 investment in ADI 5 years ago would be worth $23,455 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Analog Devices, Inc. (ADI) | $3.4B | $11.0B | +222.1% |
| Marvell Technology,… (MRVL) | $2.6B | $5.8B | +117.7% |
Analog Devices, Inc.'s revenue grew from $3.4B (2016) to $11.0B (2025) — a 13.9% CAGR. Marvell Technology, Inc.'s revenue grew from $2.6B (2016) to $5.8B (2025) — a 9.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Analog Devices, Inc. (ADI) | 25.2% | 20.6% | -18.3% |
| Marvell Technology,… (MRVL) | -30.6% | -15.3% | +49.9% |
Analog Devices, Inc.'s net margin went from 25% (2016) to 21% (2025). Marvell Technology, Inc.'s net margin went from -31% (2016) to -15% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Analog Devices, Inc. (ADI) | 38.9 | 59.5 | +53.0% |
Analog Devices, Inc. has traded in a 22x–65x P/E range over 9 years; current trailing P/E is ~78x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Analog Devices, Inc. (ADI) | 2.76 | 4.56 | +65.2% |
| Marvell Technology,… (MRVL) | -1.59 | -1.02 | +35.8% |
Analog Devices, Inc.'s EPS grew from $2.76 (2016) to $4.56 (2025) — a 6% CAGR. Marvell Technology, Inc.'s EPS grew from $-1.59 (2016) to $-1.02 (2025).
Chart 6Free Cash Flow — 5 Years
Analog Devices, Inc. generated $4B FCF in 2025 (+79% vs 2021). Marvell Technology, Inc. generated $1B FCF in 2025 (+99% vs 2021).
ADI vs MRVL: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is ADI or MRVL a better buy right now?
Analog Devices, Inc. (ADI) offers the better valuation at 78.0x trailing P/E (31.5x forward), making it the more compelling value choice. Analysts rate Analog Devices, Inc. (ADI) a "Buy" — based on 54 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ADI or MRVL?
On forward P/E, Marvell Technology, Inc. is actually cheaper at 28.7x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — ADI or MRVL?
Over the past 5 years, Analog Devices, Inc. (ADI) delivered a total return of +134.6%, compared to +67.4% for Marvell Technology, Inc. (MRVL). A $10,000 investment in ADI five years ago would be worth approximately $23K today (assuming dividends reinvested). Over 10 years, the gap is even starker: MRVL returned +780.5% versus ADI's +621.4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ADI or MRVL?
By beta (market sensitivity over 5 years), Analog Devices, Inc. (ADI) is the lower-risk stock at 1.55β versus Marvell Technology, Inc.'s 2.25β — meaning MRVL is approximately 45% more volatile than ADI relative to the S&P 500. On balance sheet safety, Analog Devices, Inc. (ADI) carries a lower debt/equity ratio of 26% versus 32% for Marvell Technology, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — ADI or MRVL?
Analog Devices, Inc. (ADI) is the more profitable company, earning 20.6% net margin versus -15.3% for Marvell Technology, Inc. — meaning it keeps 20.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ADI leads at 26.6% versus -12.5% for MRVL. At the gross margin level — before operating expenses — ADI leads at 61.5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is ADI or MRVL more undervalued right now?
On forward earnings alone, Marvell Technology, Inc. (MRVL) trades at 28.7x forward P/E versus 31.5x for Analog Devices, Inc. — 2.8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MRVL: 44.1% to $117.68.
07Which pays a better dividend — ADI or MRVL?
All stocks in this comparison pay dividends. Analog Devices, Inc. (ADI) offers the highest yield at 1.1%, versus 0.3% for Marvell Technology, Inc. (MRVL).
08Is ADI or MRVL better for a retirement portfolio?
For long-horizon retirement investors, Analog Devices, Inc. (ADI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (1.1% yield, +621.4% 10Y return). Marvell Technology, Inc. (MRVL) carries a higher beta of 2.25 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (ADI: +621.4%, MRVL: +780.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between ADI and MRVL?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. ADI pays a dividend while MRVL does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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