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MXL Financials Maxlinear, Inc

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has declined 0.5% per year over the past 5 years.
  • Operating margin has contracted, at -27.1% in the latest year.
  • Free cash flow has declined 35.1% per year over the past 5 years.

Financial health

  • Total debt ($124M) exceeds cash ($73M); net debt is $51M.
  • Total debt has grown slower than revenue (-19.7% vs -0.5% per year).
  • Operating income covered interest expense -12.6× in the latest year.
Revenue & net income
-$245M $438M $1B $0 2011 2013 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
-68% -5% 58% 0% 2011 2013 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Return on equity & assets (ROE / ROA)
-47% -15% 18% 0% 2011 2013 2015 2017 2019 2021 2023 2025
ROEROA
Free cash flow (CFO − capex)
-$63M $142M $347M $0 2011 2013 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $185M $370M 2011 2013 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$432M -$22M $389M $0 2011 2013 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MROEROAFCFTotal debtCash
2025 $468M -$137M 56.8% -27.1% -30.2% -17.2% $7M $124M $73M
2024 $361M -$245M 54.0% -62.0% -47.5% -28.4% -$63M $123M $119M
2023 $693M -$73M 55.6% -5.5% -10.7% -6.8% $30M $122M $187M
2022 $1.1B $125M 58.0% 16.1% 18.5% 10.6% $347M $122M $187M
2021 $892M $42M 55.6% 7.3% 8.6% 4.0% $129M $306M $131M
2020 $479M -$99M 44.5% -21.1% -25.2% -9.6% $61M $370M $149M
2019 $317M -$20M 52.9% -7.0% -4.8% -2.8% $71M $207M $93M
2018 $385M -$26M 54.2% -5.0% -6.6% -3.5% $95M $256M $73M
2017 -$9M -2.4% -1.1% $68M $348M $72M
2016 $61M 17.4% 14.5% $109M $0 $81M
2015 -$42M -16.1% -12.7% $52M $68M
2014 -$7M -7.1% -5.2% $3M $21M
2013 -$13M -14.7% -10.2% $10M $26M
2012 -$13M -16.5% -12.0% $2M $22M
2011 -$22M -23.7% -19.6% -$10M $28M

Valuation over time

How the market has priced MXL 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.

Price / earnings (P/E)
0.0 12.6 25.2 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/E
Price / sales (P/S)
0.0 12.4 24.9 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/S

Frequently asked questions

Is MXL growing its revenue and profit?

Over the past 5 years, Maxlinear, Inc's revenue has declined 0.5% per year. These are computed facts, not advice.

How much debt does MXL have?

As of FY2025, Maxlinear, Inc reported $124M of total debt against $73M of cash; operating income covered interest expense -12.6×.

What is MXL's profit margin?

In FY2025, gross margin was 56.8%, operating margin -27.1%, and net margin -29.2%.

What is MXL's P/E ratio?

As of Sep '26, Maxlinear, Inc traded at a price-to-earnings ratio of about 17.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S 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.