MaxLinear, Inc
MaxLinear, Inc’s revenue for fiscal 2025 (year ended December 2025) was $467.6 million, up 29.7% from fiscal 2024. In the quarter to June 2026, revenue grew 55.2%, EPS grew 106.5%, free cash flow fell 46.6% and total debt was flat, each against the same quarter a year earlier.
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MaxLinear, Inc (MXL) Altman Z-score
MaxLinear, Inc's Altman Z-score for fiscal 2025 is 1.90, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.90 | (0.11) |
| FY2024 | 2.02 | (1.57) |
| FY2023 | 3.59 | (1.19) |
| FY2022 | 4.78 | (2.40) |
| FY2021 | 7.18 | 4.53 |
| FY2020 | 2.66 | (0.77) |
| FY2019 | 3.42 | 0.89 |
| FY2018 | 2.54 | (0.35) |
| FY2017 | 2.89 | (10.65) |
| FY2016 | 13.54 | 6.51 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.08 | — | 0.09 | |
| Retained earnings / total assets | (0.63) | — | −0.88 | |
| EBIT / total assets | (0.16) | — | −0.53 | |
| Market value of equity / total liabilities | 4.38 | — | 2.63 | |
| Sales / total assets | 0.59 | — | 0.59 | |
| Altman Z-score | Grey zone | 1.90 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.22 | ||
Z and Z″ put MaxLinear, Inc in different zones: grey zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| RMBS Rambus, Inc. compare | 37.7× |
| SLAB Silicon Laboratories, Inc. compare | 16.6× |
| CRUS Cirrus Logic, Inc. compare | 14.4× |
| PI Impinj, Inc. compare | 9.2× |
| ALGM Allegro MicroSystems, Inc. compare | 8.5× |
| SIMO Silicon Motion Technology Corporation compare | 6.9× |
| SYNA Synaptics Incorporated compare | 3.5× |
| VSH Vishay Intertechnology, Inc. compare | 1.9× |
| MXL MaxLinear, Inc | 1.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets