MACOM Technology Solutions Holdings, Inc. (MTSI) 10-Year Financial Performance & Capital Metrics

MTSI • • Industrial / General

TechnologySemiconductorsConnectivity & Communication SemiconductorsWireless Connectivity

AboutMACOM Technology Solutions Holdings, Inc., together with its subsidiaries, designs and manufactures analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum in the United States, China, the Asia Pacific, and internationally. The company offers a portfolio of standard and custom devices, including integrated circuits, multi-chip modules, diodes, amplifiers, switches and switch limiters, passive and active components, and subsystems. Its semiconductor products are electronic components that are incorporated in electronic systems, such as wireless basestations, high-capacity optical networks, radar, and medical systems and test and measurement. The company serves various markets comprising telecommunication that includes carrier infrastructure, which comprise long-haul/metro, 5G, and fiber-to-the-X/passive optical network; industrial and defense, including military and commercial radar, RF jammers, electronic countermeasures, and communication data links, as well as multi-market applications, such as industrial, medical, test and measurement, and scientific applications; and data centers. It sells its products through direct sales force, applications engineering staff, independent sales representatives, resellers, and distributors. The company was founded in 1950 and is headquartered in Lowell, Massachusetts.Show more

Revenue $967M +32.6%
EBITDA $193M +27.7%
Net Income -$54M -170.5%
EPS (Diluted) -0.73 -170.2%
Gross Margin 54.94% +7.9%
EBITDA Margin 19.95% -3.7%
Operating Margin 13.4% +16.6%
Net Margin -5.6% -153.2%
ROE -4.42% -159.6%
ROIC 6.04% +31.0%
Debt/Equity 0.41 -6.4%
Interest Coverage 23.50 +43.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 19.9% free cash flow margin
✓Momentum leader: RS Rating 85 (top 15%)
✓Strong 5Y sales CAGR of 12.8%
✓Healthy 5Y average net margin of 18.1%
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 4.4%
✗Expensive at 12.2x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.68%

5Y12.78%

3Y12.73%

TTM32.58%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-170.53%

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg3.3%

5Y Avg7.83%

3Y Avg6.95%

Latest7.57%

Peer Comparison

Wireless Connectivity

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
QRVOQorvo, Inc.	7.45B	80.64	139.03	-1.34%	5.95%	6.21%	6.5%	0.46
QCOMQUALCOMM Incorporated	172.85B	161.39	32.21	13.66%	12.51%	26.13%	7.42%	0.70
NXPINXP Semiconductors N.V.	60.05B	238.60	24.52	-4.99%	17.11%	19.77%	3.42%	1.14
SWKSSkyworks Solutions, Inc.	8.76B	58.46	18.98	-2.18%	11.67%	8.29%	12.62%	0.21
SQNSSequans Communications S.A.	86.54M	5.55	0.28	9.56%	-79.37%	-11.09%		0.30
PRSOPeraso Inc.	9.31M	1.00	-0.28	5.99%	-39%	-140.79%		0.09
MOBXMobix Labs, Inc.	20.94M	0.22	-0.38	426.31%	-381.82%	-98.68%		0.88
GCTSGCT Semiconductor Holding, Inc.	61.67M	1.08	-4	-43.05%	-10.1%

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Oct 2025
Sales/Revenue+	544.34M	698.77M	570.4M	499.71M	530.04M	606.92M	675.17M	648.41M	729.58M	967.26M
Revenue Growth %	0.29%	0.28%	-0.18%	-0.12%	0.06%	0.15%	0.11%	-0.04%	0.13%	0.33%
Cost of Goods Sold+	282.87M	364.14M	372.76M	323.87M	292.74M	295.98M	294.58M	286.35M	358.18M	435.82M
COGS % of Revenue	0.52%	0.52%	0.65%	0.65%	0.55%	0.49%	0.44%	0.44%	0.49%	0.45%
Gross Profit+	261.47M	334.63M	197.64M	175.84M	237.3M	310.94M	380.59M	362.06M	371.4M	531.44M
Gross Margin %	0.48%	0.48%	0.35%	0.35%	0.45%	0.51%	0.56%	0.56%	0.51%	0.55%
Gross Profit Growth %	0.32%	0.28%	-0.41%	-0.11%	0.35%	0.31%	0.22%	-0.05%	0.03%	0.43%
Operating Expenses+	224.09M	287.02M	287.62M	271.68M	232.77M	229.94M	247.91M	245.56M	287.53M	401.79M
OpEx % of Revenue	0.41%	0.41%	0.5%	0.54%	0.44%	0.38%	0.37%	0.38%	0.39%	0.42%
Selling, General & Admin	116.39M	139.03M	109.91M	108.21M	91.44M	91.09M	99.69M	97.02M	110.14M	154.88M
SG&A % of Revenue	0.21%	0.2%	0.19%	0.22%	0.17%	0.15%	0.15%	0.15%	0.15%	0.16%
Research & Development	107.7M	147.99M	177.71M	163.47M	141.33M	138.84M	148.23M	148.54M	177.4M	244.47M
R&D % of Revenue	0.2%	0.21%	0.31%	0.33%	0.27%	0.23%	0.22%	0.23%	0.24%	0.25%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	2.44M
Operating Income+	37.38M	47.61M	-89.98M	-95.85M	4.53M	81M	132.67M	116.5M	83.87M	129.65M
Operating Margin %	0.07%	0.07%	-0.16%	-0.19%	0.01%	0.13%	0.2%	0.18%	0.11%	0.13%
Operating Income Growth %	0.6%	0.27%	-2.89%	-0.07%	1.05%	16.89%	0.64%	-0.12%	-0.28%	0.55%
EBITDA+	107.97M	140.65M	22.4M	8.57M	83.35M	150.96M	189.9M	168.65M	151.12M	192.95M
EBITDA Margin %	0.2%	0.2%	0.04%	0.02%	0.16%	0.25%	0.28%	0.26%	0.21%	0.2%
EBITDA Growth %	0.38%	0.3%	-0.84%	-0.62%	8.73%	0.81%	0.26%	-0.11%	-0.1%	0.28%
D&A (Non-Cash Add-back)	70.59M	93.04M	112.38M	104.42M	78.83M	69.95M	57.23M	52.15M	67.25M	63.3M
EBIT	-3.14M	-20.65M	-123.9M	-387.35M	-14.18M	63.54M	247.42M	127.54M	96.66M	-23.51M
Net Interest Income+	-18.43M	-28.86M	-31.34M	-35.8M	-27.38M	-20.59M	-4.3M	8.42M	17.85M	24.34M
Interest Income	0	0	0	0	0	1.47M	4.25M	20.81M	22.99M	29.85M
Interest Expense	18.43M	28.86M	31.34M	35.8M	27.38M	22.06M	8.55M	12.38M	5.14M	5.52M
Other Income/Expense	-58.95M	-97.12M	-65.25M	-327.31M	-46.09M	-38.06M	110.45M	-1.34M	7.66M	-158.68M
Pretax Income+	-21.57M	-49.51M	-155.24M	-423.15M	-41.56M	42.95M	243.12M	115.16M	91.53M	-29.02M
Pretax Margin %	-0.04%	-0.07%	-0.27%	-0.85%	-0.08%	0.07%	0.36%	0.18%	0.13%	-0.03%
Income Tax+	-17.98M	100.91M	-21.47M	-39.35M	4.52M	4.97M	-196.84M	23.58M	14.67M	25.18M
Effective Tax Rate %	-0.07%	3.42%	0.9%	0.91%	1.11%	0.88%	1.81%	0.8%	0.84%	1.87%
Net Income+	1.43M	-169.49M	-139.98M	-383.8M	-46.08M	37.97M	439.95M	91.58M	76.86M	-54.21M
Net Margin %	0%	-0.24%	-0.25%	-0.77%	-0.09%	0.06%	0.65%	0.14%	0.11%	-0.06%
Net Income Growth %	-0.97%	-119.2%	0.17%	-1.74%	0.88%	1.82%	10.59%	-0.79%	-0.16%	-1.71%
Net Income (Continuing)	-3.59M	-150.42M	-133.76M	-383.8M	-46.08M	37.97M	439.95M	91.58M	76.86M	-54.21M
Discontinued Operations	5.02M	-19.08M	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.03	-2.79	-2.14	-5.88	-0.69	0.54	6.18	1.28	1.04	-0.73
EPS Growth %	-0.97%	-94%	0.23%	-1.75%	0.88%	1.78%	10.44%	-0.79%	-0.19%	-1.7%
EPS (Basic)	0.03	-2.79	-2.16	-5.88	-0.69	0.55	6.30	1.29	1.07	-0.73
Diluted Shares Outstanding	53.36M	60.7M	65.31M	65.69M	66.61M	70.47M	71.17M	71.5M	73.58M	73.99M
Basic Shares Outstanding	51.26M	60.65M	64.74M	65.69M	66.61M	68.45M	69.78M	70.8M	71.96M	73.99M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Oct 2025
Total Current Assets+	612.94M	562.9M	458.86M	398.58M	481.52M	521.54M	813.08M	761.19M	903.08M	1.21B
Cash & Short-Term Investments	356.75M	214.22M	192.9M	176.75M	333.15M	344.9M	586.53M	514.53M	581.89M	785.98M
Cash Only	332.98M	130.1M	94.68M	75.52M	129.44M	156.54M	119.95M	173.95M	146.81M	112.14M
Short-Term Investments	23.78M	84.12M	98.22M	101.23M	203.71M	188.37M	466.58M	340.57M	435.08M	673.83M
Accounts Receivable	129.94M	154.59M	114.98M	86.45M	45.88M	84.57M	101.55M	91.25M	105.7M	148.65M
Days Sales Outstanding	87.13	80.75	73.57	63.15	31.6	50.86	54.9	51.37	52.88	56.09
Inventory	114.94M	136.07M	122.84M	107.88M	91.58M	82.7M	114.96M	136.3M	194.49M	237.84M
Days Inventory Outstanding	148.31	136.39	120.28	121.58	114.19	101.98	142.44	173.74	198.19	199.19
Other Current Assets	0	35.57M	4.84M	0	0	0	0	19.11M	21M	32.62M
Total Non-Current Assets+	575.61M	1.07B	1.02B	704.59M	664.91M	612.61M	758.73M	792.05M	852.56M	898.27M
Property, Plant & Equipment	99.17M	131.02M	149.92M	132.65M	118.87M	120.53M	123.7M	149.5M	176.02M	230.29M
Fixed Asset Turnover	5.49x	5.33x	3.80x	3.77x	4.46x	5.04x	5.46x	4.34x	4.14x	4.20x
Goodwill	120.02M	313.76M	314.08M	314.73M	315.01M	314.24M	311.42M	323.4M	332.2M	336.31M
Intangible Assets	259.6M	621.09M	512.78M	181.23M	130.9M	84.69M	51.25M	66.99M	76.09M	78.57M
Long-Term Investments	0	0	31.09M	23.61M	17.75M	15.34M	2.5M	0	0	0
Other Non-Current Assets	7.21M	7.4M	13.48M	10.96M	40.45M	38.3M	32.45M	34.06M	55.76M	45.1M
Total Assets+	1.19B	1.64B	1.48B	1.1B	1.15B	1.13B	1.57B	1.55B	1.76B	2.1B
Asset Turnover	0.46x	0.43x	0.38x	0.45x	0.46x	0.54x	0.43x	0.42x	0.42x	0.46x
Asset Growth %	0.37%	0.38%	-0.09%	-0.26%	0.04%	-0.01%	0.39%	-0.01%	0.13%	0.2%
Total Current Liabilities+	92.15M	117.12M	107M	74.84M	94.95M	93.04M	97.21M	83.53M	108.18M	325.12M
Accounts Payable	30.58M	47.04M	41.95M	24.82M	23.04M	28.71M	30.73M	24.97M	43.2M	67.59M
Days Payables Outstanding	39.46	47.15	41.08	27.97	28.73	35.41	38.08	31.82	44.02	56.6
Short-Term Debt	7.2M	6.88M	6.88M	6.88M	6.88M	0	0	0	0	160.95M
Deferred Revenue (Current)	-1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	34.68M	23.7M	26.59M	18.22M	32.25M	33.47M	34.86M	26.93M	30.77M	48.24M
Current Ratio	6.65x	4.81x	4.29x	5.33x	5.07x	5.61x	8.36x	9.11x	8.35x	3.71x
Quick Ratio	5.40x	3.64x	3.14x	3.88x	4.11x	4.72x	7.18x	7.48x	6.55x	2.98x
Cash Conversion Cycle	195.98	169.99	152.78	156.75	117.06	117.44	159.26	193.28	207.05	198.68
Total Non-Current Liabilities+	633.62M	742.63M	706.82M	716.84M	751.33M	569.37M	631.86M	522.12M	521.11M	451.15M
Long-Term Debt	573.88M	661.47M	658.37M	655.27M	652.17M	492.1M	565.92M	447.13M	448.28M	339.63M
Capital Lease Obligations	2.46M	17.27M	29.02M	29.51M	28.99M	28.04M	27.03M	31.78M	31.13M	30.5M
Deferred Tax Liabilities	11.77M	15.17M	389K	632K	0	0	0	0	0	0
Other Non-Current Liabilities	45.51M	33.54M	18.64M	31.43M	70.17M	49.23M	38.9M	43.21M	41.7M	81.01M
Total Liabilities	725.77M	859.75M	813.82M	791.68M	846.28M	662.41M	729.07M	605.64M	629.3M	776.26M
Total Debt+	583.55M	686.45M	694.75M	692.75M	697.02M	528.55M	600.43M	487.33M	487.78M	537.99M
Net Debt	250.57M	556.34M	600.07M	617.23M	567.58M	372.01M	480.48M	313.38M	340.98M	425.85M
Debt / Equity	1.26x	0.88x	1.04x	2.22x	2.32x	1.12x	0.71x	0.51x	0.43x	0.41x
Debt / EBITDA	5.40x	4.88x	31.01x	80.82x	8.36x	3.50x	3.16x	2.89x	3.23x	2.79x
Net Debt / EBITDA	2.32x	3.96x	26.79x	72.01x	6.81x	2.46x	2.53x	1.86x	2.26x	2.21x
Interest Coverage	2.03x	1.65x	-2.87x	-2.68x	0.17x	3.67x	15.52x	9.41x	16.33x	23.50x
Total Equity+	462.78M	777.37M	668.67M	311.49M	300.15M	471.74M	842.75M	947.6M	1.13B	1.33B
Equity Growth %	0.09%	0.68%	-0.14%	-0.53%	-0.04%	0.57%	0.79%	0.12%	0.19%	0.18%
Book Value per Share	8.67	12.81	10.24	4.74	4.51	6.69	11.84	13.25	15.31	17.94
Total Shareholders' Equity	462.78M	777.37M	668.67M	311.49M	300.15M	471.74M	842.75M	947.6M	1.13B	1.33B
Common Stock	54K	64K	65K	66K	67K	69K	70K	71K	72K	74K
Retained Earnings	-97.49M	-266.98M	-407.98M	-791.77M	-839.73M	-801.75M	-354.29M	-262.71M	-185.85M	-240.06M
Treasury Stock	-330K	-330K	-330K	-330K	-330K	-330K	-330K	-330K	-330K	-330K
Accumulated OCI	9.04M	2.98M	2.19M	4.36M	5.01M	4.15M	-5.85M	-3.63M	2.5M	5.03M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Oct 2025
Cash from Operations+	79.23M	61.05M	36.29M	20.7M	171.4M	148.41M	176.98M	166.92M	162.64M	235.37M
Operating CF Margin %	0.15%	0.09%	0.06%	0.04%	0.32%	0.24%	0.26%	0.26%	0.22%	0.24%
Operating CF Growth %	1.35%	-0.23%	-0.41%	-0.43%	7.28%	-0.13%	0.19%	-0.06%	-0.03%	0.45%
Net Income	1.43M	-169.49M	-139.98M	-386.2M	-46.08M	37.97M	439.95M	91.58M	76.86M	-54.21M
Depreciation & Amortization	70.59M	93M	112.38M	104.42M	78.83M	69.95M	57.23M	52.15M	67.25M	63.3M
Stock-Based Compensation	26.95M	36.34M	31.94M	23.79M	35.67M	35M	41.19M	38.1M	45.64M	86.14M
Deferred Taxes	-9.94M	92.17M	-16.53M	-38.89M	3.34M	2.52M	-200.43M	19.8M	4.95M	2.64M
Other Non-Cash Items	31.2M	31.87M	25.88M	284.54M	24.12M	28.89M	-114.26M	-6.95M	-1.03M	175.3M
Working Capital Changes	-41.02M	-22.83M	22.6M	33.04M	75.52M	-25.93M	-46.69M	-27.77M	-31.03M	-37.79M
Change in Receivables	-17.21M	-15.75M	38.68M	27.59M	23.91M	-38.69M	-16.98M	12.25M	-16.8M	-41.98M
Change in Inventory	-24.71M	-4.09M	-2.17M	14.96M	16.3M	8.89M	-32.26M	-10.57M	-30.23M	-26.56M
Change in Payables	-1.07M	3.45M	-2.61M	-12.22M	-1.6M	5.81M	2.38M	-21.32M	18.23M	22.21M
Cash from Investing+	-94.86M	-337.57M	-67.12M	-33.89M	-107.19M	-2.58M	-182.86M	36.34M	-181.13M	-328.26M
Capital Expenditures	-32.1M	-32.8M	-53.04M	-37.96M	-17.57M	-17.95M	-26.51M	-24.7M	-22.44M	-42.55M
CapEx % of Revenue	0.06%	0.05%	0.09%	0.08%	0.03%	0.03%	0.04%	0.04%	0.03%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	43.82M	-18.82M	-94.36M	-173.02M	-183.46M	284K	-244.62M	-507.82M	-4.33M	-40.82M
Cash from Financing+	227.35M	73.65M	-4.45M	-5.83M	-10.72M	-119.09M	-28.91M	-149.02M	-9.06M	58.1M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.8M	1.51M	5.97M	-578K	4.58M	1.03M	8.05M	5.57M	6.59M	-14.38M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	47.13M	28.25M	-16.75M	-17.26M	153.82M	130.46M	150.47M	142.22M	140.2M	192.82M
FCF Margin %	0.09%	0.04%	-0.03%	-0.03%	0.29%	0.21%	0.22%	0.22%	0.19%	0.2%
FCF Growth %	6.95%	-0.4%	-1.59%	-0.03%	9.91%	-0.15%	0.15%	-0.05%	-0.01%	0.38%
FCF per Share	0.88	0.47	-0.26	-0.26	2.31	1.85	2.11	1.99	1.91	2.61
FCF Conversion (FCF/Net Income)	55.25x	-0.36x	-0.26x	-0.05x	-3.72x	3.91x	0.40x	1.82x	2.12x	-4.34x
Interest Paid	0	0	0	0	0	11.84M	6.74M	10.78M	3.98M	0
Taxes Paid	0	0	0	0	0	1.62M	2.19M	2.87M	6M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	0.32%	-27.33%	-19.36%	-78.31%	-15.07%	9.84%	66.94%	10.23%	7.41%	-4.42%
Return on Invested Capital (ROIC)	4.12%	3.49%	-5.19%	-6.54%	0.38%	7.1%	9.18%	6.76%	4.61%	6.04%
Gross Margin	48.03%	47.89%	34.65%	35.19%	44.77%	51.23%	56.37%	55.84%	50.91%	54.94%
Net Margin	0.26%	-24.26%	-24.54%	-76.8%	-8.69%	6.26%	65.16%	14.12%	10.53%	-5.6%
Debt / Equity	1.26x	0.88x	1.04x	2.22x	2.32x	1.12x	0.71x	0.51x	0.43x	0.41x
Interest Coverage	2.03x	1.65x	-2.87x	-2.68x	0.17x	3.67x	15.52x	9.41x	16.33x	23.50x
FCF Conversion	55.25x	-0.36x	-0.26x	-0.05x	-3.72x	3.91x	0.40x	1.82x	2.12x	-4.34x
Revenue Growth	29.42%	28.37%	-18.37%	-12.39%	6.07%	14.51%	11.25%	-3.96%	12.52%	32.58%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	152.97M	156M	265.04M	272.95M	239.51M	217.47M	277.85M	315.28M	313.35M	327.68M
UNITED STATES Growth	-	1.98%	69.90%	2.99%	-12.25%	-9.20%	27.76%	13.47%	-0.61%	4.57%
CHINA	92.49M	-	206.14M	159.76M	132.33M	192.99M	165.93M	175.98M	129.88M	177.7M
CHINA Growth	-	-	-	-22.50%	-17.17%	45.84%	-14.02%	6.05%	-26.20%	36.82%
Other Countries	118.72M	41.67M	56.77M	58.1M	47.73M	34.58M	69.57M	76.8M	114.51M	134.91M
Other Countries Growth	-	-64.90%	36.24%	2.34%	-17.85%	-27.56%	101.19%	10.40%	49.09%	17.82%
Asia Pacific	-	346.67M	170.83M	79.58M	80.14M	85M	93.57M	107.11M	90.67M	89.29M
Asia Pacific Growth	-	-	-50.72%	-53.41%	0.70%	6.07%	10.09%	14.47%	-15.35%	-1.52%
TAIWAN, PROVINCE OF CHINA	56.42M	-	-	-	-	-	-	-	-	-
TAIWAN, PROVINCE OF CHINA Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

MACOM Technology Solutions Holdings, Inc. (MTSI) reported $967.3M in revenue for fiscal year 2025. This represents a 220% increase from $302.2M in 2012.

MACOM Technology Solutions Holdings, Inc. (MTSI) grew revenue by 32.6% over the past year. This is strong growth.

MACOM Technology Solutions Holdings, Inc. (MTSI) reported a net loss of $54.2M for fiscal year 2025.

Dividend & Returns

MACOM Technology Solutions Holdings, Inc. (MTSI) has a return on equity (ROE) of -4.4%. Negative ROE indicates the company is unprofitable.

MACOM Technology Solutions Holdings, Inc. (MTSI) generated $164.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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MACOM Technology Solutions Holdings, Inc. (MTSI) 10-Year Financial Performance & Capital Metrics

MTSI • • Industrial / General

TechnologySemiconductorsConnectivity & Communication SemiconductorsWireless Connectivity

Revenue $967M +32.6%
EBITDA $193M +27.7%
Net Income -$54M -170.5%
EPS (Diluted) -0.73 -170.2%
Gross Margin 54.94% +7.9%
EBITDA Margin 19.95% -3.7%
Operating Margin 13.4% +16.6%
Net Margin -5.6% -153.2%
ROE -4.42% -159.6%
ROIC 6.04% +31.0%
Debt/Equity 0.41 -6.4%
Interest Coverage 23.50 +43.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 19.9% free cash flow margin
✓Momentum leader: RS Rating 85 (top 15%)
✓Strong 5Y sales CAGR of 12.8%
✓Healthy 5Y average net margin of 18.1%
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 4.4%
✗Expensive at 12.2x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y8.68%

5Y12.78%

3Y12.73%

TTM32.58%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-170.53%

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg3.3%

5Y Avg7.83%

3Y Avg6.95%

Latest7.57%

Peer Comparison

Wireless Connectivity

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
QRVOQorvo, Inc.	7.45B	80.64	139.03	-1.34%	5.95%	6.21%	6.5%	0.46
QCOMQUALCOMM Incorporated	172.85B	161.39	32.21	13.66%	12.51%	26.13%	7.42%	0.70
NXPINXP Semiconductors N.V.	60.05B	238.60	24.52	-4.99%	17.11%	19.77%	3.42%	1.14
SWKSSkyworks Solutions, Inc.	8.76B	58.46	18.98	-2.18%	11.67%	8.29%	12.62%	0.21
SQNSSequans Communications S.A.	86.54M	5.55	0.28	9.56%	-79.37%	-11.09%		0.30
PRSOPeraso Inc.	9.31M	1.00	-0.28	5.99%	-39%	-140.79%		0.09
MOBXMobix Labs, Inc.	20.94M	0.22	-0.38	426.31%	-381.82%	-98.68%		0.88
GCTSGCT Semiconductor Holding, Inc.	61.67M	1.08	-4	-43.05%	-10.1%

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Oct 2025
Sales/Revenue+	544.34M	698.77M	570.4M	499.71M	530.04M	606.92M	675.17M	648.41M	729.58M	967.26M
Revenue Growth %	0.29%	0.28%	-0.18%	-0.12%	0.06%	0.15%	0.11%	-0.04%	0.13%	0.33%
Cost of Goods Sold+	282.87M	364.14M	372.76M	323.87M	292.74M	295.98M	294.58M	286.35M	358.18M	435.82M
COGS % of Revenue	0.52%	0.52%	0.65%	0.65%	0.55%	0.49%	0.44%	0.44%	0.49%	0.45%
Gross Profit+	261.47M	334.63M	197.64M	175.84M	237.3M	310.94M	380.59M	362.06M	371.4M	531.44M
Gross Margin %	0.48%	0.48%	0.35%	0.35%	0.45%	0.51%	0.56%	0.56%	0.51%	0.55%
Gross Profit Growth %	0.32%	0.28%	-0.41%	-0.11%	0.35%	0.31%	0.22%	-0.05%	0.03%	0.43%
Operating Expenses+	224.09M	287.02M	287.62M	271.68M	232.77M	229.94M	247.91M	245.56M	287.53M	401.79M
OpEx % of Revenue	0.41%	0.41%	0.5%	0.54%	0.44%	0.38%	0.37%	0.38%	0.39%	0.42%
Selling, General & Admin	116.39M	139.03M	109.91M	108.21M	91.44M	91.09M	99.69M	97.02M	110.14M	154.88M
SG&A % of Revenue	0.21%	0.2%	0.19%	0.22%	0.17%	0.15%	0.15%	0.15%	0.15%	0.16%
Research & Development	107.7M	147.99M	177.71M	163.47M	141.33M	138.84M	148.23M	148.54M	177.4M	244.47M
R&D % of Revenue	0.2%	0.21%	0.31%	0.33%	0.27%	0.23%	0.22%	0.23%	0.24%	0.25%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	2.44M
Operating Income+	37.38M	47.61M	-89.98M	-95.85M	4.53M	81M	132.67M	116.5M	83.87M	129.65M
Operating Margin %	0.07%	0.07%	-0.16%	-0.19%	0.01%	0.13%	0.2%	0.18%	0.11%	0.13%
Operating Income Growth %	0.6%	0.27%	-2.89%	-0.07%	1.05%	16.89%	0.64%	-0.12%	-0.28%	0.55%
EBITDA+	107.97M	140.65M	22.4M	8.57M	83.35M	150.96M	189.9M	168.65M	151.12M	192.95M
EBITDA Margin %	0.2%	0.2%	0.04%	0.02%	0.16%	0.25%	0.28%	0.26%	0.21%	0.2%
EBITDA Growth %	0.38%	0.3%	-0.84%	-0.62%	8.73%	0.81%	0.26%	-0.11%	-0.1%	0.28%
D&A (Non-Cash Add-back)	70.59M	93.04M	112.38M	104.42M	78.83M	69.95M	57.23M	52.15M	67.25M	63.3M
EBIT	-3.14M	-20.65M	-123.9M	-387.35M	-14.18M	63.54M	247.42M	127.54M	96.66M	-23.51M
Net Interest Income+	-18.43M	-28.86M	-31.34M	-35.8M	-27.38M	-20.59M	-4.3M	8.42M	17.85M	24.34M
Interest Income	0	0	0	0	0	1.47M	4.25M	20.81M	22.99M	29.85M
Interest Expense	18.43M	28.86M	31.34M	35.8M	27.38M	22.06M	8.55M	12.38M	5.14M	5.52M
Other Income/Expense	-58.95M	-97.12M	-65.25M	-327.31M	-46.09M	-38.06M	110.45M	-1.34M	7.66M	-158.68M
Pretax Income+	-21.57M	-49.51M	-155.24M	-423.15M	-41.56M	42.95M	243.12M	115.16M	91.53M	-29.02M
Pretax Margin %	-0.04%	-0.07%	-0.27%	-0.85%	-0.08%	0.07%	0.36%	0.18%	0.13%	-0.03%
Income Tax+	-17.98M	100.91M	-21.47M	-39.35M	4.52M	4.97M	-196.84M	23.58M	14.67M	25.18M
Effective Tax Rate %	-0.07%	3.42%	0.9%	0.91%	1.11%	0.88%	1.81%	0.8%	0.84%	1.87%
Net Income+	1.43M	-169.49M	-139.98M	-383.8M	-46.08M	37.97M	439.95M	91.58M	76.86M	-54.21M
Net Margin %	0%	-0.24%	-0.25%	-0.77%	-0.09%	0.06%	0.65%	0.14%	0.11%	-0.06%
Net Income Growth %	-0.97%	-119.2%	0.17%	-1.74%	0.88%	1.82%	10.59%	-0.79%	-0.16%	-1.71%
Net Income (Continuing)	-3.59M	-150.42M	-133.76M	-383.8M	-46.08M	37.97M	439.95M	91.58M	76.86M	-54.21M
Discontinued Operations	5.02M	-19.08M	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.03	-2.79	-2.14	-5.88	-0.69	0.54	6.18	1.28	1.04	-0.73
EPS Growth %	-0.97%	-94%	0.23%	-1.75%	0.88%	1.78%	10.44%	-0.79%	-0.19%	-1.7%
EPS (Basic)	0.03	-2.79	-2.16	-5.88	-0.69	0.55	6.30	1.29	1.07	-0.73
Diluted Shares Outstanding	53.36M	60.7M	65.31M	65.69M	66.61M	70.47M	71.17M	71.5M	73.58M	73.99M
Basic Shares Outstanding	51.26M	60.65M	64.74M	65.69M	66.61M	68.45M	69.78M	70.8M	71.96M	73.99M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Oct 2025
Total Current Assets+	612.94M	562.9M	458.86M	398.58M	481.52M	521.54M	813.08M	761.19M	903.08M	1.21B
Cash & Short-Term Investments	356.75M	214.22M	192.9M	176.75M	333.15M	344.9M	586.53M	514.53M	581.89M	785.98M
Cash Only	332.98M	130.1M	94.68M	75.52M	129.44M	156.54M	119.95M	173.95M	146.81M	112.14M
Short-Term Investments	23.78M	84.12M	98.22M	101.23M	203.71M	188.37M	466.58M	340.57M	435.08M	673.83M
Accounts Receivable	129.94M	154.59M	114.98M	86.45M	45.88M	84.57M	101.55M	91.25M	105.7M	148.65M
Days Sales Outstanding	87.13	80.75	73.57	63.15	31.6	50.86	54.9	51.37	52.88	56.09
Inventory	114.94M	136.07M	122.84M	107.88M	91.58M	82.7M	114.96M	136.3M	194.49M	237.84M
Days Inventory Outstanding	148.31	136.39	120.28	121.58	114.19	101.98	142.44	173.74	198.19	199.19
Other Current Assets	0	35.57M	4.84M	0	0	0	0	19.11M	21M	32.62M
Total Non-Current Assets+	575.61M	1.07B	1.02B	704.59M	664.91M	612.61M	758.73M	792.05M	852.56M	898.27M
Property, Plant & Equipment	99.17M	131.02M	149.92M	132.65M	118.87M	120.53M	123.7M	149.5M	176.02M	230.29M
Fixed Asset Turnover	5.49x	5.33x	3.80x	3.77x	4.46x	5.04x	5.46x	4.34x	4.14x	4.20x
Goodwill	120.02M	313.76M	314.08M	314.73M	315.01M	314.24M	311.42M	323.4M	332.2M	336.31M
Intangible Assets	259.6M	621.09M	512.78M	181.23M	130.9M	84.69M	51.25M	66.99M	76.09M	78.57M
Long-Term Investments	0	0	31.09M	23.61M	17.75M	15.34M	2.5M	0	0	0
Other Non-Current Assets	7.21M	7.4M	13.48M	10.96M	40.45M	38.3M	32.45M	34.06M	55.76M	45.1M
Total Assets+	1.19B	1.64B	1.48B	1.1B	1.15B	1.13B	1.57B	1.55B	1.76B	2.1B
Asset Turnover	0.46x	0.43x	0.38x	0.45x	0.46x	0.54x	0.43x	0.42x	0.42x	0.46x
Asset Growth %	0.37%	0.38%	-0.09%	-0.26%	0.04%	-0.01%	0.39%	-0.01%	0.13%	0.2%
Total Current Liabilities+	92.15M	117.12M	107M	74.84M	94.95M	93.04M	97.21M	83.53M	108.18M	325.12M
Accounts Payable	30.58M	47.04M	41.95M	24.82M	23.04M	28.71M	30.73M	24.97M	43.2M	67.59M
Days Payables Outstanding	39.46	47.15	41.08	27.97	28.73	35.41	38.08	31.82	44.02	56.6
Short-Term Debt	7.2M	6.88M	6.88M	6.88M	6.88M	0	0	0	0	160.95M
Deferred Revenue (Current)	-1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	34.68M	23.7M	26.59M	18.22M	32.25M	33.47M	34.86M	26.93M	30.77M	48.24M
Current Ratio	6.65x	4.81x	4.29x	5.33x	5.07x	5.61x	8.36x	9.11x	8.35x	3.71x
Quick Ratio	5.40x	3.64x	3.14x	3.88x	4.11x	4.72x	7.18x	7.48x	6.55x	2.98x
Cash Conversion Cycle	195.98	169.99	152.78	156.75	117.06	117.44	159.26	193.28	207.05	198.68
Total Non-Current Liabilities+	633.62M	742.63M	706.82M	716.84M	751.33M	569.37M	631.86M	522.12M	521.11M	451.15M
Long-Term Debt	573.88M	661.47M	658.37M	655.27M	652.17M	492.1M	565.92M	447.13M	448.28M	339.63M
Capital Lease Obligations	2.46M	17.27M	29.02M	29.51M	28.99M	28.04M	27.03M	31.78M	31.13M	30.5M
Deferred Tax Liabilities	11.77M	15.17M	389K	632K	0	0	0	0	0	0
Other Non-Current Liabilities	45.51M	33.54M	18.64M	31.43M	70.17M	49.23M	38.9M	43.21M	41.7M	81.01M
Total Liabilities	725.77M	859.75M	813.82M	791.68M	846.28M	662.41M	729.07M	605.64M	629.3M	776.26M
Total Debt+	583.55M	686.45M	694.75M	692.75M	697.02M	528.55M	600.43M	487.33M	487.78M	537.99M
Net Debt	250.57M	556.34M	600.07M	617.23M	567.58M	372.01M	480.48M	313.38M	340.98M	425.85M
Debt / Equity	1.26x	0.88x	1.04x	2.22x	2.32x	1.12x	0.71x	0.51x	0.43x	0.41x
Debt / EBITDA	5.40x	4.88x	31.01x	80.82x	8.36x	3.50x	3.16x	2.89x	3.23x	2.79x
Net Debt / EBITDA	2.32x	3.96x	26.79x	72.01x	6.81x	2.46x	2.53x	1.86x	2.26x	2.21x
Interest Coverage	2.03x	1.65x	-2.87x	-2.68x	0.17x	3.67x	15.52x	9.41x	16.33x	23.50x
Total Equity+	462.78M	777.37M	668.67M	311.49M	300.15M	471.74M	842.75M	947.6M	1.13B	1.33B
Equity Growth %	0.09%	0.68%	-0.14%	-0.53%	-0.04%	0.57%	0.79%	0.12%	0.19%	0.18%
Book Value per Share	8.67	12.81	10.24	4.74	4.51	6.69	11.84	13.25	15.31	17.94
Total Shareholders' Equity	462.78M	777.37M	668.67M	311.49M	300.15M	471.74M	842.75M	947.6M	1.13B	1.33B
Common Stock	54K	64K	65K	66K	67K	69K	70K	71K	72K	74K
Retained Earnings	-97.49M	-266.98M	-407.98M	-791.77M	-839.73M	-801.75M	-354.29M	-262.71M	-185.85M	-240.06M
Treasury Stock	-330K	-330K	-330K	-330K	-330K	-330K	-330K	-330K	-330K	-330K
Accumulated OCI	9.04M	2.98M	2.19M	4.36M	5.01M	4.15M	-5.85M	-3.63M	2.5M	5.03M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Oct 2025
Cash from Operations+	79.23M	61.05M	36.29M	20.7M	171.4M	148.41M	176.98M	166.92M	162.64M	235.37M
Operating CF Margin %	0.15%	0.09%	0.06%	0.04%	0.32%	0.24%	0.26%	0.26%	0.22%	0.24%
Operating CF Growth %	1.35%	-0.23%	-0.41%	-0.43%	7.28%	-0.13%	0.19%	-0.06%	-0.03%	0.45%
Net Income	1.43M	-169.49M	-139.98M	-386.2M	-46.08M	37.97M	439.95M	91.58M	76.86M	-54.21M
Depreciation & Amortization	70.59M	93M	112.38M	104.42M	78.83M	69.95M	57.23M	52.15M	67.25M	63.3M
Stock-Based Compensation	26.95M	36.34M	31.94M	23.79M	35.67M	35M	41.19M	38.1M	45.64M	86.14M
Deferred Taxes	-9.94M	92.17M	-16.53M	-38.89M	3.34M	2.52M	-200.43M	19.8M	4.95M	2.64M
Other Non-Cash Items	31.2M	31.87M	25.88M	284.54M	24.12M	28.89M	-114.26M	-6.95M	-1.03M	175.3M
Working Capital Changes	-41.02M	-22.83M	22.6M	33.04M	75.52M	-25.93M	-46.69M	-27.77M	-31.03M	-37.79M
Change in Receivables	-17.21M	-15.75M	38.68M	27.59M	23.91M	-38.69M	-16.98M	12.25M	-16.8M	-41.98M
Change in Inventory	-24.71M	-4.09M	-2.17M	14.96M	16.3M	8.89M	-32.26M	-10.57M	-30.23M	-26.56M
Change in Payables	-1.07M	3.45M	-2.61M	-12.22M	-1.6M	5.81M	2.38M	-21.32M	18.23M	22.21M
Cash from Investing+	-94.86M	-337.57M	-67.12M	-33.89M	-107.19M	-2.58M	-182.86M	36.34M	-181.13M	-328.26M
Capital Expenditures	-32.1M	-32.8M	-53.04M	-37.96M	-17.57M	-17.95M	-26.51M	-24.7M	-22.44M	-42.55M
CapEx % of Revenue	0.06%	0.05%	0.09%	0.08%	0.03%	0.03%	0.04%	0.04%	0.03%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	43.82M	-18.82M	-94.36M	-173.02M	-183.46M	284K	-244.62M	-507.82M	-4.33M	-40.82M
Cash from Financing+	227.35M	73.65M	-4.45M	-5.83M	-10.72M	-119.09M	-28.91M	-149.02M	-9.06M	58.1M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.8M	1.51M	5.97M	-578K	4.58M	1.03M	8.05M	5.57M	6.59M	-14.38M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	47.13M	28.25M	-16.75M	-17.26M	153.82M	130.46M	150.47M	142.22M	140.2M	192.82M
FCF Margin %	0.09%	0.04%	-0.03%	-0.03%	0.29%	0.21%	0.22%	0.22%	0.19%	0.2%
FCF Growth %	6.95%	-0.4%	-1.59%	-0.03%	9.91%	-0.15%	0.15%	-0.05%	-0.01%	0.38%
FCF per Share	0.88	0.47	-0.26	-0.26	2.31	1.85	2.11	1.99	1.91	2.61
FCF Conversion (FCF/Net Income)	55.25x	-0.36x	-0.26x	-0.05x	-3.72x	3.91x	0.40x	1.82x	2.12x	-4.34x
Interest Paid	0	0	0	0	0	11.84M	6.74M	10.78M	3.98M	0
Taxes Paid	0	0	0	0	0	1.62M	2.19M	2.87M	6M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	0.32%	-27.33%	-19.36%	-78.31%	-15.07%	9.84%	66.94%	10.23%	7.41%	-4.42%
Return on Invested Capital (ROIC)	4.12%	3.49%	-5.19%	-6.54%	0.38%	7.1%	9.18%	6.76%	4.61%	6.04%
Gross Margin	48.03%	47.89%	34.65%	35.19%	44.77%	51.23%	56.37%	55.84%	50.91%	54.94%
Net Margin	0.26%	-24.26%	-24.54%	-76.8%	-8.69%	6.26%	65.16%	14.12%	10.53%	-5.6%
Debt / Equity	1.26x	0.88x	1.04x	2.22x	2.32x	1.12x	0.71x	0.51x	0.43x	0.41x
Interest Coverage	2.03x	1.65x	-2.87x	-2.68x	0.17x	3.67x	15.52x	9.41x	16.33x	23.50x
FCF Conversion	55.25x	-0.36x	-0.26x	-0.05x	-3.72x	3.91x	0.40x	1.82x	2.12x	-4.34x
Revenue Growth	29.42%	28.37%	-18.37%	-12.39%	6.07%	14.51%	11.25%	-3.96%	12.52%	32.58%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	152.97M	156M	265.04M	272.95M	239.51M	217.47M	277.85M	315.28M	313.35M	327.68M
UNITED STATES Growth	-	1.98%	69.90%	2.99%	-12.25%	-9.20%	27.76%	13.47%	-0.61%	4.57%
CHINA	92.49M	-	206.14M	159.76M	132.33M	192.99M	165.93M	175.98M	129.88M	177.7M
CHINA Growth	-	-	-	-22.50%	-17.17%	45.84%	-14.02%	6.05%	-26.20%	36.82%
Other Countries	118.72M	41.67M	56.77M	58.1M	47.73M	34.58M	69.57M	76.8M	114.51M	134.91M
Other Countries Growth	-	-64.90%	36.24%	2.34%	-17.85%	-27.56%	101.19%	10.40%	49.09%	17.82%
Asia Pacific	-	346.67M	170.83M	79.58M	80.14M	85M	93.57M	107.11M	90.67M	89.29M
Asia Pacific Growth	-	-	-50.72%	-53.41%	0.70%	6.07%	10.09%	14.47%	-15.35%	-1.52%
TAIWAN, PROVINCE OF CHINA	56.42M	-	-	-	-	-	-	-	-	-
TAIWAN, PROVINCE OF CHINA Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

MACOM Technology Solutions Holdings, Inc. (MTSI) reported $967.3M in revenue for fiscal year 2025. This represents a 220% increase from $302.2M in 2012.

MACOM Technology Solutions Holdings, Inc. (MTSI) grew revenue by 32.6% over the past year. This is strong growth.

MACOM Technology Solutions Holdings, Inc. (MTSI) reported a net loss of $54.2M for fiscal year 2025.

Dividend & Returns

MACOM Technology Solutions Holdings, Inc. (MTSI) has a return on equity (ROE) of -4.4%. Negative ROE indicates the company is unprofitable.

MACOM Technology Solutions Holdings, Inc. (MTSI) generated $164.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.