Marvell Technology (MRVL) FY2015 results: revenue $3.6 billion, up 6.8% on the year
Marvell Technology, Inc. (MRVL) reported revenue of $3.6 billion for fiscal 2015, the year ended 31 January 2015, up 6.8% on the year before. Net income was $435 million, up 38.1%, and diluted earnings per share $0.84. The figures are the company's own, from the 10-K it filed with the SEC on 26 March 2015.
Revenue
$3.6 billion
+6.8% on the year
FY2008FY2015
Operating margin
12.5%
8.2% a year earlier
FY2008FY2015
Net income
$435 million
+38.1% on the year
FY2008FY2015
Diluted EPS
$0.84
+33.3% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
3,637
3,404
3,169
+6.8%
Cost of revenue
1,799
1,664
1,493
+8.2%
Gross profit
1,838
1,741
1,675
+5.6%
Gross margin
50.5%
51.1%
52.9%
Research and development
1,092
1,154
1,057
-5.4%
Operating income
456
281
295
+62.6%
Operating margin
12.5%
8.2%
9.3%
Interest expense
1.2
1.9
0.6
-37.8%
Pre-tax income
480
306
310
+56.6%
Income tax
-4.1
-9.1
3.6
Effective tax rate
-0.8%
-3.0%
1.2%
Net income
435
315
307
+38.1%
Net margin
12.0%
9.3%
9.7%
Diluted EPS
$0.84
$0.63
$0.54
+33.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
n/a
448
729
Capital expenditure
63.0
66.6
68.2
-5.4%
Free cash flow
n/a
381
661
Free cash flow margin
n/a
11.2%
20.9%
Cash from investing
n/a
74.8
179
Cash from financing
n/a
-309
-941
Depreciation and amortisation
106
103
91.0
+3.4%
Share-based compensation
137
156
127
-12.0%
Buybacks
65.0
376
937
-82.7%
Dividends paid
123
119
98.8
+2.8%
Dividend per share
$0.24
$0.24
$0.18
0.0%
Diluted shares, weighted
521m
504m
563m
+3.2%
Shares outstanding at period end
515m
502m
508m
+2.5%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
5,146
4,676
4,485
+10.1%
Other liabilities
738
775
777
-4.7%
Total liabilities and equity
5,884
5,451
5,262
+8.0%
Fixed assets
341
356
373
-4.4%
Goodwill
2,030
2,030
2,032
0.0%
Intangible assets
30.7
49.0
89.7
-37.4%
Investments
1,329
1,020
1,184
+30.3%
Cash and equivalents
1,211
966
752
+25.4%
Receivables
421
453
330
-7.2%
Inventory
308
348
250
-11.4%
Other assets
214
229
251
-6.4%
Total assets
5,884
5,451
5,262
+8.0%
10-K for the year ended 31 January 2015, filed 26 March 2015: the filing.