NASDAQ : MRVL
Marvell Technology, Inc. — Financial statements
Technology · Semiconductors · United States
Last price 218.34 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 191.47B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Marvell Technology, Inc. (MRVL) reported revenue of 9.45B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 9.45B | 8.19B | 5.77B | 5.51B | 5.92B | 4.46B |
| Cost of Revenue | 4.52B | 4.01B | 3.03B | 3.21B | 2.89B | 2.20B |
| Gross Profit | 4.93B | 4.18B | 2.74B | 2.29B | 3.03B | 2.26B |
| Selling, General & Admin | 903.90M | 767.10M | 798.20M | 834.00M | 843.60M | 892.60M |
| Research & Development | 2.44B | 2.08B | 1.95B | 1.90B | 1.78B | 1.42B |
| Operating Expenses | 3.35B | 2.84B | 2.75B | 2.73B | 2.63B | 2.32B |
| Operating Income | 1.59B | 1.34B | -8.50M | -436.60M | 398.30M | -59.10M |
| Interest Expense | -216.40M | -202.60M | -189.40M | -211.70M | -170.60M | -139.30M |
| Interest & Investment Income | 95.90M | 95.90M | 15.00M | 20.70M | 17.70M | 800.00K |
| Other Non Operating Income (Expenses) | 221.10M | 2.70M | ||||
| EBT Excluding Unusual Items | 1.69B | 1.23B | -182.90M | -627.60M | 245.40M | -194.90M |
| Merger & Restructuring Charges | -27.50M | -16.00M | -711.80M | -131.10M | -60.30M | -288.60M |
| Gain (Loss) on Sale of Assets | 1.83B | 1.83B | ||||
| Legal Settlements | -100.00M | |||||
| Pretax Income | 3.06B | 3.05B | -894.70M | -758.70M | 85.10M | -483.50M |
| Income Tax Expense | 418.70M | 376.50M | -9.70M | 174.70M | 248.60M | -62.50M |
| Earnings From Continuing Operations | 2.64B | 2.67B | -885.00M | -933.40M | -163.50M | -421.00M |
| Net Income | 2.64B | 2.67B | -885.00M | -933.40M | -163.50M | -421.00M |
| Net Income to Common | 2.64B | 2.67B | -885.00M | -933.40M | -163.50M | -421.00M |
| Shares Outstanding (Basic) | 873.95M | 861.00M | 865.50M | 861.30M | 851.40M | 796.90M |
| Shares Outstanding (Diluted) | 886.75M | 869.70M | 865.50M | 861.30M | 851.40M | 796.90M |
| EPS (Basic) | 3.02 | 3.10 | -1.02 | -1.08 | -0.19 | -0.53 |
| EPS (Diluted) | 2.98 | 3.07 | -1.02 | -1.08 | -0.19 | -0.53 |
| Free Cash Flow | 1.73B | 1.40B | 1.40B | 1.03B | 1.08B | 650.10M |
| Free Cash Flow Per Share | 1.95 | 1.61 | 1.61 | 1.20 | 1.27 | 0.82 |
| Dividend Per Share | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 |
| Gross Margin | 52.22% | 51.02% | 47.51% | 41.64% | 51.12% | 50.59% |
| Operating Margin | 16.81% | 16.34% | -0.15% | -7.93% | 6.73% | -1.32% |
| Profit Margin | 27.93% | 32.58% | -15.35% | -16.95% | -2.76% | -9.43% |
| Free Cash Flow Margin | 18.31% | 17.04% | 24.22% | 18.78% | 18.29% | 14.57% |
| EBITDA | 2.85B | 2.63B | 1.35B | 961.10M | 1.79B | 1.19B |
| EBITDA Margin | 30.16% | 32.09% | 23.38% | 17.45% | 30.25% | 26.58% |
| D&A For EBITDA | 1.26B | 1.29B | 1.36B | 1.40B | 1.39B | 1.25B |
| EBIT | 1.59B | 1.34B | -8.50M | -436.60M | 398.30M | -59.10M |
| EBIT Margin | 16.81% | 16.34% | -0.15% | -7.93% | 6.73% | -1.32% |
| Effective Tax Rate | 13.69% | 12.36% | 292.13% |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.93B | 2.64B | 948.30M | 950.80M | 911.00M | 613.50M |
| Cash & Short-Term Investments | 3.93B | 2.64B | 948.30M | 950.80M | 911.00M | 613.50M |
| Accounts Receivable | 2.22B | 2.19B | 1.03B | 1.12B | 1.19B | 1.05B |
| Other Receivables | 107.30M | |||||
| Receivables | 2.22B | 2.29B | 1.03B | 1.12B | 1.19B | 1.05B |
| Inventory | 1.36B | 1.39B | 1.03B | 864.40M | 1.07B | 720.30M |
| Prepaid Expenses | 276.50M | 139.90M | 113.40M | 124.70M | 109.60M | 111.00M |
| Other Current Assets | 131.00M | 500.00K | 1.20M | |||
| Total Current Assets | 7.92B | 6.46B | 3.12B | 3.06B | 3.28B | 2.49B |
| Property, Plant & Equipment | 1.36B | 1.22B | 1.04B | 959.60M | 788.70M | 604.80M |
| Long-Term Investments | 156.20M | 129.60M | 48.20M | 45.80M | 36.10M | 30.70M |
| Goodwill | 13.87B | 11.06B | 11.59B | 11.59B | 11.59B | 11.51B |
| Other Intangible Assets | 2.60B | 2.05B | 3.11B | 4.35B | 5.54B | 6.64B |
| Long-Term Deferred Tax Assets | 322.30M | 345.90M | 401.20M | 311.90M | 465.90M | 493.50M |
| Other Long-Term Assets | 1.32B | 1.02B | 899.50M | 906.90M | 821.90M | 331.50M |
| Total Assets | 27.55B | 22.29B | 20.20B | 21.23B | 22.52B | 22.11B |
| Accounts Payable | 797.90M | 1.07B | 622.20M | 411.30M | 465.80M | 461.50M |
| Accrued Expenses | 547.40M | 469.00M | 437.90M | 364.50M | 312.80M | 340.90M |
| Current Portion of Long-Term Debt | 499.80M | 129.50M | 107.30M | 584.40M | 63.20M | |
| Current Portion of Leases | 59.30M | 56.50M | 48.30M | 39.40M | 43.80M | 38.20M |
| Current Income Taxes Payable | 163.70M | 228.30M | 55.60M | 17.80M | 118.40M | 23.30M |
| Current Unearned Revenue | 40.10M | 22.10M | 43.20M | 45.20M | 39.00M | |
| Other Current Liabilities | 931.20M | 853.00M | 711.20M | 830.70M | 816.30M | 422.50M |
| Total Current Liabilities | 2.50B | 3.22B | 2.03B | 1.81B | 2.39B | 1.39B |
| Long-Term Debt | 4.96B | 3.97B | 3.93B | 4.06B | 3.91B | 4.48B |
| Long-Term Leases | 263.90M | 263.20M | 231.00M | 196.00M | 201.60M | 140.30M |
| Long-Term Deferred Tax Liabilities | 125.00M | 20.50M | 33.80M | 58.70M | 64.20M | 34.50M |
| Other Long-Term Liabilities | 1.17B | 501.90M | 551.60M | 269.60M | 324.70M | 358.30M |
| Total Liabilities | 9.02B | 7.98B | 6.78B | 6.40B | 6.88B | 6.41B |
| Common Stock | 1.80M | 1.70M | 1.70M | 1.70M | 1.70M | 1.70M |
| Additional Paid-In Capital | 16.94B | 12.95B | 14.53B | 14.85B | 14.51B | 14.21B |
| Retained Earnings | 1.59B | 1.36B | -1.11B | -16.70M | 1.12B | 1.49B |
| Comprehensive Income & Other | 400.00K | 1.10M | ||||
| Shareholders' Equity | 18.53B | 14.31B | 13.43B | 14.83B | 15.64B | 15.70B |
| Total Liabilities & Equity | 27.55B | 22.29B | 20.20B | 21.23B | 22.52B | 22.11B |
| Total Debt | 5.29B | 4.79B | 4.34B | 4.40B | 4.74B | 4.73B |
| Net Cash (Debt) | -1.35B | -2.15B | -3.39B | -3.45B | -3.83B | -4.11B |
| Net Cash Per Share | -1.53 | -2.47 | -3.92 | -4.01 | -4.49 | -5.16 |
| Filing Date Shares Outstanding | 876.90M | 874.30M | 866.10M | 866.00M | 856.90M | 847.80M |
| Total Common Shares Outstanding | 876.80M | 847.30M | 866.00M | 865.50M | 856.10M | 846.70M |
| Working Capital | 5.42B | 3.24B | 1.09B | 1.25B | 894.40M | 1.10B |
| Book Value Per Share | 21.14 | 16.89 | 15.50 | 17.14 | 18.27 | 18.55 |
| Tangible Book Value | 2.05B | 1.20B | -1.27B | -1.11B | -1.49B | -2.45B |
| Tangible Book Value Per Share | 2.34 | 1.41 | -1.47 | -1.28 | -1.74 | -2.90 |
| Land | 349.90M | 338.80M | 306.60M | 312.40M | 306.20M | 293.60M |
| Machinery | 2.10B | 1.87B | 1.60B | 1.41B | 1.11B | 925.50M |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 2.64B | 2.67B | -885.00M | -933.40M | -163.50M | -421.00M |
| Depreciation & Amortization | 1.31B | 1.33B | 1.39B | 1.43B | 1.42B | 1.27B |
| Other Amortization | 21.60M | |||||
| Loss (Gain) From Sale of Assets | -1.83B | -1.83B | ||||
| Asset Writedown & Restructuring Costs | -14.00M | 528.80M | 32.90M | 5.60M | 6.20M | |
| Stock-Based Compensation | 828.90M | 590.80M | 597.40M | 609.80M | 552.40M | 460.70M |
| Other Operating Activities | 435.40M | 107.30M | -80.30M | 168.50M | 119.30M | 140.50M |
| Change in Accounts Receivable | -766.60M | -1.16B | 93.20M | 70.60M | -142.70M | -409.00M |
| Change in Inventory | -298.40M | -389.80M | -230.00M | 201.90M | -385.90M | -291.90M |
| Change in Accounts Payable | 33.80M | 299.30M | 181.50M | -149.10M | -87.80M | 93.20M |
| Change in Other Net Operating Assets | -148.20M | 140.40M | 84.40M | -65.60M | -33.40M | -55.20M |
| Operating Cash Flow | 2.20B | 1.75B | 1.68B | 1.37B | 1.29B | 819.30M |
| Capital Expenditures | -470.20M | -354.10M | -284.60M | -336.30M | -206.20M | -169.20M |
| Sale of Property, Plant & Equipment | 100.00K | 27.40M | 500.00K | 300.00K | ||
| Cash Acquisitions | -1.27B | -10.40M | -112.30M | -3.56B | ||
| Divestitures | 2.48B | 2.48B | ||||
| Sale (Purchase) of Intangibles | -7.30M | -4.50M | -7.00M | -13.90M | -11.10M | -17.70M |
| Other Investing Activities | -12.90M | -49.60M | 800.00K | -600.00K | 1.20M | -3.20M |
| Investing Cash Flow | 717.40M | 2.10B | -300.70M | -350.50M | -328.40M | -3.75B |
| Long-Term Debt Issued | 1.20B | 1.30B | 200.00M | 3.90B | ||
| Long-Term Debt Repaid | -790.60M | -109.40M | -1.62B | -265.60M | -708.00M | |
| Net Debt Issued (Repaid) | 498.90M | 408.00M | -109.40M | -327.20M | -65.60M | 3.19B |
| Issuance of Common Stock | 85.10M | 78.70M | 87.60M | 99.20M | 91.30M | 84.50M |
| Repurchase of Common Stock | -2.41B | -2.28B | -999.90M | -373.70M | -342.60M | -305.80M |
| Common Dividends Paid | -209.30M | -205.10M | -207.50M | -206.80M | -204.40M | -191.00M |
| Other Financing Activities | -178.90M | -158.60M | -153.80M | -171.70M | -141.60M | 15.00M |
| Financing Cash Flow | -209.30M | -2.16B | -1.38B | -980.20M | -662.90M | 2.79B |
| Net Cash Flow | 2.71B | 1.69B | -2.50M | 39.80M | 297.50M | -135.00M |
| Free Cash Flow | 1.73B | 1.40B | 1.40B | 1.03B | 1.08B | 650.10M |
| Free Cash Flow Margin | 18.31% | 17.04% | 24.22% | 18.78% | 18.29% | 14.57% |
| Free Cash Flow Per Share | 1.95 | 1.61 | 1.61 | 1.20 | 1.27 | 0.82 |
| Levered Free Cash Flow | 2.41B | 1.44B | 1.69B | 1.46B | 1.88B | 893.38M |
| Unlevered Free Cash Flow | 2.54B | 1.57B | 1.81B | 1.59B | 1.99B | 958.85M |
| Cash Interest Paid | 177.70M | 177.70M | 173.40M | 173.70M | 147.90M | 91.20M |
| Cash Income Tax Paid | 92.10M | 92.10M | 40.10M | 120.60M | 95.90M | 7.90M |
| Change in Working Capital | -1.18B | -1.11B | 129.10M | 57.80M | -649.80M | -662.90M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 172.23B | 66.93B | 97.66B | 58.38B | 37.75B | 55.96B |
| Enterprise Value | 173.58B | 69.00B | 101.13B | 62.08B | 41.77B | 60.19B |
| Last Close Price | 196.40 | 78.84 | 112.38 | 67.04 | 43.72 | 65.19 |
| PE Ratio | 65.99 | 25.07 | ||||
| Forward PE | 34.76 | 23.66 | 43.66 | 36.15 | 23.54 | 31.80 |
| PS Ratio | 18.22 | 8.17 | 16.93 | 10.60 | 6.38 | 12.54 |
| PB Ratio | 9.29 | 4.68 | 7.27 | 3.94 | 2.41 | 3.56 |
| P/TBV Ratio | 83.84 | 56.00 | ||||
| P/FCF Ratio | 99.55 | 47.93 | 69.92 | 56.45 | 34.87 | 86.08 |
| P/OCF Ratio | 78.27 | 38.24 | 58.09 | 42.60 | 29.29 | 68.30 |
| PEG Ratio | 0.62 | 0.58 | 1.16 | 2.59 | 1.20 | 0.80 |
| EV/Sales Ratio | 18.37 | 8.42 | 17.54 | 11.27 | 7.06 | 13.49 |
| EV/EBITDA Ratio | 60.90 | 26.24 | 75.00 | 64.59 | 23.33 | 50.74 |
| EV/EBIT Ratio | 109.25 | 51.53 | 104.88 | |||
| EV/FCF Ratio | 100.33 | 49.41 | 72.41 | 60.02 | 38.59 | 92.58 |
| Debt / Equity Ratio | 0.28 | 0.34 | 0.32 | 0.30 | 0.30 | 0.30 |
| Debt / EBITDA Ratio | 1.80 | 1.77 | 3.09 | 4.30 | 2.57 | 3.79 |
| Debt / FCF Ratio | 3.06 | 3.43 | 3.11 | 4.26 | 4.38 | 7.27 |
| Net Debt / Equity Ratio | 0.07 | 0.15 | 0.25 | 0.23 | 0.24 | 0.26 |
| Net Debt / EBITDA Ratio | 0.47 | 0.82 | 2.52 | 3.59 | 2.14 | 3.47 |
| Net Debt / FCF Ratio | 0.78 | 1.54 | 2.43 | 3.34 | 3.54 | 6.33 |
| Asset Turnover | 0.39 | 0.39 | 0.28 | 0.25 | 0.27 | 0.27 |
| Inventory Turnover | 3.74 | 3.32 | 3.20 | 3.33 | 3.23 | 4.46 |
| Quick Ratio | 2.46 | 1.53 | 0.97 | 1.14 | 0.88 | 1.20 |
| Current Ratio | 3.17 | 2.01 | 1.54 | 1.69 | 1.38 | 1.80 |
| Return on Equity (ROE) | 16.52% | 19.25% | -6.26% | -6.13% | -1.04% | -3.49% |
| Return on Assets (ROA) | 4.12% | 3.94% | -0.03% | -1.25% | 1.12% | -0.22% |
| Return on Invested Capital (ROIC) | 6.94% | 7.05% | -0.05% | -2.31% | -3.90% | -0.41% |
| Return on Capital Employed (ROCE) | 6.30% | 7.00% | 0.00% | -2.20% | 2.00% | -0.30% |
| Earnings Yield | 1.52% | 3.99% | -0.91% | -1.60% | -0.43% | -0.75% |
| FCF Yield | 1.00% | 2.09% | 1.43% | 1.77% | 2.87% | 1.16% |
| Dividend Yield | 0.12% | 0.30% | 0.21% | 0.36% | 0.54% | 0.36% |
| Payout Ratio | 8.06% | 7.68% | ||||
| Buyback Yield / Dilution | -2.56% | -0.48% | -0.49% | -1.16% | -6.84% | -19.15% |
| Total Shareholder Return | -2.43% | -0.18% | -0.27% | -0.81% | -6.30% | -18.79% |