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Marvell Technology, Inc.

MRVL Technology Semiconductors

Marvell Technology, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $8.2 billion, up 42.1% from fiscal 2025. Member of the S&P 500 and Nasdaq 100; dividend growth for ten consecutive years, operating cash flow growth for five.

272.29 4.21 +1.57%
Market cap
$241.6B
P/E
88.7×
Dividend yield
0.11%
F-score
8/9
Altman Z
5.93
Beneish M
−1.59
Dividend safety
82/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 52.18
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 1 1 — 2 7 3 4 3 2 2 1
Insider Ownership 2.79%

Capital & Financial Ratios $m

Market Cap 241,580.00
Revenue 9,450.30
Net Income 2,639.90
Free Cash Flow 1,722.90
Net Debt 1,030.10
Current Ratio 3.17
Debt/Equity 0.27
P/E ratio 88.69
P/S ratio 25.86
P/B ratio 13.19
Past 5Y EPS Growth —
This Y EPS Growth 48.14%
Next Y EPS Growth 60.70%
Next 5Y EPS Growth 54.48%

Scores & Valuation vs History

F-score 8/9 Altman Z 5.93 Beneish M −1.59 Dividend safety 82/100
P/E against its own 10 years 92.18%
10-year low 10-year high
P/S against its own 10 years 99.26%
10-year low 10-year high
P/B against its own 10 years 99.41%
10-year low 10-year high
EV/Sales against its own 10 years 99.26%
10-year low 10-year high
EV/FCF against its own 10 years 98.00%
10-year low 10-year high

Dividends

Payout Ratio 0.10
Annual Dividend Rate 0.30
Annual Dividend Yield 0.11%
total individual payouts
2029 Powerpack
2028 Powerpack
2027 Powerpack
2026 0.24
0.06
0.06
0.06
0.06
2025 0.24
0.06
0.06
0.06
0.06
2024 0.24
0.06
0.06
0.06
0.06
2023 0.24
0.06
0.06
0.06
0.06
2022 0.24
0.06
0.06
0.06
0.06
2021 0.18
0.06
0.06
0.06
2020 0.24
0.06
0.06
0.06
0.06
2019 0.24
0.06
0.06
0.06
0.06
2018 0.24
0.06
0.06
0.06
0.06
2017 0.24
0.06
0.06
0.06
0.06
2016 0.24
0.06
0.06
0.06
0.06
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 951 948 2,639 3,933
Receivables 1,122 1,028 2,187 2,218
Inventory 864 1,030 1,388 1,361
Other — — — —
3,063 3,120 6,461 7,919
2024 2025 2026 Q'26
Payables 411 622 1,074 798
ST’ Debt 107 130 500 —
Other — — — —
1,814 2,027 3,221 2,500

Compound Annual Growth %

10y 5y 3y
Sales 12.15% 22.51% 11.45%
Cash Flow 23.90% 16.45% 10.75%
Earnings 0.00% 0.00% 0.00%
Book Value 13.20% 11.15% (2.92%)

Revenue $m

Apr Jul Oct Jan Year
’26 2,418 2,739 — — —
’26 1,895 2,006 2,075 2,219 8,195
’25 1,161 1,273 1,516 1,817 5,767
’24 1,322 1,341 1,419 1,427 5,508
’23 1,447 1,517 1,537 1,419 5,920
’22 832 1,076 1,211 1,343 4,462
’21 694 727 750 798 2,969
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 639 606 — — —
’26 333 462 582 374 1,751
’25 325 306 536 514 1,681
’24 208 113 503 547 1,371
’23 195 332 411 352 1,289
’22 (14) 222 265 346 819
’21 176 226 258 158 817
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 483 474 — — —
’26 239 414 508 258 1,419
’25 233 253 461 443 1,390
’24 106 1 448 465 1,021
’23 156 256 363 296 1,072
’22 (38) 187 185 299 632
’21 137 205 220 136 698
Fiscal quarters ending in the months shown.

EPS $

Apr Jul Oct Jan Year
’26 0.04 0.33 — — —
’26 0.20 0.22 2.20 0.46 3.07
’25 (0.25) (0.22) (0.78) 0.23 (1.02)
’24 (0.20) (0.24) (0.19) (0.45) (1.08)
’23 (0.20) 0.01 0.02 (0.02) (0.19)
’22 (0.13) (0.34) (0.08) 0.01 (0.53)
’21 (0.17) (0.24) (0.03) 0.02 (0.41)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 13.83 14.34 15.70 16.45 37.92 35.09 33.75 53.19 47.09 70.69

Analyst estimates 2027–2029

Powerpack
High 24.22 25.18 28.38 48.42 93.85 91.78 67.99 126.15 127.48 329.88
People
People Employees 4,617 3,749 5,275 5,633 5,340 6,729 7,448 6,577 7,042 7,480
Revenue/emp, $m 0.50 0.64 0.54 0.48 0.56 0.66 0.79 0.84 0.82 1.10
Income, $m
Income, $m Revenue 2,301 2,409 2,866 2,699 2,969 4,462 5,920 5,508 5,767 8,195
Gross margin, % 55.78 60.68 50.89 50.27 50.13 46.26 50.47 41.64 41.31 51.02
EBT 147 451 (5) 798 (322) (483) 85 (759) (895) 3,047
EBT margin, % 6.41 18.73 (0.16) 29.58 (10.85) (10.83) 1.44 (13.78) (15.51) 37.18
Net income 21 521 (179) 1,584 (277) (421) (163) (933) (885) 2,670
Depreciation 122 87 542 587 669 1,461 1,431 1,398 1,357 1,291
Per share, $
Per share, $ Revenue 4.51 4.84 4.85 4.06 4.44 5.60 6.95 6.39 6.66 9.52
Earnings 0.04 1.05 (0.30) 2.38 (0.41) (0.53) (0.19) (1.08) (1.02) 3.10
Cash flow (0.70) 1.15 1.01 0.54 1.22 1.03 1.51 1.59 1.94 2.03
Capex (0.11) (0.07) (0.07) (0.13) (0.18) (0.23) (0.26) (0.41) (0.34) (0.38)
Free cash flow (0.81) 1.08 0.94 0.41 1.04 0.79 1.26 1.19 1.61 1.65
Book value 7.90 8.32 12.36 13.06 12.61 19.70 18.37 17.22 15.51 16.62
Shares, m 510 498 591 665 669 797 851 861 866 861
Valuation, ×
Valuation, × P/E 371.75 22.22 0.00 10.10 0.00 0.00 0.00 0.00 0.00 25.13
P/S 3.29 4.82 3.82 5.92 11.91 12.75 6.21 10.59 16.94 8.26
P/B 1.88 2.81 1.50 1.84 4.19 3.62 2.35 3.93 7.27 4.73
EV/Sales 2.57 4.06 4.22 6.25 12.06 13.63 6.81 11.17 17.48 8.49
EV/FCF (14.30) 18.16 21.90 61.65 51.31 96.19 37.63 60.28 72.51 49.01
Cash, $m
Cash, $m Operating cash flow (358) 571 597 360 817 819 1,289 1,371 1,681 1,751
Capex (55) (33) (44) (87) (119) (187) (217) (350) (291) (331)
Free cash flow (413) 539 553 274 698 632 1,072 1,021 1,390 1,419
Balance, $m
Balance, $m Working capital 1,794 1,943 758 827 540 1,105 894 1,249 1,094 3,240
Total debt 37 62 1,781 1,539 1,193 4,548 4,492 4,166 4,064 4,471
Net debt (1,631) (1,779) 1,198 891 444 3,935 3,581 3,215 3,116 1,832
Shareholders’ equity 4,028 4,141 7,306 8,679 8,436 15,702 15,637 14,831 13,427 14,308
Returns, %
Returns, % ROA 0.42 11.13 (2.43) 14.98 (2.53) (2.56) (0.73) (4.27) (4.27) 12.57
ROIC 3.40 11.37 0.32 (1.59) (1.82) (1.11) 0.77 (1.97) (2.72) 5.12
ROE 0.52 12.75 (3.13) 19.82 (3.24) (3.49) (1.04) (6.13) (6.26) 19.25
Negative figures in brackets.

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026

Marvell Technology, Inc. peers in Semiconductors

Company Market cap P/E Compare
TXN Texas Instruments Incorporated $260.2B 44.3× Compare
ADI Analog Devices, Inc. $197.3B 49.3× Compare
QCOM QUALCOMM Incorporated $193.6B 21.2× Compare
ARM ARM Holdings PLC Sponsored ADR $318.1B 317× Compare
Company Market cap P/E Compare
ASX ASE Technology Holding Co., Ltd. $99.5B 53.3× Compare
INTC Intel Corporation $646.1B 0.0× Compare
MPWR Monolithic Power Systems, Inc. $68.5B 87.7× Compare
UMC United Microelectronics Corporation $63.9B 24.6× Compare

All 68 Semiconductors stocks →

MRVL metrics, ten years each

Marvell Technology, Inc. (MRVL) key facts

  • Marvell Technology, Inc. (MRVL) is a Semiconductors company in the Technology sector, listed on Nasdaq.
  • Marvell Technology, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $8.2 billion, up 42.1% from fiscal 2025.
  • As of October 2, 2026, MRVL traded at $272.29, a market capitalization of $241.6 billion.
  • Marvell Technology, Inc. pays an annual dividend of $0.30 per share, a yield of 0.11%, with a payout ratio of 9.90%.
  • Return on equity was 19.3% and debt-to-equity 0.27.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 5.93 (safe zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

Marvell Technology, Inc. (MRVL) Latest News

2 Oct

Impact 5 ·

Marvell Technology's data-center push gains steam as hyperscalers adopt its custom AI silicon. After a 36% quarterly revenue rise, Marvell lifted its fiscal 2028 revenue outlook to about $18 billion, with custom silicon revenue expected to more than double. The company cites more than 20 design wins across Amazon, Alphabet/Google, Microsoft, and Meta, and the Alphabet deal could be the most impactful: roughly $120 billion in cumulative revenue over six years if milestones are met. Management expects revenue to accelerate in the second half of the year and for custom silicon to drive notable growth in fiscal 2028–29, while non-custom products should benefit from demand tied to Google's TPUs and other hyperscalers. Risks include dependence on Taiwan Semiconductor and other Asian suppliers, execution pace, margins, and broader data-center cycles. Valuation remains lofty, but meeting long-term targets could unlock meaningful upside at Investor Day on Oct. 6, 2026.

28 Aug

Impact 5 ·

Marvell announced a Google AI deal potentially worth up to $120 billion, yet its stock fell 8%.

Impact 5 ·

Marvell CEO labels Google deal as game changing with custom AI chip revenue potentially much larger than modeled.

24 Aug

Impact 5 ·

Marvell Technology secures a $120 billion deal with Google that alters its market trajectory ahead of earnings.

21 Aug

Impact 5 ·

Marvell Technology secures a $12.2 billion deal with Google that revises the bullish outlook for MRVL stock.

20 Aug

Impact 5 ·

Google's $120 billion deal with Marvell shocks Broadcom, which stabilizes afterward in market trading.

19 Aug

Impact 5 ·

Alphabet holds a $12.2 billion option on Marvell Technology that could reshape its AI chip strategy and position Marvell as a key supplier.

8 May

Impact 5 ·

Marvell Technology, Inc. (MRVL) stock surges to $400, driven by strong demand in AI data centers, custom silicon wins, and robust earnings outlook.

8 Apr

Impact 5 ·

NVIDIA invests $2 billion in Marvell Technology (MRVL), forging a major strategic partnership that could propel both semiconductor giants' growth and stock performance amid AI and data center demand.

2 Apr

Impact 5 ·

Nvidia and Marvell Technology teamed up to develop advanced custom silicon platforms powering the next wave of AI infrastructure, targeting massive data centers and accelerating AI model training and inference.

1 Apr

Impact 5 ·

NVIDIA's $2 billion investment in Marvell's XPU technology has transformed Marvell Technology's investment story, signaling major strategic validation and boosted growth prospects.

31 Mar

Impact 5 ·

Marvell Technology (MRVL) shares surged on March 31 following Nvidia's $2 billion investment in their AI partnership.

Impact 5 ·

Nvidia invests $2 billion in Marvell Technology amid AI boom; Marvell shares jump.

Impact 5 ·

NVIDIA's $2 billion bet on Marvell Technology validates the chip designer's strategic pivot toward custom AI silicon and data center chips, boosting its credibility amid competition from Broadcom and others.

Impact 5 ·

Nvidia has taken a $2 billion stake in Marvell Technology, Inc. (MRVL).

Impact 5 ·

Marvell Technology shares jumped after Nvidia announced a $2 billion stake in the company.

Impact 5 ·

Nvidia invests $2B in Marvell Technology as part of an AI infrastructure partnership.

Impact 5 ·

NVIDIA stock rises on a $2 billion investment deal with Marvell Technology, generating intense AI industry buzz for three key reasons.

Impact 5 ·

Nvidia invests $2 billion in Marvell Technology, Inc. as part of a chip partnership.

Impact 5 ·

Nvidia acquires $2 billion stake in Marvell Technology (MRVL), driving stock surge of 9%.

Impact 5 ·

Marvell Technology stock surges 11% after announcing a partnership with Nvidia and securing a $2 billion investment.

Impact 5 ·

Nvidia invests $2 billion in Marvell Technology, Inc. and launches AI partnership.

Impact 5 ·

Nvidia invests $2 billion in Marvell Technology as surging AI adoption intensifies competition.

7 Mar

Impact 5 ·

Marvell Technology (MRVL) stock surges 18% after achieving billion-dollar profitability.

6 Mar

Impact 5 ·

Marvell Technology (MRVL) stock surged after earnings, driven by booming AI data center demand supporting $11 billion revenue outlook.
stockrow.com/MRVL · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com