Marvell Technology (MRVL) FY2024 results: revenue $5.5 billion, down 7.0% on the year
Marvell Technology, Inc. (MRVL) reported revenue of $5.5 billion for fiscal 2024, the year ended 3 February 2024, down 7.0% on the year before. Net income was -$933 million, and diluted earnings per share $-1.08. The figures are the company's own, from the 10-K it filed with the SEC on 13 March 2024.
Revenue
$5.5 billion
-7.0% on the year
FY2017FY2024
Operating margin
-10.3%
4.0% a year earlier
FY2017FY2024
Net income
-$933 million
FY2017FY2024
Diluted EPS
-$1.08
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,370
1,289
819
+6.3%
Capital expenditure
336
206
169
+63.1%
Free cash flow
1,034
1,083
650
-4.5%
Free cash flow margin
18.8%
18.3%
14.6%
Cash from investing
-350
-328
-3,745
Cash from financing
-980
-663
2,791
Depreciation and amortisation
1,246
305
266
+308.7%
Share-based compensation
610
552
461
+10.4%
Buybacks
150
115
0.0
+30.4%
Dividends paid
207
204
191
+1.2%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
861m
851m
797m
+1.2%
Shares outstanding at period end
866m
856m
847m
+1.1%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
14,831
15,637
15,702
-5.2%
Short-term borrowings
107
584
63.2
-81.6%
Debt
4,166
4,492
4,548
-7.3%
Operating lease liabilities
196
202
140
-2.8%
Other liabilities
1,928
1,607
1,655
+20.0%
Total liabilities and equity
21,228
22,522
22,109
-5.7%
Fixed assets
756
577
463
+30.9%
Goodwill
11,587
11,587
11,511
0.0%
Intangible assets
4,004
5,102
6,153
-21.5%
Cash and equivalents
951
911
614
+4.4%
Receivables
1,122
1,192
1,049
-5.9%
Inventory
864
1,068
720
-19.1%
Other assets
1,945
2,084
1,599
-6.7%
Total assets
21,228
22,522
22,109
-5.7%
10-K for the year ended 3 February 2024, filed 13 March 2024: the filing.