Marvell Technology (MRVL) FY2019 results: revenue $2.9 billion, up 19.0% on the year
Marvell Technology, Inc. (MRVL) reported revenue of $2.9 billion for fiscal 2019, the year ended 2 February 2019, up 19.0% on the year before. Net income was -$179 million, and diluted earnings per share $-0.30. The figures are the company's own, from the 10-K it filed with the SEC on 28 March 2019.
Revenue
$2.9 billion
+19.0% on the year
FY2012FY2019
Operating margin
1.5%
17.8% a year earlier
FY2012FY2019
Net income
-$179 million
FY2012FY2019
Diluted EPS
-$0.30
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,866
2,409
2,301
+19.0%
Cost of revenue
1,407
947
1,018
+48.6%
Gross profit
1,458
1,462
1,283
-0.2%
Gross margin
50.9%
60.7%
55.8%
Research and development
914
714
805
+27.9%
Operating income
43.3
430
130
-89.9%
Operating margin
1.5%
17.8%
5.7%
Interest expense
60.4
0.7
0.4
+8,712.0%
Pre-tax income
-4.6
451
147
Income tax
174
18.1
72.6
+865.8%
Effective tax rate
n/a
4.0%
49.2%
Net income
-179
521
21.2
Net margin
-6.2%
21.6%
0.9%
Diluted EPS
-$0.30
$1.02
$0.04
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
597
571
-358
+4.5%
Capital expenditure
75.9
38.6
44.5
+96.9%
Free cash flow
521
533
-403
-2.2%
Free cash flow margin
18.2%
22.1%
-17.5%
Cash from investing
-1,753
39.5
162
Cash from financing
850
-536
-267
Depreciation and amortisation
124
83.5
108
+48.5%
Share-based compensation
184
86.7
114
+112.3%
Buybacks
104
528
182
-80.3%
Dividends paid
148
119
122
+24.2%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
591m
510m
518m
+16.0%
Shares outstanding at period end
659m
496m
506m
+32.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
7,306
4,141
4,028
+76.4%
Debt
1,733
0.0
n/a
Other liabilities
978
567
621
+72.5%
Total liabilities and equity
10,017
4,708
4,649
+112.7%
Fixed assets
319
202
243
+57.7%
Goodwill
5,495
1,993
1,997
+175.6%
Intangible assets
2,561
0.0
3.6
Investments
0.0
953
859
Cash and equivalents
582
888
814
-34.4%
Receivables
493
280
335
+75.9%
Inventory
276
170
171
+62.3%
Other assets
291
221
226
+31.7%
Total assets
10,017
4,708
4,649
+112.7%
10-K for the year ended 2 February 2019, filed 28 March 2019: the filing.