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MARVELL TECHNOLOGY INC (MRVL) Stock Fundamental Analysis

NASDAQ:MRVL - Nasdaq - US5738741041 - Common Stock - Currency: USD

103.81  -4.9 (-4.51%)

After market: 103.6 -0.21 (-0.2%)

Fundamental Rating

4

MRVL gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 108 industry peers in the Semiconductors & Semiconductor Equipment industry. While MRVL seems to be doing ok healthwise, there are quite some concerns on its profitability. MRVL is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

MRVL had positive earnings in the past year.
MRVL had a positive operating cash flow in the past year.
MRVL had negative earnings in 4 of the past 5 years.
Each year in the past 5 years MRVL had a positive operating cash flow.
MRVL Yearly Net Income VS EBIT VS OCF VS FCFMRVL 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 0 500M -500M 1B 1.5B

1.2 Ratios

With a Return On Assets value of -7.50%, MRVL is not doing good in the industry: 70.37% of the companies in the same industry are doing better.
Looking at the Return On Equity, with a value of -11.05%, MRVL is doing worse than 70.37% of the companies in the same industry.
Industry RankSector Rank
ROA -7.5%
ROE -11.05%
ROIC N/A
ROA(3y)-2.34%
ROA(5y)0.93%
ROE(3y)-3.34%
ROE(5y)0.99%
ROIC(3y)N/A
ROIC(5y)N/A
MRVL Yearly ROA, ROE, ROICMRVL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10

1.3 Margins

MRVL has a Gross Margin of 39.60%. This is in the lower half of the industry: MRVL underperforms 61.11% of its industry peers.
In the last couple of years the Gross Margin of MRVL has declined.
MRVL does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 39.6%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-6%
GM growth 5Y-3.93%
MRVL Yearly Profit, Operating, Gross MarginsMRVL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60

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5

2. Health

2.1 Basic Checks

MRVL does not have a ROIC to compare to the WACC, probably because it is not profitable.
MRVL has more shares outstanding than it did 1 year ago.
MRVL has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, MRVL has an improved debt to assets ratio.
MRVL Yearly Shares OutstandingMRVL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
MRVL Yearly Total Debt VS Total AssetsMRVL 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 9.05 indicates that MRVL is not in any danger for bankruptcy at the moment.
MRVL has a better Altman-Z score (9.05) than 75.93% of its industry peers.
MRVL has a debt to FCF ratio of 2.90. This is a good value and a sign of high solvency as MRVL would need 2.90 years to pay back of all of its debts.
MRVL has a better Debt to FCF ratio (2.90) than 65.74% of its industry peers.
A Debt/Equity ratio of 0.30 indicates that MRVL is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.30, MRVL is not doing good in the industry: 62.04% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.3
Debt/FCF 2.9
Altman-Z 9.05
ROIC/WACCN/A
WACC11.77%
MRVL Yearly LT Debt VS Equity VS FCFMRVL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

MRVL has a Current Ratio of 1.60. This is a normal value and indicates that MRVL is financially healthy and should not expect problems in meeting its short term obligations.
MRVL has a worse Current ratio (1.60) than 81.48% of its industry peers.
A Quick Ratio of 1.11 indicates that MRVL should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.11, MRVL is doing worse than 82.41% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.6
Quick Ratio 1.11
MRVL Yearly Current Assets VS Current LiabilitesMRVL 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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6

3. Growth

3.1 Past

The earnings per share for MRVL have decreased by -5.30% in the last year.
The Earnings Per Share has been growing slightly by 5.06% on average over the past years.
The Revenue has decreased by -2.24% in the past year.
Measured over the past years, MRVL shows a quite strong growth in Revenue. The Revenue has been growing by 13.96% on average per year.
EPS 1Y (TTM)-5.3%
EPS 3Y17.53%
EPS 5Y5.06%
EPS Q2Q%4.88%
Revenue 1Y (TTM)-2.24%
Revenue growth 3Y22.87%
Revenue growth 5Y13.96%
Sales Q2Q%6.87%

3.2 Future

Based on estimates for the next years, MRVL will show a very strong growth in Earnings Per Share. The EPS will grow by 34.10% on average per year.
Based on estimates for the next years, MRVL will show a very strong growth in Revenue. The Revenue will grow by 21.67% on average per year.
EPS Next Y5.23%
EPS Next 2Y37.76%
EPS Next 3Y34.73%
EPS Next 5Y34.1%
Revenue Next Year4.18%
Revenue Next 2Y21.91%
Revenue Next 3Y20.86%
Revenue Next 5Y21.67%

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.
MRVL Yearly Revenue VS EstimatesMRVL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 5B 10B 15B 20B
MRVL Yearly EPS VS EstimatesMRVL 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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3

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 72.59, MRVL can be considered very expensive at the moment.
The rest of the industry has a similar Price/Earnings ratio as MRVL.
Compared to an average S&P500 Price/Earnings ratio of 29.63, MRVL is valued quite expensively.
The Price/Forward Earnings ratio is 36.22, which means the current valuation is very expensive for MRVL.
MRVL's Price/Forward Earnings ratio is in line with the industry average.
MRVL's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.68.
Industry RankSector Rank
PE 72.59
Fwd PE 36.22
MRVL Price Earnings VS Forward Price EarningsMRVL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

MRVL's Enterprise Value to EBITDA ratio is in line with the industry average.
Based on the Price/Free Cash Flow ratio, MRVL is valued a bit cheaper than 61.11% of the companies in the same industry.
Industry RankSector Rank
P/FCF 63.65
EV/EBITDA 122.46
MRVL Per share dataMRVL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates MRVL does not grow enough to justify the current Price/Earnings ratio.
A more expensive valuation may be justified as MRVL's earnings are expected to grow with 34.73% in the coming years.
PEG (NY)13.87
PEG (5Y)14.36
EPS Next 2Y37.76%
EPS Next 3Y34.73%

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3

5. Dividend

5.1 Amount

With a yearly dividend of 0.23%, MRVL is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 2.34, MRVL pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.29, MRVL's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.23%

5.2 History

The dividend of MRVL decreases each year by -1.30%.
MRVL has paid a dividend for at least 10 years, which is a reliable track record.
MRVL has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-1.3%
Div Incr Years0
Div Non Decr Years3
MRVL Yearly Dividends per shareMRVL Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.05 0.1 0.15 0.2

5.3 Sustainability

The earnings of MRVL are negative and hence is the payout ratio. MRVL will probably not be able to sustain this dividend level.
DP-14.04%
EPS Next 2Y37.76%
EPS Next 3Y34.73%
MRVL Yearly Income VS Free CF VS DividendMRVL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M 1B 1.5B

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MARVELL TECHNOLOGY INC

NASDAQ:MRVL (2/21/2025, 8:00:01 PM)

After market: 103.6 -0.21 (-0.2%)

103.81

-4.9 (-4.51%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)12-03 2024-12-03/amc
Earnings (Next)03-05 2025-03-05/amc
Inst Owners91.84%
Inst Owner Change0.48%
Ins Owners0.3%
Ins Owner Change-1.19%
Market Cap89.83B
Analysts83.64
Price Target128.41 (23.7%)
Short Float %1.86%
Short Ratio1.02
Dividend
Industry RankSector Rank
Dividend Yield 0.23%
Yearly Dividend0.24
Dividend Growth(5Y)-1.3%
DP-14.04%
Div Incr Years0
Div Non Decr Years3
Ex-Date01-10 2025-01-10 (0.06)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.26%
Min EPS beat(2)-1.06%
Max EPS beat(2)3.57%
EPS beat(4)1
Avg EPS beat(4)-1.25%
Min EPS beat(4)-5.21%
Max EPS beat(4)3.57%
EPS beat(8)4
Avg EPS beat(8)-0.56%
EPS beat(12)5
Avg EPS beat(12)-0.76%
EPS beat(16)8
Avg EPS beat(16)0.59%
Revenue beat(2)1
Avg Revenue beat(2)0.89%
Min Revenue beat(2)-0.32%
Max Revenue beat(2)2.09%
Revenue beat(4)1
Avg Revenue beat(4)-0.64%
Min Revenue beat(4)-2.77%
Max Revenue beat(4)2.09%
Revenue beat(8)1
Avg Revenue beat(8)-0.66%
Revenue beat(12)1
Avg Revenue beat(12)-0.96%
Revenue beat(16)3
Avg Revenue beat(16)-0.66%
PT rev (1m)5.04%
PT rev (3m)36.66%
EPS NQ rev (1m)13.34%
EPS NQ rev (3m)20.51%
EPS NY rev (1m)0.03%
EPS NY rev (3m)8.2%
Revenue NQ rev (1m)9.05%
Revenue NQ rev (3m)16.24%
Revenue NY rev (1m)0.02%
Revenue NY rev (3m)3.63%
Valuation
Industry RankSector Rank
PE 72.59
Fwd PE 36.22
P/S 16.71
P/FCF 63.65
P/OCF 52.41
P/B 6.72
P/tB N/A
EV/EBITDA 122.46
EPS(TTM)1.43
EY1.38%
EPS(NY)2.87
Fwd EY2.76%
FCF(TTM)1.63
FCFY1.57%
OCF(TTM)1.98
OCFY1.91%
SpS6.21
BVpS15.45
TBVpS-1.54
PEG (NY)13.87
PEG (5Y)14.36
Profitability
Industry RankSector Rank
ROA -7.5%
ROE -11.05%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 39.6%
FCFM 26.25%
ROA(3y)-2.34%
ROA(5y)0.93%
ROE(3y)-3.34%
ROE(5y)0.99%
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-6%
GM growth 5Y-3.93%
F-Score5
Asset Turnover0.27
Health
Industry RankSector Rank
Debt/Equity 0.3
Debt/FCF 2.9
Debt/EBITDA 4.99
Cap/Depr 21.75%
Cap/Sales 5.63%
Interest Coverage N/A
Cash Conversion 215.71%
Profit Quality N/A
Current Ratio 1.6
Quick Ratio 1.11
Altman-Z 9.05
F-Score5
WACC11.77%
ROIC/WACCN/A
Cap/Depr(3y)18.56%
Cap/Depr(5y)18.17%
Cap/Sales(3y)4.74%
Cap/Sales(5y)4.29%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-5.3%
EPS 3Y17.53%
EPS 5Y5.06%
EPS Q2Q%4.88%
EPS Next Y5.23%
EPS Next 2Y37.76%
EPS Next 3Y34.73%
EPS Next 5Y34.1%
Revenue 1Y (TTM)-2.24%
Revenue growth 3Y22.87%
Revenue growth 5Y13.96%
Sales Q2Q%6.87%
Revenue Next Year4.18%
Revenue Next 2Y21.91%
Revenue Next 3Y20.86%
Revenue Next 5Y21.67%
EBIT growth 1Y-48.3%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year10.84%
EBIT Next 3Y34.48%
EBIT Next 5Y27.15%
FCF growth 1Y31.28%
FCF growth 3Y13.5%
FCF growth 5Y14.91%
OCF growth 1Y33.51%
OCF growth 3Y18.81%
OCF growth 5Y18.09%