Forensic Analysis · Semiconductors · as of Aug 11, 2026
Macom Technology Solutions Holdings, Inc. (MTSI)
A forensic read on Macom Technology Solutions Holdings, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
15.4
Distress distance
Clean
Earnings quality
3
Forensic signals
126.2
P / E (ttm)
-4.1%
ROE
$23.2B
Market cap
32.6%
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.
Macom Technology Solutions Holdings, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 15.4, 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
5.6%
FY2025
Return on invested capital.Return on invested capital is 5.6% in the latest fiscal year and slipping from 9% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+1.3%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +4% over the last 3 years to FY2025 (+1.3%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~1.3% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~4%.
+18.3%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +18.3% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +41% against revenue +33% and inventory up +22% against +31% in cost of sales. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 18% of net operating assets, diverging from the balance-sheet accrual read.
Key fundamentals
Latest Revenue$967.3M
Revenue Growth YoY+32.6%
Revenue CAGR (3yr)+12.7%
Net Margin-5.6%
Free Cash Flow$192.8M
Return on Equity-4.1%
Debt / Equity0.38x
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 Macom Technology Solutions Holdings, Inc.'s actual 10-K/10-Q/8-K filings?