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Fabless·MRVL

Marvell Technology, Inc.

NASDAQ · US

Custom silicon, DSP, electro-optics, storage, and networking silicon supplier.

AI relevance

Custom ASIC and optical/networking silicon for AI clusters.

Fabless Networking Optics ASIC Connectivity Switching Other

Price

$216.62

Change

-24.83 (-10.28%)

Market cap

$189.7B

52w range

$61–$330

Exchange

NASDAQ

Country

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Price chart

MRVL market performance

Daily close for Marvell Technology, Inc.

Latest close: $216.6
Range move: +$139.4 (+180.5%)
Range high: $316.4
Range low: $62.31
Latest volume: 49.0M
Source: FMP EOD

Downloads

Exports

Download statements, ratios, chart data, and transcript indexes.

CSV

Income statement

12 annual rows

Revenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.

Annual

Balance sheet

12 annual rows

Cash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.

Annual

Cash flow

12 annual rows

Operating cash flow, capital expenditures, and free cash flow.

Annual

Key metrics

12 annual rows

Enterprise value, valuation multiples, returns, yields, and cash conversion.

Annual

Ratios

12 annual rows

Margins, liquidity ratios, valuation ratios, leverage, and per-share metrics.

Annual

Chart data

1255 rows

Five years of daily close and volume data powering the company chart.

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Transcript list

79 rows

Available earnings-call transcript dates by fiscal year and quarter.

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StreetBuy

Analyst expectations

Consensus target

$271.15

+25.2%

Target range

$155.00 - $400.00

Rating mix

Buy

73 ratings

Next FY revenue

$11.96B

2027-01-31

Next FY EPS

$4.20

$4.06 - $4.35

Rating consensus73 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2027-01-31	$11.96B	$11.81B - $12.19B	$4.20	$4.06 - $4.35	$6.24B	$5.10B	$3.66B	$1.77B	26 rev / 19 EPS
2028-01-31	$17.98B	$17.47B - $18.91B	$6.69	$6.24 - $7.37	$9.49B	$8.41B	$6.13B	$2.66B	26 rev / 25 EPS
2029-01-31	$25.43B	$19.64B - $30.17B	$10.04	$5.26 - $12.77	$14.00B	$12.89B	$9.48B	$3.76B	31 rev / 17 EPS
2030-01-31	$33.04B	$30.80B - $36.32B	$13.28	$12.10 - $14.99	$16.85B	$15.66B	$11.55B	$4.89B	28 rev / 7 EPS
2031-01-31	$49.10B	$45.76B - $53.97B	$18.21	$16.60 - $20.56	$22.82B	$21.39B	$15.84B	$7.27B	14 rev / 9 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-11-01	$3.15B	$3.12B - $3.22B	$1.10	$1.05 - $1.14	$1.71B	$1.41B	$1.01B	$465.7M	19 rev / 20 EPS
2027-02-01	$3.72B	$3.63B - $3.88B	$1.36	$1.28 - $1.47	$2.02B	$1.73B	$1.25B	$550.3M	10 rev / 10 EPS
2027-05-01	$3.98B	$3.91B - $4.12B	$1.44	$1.40 - $1.51	$2.12B	$1.83B	$1.32B	$588.4M	5 rev / 4 EPS
2027-08-01	$4.28B	$4.21B - $4.44B	$1.56	$1.53 - $1.63	$2.26B	$1.98B	$1.44B	$634.1M	5 rev / 4 EPS
2027-11-01	$4.66B	$4.58B - $4.83B	$1.75	$1.71 - $1.83	$2.49B	$2.21B	$1.61B	$689.9M	5 rev / 4 EPS
2028-02-01	$5.10B	$5.01B - $5.29B	$1.96	$1.92 - $2.05	$2.75B	$2.47B	$1.81B	$755.2M	4 rev / 5 EPS
2028-05-01	$5.51B	$5.41B - $5.71B	$2.08	$2.03 - $2.18	$2.90B	$2.62B	$1.92B	$815.6M	4 rev / 5 EPS
2028-08-01	$6.07B	$5.97B - $6.30B	$2.35	$2.29 - $2.46	$3.23B	$2.95B	$2.16B	$898.9M	4 rev / 5 EPS

Price target history

Window	Targets	Average target
Last month	18	$277.78
Last quarter	25	$297.64
Last year	95	$198.16
All time	187	$142.97

Sources: StreetInsider, Benzinga, Pulse 2.0, Investing, MarketWatch

Latest grade actions

Date	Firm	Action	Previous	New
2026-08-25	Susquehanna	Maintain	Positive	Positive
2026-08-25	Rosenblatt	Maintain	Buy	Buy
2026-08-24	Morgan Stanley	Maintain	Equal Weight	Equal Weight
2026-08-24	Wells Fargo	Maintain	Overweight	Overweight
2026-08-21	Citigroup	Maintain	Buy	Buy
2026-08-21	Oppenheimer	Maintain	Outperform	Outperform
2026-08-21	BMO Capital	Maintain	Outperform	Outperform
2026-08-20	UBS	Maintain	Buy	Buy

Historical rating snapshots

Date	Strong buy	Buy	Hold	Strong sell
2026-08-01	8	31	6	0
2026-07-01	8	31	6	1
2026-06-01	8	31	6	1
2026-05-01	8	31	6	1
2026-04-01	7	30	7	1
2026-03-01	7	30	11	0
2026-02-01	7	26	12	0
2026-01-01	7	26	14	0

FinancialsFY 2026

Financials

Revenue

$8.19B

Gross margin

51.0%

Operating income

$1.34B

Free cash flow

$1.40B

Cash + ST investments

$2.64B

Net debt

$2.15B

ROE

18.7%

ROIC

6.0%

EV / sales

8.6x

EV / EBITDA

15.4x

R&D / revenue

25.3%

Current ratio

2.0x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2026	$8.19B	$4.18B	51.0%	$2.08B	$1.34B	$4.54B	$2.67B	$3.10
FY 2025	$5.77B	$2.38B	41.3%	$1.95B	-$720.3M	$651.6M	-$885.0M	$-1.02
FY 2024	$5.51B	$2.29B	41.6%	$1.90B	-$567.7M	$850.7M	-$933.4M	$-1.08
FY 2023	$5.92B	$2.99B	50.5%	$1.78B	$238.0M	$1.65B	-$163.5M	$-0.19
FY 2022	$4.46B	$2.06B	46.3%	$1.42B	-$347.7M	$901.1M	-$421.0M	$-0.53
FY 2021	$2.97B	$1.49B	50.1%	$1.07B	-$258.4M	$388.6M	-$277.3M	$-0.41
FY 2020	$2.70B	$1.36B	50.3%	$1.08B	-$182.7M	$1.41B	$1.58B	$2.38
FY 2019	$2.87B	$1.46B	50.9%	$914.0M	$173.7M	$363.0M	-$179.1M	$-0.30
FY 2018	$2.41B	$1.46B	60.7%	$720.2M	$502.2M	$538.9M	$432.4M	$0.87
FY 2017	$2.30B	$1.29B	56.0%	$806.2M	$232.0M	$266.3M	$21.2M	$0.04
FY 2016	$2.65B	$1.29B	48.6%	$994.4M	$24.4M	-$644.3M	-$811.4M	$-1.59
FY 2015	$3.64B	$1.84B	50.5%	$1.09B	$456.4M	$605.5M	$435.3M	$0.85

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2026	$1.75B	$354.1M	$1.40B
FY 2025	$1.68B	$284.6M	$1.39B
FY 2024	$1.37B	$336.3M	$1.02B
FY 2023	$1.29B	$206.2M	$1.07B
FY 2022	$819.3M	$169.2M	$632.4M
FY 2021	$817.3M	$106.8M	$697.8M
FY 2020	$360.3M	$81.9M	$273.7M
FY 2019	$596.7M	$75.9M	$509.3M
FY 2018	$571.1M	$38.6M	$526.0M
FY 2017	-$358.4M	$44.5M	-$413.3M
FY 2016	$205.4M	$47.5M	$149.6M
FY 2015	$728.9M	$63.0M	$649.5M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2026	$2.64B	$2.19B	$1.39B	$1.22B	$22.29B	$4.79B	$2.15B	$7.98B	$14.31B
FY 2025	$948.3M	$1.03B	$1.03B	$1.04B	$20.20B	$4.34B	$3.39B	$6.78B	$13.43B
FY 2024	$950.8M	$1.12B	$864.4M	$959.6M	$21.23B	$4.40B	$3.45B	$6.40B	$14.83B
FY 2023	$911.0M	$1.19B	$1.07B	$788.7M	$22.52B	$4.74B	$3.83B	$6.88B	$15.64B
FY 2022	$613.5M	$1.05B	$720.3M	$604.8M	$22.11B	$4.73B	$4.11B	$6.41B	$15.70B
FY 2021	$748.5M	$536.7M	$268.2M	$427.5M	$10.76B	$1.33B	$581.2M	$2.33B	$8.44B
FY 2020	$647.6M	$492.3M	$323.0M	$468.0M	$11.13B	$1.58B	$935.9M	$2.45B	$8.68B
FY 2019	$582.4M	$493.1M	$276.0M	$319.0M	$10.02B	$1.73B	$1.15B	$2.71B	$7.31B
FY 2018	$1.84B	$280.4M	$170.0M	$202.2M	$4.71B	$0	-$888.5M	$566.9M	$4.14B
FY 2017	$1.67B	$335.4M	$170.8M	$243.4M	$4.65B	$0	-$814.1M	$621.0M	$4.03B
FY 2016	$2.28B	$323.3M	$201.0M	$296.8M	$5.44B	$0	-$1.28B	$1.30B	$4.14B
FY 2015	$2.53B	$421.0M	$308.2M	$340.6M	$5.88B	$0	-$1.21B	$738.3M	$5.15B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2026	51.0%	16.3%	32.6%	2.0x	1.6x	18.7%	6.0%	8.6x	15.4x	2.1%	25.3%	126d
FY 2025	41.3%	-12.5%	-15.3%	1.5x	1.0x	-6.6%	-3.9%	17.5x	155.1x	1.4%	33.8%	109d
FY 2024	41.6%	-10.3%	-16.9%	1.7x	1.2x	-6.3%	-2.9%	11.2x	72.6x	1.7%	34.4%	126d
FY 2023	50.5%	4.0%	-2.8%	1.4x	0.9x	-1.0%	-2.2%	6.9x	24.6x	2.9%	30.1%	149d
FY 2022	46.3%	-7.8%	-9.4%	1.8x	1.3x	-2.7%	-1.5%	13.7x	67.7x	1.1%	31.9%	125d
FY 2021	50.1%	-8.7%	-9.3%	1.5x	1.3x	-3.3%	-2.2%	12.1x	92.5x	2.0%	36.1%	70d
FY 2020	50.3%	-6.8%	58.7%	2.2x	1.7x	18.3%	-1.7%	6.3x	12.0x	1.7%	40.0%	96d
FY 2019	50.9%	6.1%	-6.2%	2.2x	1.8x	-2.5%	1.9%	4.2x	33.3x	4.6%	31.9%	86d
FY 2018	60.7%	20.8%	17.9%	5.6x	5.2x	10.4%	11.2%	4.5x	19.9x	4.5%	29.9%	52d
FY 2017	56.0%	10.1%	0.9%	4.6x	4.3x	0.5%	2.8%	2.9x	25.4x	-5.5%	35.0%	63d
FY 2016	48.6%	0.9%	-30.6%	2.4x	2.2x	-19.6%	0.6%	1.2x	-5.1x	3.3%	37.5%	50d
FY 2015	50.5%	12.5%	12.0%	5.2x	4.8x	8.5%	8.7%	1.8x	11.1x	8.2%	30.0%	47d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2026	+42.1%	+75.5%	+6.4%	+285.8%	+401.7%	+403.9%	+0.5%	-21.4%	+178.3%	+34.8%	+10.3%	+10.3%
FY 2025	+4.7%	+3.9%	+2.9%	-26.9%	+5.2%	+5.6%	+36.2%	+16.7%	-0.3%	+19.1%	-4.8%	-1.3%
FY 2024	-7.0%	-23.2%	+6.3%	-338.5%	-470.9%	-468.4%	-4.8%	-61.2%	+4.4%	-19.1%	-5.7%	-7.1%
FY 2023	+32.7%	+44.7%	+25.3%	+168.4%	+61.2%	+64.2%	+69.4%	-16.3%	+48.5%	+48.3%	+1.9%	+0.2%
FY 2022	+50.3%	+38.7%	+32.8%	-34.6%	-51.8%	-29.3%	-9.4%	-56.4%	-18.0%	+168.5%	+105.4%	+255.5%
FY 2021	+10.0%	+9.7%	-0.7%	-41.4%	-117.5%	-117.2%	+155.0%	-37.9%	+15.6%	-17.0%	-3.3%	-16.0%
FY 2020	-5.8%	-7.0%	+18.2%	-205.2%	+984.7%	+893.3%	-46.3%	+0.9%	+11.2%	+17.0%	+11.1%	-8.6%
FY 2019	+19.0%	-0.2%	+26.9%	-65.4%	-141.4%	-134.5%	-3.2%	-93.8%	-68.4%	+62.3%	+112.7%	0.0%
FY 2018	+4.7%	+13.4%	-10.7%	+116.4%	+1944.5%	+2075.0%	+227.3%	+17.7%	+10.4%	-0.5%	+1.3%	0.0%
FY 2017	-13.1%	+0.1%	-18.9%	+852.5%	+102.6%	+102.5%	-376.2%	+1.6%	-26.9%	-15.0%	-14.6%	0.0%
FY 2016	-27.2%	-29.9%	-8.9%	-94.7%	-286.4%	-287.1%	-77.0%	+29.9%	-9.8%	-34.8%	-7.5%	0.0%
FY 2015	+6.8%	+5.6%	-5.4%	+62.6%	+38.1%	+32.8%	+78.5%	+5.7%	+28.4%	-11.4%	+8.0%	0.0%

SegmentsFY 2026

Revenue Mix

Period	Total	Data Center	Enterprise Networking	Carrier Infrastructure	Consumer	Information Storage	Automotive And Industrial	Mobile and Wireless	Networking	Other products
FY 2026	$6.10B	$6.10B	--	--	--	--	--	--	--	--
FY 2025	$5.77B	$4.16B	$626.4M	$338.2M	$316.1M	--	$322.4M	--	--	--
FY 2024	$5.51B	$2.22B	$1.23B	$1.05B	$622.4M	--	$388.3M	--	--	--
FY 2023	$5.92B	$2.41B	$1.37B	$1.08B	$701.1M	--	$356.5M	--	--	--
FY 2022	$4.46B	$1.78B	$907.7M	$820.4M	$700.0M	--	$249.6M	--	--	--
FY 2015	$3.71B	--	--	--	--	$1.74B	--	$1.07B	$674.7M	$215.8M

Period	Total	CHINA	Other Countries	UNITED STATES	TAIWAN	THAILAND	MALAYSIA	SINGAPORE	JAPAN	PHILIPPINES	FINLAND
FY 2026	$8.19B	$2.97B	$2.39B	$1.17B	$1.66B	--	--	--	--	--	--
FY 2025	$5.77B	$2.51B	$563.3M	$956.9M	$560.7M	$304.4M	$143.1M	$452.2M	$166.2M	--	$112.9M
FY 2024	$5.51B	$2.37B	$667.1M	$795.6M	$161.9M	$329.2M	$222.6M	$336.2M	$169.1M	$74.6M	$380.4M
FY 2023	$5.92B	$2.49B	$716.3M	$690.1M	$289.0M	$391.9M	$393.2M	$331.7M	$260.0M	$171.5M	$189.6M
FY 2022	$4.46B	$1.97B	$719.5M	$484.0M	--	$355.3M	$276.0M	$220.8M	$222.8M	$213.4M	--
FY 2015	$3.71B	$2.21B	$502.8M	$62.3M	--	$294.7M	$377.9M	--	--	$254.4M	--

Transcripts

Events

Next earnings

2026-12-01EPS est $1.07

Recent filings

10-Q2026-08-28
8-K2026-08-27
8-K2026-08-19

Latest news

Marvell Technology Q2 Earnings Call Highlights
Defense World · 2026-08-29
Beacon Pointe Advisors LLC Acquires Shares of 40,498 Marvell Technology, Inc. $MRVL
Defense World · 2026-08-29

Analyst expectations

Consensus target

$271.15

+25.2%

Target range

$155.00 - $400.00

Rating mix

Buy

73 ratings

Next FY revenue

$11.96B

2027-01-31

Next FY EPS

$4.20

$4.06 - $4.35

Rating consensus73 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2027-01-31	$11.96B	$11.81B - $12.19B	$4.20	$4.06 - $4.35	$6.24B	$5.10B	$3.66B	$1.77B	26 rev / 19 EPS
2028-01-31	$17.98B	$17.47B - $18.91B	$6.69	$6.24 - $7.37	$9.49B	$8.41B	$6.13B	$2.66B	26 rev / 25 EPS
2029-01-31	$25.43B	$19.64B - $30.17B	$10.04	$5.26 - $12.77	$14.00B	$12.89B	$9.48B	$3.76B	31 rev / 17 EPS
2030-01-31	$33.04B	$30.80B - $36.32B	$13.28	$12.10 - $14.99	$16.85B	$15.66B	$11.55B	$4.89B	28 rev / 7 EPS
2031-01-31	$49.10B	$45.76B - $53.97B	$18.21	$16.60 - $20.56	$22.82B	$21.39B	$15.84B	$7.27B	14 rev / 9 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-11-01	$3.15B	$3.12B - $3.22B	$1.10	$1.05 - $1.14	$1.71B	$1.41B	$1.01B	$465.7M	19 rev / 20 EPS
2027-02-01	$3.72B	$3.63B - $3.88B	$1.36	$1.28 - $1.47	$2.02B	$1.73B	$1.25B	$550.3M	10 rev / 10 EPS
2027-05-01	$3.98B	$3.91B - $4.12B	$1.44	$1.40 - $1.51	$2.12B	$1.83B	$1.32B	$588.4M	5 rev / 4 EPS
2027-08-01	$4.28B	$4.21B - $4.44B	$1.56	$1.53 - $1.63	$2.26B	$1.98B	$1.44B	$634.1M	5 rev / 4 EPS
2027-11-01	$4.66B	$4.58B - $4.83B	$1.75	$1.71 - $1.83	$2.49B	$2.21B	$1.61B	$689.9M	5 rev / 4 EPS
2028-02-01	$5.10B	$5.01B - $5.29B	$1.96	$1.92 - $2.05	$2.75B	$2.47B	$1.81B	$755.2M	4 rev / 5 EPS
2028-05-01	$5.51B	$5.41B - $5.71B	$2.08	$2.03 - $2.18	$2.90B	$2.62B	$1.92B	$815.6M	4 rev / 5 EPS
2028-08-01	$6.07B	$5.97B - $6.30B	$2.35	$2.29 - $2.46	$3.23B	$2.95B	$2.16B	$898.9M	4 rev / 5 EPS

Price target history

Window	Targets	Average target
Last month	18	$277.78
Last quarter	25	$297.64
Last year	95	$198.16
All time	187	$142.97

Sources: StreetInsider, Benzinga, Pulse 2.0, Investing, MarketWatch

Latest grade actions

Date	Firm	Action	Previous	New
2026-08-25	Susquehanna	Maintain	Positive	Positive
2026-08-25	Rosenblatt	Maintain	Buy	Buy
2026-08-24	Morgan Stanley	Maintain	Equal Weight	Equal Weight
2026-08-24	Wells Fargo	Maintain	Overweight	Overweight
2026-08-21	Citigroup	Maintain	Buy	Buy
2026-08-21	Oppenheimer	Maintain	Outperform	Outperform
2026-08-21	BMO Capital	Maintain	Outperform	Outperform
2026-08-20	UBS	Maintain	Buy	Buy

Historical rating snapshots

Date	Strong buy	Buy	Hold	Strong sell
2026-08-01	8	31	6	0
2026-07-01	8	31	6	1
2026-06-01	8	31	6	1
2026-05-01	8	31	6	1
2026-04-01	7	30	7	1
2026-03-01	7	30	11	0
2026-02-01	7	26	12	0
2026-01-01	7	26	14	0

Financials

Revenue

$8.19B

Gross margin

51.0%

Operating income

$1.34B

Free cash flow

$1.40B

Cash + ST investments

$2.64B

Net debt

$2.15B

ROE

18.7%

ROIC

6.0%

EV / sales

8.6x

EV / EBITDA

15.4x

R&D / revenue

25.3%

Current ratio

2.0x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2026	$8.19B	$4.18B	51.0%	$2.08B	$1.34B	$4.54B	$2.67B	$3.10
FY 2025	$5.77B	$2.38B	41.3%	$1.95B	-$720.3M	$651.6M	-$885.0M	$-1.02
FY 2024	$5.51B	$2.29B	41.6%	$1.90B	-$567.7M	$850.7M	-$933.4M	$-1.08
FY 2023	$5.92B	$2.99B	50.5%	$1.78B	$238.0M	$1.65B	-$163.5M	$-0.19
FY 2022	$4.46B	$2.06B	46.3%	$1.42B	-$347.7M	$901.1M	-$421.0M	$-0.53
FY 2021	$2.97B	$1.49B	50.1%	$1.07B	-$258.4M	$388.6M	-$277.3M	$-0.41
FY 2020	$2.70B	$1.36B	50.3%	$1.08B	-$182.7M	$1.41B	$1.58B	$2.38
FY 2019	$2.87B	$1.46B	50.9%	$914.0M	$173.7M	$363.0M	-$179.1M	$-0.30
FY 2018	$2.41B	$1.46B	60.7%	$720.2M	$502.2M	$538.9M	$432.4M	$0.87
FY 2017	$2.30B	$1.29B	56.0%	$806.2M	$232.0M	$266.3M	$21.2M	$0.04
FY 2016	$2.65B	$1.29B	48.6%	$994.4M	$24.4M	-$644.3M	-$811.4M	$-1.59
FY 2015	$3.64B	$1.84B	50.5%	$1.09B	$456.4M	$605.5M	$435.3M	$0.85

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2026	$1.75B	$354.1M	$1.40B
FY 2025	$1.68B	$284.6M	$1.39B
FY 2024	$1.37B	$336.3M	$1.02B
FY 2023	$1.29B	$206.2M	$1.07B
FY 2022	$819.3M	$169.2M	$632.4M
FY 2021	$817.3M	$106.8M	$697.8M
FY 2020	$360.3M	$81.9M	$273.7M
FY 2019	$596.7M	$75.9M	$509.3M
FY 2018	$571.1M	$38.6M	$526.0M
FY 2017	-$358.4M	$44.5M	-$413.3M
FY 2016	$205.4M	$47.5M	$149.6M
FY 2015	$728.9M	$63.0M	$649.5M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2026	$2.64B	$2.19B	$1.39B	$1.22B	$22.29B	$4.79B	$2.15B	$7.98B	$14.31B
FY 2025	$948.3M	$1.03B	$1.03B	$1.04B	$20.20B	$4.34B	$3.39B	$6.78B	$13.43B
FY 2024	$950.8M	$1.12B	$864.4M	$959.6M	$21.23B	$4.40B	$3.45B	$6.40B	$14.83B
FY 2023	$911.0M	$1.19B	$1.07B	$788.7M	$22.52B	$4.74B	$3.83B	$6.88B	$15.64B
FY 2022	$613.5M	$1.05B	$720.3M	$604.8M	$22.11B	$4.73B	$4.11B	$6.41B	$15.70B
FY 2021	$748.5M	$536.7M	$268.2M	$427.5M	$10.76B	$1.33B	$581.2M	$2.33B	$8.44B
FY 2020	$647.6M	$492.3M	$323.0M	$468.0M	$11.13B	$1.58B	$935.9M	$2.45B	$8.68B
FY 2019	$582.4M	$493.1M	$276.0M	$319.0M	$10.02B	$1.73B	$1.15B	$2.71B	$7.31B
FY 2018	$1.84B	$280.4M	$170.0M	$202.2M	$4.71B	$0	-$888.5M	$566.9M	$4.14B
FY 2017	$1.67B	$335.4M	$170.8M	$243.4M	$4.65B	$0	-$814.1M	$621.0M	$4.03B
FY 2016	$2.28B	$323.3M	$201.0M	$296.8M	$5.44B	$0	-$1.28B	$1.30B	$4.14B
FY 2015	$2.53B	$421.0M	$308.2M	$340.6M	$5.88B	$0	-$1.21B	$738.3M	$5.15B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2026	51.0%	16.3%	32.6%	2.0x	1.6x	18.7%	6.0%	8.6x	15.4x	2.1%	25.3%	126d
FY 2025	41.3%	-12.5%	-15.3%	1.5x	1.0x	-6.6%	-3.9%	17.5x	155.1x	1.4%	33.8%	109d
FY 2024	41.6%	-10.3%	-16.9%	1.7x	1.2x	-6.3%	-2.9%	11.2x	72.6x	1.7%	34.4%	126d
FY 2023	50.5%	4.0%	-2.8%	1.4x	0.9x	-1.0%	-2.2%	6.9x	24.6x	2.9%	30.1%	149d
FY 2022	46.3%	-7.8%	-9.4%	1.8x	1.3x	-2.7%	-1.5%	13.7x	67.7x	1.1%	31.9%	125d
FY 2021	50.1%	-8.7%	-9.3%	1.5x	1.3x	-3.3%	-2.2%	12.1x	92.5x	2.0%	36.1%	70d
FY 2020	50.3%	-6.8%	58.7%	2.2x	1.7x	18.3%	-1.7%	6.3x	12.0x	1.7%	40.0%	96d
FY 2019	50.9%	6.1%	-6.2%	2.2x	1.8x	-2.5%	1.9%	4.2x	33.3x	4.6%	31.9%	86d
FY 2018	60.7%	20.8%	17.9%	5.6x	5.2x	10.4%	11.2%	4.5x	19.9x	4.5%	29.9%	52d
FY 2017	56.0%	10.1%	0.9%	4.6x	4.3x	0.5%	2.8%	2.9x	25.4x	-5.5%	35.0%	63d
FY 2016	48.6%	0.9%	-30.6%	2.4x	2.2x	-19.6%	0.6%	1.2x	-5.1x	3.3%	37.5%	50d
FY 2015	50.5%	12.5%	12.0%	5.2x	4.8x	8.5%	8.7%	1.8x	11.1x	8.2%	30.0%	47d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2026	+42.1%	+75.5%	+6.4%	+285.8%	+401.7%	+403.9%	+0.5%	-21.4%	+178.3%	+34.8%	+10.3%	+10.3%
FY 2025	+4.7%	+3.9%	+2.9%	-26.9%	+5.2%	+5.6%	+36.2%	+16.7%	-0.3%	+19.1%	-4.8%	-1.3%
FY 2024	-7.0%	-23.2%	+6.3%	-338.5%	-470.9%	-468.4%	-4.8%	-61.2%	+4.4%	-19.1%	-5.7%	-7.1%
FY 2023	+32.7%	+44.7%	+25.3%	+168.4%	+61.2%	+64.2%	+69.4%	-16.3%	+48.5%	+48.3%	+1.9%	+0.2%
FY 2022	+50.3%	+38.7%	+32.8%	-34.6%	-51.8%	-29.3%	-9.4%	-56.4%	-18.0%	+168.5%	+105.4%	+255.5%
FY 2021	+10.0%	+9.7%	-0.7%	-41.4%	-117.5%	-117.2%	+155.0%	-37.9%	+15.6%	-17.0%	-3.3%	-16.0%
FY 2020	-5.8%	-7.0%	+18.2%	-205.2%	+984.7%	+893.3%	-46.3%	+0.9%	+11.2%	+17.0%	+11.1%	-8.6%
FY 2019	+19.0%	-0.2%	+26.9%	-65.4%	-141.4%	-134.5%	-3.2%	-93.8%	-68.4%	+62.3%	+112.7%	0.0%
FY 2018	+4.7%	+13.4%	-10.7%	+116.4%	+1944.5%	+2075.0%	+227.3%	+17.7%	+10.4%	-0.5%	+1.3%	0.0%
FY 2017	-13.1%	+0.1%	-18.9%	+852.5%	+102.6%	+102.5%	-376.2%	+1.6%	-26.9%	-15.0%	-14.6%	0.0%
FY 2016	-27.2%	-29.9%	-8.9%	-94.7%	-286.4%	-287.1%	-77.0%	+29.9%	-9.8%	-34.8%	-7.5%	0.0%
FY 2015	+6.8%	+5.6%	-5.4%	+62.6%	+38.1%	+32.8%	+78.5%	+5.7%	+28.4%	-11.4%	+8.0%	0.0%

Revenue Mix