Marvell Technology (MRVL) FY2025 results: revenue $5.8 billion, up 4.7% on the year
Marvell Technology, Inc. (MRVL) reported revenue of $5.8 billion for fiscal 2025, the year ended 1 February 2025, up 4.7% on the year before. Net income was -$885 million, and diluted earnings per share $-1.02. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2025.
Revenue
$5.8 billion
+4.7% on the year
FY2018FY2025
Operating margin
-12.5%
-10.3% a year earlier
FY2018FY2025
Net income
-$885 million
FY2018FY2025
Diluted EPS
-$1.02
FY2018FY2025
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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
1,681
1,370
1,289
+22.7%
Capital expenditure
285
336
206
-15.4%
Free cash flow
1,397
1,034
1,083
+35.0%
Free cash flow margin
24.2%
18.8%
18.3%
Cash from investing
-301
-350
-328
Cash from financing
-1,383
-980
-663
Depreciation and amortisation
1,230
1,246
305
-1.3%
Share-based compensation
597
610
552
-2.0%
Buybacks
725
150
115
+383.3%
Dividends paid
208
207
204
+0.3%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
866m
861m
851m
+0.5%
Shares outstanding at period end
866m
866m
856m
+0.1%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
13,427
14,831
15,637
-9.5%
Short-term borrowings
130
107
584
+20.7%
Debt
4,064
4,166
4,492
-2.5%
Operating lease liabilities
231
196
202
+17.9%
Other liabilities
2,353
1,928
1,607
+22.1%
Total liabilities and equity
20,204
21,228
22,522
-4.8%
Fixed assets
790
756
577
+4.6%
Goodwill
11,587
11,587
11,587
0.0%
Intangible assets
2,711
4,004
5,102
-32.3%
Cash and equivalents
948
951
911
-0.3%
Receivables
1,028
1,122
1,192
-8.3%
Inventory
1,030
864
1,068
+19.1%
Other assets
2,110
1,945
2,084
+8.5%
Total assets
20,204
21,228
22,522
-4.8%
10-K for the year ended 1 February 2025, filed 12 March 2025: the filing.