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Marvell Technology, Inc. (MRVL) 10-Year Financial Performance & Capital Metrics

MRVL • • Industrial / General
TechnologySemiconductorsConnectivity & Communication SemiconductorsNetworking & Interface
AboutMarvell Technology, Inc., together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors. The company also provides a range of storage products comprising storage controllers for hard disk drives (HDD) and solid-state drives that support various host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics; and fiber channel products, including host bus adapters, and controllers for server and storage system connectivity. It has operations in the United States, China, Malaysia, the Philippines, Thailand, Singapore, India, Israel, Japan, South Korea, Taiwan, and Vietnam. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.Show more
  • Revenue $5.77B +4.7%
  • EBITDA $637M -23.3%
  • Net Income -$885M +5.2%
  • EPS (Diluted) -1.02 +5.6%
  • Gross Margin 41.31% -0.8%
  • EBITDA Margin 11.04% -26.8%
  • Operating Margin -12.49% -21.2%
  • Net Margin -15.35% +9.5%
  • ROE -6.26% -2.2%
  • ROIC -3.08% -36.4%
  • Debt/Equity 0.32 +9.0%
  • Interest Coverage -3.80 -41.8%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓FCF machine: 24.1% free cash flow margin
  • ✓Strong 5Y sales CAGR of 16.4%

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.72%
5Y16.4%
3Y8.93%
TTM44.95%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM267.41%

EPS CAGR

10Y-
5Y-
3Y-
TTM267.06%

ROCE

10Y Avg0.83%
5Y Avg-2.08%
3Y Avg-1.85%
Latest-3.83%

Peer Comparison

Networking & Interface
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
AVGOBroadcom Inc.1.68T354.61288.3043.98%31.59%25.84%1.15%1.00
MXLMaxLinear, Inc.1.6B18.34-6.26-48%-42.43%-38.65%0.29
VLNValens Semiconductor Ltd.239.54M2.34-6.88-31.25%-44.38%-27.68%0.05
MRVLMarvell Technology, Inc.70.43B83.05-81.424.71%31.75%17.6%1.97%0.32
ALABAstera Labs, Inc. Common Stock30.5B180.56-282.13242.24%27.5%15.64%0.34%0.00

Profit & Loss

Jan 2016Jan 2017Jan 2018Jan 2019Jan 2020Jan 2021Jan 2022Jan 2023Jan 2024Jan 2025
Sales/Revenue+2.65B2.3B2.41B2.87B2.7B2.97B4.46B5.92B5.51B5.77B
Revenue Growth %-0.27%-0.13%0.05%0.19%-0.06%0.1%0.5%0.33%-0.07%0.05%
Cost of Goods Sold+1.36B1.01B947.23M1.41B1.34B1.48B2.4B2.93B3.21B3.39B
COGS % of Revenue0.51%0.44%0.39%0.49%0.5%0.5%0.54%0.5%0.58%0.59%
Gross Profit+1.29B1.29B1.46B1.46B1.36B1.49B2.06B2.99B2.29B2.38B
Gross Margin %0.49%0.56%0.61%0.51%0.5%0.5%0.46%0.5%0.42%0.41%
Gross Profit Growth %-0.3%0%0.13%-0%-0.07%0.1%0.39%0.45%-0.23%0.04%
Operating Expenses+1.26B1.06B959.72M1.28B1.54B1.75B2.41B2.75B2.86B3.1B
OpEx % of Revenue0.48%0.46%0.4%0.45%0.57%0.59%0.54%0.46%0.52%0.54%
Selling, General & Admin269.44M251.36M239.49M370.66M464.58M467.2M955.3M843.6M834M798.2M
SG&A % of Revenue0.1%0.11%0.1%0.13%0.17%0.16%0.21%0.14%0.15%0.14%
Research & Development994.39M806.23M720.23M914.01M1.08B1.07B1.42B1.78B1.9B1.95B
R&D % of Revenue0.38%0.35%0.3%0.32%0.4%0.36%0.32%0.3%0.34%0.34%
Other Operating Expenses00000206.8M32.4M121.6M131.1M353.9M
Operating Income+24.36M232.04M502.22M173.72M-182.73M-258.4M-347.7M238M-567.7M-720.3M
Operating Margin %0.01%0.1%0.21%0.06%-0.07%-0.09%-0.08%0.04%-0.1%-0.12%
Operating Income Growth %-0.95%8.52%1.16%-0.65%-2.05%-0.41%-0.35%1.68%-3.39%-0.27%
EBITDA+137.23M350.53M589.28M481.02M342.01M383.1M897.6M1.63B830M636.6M
EBITDA Margin %0.05%0.15%0.24%0.17%0.13%0.13%0.2%0.28%0.15%0.11%
EBITDA Growth %-0.76%1.55%0.68%-0.18%-0.29%0.12%1.34%0.82%-0.49%-0.23%
D&A (Non-Cash Add-back)112.86M118.49M87.06M307.3M524.74M641.5M1.25B1.39B1.4B1.36B
EBIT-757.11M147.8M451.89M55.72M884.01M-252.9M-344.2M255.7M-547M-705.3M
Net Interest Income+15.28M12.83M16.7M-48.44M-80.81M-66.7M-138.5M-152.9M-191M-174.4M
Interest Income15.98M13.2M17.38M11.93M4.82M2.6M800K17.7M20.7M15M
Interest Expense706K368K685K60.36M85.63M69.3M139.3M170.6M211.7M189.4M
Other Income/Expense-782.18M-84.61M-51.02M-178.37M981.11M-63.8M-135.8M-152.9M-191M-174.4M
Pretax Income+-757.82M147.43M451.2M-4.65M798.38M-322.2M-483.5M85.1M-758.7M-894.7M
Pretax Margin %-0.29%0.06%0.19%-0%0.3%-0.11%-0.11%0.01%-0.14%-0.16%
Income Tax+11.34M72.61M18.06M174.45M-786.01M-44.9M-62.5M248.6M174.7M-9.7M
Effective Tax Rate %1.07%0.14%0.96%38.54%1.98%0.86%0.87%-1.92%1.23%0.99%
Net Income+-811.4M21.15M432.43M-179.09M1.58B-277.3M-421M-163.5M-933.4M-885M
Net Margin %-0.31%0.01%0.18%-0.06%0.59%-0.09%-0.09%-0.03%-0.17%-0.15%
Net Income Growth %-2.86%1.03%19.44%-1.41%9.85%-1.18%-0.52%0.61%-4.71%0.05%
Net Income (Continuing)-769.15M74.82M433.14M-179.09M1.58B-277.3M-421M-163.5M-933.4M-885M
Discontinued Operations-42.24M-53.67M-717K0000000
Minority Interest0000000000
EPS (Diluted)+-1.590.040.85-0.302.34-0.41-0.53-0.19-1.08-1.02
EPS Growth %-2.89%1.03%20.25%-1.35%8.8%-1.18%-0.29%0.64%-4.68%0.06%
EPS (Basic)-1.590.040.87-0.302.38-0.41-0.53-0.19-1.08-1.02
Diluted Shares Outstanding510.94M517.51M509.67M591.23M676.09M668.77M796.86M851.4M861.3M865.5M
Basic Shares Outstanding509.27M509.74M498.01M591.23M664.71M668.77M796.86M851.4M861.3M865.5M
Dividend Payout Ratio-5.78%0.28%-0.1%-----

Balance Sheet

Jan 2016Jan 2017Jan 2018Jan 2019Jan 2020Jan 2021Jan 2022Jan 2023Jan 2024Jan 2025
Total Current Assets+2.95B2.29B2.36B1.4B1.54B1.62B2.49B3.28B3.06B3.12B
Cash & Short-Term Investments2.28B1.67B1.84B582.41M647.6M748.47M613.5M911M950.8M948.3M
Cash Only1.28B814.09M888.48M582.41M647.6M748.47M613.5M911M950.8M948.3M
Short-Term Investments1B854.27M952.79M0000000
Accounts Receivable323.3M335.38M280.39M493.12M492.35M536.67M1.05B1.19B1.12B1.03B
Days Sales Outstanding44.5453.242.4862.8166.5865.9885.7773.5174.3365.09
Inventory200.96M170.84M170.04M276M322.98M268.23M720.3M1.07B864.4M1.03B
Days Inventory Outstanding53.8961.6665.5271.5887.8366.12109.63132.9998.16111.03
Other Current Assets45.09M57.08M30.77M000-3K109.6M125.9M113.9M
Total Non-Current Assets+2.49B2.36B2.34B8.62B9.6B9.15B19.62B19.24B18.17B17.08B
Property, Plant & Equipment296.78M243.4M202.22M318.98M468M427.54M604.8M788.7M959.6M1.04B
Fixed Asset Turnover8.93x9.45x11.91x8.98x5.77x6.94x7.38x7.51x5.74x5.56x
Goodwill2B1.99B1.99B5.49B5.34B5.34B11.51B11.59B11.59B11.59B
Intangible Assets73.16M69.64M87.54M2.69B3.04B2.51B6.64B5.54B4.35B3.11B
Long-Term Investments17.1M10.4M2.2M007.65M30.7M36.1M45.8M48.2M
Other Non-Current Assets62.51M14.87M38.43M109.59M108.31M190.27M331.5M821.9M906.9M899.5M
Total Assets+5.44B4.65B4.71B10.02B11.13B10.76B22.11B22.52B21.23B20.2B
Asset Turnover0.49x0.49x0.51x0.29x0.24x0.28x0.20x0.26x0.26x0.29x
Asset Growth %-0.08%-0.15%0.01%1.13%0.11%-0.03%1.05%0.02%-0.06%-0.05%
Total Current Liabilities+1.23B496.42M421.14M636.8M710.17M1.08B1.39B2.39B1.81B2.03B
Accounts Payable180.37M143.48M145.24M185.36M213.75M252.42M461.5M465.8M411.3M622.2M
Days Payables Outstanding48.3751.7855.9648.0758.1362.2370.2457.9846.7167.09
Short-Term Debt00000199.64M63.2M584.4M107.3M129.5M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities123.38M145.47M127.71M129.37M211.64M276.82M321M366.5M360.9M331.9M
Current Ratio2.41x4.61x5.61x2.19x2.16x1.50x1.80x1.37x1.69x1.54x
Quick Ratio2.25x4.27x5.21x1.76x1.71x1.25x1.28x0.93x1.21x1.03x
Cash Conversion Cycle50.0663.0752.0486.3196.2869.88125.16148.51125.78109.02
Total Non-Current Liabilities+76.22M124.58M145.73M2.07B1.74B1.25B5.02B4.5B4.58B4.75B
Long-Term Debt0001.73B1.44B993.17M4.48B3.91B4.06B3.93B
Capital Lease Obligations0000115.78M104.42M140.3M201.6M196M231M
Deferred Tax Liabilities1.1M38.78M52.2M246.25M31.23M22.36M34.5M64.2M58.7M33.8M
Other Non-Current Liabilities75.12M85.81M93.53M94.59M158.45M132.08M358.3M324.7M269.6M551.6M
Total Liabilities1.3B621M566.87M2.71B2.45B2.33B6.41B6.88B6.4B6.78B
Total Debt+0001.73B1.58B1.33B4.73B4.74B4.4B4.34B
Net Debt-1.28B-814.09M-888.48M1.15B935.86M581.22M4.11B3.83B3.45B3.39B
Debt / Equity---0.24x0.18x0.16x0.30x0.30x0.30x0.32x
Debt / EBITDA---3.60x4.63x3.47x5.27x2.91x5.30x6.82x
Net Debt / EBITDA-9.31x-2.32x-1.51x2.39x2.74x1.52x4.58x2.35x4.16x5.33x
Interest Coverage34.51x630.54x733.17x2.88x-2.13x-3.73x-2.50x1.40x-2.68x-3.80x
Total Equity+4.14B4.03B4.14B7.31B8.68B8.44B15.7B15.64B14.83B13.43B
Equity Growth %-0.2%-0.03%0.03%0.76%0.19%-0.03%0.86%-0%-0.05%-0.09%
Book Value per Share8.107.788.1312.3612.8412.6119.7118.3717.2215.51
Total Shareholders' Equity4.14B4.03B4.14B7.31B8.68B8.44B15.7B15.64B14.83B13.43B
Common Stock1.01M1.01M991K1.32M1.33M1.35M1.7M1.7M1.7M1.7M
Retained Earnings1.11B1.01B1.41B1.12B2.54B2.1B1.49B1.12B-16.7M-1.11B
Treasury Stock0000000000
Accumulated OCI-795K23K-2.32M000001.1M400K
Minority Interest0000000000

Cash Flow

Jan 2016Jan 2017Jan 2018Jan 2019Jan 2020Jan 2021Jan 2022Jan 2023Jan 2024Jan 2025
Cash from Operations+205.35M-358.44M571.11M596.74M360.3M817.3M819.3M1.29B1.37B1.68B
Operating CF Margin %0.08%-0.16%0.24%0.21%0.13%0.28%0.18%0.22%0.25%0.29%
Operating CF Growth %-0.72%-2.75%2.59%0.04%-0.4%1.27%0%0.57%0.06%0.23%
Net Income-811.4M21.15M520.83M-179.09M1.58B-277.3M-421M-163.5M-933.4M-885M
Depreciation & Amortization112.86M118.49M87.06M307.3M524.74M641.5M1.25B1.39B1.4B1.36B
Stock-Based Compensation133.78M113.97M86.69M184.06M242.21M241.5M460.7M552.4M609.8M597.4M
Deferred Taxes6.1M44.64M19.82M118.65M-785.16M-39.5M-93.9M50.4M150.8M-111.9M
Other Non-Cash Items29.82M52.55M-99.15M240.27M-1.02B183.2M291.1M107M87.8M594.7M
Working Capital Changes734.2M-709.24M-44.14M-74.45M-190.78M67.9M-662.9M-649.8M57.8M129.1M
Change in Receivables97.66M-12.08M54.99M-99.04M11.24M-44.3M-409M-142.7M70.6M93.2M
Change in Inventory90.59M29.32M-12.16M4.35M12.76M29.9M-291.9M-385.9M201.9M-230M
Change in Payables-105.9M-28.15M-16.61M-6.49M1.66M39.7M93.2M-87.8M-149.1M181.5M
Cash from Investing+201.69M161.59M39.52M-1.75B558.85M-119.6M-3.75B-328.4M-350.5M-300.7M
Capital Expenditures-47.49M-44.51M-38.55M-75.92M-81.92M-106.8M-169.2M-206.2M-336.3M-284.6M
CapEx % of Revenue0.02%0.02%0.02%0.03%0.03%0.04%0.04%0.03%0.06%0.05%
Acquisitions----------
Investments----------
Other Investing1.77M-10.29M178M29.26M-5.77M-12.8M-20.9M-9.9M-14.2M-5.7M
Cash from Financing+-339.84M-267.25M-536.24M849.74M-853.95M-596.8M2.79B-662.9M-980.2M-1.38B
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-122.82M-122.29M-119.25M-148.08M-159.57M-160.6M-191M-204.4M-206.8M-207.5M
Share Repurchases----------
Other Financing43.86M36.61M110.58M-34.69M-30.1M-161M-206.3M-277.9M-296.2M-341.1M
Net Change in Cash----------
Free Cash Flow+149.62M-413.25M525.98M509.28M273.66M697.8M632.4M1.07B1.02B1.39B
FCF Margin %0.06%-0.18%0.22%0.18%0.1%0.24%0.14%0.18%0.19%0.24%
FCF Growth %-0.77%-3.76%2.27%-0.03%-0.46%1.55%-0.09%0.69%-0.05%0.36%
FCF per Share0.29-0.801.030.860.401.040.791.261.181.61
FCF Conversion (FCF/Net Income)-0.25x-16.95x1.32x-3.33x0.23x-2.95x-1.95x-7.88x-1.47x-1.90x
Interest Paid703K363K746K0054.6M91.2M147.9M173.7M173.4M
Taxes Paid13.36M17.03M11.4M0014.2M7.9M95.9M120.6M40.1M

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)-17.48%0.52%10.59%-3.13%19.82%-3.24%-3.49%-1.04%-6.13%-6.26%
Return on Invested Capital (ROIC)0.54%5.73%11.65%2.23%-1.52%-2.08%-1.81%0.91%-2.26%-3.08%
Gross Margin48.63%56.05%60.68%50.89%50.27%50.13%46.26%50.47%41.64%41.31%
Net Margin-30.63%0.92%17.95%-6.25%58.7%-9.34%-9.43%-2.76%-16.95%-15.35%
Debt / Equity---0.24x0.18x0.16x0.30x0.30x0.30x0.32x
Interest Coverage34.51x630.54x733.17x2.88x-2.13x-3.73x-2.50x1.40x-2.68x-3.80x
FCF Conversion-0.25x-16.95x1.32x-3.33x0.23x-2.95x-1.95x-7.88x-1.47x-1.90x
Revenue Growth-27.16%-13.14%4.7%18.95%-5.81%9.99%50.3%32.66%-6.96%4.71%

Revenue by Segment

20152022202320242025
Data Center-1.78B2.41B2.22B4.16B
Data Center Growth--34.97%-7.97%87.86%
Enterprise Networking-907.74M1.37B1.23B626.4M
Enterprise Networking Growth--50.84%-10.28%-49.01%
Carrier Infrastructure-820.38M1.08B1.05B338.2M
Carrier Infrastructure Growth--32.13%-2.96%-67.85%
Automotive And Industrial-249.64M356.5M388.3M322.4M
Automotive And Industrial Growth--42.81%8.92%-16.97%
Consumer-699.99M701.1M622.4M316.1M
Consumer Growth--0.16%-11.23%-49.21%
Information Storage1.74B----
Information Storage Growth-----
Mobile and Wireless1.07B----
Mobile and Wireless Growth-----
Networking674.7M----
Networking Growth-----
Other products215.83M----
Other products Growth-----

Revenue by Geography

20152022202320242025
CHINA2.21B1.97B2.49B2.37B2.51B
CHINA Growth--11.03%26.17%-4.64%5.76%
UNITED STATES62.33M484.04M690.1M795.6M956.9M
UNITED STATES Growth-676.54%42.57%15.29%20.27%
Other Countries502.76M719.5M716.3M667.1M563.3M
Other Countries Growth-43.11%-0.44%-6.87%-15.56%
TAIWAN--289M161.9M560.7M
TAIWAN Growth----43.98%246.32%
SINGAPORE-220.81M331.7M336.2M452.2M
SINGAPORE Growth--50.22%1.36%34.50%
THAILAND294.71M355.3M391.9M329.2M304.4M
THAILAND Growth-20.56%10.30%-16.00%-7.53%
JAPAN-222.83M260M169.1M166.2M
JAPAN Growth--16.68%-34.96%-1.71%
MALAYSIA377.9M275.97M393.2M222.6M143.1M
MALAYSIA Growth--26.97%42.48%-43.39%-35.71%
FINLAND--189.6M380.4M112.9M
FINLAND Growth---100.63%-70.32%
PHILIPPINES254.38M213.39M171.5M74.6M-
PHILIPPINES Growth--16.11%-19.63%-56.50%-

Frequently Asked Questions

Growth & Financials

Marvell Technology, Inc. (MRVL) reported $7.79B in revenue for fiscal year 2025. This represents a 130% increase from $3.39B in 2012.

Marvell Technology, Inc. (MRVL) grew revenue by 4.7% over the past year. Growth has been modest.

Yes, Marvell Technology, Inc. (MRVL) is profitable, generating $2.47B in net income for fiscal year 2025 (-15.3% net margin).

Dividend & Returns

Yes, Marvell Technology, Inc. (MRVL) pays a dividend with a yield of 0.29%. This makes it attractive for income-focused investors.

Marvell Technology, Inc. (MRVL) has a return on equity (ROE) of -6.3%. Negative ROE indicates the company is unprofitable.

Marvell Technology, Inc. (MRVL) generated $1.58B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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