MRVL Analysis — TradeApes

Marvell Technology, Inc. (MRVL)

Technology Semiconductors

$194.94 close · Jul 21, 2026

Above 200 SMA

52W -33.6% from High

Methodology Breakdown

Methods agree on direction (under/over-valued) but the magnitudes diverge widely. The zone is defensible; the specific dollar isn't.

Method	Value	Role
DCF (Base Case)	$7.15	REFERENCE
DCF (TTM-anchored)	$9.81	REFERENCE
Peer Multiples	$35.53	REFERENCE
Earnings Power Value	$3.68	REFERENCE
Book Value Anchor	$117.77	REFERENCE
Earnings Anchor	$119.13	REFERENCE
Cash Floor	$3.01	REFERENCE
NAV Anchor	$117.77	REFERENCE

Verdict basis:


              direction_agreement

Health Score

Out of 100

Mixed

Pillar Scores

Financial Strength 75

Operating Trend 50

Valuation 20

Capital Allocation 40

Risk Management 70

Positives

↑ Low leverage — net debt/EBITDA below 1× +2.5

↑ Free cash flow positive — business generates real spendable cash +2.5

↑ Adequate interest coverage — EBIT covers interest 4–10× +1.3

Concerns

↓ Extreme P/E — above 45×, very high expectations embedded in price -5.0

↓ Low FCF yield — below 1%, price implies exceptional future growth -2.5

↓ Debt increasing — total debt up more than 10% year over year -1.5

Signal contribution: +7.6 from strengths -11.3 from concerns

Health Score Trend 7 snapshots

Cross-Check: Greenblatt Magic Formula

✓ Aligned

Earnings Yield

1.2%

Rank 1125 / 1256

Return on Capital

40.8%

Rank 632 / 1256

Combined Rank

23th pctl

1256 companies ranked

Based on Joel Greenblatt's Magic Formula methodology. Not investment advice.

Financials

TTM Financials

Revenue ?Total sales generated from the company's primary business activities over the trailing twelve months.	8.72B
Gross Profit ?Revenue minus cost of goods sold. What remains before operating expenses — reflects pricing power and production efficiency.	4.49B
Operating Income ?Profit from core business operations after all operating expenses (EBIT). Excludes interest and taxes.	1.39B
Net Income ?Bottom-line profit after all expenses, interest, and taxes are deducted from revenue.	2.53B
Free Cash Flow ?Operating cash flow minus capital expenditures. The actual cash the business generates after maintaining its assets — the truest measure of profitability.	1.67B
EBITDA ?Earnings before interest, taxes, depreciation & amortization. A proxy for operating cash earnings that strips out accounting and financing differences.	1.61B
Total Debt ?Combined short-term and long-term interest-bearing debt obligations. Compare against cash and earnings to gauge leverage risk.	4.96B
Cash & Equivalents ?Highly liquid assets on hand — cash, money market funds, and short-term securities. The company's immediate financial cushion.	3.84B

Valuation

Market Cap	174.14B
Enterprise Value	175.57B
EV / Revenue	20.1x
EV / EBITDA	108.8x
P/E (TTM)	68.9x
Forward P/E (extrapolated)	35.3x
PEG	0.1x
P/FCF	104.6x
FCF Yield	1.0%

EV/EBITDA vs history — 43% percentile (mid-range)

CheapMidExpensive

EV/Sales vs history — 61% percentile (mid-range)

CheapMidExpensive

P/Book vs history — 70% percentile (historically expensive)

CheapMidExpensive

DCF Fair Value Range (base CAGR: 30.8%)

Bear

$68.99

Base

$158.83

Bull

$341.32

Bear $69 Current $194.94 (in range) Bull $341

Market is pricing in 34.8% FCF growth annually — base model assumes 30.8%

Key Metrics

Gross Margin ?Gross profit as a % of revenue. Measures how efficiently the company produces its goods or services — higher is better.	51.5%
EBITDA Margin ?EBITDA as a % of revenue. Shows core operating profitability before accounting adjustments — useful for comparing across industries.	18.5%
Net Margin ?Net income as a % of revenue. The ultimate measure of overall profitability after every expense, interest payment, and tax is accounted for.	29.0%
FCF Margin ?Free cash flow as a % of revenue. Shows how much of each dollar of revenue converts into real, spendable cash.	19.1%
Revenue Growth (YoY) ?Year-over-year change in total revenue. Measures business momentum — sustained growth above 15% is typically considered strong.	34.1%
Net Income Growth (YoY) ?Year-over-year change in net income. Shows whether profits are growing faster or slower than revenue — a key indicator of improving or deteriorating quality.	614.1%
Piotroski F-Score ?Score from 0–9 measuring financial strength across profitability, leverage, and efficiency signals. 8–9 = strong, 0–2 = distressed.	5 / 9
Altman Z-Score ?Bankruptcy risk model. Above 2.99 = safe zone, 1.81–2.99 = grey zone, below 1.81 = distress signal. Most useful for manufacturing companies.	2.92

Community Sentiment

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Quarterly Financials

Metric	Q1 '27	Q4 '26	Q3 '26	Q2 '26	Q1 '26	Q4 '26	Q3 '26	Q2 '26	Q1 '25	Q4 '24	Q3 '24	Q2 '24
Revenue ?Total quarterly sales from primary business operations.	2.42B	2.22B	2.07B	2.01B	1.90B	1.82B	1.52B	1.27B	1.16B	—	1.42B	1.34B
Gross Profit ?Quarterly revenue minus cost of goods sold.	1.26B	1.15B	1.07B	1.01B	952.4M	917.4M	349.4M	587.6M	527.8M	—	551.2M	521.1M
Operating Income ?Quarterly profit from core operations before interest and taxes (EBIT).	339.4M	404.4M	357.8M	290.1M	270.6M	235.2M	-702.8M	-100.4M	-152.3M	—	-146.3M	-205.7M
Net Income ?Quarterly bottom-line profit after all expenses and taxes.	34.5M	396.1M	1.90B	194.8M	177.9M	200.2M	-676.3M	-193.3M	-215.6M	—	-164.3M	-207.5M
FCF ?Quarterly free cash flow: operating cash minus capital expenditures.	483.1M	259.4M	508.8M	414.1M	214.1M	444.1M	461.3M	258.2M	233.0M	—	448.6M	1.4M

Revenue & Free Cash Flow

Market Cap vs. DCF Fair Value Band

Shaded region = bear-to-bull DCF range. Line = actual market cap.

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Disclaimer: This analysis is for informational purposes only and does not constitute investment advice. Scores and valuations are derived from SEC filings and publicly available data. Always do your own research before making investment decisions.