Tearsheet

Marvell Technology (MRVL)


Market Price (9/18/2025): $71.68 | Market Cap: $61.8 Bil
Sector: Information Technology | Industry: Semiconductors

Marvell Technology (MRVL)


Market Price (9/18/2025): $71.68
Market Cap: $61.8 Bil
Sector: Information Technology
Industry: Semiconductors

Investment Highlights

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 37%
Weak multi-year price returns
2Y Excs Rtn is -19%, 3Y Excs Rtn is -18%
Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 596x
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 Weak multi-year price returns
2Y Excs Rtn is -19%, 3Y Excs Rtn is -18%
4 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 596x
5 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

 9/18/25202420232022
Share Price CYE$71.68$110.18$59.95$36.62
Market Cap CYE ($ Bil)61.895.451.731.2
Total Debt ($ Bil)4.84.34.44.7
Total Cash ($ Bil)1.20.91.00.9
Enterprise Value ($ Bil)65.499.756.135.9
Valuation Ratios    
P/S TTM8.616.69.45.3
P/EBIT TTM602.1-135.5-95.0123.3
P/E TTM-598.0-108.0-55.6-192.9
Sector Ratios    
P/S TTM (Sector)3.23.12.82.5
P/EBIT TTM (Sector)3.9-0.0-0.1-0.5
P/E TTM (Sector)-0.4-0.3-0.4-0.5
 9/18/252024
Share Price CYE$71.68$110.18
Market Cap CYE ($ Bil)61.895.4
Total Debt ($ Bil)4.84.3
Total Cash ($ Bil)1.20.9
Enterprise Value ($ Bil)65.499.7
Valuation Ratios  
P/S TTM8.616.6
P/EBIT TTM602.1-135.5
P/E TTM-598.0-108.0
Sector Ratios  
P/S TTM (Sector)3.23.1
P/EBIT TTM (Sector)3.9-0.0
P/E TTM (Sector)-0.4-0.3

Business Description

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. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
MRVL Return80%85%-57%64%84%-36%160%
Peers Return65%53%-4%89%52%34%834%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: KLAC, MCHP, FSLR, NVDA, AVGO. See MRVL Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

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Financials

MRVLKLACMCHPFSLRNVDAAVGOMedian
NameMarvell .KLA Microchi.First So.NVIDIA Broadcom  
Mkt Price70.98989.8765.78210.71170.29346.17190.50
Mkt Cap61.2130.735.522.64,149.31,631.896.0
Rev LTM7,23512,1564,2364,257165,21859,9269,696
Op Inc LTM4355,0142081,37395,98123,3663,194
FCF LTM1,5303,742726-97672,02324,9302,636
FCF 3Y Avg1,2323,3672,018-54843,04420,3192,692
CFO LTM1,8454,08279734277,03525,4382,963
CFO 3Y Avg1,5363,6872,28274145,86620,8212,985

Growth & Margins

MRVLKLACMCHPFSLRNVDAAVGOMedian
NameMarvell .KLA Microchi.First So.NVIDIA Broadcom  
Rev Chg LTM37.1%23.9%-35.7%19.4%71.6%28.0%25.9%
Rev Chg 3Y Avg10.9%10.4%-13.0%19.8%92.0%24.0%15.4%
Rev Chg Q57.6%23.6%-13.4%6.4%55.6%22.0%22.8%
QoQ Delta Rev Chg LTM11.3%5.2%-3.8%1.2%11.2%5.0%5.1%
Op Mgn LTM6.0%41.2%4.9%32.3%58.1%39.0%35.6%
Op Mgn 3Y Avg-1.3%38.8%23.8%18.7%51.0%38.4%31.1%
QoQ Delta Op Mgn LTM5.4%1.1%-3.6%-0.9%0.1%1.5%0.6%
CFO/Rev LTM25.5%33.6%18.8%8.0%46.6%42.4%29.5%
CFO/Rev 3Y Avg25.5%34.1%32.1%22.8%44.5%44.6%33.1%
FCF/Rev LTM21.1%30.8%17.1%-22.9%43.6%41.6%26.0%
FCF/Rev 3Y Avg20.4%31.1%28.5%-14.2%41.3%43.5%29.8%

Valuation

MRVLKLACMCHPFSLRNVDAAVGOMedian
NameMarvell .KLA Microchi.First So.NVIDIA Broadcom  
Mkt Cap61.2130.735.522.64,149.31,631.896.0
P/S8.510.88.45.325.127.29.6
P/EBIT596.226.4325.716.041.171.056.1
P/E-592.132.2-239.017.847.986.225.0
P/CFO33.232.044.565.953.964.149.2
Total Yield0.2%3.8%0.3%5.6%2.1%1.2%1.6%
Dividend Yield0.3%0.7%0.7%0.0%0.0%0.0%0.2%
FCF Yield 3Y Avg2.0%3.6%4.3%-2.8%1.5%3.1%2.6%
D/E0.10.00.20.00.00.00.0
Net D/E0.10.00.1-0.0-0.00.00.0

Returns

MRVLKLACMCHPFSLRNVDAAVGOMedian
NameMarvell .KLA Microchi.First So.NVIDIA Broadcom  
1M Rtn-7.5%12.1%0.3%-3.9%-6.4%13.2%-1.8%
3M Rtn-5.2%13.9%-2.6%46.7%17.1%38.1%15.5%
6M Rtn1.9%38.2%22.3%62.9%44.9%78.0%41.6%
12M Rtn-2.1%35.1%-12.1%-12.2%47.4%115.5%16.5%
3Y Rtn55.1%204.4%7.2%55.2%1,191.8%630.0%129.8%
1M Excs Rtn-9.9%9.7%-2.0%-6.3%-8.8%10.9%-4.1%
3M Excs Rtn-8.8%0.8%-12.5%36.1%7.8%28.8%4.3%
6M Excs Rtn-13.4%22.5%5.6%47.9%30.0%66.9%26.2%
12M Excs Rtn-21.7%15.7%-30.1%-25.2%25.7%91.5%-3.0%
3Y Excs Rtn-17.5%125.1%-56.1%-6.5%1,014.8%532.7%59.3%

Financials

Segment Financials

Revenue by Segment

$ Mil20252024202320222021
Design, development and sale of integrated circuits5,5085,9204,4622,969 
Networking    1,378
Other    184
Storage    1,138
Total5,5085,9204,4622,9692,699


Net Income by Segment
$ Mil20252024202320222021
Design, development and sale of integrated circuits-933-164   
Total-933-164   


Price Behavior

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity30,451,426
Short Interest: % Change Since 81520255.2%
Average Daily Volume23,588,201
Days-to-Cover Short Interest1.29
Basic Shares Quantity862,600,000
Short % of Basic Shares3.5%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/28/2025-18.6%-18.0% 
5/29/2025-5.6%2.2%21.4%
3/5/2025-19.8%-22.5%-38.3%
12/3/202423.2%11.2%23.2%
8/29/20249.2%-5.2%3.3%
5/30/2024-10.5%-11.4%-7.6%
3/7/2024-11.4%-22.3%-15.5%
11/30/2023-5.3%-6.4%4.4%
...
SUMMARY STATS   
# Positive688
# Negative121010
Median Positive13.4%7.3%19.4%
Median Negative-6.1%-11.4%-15.5%
Max Positive32.4%26.7%25.9%
Max Negative-19.8%-22.5%-38.3%

SEC Filings

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Report DateFiling DateFiling
7312025829202510-Q 8/2/2025
4302025530202510-Q 5/3/2025
1312025312202510-K 2/1/2025
103120241204202410-Q 11/2/2024
7312024830202410-Q 8/3/2024
4302024531202410-Q 5/4/2024
1312024313202410-K 2/3/2024
103120231201202310-Q 10/28/2023
7312023825202310-Q 7/29/2023
4302023526202310-Q 4/29/2023
1312023309202310-K 1/28/2023
103120221202202210-Q 10/29/2022
7312022826202210-Q 7/30/2022
4302022527202210-Q 4/30/2022
1312022310202210-K 1/29/2022
103120211203202110-Q 10/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Casper MarkEVP & Chief Legal Officer7212025Sell72.353,000217,0501,241,743Form
1Meintjes Willem AChief Financial Officer6162025Sell68.521,500102,7808,314,765Form
2Dixon PantehaChief Accounting Officer6162025Sell68.501,28387,8862,025,682Form
3Koopmans ChrisChief Operating Officer5152025Sell65.106,000390,6005,993,431Form
4Meintjes Willem AChief Financial Officer5152025Sell64.751,50097,1257,954,408Form