Marvell Technology Stock vs Competition: Who Wins?
Marvell Technology’s stock has delivered modest returns over the past year, prompting a look at how this core AI infrastructure enabler compares to its peers. While boasting strong revenue growth and solid free cash flow, trailing profitability, highlighted by a negative P/E, suggests challenges despite strategic moves in high-speed interconnects and optical innovation for next-gen data centers.
- MRVL’s 6.0% operating margin, modest due to AI/data center investments, trails KLAC’s 41.8% from its vital role in advanced chip process control.
- MRVL’s 37.1% revenue growth, fueled by strong AI/data center demand, outpaces KLAC, MCHP, and FSLR in diverse tech segments.
- MRVL’s 4.8% gain and -645.7 P/E, reflecting past investments, trails KLAC/FSLR’s stronger returns from established market dominance.
Here’s how Marvell Technology stacks up across size, valuation, and profitability versus key peers.
| MRVL | KLAC | MCHP | FSLR | |
|---|---|---|---|---|
| Market Cap ($ Bil) | 80.1 | 156.8 | 30.6 | 28.2 |
| Revenue ($ Bil) | 7.2 | 12.5 | 4.2 | 4.3 |
| PE Ratio | -645.7 | 33.5 | -187.4 | 18.8 |
| LTM Revenue Growth | 37.1% | 22.1% | -23.4% | 15.4% |
| LTM Operating Margin | 6.0% | 41.8% | 3.7% | 31.3% |
| LTM FCF Margin | 21.1% | 30.9% | 17.9% | -21.7% |
| 12M Market Return | 4.8% | 83.6% | 0.3% | 23.4% |
For more details on Marvell Technology, read Buy or Sell MRVL Stock. Below we compare MRVL’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MRVL | 37.1% | 4.7% | -7.0% | 32.7% | |
| KLAC | 22.1% | 23.9% | -6.5% | 13.9% | |
| MCHP | -23.4% | -42.3% | -9.5% | 23.7% | |
| FSLR | 15.4% | – | 26.7% | 26.7% | -10.4% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MRVL | 6.0% | -6.4% | -7.9% | 6.1% | |
| KLAC | 41.8% | 41.2% | 37.1% | 38.1% | |
| MCHP | 3.7% | 8.5% | 33.5% | 36.9% | |
| FSLR | 31.3% | – | 33.1% | 26.7% | -10.7% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| MRVL | -645.7 | -108.0 | -55.7 | -192.9 | |
| KLAC | 33.5 | 20.6 | 28.5 | 15.5 | |
| MCHP | -187.4 | -61628.3 | 25.6 | 17.3 | |
| FSLR | 18.8 | – | 14.6 | 22.1 | -361.4 |
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