Marvell Technology Inc. (MRVL)

NASDAQ: MRVL · USD

$251

+7.65 (+3.1%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-02

Our latest published analysis: MRVL rated Sell

Marvell Technology Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$124 / share

Potential value

$182 / share

Upside to FV

-53.0%

from $251

Moat

7.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$237.4B
Revenue (ttm)	9.5B
Net income (ttm)	2.6B
EPS (ttm)	$2.98
Shares out	876.9M
P/E (trailing)	84.4x
P/E (forward)	62.1x
Dividend	$0.24 (0.10%)
Volume	10,417,413
Beta	2.26

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 9.5B
Net income (ttm): 2.6B
EPS (ttm): $2.98
P/E (trailing): 84.4x
P/E (forward): 62.1x
Market cap: $237.4B

Item	P1	P2	P3	P4	P5	Trend
Period	2022-01-29	2023-01-28	2024-02-03	2025-02-01	2026-01-31	Trend
Revenue	$4.46B	$5.92B	$5.51B	$5.77B	$8.19B	+16.4%
Gross profit	$2.06B	$2.99B	$2.29B	$2.38B	$4.18B	+19.3%
Operating income	$-347.7M	$238.0M	$-567.7M	$-720.3M	$1.32B	—
Net income	$-421.0M	$-163.5M	$-933.4M	$-885.0M	$2.67B	—
EPS (diluted)	$-0.53	$-0.19	$-1.08	$-1.02	$3.07	—
EBITDA	$901.1M	$1.65B	$850.7M	$651.6M	$4.54B	+49.8%
R&D	$1.42B	$1.78B	$1.90B	$1.95B	$2.08B	+9.9%
SG&A	$955.3M	$843.6M	$834.0M	$798.2M	$767.1M	-5.3%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	매도
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	매도
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	적극 매수
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	보유
ADI	Analog Devices, Inc.	207.6B	50.9x	14.8x	11.0%	+16.4%	+76.9%	매도
AI	C3.ai, Inc.	2B	—	8.4x	-35.6%	+3.6%	-33.6%	매도

Base and Bull scenarios

Base50%

Price target

$124.31

-53.0% from spot

Marvell delivers on management's guided ramp, reaching approximately $12.0 billion in FY2027 and $18.0 billion in FY2028, driven by ~60% data center growth. Non-GAAP operating margins expand to 38.5% in FY2028, while GAAP gross margins remain pressured in the 53%-54% range by custom silicon packaging pass-through costs. Operating earnings expand toward $6.76 per share in FY2028, but growth decelerates in out-years toward steady-state compounder rates.

Consolidated revenue scales to $12.05B in FY2027 and $18.21B in FY2028 in line with guidance,,
Non-GAAP operating margin normalizes at 38.5%-39.0% as fixed opex scales over higher revenue
Terminal growth of 3.5% and exit P/E of 25.0x reflect steady-state compounder maturation

Bull25%

Price target

$181.83

-31.2% from spot

Consolidated revenue surpasses management's FY2028 guidance, exceeding $19.5 billion as custom compute accelerators (XPUs) and 800G/1.6T PAM4 optical DSPs expand across multiple tier-1 hyperscalers beyond Customer A. Non-GAAP operating margins reach the top end of the 38%-40% long-term target, delivering robust cash generation and earnings expansion.

FY2028 consolidated revenue surpasses guided $18.0 billion, reaching $19.5B+ driven by >60% data center growth
Non-GAAP operating margins reach 40.0%, achieving the upper bound of long-term guidance through strong SG&A leverage
Supplier capacity prepayments of $1.0 billion convert smoothly into high-volume shipments without packaging bottlenecks

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($124.31). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.5%	3.0%	3.5%	4.0%	4.5%
11.0%	$140	$143	$146	$150	$155
12.0%	$130	$132	$135	$138	$141
13.0%	$121	$123	$124	$127	$130
14.0%	$114	$115	$117	$119	$121
15.0%	$107	$109	$110	$111	$113

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E62.1

P25 n/aP50 n/aP75 n/a

Trailing P/E87.6

P25 n/aP50 n/aP75 n/a

ROE16.5

P25 n/aP50 n/aP75 n/a

ROIC6.9

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All MRVL indicators

Market & fundamental data

Available fields

283

Groups with data

Currency

USD

Showing 283 of 283 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001835632
Company name	Marvell Technology, Inc.
Country	United States
Country code	US
CUSIP number	573874104
Earnings date	2026-12-01
Earnings time	amc
Employees	7,480
Employees change	438
Employees growth	6.22%
Enterprise value	$221.7B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-08-01
First seen	2026-05-09
Fiscal year end	January
Founded	1995
In index	SP500, NASDAQ100
Industry	Semiconductors
IPO date	2000-06-27
Is primary listing	Yes
Is SPAC	No
ISIN number	US5738741041
Last 10-K release date	2026-03-11
Last earnings date	2026-08-27
Last refreshed	2026-10-28
Last stock split date	2006-07-25
Last stock split type	Forward
Market cap	$220.3B
Market cap category	Mega-Cap
Next earnings date	2026-12-01
Options	Yes
Price	$251.22
Price currency	USD
Sector	Technology
SIC code	3674
Stock price date	2026-10-28
Symbol	MRVL
Tags	artificial-intelligence
U.S. state	Delaware
Website	https://www.marvell.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	76.13x
Earnings yield	1.18%
EV/Earnings	83.31x
EV/EBIT	138.43x
EV/EBITDA	77.16x
EV/FCF	127.12x
EV/Sales	23.27x
FCF / EV yield	0.79%
FCF yield	0.79%
Forward EV/Sales	14.05x
Forward P/E	44.46x
Forward P/S	13.96x
Graham number	37.62185
Graham upside	-84.91%
Industry forward P/E	13.51x
Industry P/E	25.54x
P/(FCF - SBC) ratio	242.55x
P/(OCF - SBC) ratio	159.39x
P/B ratio	11.52x
P/E ratio	84.41x
P/FCF ratio	126.34x
P/OCF ratio	99.34x
P/S ratio	23.13x
PEG ratio	0.77x
Price / tangible book value	106.41x
Price/EBITDA ratio	76.69x
Sector forward P/E	18.86x
Sector P/E	32.77x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	16.81%
EBITDA margin	30.16%
Effective tax rate	13.69%
FCF margin	18.31%
Gross margin	52.22%
Operating margin	16.81%
Pretax margin	32.37%
Profit margin	27.93%
Profit per employee	$352,928
Profitable quarters	7
Profitable years	1
Revenue per employee	$1.3M
ROA	4.13%
ROA (5Y)	0.71%
ROCE	6.34%
ROE	16.52%
ROE (5Y)	0.47%
ROIC	6.94%
ROIC (5Y)	0.08%
SBC / revenue	8.77%
Tax / revenue	4.43%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth (Q)	50%
EPS growth (QoQ)	743.67%
EPS growth quarters	1
EPS growth years	2
FCF growth	12.81%
FCF growth (Q)	15.62%
FCF growth (QoQ)	-0.89%
FCF growth 3Y	30.65%
FCF growth 5Y	27.34%
Gross profit growth	37.54%
Gross profit growth (Q)	44.03%
Gross profit growth 3Y	24.58%
Gross profit growth 5Y	22.74%
Net income growth (Q)	58.11%
Net income growth (QoQ)	792.75%
Net income growth quarters	1
Net income growth years	2
OCF growth	19.27%
OCF growth (Q)	31.17%
OCF growth (QoQ)	-5.21%
OCF growth 3Y	26.64%
OCF growth 5Y	28.66%
Operating income growth	100.3%
Operating income growth (Q)	52.91%
Revenue growth	30.62%
Revenue growth (Q)	36.55%
Revenue growth (QoQ)	13.3%
Revenue growth 10Y	15.05%
Revenue growth 3Y	18.93%
Revenue growth 5Y	22.28%
Revenue growth quarters	8
Revenue growth years	2

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-470.2M
Depreciation and amortization	$1.3B
EBIT	$1.6B
EBITDA	$2.9B
EPS	$2.98
FCF per share	$1.97
Financing cash flow	$-209.3M
Free cash flow	$1.7B
Free cash flow minus SBC	$901.2M
Gross profit	$4.9B
Income taxes	$418.7M
Investing cash flow	$717.4M
Net borrowing	$498.9M
Net cash flow	$2.7B
Net income	$2.6B
Operating cash flow minus SBC	$1.4B
Operating income	$1.6B
Revenue	$9.5B
Stock-based compensation	$828.9M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	7.97
Book value per share	$21.14
Debt / EBITDA	1.8
Debt / equity	0.29
Debt / FCF	3.06
Goodwill	$13.9B
Interest coverage	7.34
Long-term assets	$19.6B
Long-term liabilities	$6.5B
Net cash (debt)	$-1.4B
Net cash / market cap	-0.62%
Net debt / EBITDA	0.47
Net debt / equity	0.07
Net debt / FCF	0.78
Piotroski F-Score	6
Property, plant and equipment	$1.4B
Shareholders' equity	$18.5B
Tangible book value	$2.1B
Tangible book value per share	$2.34
Total assets	$27.6B
Total cash	$3.9B
Total debt	$5.3B
Total liabilities	$9B
WACC	16.37%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.39
Current assets	$7.9B
Current liabilities	$2.5B
Current ratio	3.17
Inventory turnover	3.74
Net working capital	$1.5B
Quick ratio	2.46
Working capital	$5.4B
Working capital turnover	2.51

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-2.56%
Dividend growth	0%
Dividend growth (10Y)	0%
Dividend growth (3Y)	0%
Dividend growth (5Y)	0%
Dividend growth years	0
Dividend payment date	2026-10-29
Dividend payment years	15
Dividend payout frequency	Quarterly
Dividend per share	$0.24
Dividend yield	0.1%
Ex-dividend date	2026-10-09
FCF payout ratio	12.16%
Last dividend	$0.06
Payout ratio	8.06%
Shareholder yield	-2.46%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	1,812.04%
10Y return CAGR	35.26%
10Y total return	1,948.26%
150-day SMA	$214.97
15Y price change	1,682.94%
15Y return CAGR	22.48%
15Y total return	1,995.14%
1D price change	3.14%
1M price change	-4.23%
1M total return	-4.21%
1W price change	4.34%
1W total return	4.34%
1Y price change	182.79%
1Y return CAGR	183.47%
1Y total return	183.26%
20-day SMA	$254.23
200-day SMA	$181.94
20Y price change	1,321.3%
20Y return CAGR	15.12%
20Y total return	1,570.18%
3M price change	32.61%
3M total return	32.64%
3Y price change	430.81%
3Y return CAGR	74.91%
3Y total return	435.27%
50-day SMA	$244.07
50-day SMA vs 200-day SMA	50over200
52-week high	$329.88
52-week high date	2026-06-18
52-week low	$70.69
52-week low date	2026-02-05
5Y price change	270.55%
5Y return CAGR	30.42%
5Y total return	277.22%
6M price change	58.56%
6M total return	58.64%
After-hours change	0.38%
After-hours close	$251.22
After-hours price	$252.17
All-time high	$329.88
All-time high date	2026-06-18
All-time low	$1.98
All-time low date	2001-04-03
Average true range (ATR)	$15.30
Average volume	20M
Beta (1Y)	2.01
Beta (2Y)	2.11
Beta (5Y)	2.26
Change from 52-week high	-23.85%
Change from 52-week low	255.41%
Change from all-time high	-23.95%
Change from all-time low	12,544.15%
Change from open	1.63%
Day's gap	1.49%
Dollar volume	$2.6B
High price	$253.38
Low price	$246.41
Monthly RSI	65.62
Open price	$247.20
Position in 52-week range	69.01%
Premarket change	1.27%
Premarket close	$243.57
Premarket price	$246.65
Premarket volume	414K
Previous close	$243.57
Price vs 150-day SMA	16.69%
Price vs 20-day SMA	-1.33%
Price vs 200-day SMA	37.88%
Price vs 50-day SMA	2.78%
Relative volume	0.52
RSI	52.04
Sharpe ratio	1.64
Sharpe ratio (3Y)	1.08
Sharpe ratio (5Y)	0.67
Sortino ratio	2.8
Sortino ratio (3Y)	1.72
Sortino ratio (5Y)	1.12
Volume	10.4M
Weekly RSI	59.73
YTD price change	195.2%
YTD total return	195.7%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	873.8M
Float percentage	99.65%
Shares change (QoQ)	3.12%
Shares change (YoY)	2.56%
Shares held by insiders	0.18%
Shares held by institutions	80.93%
Shares outstanding	876.9M
Short % of float	2.75%
Short % of shares	2.74%
Short ratio	1.3 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	1,559

Deeper analysis on MRVL

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this MRVL report

What is the latest published MRVL stock rating?

Marvell Technology Inc. is shown with Sell in the latest published report, analyzed 2026-10-02. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full MRVL analysis?

The full latest published report, analyzed 2026-10-02, lives at /stocks/MRVL/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for MRVL?

The latest published report analyzed 2026-10-02 gives MRVL a fair value of USD 124 and a potential value of USD 182. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the MRVL page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-02). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellMRVL · Fair value $124-53.0%

Read full analysis →

Marvell Technology Inc. (MRVL)

Our latest published analysis: MRVL rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · MRVL

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All MRVL indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on MRVL

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	1.5
Management	7.5
Balance Sheet	8.5
Profitability	7.5
Revenue Growth	9.0
Risk Assessment	7.0
Competitive Moat	7.5
Earnings Quality	6.5
Capital Efficiency	3.5