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Thursday 5 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

193.50 39.63 −17.00%
Market cap
$17.8B
P/E
60.5×
Fwd P/E
57.0×
Dividend yield
—
F-score
5/9
Altman Z
8.12
Beneish M
−2.81
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

MACOM Technology Solutions Holdings, Inc. (MTSI) valuation and DCF model

What the price implies · reverse DCF

At $193.50 the price implies free cash flow after share-based pay growing 31.1% a year for ten years.

Free cash flow after share-based pay grew −6.3% a year over the last five years. The price asks for 37.4 points a year more than its five-year rate. The industry’s median company is priced for 25.1%.

In September 2020 the price assumed 19.9% a year; MACOM Technology Solutions Holdings, Inc. went on to grow free cash flow after share-based pay −9.0% a year to FY2025.

Price implies
31.1%
Last 5 years, reported
−6.3%
Industry median implies
25.1%

The headline discounts the last twelve months’ free cash flow after share-based pay at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
31.1% a year for ten years
$193.50
today’s price
Its base case
−6.3% a year for five years, then −3.8%
$16.11
91.7% below today’s price

Both are growth in free cash flow after share-based pay, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record MACOM Technology Solutions Holdings, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Cash flow to equity
the four quarters to June 2026, from the 10-Q and 10-K filings, before share-based pay

Yearly growth in cash flow. It usually slows as the company matures.

Today’s price implies free cash flow after share-based pay growing 31.1% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

Diluted shares outstanding. Net debt, under Advanced inputs, is taken off before dividing.

Advanced inputs
Free cash flow Revenue and margin
negative is net cash
new shares the cash flow does not pay for

Against MACOM Technology Solutions Holdings, Inc.’s own cost of capital: risk-free 4.3% + beta 1.83 × equity premium 4.5% = 12.5% cost of equity; weighted, 12.5%.

Use 12.5%
Equity value $1.24b ▼ below market cap $14.84b
Base case value per share $16.11 equity value ÷ 76.67m shares
Current price $193.50 market price per share
Below today’s price 91.7% downside at the base case’s assumptions

How we got there$540.45m 10 years of cash to equity+$438.64m terminal value+$256.03m net cash=$1.24b equity value÷76.67m shares=$16.11 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Semiconductors).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 60.47× 70.18× 293.71× 79% below 36.98× 64% above
P/FCF 76.06× 51.64× 51.02× 49% above 43.80× 74% above
P/B 9.59× 6.81× 6.10× 57% above 3.87× 148% above
EV/EBITDA 52.92× 43.38× 35.32× 50% above 20.84× 154% above
EV/Sales 12.47× 9.38× 7.11× 75% above 5.07× 146% above
P/E P/FCF P/B EV/EBITDA EV/Sales
25.46×49.07×72.67×96.28×10Y avg 51.02×201620172020202120222023202420252026

MTSI trades at 76.06× P/FCF, against a 10-year average of 51.02× (range 14.84×–102.93×). That is dearer than 88% of the last 8 year-end readings; re-rating to the average implies $129.79 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.