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Held by 2,168 of 6,047 reporting institutions (100th percentile) — extremely crowded.
Data as of Q2 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 19 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVDA | $5.52T | 46.6× | 41.4× | 25.6× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | -0.0× | 5,775 |
| AVGO | $1.71T | 74.9× | 67.3× | 26.7× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 1.9× | 4,645 |
| MU | $1.08T | 125.6× | 59.6× | 28.9× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.1× | 3,808 |
| AMD | $988.5B | 228.5× | — | 28.5× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | -0.6× | 3,909 |
| INTC | $540.2B | — | 67.0× | 10.2× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 3.8× | 3,481 |
| AMAT | $368.4B | 53.6× | 42.4× | 13.0× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | -0.1× | 3,408 |
| ARM | $272.8B | 300.5× | — | 55.4× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | -2.4× | 957 |
| TXN | $262.9B | 52.8× | 34.5× | 14.9× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.4× | 2,767 |
| MRVL | $241.5B | 87.5× | 157.5× | 29.5× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 1.2× | 2,168 |
| ADI | $200.9B | 90.9× | 62.0× | 18.2× | 16.9% | 61.5% | 20.6% | 6.7% | 5.3% | 1.8× | 2,212 |
| MPWR | $64.8B | 102.6× | 81.6× | 23.2× | 26.4% | 55.2% | 22.3% | 17.6% | 17.6% | -1.4× | 1,194 |
| NXPI | $57.1B | 28.5× | 17.0× | 4.7× | -2.7% | 54.7% | 16.5% | 20.1% | 9.1% | 2.3× | 1,210 |
| ALAB | $56.5B | 266.7× | — | 66.2× | 115% | 75.7% | 25.7% | 16.1% | 16.1% | — | 965 |
| STM | $44.4B | 275.4× | 22.7× | 3.8× | -11.1% | 33.9% | 1.4% | 0.9% | 0.8% | -0.4× | 594 |
| MCHP | $40.3B | 337.1× | 38.6× | 8.5× | 7.1% | 57.7% | 4.9% | 3.6% | 1.9% | 4.5× | 1,254 |
| CRDO | $37.3B | 79.0× | 75.3× | 27.9× | 206% | 68.0% | 35.4% | 22.9% | 22.9% | -2.4× | 945 |
| ON | $29.9B | 264.4× | 39.9× | 5.0× | -15.3% | 33.1% | 2.0% | 1.6% | 1.1% | 1.1× | 969 |
| Q | $25.7B | 37.2× | 21.8× | 5.4× | 9.7% | 46.2% | 15.3% | 10.3% | 6.5% | 2.4× | 1,273 |
| TSEM | $25.1B | 114.5× | 50.4× | 16.0× | 9.1% | 23.2% | 14.1% | 7.6% | 7.2% | -0.1× | 424 |
| MTSI | $23.6B | — | 124.2× | 24.4× | 32.6% | 54.7% | -5.6% | -4.1% | -3.0% | 2.0× | 620 |
Peers = companies sharing MRVL's sector (Semiconductors & Related Devices) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Solve the discounted cash flow backwards, then stress-test the assumptions.
The same 3 years as the 3-yr average, with the stock compensation of those years charged as a cost. Shares issued to employees are real dilution, so this asks what the business generates for existing holders.
To be worth $245.28 today, the market must believe free cash flow compounds 57.0%/yr for a decade (off $676.4M on the SBC-adjusted basis).
On the basis ($1.28B) the requirement is 46.6%/yr. The difference is what charging stock compensation costs.
The market's 57.0% is more conservative than its 6-yr track record.
Default is 13.5% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.90B shares (market data) · net debt $1.83B
mean 231.0% · volatility σ 481% · implied rate exceeded in 3/6 yrs
Central path = implied 57.0%/yr growth; shaded band = ±1σ (481%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 15% of free cash flow, leaving room to grow it and fund buybacks. Last year: $205.1M dividends + $2.04B buybacks = $2.25B returned on $1.40B FCF.
2 consecutive years of dividend increases · 0%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 7 years — and what it earned on reinvestment.
A balanced mix of reinvestment and shareholder returns.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 14%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 7 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-14
How a revenue dollar becomes profit — FY2026
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2021 |
|---|---|---|---|---|---|---|---|
| Revenue | $8.19B 100.0% | $5.77B 100.0% | $5.51B 100.0% | $5.92B 100.0% | $4.46B 100.0% | $2.97B 100.0% | $2.70B 100.0% |
| Cost of Revenue | $4.01B 49.0% | $3.39B 58.7% | $3.21B 58.4% | $2.93B 49.5% | $2.40B 53.7% | $1.48B 49.9% | $1.34B 49.7% |
| Gross Profit | $4.18B 51.0% | $2.38B 41.3% | $2.29B 41.6% | $2.99B 50.5% | $2.06B 46.3% | $1.49B 50.1% | $1.36B 50.3% |
| Research & Development | $2.08B 25.3% | $1.95B 33.8% | $1.90B 34.4% | $1.78B 30.1% | $1.42B 31.9% | $1.07B 36.1% | $1.08B 40.0% |
| Selling, General & Admin | $767.1M 9.4% | $798.2M 13.8% | $834.0M 15.1% | $843.6M 14.3% | $955.3M 21.4% | $467.2M 15.7% | $464.6M 17.2% |
| Total Operating Expenses | $2.86B 34.9% | $3.10B 53.8% | $2.86B 52.0% | $2.75B 46.4% | $2.41B 54.0% | $1.75B 58.8% | $1.60B 59.3% |
| Operating Income | $1.32B 16.1% | -$720.3M -12.5% | -$567.7M -10.3% | $238.0M 4.0% | -$347.7M -7.8% | -$258.4M -8.7% | -$243.4M -9.0% |
| Interest Expense | $202.6M 2.5% | $189.4M 3.3% | $211.7M 3.8% | $170.6M 2.9% | $139.3M 3.1% | $69.3M 2.3% | $85.6M 3.2% |
| Other Income (Expense), net | $1.72B 21.0% | -$174.4M -3.0% | -$191.0M -3.5% | -$152.9M -2.6% | -$135.8M -3.0% | -$63.8M -2.1% | $1.04B 38.6% |
| Pretax Income | $3.05B 37.2% | -$894.7M -15.5% | -$758.7M -13.8% | $85.1M 1.4% | -$483.5M -10.8% | -$322.2M -10.9% | $798.4M 29.6% |
| Income Tax Expense | $376.5M 4.6% | -$9.7M -0.2% | $174.7M 3.2% | $248.6M 4.2% | -$62.5M -1.4% | -$44.9M -1.5% | -$786.0M -29.1% |
| Net Income | $2.67B 32.6% | -$885.0M -15.3% | -$933.4M -16.9% | -$163.5M -2.8% | -$421.0M -9.4% | -$277.3M -9.3% | $1.58B 58.7% |
| Per Share | |||||||
| EPS (Basic) | $3.10 | -$1.02 | -$1.08 | -$0.19 | -$0.53 | -$0.41 | $2.38 |
| EPS (Diluted) | $3.07 | -$1.02 | -$1.08 | -$0.19 | -$0.53 | -$0.41 | $2.34 |
| Weighted Avg Shares (Basic) | 861.0M | 865.5M | 861.3M | 851.4M | 796.9M | 668.8M | 664.7M |
| Weighted Avg Shares (Diluted) | 869.7M | 865.5M | 861.3M | 851.4M | 796.9M | 668.8M | 676.1M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $2.64B (at 2026-01-31) covers all $2.25B of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2026-08-01 (10-Q). The cash figure is from 2026-01-31, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~4.5% on $4.47B of debt.
Cash of $2.64B fully covers short-term debt of $499.8M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-14
Earns -8.32pts against its cost of capital — capital is being consumed, not created.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2021 | 50.3% | -9.0% | 58.7% |
| FY2021 | 50.1% | -8.7% | -9.3% |
| FY2022 | 46.3% | -7.8% | -9.4% |
| FY2023 | 50.5% | 4.0% | -2.8% |
| FY2025 | 41.6% | -10.3% | -16.9% |
| FY2026 | 41.3% | -12.5% | -15.3% |
| FY2026 | 51.0% | 16.1% | 32.6% |
ROIC ex-goodwill is 22.55% against 5.15% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
ROE 19% against ROIC 14% — 4% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2021 | FY2021 | FY2022 | FY2023 | FY2025 | FY2026 | FY2026 |
|---|---|---|---|---|---|---|---|
| Cost of Revenue | 49.7 | 49.9 | 53.7 | 49.5 | 58.4 | 58.7 | 49.0 |
| Gross Profit | 50.3 | 50.1 | 46.3 | 50.5 | 41.6 | 41.3 | 51.0 |
| R&D | 40.0 | 36.1 | 31.9 | 30.1 | 34.4 | 33.8 | 25.3 |
| SG&A | 17.2 | 15.7 | 21.4 | 14.3 | 15.1 | 13.8 | 9.4 |
| Operating Income | -9.0 | -8.7 | -7.8 | 4.0 | -10.3 | -12.5 | 16.1 |
| Income Tax | -29.1 | -1.5 | -1.4 | 4.2 | 3.2 | -0.2 | 4.6 |
| Net Income | 58.7 | -9.3 | -9.4 | -2.8 | -16.9 | -15.3 | 32.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MRVL: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Leverage and buybacks account for 4 points of the 19% return on equity in FY2026. The business earns 14% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$13.9B of goodwill — 77% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer. With goodwill over half the base, the ex-goodwill figure divides by a small remainder and moves sharply — read it as a direction, not a precise rate.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2021 | -2.0% | 13.5% (today's — no rate published for this year) | -15.4pts |
| FY2021 | -2.0% | 13.5% (today's — no rate published for this year) | -15.5pts |
| FY2022 | -1.2% | 7.7% | -8.9pts |
| FY2023 | 0.8% | 10.5% | -9.7pts |
| FY2025 | -2.2% | 11.7% | -13.8pts |
| FY2026 | -3.0% | 14.1% | -17.1pts |
| FY2026 | 5.6% | 14.1% | -8.6pts |
| Now | 14.2% | 13.5% | 0.7pts |
Fewer than three profitable years with a cash flow statement, so cash conversion cannot be judged.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Missing from our data, so excluded from this answer: 3 years of cash flow.
Covers interest 4.9x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 7.06x |
| 5% | 6.71x |
| 10% | 6.36x |
| 15% | 6.00x |
| 20% | 5.65x |
| 25% | 5.30x |
| 30% | 4.94x |
| 35% | 4.59x |
| 40% | 4.24x |
| 45% | 3.88x |
| 50% | 3.53x |
| 55% | 3.18x |
| 60% | 2.83x |
Ladder as of 2026-08-01 (10-Q); cash from the 2026-01-31 balance sheet; FCF from FY2026.
Balance sheet at 2026-01-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
The maturity schedule is not part of this verdict — its filing anchor is often older than the balance sheet it sits beside, so a wall inside 24 months may not be visible here.
At $268.73, free cash flow must compound 58.5%/yr for 10 years. It has done 67.74%/yr over 6 years after stock compensation.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | 1196.7% | 58.5% |
| FY2022 | −59.6% | 58.5% |
| FY2023 | 179.9% | 58.5% |
| FY2025 | −20.0% | 58.5% |
| FY2026 | 88.3% | 58.5% |
| FY2026 | 0.8% | 58.5% |
This is solved on free cash flow AFTER stock compensation ($676M against $1.28B before it). On the unadjusted figure the requirement would be 48.09%/yr. Which is right depends on whether you think the share issuance is a recurring cost of running the business.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.