Aureus
FRed Flag

Marvell Technology, Inc.(MRVL)

F

Financial data as of Jan 31, 2026Declining · Technology

FCF Margin9.8%Free Cash Flow / Revenue
Cash Conversion65.6%Operating CF / Net Income
Free Cash Flow$1.4B
Revenue$8.2B
Net Cash-$2.2BNet debt position
Debt / FCF6.0xElevated debt burden
Current Ratio2.01Adequate short-term liquidity
YoY FCF Growth-61.0%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseD
→
-0.5Elevated debt-to-FCF ratio (6.0x)
→
-1Significant YoY FCF decline (-61.0%)
→
+0.25Solid revenue growth (22.1% YoY)
→
FinalF

Analysis Summary

Strengths

  • Strong liquidity (current ratio: 2.01)
  • Strong revenue growth (22.1% YoY)

Concerns

  • Low FCF margin (9.8%)
  • Heavy debt position ($2.2B net debt, 6.0x FCF)
  • High debt-to-FCF ratio (6.0x)
  • Significant YoY FCF decline (-61.0%)
SBC-adjusted FCF used — $0.6B stock-based compensation (42% of reported FCF) subtracted

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin9.8%
Net Margin32.6%
Operating CF Margin21.4%
CapEx Ratio4.4%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$2.2BNet debt position
Debt / FCF6.0xElevated debt burden
Current Ratio2.01Strong liquidity
Debt / Equity0.33Low leverage

Quarterly FCF Trend

-61.0% YoYDeclining (-61.0%)

Free cash flow per quarter

Sector Comparison — Technology

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameMarvell Technology, Inc.
SectorTechnology
Free Cash Flow$1.4B
Revenue$8.2B
Net Income$2.7B
Operating Cash Flow$1.8B
Capital Expenditure$358.6M
FCF Margin9.8%
Cash Conversion Rate65.6%
Net Margin32.6%
Total Debt$4.8B
Total Cash$2.6B
Net Cash-$2.2B
Current Ratio2.01
Debt / Equity0.33
Debt / FCF6.0x
YoY FCF Growth-61.0%
Positive Quarters5 of 5
Trend DirectionDeclining
Report DateJan 31, 2026
GradeF
Data SourceYahoo Finance