Recent News
On March 31, 2026 Nvidia announced a $2.0 billion strategic investment in Marvell to deepen an NVLink Fusion partnership and integrate Marvell custom XPUs with Nvidia’s AI ecosystem. On February 2, 2026 Marvell completed the previously announced acquisition of Celestial AI, expanding its photonics and AI interconnect capabilities.
Technical Analysis
Directional indicators (ADX / DI+ / DI-): ADX at 33.34 signals a strong trend; DI+ at 40.18 and increasing constitutes a bullish directional read while DI- at 13.83 and decreasing reinforces that bullish bias. The directional structure supports continued upside pressure tied to positive catalysts and momentum.
MACD & signal: MACD sits at 10.94 and the MACD trend is increasing with the MACD above its signal line (signal 8.03), indicating bullish momentum and a recent bullish crossover.
MRO (Momentum/Regression Oscillator): MRO at 33.99 (positive and increasing) indicates price trading above the model target and therefore an elevated risk of a mean reversion or pullback while momentum remains strong.
RSI: RSI at 62.93 and rising shows sustained buying pressure without an overbought reading above 70, supporting further gains while cautioning that buying power approaches over-extension.
Price vs moving averages / bands / support: Last close $133.37 trades above the 12-day EMA ($120.75), 20-day average ($115.03), 50-day average ($92.72) and 200-day average ($83.80), consistent with a multi-horizon uptrend. Price sits marginally above the 1x Bollinger upper band ($132.43), indicating short-term extension. SuperTrend lower support at $121.49 offers a technical reference for downside containment. Elevated 42-day and 52-week betas (1.83 / 2.18) imply amplified reactions to market moves and news.
Fundamental Analysis
Revenue and earnings: Total revenue stands at $2,074,500,000 with net income $1,901,300,000. EPS reported $0.80 versus estimate $0.79, producing an EPS surprise ratio of 1.266% (EPS difference $0.01). Revenue growth shows conflicting short-term signals: the headline revenueGrowth reads 3.41% while quarter-over-quarter revenueGrowthQoQ declined by 41.67% and revenueGrowthYoY shows -82.152%.
Profitability and margins: EBIT totals $2,266,600,000 producing an EBIT margin of 109.26%. That margin exceeds the industry peer mean (55.519%), median (56.917%) and industry peer high (66.654%). Operating margin registers 17.71% with operating margin QoQ up 18.899% and operating margin YoY down 138.204% (presented as provided), indicating material quarter-to-quarter leverage but divergent year-over-year comparisons.
Cash, liquidity and leverage: Cash and short-term investments total $2,714,500,000; current ratio 2.01 and quick ratio 1.64 demonstrate solid near-term liquidity. Total debt $4,777,500,000 with net debt $1,754,400,000 and debt-to-EBITDA 1.85 show manageable leverage; interest coverage 44.27 supports easy interest servicing. Free cash flow equals $507,600,000 with free cash flow yield 0.718%, which sits above the industry peer mean free cash flow yield of 0.49%.
Operational metrics and returns: Return on equity 13.526% and return on assets 9.018% show healthy returns on capital. Asset turnover 9.84% and cash conversion cycle ~104 days reflect capital-intensive operations and working-capital investment. Research & development $512,500,000 underpins product and interconnect development.
Valuation: Current multiples show PE ratio 109.54 and forward PE 128.13 with PS 34.06 and enterprise multiple ~28.16. WMDST values the stock as over-valued. High multiples paired with a low free cash flow yield and elevated price relative to moving averages imply valuation stretches that could limit near-term upside despite positive operating performance and strategic catalysts.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-10-31 |
| REPORT DATE: | 2026-03-05 |
| NEXT REPORT DATE: | 2026-06-04 |
| CASH FLOW | Begin Period Cash Flow | $ 1.2 B |
| Operating Cash Flow | $ 582.3 M | |
| Capital Expenditures | $ -74.70 M | |
| Change In Working Capital | $ 32.1 M | |
| Dividends Paid | $ -50.80 M | |
| Cash Flow Delta | $ 1.5 B | |
| End Period Cash Flow | $ 2.7 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.1 B | |
| Forward Revenue | $ 306.9 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.0 B | |
| Depreciation | $ 86.9 M | |
| Depreciation and Amortization | $ 315.9 M | |
| Research and Development | $ 512.5 M | |
| Total Operating Expenses | $ 1.7 B | |
| PROFITABILITY | ||
| Gross Profit | $ 1.1 B | |
| EBITDA | $ 2.6 B | |
| EBIT | $ 2.3 B | |
| Operating Income | $ 367.4 M | |
| Interest Income | $ 1.9 B | |
| Interest Expense | $ 51.2 M | |
| Net Interest Income | $ 1.9 B | |
| Income Before Tax | $ 2.2 B | |
| Tax Provision | $ 314.1 M | |
| Tax Rate | 14.178 % | |
| Net Income | $ 1.9 B | |
| Net Income From Continuing Operations | $ 1.9 B | |
| EARNINGS | ||
| EPS Estimate | $ 0.79 | |
| EPS Actual | $ 0.80 | |
| EPS Difference | $ 0.01 | |
| EPS Surprise | 1.266 % | |
| Forward EPS | $ 1.33 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 21.6 B | |
| Intangible Assets | $ 13.4 B | |
| Net Tangible Assets | $ 699.5 M | |
| Total Current Assets | $ 5.5 B | |
| Cash and Short-Term Investments | $ 2.7 B | |
| Cash | $ 2.7 B | |
| Net Receivables | $ 1.5 B | |
| Inventory | $ 1.0 B | |
| Long-Term Investments | $ 119.6 M | |
| LIABILITIES | ||
| Accounts Payable | $ 633.7 M | |
| Short-Term Debt | $ 499.5 M | |
| Total Current Liabilities | $ 2.7 B | |
| Net Debt | $ 1.8 B | |
| Total Debt | $ 4.8 B | |
| Total Liabilities | $ 7.5 B | |
| EQUITY | ||
| Total Equity | $ 14.1 B | |
| Retained Earnings | $ 1.0 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 16.56 | |
| Shares Outstanding | 848.600 M | |
| Revenue Per-Share | $ 2.44 | |
| VALUATION | Market Capitalization | $ 70.6 B |
| Enterprise Value | $ 72.7 B | |
| Enterprise Multiple | 28.156 | |
| Enterprise Multiple QoQ | -73.776 % | |
| Enterprise Multiple YoY | -114.39 % | |
| Enterprise Multiple IPRWA | high: 834.667 mean: 68.431 MRVL: 28.156 median: 7.422 low: -501.319 |
|
| EV/R | 35.051 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.535 | |
| Asset To Liability | 2.869 | |
| Debt To Capital | 0.254 | |
| Debt To Assets | 0.221 | |
| Debt To Assets QoQ | -4.573 % | |
| Debt To Assets YoY | 3275.0 % | |
| Debt To Assets IPRWA | high: 0.473 MRVL: 0.221 mean: 0.143 median: 0.134 low: 0.013 |
|
| Debt To Equity | 0.34 | |
| Debt To Equity QoQ | -4.491 % | |
| Debt To Equity YoY | 3411.157 % | |
| Debt To Equity IPRWA | high: 1.676 MRVL: 0.34 mean: 0.24 median: 0.196 low: 0.015 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 5.026 | |
| Price To Book QoQ | 7.437 % | |
| Price To Book YoY | -5.908 % | |
| Price To Book IPRWA | high: 37.589 mean: 14.824 MRVL: 5.026 median: 1.418 low: 0.281 |
|
| Price To Earnings (P/E) | 109.545 | |
| Price To Earnings QoQ | 0.121 % | |
| Price To Earnings YoY | -42.947 % | |
| Price To Earnings IPRWA | high: 286.682 mean: 124.206 MRVL: 109.545 median: 94.39 low: -177.142 |
|
| PE/G Ratio | 8.155 | |
| Price To Sales (P/S) | 34.056 | |
| Price To Sales QoQ | 8.809 % | |
| Price To Sales YoY | -27.719 % | |
| Price To Sales IPRWA | high: 105.407 mean: 40.516 MRVL: 34.056 median: 7.347 low: 1.729 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 128.133 | |
| Forward PE/G | 9.539 | |
| Forward P/S | 488.341 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 199.823 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.098 | |
| Asset Turnover Ratio QoQ | -0.405 % | |
| Asset Turnover Ratio YoY | 29.832 % | |
| Asset Turnover Ratio IPRWA | high: 0.18 median: 0.137 mean: 0.13 MRVL: 0.098 low: 0.016 |
|
| Receivables Turnover | 1.384 | |
| Receivables Turnover Ratio QoQ | -10.467 % | |
| Receivables Turnover Ratio YoY | -6.071 % | |
| Receivables Turnover Ratio IPRWA | high: 4.147 mean: 2.087 median: 1.863 MRVL: 1.384 low: 1.088 |
|
| Inventory Turnover | 0.973 | |
| Inventory Turnover Ratio QoQ | 3.704 % | |
| Inventory Turnover Ratio YoY | -30.095 % | |
| Inventory Turnover Ratio IPRWA | high: 2.591 median: 1.367 mean: 1.313 MRVL: 0.973 low: 0.293 |
|
| Days Sales Outstanding (DSO) | 65.936 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 103.595 | |
| Cash Conversion Cycle Days QoQ | -1.322 % | |
| Cash Conversion Cycle Days YoY | -3.708 % | |
| Cash Conversion Cycle Days IPRWA | high: 241.472 median: 109.359 MRVL: 103.595 mean: 93.278 low: -150.871 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.747 | |
| CapEx To Revenue | -0.036 | |
| CapEx To Depreciation | -0.86 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 18.0 B | |
| Net Invested Capital | $ 18.5 B | |
| Invested Capital | $ 18.5 B | |
| Net Tangible Assets | $ 699.5 M | |
| Net Working Capital | $ 2.8 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.992 | |
| Current Ratio | 2.014 | |
| Current Ratio QoQ | 7.091 % | |
| Current Ratio YoY | 26.115 % | |
| Current Ratio IPRWA | high: 6.514 mean: 3.111 median: 2.618 MRVL: 2.014 low: 0.555 |
|
| Quick Ratio | 1.644 | |
| Quick Ratio QoQ | 13.93 % | |
| Quick Ratio YoY | 48.086 % | |
| Quick Ratio IPRWA | high: 4.732 mean: 2.694 median: 2.42 MRVL: 1.644 low: 0.377 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 1.85 | |
| Cost Of Debt | 0.92 % | |
| Interest Coverage Ratio | 44.27 | |
| Interest Coverage Ratio QoQ | 760.669 % | |
| Interest Coverage Ratio YoY | -400.463 % | |
| Interest Coverage Ratio IPRWA | high: 195.635 median: 195.635 mean: 150.621 MRVL: 44.27 low: -27.439 |
|
| Operating Cash Flow Ratio | 0.798 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 57.032 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 37.427 | |
| Dividend Payout Ratio | 0.027 | |
| Dividend Rate | $ 0.06 | |
| Dividend Yield | 0.001 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.822 % | |
| Revenue Growth | 3.41 % | |
| Revenue Growth QoQ | -41.67 % | |
| Revenue Growth YoY | -82.152 % | |
| Revenue Growth IPRWA | high: 12.933 % mean: 6.538 % median: 5.674 % MRVL: 3.41 % low: -27.848 % |
|
| Earnings Growth | 13.433 % | |
| Earnings Growth QoQ | 66.559 % | |
| Earnings Growth YoY | -69.001 % | |
| Earnings Growth IPRWA | high: 104.0 % mean: 14.375 % MRVL: 13.433 % median: 7.534 % low: -82.857 % |
|
| MARGINS | ||
| Gross Margin | 51.569 % | |
| Gross Margin QoQ | 2.368 % | |
| Gross Margin YoY | 123.766 % | |
| Gross Margin IPRWA | high: 97.585 % mean: 65.743 % median: 62.326 % MRVL: 51.569 % low: 14.487 % |
|
| EBIT Margin | 109.26 % | |
| EBIT Margin QoQ | 655.549 % | |
| EBIT Margin YoY | -335.698 % | |
| EBIT Margin IPRWA | MRVL: 109.26 % high: 66.654 % median: 56.917 % mean: 55.519 % low: -7.228 % |
|
| Return On Sales (ROS) | 17.71 % | |
| Return On Sales QoQ | 18.899 % | |
| Return On Sales YoY | -138.204 % | |
| Return On Sales IPRWA | high: 63.169 % median: 54.0 % mean: 52.86 % MRVL: 17.71 % low: -7.228 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 507.6 M | |
| Free Cash Flow Yield | 0.718 % | |
| Free Cash Flow Yield QoQ | 9.119 % | |
| Free Cash Flow Yield YoY | 11.318 % | |
| Free Cash Flow Yield IPRWA | high: 2.999 % MRVL: 0.718 % median: 0.495 % mean: 0.49 % low: -2.378 % |
|
| Free Cash Growth | 22.906 % | |
| Free Cash Growth QoQ | -75.605 % | |
| Free Cash Growth YoY | -72.111 % | |
| Free Cash Growth IPRWA | high: 561.157 % median: 163.062 % mean: 114.303 % MRVL: 22.906 % low: -105.836 % |
|
| Free Cash To Net Income | 0.267 | |
| Cash Flow Margin | 105.216 % | |
| Cash Flow To Earnings | 1.148 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 9.018 % | |
| Return On Assets QoQ | 840.355 % | |
| Return On Assets YoY | -366.726 % | |
| Return On Assets IPRWA | MRVL: 9.018 % high: 6.617 % median: 6.617 % mean: 5.867 % low: -6.837 % |
|
| Return On Capital Employed (ROCE) | 12.029 % | |
| Return On Equity (ROE) | 0.135 | |
| Return On Equity QoQ | 832.185 % | |
| Return On Equity YoY | -367.471 % | |
| Return On Equity IPRWA | MRVL: 0.135 high: 0.105 median: 0.093 mean: 0.088 low: -0.072 |
|
| DuPont ROE | 13.839 % | |
| Return On Invested Capital (ROIC) | 10.5 % | |
| Return On Invested Capital QoQ | 676.627 % | |
| Return On Invested Capital YoY | -87.753 % | |
| Return On Invested Capital IPRWA | MRVL: 10.5 % high: 7.873 % median: 7.873 % mean: 6.696 % low: -5.582 % |
|