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

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

62.26  +0.9 (+1.47%)

Fundamental Rating

4

Taking everything into account, 19MW scores 4 out of 10 in our fundamental rating. 19MW was compared to 51 industry peers in the Semiconductors & Semiconductor Equipment industry. 19MW may be in some trouble as it scores bad on both profitability and health. 19MW is growing strongly while it is still valued neutral. This is a good combination!


Dividend Valuation Growth Profitability Health

2

1. Profitability

1.1 Basic Checks

19MW had positive earnings in the past year.
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

The Return On Assets of 19MW (-2.45%) is worse than 88.24% of its industry peers.
19MW has a Return On Equity of -3.69%. This is amonst the worse of the industry: 19MW underperforms 86.27% of its industry peers.
19MW has a Return On Invested Capital of 0.18%. This is amonst the worse of the industry: 19MW underperforms 82.35% of its industry peers.
Industry RankSector Rank
ROA -2.45%
ROE -3.69%
ROIC 0.18%
ROA(3y)-3.17%
ROA(5y)-2.8%
ROE(3y)-4.64%
ROE(5y)-3.98%
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

The Operating Margin of 19MW (0.62%) is worse than 86.27% of its industry peers.
19MW has a Gross Margin (43.17%) which is comparable to the rest of the industry.
In the last couple of years the Gross Margin of 19MW has declined.
Industry RankSector Rank
OM 0.62%
PM (TTM) N/A
GM 43.17%
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

3

2. Health

2.1 Basic Checks

19MW has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for 19MW remains at a similar level compared to 1 year ago.
Compared to 5 years ago, 19MW has more shares outstanding
Compared to 1 year ago, 19MW has a worse debt to assets ratio.
19MW.MI Yearly Shares Outstanding19MW.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 5B 10B 15B 20B

2.2 Solvency

An Altman-Z score of 5.95 indicates that 19MW is not in any danger for bankruptcy at the moment.
The Altman-Z score of 19MW (5.95) is comparable to the rest of the industry.
19MW has a debt to FCF ratio of 3.09. This is a good value and a sign of high solvency as 19MW would need 3.09 years to pay back of all of its debts.
The Debt to FCF ratio of 19MW (3.09) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.22 indicates that 19MW is not too dependend on debt financing.
The Debt to Equity ratio of 19MW (0.22) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 3.09
Altman-Z 5.95
ROIC/WACC0.02
WACC11.34%
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

A Current Ratio of 1.30 indicates that 19MW should not have too much problems paying its short term obligations.
The Current ratio of 19MW (1.30) is worse than 86.27% of its industry peers.
19MW has a Quick Ratio of 1.30. This is a bad value and indicates that 19MW is not financially healthy enough and could expect problems in meeting its short term obligations.
19MW has a worse Quick ratio (0.94) than 82.35% of its industry peers.
Industry RankSector Rank
Current Ratio 1.3
Quick Ratio 0.94
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 2025 1B 2B 3B

9

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 35.42% 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.
19MW shows a strong growth in Revenue. In the last year, the Revenue has grown by 21.60%.
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)35.42%
EPS 3Y0.21%
EPS 5Y18.92%
EPS Q2Q%158.33%
Revenue 1Y (TTM)21.6%
Revenue growth 3Y8.93%
Revenue growth 5Y16.4%
Sales Q2Q%63.26%

3.2 Future

Based on estimates for the next years, 19MW will show a very strong growth in Earnings Per Share. The EPS will grow by 34.12% on average per year.
The Revenue is expected to grow by 22.60% on average over the next years. This is a very strong growth
EPS Next Y82.01%
EPS Next 2Y53.36%
EPS Next 3Y41.37%
EPS Next 5Y34.12%
Revenue Next Year43.54%
Revenue Next 2Y30.14%
Revenue Next 3Y25.73%
Revenue Next 5Y22.6%

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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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

4

4. Valuation

4.1 Price/Earnings Ratio

19MW is valuated quite expensively with a Price/Earnings ratio of 37.51.
Based on the Price/Earnings ratio, 19MW is valued a bit more expensive than 64.71% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.30. 19MW is valued slightly more expensive when compared to this.
With a Price/Forward Earnings ratio of 19.76, 19MW is valued on the expensive side.
Compared to the rest of the industry, the Price/Forward Earnings ratio of 19MW is on the same level as its industry peers.
19MW is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 21.76, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 37.51
Fwd PE 19.76
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

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of 19MW indicates a rather expensive valuation: 19MW more expensive than 92.16% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, 19MW is valued a bit cheaper than the industry average as 64.71% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 46
EV/EBITDA 47.77
19MW.MI Per share data19MW.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8 10

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
19MW's earnings are expected to grow with 41.37% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.46
PEG (5Y)1.98
EPS Next 2Y53.36%
EPS Next 3Y41.37%

1

5. Dividend

5.1 Amount

19MW has a yearly dividend return of 0.32%, which is pretty low.
19MW's Dividend Yield is comparable with the industry average which is at 1.12.
With a Dividend Yield of 0.32, 19MW pays less dividend than the S&P500 average, which is at 2.37.
Industry RankSector Rank
Dividend Yield 0.32%

5.2 History

The dividend of 19MW decreases each year by -0.14%.
Dividend Growth(5Y)-0.14%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

The earnings of 19MW are negative and hence is the payout ratio. 19MW will probably not be able to sustain this dividend level.
DP-42.22%
EPS Next 2Y53.36%
EPS Next 3Y41.37%
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

MARVELL TECHNOLOGY INC

BIT:19MW (7/8/2025, 7:00:00 PM)

62.26

+0.9 (+1.47%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)05-29 2025-05-29/amc
Earnings (Next)08-27 2025-08-27/amc
Inst Owners87.2%
Inst Owner ChangeN/A
Ins Owners0.2%
Ins Owner ChangeN/A
Market Cap53.78B
Analysts82.98
Price Target81.51 (30.92%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.32%
Yearly Dividend0.2
Dividend Growth(5Y)-0.14%
DP-42.22%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-0.56%
Min EPS beat(2)-0.87%
Max EPS beat(2)-0.25%
EPS beat(4)1
Avg EPS beat(4)0.35%
Min EPS beat(4)-1.06%
Max EPS beat(4)3.57%
EPS beat(8)3
Avg EPS beat(8)-0.7%
EPS beat(12)4
Avg EPS beat(12)-0.94%
EPS beat(16)7
Avg EPS beat(16)0.36%
Revenue beat(2)0
Avg Revenue beat(2)-0.91%
Min Revenue beat(2)-1.08%
Max Revenue beat(2)-0.74%
Revenue beat(4)1
Avg Revenue beat(4)-0.01%
Min Revenue beat(4)-1.08%
Max Revenue beat(4)2.09%
Revenue beat(8)1
Avg Revenue beat(8)-0.77%
Revenue beat(12)1
Avg Revenue beat(12)-1.02%
Revenue beat(16)2
Avg Revenue beat(16)-0.77%
PT rev (1m)-12.71%
PT rev (3m)-20.86%
EPS NQ rev (1m)-0.05%
EPS NQ rev (3m)-1.02%
EPS NY rev (1m)-0.01%
EPS NY rev (3m)-0.59%
Revenue NQ rev (1m)-0.05%
Revenue NQ rev (3m)1.04%
Revenue NY rev (1m)-0.97%
Revenue NY rev (3m)-0.08%
Valuation
Industry RankSector Rank
PE 37.51
Fwd PE 19.76
P/S 9.69
P/FCF 46
P/OCF 37.3
P/B 4.73
P/tB N/A
EV/EBITDA 47.77
EPS(TTM)1.66
EY2.67%
EPS(NY)3.15
Fwd EY5.06%
FCF(TTM)1.35
FCFY2.17%
OCF(TTM)1.67
OCFY2.68%
SpS6.42
BVpS13.15
TBVpS-0.57
PEG (NY)0.46
PEG (5Y)1.98
Profitability
Industry RankSector Rank
ROA -2.45%
ROE -3.69%
ROCE 0.23%
ROIC 0.18%
ROICexc 0.19%
ROICexgc 1.3%
OM 0.62%
PM (TTM) N/A
GM 43.17%
FCFM 21.07%
ROA(3y)-3.17%
ROA(5y)-2.8%
ROE(3y)-4.64%
ROE(5y)-3.98%
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-Score7
Asset Turnover0.32
Health
Industry RankSector Rank
Debt/Equity 0.22
Debt/FCF 3.09
Debt/EBITDA 2.14
Cap/Depr 23.68%
Cap/Sales 4.91%
Interest Coverage 250
Cash Conversion 121.61%
Profit Quality N/A
Current Ratio 1.3
Quick Ratio 0.94
Altman-Z 5.95
F-Score7
WACC11.34%
ROIC/WACC0.02
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)35.42%
EPS 3Y0.21%
EPS 5Y18.92%
EPS Q2Q%158.33%
EPS Next Y82.01%
EPS Next 2Y53.36%
EPS Next 3Y41.37%
EPS Next 5Y34.12%
Revenue 1Y (TTM)21.6%
Revenue growth 3Y8.93%
Revenue growth 5Y16.4%
Sales Q2Q%63.26%
Revenue Next Year43.54%
Revenue Next 2Y30.14%
Revenue Next 3Y25.73%
Revenue Next 5Y22.6%
EBIT growth 1Y108.67%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year91.8%
EBIT Next 3Y40.45%
EBIT Next 5Y34.57%
FCF growth 1Y34.19%
FCF growth 3Y30.02%
FCF growth 5Y38.4%
OCF growth 1Y29.73%
OCF growth 3Y27.07%
OCF growth 5Y36.08%