MRVL
Updated: 23/09/2026, 04:14:01
Marvell Technology, Inc., together with its subsidiaries, provides data infrastructure semiconductor solutions and spanning the data center core to network edge in the United States, Argentina, China, India, Israel, Japan, Singapore, South Korea, Taiwan, Vietnam, and internationally. The company develops and scales system-on-a-chip architectures, integrating analog, mixed-signal, and digital signal processing functionality. It offers a portfolio of ethernet solutions, including spanning controllers, network adapters, physical transceivers, and switches; single or multiple core processors; and custom application specific integrated circuits, interconnects, fibre channel adapters, and processors. The company also provides interconnect products, including pulse amplitude modulation, coherent and coherent-lite digital signal processors (DSPs), laser drivers, trans-impedance amplifiers, silicon photonics, co-packaged optics, linear pluggable optics chipsets, data center interconnect, active electrical cable DSPs and peripheral component interconnect express retimer solutions; fibre channel products comprising host bus adapters and controllers for server and storage system connectivity; storage controllers for hard disk drives and solid-state-drives; host system interfaces, including serial advanced technology attachment and serial attached SCSI, peripheral component interconnect express, compute express link switches, non-volatile memory express (NVMe), and NVMe over fabrics; and develops ultra accelerator linkTM switches and ethernet for scale-up networking switches. The company serves data centers, communications, and other markets. It offers its products through direct customers and distributors. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.
No summaries found.
Reported and calculated KPIs plus operational exposure disclosed in the FY 2026 filing.
Revenue
$8.2B
FY 2026 · Reported
Net income
$2.7B
FY 2026 · Reported
Gross margin
51.0%
FY 2026 · Calculated
Free cash flow
$1.4B
FY 2026 · Calculated
R&D intensity
25.3%
FY 2026 · Calculated
Share repurchases
$2.0B
FY 2026 · Reported
Map layer
Pins show disclosed operations. The heatmap colors the filing’s reported geographies; regional figures shade the region and are not estimates for each country.
Only locations and quantities explicitly supported by the filing are displayed. A country-level manufacturing percentage or product allocation is shown only when the source discloses it; materiality scores are never presented as production shares.
Company overview
Fabless supplier of data infrastructure semiconductor solutions spanning data center core to network edge
“We are a leading supplier of data infrastructure semiconductor solutions, spanning the data center core to network edge. We are a fabless supplier of high-performance semiconductor products”
Customer and channel composition
Sales through distributors and direct customers; credit risk mitigated by distributors' diverse end customers and non-recourse receivables factoring
“We regularly monitor the creditworthiness of our distributor and direct customers, and believe these distributors’ sales to diverse end customers and geographies further serve to mitigate our exposure to credit risk.”
Revenue by customer operations geography
Sales shipped to customers with operations in Asia: ~77% (FY2026), ~75% (FY2025), ~70% (FY2024) of net revenue
“Sales shipped to customers with operations in Asia represented approximately 77% of our net revenue in fiscal 2026, 75% of our net revenue in fiscal 2025 and 70% of our net revenue in fiscal 2024.”
Net revenue by end market FY2026 vs FY2025
FY2026 net revenue $8.2B (+42% vs $5.8B FY2025); data center +46%, communications and other +31%, partially offset by automotive ethernet divestiture
“Net revenue in fiscal 2026 was $8.2 billion, 42% higher than net revenue of $5.8 billion in fiscal 2025. This was due to increases in sales from the data center end market by 46% and from the communications and other end market by 31%.”
Commodity raw materials exposure
Exposure to fluctuating prices of gold and copper used in end products and supplier manufacturing
“increasing or fluctuating market prices of certain commodity raw materials, including gold and copper, which are incorporated into our end products”
Employees and geographic distribution
7,480 employees as of January 31, 2026: 49% Americas, 42% APAC (incl. India), 9% EMEA; ~7% voluntary turnover in fiscal 2026
“The Company employed 7,480 people as of January 31, 2026. Our employees are located across three geographical regions: 49% of employees are based in the Americas, 42% are in APAC (which includes India) and 9% are in EMEA.”
Celestial AI acquisition
Acquired Celestial AI, Inc. on February 2, 2026 for ~$1.3B cash + ~24.5M shares; Photonic Fabric interconnect platform for next-generation AI and cloud data centers
“on February 2, 2026, we completed the previously announced acquisition of Celestial AI, Inc. (“Celestial”), a provider of a Photonic FabricTM technology platform purpose-built for next-generation scale-up interconnect.”
XConn Technologies acquisition
Acquired XConn Technologies on February 10, 2026 for ~$280.0M cash + ~2.1M shares; PCIe and CXL switching silicon
“on February 10, 2026, we completed our acquisition of XConn Technologies Holdings, Ltd. (“XConn”), a provider of advanced PCIe and CXL switching silicon”
AI-related demand for data center products
Data center revenue growth driven by AI-related demand for custom products and electro-optics portfolio
“Strong revenue growth from our data center market was driven by AI-related demand for our custom products and electro-optics portfolio.”
Sale of automotive ethernet business
Sold automotive ethernet business to Infineon Technologies AG for $2.5 billion in cash on August 14, 2025; $1.8 billion pre-tax gain recorded in Q3 fiscal 2026
“On August 14, 2025, we completed the sale of our automotive ethernet business to Infineon Technologies AG for $2.5 billion in cash.”
Power efficiency as competitive advantage
Power efficiency of products is both an environmental imperative and a key competitive advantage as AI energy demands rise
“Our focus on power efficiency of our products is both an environmental imperative and a key competitive advantage, as energy costs represent a substantial expense for our customers.”
Debt and credit facilities as of January 31, 2026
$4.5B total borrowings ($499.8M due within 12 months); $1.5B undrawn 2025 Revolving Credit Facility; issued $500M 2030 and $500M 2035 Senior Notes on June 30, 2025
“As of January 31, 2026, we had total borrowings outstanding of $4.5 billion, consisting of senior notes outstanding, of which $499.8 million are due within twelve months.”
Tariff and supply-demand monitoring
Company continues to monitor tariff environment for potential long-term supply and demand impact
“We continue to monitor the environment for potential long-term impact on supply and demand from tariffs.”
Liquidity and operating cash flow
$2.6B cash at Jan 31, 2026; $1.8B operating cash flow in fiscal 2026; net income $2.7B including $1.8B gain on automotive ethernet sale
“Net cash provided by operating activities was $1.8 billion for fiscal 2026 compared to net cash provided by operating activities of $1.7 billion for fiscal 2025.”
Capital return program
Returned $2.2B to stockholders in fiscal 2026 ($2.0B buybacks incl. $1.0B ASR + $205.1M dividends); $5.5B remaining repurchase authorization
“During fiscal 2026, we repurchased 26.6 million shares of our common stock for $2.0 billion. As of January 31, 2026, $5.5 billion remained available for future stock repurchases.”
Government incentives
Government incentives in a foreign jurisdiction approved May 1, 2025 for incentive period Feb 2, 2025–Feb 1, 2030; subject to minimum investment levels and clawback risk
“On May 1, 2025, we received notification that our application for government incentives in a foreign jurisdiction in which we operate had been approved by the necessary government agencies.”
Taiwan geographic concentration risk
Substantial revenue from products manufactured in Taiwan; disruptions to Taiwan business will adversely impact the company
“a substantial amount of our revenue is derived from products manufactured in Taiwan and as a result, disruptions to business in Taiwan, whether political, military, natural disasters or other events will adversely impact our business.”
US export restrictions on Chinese customers
U.S. export restrictions on certain Chinese customers expected to continue to impact revenue; China customers may stockpile, substitute, or develop indigenous alternatives
“We expect that the U.S. government’s export restrictions on certain Chinese customers to continue to impact our revenue.”
Customer and data center end market concentration
Dependence on a few customers for significant portion of revenue and concentration in the data center end market
“risks related to our dependence on a few customers for a significant portion of our revenue, particularly as our major customers comprise an increasing percentage of our revenue, as well as risks related to a significant portion of our sales being concentrated in the data center end market”
AI capex sustainability and demand risk
AI infrastructure capex may not be sustainable long term; significant reduction in AI-related spending would likely harm financial results
“the current level of capital expenditure (capex) on AI infrastructure may not be sustainable over the long term and a significant reduction in AI-related spending will likely harm our financial results.”
Supply chain and foundry capacity constraints
Very limited number of advanced-technology foundries; products typically designed for one foundry process; capacity may be reallocated; capacity commitments can be costly
“While we attempt to create multiple sources for our products, most of our products are not manufactured at more than one foundry at any given time, and our products typically are designed to be manufactured in a specific process at only one of these foundries.”
Israel and Middle East conflict exposure
Employees in Israel potentially impacted by armed conflict in Israel and the Middle East; full impact not currently predictable
“We have employees in Israel. These employees may be impacted by: (1) disruptions to operations and business continuity”
Fiscal 2026 data center revenue growth of 46% driven by AI-related demand for custom products and electro-optics; however, AI infrastructure capex sustainability is a disclosed risk.
“Strong revenue growth from our data center market was driven by AI-related demand for our custom products and electro-optics portfolio.”
Most qualified foundries located in the same region within Taiwan; substantial revenue from products manufactured in Taiwan; disruptions (political, military, natural disasters, earthquakes) would adversely impact business.
“Most of our current qualified integrated circuit foundries are located in the same region within Taiwan.”
Data center end market drove 46% sales growth in fiscal 2026; significant portion of sales concentrated in this end market, which is a disclosed concentration risk.
“This was due to increases in sales from the data center end market by 46%”
Fabless model relies entirely on third-party manufacturing partners; products typically single-sourced at one foundry; assembly, testing and packaging partners may be single sourced; limited alternative advanced-technology foundries.
“our assembly, testing and packaging partners may be single sourced and it may be difficult for us to transition to other manufacturing partners for these services.”
Dependence on a few customers for a significant portion of revenue, with major customers comprising an increasing percentage of revenue, plus design win gain/loss risk.
“risks related to our dependence on a few customers for a significant portion of our revenue, particularly as our major customers comprise an increasing percentage of our revenue”
Current AI infrastructure capex may not be sustainable long term; a significant reduction in AI-related spending will likely harm financial results; customers may decelerate or reallocate capex.
“the current level of capital expenditure (capex) on AI infrastructure may not be sustainable over the long term and a significant reduction in AI-related spending will likely harm our financial results.”
Export restrictions expected to continue reducing revenue; customers may amass inventories ahead of need, replace Marvell products, or develop indigenous solutions as replacements.
“Customers in China may also choose to develop indigenous solutions, as replacements for products that are subject to U.S. export controls.”
US export restrictions on certain Chinese customers expected to continue impacting revenue; Chinese customers may stockpile inventories, switch suppliers, or develop indigenous replacements.
“We expect that the U.S. government’s export restrictions on certain Chinese customers to continue to impact our revenue.”
Risks from tariffs and trade restrictions with China and other foreign nations; customers in restricted jurisdictions may vertically integrate or source from third parties; company monitors long-term supply/demand impact from tariffs.
“We continue to monitor the environment for potential long-term impact on supply and demand from tariffs.”
Sales to customers in Asia represented ~77% of fiscal 2026 net revenue, with many customer manufacturing operations located in Asia including China; tariff and trade restriction risks specifically cited with China.
“Sales shipped to customers with operations in Asia represented approximately 77% of our net revenue in fiscal 2026, 75% of our net revenue in fiscal 2025 and 70% of our net revenue in fiscal 2024.”
Celestial AI acquisition (completed February 2, 2026) provides Photonic Fabric platform for next-generation scale-up interconnect, expected to accelerate connectivity strategy for next-generation AI and cloud data centers.
“a provider of a Photonic FabricTM technology platform purpose-built for next-generation scale-up interconnect. The acquisition of Celestial is expected to accelerate our connectivity strategy for next-generation AI and cloud data centers.”
Armed conflict in Israel and the Middle East poses operational and workforce risks including mobilization of Israeli military reserve employees; not currently expected to be material but full impact unpredictable.
“For example, we are subject to risks related to armed conflict in Israel and the Middle East. We have employees in Israel.”
Copper is incorporated into end products or used by suppliers to manufacture end products; subject to increasing or fluctuating market price risk.
“increasing or fluctuating market prices of certain commodity raw materials, including gold and copper, which are incorporated into our end products”
Gold is incorporated into end products or used by suppliers to manufacture end products; subject to increasing or fluctuating market price risk.
“increasing or fluctuating market prices of certain commodity raw materials, including gold and copper, which are incorporated into our end products”
See which prediction-market events move MRVL, how its filings map to real-world exposure, and what 12 AI strategies are doing with positions like it.
Free forever to follow AlphaBrain’s AI strategies. No card required.
Prediction: This Will Be the Next $1 Trillion Artificial Intelligence (AI) Chip Stock, According to Jensen Huang
The Motley Fool • STOCK • 14/06/2026, 12:00:00
Why Marvell Technology Stock Surged This Week
The Motley Fool • STOCK • 14/06/2026, 08:35:00
What's Going on With Marvell Stock?
The Motley Fool • STOCK • 13/06/2026, 17:17:52
Is Marvell Stock a Buy After It Joins the S&P 500?
The Motley Fool • STOCK • 12/06/2026, 06:35:00
Is it Too Late to Buy Marvell Stock?
The Motley Fool • STOCK • 12/06/2026, 02:02:05
Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
Zacks Investment Research • STOCK • 11/06/2026, 18:01:09
Marvell Just Ripped 57% in a Month. Will the June 22 S&P 500 Listing Be a Sell-the-News Event?
24/7 Wall Street • STOCK • 11/06/2026, 16:38:00
Marvell Technology: Better AI Stock Than Nvidia
Seeking Alpha • STOCK • 11/06/2026, 09:31:35
Up Nearly 200% Year-to-Date: 1 Blinking Red Light That Makes Marvell Technology Stock a Hold at $289
24/7 Wall Street • STOCK • 09/06/2026, 17:50:17
Qualcomm Drops 8% on ByteDance ASIC Deal, Marvell Falls 10% as Custom-Silicon Stocks Slide
24/7 Wall Street • STOCK • 09/06/2026, 13:47:20
Can Marvell Technology Sustain Its AI Data Center Growth Momentum?
Zacks Investment Research • STOCK • 09/06/2026, 13:30:41
Novo Resources unveils maiden 87,000-ounce gold resource at Victorian Belltopper project
Proactive Investors - Finance • STOCK • 09/06/2026, 13:10:00
