7 years of revenue, profit, cash flow and balance-sheet history through FY2026,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 22.5% per year over the past 5 years.
Operating margin has expanded, at 16.1% in the latest year.
Free cash flow has grown 14.5% per year over the past 5 years.
Financial health
Total debt ($5.0B) exceeds cash ($2.6B); net debt is $2.3B.
Total debt has grown faster than revenue (29.0% vs 22.5% per year).
Operating income covered interest expense 6.5× in the latest year.
Total debt is 3.8× EBITDA.
Shareholder returns
Dividends have been paid for 7 consecutive years, consuming 7.7% of earnings and 14.7% of free cash flow.
The dividend has grown 5.0% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2026
$8.2B
$2.7B
51.0%
16.1%
$1.4B
$5.0B
$2.6B
2025
$5.8B
-$885M
41.3%
-12.5%
$1.4B
$4.2B
$948M
2024
$5.5B
-$933M
41.6%
-10.3%
$1.0B
$4.3B
$951M
2023
$5.9B
-$164M
50.5%
4.0%
$1.1B
$5.1B
$911M
2022
$4.5B
-$421M
46.3%
-7.8%
$650M
$4.6B
$614M
2021
$3.0B
-$277M
50.1%
-8.7%
$711M
$1.4B
$748M
2020
$2.7B
$1.6B
50.3%
-9.0%
$278M
—
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
May '26
$2.4B
$35M
52.1%
14.0%
$483M
$5.0B
$3.8B
Jan '26
$2.2B
$396M
51.7%
18.2%
$259M
$5.0B
$2.6B
Nov '25
$2.1B
$1.9B
51.6%
17.2%
$509M
$5.0B
$2.7B
Aug '25
$2.0B
$195M
50.4%
14.5%
$414M
$5.0B
$1.2B
May '25
$1.9B
$178M
50.3%
14.3%
$214M
$5.5B
$886M
Feb '25
$1.8B
$200M
50.5%
12.9%
$444M
$4.2B
$948M
Nov '24
$1.5B
-$676M
23.0%
-46.4%
$461M
$4.2B
$868M
Aug '24
$1.3B
-$193M
46.2%
-7.9%
$258M
$4.3B
$809M
May '24
$1.2B
-$216M
45.5%
-13.1%
$233M
$4.3B
$848M
Feb '24
$1.4B
-$393M
46.6%
-2.3%
$476M
$4.3B
$951M
Oct '23
$1.4B
-$164M
38.9%
-10.3%
$449M
$4.3B
$726M
Jul '23
$1.3B
-$208M
38.9%
-15.3%
$1M
$5.2B
$423M
Apr '23
$1.3B
-$169M
42.2%
-13.8%
$109M
$6.2B
$1.0B
Jan '23
$1.4B
-$15M
47.5%
1.6%
$298M
$5.1B
$911M
Oct '22
$1.5B
$13M
50.6%
6.9%
$368M
$5.1B
$723M
Jul '22
$1.5B
$4M
51.8%
2.6%
$259M
$5.3B
$617M
Apr '22
$1.4B
-$166M
51.9%
4.8%
$158M
$4.6B
$465M
Jan '22
$1.3B
$6M
51.1%
2.6%
$307M
$4.6B
$614M
Oct '21
$1.2B
-$63M
48.5%
-2.8%
$188M
$4.6B
$524M
Jul '21
$1.1B
-$276M
34.6%
-24.8%
$190M
$4.7B
$560M
Valuation over time
How the market has priced MRVL against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 26.7× (Feb '26) to 91.2× (Jun '26).
The price-to-sales ratio has risen from 6.4× (Mar '23) to 29.7× (Jun '26).
The dividend yield has fallen from 0.5% (Mar '23) to 0.1% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is MRVL growing its revenue and profit?
Over the past 5 years, Marvell Technology's revenue has grown 22.5% per year. These are computed facts, not advice.
How much debt does MRVL have?
As of FY2026, Marvell Technology reported $5.0B of total debt against $2.6B of cash; operating income covered interest expense 6.5×.
What is MRVL's profit margin?
In FY2026, gross margin was 51.0%, operating margin 16.1%, and net margin 32.6%.
What is MRVL's P/E ratio?
As of Jun '26, Marvell Technology traded at a price-to-earnings ratio of about 91.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.