Marvell Technology (MRVL) FY2026 10-K Annual Report
Marvell Technology (MRVL) 10-K annual report for fiscal year 2026, filed with SEC EDGAR on Mar 11, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Marvell Technology FY2026 10-K Analysis
Business Overview
- • Fabless data infrastructure semiconductor supplier; custom ASICs and interconnects for AI data centers as primary growth driver
- • Divested automotive ethernet business to Infineon for $2.5B cash (recorded $1.8B pre-tax gain); acquired Celestial AI (~$1.3B cash + ~24.5M shares) for photonic interconnects and XConn ($280M cash) for PCIe/CXL switching
Management Discussion & Analysis
- • Revenue $8.2B in FY2026, up 42% YoY (+$2.4B); data center +46%, communications +31%
- • Gross margin 51.0% vs 41.3%; operating margin 16.1% vs -12.5% prior year
Risk Factors
- • BIS export controls expanded Oct 2022–Jan 2025 (EAR rules, Entity List additions); proposed 25% tariff on chip exports and potential 15% revenue-sharing on China sales could erode margins
- • Top 10 customers = 82% of FY2026 revenue; data center end market heavily concentrated, with two customers each exceeding 10% of net revenue
Marvell Technology FY2026 Key Financial MetricsXBRL
Revenue
$8.2B
▲ +42.1% YoY
Net Income
$2.7B
▲ +401.7% YoY
Gross Margin
51.0%
▲ +971bp YoY
Operating Margin
16.1%
▲ +2863bp YoY
Net Margin
32.6%
▲ +4793bp YoY
ROE
18.7%
▲ +2525bp YoY
Total Assets
$22.3B
▲ +10.3% YoY
EPS (Diluted)
$3.07
▲ +401.0% YoY
Operating Cash Flow
$1.8B
▲ +4.1% YoY
Source: XBRL data from Marvell Technology FY2026 10-K filing on SEC EDGAR. All figures in USD.
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