Marvell (MRVL) AI Stock Analysis

• Market Cap: $57.85B
• Dividend Yield: 0.36%
• Average Volume (3M): 21.51M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.38
• Revenue Growth: 37.05%
• EPS Growth: 89.40%
• Country: US
• Employees: 7,042
• Sector: Technology
• Sector Strength: 86
• Industry: Semiconductors
• EPS (TTM): 0.67
• Shares Outstanding: 862,100,000
• 10 Day Avg. Volume: 32,310,120
• 30 Day Avg. Volume: 21,513,736
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.19
• Enterprise Value/Revenue: 9.49
• Enterprise Value/Gross Profit: 21.25
• Enterprise Value/Ebitda: 48.07
• 1Y Price Target: $87.70
• Price Target Upside: 31.70% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 34

• Rating: 58 Neutral
• Price Target: $65.00 ▼(-2.39% Downside)

Marvell's overall stock score reflects strong earnings call performance and revenue growth, particularly in AI and data center markets. However, profitability challenges and bearish technical indicators weigh heavily. The valuation is a concern with a negative P/E ratio, indicating underlying profitability issues. Strategic initiatives and market opportunities provide a positive outlook, but financial and technical weaknesses need addressing.

Positive Factors

Revenue Growth

Strong revenue growth, especially in AI and data center markets, indicates robust demand and expanding market presence, supporting long-term business sustainability.

Strategic Divestiture

The divestiture provides financial flexibility and allows Marvell to focus on core high-growth areas, enhancing its strategic positioning and investment capacity.

Operating Margin Expansion

Improved operating margins reflect efficient cost management and operational leverage, contributing to sustainable profitability and competitive advantage.

Negative Factors

Profitability Challenges

Ongoing profitability issues, with negative net margins, suggest challenges in cost control and pricing power, potentially impacting long-term financial health.

Custom Business Volatility

Volatility in custom business revenue can lead to unpredictable cash flows and complicate financial planning, affecting stability and investor confidence.

Return on Equity

Negative ROE indicates inefficiencies in generating shareholder returns, which could deter investment and necessitate strategic adjustments for improvement.

Marvell Business Overview & Revenue Model

Company Description

Marvell Technology, Inc., together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors. The company also provides a range of storage products comprising storage controllers for hard disk drives (HDD) and solid-state drives that support various host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics; and fiber channel products, including host bus adapters, and controllers for server and storage system connectivity. It has operations in the United States, China, Malaysia, the Philippines, Thailand, Singapore, India, Israel, Japan, South Korea, Taiwan, and Vietnam. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.

How the Company Makes Money

Marvell generates revenue primarily through the sale of its semiconductor products and solutions. Its key revenue streams include sales from data infrastructure products, which encompass storage controllers, networking chips, and integrated circuits used in cloud and enterprise data centers. The company also earns revenue from its automotive solutions and wireless connectivity products. Significant partnerships with major technology companies and OEMs (Original Equipment Manufacturers) enhance its market presence and contribute to earnings. Furthermore, Marvell's focus on R&D allows it to innovate and introduce new products, thereby driving growth and expanding its customer base in various high-demand markets.

Marvell Financial Statement Overview

Summary

Marvell shows strong revenue growth and stable cash flow generation, which are positive indicators. However, sustained losses and pressure on operating margins highlight profitability challenges. The balance sheet remains robust, but leverage risks should be monitored to ensure financial health.

Income Statement

Marvell's revenue has shown a positive growth trend with a notable increase in the TTM period. However, the company is currently experiencing negative net profitability, as evidenced by the negative Net Income and a negative Net Profit Margin. The Gross Profit Margin remains healthy, but the EBIT and EBITDA margins are under pressure, indicating challenges in controlling operational costs.

Balance Sheet

The balance sheet reveals a solid equity position, with a significant portion of the company's assets funded by stockholders' equity. However, the Debt-to-Equity ratio is moderate, suggesting some leverage that could pose risks if not managed carefully. The company maintains a stable Equity Ratio, contributing to financial stability.

Cash Flow

Marvell demonstrates strong cash flow generation, with positive Free Cash Flow and Operating Cash Flow. The Free Cash Flow to Net Income ratio is strong due to negative net income, reflecting efficient cash management despite profitability challenges. The Free Cash Flow growth rate is notable, indicating effective capital expenditure control.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.23B	5.77B	5.51B	5.92B	4.46B	2.97B
Gross Profit	3.23B	2.38B	2.29B	2.99B	2.06B	1.49B
EBITDA	1.43B	651.60M	850.70M	1.65B	901.10M	388.60M
Net Income	-103.40M	-885.00M	-933.40M	-163.50M	-421.00M	-277.30M
Balance Sheet
Total Assets	20.59B	20.20B	21.23B	22.52B	22.11B	10.76B
Cash, Cash Equivalents and Short-Term Investments	1.22B	948.30M	950.80M	911.00M	613.50M	748.47M
Total Debt	4.78B	4.34B	4.40B	4.74B	4.73B	1.33B
Total Liabilities	7.16B	6.78B	6.40B	6.88B	6.41B	2.33B
Stockholders Equity	13.42B	13.43B	14.83B	15.64B	15.70B	8.44B
Cash Flow
Free Cash Flow	1.53B	1.39B	1.02B	1.07B	632.40M	697.80M
Operating Cash Flow	1.84B	1.68B	1.37B	1.29B	819.30M	817.30M
Investing Cash Flow	-317.10M	-300.70M	-350.50M	-328.40M	-3.75B	-119.60M
Financing Cash Flow	-1.11B	-1.38B	-980.20M	-662.90M	2.79B	-596.80M

Marvell Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 66.59
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRVL, the sentiment is Negative. The current price of 66.59 is below the 20-day moving average (MA) of 70.12, below the 50-day MA of 72.94, and below the 200-day MA of 81.41, indicating a bearish trend. The MACD of -2.45 indicates Positive momentum. The RSI at 42.72 is Neutral, neither overbought nor oversold. The STOCH value of 46.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MRVL.

Marvell Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NXPI	76 Outperform	$55.28B	25.91	23.11%	1.85%	-7.53%	-21.88%
SWKS	74 Outperform	$10.92B	29.33	6.61%	3.82%	-8.24%	-48.31%
ON	69 Neutral	$19.68B	44.91	5.72%	―	-17.93%	-75.83%
STM	67 Neutral	$23.22B	37.60	3.72%	1.19%	-22.97%	-78.58%
Sector *	61 Neutral	$36.70B	12.21	-10.39%	1.84%	8.50%	-7.32%
MRVL	58 Neutral	$57.85B	―	-0.75%	0.36%	37.05%	89.40%
MCHP	54 Neutral	$35.24B	84.25	-2.24%	2.81%	-35.70%	-113.08%

Marvell Corporate Events

Marvell and AWS Expand Strategic Partnership for Cloud

Marvell Technology and Amazon Web Services (AWS) have expanded their strategic partnership in a multi-generational agreement to enhance cloud infrastructure with advanced data center semiconductors. This collaboration aims to boost efficiency and innovation by leveraging Marvell’s semiconductor solutions, including custom AI products and networking hardware, integrated with AWS’s scalable cloud capabilities. This partnership is expected to accelerate Marvell’s silicon design process and empower AWS to deliver robust AI and cloud services.