MaxLinear, Inc (MXL) vs Qorvo, Inc. (QRVO)

MaxLinear, Inc and Qorvo, Inc. are both Semiconductors companies. Qorvo, Inc. is the larger, with a market value of $10.3B against $7.9B — 1.3× the size. MaxLinear, Inc has negative trailing earnings, so its P/E is not meaningful; Qorvo, Inc. trades at 27.1×. MaxLinear, Inc grew revenue faster over the last twelve months: 50.5% against −0.18%. Qorvo, Inc. has the higher net margin (11.0% vs −18.2%) and the higher return on invested capital (8.09% vs −8.94%). Across the 20 metrics below, Qorvo, Inc. leads on 14 and MaxLinear, Inc on 6.

Valuation

Metric MXL QRVO Semiconductors median
P/E n/m 27.12 49.41
P/S 14.85 2.85 8.58
P/B 17.43 2.99 5.49
Price to free cash flow 12,939.72 14.81 47.02
EV/EBITDA n/m 13.68 30.78
EV/Sales 14.95 3.02 8.79
Earnings yield (1.27%) 3.69% 0.62%
Free cash flow yield 0.01% 6.75% 0.59%

Profitability

Metric MXL QRVO Semiconductors median
Gross margin 57.48% 48.22% 52.25%
Operating margin (13.64%) 13.12% 4.85%
Net margin (18.24%) 10.95% 4.77%
Free cash flow margin 0.11% 19.24% 8.65%
Return on equity (21.32%) 11.56% 3.11%
Return on assets (12.31%) 6.69% 1.91%
Return on invested capital (8.94%) 8.09% 2.46%

Growth

Metric MXL QRVO Semiconductors median
Revenue growth (TTM) 50.50% (0.18%) 16.66%
EPS growth (last fiscal year) 46.08% 524.14% —
Revenue growth, 5-year CAGR (0.46%) (1.74%) 5.60%
Net income growth, 5-year CAGR 0.00% (14.31%) 0.00%

Health

Metric MXL QRVO Semiconductors median
Debt to equity 0.26 0.45 0.05
Current ratio 1.78 3.54 3.35
Net debt to EBITDA (0.61) 0.44 0.58

Dividend

Metric MXL QRVO Semiconductors median
Dividend yield — — 1.93%
Payout ratio 0.00 0.00 0.00

Size

Metric MXL QRVO Semiconductors median
Market cap 7.94b 10.26b 5.67b

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