Tearsheet

Marvell Technology (MRVL)

Market Price (11/3/2025): $95.37 | Market Cap: $82.3 Bil
Sector: Information Technology | Industry: Semiconductors

Marvell Technology (MRVL)

Market Price (11/3/2025): $95.37
Market Cap: $82.3 Bil
Sector: Information Technology
Industry: Semiconductors

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 37%	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 787x
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.2%
2	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -44%

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 37%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%
2	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -44%
3	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 787x
4	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.2%

Market Valuation & Key Metrics

	11/3/25	2024	2023	2022
Share Price CYE	$95.37	$110.11	$59.91	$36.60
Market Cap CYE ($ Bil)	82.3	95.3	51.7	31.2
Total Debt ($ Bil)	4.8	4.3	4.4	4.7
Total Cash ($ Bil)	1.2	0.9	1.0	0.9
Enterprise Value ($ Bil)	85.8	99.6	56.1	35.9
Valuation Ratios
P/S TTM	11.4	16.6	9.4	5.3
P/EBIT TTM	801.0	-135.5	-95.0	123.3
P/E TTM	-795.6	-108.0	-55.6	-192.9
Sector Ratios
P/S TTM (Sector)	3.4	3.1	2.8	2.5
P/EBIT TTM (Sector)	1.7	-0.0	-0.1	-0.5
P/E TTM (Sector)	-0.3	-0.2	-0.4	-0.5

	11/3/25	2024
Share Price CYE	$95.37	$110.11
Market Cap CYE ($ Bil)	82.3	95.3
Total Debt ($ Bil)	4.8	4.3
Total Cash ($ Bil)	1.2	0.9
Enterprise Value ($ Bil)	85.8	99.6
Valuation Ratios
P/S TTM	11.4	16.6
P/EBIT TTM	801.0	-135.5
P/E TTM	-795.6	-108.0
Sector Ratios
P/S TTM (Sector)	3.4	3.1
P/EBIT TTM (Sector)	1.7	-0.0
P/E TTM (Sector)	-0.3	-0.2

	MRVL	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	7.2
Rev Chg Q	57.6%	6.6%
Rev Chg LTM	37.1%	5.6%
Rev Chg 3Y Avg	10.9%	5.3%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.4
CFO LTM ($ Bil)	1.8
Net Inc LTM ($ Bil)	-0.1
Op Mgn LTM	6.0%	18.7%
CFO/Rev LTM	25.5%	20.3%
Net Inc Mgn	-1.4%	12.8%
VALUATION	VERY HIGH
P/S	11.4	3.2
P/CFO	44.6	15.1
P/FCF	53.8	20.3
P/E	-795.6	23.6
STABILITY	GOOD
Debt/Equity	0.06	0.21
Cash/Assets	0.06	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Number of Employees	7,042	2/1/2025	Link
Shares Outstanding	862.10 million	10/30/2025	Link
Market Share	Second-highest in wired networking	10/30/2025	Link
Global Voluntary Turnover Rate	Approximately 5%	3/12/2025	Link
Number of Patents Worldwide	Over 10,000	2024	Link

MRVL Stock

Stock Price
Market Cap

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Stock Movement Drivers

Fundamental Drivers

The 26.0% change in MRVL stock from 8/3/2025 to 11/2/2025 was primarily driven by a 12.9% change in the company's P/S Multiple.

	8032025	11022025	Change
Stock Price ($)	74.40	93.74	25.99%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	6501.70	7234.90	11.28%
P/S Multiple	9.90	11.18	12.94%
Shares Outstanding (Mil)	864.80	862.60	0.25%
Cumulative Contribution			25.99%

LTM = Last Twelve Months as of date shown

Market Drivers

8/3/2025 to 11/2/2025

	Return	Correlation
MRVL	26.0%
Market (SPY)	9.7%	40.9%
Sector (XLK)	17.0%	53.2%

Fundamental Drivers

The 50.6% change in MRVL stock from 5/4/2025 to 11/2/2025 was primarily driven by a 25.4% change in the company's Total Revenues ($ Mil).

	5042025	11022025	Change
Stock Price ($)	62.24	93.74	50.62%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	5767.30	7234.90	25.45%
P/S Multiple	9.34	11.18	19.66%
Shares Outstanding (Mil)	865.50	862.60	0.34%
Cumulative Contribution			50.61%

LTM = Last Twelve Months as of date shown

Market Drivers

5/4/2025 to 11/2/2025

	Return	Correlation
MRVL	50.6%
Market (SPY)	20.7%	45.6%
Sector (XLK)	39.0%	54.2%

Fundamental Drivers

The 10.9% change in MRVL stock from 11/2/2024 to 11/2/2025 was primarily driven by a 37.1% change in the company's Total Revenues ($ Mil).

	11022024	11022025	Change
Stock Price ($)	84.51	93.74	10.93%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	5278.90	7234.90	37.05%
P/S Multiple	13.86	11.18	-19.35%
Shares Outstanding (Mil)	865.70	862.60	0.36%
Cumulative Contribution			10.93%

LTM = Last Twelve Months as of date shown

Market Drivers

11/2/2024 to 11/2/2025

	Return	Correlation
MRVL	10.9%
Market (SPY)	20.6%	63.7%
Sector (XLK)	35.0%	71.3%

Fundamental Drivers

The 154.9% change in MRVL stock from 11/3/2022 to 11/2/2025 was primarily driven by a 97.1% change in the company's P/S Multiple.

	11032022	11022025	Change
Stock Price ($)	36.78	93.74	154.88%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	5518.00	7234.90	31.11%
P/S Multiple	5.67	11.18	97.07%
Shares Outstanding (Mil)	850.90	862.60	-1.38%
Cumulative Contribution			154.83%

LTM = Last Twelve Months as of date shown

Market Drivers

11/3/2023 to 11/2/2025

	Return	Correlation
MRVL	83.7%
Market (SPY)	60.5%	63.4%
Sector (XLK)	77.3%	70.7%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
MRVL Return	80%	85%	-57%	64%	84%	-15%	262%
Peers Return	32%	17%	9%	20%	71%	35%	366%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
MRVL Win Rate	75%	75%	33%	58%	67%	60%
Peers Win Rate	38%	35%	27%	42%	30%	45%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
MRVL Max Drawdown	-35%	-16%	-59%	-6%	-7%	-55%
Peers Max Drawdown	-26%	-7%	-21%	-4%	-27%	-28%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: KLAC, MCHP, FSLR, AMBQ, LAES. See MRVL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/31/2025 (YTD)

How Low Can It Go

Unique Key	Event	MRVL	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-62.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	163.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	672 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-39.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	65.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	63 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-40.9%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	69.1%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	114 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-77.1%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	336.8%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	410 days	1480 days

Compare to KLAC, MCHP, FSLR, AMBQ, LAES

In The Past

Marvell Technology's stock fell -62.1% during the 2022 Inflation Shock from a high on 12/7/2021. A -62.1% loss requires a 163.9% gain to breakeven.

Preserve Wealth

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Asset Allocation

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About Marvell Technology (MRVL)

Marvell Technology, Inc., together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors. The company also provides a range of storage products comprising storage controllers for hard disk drives (HDD) and solid-state drives that support various host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics; and fiber channel products, including host bus adapters, and controllers for server and storage system connectivity. It has operations in the United States, China, Malaysia, the Philippines, Thailand, Singapore, India, Israel, Japan, South Korea, Taiwan, and Vietnam. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.

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Better Bets than Marvell Technology (MRVL)

	MRVL	Better Performance than MRVL
Metric	Value	Industry (Semiconductors)
Rev Chg LTM	37.1%	NVDA (71.6%), MU (48.9%), CRDO (175.8%), ALAB (163.8%), SITM (65.1%)
Rev Chg 3Y Avg	10.9%	NVDA (92.0%), AVGO (24.0%), AMD (11.7%), MU (20.3%), MPWR (20.0%)
Op Mgn LTM	6.0%	NVDA (58.1%), AVGO (39.0%), AMD (8.3%), MU (26.2%), QCOM (27.8%)
CFO/Rev LTM	25.5%	NVDA (46.6%), AVGO (42.4%), MU (46.9%), QCOM (29.3%), TXN (39.9%)
FCF/Rev LTM	21.1%	NVDA (43.6%), AVGO (41.6%), QCOM (26.9%), ADI (35.4%), MPWR (28.4%)
Total Yield	0.1%	NVDA (1.8%), AVGO (1.1%), AMD (0.7%), MU (3.6%), QCOM (7.8%)

	MRVL	Better Performance than MRVL
Metric	Value	Sector (Information Technology)
Rev Chg LTM	37.1%	NVDA (71.6%), PLTR (38.8%), MU (48.9%), APH (47.4%), STX (38.9%)
Rev Chg 3Y Avg	10.9%	NVDA (92.0%), MSFT (13.2%), AVGO (24.0%), PLTR (25.7%), AMD (11.7%)
Op Mgn LTM	6.0%	NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), AVGO (39.0%), ORCL (31.6%)
CFO/Rev LTM	25.5%	NVDA (46.6%), AAPL (26.6%), MSFT (50.0%), AVGO (42.4%), ORCL (36.5%)
FCF/Rev LTM	21.1%	NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), AVGO (41.6%), PLTR (49.7%)
Total Yield	0.1%	NVDA (1.8%), AAPL (2.8%), MSFT (3.4%), AVGO (1.1%), ORCL (2.4%)

	MRVL	Better Performance than MRVL
Metric	Value	All Other Sectors
Rev Chg LTM	37.1%	APP (48.2%), HOOD (59.6%), ENB (48.2%), COIN (48.6%), ALNY (53.2%)
Rev Chg 3Y Avg	10.9%	GOOGL (11.0%), AMZN (11.3%), META (17.3%), JPM (13.5%), LLY (23.4%)
Op Mgn LTM	6.0%	GOOGL (32.2%), AMZN (11.4%), META (43.2%), LLY (43.0%), V (66.5%)
CFO/Rev LTM	25.5%	GOOGL (39.3%), META (56.8%), V (60.4%), MA (56.1%), JNJ (26.3%)
FCF/Rev LTM	21.1%	META (23.7%), V (56.8%), MA (52.5%), BAC (57.3%), ABBV (31.3%)
Total Yield	0.1%	GOOGL (3.9%), AMZN (2.7%), META (3.9%), TSLA (0.3%), JPM (6.5%)

		Best Bets In Information Technology Sector
	MRVL	VRSN	NVDA	RMBS	YOU	GEN	IDCC	DBX	QCOM	MPWR	CRUS
What You Pay
P/E	-782.0	27.6	57.0	48.4	16.1	27.2	18.8	16.3	17.1	25.9	19.6
P/EBIT	787.3	19.9	48.9	41.2	19.1	10.0	15.2	13.8	15.2	72.8	14.6
What You Get
Rev Chg Q	57.6%	7.3%	55.6%	22.7%	17.5%	30.3%	28.0%	-1.4%	10.3%	31.0%	8.9%
Rev Chg LTM	37.1%	5.5%	71.6%	31.0%	19.8%	10.6%	28.8%	-0.0%	15.8%	34.3%	4.5%
Rev Chg 3Y Avg	10.9%	5.2%	92.0%	17.3%	35.5%	14.8%	27.1%	4.1%	1.4%	20.0%	0.6%
FCF/Rev 3Y Avg	20.4%	57.4%	41.3%	39.3%	37.3%	35.9%	54.2%	32.9%	26.1%	25.8%	20.4%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Marvell Technology Earnings Notes
2	Marvell Technology vs NVIDIA: Which Stock Could Rally?	Counter-Intuitive Comparisons
3	Marvell Technology Stock Rallied 11% - Have You Assessed the Risk	Return
4	Marvell Technology Stock Surges 5.8% In A Single Day, Wait For A Dip To Buy The Stock	Buy or Fear
5	Is The 20.2% Decline In Marvell Technology (MRVL) Stock A Dip Buying Opportunity?	Actionable
6	MRVL Dip Buy Analysis
7	Marvell Technology Total Shareholder Return (TSR): 67.9% in 2025 and 20.3% 3-yr compounded annual returns (above peer average)
8	Marvell Technology (MRVL) worth $81 Bil (up $4.5 Bil), more valuable than Caesars Entertainment	Notification
9	Marvell Technology (MRVL) Operating Cash Flow Comparison	Financials
10	Marvell Technology (MRVL) Net Income Comparison	Financials
11	ARTICLES
12	Marvell Technology Stock at 19% Discount, Worth Buying?		October 29th, 2025
13	Which Stock Will Rally: NVIDIA or Marvell Technology?		October 28th, 2025
14	Marvell Technology Stock To $61?		October 15th, 2025
15	Marvell Technology vs NVIDIA: Which Stock Could Rally?		October 15th, 2025
16	Big Move for MRVL, but Do NVDA’s Margins and Growth Give It the Edge?		October 4th, 2025

	Title
0	DASHBOARDS
1	Marvell Technology Stock at 19% Discount, Worth Buying?
2	Which Stock Will Rally: NVIDIA or Marvell Technology?
3	Marvell Technology Stock To $61?
4	Marvell Technology vs NVIDIA: Which Stock Could Rally?
5	Big Move for MRVL, but Do NVDA’s Margins and Growth Give It the Edge?
6	ARTICLES
7	Marvell Technology Earnings Notes
8	Marvell Technology vs NVIDIA: Which Stock Could Rally?
9	Marvell Technology Stock Rallied 11% - Have You Assessed the Risk
10	Marvell Technology Stock Surges 5.8% In A Single Day, Wait For A Dip To Buy The Stock
11	Is The 20.2% Decline In Marvell Technology (MRVL) Stock A Dip Buying Opportunity?
12	MRVL Dip Buy Analysis
13	Marvell Technology Total Shareholder Return (TSR): 67.9% in 2025 and 20.3% 3-yr compounded annual returns (above peer average)
14	Marvell Technology (MRVL) worth $81 Bil (up $4.5 Bil), more valuable than Caesars Entertainment
15	Marvell Technology (MRVL) Operating Cash Flow Comparison
16	Marvell Technology (MRVL) Net Income Comparison

Trade Ideas

Select past ideas related to MRVL. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ZBRA_10312025_Dip_Buyer_FCFYield	10312025	ZBRA	Zebra Technologies	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.0%	0.0%	0.0%
ACN_10312025_Dip_Buyer_ValueBuy	10312025	ACN	Accenture	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	0.0%	0.0%	0.0%
ADBE_10312025_Dip_Buyer_ValueBuy	10312025	ADBE	Adobe	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	0.0%	0.0%	0.0%
TXN_10312025_Monopoly_xInd_xCD_Getting_Cheaper	10312025	TXN	Texas Instruments	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.0%	0.0%	0.0%
MRVL_10242025_Monopoly_xInd_xCD_Getting_Cheaper	10242025	MRVL	Marvell Technology	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	11.4%	11.4%	0.0%
MRVL_3312025_Dip_Buyer_High_CFO_Margins_ExInd_DE	03312025	MRVL	Marvell Technology	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	34.1%	52.6%	-19.7%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ZBRA_10312025_Dip_Buyer_FCFYield	10312025	ZBRA	Zebra Technologies	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.0%	0.0%	0.0%
ACN_10312025_Dip_Buyer_ValueBuy	10312025	ACN	Accenture	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	0.0%	0.0%	0.0%
ADBE_10312025_Dip_Buyer_ValueBuy	10312025	ADBE	Adobe	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	0.0%	0.0%	0.0%
TXN_10312025_Monopoly_xInd_xCD_Getting_Cheaper	10312025	TXN	Texas Instruments	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.0%	0.0%	0.0%
MRVL_10242025_Monopoly_xInd_xCD_Getting_Cheaper	10242025	MRVL	Marvell Technology	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	11.4%	11.4%	0.0%
MRVL_3312025_Dip_Buyer_High_CFO_Margins_ExInd_DE	03312025	MRVL	Marvell Technology	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	34.1%	52.6%	-19.7%

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Peer Comparisons for Marvell Technology

Financials

	MRVL	KLAC	MCHP	FSLR	AMBQ	LAES	Median
Name	Marvell .	KLA	Microchi.	First So.	Ambiq Mi.	SEALSQ
Mkt Price	-	-	-	-	-	-	-
Mkt Cap	80.9	159.3	33.7	28.6	-	-	57.3
Rev LTM	7,235	12,524	4,236	4,343	69	-	4,343
Op Inc LTM	435	5,231	208	1,362	-38	-	435
FCF LTM	1,530	3,873	726	-943	-21	-	726
FCF 3Y Avg	1,232	3,413	2,018	-557	-	-	1,625
CFO LTM	1,845	4,248	797	299	-16	-	797
CFO 3Y Avg	1,536	3,737	2,282	762	-	-	1,909

Growth & Margins

	MRVL	KLAC	MCHP	FSLR	AMBQ	LAES	Median
Name	Marvell .	KLA	Microchi.	First So.	Ambiq Mi.	SEALSQ
Rev Chg LTM	37.1%	22.1%	-35.7%	15.4%	-	-	18.7%
Rev Chg 3Y Avg	10.9%	8.7%	-13.0%	20.6%	-	-	9.8%
Rev Chg Q	57.6%	13.0%	-13.4%	8.6%	-	-	10.8%
QoQ Delta Rev Chg LTM	11.3%	3.0%	-3.8%	2.0%	-	-	2.5%
Op Mgn LTM	6.0%	41.8%	4.9%	31.3%	-54.6%	-	6.0%
Op Mgn 3Y Avg	-1.3%	38.9%	23.8%	22.9%	-	-	23.4%
QoQ Delta Op Mgn LTM	5.4%	0.5%	-3.6%	-0.9%	-	-	-0.2%
CFO/Rev LTM	25.5%	33.9%	18.8%	6.9%	-22.6%	-	18.8%
CFO/Rev 3Y Avg	25.5%	34.0%	32.1%	21.7%	-	-	28.8%
FCF/Rev LTM	21.1%	30.9%	17.1%	-21.7%	-29.7%	-	17.1%
FCF/Rev 3Y Avg	20.4%	31.1%	28.5%	-14.8%	-	-	24.5%

Valuation

	MRVL	KLAC	MCHP	FSLR	AMBQ	LAES	Median
Name	Marvell .	KLA	Microchi.	First So.	Ambiq Mi.	SEALSQ
Mkt Cap	80.9	159.3	33.7	28.6	-	-	57.3
P/S	11.2	12.7	7.9	6.6	-	-	9.6
P/EBIT	787.3	30.8	309.1	20.7	-	-	169.9
P/E	-782.0	37.6	-226.8	22.8	-	-	-102.0
P/CFO	43.8	37.5	42.3	95.8	-	-	43.0
Total Yield	0.1%	3.3%	0.3%	4.4%	-	-	1.8%
Dividend Yield	0.3%	0.6%	0.7%	0.0%	-	-	0.4%
FCF Yield 3Y Avg	2.0%	3.6%	4.3%	-2.6%	-	-	2.8%
D/E	0.1	0.0	0.2	0.0	-	-	0.0
Net D/E	0.0	0.0	0.1	-0.0	-	-	0.0

Returns

	MRVL	KLAC	MCHP	FSLR	AMBQ	LAES	Median
Name	Marvell .	KLA	Microchi.	First So.	Ambiq Mi.	SEALSQ
1M Rtn	-	-	-	-	-	-	-
3M Rtn	-	-	-	-	-	-	-
6M Rtn	-	-	-	-	-	-	-
12M Rtn	-	-	-	-	-	-	-
3Y Rtn	-	-	-	-	-	-	-
1M Excs Rtn	7.0%	4.2%	-7.5%	13.1%	1.1%	70.3%	5.6%
3M Excs Rtn	14.5%	24.2%	-13.7%	37.5%	-28.0%	140.1%	19.4%
6M Excs Rtn	30.3%	53.6%	11.9%	84.2%	-	138.3%	53.6%
12M Excs Rtn	-6.5%	58.0%	-36.0%	16.4%	-	1,733.1%	16.4%
3Y Excs Rtn	66.2%	228.4%	-71.7%	24.6%	-	-	45.4%

Comparison Analyses

	Title
0	Marvell Technology Group vs. KLA Tencor: With Return Forecast Of 0%, Marvell Technology Group Is A Better Bet
1	Why MRVL With 54% Upside May Beat MCHP?
2	Marvell Technology Group vs. Fortinet: With Return Forecast Of 29%, Fortinet Is A Better Bet
3	Marvell Technology Group vs. Cadence Design Systems: With Return Forecast Of 4.3%, Cadence Design Systems Is A Better Bet
4	Marvell Technology Group vs. Arista Networks: With Return Forecast Of 13%, Arista Networks Is A Better Bet
5	Marvell Technology Group vs Air Products and Chemicals: Similar Market Cap, But Marvell Technology Group Is A Better Bet
6	Marvell Technology Group vs MSCI: Similar Market Cap; Which Stock Is A Better Bet?
7	Marvell Technology Group vs Johnson Controls: Similar Market Cap; Which Stock Is A Better Bet?
8	Marvell Technology Group vs Enterprise Products Partners: Similar Market Cap; Which Stock Is A Better Bet?
9	Marvell Technology Group vs Snap: Similar Revenue; Which Stock Is A Better Bet?

Financials

Annual
Quarterly

$ Mil \| FY: 2/1	LTM	2025	2024	2023	2022	2021	2020
Period End	8/2/2025	2/1/2025	2/3/2024	1/28/2023	1/29/2022	1/30/2021	2/1/2020
Filing Date	8/29/2025	3/12/2025	3/13/2024	3/9/2023	3/10/2022	3/16/2021	3/23/2020
Key Financials
Total Revenue	7,235	5,767	5,508	5,920	4,462	2,969	2,699
EBITDA	1,428	652	851	1,648	901	389	1,409
Operating Income	435	-366	-437	360	-315	-52	-188
Net Income	-103	-885	-933	-164	-421	-277	1,584
EPS	-0.11	-1.02	-1.08	-0.19	-0.53	-0.41	2.38
Growth Rates
Total Revenue Growth	37.1%	4.7%	-7.0%	32.7%	50.3%	10.0%	-5.8%
EBITDA Growth	46.4%	-23.4%	-48.4%	82.9%	131.9%	-72.4%	288.1%
Operating Income Growth	210.2%	16.1%	-221.4%	214.1%	-511.0%	72.6%	-256.7%
Net Income Growth	89.3%	5.2%	-470.9%	61.2%	-51.8%	-117.5%	984.7%
Margins
EBITDA Margin	19.7%	11.3%	15.4%	27.8%	20.2%	13.1%	52.2%
Operating Income Margin	6.0%	-6.4%	-7.9%	6.1%	-7.1%	-1.7%	-7.0%
Net Income Margin	-1.4%	-15.3%	-16.9%	-2.8%	-9.4%	-9.3%	58.7%
Cash & Debt
Total Cash	1,224	948	951	911	614	748	648
Total Debt	4,776	4,343	4,401	4,738	4,726	1,330	1,583
Net Debt / (Cash)	3,552	3,395	3,450	3,826	4,113	581	936
Cash Flows
Net Cash from Operations	1,845	1,681	1,370	1,289	819	817	360
Free Cash from Operations	1,530	1,390	1,020	1,072	632	698	274
Returns to Shareholders
Dividends	207	208	207	204	191	161	160
Share Repurchases	940	725	150	115	-0	25	364

$ Mil \| FY: 2/1	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	8/2/2025	5/3/2025	2/1/2025	11/2/2024	8/3/2024	5/4/2024	2/3/2024	10/28/2023	7/29/2023	4/29/2023	1/28/2023	10/29/2022
Filing Date	8/29/2025	5/30/2025	3/12/2025	12/4/2024	8/30/2024	5/31/2024	3/13/2024	12/1/2023	8/25/2023	5/26/2023	3/9/2023	12/2/2022
Key Financials Quarterly
Total Revenue	2,006	1,895	1,817	1,516	1,273	1,161	1,426	1,419	1,341	1,322	1,418	1,537
Ebitda	618	600	571	-361	254	188	325	207	150	169	377	455
Operating Income	299	258	223	-344	-96	-148	-8	-143	-164	-122	27	121
Net Income	195	178	200	-676	-193	-216	-393	-164	-208	-169	-15	13
EPS	0.23	0.21	0.23	-0.78	-0.22	-0.25	-0.45	-0.19	-0.24	-0.20	-0.02	0.02
Key Financials TTM
Total Revenue TTM	7,235	6,502	5,767	5,376	5,279	5,347	5,508	5,500	5,618	5,794	5,920	5,844
Ebitda TTM	1,428	1,064	652	407	975	870	851	902	1,150	1,393	1,648	1,679
Operating Income TTM	435	40	-366	-597	-395	-462	-437	-402	-138	151	345	354
Net Income TTM	-103	-492	-885	-1,478	-966	-980	-933	-556	-378	-167	-164	-142
Growth Rates Quarterly
Total Revenue Growth	57.6%	63.3%	27.4%	6.9%	-5.1%	-12.2%	0.6%	-7.7%	-11.6%	-8.7%	5.6%	26.9%
EBITDA Growth	143.1%	218.6%	75.4%	-274.5%	70.0%	11.7%	-13.7%	-54.5%	-61.9%	-60.2%	-7.6%	42.7%
Operating Income Growth	410.0%	274.3%	3069.3%	-141.1%	41.1%	-21.0%	-128.0%	-217.7%	-230.6%	-272.3%	-25.6%	541.5%
Net Income Growth	200.8%	182.5%	151.0%	-311.6%	6.8%	-27.6%	-2450.0%	-1335.3%	-4925.6%	-1.9%	-348.4%	121.2%
Margins Quarterly
EBITDA Margin	30.8%	31.7%	31.4%	-23.8%	20.0%	16.2%	22.8%	14.6%	11.1%	12.8%	26.6%	29.6%
Operating Income Margin	14.9%	13.6%	12.3%	-22.7%	-7.6%	-12.8%	-0.5%	-10.1%	-12.2%	-9.3%	1.9%	7.9%
Net Income Margin	9.7%	9.4%	11.0%	-44.6%	-15.2%	-18.6%	-27.5%	-11.6%	-15.5%	-12.8%	-1.1%	0.9%
Cash & Debt
Total Cash	1,224	886	948	868	809	848	951	726	423	1,028	911	723
Total Debt	4,776	4,512	4,343	4,341	4,374	4,381	4,401	4,422	4,388	4,906	4,738	4,744
Net Debt / (Cash)	3,552	3,626	3,395	3,473	3,565	3,533	3,450	3,697	3,965	3,878	3,826	4,021
Cash Flows Quarterly
FCF from Operations	462	333	514	536	306	324	547	503	112	208	352	411
Cash Flows TTM
FCF from Operations TTM	1,845	1,690	1,681	1,714	1,680	1,487	1,370	1,175	1,083	1,302	1,289	1,284
Returns to Shareholders Quarterly
Dividends	52	52	52	52	52	52	52	52	52	51	51	51
Share Repurchases	200	340	200	200	175	150	100	50	-0	-0	-0	50
Return on Invested Capital (ROIC) Quarterly
ROIC	5.6%	4.8%	5.0%	-6.9%	-2.1%	-3.2%	-0.2%	-2.7%	-2.9%	-1.9%	0.4%	0.5%
Return on Invested Capital (ROIC) TTM
ROIC TTM	2.4%	0.2%	-2.0%	-3.3%	-2.2%	-2.5%	-2.4%	-1.7%	-0.6%	0.7%	1.9%	1.9%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Design, development and sale of integrated circuits	5,508	5,920	4,462	2,969
Networking					1,378
Other					184
Storage					1,138
Total	5,508	5,920	4,462	2,969	2,699

Net Income by Segment

$ Mil	2025	2024	2023	2022	2021
Design, development and sale of integrated circuits	-933	-164
Total	-933	-164

Price Behavior

Price Behavior

Market Price	$93.74
Market Cap ($ Bil)	80.9
First Trading Date	06/30/2000
Distance from 52W High	-25.4%
	50 Days	200 Days
DMA Price	$79.01	$76.71
DMA Trend	down	up
Distance from DMA	18.6%	22.2%
	3M	1YR
Volatility	58.2%	72.2%
Downside Capture	286.16	252.62
Upside Capture	271.98	218.71
Correlation (SPY)	46.4%	63.7%

MRVL Betas & Captures as of 10/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.54	1.75	2.45	2.20	2.33	2.43
Up Beta	0.82	0.86	0.77	2.19	1.98	2.32
Down Beta	1.32	2.10	2.88	3.33	2.82	2.56
Up Capture	453%	361%	328%	239%	491%	4859%
Bmk +ve Days	14	27	37	74	145	425
Stock +ve Days	11	26	37	70	135	396
Down Capture	345%	43%	270%	159%	154%	111%
Bmk -ve Days	9	17	28	53	106	327
Stock -ve Days	12	18	28	57	116	356

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of MRVL With Other Asset Classes (Last 1Y)
	MRVL	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	12.7%	31.3%	18.5%	45.3%	3.1%	-4.4%	56.7%
Annualized Volatility	71.9%	27.3%	19.6%	19.9%	16.3%	18.1%	37.0%
Sharpe Ratio	0.47	0.97	0.74	1.77	0.00	-0.39	0.94
Correlation With Other Assets		71.2%	63.7%	-0.2%	25.9%	22.5%	32.1%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of MRVL With Other Asset Classes (Last 5Y)
	MRVL	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	18.2%	21.4%	16.1%	15.6%	12.7%	5.9%	53.1%
Annualized Volatility	57.7%	24.7%	17.2%	15.6%	18.9%	19.2%	49.2%
Sharpe Ratio	0.52	0.78	0.77	0.80	0.56	0.23	0.80
Correlation With Other Assets		73.0%	65.6%	9.4%	16.7%	35.2%	29.3%

Based On 10-Year Data

		Comparison of MRVL With Other Asset Classes (Last 10Y)
	MRVL	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	26.8%	22.6%	14.5%	12.7%	5.2%	5.0%	81.9%
Annualized Volatility	49.2%	24.2%	18.0%	14.7%	17.7%	20.9%	56.2%
Sharpe Ratio	0.67	0.86	0.70	0.71	0.23	0.21	0.98
Correlation With Other Assets		68.0%	61.3%	5.2%	20.9%	34.8%	18.9%

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	36,285,440
Short Interest: % Change Since 9302025	-12.2%
Average Daily Volume	19,146,282
Days-to-Cover Short Interest	1.90
Basic Shares Quantity	862,600,000
Short % of Basic Shares	4.2%

Returns Analyses

	Title
0	Marvell Technology Stock Rallied 11% - Have You Assessed the Risk
1	Marvell Technology Stock Return Comparison
2	Marvell Technology Total Shareholder Return (TSR): -39.2% in 2023 and 22.1% 3-yr returns (below peer average)
3	Marvell Technology Group (MRVL) Stock Return: AI Predicts MRVL Average and Excess Return After a Fall or Rise

SEC Filings

Expand for More

Report Date	Filing Date	Filing
7312025	8292025	10-Q 8/2/2025
4302025	5302025	10-Q 5/3/2025
1312025	3122025	10-K 2/1/2025
10312024	12042024	10-Q 11/2/2024
7312024	8302024	10-Q 8/3/2024
4302024	5312024	10-Q 5/4/2024
1312024	3132024	10-K 2/3/2024
10312023	12012023	10-Q 10/28/2023
7312023	8252023	10-Q 7/29/2023
4302023	5262023	10-Q 4/29/2023
1312023	3092023	10-K 1/28/2023
10312022	12022022	10-Q 10/29/2022
7312022	8262022	10-Q 7/30/2022
4302022	5272022	10-Q 4/30/2022
1312022	3102022	10-K 1/29/2022
10312021	12032021	10-Q 10/30/2021

Insider Activity

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2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Marvell Technology (MRVL)

Market Price (11/3/2025): $95.37 | Market Cap: $82.3 BilSector: Information Technology | Industry: Semiconductors

Marvell Technology (MRVL)

Market Price (11/3/2025): $95.37Market Cap: $82.3 BilSector: Information TechnologyIndustry: Semiconductors

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MRVL Stock

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Market Price (11/3/2025): $95.37 | Market Cap: $82.3 Bil
Sector: Information Technology | Industry: Semiconductors

Market Price (11/3/2025): $95.37
Market Cap: $82.3 Bil
Sector: Information Technology
Industry: Semiconductors