Marvell Technology (MRVL) Q4 FY2026 earnings: revenue $2.2 billion, up 22.1% on the year
Marvell Technology, Inc. (MRVL) reported revenue of $2.2 billion for Q4 FY2026, the quarter ended 31 January 2026, up 22.1% on the same quarter a year earlier. Net income was $396 million, up 97.9% on the year, and diluted earnings per share $0.46. The figures are the company's own, from the 10-K it filed with the SEC on 11 March 2026.
Revenue
$2.2 billion
+22.1% on the year · +7.0% on the quarter
Q1 FY2025Q4 FY2026
Operating margin
18.2%
12.9% a year earlier
Q1 FY2025Q4 FY2026
Net income
$396 million
+97.9% on the year · -79.2% on the quarter
Q1 FY2025Q4 FY2026
Diluted EPS
$0.46
+100.0% on the year · -79.1% on the quarter
Q1 FY2025Q4 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 10 new.
Q4 revenue above guidance midpoint: Net revenue was $2.219 billion, up 22% year over year and up 7% from the prior quarter. It was $19.0 million above the midpoint of guidance given December 2, 2025.
Fiscal 2026 revenue reached a record: Fiscal 2026 net revenue was $8.195 billion, a new record and up 42%. GAAP net income for the year was $2.670 billion, or $3.07 per diluted share.
Non-GAAP EPS up 81% for year: Management said fiscal 2026 non-GAAP EPS of $2.84 was up 81% year over year, which it attributed to operating leverage in the business model.
$ million except per share. Read moreFourth quarters are the year less the first three quarters. Free 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
Q4 FY2026
Q3 FY2026
Q4 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
374
582
514
-35.8%
-27.3%
Capital expenditure
114
73.5
69.9
+55.5%
+63.5%
Free cash flow
259
509
444
-49.0%
-41.6%
Free cash flow margin
11.7%
24.5%
24.4%
Cash from investing
-122
2,391
-70.3
Cash from financing
-327
-1,483
-364
Share-based compensation
143
152
148
-6.0%
-3.1%
Buybacks
200
1,300
200
-84.6%
+0.1%
Dividends paid
50.8
50.8
51.9
0.0%
-2.1%
Dividend per share
n/a
$0.06
n/a
Diluted shares, weighted
856m
864m
880m
-0.9%
-2.7%
Shares outstanding at period end
847m
848m
866m
-0.1%
-2.2%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q4 FY2026
Q3 FY2026
Q4 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
14,308
14,057
13,427
+1.8%
+6.6%
Short-term borrowings
500
500
130
+0.1%
+285.9%
Debt
4,471
4,469
4,064
+0.0%
+10.0%
Operating lease liabilities
263
255
231
+3.2%
+13.9%
Other liabilities
2,743
2,299
2,353
+19.3%
+16.6%
Total liabilities and equity
22,285
21,579
20,204
+3.3%
+10.3%
Fixed assets
935
855
790
+9.4%
+18.3%
Goodwill
11,062
11,062
11,587
0.0%
-4.5%
Intangible assets
1,755
1,978
2,711
-11.3%
-35.3%
Cash and equivalents
2,639
2,714
948
-2.8%
+178.3%
Receivables
2,187
1,546
1,028
+41.4%
+112.6%
Inventory
1,388
1,014
1,030
+36.8%
+34.8%
Other assets
2,320
2,408
2,110
-3.7%
+9.9%
Total assets
22,285
21,579
20,204
+3.3%
+10.3%
Questions
What was Marvell Technology's revenue in Q4 FY2026?
Marvell Technology (MRVL) reported revenue of $2.2 billion for Q4 FY2026, the quarter ended 31 January 2026, up 22.1% on the same quarter a year earlier.
How much did Marvell Technology earn in Q4 FY2026?
Net income for Q4 FY2026 was $396 million, up 97.9% on the year, and diluted earnings per share $0.46.
When did Marvell Technology report Q4 FY2026 results?
Marvell Technology filed its 10-K for the year that ended with the quarter on 11 March 2026; the fourth quarter is the year less the first three.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-K for the period ended 31 January 2026, filed 11 March 2026: the filing.