Marvell Technology (MRVL) FY2023 results: revenue $5.9 billion, up 32.7% on the year
Marvell Technology, Inc. (MRVL) reported revenue of $5.9 billion for fiscal 2023, the year ended 28 January 2023, up 32.7% on the year before. Net income was -$164 million, and diluted earnings per share $-0.19. The figures are the company's own, from the 10-K it filed with the SEC on 9 March 2023.
Revenue
$5.9 billion
+32.7% on the year
FY2016FY2023
Operating margin
4.0%
-7.8% a year earlier
FY2016FY2023
Net income
-$164 million
FY2016FY2023
Diluted EPS
-$0.19
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,289
819
817
+57.3%
Capital expenditure
206
169
107
+21.8%
Free cash flow
1,083
650
710
+66.5%
Free cash flow margin
18.3%
14.6%
23.9%
Cash from investing
-328
-3,745
-120
Cash from financing
-663
2,791
-597
Depreciation and amortisation
305
266
198
+14.7%
Share-based compensation
552
461
242
+19.9%
Buybacks
115
0.0
25.2
Dividends paid
204
191
161
+7.0%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
851m
797m
669m
+6.8%
Shares outstanding at period end
856m
847m
675m
+1.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
15,637
15,702
8,436
-0.4%
Short-term borrowings
584
63.2
200
+825.2%
Debt
4,492
4,548
1,193
-1.2%
Operating lease liabilities
202
140
104
+43.6%
Other liabilities
1,607
1,655
832
-2.9%
Total liabilities and equity
22,522
22,109
10,765
+1.9%
Fixed assets
577
463
326
+24.8%
Goodwill
11,587
11,511
5,337
+0.7%
Intangible assets
5,102
6,153
2,271
-17.1%
Cash and equivalents
911
614
748
+48.5%
Receivables
1,192
1,049
537
+13.7%
Inventory
1,068
720
268
+48.3%
Other assets
2,084
1,599
1,278
+30.4%
Total assets
22,522
22,109
10,765
+1.9%
10-K for the year ended 28 January 2023, filed 9 March 2023: the filing.