A forensic read on Marvell Technology, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
3.4
Distress distance
Watch
Earnings quality
3
Forensic signals
19.3%
ROE
42.1%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Marvell Technology, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 3.4, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
6.8%
FY2026
Return on invested capital.Return on invested capital is 6.8% in the latest fiscal year and rising across FY2024–FY2026 from -2.4%. After-tax operating profit was ($448M) in FY2024 and $1.2B in FY2026, with operating income at -10.3% of revenue in FY2024, -12.5% in FY2025 and 16.1% in FY2026. The capital base behind it went from $18.6B in FY2024 to $17.1B in FY2026 (-8%), while the revenue it carried went from $5.5B to $8.2B. FY2024's operating profit carried a $131M restructuring charge that alone took about 0.6 points off that year's return, so about 0.6 of the 9.2-point rise across FY2024–FY2026 is that charge leaving the base year rather than the capital earning more. FY2025's operating profit carried a $185M restructuring charge that alone took about 0.8 points off that year's return; FY2025 sits between the two ends of FY2024–FY2026, so the charge shapes the path between them without moving the change across it.
161% of FCF
FY2026
Shareholder returns.Returned $2.2B to shareholders (buybacks + dividends) in FY2026 — 161% of free cash flow. That is $849M (61%) more than free cash flow covered, and more than operating cash flow as well. Total debt rose $407M over FY2026, while cash rose $1.7B, so the borrowing was kept, not spent on the gap. The FY2026 cash-flow statement filed $1.2B of debt issued against $791M repaid; $27M from sales of property and equipment; net cash provided by investing activities of $2.1B; net cash used in financing activities of $2.2B. A payout past free cash flow draws the balance sheet down in every year it continues, which isn't sustainable indefinitely. Counting the $591M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 203%.
110d
FY2025→FY2026
Inventory days.Days inventory outstanding moved from 102 to 110 FY2025→FY2026 (against cost of goods sold; inventory +35% vs +19% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
Key fundamentals
Latest Revenue$8.19B
Revenue Growth YoY+42.1%
Revenue CAGR (2yr)+22.0%
Net Margin32.6%
Free Cash Flow$1.40B
Return on Equity19.3%
Debt / Equity0.31x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Marvell Technology, Inc.'s actual 10-K/10-Q/8-K filings?