Marvell Technology, Inc., together with its subsidiaries, provides data infrastructure semiconductor solutions and spanning the data center core to network edge in the United States, Argentina, China, India, Israel, Japan, Singapore, South Korea, Taiwan, Vietnam, and internationally. The company develops and scales system-on-a-chip architectures, integrating analog, mixed-signal, and digital signal processing functionality. It offers a portfolio of ethernet solutions, including spanning controllers, network adapters, physical transceivers, and switches; single or multiple core processors; and custom application specific integrated circuits, interconnects, fibre channel adapters, and processors. The company also provides interconnect products, including pulse amplitude modulation, coherent and coherent-lite digital signal processors (DSPs), laser drivers, trans-impedance amplifiers, silicon photonics, co-packaged optics, linear pluggable optics chipsets, data center interconnect, active electrical cable DSPs and peripheral component interconnect express retimer solutions; fibre channel products comprising host bus adapters and controllers for server and storage system connectivity; storage controllers for hard disk drives and solid-state-drives; host system interfaces, including serial advanced technology attachment and serial attached SCSI, peripheral component interconnect express, compute express link switches, non-volatile memory express (NVMe), and NVMe over fabrics; and develops ultra accelerator linkTM switches and ethernet for scale-up networking switches. The company serves data centers, communications, and other markets. It offers its products through direct customers and distributors. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2026
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2026 | $8.2B | $4.5B | $2.7B | $1.4B | 18.7% | 42.1% | -401.7% |
| 2025 | $5.8B | $652M | $-885M | $1.4B | -6.6% | 4.7% | -5.2% |
| 2024 | $5.5B | $851M | $-933M | $1.0B | -6.3% | -7.0% | 470.9% |
| 2023 | $5.9B | $1.6B | $-164M | $1.1B | -1.0% | - | - |
| 2022 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 5,919.60 | 5,507.70 | 5,767.30 | 8,194.60 |
| Cost Of Revenue | - | 2,932.10 | 3,214.10 | 3,385.10 | 4,013.90 |
| Gross Profit | - | 2,987.50 | 2,293.60 | 2,382.20 | 4,180.70 |
| Operating Expense | - | 2,627.90 | 2,730.20 | 2,748.60 | 2,842.30 |
| Operating Income | - | 359.60 | -436.60 | -366.40 | 1,338.40 |
| EBITDA | - | 1,648 | 850.70 | 651.60 | 4,539.80 |
| EBIT | - | 255.70 | -547 | -705.30 | 3,249.20 |
| Pretax Income | - | 85.10 | -758.70 | -894.70 | 3,046.60 |
| Tax Provision | - | 248.60 | 174.70 | -9.70 | 376.50 |
| Net Income | - | -163.50 | -933.40 | -885 | 2,670.10 |
| Net Income Common Stockholders | - | -163.50 | -933.40 | -885 | 2,670.10 |
| Total Expenses | - | 5,560 | 5,944.30 | 6,133.70 | 6,856.20 |
| Interest Expense | - | 170.60 | 211.70 | 189.40 | 202.60 |
| Interest Income | - | 17.70 | 20.70 | 15 | 1,926.30 |
| Research And Development | - | 1,784.30 | 1,896.20 | 1,950.40 | 2,075.20 |
| Selling General And Administration | - | 843.60 | 834 | 798.20 | 767.10 |
| Normalized EBITDA | - | 1,769.60 | 981.80 | 1,005.50 | 4,555.30 |
| Normalized Income | - | -67.44 | -829.83 | -534.94 | 2,683.68 |
| Market Cap | 143,682 | 143,682 | 143,682 | 143,682 | 143,682 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Marvell Technology, Inc.this co. | MRVL | $141.5B | 53.81β premium | 10.04 | 18.7% | 32.12 |
| Salesforce, Inc. | CRM | $169.2B | 19.54 | 2.46 | 12.6% | 12.40 |
| QUALCOMM Incorporated | QCOM | $163.5B | 28.69 | 7.50 | 26.1% | 11.27 |
| Uber Technologies, Inc. | UBER | $155.6B | 15.28 | 5.68 | 37.2% | 22.70 |
| Corning Incorporated | GLW | $150.1B |
| - |
| - |
| - |
| - |
| - |
| - |
| 94.67 |
| 12.80 |
| 13.5% |
| 42.56 |
| Dell Technologies Inc. | DELL | $143.2B | 23.67 | -56.88 | -240.3% | 13.54 |
| Western Digital Corporation | WDC | $141.6B | 74.22 | 26.01 | 35.0% | 72.61 |
| Palo Alto Networks, Inc. | PANW | $118.4B | 127.70 | 18.51 | 14.5% | 73.60 |
| Accenture plc | ACN | $111.5B | 14.30 | 3.52 | 24.6% | 8.97 |
| Peer Median | - | 26.18 | 6.59 | 19.6% | 18.12 | |