Forensic Analysis · Semiconductors · as of Aug 7, 2026

Marvell Technology, Inc. (MRVL)

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

14.2

Distress distance

Watch

Earnings quality

Forensic signals

76.6

P / E (ttm)

18.7%

ROE

$186.6B

Market cap

0.11%

Dividend yield

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 (red flags, auditor quality, say on pay, board independence). 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 14.2, placing it in the Safe zone. 4 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 from 1% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.

161% of FCF

FY2026

Shareholder returns. Returned $2.2B to shareholders (buybacks + dividends) in FY2026 — 161% of free cash flow. More than free cash flow generated — and beyond operating cash too, so the extra is coming from debt or cash reserves, 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.

+0.7%/yr

FY2023–FY2026

Share count. Diluted share count changed +2% over the last 3 years to FY2026 (+0.7%/yr). Roughly flat — buybacks ($2.0B) are about offsetting stock comp ($591M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

Key fundamentals

Latest Revenue$8.19B

Revenue Growth YoY+42.1%

Revenue CAGR (3yr)+11.4%

Net Margin32.6%

Free Cash Flow$1.40B

Return on Equity18.7%

Debt / Equity0.31x

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Data from SEC EDGAR public filings · metrics as of Aug 7, 2026. Forensic signals flag probability, not certainty.