# Marvell Technology, Inc. (MRVL)

> Marvell designs semiconductor chips that move, process, secure, and store data in data centers and communications equipment.

- Exchange: NASDAQ · Sector: Technology · Industry: Semiconductors
- Headquarters: Wilmington, Delaware, United States
- Founded: 1995
- Employees: 7,480
- SEC CIK: 0001835632 ([filings on EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001835632))
- Full page: https://inspectstocks.com/stocks/mrvl
- Data as of: price 2026-09-28; newest filing used 2026-08-28; latest fiscal period ended 2026-08-01

## Grade

**A+** on the growth-and-cash rubric, 5 of 5 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Revenue growing overall | passed | $9.5B | $5.6B |
| Revenue growing recently | passed | $9.5B | $8.2B |
| Free cash flow positive | passed | $1.7B |  |
| Free cash flow growing overall | passed | $1.7B | $775.8M |
| Free cash flow growing recently | passed | $1.7B | $1.4B |

Business quality (the + / − mark): 6 of 6 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Profitable | passed | 27.9% |  |
| Healthy profit margin | passed | 27.9% |  |
| Strong operating margin | passed | 16.5% |  |
| Good return on equity | passed | 18.5% |  |
| Debt under control | passed | 0.37 |  |
| Turns sales into cash | passed | 18.3% |  |

How the grade works: the letter counts failed checks (none → A, one → B, two → C, three → D, four or more → F). It is built from SEC filings only — the share price never enters it — and describes the business, not whether the stock is worth buying.

## Key figures

In US dollars, as filed.

| Measure | Value |
| --- | --- |
| Revenue, trailing twelve months | $9.5B |
| Net income, trailing twelve months | $2.6B |
| Free cash flow, trailing twelve months | $1.7B |
| Net margin | 27.9% |
| Operating margin | 16.5% |
| Return on equity | 18.5% |
| Debt to equity | 0.37 |
| Diluted EPS, trailing twelve months | $3.03 |
| Share price | $251.81 |
| Market value | $220.8B |
| Price / earnings | 83.1x |
| Price / sales | 23.4x |

## What the business does

Marvell designs chips for data centers, networks, storage systems, and other electronic equipment. Its chips help carry data between servers and other devices, run network and security tasks, and control hard drives and solid-state drives. Marvell designs the chips and relies on outside companies to manufacture, package, and test them.

### How it makes money

- **Data center chips** (74.4%) — Marvell sells chips used in artificial intelligence systems, servers, network switches, and data storage, directly to equipment makers and through distributors.
- **Communications and other chips** (25.6%) — Marvell sells chips for business and carrier networks, consumer equipment, and industrial uses, directly to equipment makers and through distributors.

### Products

- **Custom application-specific integrated circuits** — Chips designed to a particular customer's requirements, including chips for artificial intelligence computing, networking, and storage equipment.
- **Optical and electrical data-connection chips** — Chips that help data travel between servers, switches, and data centers over optical fiber or copper cables. They include digital signal processors, laser drivers, signal amplifiers, and chips that repair or strengthen signals.
- **Prestera and Teralynx Ethernet products** — Ethernet switches, network controllers, adapters, and physical-layer transceivers that move data through business and data-center networks.
- **OCTEON and LiquidSecurity processors** — Processors that handle network traffic and security tasks, including encryption and management of private keys used to protect digital information.
- **QLogic Fibre Channel adapters** — Adapters and controllers that connect servers to storage systems in data centers.
- **Bravera storage controllers** — Chips that control hard drives and solid-state drives, helping them read, write, and transfer stored data.

### Customers

- Original equipment manufacturers and original design manufacturers buy chips to build servers, switches, storage systems, and other finished equipment. Marvell sells to some customers directly and uses distributors for other sales.
- Distributor A accounted for 44% (three months ended August 1, 2026, high confidence) of revenue and resells Marvell products to a range of end customers.
- Customer A accounted for 16% (three months ended August 1, 2026, high confidence) of revenue. The filing does not identify the customer by name.

### Competitors

- Broadcom Inc. (AVGO) — Custom chips, data-center and network switches, and connectivity chips.
- Advanced Micro Devices, Inc. (AMD) — Data-center chips and custom semiconductor design.
- Intel Corporation (INTC) — Data-center processors, networking chips, and connectivity products.
- NVIDIA Corporation (NVDA) — Data-center networking and custom chips used in artificial intelligence systems.
- Astera Labs, Inc. (ALAB) — Chips that connect and manage components inside data-center systems.
- Credo Technology Group Holding Ltd. (CRDO) — Chips for high-speed data connections in data centers.

### What it depends on

- A large portion of sales passes through a small number of large customers and distributors; the filings identify the largest ones only as Customer A and Distributor A.
- Marvell outsources chip manufacturing, packaging, and testing. It relies on outside manufacturers, including Taiwan Semiconductor Manufacturing Company for advanced-node wafers, and on other suppliers for critical components and production capacity.
- Most sales are to customers with operations in Asia, and much of Marvell's and its customers' manufacturing takes place outside the United States. Trade restrictions, export rules, or disruptions in the region could affect sales or supply.

### What could go wrong

- A reduction in orders from a major customer or distributor, or a customer choosing to make chips itself or buy from another supplier, could materially reduce sales.
- Marvell depends on outside suppliers for advanced chip manufacturing and for packaging and testing. Shortages or production problems, particularly for advanced-node wafers, could delay customer deliveries.
- Sales depend on customers adopting Marvell's designs in products such as artificial intelligence data-center systems. Changes in demand, delayed or canceled orders, or competing products could reduce sales or leave Marvell with inventory customers do not need.

## More on this company

- [Overview](https://inspectstocks.com/stocks/mrvl)
- [Financial statements](https://inspectstocks.com/stocks/mrvl/financials)
- [Competitors](https://inspectstocks.com/stocks/mrvl/peers)
- [Earnings](https://inspectstocks.com/stocks/mrvl/earnings)

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Source: InspectStocks, built from the company’s own SEC filings. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.