MACOM Technology Solutions Holdings, Inc. (MTSI) financials

NASDAQ · Technology · Semiconductors · 2,000 employees · CEO Stephen G. Daly

Price: $234.39 -7.14%
Market cap: $17.9B
Enterprise value: $18.2B
Last report: Q3 '26 filed 2026-08-06
Next report: 2026-11-05 EPS est. $2.00

Revenue (TTM)$1.16B+28.4% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)18.1%+4.4 pp vs a year agoOperating income $211M

Net income (TTM)$241M+444.6% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$119M-30.8% vs a year agoCapex $78M

Diluted EPS (TTM)$3.11+407.9% vs a year agoSum of the last 4 quarters

Net cash$292M+43.3% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $17.9B
Revenue: $1.16B
Revenue growth: +37%
Profit margin: 20.7%
P/E: 73.2×
P/S: 15.4×
EV / EBITDA: 50.9×
Free cash flow: $119M
Net income: $241M
Revenue estimate: $1.32B
Earnings: 2026-11-05
Dividend: –

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-08-06): revenue beat by 1.8%, EPS beat by 3.7%Revenue $342M vs $336M expected (+1.8%); EPS $1.40 vs $1.35 (+3.7%).
Revenue growth accelerating: 35.8% year on yearQ3 '26 revenue $342M, against an average of 27.4% over the four quarters before.
Operating margin 18.1% (TTM), +4.4 pp on a year agoOperating income grew 69.0% while revenue grew 28.4%.
26.3% of pre-tax profit is non-operatingPre-tax income $286M vs operating income $211M (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
Capex 6.7% of revenue (a year ago 6.2%)$78M invested in the last 4 quarters (+38.6% on a year earlier). Free cash flow $119M = 49.3% of net income.
Diluted share count up 3.4% in a year78.4M diluted shares in Q3 '26, 75.9M a year earlier.
Net cash $292MCash + short-term investments $663M, debt incl. leases $371M; a year ago net cash $204M.

Last quarter: Q3 '26

Quarter ended 2026-07-03. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q3 '26	Year ago	Change
Revenue	$342M	$252M	+35.8%
Gross margin	58.3%	53.7%	+4.6 pp
Operating income	$77.1M	$37.7M	+104.8%
Operating margin	22.5%	14.9%	+7.6 pp
Net income	$101M	$36.5M	+175.7%
Diluted EPS	$1.28	$0.48	+166.7%
Operating cash flow	$5.64M	$60.4M	-90.7%
Capex	$16.4M	$37.6M	-56.3%
Free cash flow	-$10.8M	$22.8M	-147.3%
R&D	$74.3M	$61.1M	+21.6%
Stock-based compensation	$21.1M	$17.3M	+21.9%

Reported vs consensus

2026-08-06

	Actual	Consensus	vs consensus
Revenue	$342M	$336M	+1.8%
EPS (as estimated)	$1.40	$1.35	+3.7%

From the report of 2026-08-06 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q3 '26	y/y	Share	TTM	TTM y/y	12 quarters
Reportable Segment	$342M	–	100.0%	–	–

Revenue by region

share of total

Segment	Q3 '26	y/y	Share	TTM	TTM y/y
China and Hong Kong	$134M	–	39.1%	–	–
United States	$121M	–	35.4%	–	–
Other Countries	$47.1M	–	13.8%	–	–
Asia Pacific, excluding China	$40.2M	–	11.8%	–	–

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q3 '26

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Reportable Segment	$342M	–	$77.1M	–	22.5%	–	–

Operating income by segment

quarterly

Segment operating margin

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $197M
Capex: -$78M
Buybacks: $80K
Dividends: $0
Acquisitions: $0
Net debt issued: -$192M
Stock-based compensation: $83.6M
Free cash flow: $119M
Returned to shareholders / FCF: -0.1%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	73.2×	73.6× 4 of 5 years	8.2× – 118.8×
EV / EBITDA	50.9×	76.5×	13.4× – 247.6×
EV / Sales	15.6×	9.0×	6.1× – 11.5×
Price / FCF	150.6×	43.5×	24.0× – 61.5×
Price / Book	11.6×	6.8×	4.3× – 9.5×
FCF yield	0.7%	2.6%	1.6% – 4.2%
Return on invested capital	8.9%	6.6%	4.3% – 9.0%
Return on equity	17.1%	14.5%	-4.1% – 52.2%

Analysts

Consensus target $401.25 (+71.2%)
range $300.00 – $475.00 · rating Buy

Strong buy0

Buy16

Hold7

Sell2

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	$1.32B	+36.9%	$5.51	+855.3%	42.5×	11
FY2027	$1.81B	+36.3%	$8.54	+54.8%	27.5×	11
FY2028	$2.09B	+15.9%	$10.11	+18.4%	23.2×	7
FY2029	$2.47B	+17.9%	$12.48	+23.5%	18.8×	1

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 250 figures MACOM Technology Solutions Holdings, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
Accounts Payable, Current	$72.8M	$60.6M	+20.1%	$67.6M	$43.2M	+56.4%
Accounts Receivable, after Allowance for Credit Loss, Current	$179M	$129M	+38.3%	$149M	$106M	+40.6%
Accounts Receivable, Allowance for Credit Loss	$886K2025-10-03	$2.66M	-66.7%	$886K	$2.66M	-66.7%
Accounts Receivable, Allowance for Credit Loss, Writeoff	–	–	–	$3.73M	$4.75M	-21.4%
Accounts Receivable, Credit Loss Expense (Reversal)	–	–	–	$1.95M	$5.4M	-63.8%
Accrued Liabilities, Current	$87.5M	$72.5M	+20.8%	$96M	$64.3M	+49.2%
Accrued Marketing Costs, Current	$8.2M2025-10-03	$7.49M	+9.4%	$8.2M	$7.49M	+9.4%
Accrued Professional Fees, Current	$1.04M2025-10-03	$1.34M	-22.0%	$1.04M	$1.34M	-22.0%
Accumulated Capitalized Interest Costs	$7.5M2025-10-03	$8.2M	-8.5%	$7.5M	$8.2M	-8.5%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$299M	$268M	+11.7%	$273M	$250M	+9.2%
Accumulated Other Comprehensive Income (Loss), Net of Tax	$1.07M	$3.81M	-72.0%	$5.03M	$2.51M	+101.0%
Additional Paid in Capital	$1.56B2025-10-03	$1.31B	+19.3%	$1.56B	$1.31B	+19.3%
Additional Paid in Capital, Common Stock	$1.58B	$1.54B	+2.5%	–	–	–
Amortization of Debt Issuance Costs	–	–	–	$1.45M	$1.15M	+26.4%
Amortization of Intangible Assets	$6.16M	$7.37M	-16.5%	$31.8M	$37.2M	-14.6%
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$21.1M	$17.3M	+21.9%	$79.4M	$45.6M	+73.9%
Asset Retirement Obligation	$1.9M2025-10-03	$1.9M	0.0%	$1.9M	$1.9M	0.0%
Assets	$2.15B	$2B	+7.2%	$2.1B	$1.76B	+19.8%
Assets, Current	$1.17B	$1.13B	+4.0%	$1.21B	$903M	+33.4%
Assets, Fair Value Disclosure	$699M	–	–	–	–	–
Capital Expenditures Incurred but Not yet Paid	$1.26M	-$2.39M	+152.6%	$2.22M	$311K	+614.5%
Cash and Cash Equivalents, at Carrying Value	$89.6M	$125M	-28.6%	$112M	$147M	-23.6%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$89.6M	$125M	-28.6%	$112M	$147M	-23.6%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$8.92M	$14.5M	-161.3%	-$34.7M	-$27.1M	-27.7%
Common Stock, Capital Shares Reserved for Future Issuance	3.2M2025-10-03	3.9M	-17.9%	3.2M	3.9M	-17.9%
Common Stock, Par or Stated Value Per Share	$0.00	$0.00	0.0%	$0.00	$0.00	0.0%
Common Stock, Shares Authorized	300M	300M	0.0%	300M	300M	0.0%
Common Stock, Shares, Issued	74.5M2025-10-03	72.2M	+3.2%	74.5M	72.2M	+3.2%
Common Stock, Shares, Outstanding	74.5M2025-10-03	72.2M	+3.2%	74.5M	72.2M	+3.2%
Common Stock, Value, Issued	$76K	$74K	+2.7%	$74K	$72K	+2.8%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$99.7M	$39.5M	+152.6%	-$51.7M	$83M	-162.3%
Contract with Customer, Liability	$3.94M	$5.25M	-24.9%	$7.7M	$5.3M	+45.3%
Contract with Customer, Liability, Revenue Recognized	$700K	$300K	+133.3%	$2.3M	$2.5M	-8.0%
Convertible Notes Payable	15,000,000 GBP2026-05-28	–	–	–	–	–
Convertible Notes Payable	$20.2M2026-05-28	–	–	–	–	–
Cost of Goods and Services Sold	$143M	$113M	+26.7%	$438M	$336M	+30.5%
Current Federal Tax Expense (Benefit)	–	–	–	$15.4M	$4.53M	+239.3%
Current Foreign Tax Expense (Benefit)	–	–	–	$4.52M	$3.71M	+21.9%
Current Income Tax Expense (Benefit)	–	–	–	$20.7M	$9.83M	+110.5%
Current State and Local Tax Expense (Benefit)	–	–	–	$794K	$1.59M	-50.0%
Debt and Equity Securities, Unrealized Gain (Loss)	$41.5M	$0	–	–	–	–
Debt Conversion, Converted Instrument, Amount	$0	$0	–	–	–	–
Debt Instrument, Unamortized Discount	$3.85M	$5.27M	-27.0%	$4.89M	$1.72M	+184.5%
Debt Issuance Costs, Net	–	–	–	$6.9M2023-09-29	$3.7M	+86.5%
Debt Securities, Available-for-sale	$573M	$610M	-6.0%	$674M	$435M	+54.9%
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	$396K	$1.42M	-72.1%	$3.38M	$2.44M	+38.4%
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	$1.53M	$370K	+313.5%	$87K	$210K	-58.6%
Debt Securities, Available-for-sale, Amortized Cost	$575M	$609M	-5.6%	$671M	$433M	+54.9%
Debt Securities, Available-for-sale, Current	$153M	$193M	-20.9%	–	–	–
Debt Securities, Available-for-sale, Noncurrent	$421M	$417M	+0.9%	–	–	–
Deferred Federal Income Tax Expense (Benefit)	–	–	–	-$334K	$11.2M	-103.0%
Deferred Foreign Income Tax Expense (Benefit)	–	–	–	-$1.6M	-$1.29M	-23.9%
Deferred Income Tax Assets, Net	$182M	$211M	-13.9%	$208M	$212M	-2.1%
Deferred Income Tax Expense (Benefit)	–	–	–	$4.5M	$4.84M	-7.1%
Deferred Revenue	$3.94M	–	–	$7.68M	$5.28M	+45.4%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	-$3.7M	-$1.42M	-161.0%
Deferred Tax Assets, Equity Method Investments	$566K2025-10-03	$576K	-1.7%	$566K	$576K	-1.7%
Deferred Tax Assets, Goodwill and Intangible Assets	$25.8M2025-10-03	$27M	-4.7%	$25.8M	$27M	-4.7%
Deferred Tax Assets, Gross	$255M2025-10-03	$249M	+2.8%	$255M	$249M	+2.8%
Deferred Tax Assets, Net	$208M2025-10-03	$212M	-2.1%	$208M	$212M	-2.1%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-07-03, 10-Q 2026-04-03, 10-Q 2026-01-02, 10-K 2025-10-03, 10-Q 2025-07-04, 10-Q 2025-04-04, 10-Q 2025-01-03, 10-K 2024-09-27, 10-Q 2024-06-28

Data as of 2026-11-02