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MARVELL TECHNOLOGY INC (19MW.MI) Stock Fundamental Analysis

BIT:19MW - Euronext Milan - US5738741041 - Common Stock - Currency: EUR

68.87  -12.82 (-15.69%)

Fundamental Rating

4

19MW gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 58 industry peers in the Semiconductors & Semiconductor Equipment industry. While 19MW seems to be doing ok healthwise, there are quite some concerns on its profitability. 19MW is valued quite expensive, but it does show an excellent growth.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year 19MW was profitable.
In the past year 19MW had a positive cash flow from operations.
In the past 5 years 19MW always reported negative net income.
Each year in the past 5 years 19MW had a positive operating cash flow.
19MW.MI Yearly Net Income VS EBIT VS OCF VS FCF19MW.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M 1B 1.5B

1.2 Ratios

Looking at the Return On Assets, with a value of -4.38%, 19MW is doing worse than 84.48% of the companies in the same industry.
19MW has a worse Return On Equity (-6.59%) than 82.76% of its industry peers.
Industry RankSector Rank
ROA -4.38%
ROE -6.59%
ROIC N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
19MW.MI Yearly ROA, ROE, ROIC19MW.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10

1.3 Margins

19MW has a worse Gross Margin (41.31%) than 68.97% of its industry peers.
In the last couple of years the Gross Margin of 19MW has declined.
The Profit Margin and Operating Margin are not available for 19MW so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 41.31%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-3.69%
GM growth 5Y-3.85%
19MW.MI Yearly Profit, Operating, Gross Margins19MW.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 60

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4

2. Health

2.1 Basic Checks

19MW does not have a ROIC to compare to the WACC, probably because it is not profitable.
19MW has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
19MW.MI Yearly Shares Outstanding19MW.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
19MW.MI Yearly Total Debt VS Total Assets19MW.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

2.2 Solvency

An Altman-Z score of 5.94 indicates that 19MW is not in any danger for bankruptcy at the moment.
19MW has a Altman-Z score (5.94) which is comparable to the rest of the industry.
The Debt to FCF ratio of 19MW is 2.92, which is a good value as it means it would take 19MW, 2.92 years of fcf income to pay off all of its debts.
19MW has a Debt to FCF ratio of 2.92. This is comparable to the rest of the industry: 19MW outperforms 55.17% of its industry peers.
A Debt/Equity ratio of 0.29 indicates that 19MW is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.29, 19MW is in line with its industry, outperforming 44.83% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF 2.92
Altman-Z 5.94
ROIC/WACCN/A
WACC11.3%
19MW.MI Yearly LT Debt VS Equity VS FCF19MW.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B 15B

2.3 Liquidity

19MW has a Current Ratio of 1.54. This is a normal value and indicates that 19MW is financially healthy and should not expect problems in meeting its short term obligations.
19MW has a Current ratio of 1.54. This is in the lower half of the industry: 19MW underperforms 74.14% of its industry peers.
19MW has a Quick Ratio of 1.03. This is a normal value and indicates that 19MW is financially healthy and should not expect problems in meeting its short term obligations.
19MW has a worse Quick ratio (1.03) than 72.41% of its industry peers.
Industry RankSector Rank
Current Ratio 1.54
Quick Ratio 1.03
19MW.MI Yearly Current Assets VS Current Liabilites19MW.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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8

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 3.97% over the past year.
19MW shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 18.92% yearly.
Looking at the last year, 19MW shows a small growth in Revenue. The Revenue has grown by 4.71% in the last year.
19MW shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.40% yearly.
EPS 1Y (TTM)3.97%
EPS 3Y0.21%
EPS 5Y18.92%
EPS Q2Q%30.43%
Revenue 1Y (TTM)4.71%
Revenue growth 3Y8.93%
Revenue growth 5Y16.4%
Sales Q2Q%27.4%

3.2 Future

19MW is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 37.88% yearly.
19MW is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 23.80% yearly.
EPS Next Y78.64%
EPS Next 2Y53.36%
EPS Next 3Y44.69%
EPS Next 5Y37.88%
Revenue Next Year42.63%
Revenue Next 2Y30.14%
Revenue Next 3Y26.99%
Revenue Next 5Y23.8%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
19MW.MI Yearly Revenue VS Estimates19MW.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 5B 10B 15B 20B
19MW.MI Yearly EPS VS Estimates19MW.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2 4 6 8 10

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2

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 47.50, the valuation of 19MW can be described as expensive.
19MW's Price/Earnings ratio is rather expensive when compared to the industry. 19MW is more expensive than 87.93% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 29.35, 19MW is valued quite expensively.
With a Price/Forward Earnings ratio of 26.66, 19MW can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, 19MW is valued a bit more expensive than 67.24% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.10, 19MW is valued a bit more expensive.
Industry RankSector Rank
PE 47.5
Fwd PE 26.66
19MW.MI Price Earnings VS Forward Price Earnings19MW.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

19MW's Enterprise Value to EBITDA ratio is rather expensive when compared to the industry. 19MW is more expensive than 89.66% of the companies in the same industry.
The rest of the industry has a similar Price/Free Cash Flow ratio as 19MW.
Industry RankSector Rank
P/FCF 46.56
EV/EBITDA 68.47
19MW.MI Per share data19MW.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10

4.3 Compensation for Growth

19MW's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as 19MW's earnings are expected to grow with 44.69% in the coming years.
PEG (NY)0.6
PEG (5Y)2.51
EPS Next 2Y53.36%
EPS Next 3Y44.69%

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1

5. Dividend

5.1 Amount

With a yearly dividend of 0.33%, 19MW is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 1.50, 19MW has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.33, 19MW's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.33%

5.2 History

The dividend of 19MW decreases each year by -1.30%.
Dividend Growth(5Y)-1.3%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

19MW has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-23.45%
EPS Next 2Y53.36%
EPS Next 3Y44.69%
19MW.MI Yearly Income VS Free CF VS Dividend19MW.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M 1B 1.5B

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MARVELL TECHNOLOGY INC

BIT:19MW (3/6/2025, 7:00:00 PM)

68.87

-12.82 (-15.69%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)03-05 2025-03-05/amc
Earnings (Next)05-28 2025-05-28/amc
Inst Owners89.12%
Inst Owner ChangeN/A
Ins Owners0.29%
Ins Owner ChangeN/A
Market Cap59.59B
Analysts84.44
Price Target124.44 (80.69%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.33%
Yearly Dividend0.22
Dividend Growth(5Y)-1.3%
DP-23.45%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.66%
Min EPS beat(2)-0.25%
Max EPS beat(2)3.57%
EPS beat(4)1
Avg EPS beat(4)-0.74%
Min EPS beat(4)-5.21%
Max EPS beat(4)3.57%
EPS beat(8)4
Avg EPS beat(8)-0.13%
EPS beat(12)4
Avg EPS beat(12)-0.92%
EPS beat(16)8
Avg EPS beat(16)0.72%
Revenue beat(2)1
Avg Revenue beat(2)0.68%
Min Revenue beat(2)-0.74%
Max Revenue beat(2)2.09%
Revenue beat(4)1
Avg Revenue beat(4)-0.44%
Min Revenue beat(4)-2.77%
Max Revenue beat(4)2.09%
Revenue beat(8)1
Avg Revenue beat(8)-0.67%
Revenue beat(12)1
Avg Revenue beat(12)-0.98%
Revenue beat(16)3
Avg Revenue beat(16)-0.62%
PT rev (1m)-1.39%
PT rev (3m)39.21%
EPS NQ rev (1m)0%
EPS NQ rev (3m)12.6%
EPS NY rev (1m)-0.35%
EPS NY rev (3m)10.02%
Revenue NQ rev (1m)-0.1%
Revenue NQ rev (3m)9.84%
Revenue NY rev (1m)0.04%
Revenue NY rev (3m)9.35%
Valuation
Industry RankSector Rank
PE 47.5
Fwd PE 26.66
P/S 11.22
P/FCF 46.56
P/OCF 38.48
P/B 4.82
P/tB N/A
EV/EBITDA 68.47
EPS(TTM)1.45
EY2.11%
EPS(NY)2.58
Fwd EY3.75%
FCF(TTM)1.48
FCFY2.15%
OCF(TTM)1.79
OCFY2.6%
SpS6.14
BVpS14.29
TBVpS-0.93
PEG (NY)0.6
PEG (5Y)2.51
Profitability
Industry RankSector Rank
ROA -4.38%
ROE -6.59%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 41.31%
FCFM 24.09%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-3.69%
GM growth 5Y-3.85%
F-Score5
Asset Turnover0.29
Health
Industry RankSector Rank
Debt/Equity 0.29
Debt/FCF 2.92
Debt/EBITDA 3.97
Cap/Depr 21.49%
Cap/Sales 5.06%
Interest Coverage N/A
Cash Conversion 169.73%
Profit Quality N/A
Current Ratio 1.54
Quick Ratio 1.03
Altman-Z 5.94
F-Score5
WACC11.3%
ROIC/WACCN/A
Cap/Depr(3y)20.72%
Cap/Depr(5y)19.16%
Cap/Sales(3y)5.03%
Cap/Sales(5y)4.66%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)3.97%
EPS 3Y0.21%
EPS 5Y18.92%
EPS Q2Q%30.43%
EPS Next Y78.64%
EPS Next 2Y53.36%
EPS Next 3Y44.69%
EPS Next 5Y37.88%
Revenue 1Y (TTM)4.71%
Revenue growth 3Y8.93%
Revenue growth 5Y16.4%
Sales Q2Q%27.4%
Revenue Next Year42.63%
Revenue Next 2Y30.14%
Revenue Next 3Y26.99%
Revenue Next 5Y23.8%
EBIT growth 1Y16.08%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year77.82%
EBIT Next 3Y41.24%
EBIT Next 5Y34.57%
FCF growth 1Y36.2%
FCF growth 3Y30.02%
FCF growth 5Y38.4%
OCF growth 1Y22.67%
OCF growth 3Y27.07%
OCF growth 5Y36.08%