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Monday 2 November 2026
Export MTSI’s income statement to Excel — free account
MACOM Technology Solutions Holdings, Inc.
MTSI Technology Semiconductors
MACOM Technology Solutions Holdings, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $967.3 million, up 32.6% from fiscal 2024.
- Revenue
- +35.8%
- EPS
- +169.4%
- Free cash flow
- +165.5%
- Total debt
- −28.3%
Quarter to June 2026, against a year earlier
223.77
10.62
−4.53%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to September
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 544 | 699 | 570 | 500 | 530 | 607 | 675 | 648 | 730 | 967 | 1,164 | +6.6% | 1,324 | 1,805 | 2,092 | +29.3% | |
| Gross margin, % | 51.73 | 46.78 | 43.08 | 44.17 | 50.97 | 56.33 | 60.16 | 59.50 | 53.97 | 54.69 | 56.54 | +3.0 pt | ||||||
| EBT | (22) | (50) | (155) | (423) | (42) | 43 | 243 | 115 | 92 | (29) | 286 | +3.4% | ||||||
| EBT margin, % | (3.96) | (7.08) | (27.22) | (84.68) | (7.84) | 7.08 | 36.01 | 17.76 | 12.55 | (3.00) | 24.59 | +1.0 pt | ||||||
| Net income | 1 | (169) | (140) | (384) | (46) | 38 | 440 | 92 | 77 | (54) | 241 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 10.20 | 11.51 | 8.81 | 7.61 | 7.96 | 8.87 | 9.68 | 9.16 | 10.14 | 13.07 | 15.25 | +2.8% | |||||
| Earnings | 0.03 | (2.79) | (2.16) | (5.88) | (0.69) | 0.55 | 6.30 | 1.29 | 1.07 | (0.73) | 3.20 | n/m | ||||||
| Cash flow | 1.48 | 1.01 | 0.56 | 0.32 | 2.57 | 2.17 | 2.54 | 2.36 | 2.26 | 3.18 | 3.55 | +8.8% | ||||||
| Capex | (0.59) | (0.54) | (0.80) | (0.49) | (0.26) | (0.26) | (0.38) | (0.24) | (0.36) | (1.11) | (1.01) | +7.3% | ||||||
| Free cash flow | 0.90 | 0.47 | (0.24) | (0.18) | 2.32 | 1.91 | 2.16 | 2.12 | 1.90 | 2.07 | 2.54 | +9.7% | ||||||
| Book value | 8.67 | 12.81 | 10.33 | 4.78 | 4.51 | 6.89 | 12.08 | 13.38 | 15.65 | 17.94 | 20.19 | +8.4% | ||||||
| Shares, m | 53 | 61 | 65 | 66 | 67 | 68 | 70 | 71 | 72 | 74 | 75 | +3.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 1,411.33 | 0.00 | 0.00 | 0.00 | 0.00 | 115.84 | 8.22 | 63.36 | 103.02 | 0.00 | 69.93 | 170.2 | |||||
| P/S | 4.15 | 3.95 | 2.27 | 2.83 | 4.27 | 7.32 | 5.35 | 8.93 | 10.97 | 9.52 | 14.67 | 6.0 | ||||||
| P/B | 4.88 | 3.55 | 1.94 | 4.50 | 7.55 | 9.41 | 4.29 | 6.11 | 7.11 | 6.94 | 11.09 | 5.6 | ||||||
| EV/Sales | 4.57 | 4.63 | 3.15 | 3.86 | 4.94 | 7.62 | 5.39 | 8.90 | 10.86 | 9.30 | 14.45 | 6.3 | ||||||
| EV/FCF | 53.71 | 120.51 | (104.97) | (144.23) | 17.17 | 35.83 | 24.43 | 38.83 | 58.14 | 58.70 | 86.65 | 15.8 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 79 | 61 | 36 | 21 | 171 | 148 | 177 | 167 | 163 | 235 | 271 | +12.9% | |||||
| Capex | (31) | (33) | (52) | (32) | (17) | (18) | (26) | (17) | (26) | (82) | (77) | +11.3% | ||||||
| Free cash flow | 48 | 28 | (15) | (12) | 154 | 131 | 150 | 150 | 137 | 153 | 194 | +13.8% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 521 | 446 | 352 | 324 | 387 | 428 | 716 | 678 | 795 | 880 | 671 | +6.0% | |||||
| Net debt | 226 | 471 | 501 | 515 | 355 | 185 | 23 | (18) | (93) | (218) | (256) | n/m | ||||||
| Shareholders’ equity | 463 | 777 | 669 | 314 | 300 | 472 | 843 | 948 | 1,126 | 1,327 | 1,541 | +12.4% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 0.14 | (12.00) | (10.75) | (29.66) | (4.09) | 3.33 | 32.52 | 5.86 | 4.65 | (2.81) | 11.61 | (2.9) pt | |||||
| ROIC | 1.20 | (0.80) | (5.69) | (28.68) | 0.32 | 7.71 | 9.58 | 7.22 | 4.46 | 7.31 | 10.26 | +6.1 pt | ||||||
| ROE | 0.32 | (27.33) | (23.18) | (78.12) | (15.01) | 9.84 | 66.94 | 10.23 | 7.41 | (4.42) | 17.18 | (4.7) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 1,400 | 1,800 | 1,400 | 1,100 | 1,050 | 1,100 | 1,200 | 1,500 | 1,700 | 2,000 | — | +4.0% | |||||
| Revenue/emp, $m | 0.39 | 0.39 | 0.41 | 0.45 | 0.50 | 0.55 | 0.56 | 0.43 | 0.43 | 0.48 | — | +2.5% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Sep 2025 · latest quarter Jun 2026
Business profile
Where the money comes from and where it goes Fiscal 2024
| Reportable Segment | 730 | 100.00% |
|---|---|---|
| Gross margin | 53.97% | |
| Operating margin | 10.10% | |
| Pre-tax margin | 12.55% |
MACOM Technology Solutions Holdings, Inc. vs peers in Semiconductors (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ON ON Semiconductor Corporation | $27.9B | 45.4× | 32.9× | +9.18% (above 0%: growing) | +41.46% (above 0%: growing) | +284.55% (above 0%: growing) | 38.43% | 16.13% | Compare |
| CBRS Cerebras Systems Inc. | $24.4B | — (loss-making) | — | — | n/m | — | 14.19% | (264.97%) | Compare |
| GFS GlobalFoundries Inc. | $23.0B | 32.2× | 32.3× | +5.81% (above 0%: growing) | −26.83% (below 0%: shrinking) | −97.40% (below 0%: shrinking) | 28.28% | 9.74% | Compare |
| SWKS Skyworks Solutions, Inc. | $20.6B | 44.9× | 57.9× | −3.13% (below 0%: shrinking) | −67.14% (below 0%: shrinking) | −106.87% (below 0%: shrinking) | 40.12% | 5.19% | Compare |
| TSEM Tower Semiconductor Ltd. | $18.9B | 64.8× | 47.8× | +23.66% (above 0%: growing) | +90.48% (above 0%: growing) | −180.73% (below 0%: shrinking) | 29.95% | 19.62% | Compare |
| MTSI MACOM Technology Solutions Holdings, Inc. | $17.9B | 73.2× | 57.0× | +35.77% (above 0%: growing) | +169.39% (above 0%: growing) | +165.46% (above 0%: growing) | 58.31% | 22.53% | |
| SITM SiTime Corporation | $13.4B | 844× | 108× | +126.54% (above 0%: growing) | n/m | +1,018.94% (above 0%: growing) | 62.97% | 5.22% | Compare |
| LSCC Lattice Semiconductor Corporation | $13.2B | 358× | 118× | +62.20% (above 0%: growing) | +600.00% (above 0%: growing) | +130.47% (above 0%: growing) | 70.29% | 11.12% | Compare |
| SMTC Semtech Corporation | $11.9B | 76.7× | 33.0× | +32.72% (above 0%: growing) | n/m | +54.57% (above 0%: growing) | 53.75% | 16.31% | Compare |
| Median of peers | $19.8B | 64.8× | 47.8× | +23.66% | +41.46% | +54.57% | 39.28% | 10.43% |
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
95.54%
Held by the ten largest
54.30%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Fidelity (FMR) | 10.53m | 13.78% | −83.30k |
| BlackRock | 9.51m | 12.46% | +946.62k |
| Vanguard | 7.21m | 9.44% | +115.32k |
| T. Rowe Price | 3.83m | 5.02% | −1.57m |
| State Street | 2.26m | 2.96% | +109.49k |
| Invesco | 2.15m | 2.81% | −1.52m |
| JPMorgan Chase | 2.13m | 2.78% | +109.46k |
| Geode Capital Management | 1.41m | 1.85% | +50.21k |
| Franklin Templeton | 1.24m | 1.62% | +738.14k |
| Wellington Management | 1.21m | 1.58% | −342.32k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 16 January 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 10.10m | 24.34m | 376.95 |
| 2024 | 5.97m | 14.82m | 329.94 |
| 2023 | 5.98m | 18.50m | 241.36 |
| 2022 | 8.28m | 3.13m | 153.22 |
| 2021 | 3.18m | 31.36m | 193.31 |
Ownership
Directors and executive officers, together
less than 1%
Susan Ocampo and affiliates
10.70%
BlackRock, Inc.
9.00%
The Vanguard Group
8.70%
FMR LLC
7.50%
T. Rowe Price Investment Management, Inc.
7.30%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
MACOM Technology Solutions Holdings designs, develops and manufactures semiconductor components that customers build into larger electronic systems. Its products handle radio-frequency, microwave and optical signals in equipment such as radar, satellite networks, wireless base stations and data center networks. MACOM traces its roots to 1950, is headquartered in Lowell, Massachusetts, and is led by President and Chief Executive Officer Steve Daly.
The company serves three primary markets: industrial and defense, data centers, and telecommunications. Industrial and defense applications range from military radar and communications to medical imaging and scientific equipment. In data centers, MACOM supplies components for optical connections that move data between computing equipment. In telecom, its products are used in wired and wireless communications infrastructure, including satellite systems.