MarvellMRVL
Designs chips for data centres, including custom AI processors for cloud companies and the chips that move data between them.
By financial year
| Figure | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Income | |||||
| Revenue | $4.5bn | $5.9bn | $5.5bn | $5.8bn | $8.2bn |
| Gross profit | $2.1bn | $3.0bn | $2.3bn | $2.4bn | $4.2bn |
| Operating income | −$348m | $238m | −$568m | −$720m | $1.3bn |
| Net income | −$421m | −$164m | −$933m | −$885m | $2.7bn |
| Earnings per share (diluted) | −$0.53 | −$0.19 | −$1.08 | −$1.02 | $3.07 |
| Cash flow | |||||
| Cash from operations | $819m | $1.3bn | $1.4bn | $1.7bn | $1.8bn |
| Capital spending | $169m | $206m | $336m | $285m | $354m |
| Free cash flow | $650m | $1.1bn | $1.0bn | $1.4bn | $1.4bn |
| Share buybacks | $0 | $115m | $150m | $725m | $2.0bn |
| Balance sheet (at the end of the period) | |||||
| Cash and investments | $614m | $911m | $951m | $948m | $2.6bn |
| Total debt | $4.6bn | $5.1bn | $4.3bn | $4.2bn | $5.0bn |
| Net debt (debt less cash) | $4.0bn | $4.2bn | $3.3bn | $3.2bn | $2.3bn |
| Shareholders’ equity | $15.7bn | $15.6bn | $14.8bn | $13.4bn | $14.3bn |
| Shares (diluted average) | 797m | 851m | 861m | 866m | 870m |
By quarter
| Figure | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | Q2 FY2027 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | $1.5bn | $1.8bn | $1.9bn | $2.0bn | $2.1bn | $2.2bn | $2.4bn | $2.7bn |
| Gross profit | $349m | $917m | $952m | $1.0bn | $1.1bn | $1.1bn | $1.3bn | $1.5bn |
| Operating income | −$703m | $235m | $271m | $290m | $358m | $404m | $339m | $460m |
| Net income | −$676m | $200m | $178m | $195m | $1.9bn | $396m | $35m | $308m |
| Earnings per share (diluted) | −$0.78 | — | $0.20 | $0.22 | $2.20 | — | $0.04 | $0.33 |
| Cash flow | ||||||||
| Cash from operations | $536m | $514m | $333m | $462m | $582m | $374m | $639m | $606m |
| Capital spending | $75m | $70m | $119m | $48m | $74m | $114m | $156m | $127m |
| Free cash flow | $461m | $444m | $214m | $414m | $509m | $259m | $483m | $479m |
| Share buybacks | $200m | $200m | $340m | $200m | $1.3bn | $200m | $200m | $200m |
| Balance sheet (at the end of the period) | ||||||||
| Cash and investments | $868m | $948m | $886m | $1.2bn | $2.7bn | $2.6bn | $3.8bn | $3.9bn |
| Total debt | $4.2bn | $4.2bn | $5.5bn | $5.0bn | $5.0bn | $5.0bn | $5.0bn | $5.0bn |
| Net debt (debt less cash) | $3.4bn | $3.2bn | $4.6bn | $3.7bn | $2.3bn | $2.3bn | $1.1bn | $1.0bn |
| Shareholders’ equity | $13.4bn | $13.4bn | $13.3bn | $13.4bn | $14.1bn | $14.3bn | $18.2bn | $18.5bn |
| Shares (diluted average) | 866m | — | 876m | 870m | 864m | — | 893m | 921m |
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