Value Investor
Start free

Marvell Technology

MRVL on Nasdaq. Marvell sells chips that move and store data to data center and network builders. Market value $237.9bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to January 2026.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Technology stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to July 2026
0.7%low

For every $100 of what the whole company costs, it produced $0.69 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to July 2026
161.9×full

You pay 161.9 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to January 2026
-1.4%five-year median

Each dollar kept in the business earns -1 cents a year. Above 10 is good.

Quality score: 60 of 100. Price score: 9 of 100. Our list needs 70 on quality and 60 on price.

$287.01 a share, 306% above its 1-year low

Over the past year the price has ranged from $70.69 to $329.88.

Dividend: 0.1% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.7
1.1
1.0
1.4
1.4
1.7
2022202320242025202612 monthsto Jul '26
Revenue
$4.5bn$5.9bn$5.5bn$5.8bn$8.2bn
Operating margin
-7.8%4.0%-10.3%-12.5%16.1%
Debt to equity
0.290.320.290.310.35
Shares outstanding
0.85bn0.86bn0.87bn0.85bn0.88bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Warning signs
  • Financial strength (Piotroski)7 of 9
  • Profit backed by cash (accruals)Yes
  • Debt0.35× equity
  • Revenue growth, five yearsStrong, 16.4% a year
  • Buying back its own sharesRoughly flat

The quarter to July 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $2.7 billion last quarter, up 37% on a year ago.
  • Profit: $308 million, up 58% on a year ago.
  • It keeps 17 cents of each $1 of sales as operating profit, up from 1 cents a year earlier.
  • Spare cash over the past 12 months: $1.7 billion, up from $1.5 billion.
  • 6% more shares than a year ago. Each share owns a bit less of the company.
  • Debt is $1 billion more than cash, down from $3.7 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
October 2024$1.5bn
January 2025$1.8bn
April 2025$1.9bn
July 2025$2.0bn
October 2025$2.1bn
January 2026$2.2bn
April 2026$2.4bn
July 2026$2.7bn
Profit by quarter
Profit by quarter
Quarter toAmount
October 2024-$676m
January 2025$200m
April 2025$178m
July 2025$195m
October 2025$1.9bn
January 2026$396m
April 2026$35m
July 2026$308m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
1 December 2026
Last annual report (10-K)
11 March 2026
Next quarterly (estimated, 10-Q)
27 November 2026

Who owns it

6 long-term investors we follow own it, unchanged from 6 last quarter. 2,208 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

3 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 6 sold $52m, $47m of it under preset trading plans.

  • Koopmans Chris
    President and COO
    Sold
    under a preset trading plan
    Date
    1 October 2026
    Shares
    10,000
    Price
    $262.05
    Value
    $3m
  • MURPHY MATTHEW J
    Chairman of the Board and CEO, Director
    Sold
    under a preset trading plan
    Date
    15 September 2026
    Shares
    7,500
    Price
    $223.39
    Value
    $2m
  • Koopmans Chris
    President and COO
    Sold
    under a preset trading plan
    Date
    1 September 2026
    Shares
    10,000
    Price
    $203.27
    Value
    $2m
  • MURPHY MATTHEW J
    Chairman of the Board and CEO, Director
    Sold
    under a preset trading plan
    Date
    17 August 2026
    Shares
    7,500
    Price
    $236.08
    Value
    $2m
  • Koopmans Chris
    President and COO
    Sold
    under a preset trading plan
    Date
    3 August 2026
    Shares
    10,000
    Price
    $180.50
    Value
    $2m
  • Bharathi Sandeep
    President, Data Center Group
    Sold
    under a preset trading plan
    Date
    16 July 2026
    Shares
    9,013
    Price
    $199.24
    Value
    $2m
  • MURPHY MATTHEW J
    Chairman of the Board and CEO, Director
    Sold
    under a preset trading plan
    Date
    15 July 2026
    Shares
    7,500
    Price
    $209.52
    Value
    $2m
  • Koopmans Chris
    President and COO
    Sold
    under a preset trading plan
    Date
    1 July 2026
    Shares
    10,000
    Price
    $281.92
    Value
    $3m
  • Durn Daniel
    Chief Financial Officer
    Sold
    Date
    23 June 2026
    Shares
    2,250
    Price
    $281.01
    Value
    $632,273
  • Bharathi Sandeep
    President, Data Center Group
    Sold
    under a preset trading plan
    Date
    16 June 2026
    Shares
    2,231
    Price
    $299.13
    Value
    $667,359

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the serious warning signs we check for were found. 1 thing worth knowing.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 11 Mar 2026, plus the 10-Q filed 28 Aug 2026 and 11 later 8-Ks.

  • One big customer

    Worth knowing

    One customer brings in a big share of sales: 37% last year. Losing that customer would hurt.

    “Net revenue attributable to significant customers including both distributor and direct customers whose revenues represented 10% or more of total net revenue is presented in the following table: Year Ended January 31, 2026 | February 1, 2025 | February 3, 2024 Direct Customer: Customer A | 14% | 13% | * Distributor: Distributor A | 37% | 34% | 24%”

    From the 10-K filed 11 March 2026, Item 8. Financial Statements and Notes (table). Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • Its accounts show patterns that sometimes come before companies have to correct past results (Beneish score).
  • It isn't cheap on profits: 161.9× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.