Marvell Technology, Inc.

MRVL

Semiconductors & Related Devices

Mkt Cap

$67.7B

PE

-72.53

Debt

$4.307B

Cash

$950.8M

EV

$71.05B

FCF

$1.034B

Market Cap

$67.7B

P/E Ratio

-72.53

Debt

$4.307B

Cash

$950.8M

EV

$71.05B

FCF

$1.034B

Charts data: {"Earnings":[{"time":"2020-01-31","value":1584391000},{"time":"2021-01-29","value":-277298000},{"time":"2022-01-28","value":-421034000},{"time":"2023-01-27","value":-163500000},{"time":"2024-02-02","value":-933400000}],"Sales":[{"time":"2020-01-31","value":2699161000},{"time":"2021-01-29","value":2968900000},{"time":"2022-01-28","value":4462383000},{"time":"2023-01-27","value":5919600000},{"time":"2024-02-02","value":5507700000}],"Net Margins":[{"time":"2020-01-31","value":0.5869938843959289},{"time":"2021-01-29","value":-0.09340092290073765},{"time":"2022-01-28","value":-0.09435182950454947},{"time":"2023-01-27","value":-0.02762010946685587},{"time":"2024-02-02","value":-0.16947183034660565}],"Assets":[{"time":"2021-01-29","value":10764924000},{"time":"2022-01-28","value":22108597000},{"time":"2023-01-27","value":22522100000},{"time":"2024-02-02","value":21228500000}],"Stockholders Equity":[{"time":"2020-01-31","value":8678580000},{"time":"2021-01-29","value":8435804000},{"time":"2022-01-28","value":15702097000},{"time":"2023-01-27","value":15637200000},{"time":"2024-02-02","value":14831400000}],"ROE":[{"time":"2020-01-31","value":0.18256339170693822},{"time":"2021-01-29","value":-0.03287155557431159},{"time":"2022-01-28","value":-0.026813870784265312},{"time":"2023-01-27","value":-0.010455836083186247},{"time":"2024-02-02","value":-0.06293404533624607}],"ROA":[{"time":"2021-01-29","value":-0.02400286337367547},{"time":"2022-01-28","value":-0.015566749893717815},{"time":"2023-01-27","value":0.01135329298777645},{"time":"2024-02-02","value":-0.02576724686153049}]}

Marvell Technology, Inc., together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; custom application specific integrated circuits; and System-on-a-Chip solutions. The company also provides electro-optical products, including pulse amplitude modulations, coherent digital signal processors, laser drivers, trans-impedance amplifiers, silicon photonics, and data center interconnect solutions; fibre channel products comprising host bus adapters and controllers; single or multiple core processors; storage controllers for hard disk drives and solid-state-drives; and host system interfaces, including serial attached SCSI, serial advanced technology attachment, peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics. It has operations in the United States, Argentina, China, India, Israel, Japan, Singapore, South Korea, Taiwan, and Vietnam. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.

Sector

10-Q
10/28/23
10-Q
7/29/23
10-Q
4/29/23
10-K
1/28/23
10-Q
10/29/22
10-Q
7/30/22
10-Q
4/30/22
10-K
1/29/22
10-Q
10/30/21
10-Q
7/31/21
10-Q
5/1/21

DCF

Discounted Cash Flow Valuation of Marvell Technology, Inc.

Calculate

Growth Years

Growth

Start

End

Discount

Start

End

Multiple

g\r	+10%	+11%	+12%	+13%	+14%
0%	10	9	8	8	7
+1%	11	10	9	8	8
+2%	13	11	10	9	8
+3%	14	13	11	10	9
+4%	17	14	12	11	10

Years	0	1	2	3	4	5	6	7	8	9	10	TV
FCF	$1.034B	$1.283B	$1.564B	$1.873B	$2.204B	$2.547B	$2.89B	$3.218B	$3.515B	$3.765B	$3.953B	$39.53B
DCF		$1.115B	$1.182B	$1.232B	$1.26B	$1.266B	$1.249B	$1.21B	$1.149B	$1.07B	$977.1M	$9.771B
Value	$21.48B

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth -

Earnings Stability -

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Data are missing

Years	01-2020	01-2021	01-2022	01-2023	02-2024	TTM
Net Margin	59%	-9.3%	-9.4%	-2.8%	-17%	-17%
ROA	-	-2.4%	-1.6%	1.1%	-2.6%	-2.6%
ROE	18%	-3.3%	-2.7%	-1%	-6.3%	-6.3%

What is the average Net Margin?

The average Net Margin over the past 5 years is -16.95%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is -2.58%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is -6.29%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

The company has high debt with respect to the cashflow it generates.

The Graham’s stability indicate a relevant drawdown, consider checking when it has occured and why.

Years	01-2020	01-2021	01-2022	01-2023	02-2024	TTM
Debt FCF	-	1.97	7.16	4.72	4.16	4.16
Debt Equity	-	0.17	0.30	0.33	0.29	0.29
MIN
Graham Stability	-	-	-	-55%	-	-55%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 4.16.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -.

What is the Graham’s Stability?

Graham’s Stability measure stands at -0.55.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Data are missing

Years	01-2021	01-2023	Trend
Revenue	23%	-7%	-6.9%
Net Income	-	-	-
Stockholders Equity	21%	-5.2%	-9.4%
FCF	13%	-4.5%	-40%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is -.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -6.85%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is -.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is -.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -9.36%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is -.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -40.4%.