Marvell Technology MRVL

Data center chips. Marvell Technology, Inc., listed on NASDAQ.

Based on the FY2026 annual report (Feb 2025 – Jan 2026)

Marvell Technology's market cap is
about $123.0 billion.

#90 by market cap among 289 companies, based on the Nov 5, 2026 close. FY2026 revenue was $8.1946B.

Share price (close): $133.55; Close on Nov 5, 2026 · per share
P/E ratio: 43.5x; Closing price ÷ latest annual EPS
Market cap: $123.0B; #90 of 289
Revenue: $8.1946B; #239 of 299 · +42.1% YoY
Operating income: $1.3229B; #193 of 231 · +283.7% YoY
Net income: $2.6701B; #154 of 298 · +401.7% YoY
Free cash flow: $1.3964B; #194 of 261 · −0.0% YoY
Total assets: $22.2853B; #223 of 299 · +10.3% YoY
Dividends paid: $205.1M; #199 of 214 · −1.2% YoY
Dividend per share: $0.24; #199 of 205 · +0.0% YoY
Dividend yield: 0.2%; #193 of 203
Shares outstanding: 847,300,000 shares; As of Jan 31, 2026

Size, put in perspective

Revenue every second$260$22.5M a day

Net income every second$85$7.32M a day

Buying Qualcomm with a year's profit1.6% of itBased on Qualcomm's market cap of about $168.0 billion

Market cap vs Qualcomm0.7×Marvell Technology ÷ Qualcomm

Calculated from the FY2026 annual report, spread evenly over 365 days.

Where the revenue went

Revenue is set at 100% and split into what went to costs, R&D, operating expenses and taxes, and what was left as profit.

Cost of revenue49.0%
R&D25.3%
SG&A and other9.6%
Net income32.6%

Non-operating gains such as investment income (16.4% of revenue) were added, so net income is larger than operating income.

Profitability and stability

Each figure comes with its rank among 300 companies. The further right the dot, the higher the rank.

Revenue growthHow much revenue grew from the previous fiscal year: +42.1%; #13 of 299; Revenue grew sharply over the year. The median across 299 companies is +7.9%.
Operating marginShare of revenue kept as profit from the core business: 16.1%; #142 of 231; 16.1% of revenue was kept as operating profit. The median across 231 companies is 19.2%.
Net marginShare of revenue left as profit after interest and taxes: 32.6%; #25 of 298; After taxes, 32.6% of revenue was left as net income. The median across 298 companies is 14.0%.
FCF marginShare of revenue left as cash after capital spending: 17.0%; #121 of 261; Cash is left over after capital spending. The median across 261 companies is 15.8%.
ROEHow much profit the company earned on shareholders' equity in a year: 19.2%; #123 of 276; Earnings relative to equity are about average. The median across 276 companies is 16.8%.
Debt-to-equityLiabilities relative to equity. Lower means less debt: 55.8%; #25 of 244; Liabilities are smaller than equity. The median across 244 companies is 159.6%.

Revenue and profit over time

Gray bars show revenue and the green part inside shows net income. The number above each bar is revenue (abbreviated) and the number below is net margin. Hover over a bar to see the exact amounts.

Currency: US dollars. Years are the years in which each fiscal year ended.

Where the cash went

Unlike profit, cash flow is money that actually came in and went out.

Cash from operations$1.7505B
Capital spending−$354.1M
Free cash flow (FCF)$1.3964B
Dividends paid−$205.1M

Whose money funds the assets

The company's assets, split into borrowed money (liabilities) and shareholders' money (equity).

Liabilities 36%Equity 64%

Total assets$22.2853B
Total liabilities$7.9769B
Total equity$14.3084B
Cash and equivalents$2.6388B

Compared with similar companies

Based on each company's latest annual report, so fiscal year ends may differ.

Compare in detail

Company	Annual revenue	Net income	Revenue growth	Operating margin	Net margin
Marvell TechnologyMRVL	$8.1946B	$2.6701B	+42.1%	16.1%	32.6%
QualcommQCOM	$43.12B	$13.628B	−2.6%	20.1%	31.6%
Analog DevicesADI	$11.019707B	$2.267342B	+16.9%	26.6%	20.6%
Texas InstrumentsTXN	$17.682B	$5.001B	+13.1%	34.1%	28.3%
Monolithic Power SystemsMPWR	$2.790459B	$621.483M	+26.4%	26.1%	22.3%

What the company does

Marvell designs custom AI chips and optical and networking chips for data centers.

The fiscal year ends around January each year.

Financial statements

Last 5 fiscal years. Currency: US dollars.

Show the table

Item	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	4.4624B	5.9196B	5.5077B	5.7673B	8.1946B
Cost of revenue	2.3982B	2.9321B	3.2141B	3.3851B	4.0139B
Gross profit	2.0642B	2.9875B	2.2936B	2.3822B	4.1807B
R&D expense	1.4242B	1.7843B	1.8962B	1.9504B	2.0752B
Operating income	−347.7M	238M	−567.7M	−720.3M	1.3229B
Pretax income	−483.5M	85.1M	−758.7M	−894.7M	3.0466B
Net income	−421M	−163.5M	−933.4M	−885M	2.6701B
EPS (diluted)	$-0.53	$-0.19	$-1.08	$-1.02	$3.07
Operating cash flow	819.3M	1.2888B	1.3705B	1.6812B	1.7505B
Capital expenditures	169.2M	206.2M	336.3M	284.6M	354.1M
Free cash flow (FCF)	650.1M	1.0826B	1.0342B	1.3966B	1.3964B
Dividends paid	191M	204.4M	206.8M	207.5M	205.1M
Total assets	22.1086B	22.5221B	21.2285B	20.2045B	22.2853B
Total liabilities	6.4065B	6.8849B	6.3971B	6.7775B	7.9769B
Total equity	15.7021B	15.6372B	14.8314B	13.427B	14.3084B
Cash and equivalents	613.5M	911M	950.8M	948.3M	2.6388B
Original filing	10-K	10-K	10-K	10-K	10-K

Source: SEC EDGAR filings for Marvell Technology, Inc. · CIK 0001835632 · US-GAAP