Marvell Technology (MRVL) stock
Information Technology · Semiconductors
Marvell Technology (MRVL) is a Semiconductors company in the Information Technology sector, headquartered in Santa Clara, California. As of October 23, 2026, MRVL closed at $228.51, a market capitalization of $205.36 billion, the 54th largest company in the S&P 500. Over the last twelve months it generated $9.45 billion in revenue (+36% year over year) and $1.72 billion in free cash flow. The stock trades at 75.2x trailing earnings and 31.2x forward earnings.
- 1-year total return: +176.5% (dividends reinvested)
- 5-year return: +28.5% a year
- 52-week range: $70.69 – $329.88
- Gross margin 52.2%, operating margin 16.7%
- Dividend yield: 0.10%
- FI Handbook report card: C+ across 10 metrics
- 19th largest of 75 Information Technology stocks in the S&P 500
MRVL price chart
1Y price change: +176.1% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| MRVL | -12.4% | +169.4% | +176.5% | +67.5% | +28.5% | +34.2% | +11.8% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2000.
MRVL key statistics
- Market cap
- $205.4B
- #54 in S&P 500
- P/E (TTM)
- 75.2x
- Forward P/E
- 31.2x
- EPS (TTM)
- $3.04
- Revenue (TTM)
- $9.5B
- +37%
- Free cash flow
- $1.7B
- Gross margin
- 52.2%
- Operating margin
- 16.7%
- Return on equity
- 16.5%
- Dividend yield
- 0.10%
- 52-week range
- $70.69 – $329.88
- Beta
- 2.26
- Price / sales
- 21.7x
- EV / EBITDA
- 70.8x
- Debt / equity
- 0.29x
- Employees
- 7,480
MRVL report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth36.5%A
- Gross margin52.2%B
- Operating margin16.7%C
- FCF margin18.2%B
- Return on equity16.5%B
- Net debt / EBITDA0.5xB
- Forward P/E31.2xD
- PEG ratio1.1xB
- Shareholder yield1.1%D
- Share count change / yr5.4%F
Marvell Technology financials
Revenue went from $2.7B in fiscal 2020 to $8.2B in fiscal 2026, growing 20.3% a year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | $2.7B | $3.0B | $4.5B | $5.9B | $5.5B | $5.8B | $8.2B |
| Gross profit | $1.4B | $1.5B | $2.1B | $3.0B | $2.3B | $2.4B | $4.2B |
| Operating income | -$243.4M | -$258.4M | -$347.7M | $238.0M | -$567.7M | -$720.3M | $1.3B |
| Net income | $1.6B | -$277.3M | -$421.0M | -$163.5M | -$933.4M | -$885.0M | $2.7B |
| EPS (diluted) | $2.34 | $-0.41 | $-0.53 | $-0.19 | $-1.08 | $-1.02 | $3.07 |
| Free cash flow | $278.4M | $710.5M | $650.1M | $1.1B | $1.0B | $1.4B | $1.4B |
| Buybacks | $364.3M | $25.2M | $0 | $115.0M | $150.0M | $725.0M | $2.0B |
| Dividends paid | $159.6M | $160.6M | $191.0M | $204.4M | $206.8M | $207.5M | $205.1M |
| Diluted shares | 676.1M | 668.8M | 796.9M | 851.4M | 861.3M | 865.5M | 869.7M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into MRVL?
A reverse DCF asks what growth the current price requires. With an enterprise value of $206.7B and $1.7B of trailing free cash flow, Marvell Technology needs to grow free cash flow about 59.7% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 14.5% a year over the last five years.
P/E ratio history
Current 74.4x vs. median 20.3x (10th–90th percentile 14.8x–76.8x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
MRVL dividend
- Dividend yield
- 0.10%
- Annual dividend
- $0.24
- Years of increases
- —
- 5-yr dividend growth
- 0.0%
- per year
- Payout ratio
- 8%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
MRVL analyst price targets
43 analysts' average 12-month target is $341.44 (+49% vs. $228.51). Targets range from $229.95 to $450.00. 91% rate it a buy.
MRVL earnings
Next report: December 1, 2026. Marvell Technology has beaten EPS estimates 4 quarters in a row. Last quarter's revenue was $2.7B (+37% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 27, 2026 | $0.93 | $0.94 | +1.0% |
| May 27, 2026 | $0.79 | $0.80 | +0.6% |
| Mar 5, 2026 | $0.79 | $0.80 | +1.1% |
| Dec 2, 2025 | $0.74 | $0.76 | +3.0% |
| Aug 28, 2025 | $0.67 | $0.67 | -0.5% |
| May 29, 2025 | $0.61 | $0.62 | +1.1% |
| Mar 5, 2025 | $0.59 | $0.60 | +1.6% |
| Dec 3, 2024 | $0.41 | $0.43 | +5.5% |
Stocks like MRVL
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 NVDA NVIDIA | -0.59% | +16% | $5.1T | 26.7x | Compare |
 AVGO Broadcom | -0.48% | -6% | $1.5T | 42.9x | Compare |
 MU Micron Technology | +2.46% | +325% | $992.9B | 11.8x | Compare |
 AMD Advanced Micro Devices | +1.74% | +120% | $843.6B | 131.8x | Compare |
 INTC Intel | +1.72% | +128% | $459.7B | — | Compare |
 TXN Texas Instruments | +1.86% | +70% | $260.0B | 36.9x | Compare |
 ADI Analog Devices | +1.38% | +63% | $189.5B | 46.4x | Compare |
 QCOM QUALCOMM | +1.78% | +6% | $187.8B | 20.4x | Compare |
MRVL news
- Wells Fargo, Cisco, Intuit Among 6 More Companies Objecting to Tokenized Stocks · Oct 25, 2026
- Marvell Technology Faces a Multi-Front War Against Taiwan’s Custom Silicon Ecosystem · Oct 23, 2026
- Same Playbook, Different Silicon: Broadcom Holds the Throne, Marvell Plays the AMD Challenger. · Oct 23, 2026
- Arm’s Ready-Made Blueprints: The Blueprint Attack on Marvell’s Challenger Crown · Oct 23, 2026
- What Marvell Technology Holders Bought Into Before A 170% Run · Oct 23, 2026
MRVL stock FAQ
What is MRVL's market cap?
Marvell Technology's market capitalization is $205.36 billion as of October 23, 2026, ranking 54th in the S&P 500.
What is MRVL's P/E ratio?
MRVL trades at a trailing price-to-earnings ratio of 75.2x and a forward P/E of 31.2x. Its median P/E over the period we track is 20.3x.
Does MRVL pay a dividend?
Yes. Marvell Technology pays $0.24 per share a year, a 0.10% yield. Dividends grew 0.0% a year over the last five years.
How much has MRVL stock returned?
Including reinvested dividends, MRVL returned +176.5% over one year, +28.5% a year over five years, +34.2% a year over ten years through October 23, 2026.
Is MRVL stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Marvell Technology must grow free cash flow about 60% a year for the next decade. Its free cash flow grew 14% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the MRVL price target?
43 analysts cover MRVL with an average 12-month price target of $341.44, +49% from the current price. 91% of them rate it a buy.
When does MRVL report earnings?
Marvell Technology is expected to report earnings on December 1, 2026. It has beaten EPS estimates 4 quarters in a row.
How many employees does Marvell Technology have?
Marvell Technology has about 7,480 full-time employees, or $1.3 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology