NASDAQ : MXL
MaxLinear, Inc. — Financial statements
Technology · Semiconductors · United States
Last price 67.47 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 6.14B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
MaxLinear, Inc. (MXL) reported revenue of 660.53M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 660.53M | 467.64M | 360.53M | 693.26M | 1.12B | 892.40M |
| Cost of Revenue | 277.35M | 201.83M | 165.75M | 307.60M | 470.48M | 396.57M |
| Gross Profit | 383.17M | 265.81M | 194.78M | 385.66M | 649.77M | 495.83M |
| Selling, General & Admin | 167.11M | 159.58M | 138.33M | 132.16M | 168.01M | 149.94M |
| Research & Development | 221.53M | 208.60M | 225.19M | 269.50M | 296.44M | 278.44M |
| Operating Expenses | 388.64M | 368.18M | 363.52M | 401.66M | 464.45M | 428.38M |
| Operating Income | -5.46M | -102.36M | -168.74M | -16.00M | 185.32M | 67.45M |
| Interest Expense | -9.55M | -10.06M | -10.87M | -10.70M | -9.77M | -13.00M |
| Interest & Investment Income | 2.41M | 3.38M | 6.39M | 6.05M | 245.00K | 78.00K |
| Other Non Operating Income (Expenses) | -934.00K | -6.63M | 3.12M | -1.31M | 1.58M | 764.00K |
| EBT Excluding Unusual Items | -13.54M | -115.67M | -170.10M | -21.95M | 177.38M | 55.30M |
| Merger & Restructuring Charges | -594.00K | -24.52M | -53.38M | -38.09M | -2.27M | -2.20M |
| Gain (Loss) on Sale of Investments | -700.00K | -700.00K | -14.00M | -1.33M | 1.90M | |
| Asset Writedown | -1.24M | -2.44M | -2.81M | |||
| Other Unusual Items | -5.22M | |||||
| Pretax Income | -14.84M | -140.89M | -238.72M | -63.81M | 174.20M | 47.87M |
| Income Tax Expense | 14.54M | -4.21M | 6.48M | 9.34M | 49.16M | 5.90M |
| Net Income | -29.37M | -136.68M | -245.20M | -73.15M | 125.04M | 41.97M |
| Net Income to Common | -29.37M | -136.68M | -245.20M | -73.15M | 125.04M | 41.97M |
| Shares Outstanding (Basic) | 88.93M | 86.59M | 83.60M | 80.72M | 78.04M | 76.04M |
| Shares Outstanding (Diluted) | 88.93M | 86.59M | 83.60M | 80.72M | 80.85M | 79.68M |
| EPS (Basic) | -0.33 | -1.58 | -2.93 | -0.91 | 1.60 | 0.55 |
| EPS (Diluted) | -0.33 | -1.58 | -2.93 | -0.91 | 1.55 | 0.53 |
| Free Cash Flow | -20.62M | 7.02M | -62.98M | 29.92M | 347.47M | 129.06M |
| Free Cash Flow Per Share | -0.23 | 0.08 | -0.75 | 0.37 | 4.30 | 1.62 |
| Gross Margin | 58.01% | 56.84% | 54.03% | 55.63% | 58.00% | 55.56% |
| Operating Margin | -0.83% | -21.89% | -46.80% | -2.31% | 16.54% | 7.56% |
| Profit Margin | -4.45% | -29.23% | -68.01% | -10.55% | 11.16% | 4.70% |
| Free Cash Flow Margin | -3.12% | 1.50% | -17.47% | 4.32% | 31.02% | 14.46% |
| EBITDA | 37.94M | -58.37M | -114.60M | 55.52M | 266.05M | 159.24M |
| EBITDA Margin | 5.74% | -12.48% | -31.79% | 8.01% | 23.75% | 17.84% |
| D&A For EBITDA | 43.40M | 43.99M | 54.14M | 71.52M | 80.73M | 91.79M |
| EBIT | -5.46M | -102.36M | -168.74M | -16.00M | 185.32M | 67.45M |
| EBIT Margin | -0.83% | -21.89% | -46.80% | -2.31% | 16.54% | 7.56% |
| Effective Tax Rate | 28.22% | 12.33% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 81.08M | 72.81M | 118.58M | 187.29M | 187.35M | 130.57M |
| Short-Term Investments | 18.53M | |||||
| Cash & Short-Term Investments | 81.08M | 72.81M | 118.58M | 187.29M | 205.88M | 130.57M |
| Accounts Receivable | 73.38M | 46.12M | 85.46M | 170.62M | 170.97M | 119.72M |
| Receivables | 73.38M | 46.12M | 85.46M | 170.62M | 170.97M | 119.72M |
| Inventory | 113.72M | 78.10M | 90.34M | 99.91M | 160.54M | 131.70M |
| Prepaid Expenses | 121.65M | 50.39M | 28.06M | 29.16M | 24.75M | 22.00M |
| Restricted Cash | 1.36M | 1.42M | 1.00M | 1.05M | 982.00K | 105.00K |
| Total Current Assets | 391.19M | 248.84M | 323.44M | 488.02M | 563.12M | 404.10M |
| Property, Plant & Equipment | 59.37M | 64.38M | 77.48M | 97.69M | 107.53M | 88.19M |
| Long-Term Investments | 11.80M | 11.80M | 5.00M | |||
| Goodwill | 318.59M | 318.59M | 318.59M | 318.59M | 306.74M | 306.67M |
| Other Intangible Assets | 44.05M | 48.89M | 55.01M | 73.63M | 109.32M | 152.54M |
| Long-Term Deferred Tax Assets | 65.42M | 77.27M | 68.66M | 69.49M | 66.49M | 89.17M |
| Other Long-Term Assets | 37.81M | 38.43M | 21.45M | 21.03M | 5.02M | 4.71M |
| Total Assets | 916.43M | 796.40M | 864.64M | 1.08B | 1.18B | 1.05B |
| Accounts Payable | 36.47M | 37.92M | 31.38M | 21.55M | 68.58M | 52.98M |
| Accrued Expenses | 95.66M | 95.41M | 78.45M | 113.15M | 188.05M | 113.15M |
| Current Portion of Leases | 8.17M | 9.10M | 9.41M | 9.13M | 10.49M | 8.89M |
| Current Income Taxes Payable | 444.00K | 511.00K | 745.00K | 521.00K | 8.89M | 7.11M |
| Current Unearned Revenue | 284.00K | 4.22M | 114.00K | 1.60M | 1.07M | 1.04M |
| Other Current Liabilities | 35.39M | 38.87M | 62.18M | 76.17M | 64.00M | 24.23M |
| Total Current Liabilities | 176.42M | 186.02M | 182.28M | 222.13M | 341.09M | 207.40M |
| Long-Term Debt | 164.06M | 123.62M | 123.00M | 122.38M | 121.76M | 306.15M |
| Long-Term Leases | 13.78M | 12.31M | 16.95M | 26.24M | 23.35M | 24.64M |
| Pension & Post-Retirement Benefits | 315.00K | 430.00K | 1.38M | 1.68M | 4.54M | |
| Other Long-Term Liabilities | 29.16M | 22.23M | 25.69M | 21.86M | 15.77M | 18.46M |
| Total Liabilities | 383.42M | 344.50M | 348.36M | 393.99M | 503.64M | 561.19M |
| Common Stock | 9.00K | 9.00K | 8.00K | 8.00K | 8.00K | 8.00K |
| Additional Paid-In Capital | 1.05B | 951.26M | 886.82M | 808.58M | 722.78M | 657.49M |
| Retained Earnings | -514.88M | -500.41M | -363.73M | -118.53M | -45.38M | -170.42M |
| Comprehensive Income & Other | 641.00K | 1.03M | -6.82M | -3.79M | -1.02M | 2.12M |
| Shareholders' Equity | 533.01M | 451.89M | 516.28M | 686.26M | 676.38M | 489.20M |
| Total Liabilities & Equity | 916.43M | 796.40M | 864.64M | 1.08B | 1.18B | 1.05B |
| Total Debt | 186.00M | 145.03M | 149.36M | 157.75M | 155.60M | 339.68M |
| Net Cash (Debt) | -104.92M | -72.22M | -30.79M | 29.54M | 50.28M | -209.11M |
| Net Cash Per Share | -1.18 | -0.83 | -0.37 | 0.37 | 0.62 | -2.62 |
| Filing Date Shares Outstanding | 91.00M | 86.45M | 84.63M | 81.93M | 78.75M | 76.78M |
| Total Common Shares Outstanding | 91.00M | 86.45M | 84.61M | 81.82M | 78.75M | 76.78M |
| Working Capital | 214.77M | 62.82M | 141.16M | 265.90M | 222.04M | 196.71M |
| Book Value Per Share | 5.86 | 5.23 | 6.10 | 8.39 | 8.59 | 6.37 |
| Tangible Book Value | 170.38M | 84.42M | 142.69M | 294.05M | 260.33M | 29.99M |
| Tangible Book Value Per Share | 1.87 | 0.98 | 1.69 | 3.59 | 3.31 | 0.39 |
| Machinery | 96.48M | 91.05M | 84.74M | 80.73M | 78.18M | 68.92M |
| Construction In Progress | 2.17M | 2.52M | 898.00K | 348.00K | 7.60M | 4.65M |
| Leasehold Improvements | 35.42M | 35.63M | 34.98M | 35.87M | 34.24M | 30.89M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -29.37M | -136.68M | -245.20M | -73.15M | 125.04M | 41.97M |
| Depreciation & Amortization | 43.40M | 43.99M | 54.14M | 71.52M | 80.73M | 91.79M |
| Other Amortization | 1.77M | 1.93M | 2.54M | 2.56M | 1.98M | 3.00M |
| Loss (Gain) From Sale of Assets | 776.00K | 1.25M | 1.07M | 2.06M | 170.00K | 533.00K |
| Asset Writedown & Restructuring Costs | 233.00K | 427.00K | 6.79M | 2.44M | 3.27M | 655.00K |
| Loss (Gain) From Sale of Investments | 700.00K | 700.00K | 14.00M | 1.33M | -1.90M | |
| Stock-Based Compensation | 86.92M | 77.13M | 66.02M | 55.18M | 81.70M | 59.36M |
| Other Operating Activities | 8.77M | -2.96M | -982.00K | -2.98M | 21.62M | 2.62M |
| Change in Accounts Receivable | -20.45M | 39.34M | 85.16M | 1.41M | -50.88M | -51.69M |
| Change in Inventory | -27.39M | 12.24M | 9.56M | 60.64M | -28.84M | -33.69M |
| Change in Accounts Payable | 6.99M | -12.48M | -4.57M | -29.43M | 65.81M | 12.77M |
| Change in Other Net Operating Assets | -66.61M | -8.98M | -37.08M | -47.93M | 99.93M | 48.33M |
| Operating Cash Flow | -7.25M | 19.62M | -45.30M | 43.37M | 388.73M | 168.23M |
| Capital Expenditures | -13.37M | -12.60M | -17.68M | -13.45M | -41.25M | -39.18M |
| Cash Acquisitions | -13.32M | -40.00M | ||||
| Sale (Purchase) of Intangibles | -5.35M | -7.20M | -5.77M | -6.36M | -11.18M | -7.58M |
| Investment in Securities | 17.20M | -29.32M | -5.00M | |||
| Other Investing Activities | -2.00M | -10.00M | ||||
| Investing Cash Flow | -20.72M | -19.80M | -23.45M | -15.94M | -91.76M | -91.76M |
| Long-Term Debt Issued | 350.00M | |||||
| Long-Term Debt Repaid | -185.00M | -409.81M | ||||
| Net Debt Issued (Repaid) | 48.00M | -185.00M | -59.81M | |||
| Issuance of Common Stock | 5.20M | 3.56M | 4.09M | 4.56M | 5.01M | 8.78M |
| Repurchase of Common Stock | -27.54M | -22.22M | -2.81M | -12.59M | -60.41M | -36.70M |
| Other Financing Activities | -479.00K | -18.32M | -4.17M | |||
| Financing Cash Flow | 25.18M | -18.66M | 1.29M | -26.36M | -240.40M | -91.90M |
| Foreign Exchange Rate Adjustments | -611.00K | 644.00K | -1.30M | -1.08M | 56.00K | -2.87M |
| Net Cash Flow | -3.40M | -18.19M | -68.75M | -1.00K | 56.62M | -18.30M |
| Free Cash Flow | -20.62M | 7.02M | -62.98M | 29.92M | 347.47M | 129.06M |
| Free Cash Flow Margin | -3.12% | 1.50% | -17.47% | 4.32% | 31.02% | 14.46% |
| Free Cash Flow Per Share | -0.23 | 0.08 | -0.75 | 0.37 | 4.30 | 1.62 |
| Levered Free Cash Flow | -39.58M | 65.88M | 42.74M | 31.66M | 270.07M | 53.70M |
| Unlevered Free Cash Flow | -35.38M | 70.23M | 47.00M | 35.79M | 274.20M | 58.82M |
| Cash Interest Paid | 8.51M | 8.60M | 9.74M | 9.48M | 9.08M | 11.03M |
| Cash Income Tax Paid | 5.79M | 8.19M | 28.64M | 23.83M | 3.84M | |
| Change in Working Capital | -107.46M | 30.12M | 53.08M | -15.32M | 86.03M | -24.28M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.93B | 1.52B | 1.67B | 1.94B | 2.67B | 5.79B |
| Enterprise Value | 6.03B | 1.56B | 1.67B | 1.90B | 2.67B | 5.97B |
| Last Close Price | 67.47 | 17.43 | 19.78 | 23.77 | 33.95 | 75.39 |
| PE Ratio | 21.33 | 137.84 | ||||
| Forward PE | 16.78 | 25.06 | 152.51 | 51.43 | 8.59 | 23.80 |
| PS Ratio | 9.30 | 3.26 | 4.63 | 2.80 | 2.38 | 6.48 |
| PB Ratio | 11.52 | 3.37 | 3.23 | 2.83 | 3.94 | 11.83 |
| P/TBV Ratio | 36.04 | 18.04 | 11.70 | 6.59 | 10.25 | 192.90 |
| P/FCF Ratio | 216.91 | 64.80 | 7.68 | 44.83 | ||
| P/OCF Ratio | 77.62 | 44.70 | 6.86 | 34.39 | ||
| PEG Ratio | 0.20 | 4.27 | 197.44 | 15.60 | 0.27 | 0.66 |
| EV/Sales Ratio | 9.45 | 3.33 | 4.64 | 2.73 | 2.39 | 6.69 |
| EV/EBITDA Ratio | 164.60 | 34.15 | 10.05 | 37.50 | ||
| EV/EBIT Ratio | 14.43 | 88.54 | ||||
| EV/FCF Ratio | 221.65 | 63.38 | 7.70 | 46.27 | ||
| Debt / Equity Ratio | 0.35 | 0.32 | 0.29 | 0.23 | 0.23 | 0.69 |
| Debt / EBITDA Ratio | 3.99 | 2.38 | 0.56 | 2.01 | ||
| Debt / FCF Ratio | 20.66 | 5.27 | 0.45 | 2.63 | ||
| Net Debt / Equity Ratio | 0.20 | 0.16 | 0.06 | -0.04 | -0.07 | 0.43 |
| Net Debt / EBITDA Ratio | 2.77 | -1.24 | -0.27 | -0.53 | -0.19 | 1.31 |
| Net Debt / FCF Ratio | -5.09 | 10.29 | -0.49 | -0.99 | -0.14 | 1.62 |
| Asset Turnover | 0.77 | 0.56 | 0.37 | 0.61 | 1.00 | 0.86 |
| Inventory Turnover | 2.77 | 2.40 | 1.74 | 2.36 | 3.22 | 3.46 |
| Quick Ratio | 0.88 | 0.64 | 1.12 | 1.61 | 1.10 | 1.21 |
| Current Ratio | 2.22 | 1.34 | 1.77 | 2.20 | 1.65 | 1.95 |
| Return on Equity (ROE) | -5.89% | -28.23% | -40.78% | -10.74% | 21.45% | 9.54% |
| Return on Assets (ROA) | -0.40% | -7.70% | -10.85% | -0.89% | 10.39% | 4.07% |
| Return on Invested Capital (ROIC) | -0.91% | -19.11% | -28.03% | -2.49% | 20.09% | 8.87% |
| Return on Capital Employed (ROCE) | -0.70% | -16.80% | -24.70% | -1.90% | 22.10% | 8.00% |
| Earnings Yield | -0.51% | -8.97% | -14.69% | -3.77% | 4.69% | 0.73% |
| FCF Yield | -0.34% | 0.46% | -3.77% | 1.54% | 13.03% | 2.23% |
| Buyback Yield / Dilution | -3.53% | -3.57% | -3.57% | 0.16% | -1.47% | -8.95% |