MRVL - Marvell Technology, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$117.00
DETAILS
HIGH:
$156.00
LOW:
$80.00
MEDIAN:
$117.00
CONSENSUS:
$117.00
UPSIDE:
45.41%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 5,767.3 | 5,507.7 | 5,919.6 | 4,462.4 | 2,968.9 | 2,699.2 | 2,865.8 | 2,409.2 | 2,301.0 | 2,649.2 |
| Cost of Revenue | 3,385.1 | 3,214.1 | 2,932.1 | 2,398.2 | 1,480.6 | 1,342.2 | 1,407.4 | 947.2 | 1,011.4 | 1,361.0 |
| Gross Profit | 2,382.2 | 2,293.6 | 2,987.5 | 2,064.2 | 1,488.3 | 1,356.9 | 1,458.4 | 1,461.9 | 1,289.6 | 1,288.2 |
| Operating Expenses | ||||||||||
| R&D Expenses | 1,950.4 | 1,896.2 | 1,784.3 | 1,424.2 | 1,072.7 | 1,080.4 | 914.0 | 720.2 | 806.2 | 994.4 |
| SG&A Expenses | 798.2 | 834.0 | 843.6 | 955.3 | 467.2 | 464.6 | 370.7 | 239.5 | 251.4 | 269.4 |
| Other Expenses | 353.9 | 131.1 | 121.6 | 32.4 | 206.8 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Operating Expenses | 3,102.5 | 2,861.3 | 2,749.5 | 2,411.9 | 1,746.7 | 1,539.7 | 1,284.7 | 959.7 | 1,057.6 | 1,263.8 |
| Operating Income | ||||||||||
| Operating Income | (720.3) | (567.7) | 238.0 | (347.7) | (258.4) | (182.7) | 173.7 | 502.2 | 232.0 | 24.4 |
| Interest Expense | 189.4 | 211.7 | 170.6 | 139.3 | 69.3 | 85.6 | 60.4 | 0.7 | 0.4 | 0.7 |
| Interest Income | 15.0 | 20.7 | 17.7 | 0.8 | 2.6 | 4.8 | 11.9 | 17.4 | 13.2 | 16.0 |
| Profitability | ||||||||||
| EBITDA | 651.6 | 850.7 | 1,648.0 | 901.1 | 388.6 | 1,408.8 | 363.0 | 538.9 | 266.3 | (644.2) |
| EBIT | (705.3) | (547.0) | 255.7 | (344.2) | (252.9) | 884.0 | 55.7 | 451.9 | 147.8 | (757.1) |
| Income Before Tax | (894.7) | (758.7) | 85.1 | (483.5) | (322.2) | 798.4 | (4.6) | 451.2 | 147.4 | (757.8) |
| Income Tax Expense | (9.7) | 174.7 | 248.6 | (62.5) | (44.9) | (786.0) | 174.4 | 18.1 | 72.6 | 11.3 |
| Net Income | (885.0) | (933.4) | (163.5) | (421.0) | (277.3) | 1,584.4 | (179.1) | 432.4 | 21.2 | (811.4) |
| Per Share Data | ||||||||||
| EPS (Basic) | -1.02 | -1.08 | -0.19 | -0.53 | -0.41 | 2.38 | -0.30 | 0.87 | 0.04 | -1.59 |
| EPS (Diluted) | -1.02 | -1.08 | -0.19 | -0.53 | -0.41 | 2.34 | -0.30 | 0.85 | 0.04 | -1.59 |
| Shares Outstanding | 865.5 | 861.3 | 851.4 | 796.9 | 668.8 | 664.7 | 591.2 | 498.0 | 509.7 | 509.3 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 948.3 | 950.8 | 911.0 | 613.5 | 748.5 | 647.6 | 582.4 | 888.5 | 814.1 | 1,278.2 |
| Short-Term Investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 952.8 | 854.3 | 1,004.6 |
| Net Receivables | 1,028.4 | 1,121.6 | 1,192.2 | 1,048.6 | 536.7 | 492.3 | 493.1 | 280.4 | 335.4 | 323.3 |
| Inventory | 1,029.7 | 864.4 | 1,068.3 | 720.3 | 268.2 | 323.0 | 276.0 | 170.0 | 170.8 | 201.0 |
| Other Current Assets | 113.9 | 125.9 | 109.6 | (0.0) | 0.0 | 0.0 | 0.0 | 30.8 | 57.1 | 45.1 |
| Total Current Assets | 3,120.3 | 3,062.7 | 3,281.1 | 2,493.4 | 1,617.1 | 1,537.5 | 1,395.3 | 2,364.0 | 2,290.4 | 2,954.7 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 1,036.5 | 959.6 | 788.7 | 604.8 | 427.5 | 468.0 | 319.0 | 202.2 | 243.4 | 296.8 |
| Goodwill | 11,586.9 | 11,586.9 | 11,586.9 | 11,511.1 | 5,337.0 | 5,337.4 | 5,494.5 | 1,993.3 | 1,993.3 | 2,003.4 |
| Intangible Assets | 3,111.9 | 4,354.7 | 5,541.5 | 6,643.6 | 2,512.9 | 3,042.2 | 2,686.0 | 87.5 | 69.6 | 73.2 |
| Long-Term Investments | 48.2 | 45.8 | 36.1 | 30.7 | 7.6 | 0.0 | 0.0 | 2.2 | 10.4 | 17.1 |
| Other Non-Current Assets | 899.5 | 906.9 | 821.9 | 331.5 | 190.3 | 108.3 | 109.6 | 38.4 | 14.9 | 62.5 |
| Total Non-Current Assets | 17,084.2 | 18,165.8 | 19,241.0 | 19,615.2 | 9,147.8 | 9,595.7 | 8,621.5 | 2,344.3 | 2,358.2 | 2,487.5 |
| Total Assets | 20,204.5 | 21,228.5 | 22,522.1 | 22,108.6 | 10,764.9 | 11,133.2 | 10,016.8 | 4,708.3 | 4,648.6 | 5,442.1 |
| Current Liabilities | ||||||||||
| Account Payables | 622.2 | 411.3 | 465.8 | 461.5 | 252.4 | 213.7 | 185.4 | 145.2 | 143.5 | 180.4 |
| Short-Term Debt | 129.5 | 107.3 | 584.4 | 63.2 | 199.6 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Deferred Revenue | 22.1 | 43.2 | 45.2 | 39.0 | 16.1 | 117.1 | 142.4 | 61.2 | 64.0 | 54.0 |
| Other Current Liabilities | 331.9 | 360.9 | 366.5 | 321.0 | 276.8 | 211.6 | 129.4 | 127.7 | 145.5 | 123.4 |
| Total Current Liabilities | 2,026.8 | 1,814.2 | 2,386.7 | 1,388.6 | 1,077.1 | 710.2 | 636.8 | 421.1 | 496.4 | 1,225.8 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 3,934.3 | 4,058.6 | 3,907.7 | 4,484.8 | 993.2 | 1,439.0 | 1,732.7 | 0.0 | 0.0 | 0.0 |
| Deferred Tax Liabilities | 33.8 | 58.7 | 64.2 | 34.5 | 22.4 | 31.2 | 246.3 | 52.2 | 38.8 | 1.1 |
| Other Non-Current Liabilities | 551.6 | 269.6 | 324.7 | 358.3 | 132.1 | 158.5 | 94.6 | 93.5 | 85.8 | 75.1 |
| Total Non-Current Liabilities | 4,750.7 | 4,582.9 | 4,498.2 | 5,017.9 | 1,252.0 | 1,744.5 | 2,073.5 | 145.7 | 124.6 | 76.2 |
| Total Liabilities | 6,777.5 | 6,397.1 | 6,884.9 | 6,406.5 | 2,329.1 | 2,454.7 | 2,710.3 | 566.9 | 621.0 | 1,302.0 |
| Stockholders' Equity | ||||||||||
| Common Stock | 1.7 | 1.7 | 1.7 | 1.7 | 1.4 | 1.3 | 1.3 | 1.0 | 1.0 | 1.0 |
| Retained Earnings | (1,109.2) | (16.7) | 1,123.5 | 1,491.4 | 2,103.4 | 2,541.3 | 1,116.5 | 1,409.5 | 1,009.8 | 1,111.0 |
| Accumulated Other Comprehensive Income | 0.4 | 1.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (2.3) | 0.0 | (0.8) |
| Total Stockholders' Equity | 13,427.0 | 14,831.4 | 15,637.2 | 15,702.1 | 8,435.8 | 8,678.6 | 7,306.4 | 4,141.4 | 4,027.7 | 4,140.1 |
| Total Liabilities & Equity | 20,204.5 | 21,228.5 | 22,522.1 | 22,108.6 | 10,764.9 | 11,133.2 | 10,016.8 | 4,708.3 | 4,648.6 | 5,442.1 |
| Debt Metrics | ||||||||||
| Total Debt | 4,343.1 | 4,401.3 | 4,737.5 | 4,726.5 | 1,329.7 | 1,583.5 | 1,732.7 | 0.0 | 0.0 | 0.0 |
| Net Debt | 3,394.8 | 3,450.5 | 3,826.5 | 4,113.0 | 581.2 | 935.9 | 1,150.3 | (888.5) | (814.1) | (1,278.2) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | (885.0) | (933.4) | (163.5) | (421.0) | (277.3) | 1,584.4 | (179.1) | 520.8 | 21.2 | (811.4) |
| Depreciation & Amortization | 1,356.9 | 1,397.7 | 1,392.3 | 1,245.3 | 641.5 | 524.7 | 307.3 | 87.1 | 118.5 | 112.9 |
| Stock-Based Compensation | 597.4 | 609.8 | 552.4 | 460.7 | 241.5 | 242.2 | 184.1 | 86.7 | 114.0 | 133.8 |
| Change in Working Capital | 129.1 | 57.8 | (649.8) | (662.9) | 67.9 | (190.8) | (74.4) | (44.1) | (709.2) | 734.2 |
| Other Non-Cash Items | 594.7 | 87.8 | 107.0 | 291.1 | 183.2 | (1,015.1) | 240.3 | (99.1) | 52.6 | 29.8 |
| Operating Cash Flow | 1,681.2 | 1,370.5 | 1,288.8 | 819.3 | 817.3 | 360.3 | 596.7 | 571.1 | (358.4) | 205.4 |
| Investing Activities | ||||||||||
| Capital Expenditure | (291.6) | (350.2) | (217.3) | (186.9) | (119.5) | (86.6) | (87.5) | (45.1) | (54.8) | (55.7) |
| Acquisitions | (10.4) | 0.0 | (112.3) | (3,555.0) | 0.0 | 627.7 | (2,652.8) | 2.4 | 0.0 | (0.0) |
| Purchases of Investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (40.0) | (1,135.5) | (764.9) | (1,056.0) |
| Sales/Maturities of Investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 18.8 | 986.9 | 1,033.2 | 981.3 | 1,303.5 |
| Other Investing Activities | (5.7) | (14.2) | (9.9) | (20.9) | (12.8) | (5.8) | 29.3 | 178.0 | (10.3) | 1.8 |
| Investing Cash Flow | (300.7) | (350.5) | (328.4) | (3,745.1) | (119.6) | 558.8 | (1,752.6) | 39.5 | 161.6 | 201.7 |
| Financing Activities | ||||||||||
| Net Debt Issuance | (109.4) | (327.2) | (65.6) | 3,188.1 | (250.0) | (300.0) | 1,136.5 | 0.0 | 0.0 | 0.0 |
| Stock Repurchased | (725.0) | (150.0) | (115.0) | 0.0 | (25.2) | (364.3) | (104.0) | (527.6) | (181.6) | (260.9) |
| Dividends Paid | (207.5) | (206.8) | (204.4) | (191.0) | (160.6) | (159.6) | (148.1) | (119.3) | (122.3) | (122.8) |
| Other Financing Activities | (341.1) | (296.2) | (277.9) | (206.3) | (161.0) | (30.1) | (34.7) | 110.6 | 36.6 | 43.9 |
| Financing Cash Flow | (1,383.0) | (980.2) | (662.9) | 2,790.8 | (596.8) | (853.9) | 849.7 | (536.2) | (267.2) | (339.8) |
| Cash Position | ||||||||||
| Net Change in Cash | (2.5) | 39.8 | 297.5 | (135.0) | 100.9 | 65.2 | (306.1) | 74.4 | (464.1) | 67.2 |
| Cash at Beginning | 950.8 | 911.0 | 613.5 | 748.5 | 647.6 | 582.4 | 888.5 | 814.1 | 1,278.2 | 1,211.0 |
| Cash at End | 948.3 | 950.8 | 911.0 | 613.5 | 748.5 | 647.6 | 582.4 | 888.5 | 814.1 | 1,278.2 |
| Free Cash Flow | 1,389.6 | 1,020.3 | 1,071.5 | 632.4 | 697.8 | 273.7 | 509.3 | 526.0 | (413.3) | 149.6 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 5,767.3 | 5,507.7 | 5,919.6 | 4,462.4 | 2,968.9 | 2,699.2 | 2,865.8 | 2,409.2 | 2,301.0 | 2,649.2 |
| Gross Profit | 2,382.2 | 2,293.6 | 2,987.5 | 2,064.2 | 1,488.3 | 1,356.9 | 1,458.4 | 1,461.9 | 1,289.6 | 1,288.2 |
| Operating Income | (720.3) | (567.7) | 238.0 | (347.7) | (258.4) | (182.7) | 173.7 | 502.2 | 232.0 | 24.4 |
| Net Income | (885.0) | (933.4) | (163.5) | (421.0) | (277.3) | 1,584.4 | (179.1) | 432.4 | 21.2 | (811.4) |
| EPS (Diluted) | -1.02 | -1.08 | -0.19 | -0.53 | -0.41 | 2.34 | -0.30 | 0.85 | 0.04 | -1.59 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 948.3 | 950.8 | 911.0 | 613.5 | 748.5 | 647.6 | 582.4 | 888.5 | 814.1 | 1,278.2 |
| Total Assets | 20,204.5 | 21,228.5 | 22,522.1 | 22,108.6 | 10,764.9 | 11,133.2 | 10,016.8 | 4,708.3 | 4,648.6 | 5,442.1 |
| Total Debt | 4,343.1 | 4,401.3 | 4,737.5 | 4,726.5 | 1,329.7 | 1,583.5 | 1,732.7 | 0.0 | 0.0 | 0.0 |
| Stockholders' Equity | 13,427.0 | 14,831.4 | 15,637.2 | 15,702.1 | 8,435.8 | 8,678.6 | 7,306.4 | 4,141.4 | 4,027.7 | 4,140.1 |
| Cash Flow | ||||||||||
| Operating Cash Flow | 1,681.2 | 1,370.5 | 1,288.8 | 819.3 | 817.3 | 360.3 | 596.7 | 571.1 | (358.4) | 205.4 |
| Capital Expenditure | (291.6) | (350.2) | (217.3) | (186.9) | (119.5) | (86.6) | (87.5) | (45.1) | (54.8) | (55.7) |
| Free Cash Flow | 1,389.6 | 1,020.3 | 1,071.5 | 632.4 | 697.8 | 273.7 | 509.3 | 526.0 | (413.3) | 149.6 |