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
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
2025
$468M
-$137M
56.8%
-27.1%
$7M
$124M
$73M
2024
$361M
-$245M
54.0%
-62.0%
-$63M
$123M
$119M
2023
$693M
-$73M
55.6%
-5.5%
$30M
$122M
$187M
2022
$1.1B
$125M
58.0%
16.1%
$347M
$122M
$187M
2021
$892M
$42M
55.6%
7.3%
$129M
$306M
$131M
2020
$479M
-$99M
44.5%
-21.1%
$61M
$370M
$149M
2019
$317M
-$20M
52.9%
-7.0%
$71M
$207M
$93M
2018
$385M
-$26M
54.2%
-5.0%
$95M
$256M
$73M
2017
—
-$9M
—
—
$68M
$348M
$72M
2016
—
$61M
—
—
$109M
$0
$81M
2015
—
-$42M
—
—
$52M
—
$68M
2014
—
-$7M
—
—
$3M
—
$21M
2013
—
-$13M
—
—
$10M
—
$26M
2012
—
-$13M
—
—
$2M
—
$22M
2011
—
-$22M
—
—
-$10M
—
$28M
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
Mar '26
$137M
-$45M
57.5%
-12.5%
-$10M
$124M
$61M
Dec '25
$136M
-$15M
57.6%
-10.9%
$7M
$124M
$73M
Sep '25
$126M
-$45M
56.9%
-32.7%
$4M
$123M
$112M
Jun '25
$109M
-$27M
56.5%
-22.6%
$9M
$123M
$109M
Mar '25
$96M
-$50M
56.1%
-48.0%
-$13M
$123M
$103M
Dec '24
$92M
-$58M
55.6%
-44.7%
-$30M
$123M
$119M
Sep '24
$81M
-$76M
54.4%
-82.3%
-$35M
$123M
$148M
Jun '24
$92M
-$39M
54.6%
-44.4%
-$6M
$123M
$185M
Mar '24
$95M
-$72M
51.7%
-78.3%
$8M
$123M
$192M
Dec '23
$125M
-$39M
54.7%
-33.3%
-$18M
$122M
$187M
Sep '23
$136M
-$40M
54.6%
-13.1%
-$15M
$122M
$187M
Jun '23
$184M
-$4M
55.9%
-3.2%
$26M
$122M
$225M
Mar '23
$248M
$10M
56.5%
11.0%
$37M
$122M
$208M
Dec '22
$291M
$31M
56.2%
14.2%
$53M
$122M
$187M
Sep '22
$286M
$28M
58.6%
18.2%
$53M
$172M
$181M
Jun '22
$280M
$32M
58.7%
13.9%
$113M
$246M
$211M
Mar '22
$264M
$34M
58.6%
18.2%
$129M
$286M
$151M
Dec '21
$248M
$28M
57.2%
11.8%
$4M
$306M
$131M
Sep '21
$230M
$9M
56.5%
10.4%
$74M
$326M
$169M
Jun '21
$205M
$733000
54.8%
1.1%
$17M
$347M
$130M
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.
The price-to-earnings ratio has fallen from 24.8× (Mar '23) to 17.0× (Dec '23).
The price-to-sales ratio has risen from 2.8× (Mar '23) to 18.1× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
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 Jun '26, Maxlinear, Inc traded at a price-to-earnings ratio of about 17.0× (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.