MRVL

MKT CAP:$143B

Marvell Technology, Inc.

Market Cap

$143B

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$163.97+$74.58 (+83.43%)

Apr 24, 2026

Company Details

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 ...

CEO

Matthew J. Murphy

IPO Date

Jun 30, 2000

Website

www.marvell.com

Key Metrics TTM

Revenue

$8.2B

+42.1% YoY

Net Income

$2.7B

EPS (Diluted)

$3.07

Free Cash Flow

$1.4B

Revenue / Share

$9.57

Gross Margin

50.1%

Operating Margin

16.3%

Net Margin

32.6%

FCF Margin

17.0%

P/S

17.5x

P/E

53.7x

Earnings Reports

FY 2026

Mar 11, 2026

$8.2B+42.1%EPS $3.07

Q4 2026

Mar 11, 2026

$2.2B+22.1%EPS $0.46

Q3 2026

Dec 3, 2025

$2.1B+36.8%EPS $2.19

Q2 2026

Aug 29, 2025

$2.0B+57.6%EPS $0.22

Q1 2026

May 30, 2025

$1.9B+63.3%EPS $0.20

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 23	$1.4B	$751M	$70M
Q2 23	$1.5B	$786M	$39M
Q3 23	$1.5B	$777M	$106M
Q4 23	$1.4B	$673M	$23M
Q1 24	$1.3B	$557M	-$182M
Q2 24	$1.3B	$521M	-$206M
Q3 24	$1.4B	$551M	-$146M
Q4 24	$1.4B	$664M	-$33M
Q1 25	$1.2B	$528M	-$152M
Q2 25	$1.3B	$588M	-$100M
Q3 25	$1.5B	$349M	-$703M
Q4 25	$1.8B	$917M	$235M
Q1 26	$1.9B	$952M	$271M
Q2 26	$2.0B	$1.0B	$290M
Q3 26	$2.1B	$1.1B	$358M
Q4 26	$2.2B	$1.1B	$414M

Valuation

Quarter	P/S	P/E
Q1 23	10.1x	—
Q2 23	8.5x	—
Q3 23	5.8x	—
Q4 23	6.1x	—
Q1 24	5.9x	—
Q2 24	10.0x	—
Q3 24	7.4x	—
Q4 24	11.0x	—
Q1 25	11.3x	—
Q2 25	9.5x	—
Q3 25	13.6x	—
Q4 25	17.0x	—
Q1 26	8.2x	—
Q2 26	9.1x	—
Q3 26	10.0x	31.5x
Q4 26	8.3x	25.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$195M	$156M
Q2 23	$332M	$256M
Q3 23	$411M	$363M
Q4 23	$352M	$296M
Q1 24	$208M	$106M
Q2 24	$113M	$1M
Q3 24	$503M	$448M
Q4 24	$547M	$465M
Q1 25	$325M	$233M
Q2 25	$306M	$253M
Q3 25	$536M	$461M
Q4 25	$514M	$443M
Q1 26	$333M	$213M
Q2 26	$462M	$413M
Q3 26	$582M	$509M
Q4 26	$374M	$259M

Capital Expenditures

Quarter	CapEx
Q1 23	$39M
Q2 23	$75M
Q3 23	$48M
Q4 23	$56M
Q1 24	$103M
Q2 24	$111M
Q3 24	$55M
Q4 24	$82M
Q1 25	$92M
Q2 25	$53M
Q3 25	$76M
Q4 25	$71M
Q1 26	$120M
Q2 26	$49M
Q3 26	$74M
Q4 26	$114M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+73.8%	+50.6%
Q2 23	+41.0%	+10.1%
Q3 23	+26.9%	+15.0%
Q4 23	+5.6%	+6.6%
Q1 24	-8.7%	+9.2%
Q2 24	-11.6%	+4.7%
Q3 24	-7.7%	+9.3%
Q4 24	+0.6%	+4.6%
Q1 25	-12.2%	-12.7%
Q2 25	-5.1%	-11.2%
Q3 25	+6.9%	+41.8%
Q4 25	+27.4%	+8.4%
Q1 26	+63.3%	+23.7%
Q2 26	+57.6%	+25.0%
Q3 26	+36.8%	-22.6%
Q4 26	+22.1%	+14.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$131M	9.1%
Q2 23	$145M	9.5%
Q3 23	$146M	9.5%
Q4 23	$131M	9.2%
Q1 24	$143M	10.8%
Q2 24	$153M	11.4%
Q3 24	$159M	11.2%
Q4 24	$155M	10.9%
Q1 25	$137M	11.8%
Q2 25	$155M	12.2%
Q3 25	$158M	10.4%
Q4 25	$148M	8.1%
Q1 26	$142M	7.5%
Q2 26	$154M	7.7%
Q3 26	$152M	7.3%
Q4 26	$143M	6.4%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 23	$444M	$236M
Q2 23	$449M	$212M
Q3 23	$448M	$208M
Q4 23	$443M	$203M
Q1 24	$481M	$199M
Q2 24	$475M	$210M
Q3 24	$481M	$213M
Q4 24	$460M	$212M
Q1 25	$476M	$200M
Q2 25	$487M	$197M
Q3 25	$489M	$205M
Q4 25	$499M	$196M
Q1 26	$508M	$186M
Q2 26	$519M	$193M
Q3 26	$513M	$190M
Q4 26	$536M	$123M

Revenue Segments

Quarter	Automotive And Industrial	Carrier Infrastructure	Consumer	Data Center	Enterprise Networking
Q1 24	$89M	$290M	$142M	$436M	$365M
Q2 24	$110M	$276M	$168M	$460M	$328M
Q3 24	$107M	$317M	$169M	$556M	$271M
Q1 25	$78M	$72M	$42M	$816M	$153M
Q2 25	$76M	$76M	$89M	$881M	$151M
Q3 25	$83M	$85M	$97M	$1.1B	$151M
Q1 26	$76M	$138M	$63M	$1.4B	$178M
Q2 26	$76M	$130M	$116M	$1.5B	$194M
Q3 26	$35M	$168M	$117M	$1.5B	$237M

Revenue by Geography

Quarter	China	Japan	Malaysia	Other Countries	Philippines	Singapore	Taiwan	Thailand	United States	Finland
Q1 23	$644M	$67M	$81M	$250M	$52M	$50M	$54M	$99M	$150M	—
Q2 23	$694M	$71M	$114M	$203M	$47M	$67M	$61M	$75M	$185M	—
Q3 23	$604M	$70M	$85M	$212M	$42M	$135M	$89M	$115M	$185M	—
Q1 24	$516M	$44M	$99M	$173M	$12M	$112M	$54M	$45M	$187M	$80M
Q2 24	$569M	$44M	$40M	$164M	—	$71M	$59M	$76M	$203M	$115M
Q3 24	$605M	$38M	$32M	$178M	—	$74M	$23M	$95M	$217M	$158M
Q1 25	$530M	$17M	$53M	$103M	—	$111M	$43M	$65M	$217M	$22M
Q2 25	$587M	$33M	$29M	$91M	$34M	$142M	$39M	$95M	$203M	$20M
Q3 25	$658M	$56M	$40M	$155M	—	$46M	$199M	$73M	$256M	$33M
Q1 26	$709M	$47M	$35M	$139M	—	$163M	$327M	$42M	$305M	$36M
Q2 26	$583M	$53M	$77M	$159M	—	$142M	$541M	$34M	$311M	$51M
Q3 26	$839M	—	—	$623M	—	—	$319M	—	$294M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$465M	$0	$465M
Q2 23	$617M	$0	$617M
Q3 23	$723M	$0	$723M
Q4 23	$911M	$0	$911M
Q1 24	$1.0B	$0	$1.0B
Q2 24	$423M	$0	$423M
Q3 24	$726M	$0	$726M
Q4 24	$951M	$0	$951M
Q1 25	$848M	$0	$848M
Q2 25	$809M	$0	$809M
Q3 25	$868M	$0	$868M
Q4 25	$948M	$0	$948M
Q1 26	$886M	$0	$886M
Q2 26	$1.2B	$0	$1.2B
Q3 26	$2.0B	$686M	$2.7B
Q4 26	$2.6B	$0	$2.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 23	848M	-1.6%	+22.3%
Q2 23	858M	+1.2%	+4.5%
Q3 23	858M	+0.1%	+3.6%
Q4 23	854M	-0.5%	-0.9%
Q1 24	857M	+0.3%	+1.0%
Q2 24	861M	+0.5%	+0.3%
Q3 24	863M	+0.2%	+0.5%
Q4 24	865M	+0.2%	+1.2%
Q1 25	865M	+0.0%	+1.0%
Q2 25	866M	+0.1%	+0.6%
Q3 25	866M	0.0%	+0.4%
Q4 25	866M	-0.0%	+0.1%
Q1 26	876M	+1.2%	+1.2%
Q2 26	870M	-0.6%	+0.5%
Q3 26	870M	-0.1%	+0.5%
Q4 26	856M	-1.6%	-1.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 23	$215.0K	7K
Q2 23	$225.4K	7K
Q3 23	$228.5K	7K
Q4 23	$190.5K	7K
Q1 24	$177.5K	7K
Q2 24	$180.0K	7K
Q3 24	$190.5K	7K
Q4 24	$191.5K	7K
Q1 25	$176.5K	7K
Q2 25	$193.5K	7K
Q3 25	$230.5K	7K
Q4 25	$276.3K	7K
Q1 26	$269.1K	7K
Q2 26	$284.9K	7K
Q3 26	$294.6K	7K
Q4 26	$296.6K	7K

Revenue / Employee