Maxlinear, Inc

Technology
Semiconductors
www.maxlinear.com

Earnings Score
Moat Score
Safety Score

Market Cap $1.39B
PE -6
Debt $125.00M
Cash $119.60M
EV $1.39B
FCF -$62.98M

Earnings

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Sales & Net Margins

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Earnings	-$245.20M
EBIT	-$223.35M
ROE	-47%
ROA	-26%
FCF	-$62.98M
Equity	$516.28M
Growth Stability	-804%
PE	-5.66
PEG	-9.14
PB	2.69
P/FCF	-22.04
P/S	3.85
Price/Cash	0.09
Debt/Equity	0.24
Debt/FCF	-1.98
Net Margins	-68%
Gross Margins	54%
Op. Margins	-62%
Earnings CAGR	2%
Sales Growth YoY	-26%
Sales Growth QoQ	14%
Sales CAGR	10%
FCF CAGR	-1%
Equity CAGR	11%
Earnings Stability	0.06
Earnings Growth YoY	50%
Earnings Growth QoQ	-24%

Earnings CAGR 5Y	1%
Sales CAGR 5Y	6%
FCF CAGR 5Y	-6%
Equity CAGR 5Y	12%
Earnings CAGR 3Y	-35%
Sales CAGR 3Y	-35%
FCF CAGR 3Y	-43%
Equity CAGR 3Y	-1%
Market Cap	$1.39B
Revenue	$360.53M
Assets	$864.64M
Total Debt	$125.00M
Cash	$119.60M
Shares Outstanding	83.6M
EV	1.39B
Earnings Score	6%
Moat Score	1%
Safety Score	35%
Final Score	14%
Working Capital	141.16M
Current Ratio	1.77
Gross Profit	$194.78M
Shares Growth 3y	3%
Equity Growth QoQ	-7%
Equity Growth YoY	-25%

Assets & ROA

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Stockholders Equity & ROE

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MaxLinear Inc is a provider of radio frequency and mixed-signal integrated circuits for cable and satellite broadband communications, the connected home, and for data center, metro, and long-haul fiber networks. The company's radio frequency receiver products capture and process digital and analog broadband signals to be decoded for various applications. MaxLinear's product options include both radio frequency receivers and radio frequency receiver systems-on-chips. The company's products enable the distribution and display of broadband video and data content in a wide range of electronic devices. Customers for MaxLinear include original equipment manufacturers, module makers, and original design manufacturers.

SEC Filings

Direct access to Maxlinear, Inc (MXL) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Maxlinear, Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Maxlinear, Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 2%

Stability 6%

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Maxlinear, Inc Discounted Cash Flow

Fully customizable DCF calculator online for Maxlinear, Inc.

Years

Calculation mode

= -$573M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$63M	-$62M	-$61M	-$60M	-$60M	-$59M	-$58M	-$57M	-$56M	-$55M	-$55M	-$547M
DCF		-$56M	-$51M	-$45M	-$41M	-$36M	-$33M	-$29M	-$26M	-$24M	-$21M	-$211M
Value	-$573M

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.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-14%	16%	-2%	-7%	-6%	-21%	5%	11%	-11%	-68%	-68%
ROA	-	15%	-3%	-3%	-3%	-10%	6%	15%	-4%	-26%	-26%
ROE	-	17%	-2%	-7%	-5%	-25%	9%	18%	-11%	-47%	-47%

Bad Net Margins (-68.01%)

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

Safety and Stability

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.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	0	5.14	2.7	2.97	6.05	2.4	0.36	4.18	-1.98	-1.98
Debt over Equity	-	0	0.9	0.64	0.51	0.95	0.63	0.18	0.18	0.24	0.24
Growth Stability	-	-	-	-804%	-230%	-	-	-	-321%	-784%	-804%

Good Debt/FCF ratio (-1.98)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.24)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-804%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

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.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	29%	8%	-8%	-18%	51%	86%	26%	-38%	-48%	6%
Earnings YoY growth	-	-245%	-115%	185%	-24%	395%	-143%	198%	-158%	235%	1%
Equity YoY growth	-	34%	10%	3%	4%	-6%	25%	38%	1%	-25%	12%
FCF YoY growth	-	109%	-38%	40%	-25%	-14%	111%	169%	-91%	-310%	-6%