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Stocks · Technology · Semiconductors & Related Devices

Marvell Technology

MRVL Clue Score64
United States Fiscal year ends January CIK 0001835632
$275.28 +0.23% Close, 9 Oct 2026
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Price $275.28 +333.92% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2020Revenue2.70Operating income−0.24Net income1.58EPS, diluted2.34Fiscal year 2021Revenue2.97 +10.0%Operating income−0.26Net income−0.28 −117.5%EPS, diluted−0.41 −117.5%Fiscal year 2022Revenue4.46 +50.3%Operating income−0.35Net income−0.42EPS, diluted−0.53Fiscal year 2023Revenue5.92 +32.7%Operating income0.24Net income−0.16EPS, diluted−0.19Fiscal year 2024Revenue5.51 −7.0%Operating income−0.57Net income−0.93EPS, diluted−1.08Fiscal year 2025Revenue5.77 +4.7%Operating income−0.72Net income−0.89EPS, diluted−1.02Fiscal year 2026Revenue8.19 +42.1%Operating income1.32Net income2.67EPS, diluted3.07
FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 2.70 2.97 4.46 5.92 5.51 5.77 8.19
Growth +10.0% +50.3% +32.7% −7.0% +4.7% +42.1%
Operating income −0.24 −0.26 −0.35 0.24 −0.57 −0.72 1.32
Net income 1.58 −0.28 −0.42 −0.16 −0.93 −0.89 2.67
Growth −117.5%
EPS, diluted 2.34 −0.41 −0.53 −0.19 −1.08 −1.02 3.07
Growth −117.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2020Gross margin50.3%Operating margin−9.0%Net margin58.7%Free cash flow margin10.3%Fiscal year 2021Gross margin50.1%Operating margin−8.7%Net margin−9.3%Free cash flow margin23.9%Fiscal year 2022Gross margin46.3%Operating margin−7.8%Net margin−9.4%Free cash flow margin14.6%Fiscal year 2023Gross margin50.5%Operating margin4.0%Net margin−2.8%Free cash flow margin18.3%Fiscal year 2024Gross margin41.6%Operating margin−10.3%Net margin−16.9%Free cash flow margin18.8%Fiscal year 2025Gross margin41.3%Operating margin−12.5%Net margin−15.3%Free cash flow margin24.2%Fiscal year 2026Gross margin51.0%Operating margin16.1%Net margin32.6%Free cash flow margin17.0%
FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 50.3% 50.1% 46.3% 50.5% 41.6% 41.3% 51.0%
Operating margin −9.0% −8.7% −7.8% 4.0% −10.3% −12.5% 16.1%
Net margin 58.7% −9.3% −9.4% −2.8% −16.9% −15.3% 32.6%
Free cash flow margin 10.3% 23.9% 14.6% 18.3% 18.8% 24.2% 17.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2020Operating cash flow0.36Capital expenditure−0.08Free cash flow0.28Buybacks−0.36Dividends paid−0.16Fiscal year 2021Operating cash flow0.82Capital expenditure−0.11Free cash flow0.71 +155.2%Buybacks−0.03Dividends paid−0.16Fiscal year 2022Operating cash flow0.82Capital expenditure−0.17Free cash flow0.65 −8.5%Buybacks0.00Dividends paid−0.19Fiscal year 2023Operating cash flow1.29Capital expenditure−0.21Free cash flow1.08 +66.5%Buybacks−0.12Dividends paid−0.20Fiscal year 2024Operating cash flow1.37Capital expenditure−0.34Free cash flow1.03 −4.5%Buybacks−0.15Dividends paid−0.21Fiscal year 2025Operating cash flow1.68Capital expenditure−0.28Free cash flow1.40 +35.0%Buybacks−0.73Dividends paid−0.21Fiscal year 2026Operating cash flow1.75Capital expenditure−0.35Free cash flow1.40 −0.0%Buybacks−2.04Dividends paid−0.21
FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 0.36 0.82 0.82 1.29 1.37 1.68 1.75
Capital expenditure −0.08 −0.11 −0.17 −0.21 −0.34 −0.28 −0.35
Free cash flow 0.28 0.71 0.65 1.08 1.03 1.40 1.40
Growth +155.2% −8.5% +66.5% −4.5% +35.0% −0.0%
Buybacks −0.36 −0.03 0.00 −0.12 −0.15 −0.73 −2.04
Dividends paid −0.16 −0.16 −0.19 −0.20 −0.21 −0.21 −0.21

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2020Cash0.65Shareholders’ equity8.68Fiscal year 2021Cash0.75Total debt1.19Net cash (debt)−0.44Shareholders’ equity8.44Debt to equity0.14Fiscal year 2022Cash0.61Total debt4.55Net cash (debt)−3.93Shareholders’ equity15.70Debt to equity0.29Fiscal year 2023Cash0.91Total debt4.49Net cash (debt)−3.58Shareholders’ equity15.64Debt to equity0.29Fiscal year 2024Cash0.95Total debt4.06Net cash (debt)−3.11Shareholders’ equity14.83Debt to equity0.27Fiscal year 2025Cash0.95Total debt3.93Net cash (debt)−2.99Shareholders’ equity13.43Debt to equity0.29Fiscal year 2026Cash2.64Total debt4.47Net cash (debt)−1.83Shareholders’ equity14.31Debt to equity0.31
FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 0.65 0.75 0.61 0.91 0.95 0.95 2.64
Total debt n/a 1.19 4.55 4.49 4.06 3.93 4.47
Net cash (debt) n/a −0.44 −3.93 −3.58 −3.11 −2.99 −1.83
Shareholders’ equity 8.68 8.44 15.70 15.64 14.83 13.43 14.31
Debt to equity n/a 0.14 0.29 0.29 0.27 0.29 0.31

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending January, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2020 1 Feb 2020 FY2021 30 Jan 2021 FY2022 29 Jan 2022 FY2023 28 Jan 2023 FY2024 3 Feb 2024 FY2025 1 Feb 2025 FY2026 31 Jan 2026
Revenue and profit
2.70 2.97 4.46 5.92 5.51 5.77 8.19
Growth +10.0% +50.3% +32.7% −7.0% +4.7% +42.1%
1.34 1.48 2.40 2.93 3.21 3.39 4.01
1.36 1.49 2.06 2.99 2.29 2.38 4.18
Growth +9.7% +38.7% +44.7% −23.2% +3.9% +75.5%
1.08 1.07 1.42 1.78 1.90 1.95 2.08
n/a n/a 0.96 0.84 0.83 0.80 0.77
−0.24 −0.26 −0.35 0.24 −0.57 −0.72 1.32
Growth −338.5%
0.80 −0.32 −0.48 0.09 −0.76 −0.89 3.05
−0.79 −0.04 −0.06 0.25 0.17 −0.01 0.38
1.58 −0.28 −0.42 −0.16 −0.93 −0.89 2.67
Growth −117.5%
Per share
2.38 −0.41 −0.53 −0.19 −1.08 −1.02 3.10
2.34 −0.41 −0.53 −0.19 −1.08 −1.02 3.07
Growth −117.5%
664.7 668.8 796.9 851.4 861.3 865.5 861.0
676.1 668.8 796.9 851.4 861.3 865.5 869.7
Growth −1.1% +19.2% +6.8% +1.2% +0.5% +0.5%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 22.5% a year over five years.
  • The diluted share count rose 30.0% in five years, which is dilution.
  • Operating margin is up 24.8 points on five years ago, at 16.1%.
  • A net loss in 5 of 7 years on file.