Marvell Technology, Inc. (MRVL)财务
NASDAQ · Technology · Semiconductors · 员工7,480人 · CEO Matthew J. Murphy
- 股价
- $196.40 -10.05%
- 市值
- $1720亿
- 企业价值
- $1730亿
- 最近财报
- Q2 '27 2026-08-28提交
- 下次财报
- 2026-12-01 EPS预期 $1.10
营收(TTM)$94.5亿+30.6% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)16.7%+15.4 百分点 对比去年同期营业利润 $15.8亿
净利润(TTM)$26.4亿+2,653.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$17.3亿+13.1% 对比去年同期资本支出 $4.7亿
稀释EPS(TTM)$3.02+2,422.0% 对比去年同期最近4个季度之和
净现金-$13.5亿+61.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1720亿 EV $1730亿
- 营收
- $94.5亿 过去12个月
- 营收增速
- +47% FY2027年一致预期
- 净利润率
- 27.9% 净利润 / 营收,TTM
- P/E
- 64.4× 预期 46.6×(FY2027)
- P/S
- 18.2× 股价 / 营收,TTM
- EV / EBITDA
- 36.4× TTM
- 自由现金流
- $17.3亿 过去12个月
- 净利润
- $26.4亿 过去12个月
- 营收预期
- $121亿 FY2027年一致预期
- 盈利
- 2026-12-01 营收预期 $31.5亿
- 股息
- $0.24 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-27):营收超预期0.7%,EPS 超预期0.6%营收$27.4亿,预期$27.2亿(+0.7%);EPS $0.94,预期$0.93(+0.6%)。
- 营收增长平稳:同比36.5%Q2 '27营收$27.4亿,此前四个季度的平均值为36.0%。
- 营业利润率16.7%(TTM),较去年同期+15.4 百分点营收增长30.6%,营业利润增长1,595.7%。
- 税前利润的48.4%来自营业外收益税前利润$30.6亿,营业利润$15.8亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的5.0%(去年为4.3%)最近4个季度投入$4.7亿(同比+49.4%)。自由现金流$17.3亿,相当于净利润的65.5%。
- 股东回报$21.1亿 = 自由现金流的121.9%回购$19亿(去年为$9.4亿),股息$2.09亿,股权激励$8.29亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内增加5.8%Q2 '27稀释股数9.21亿,一年前为8.7亿。
- 净债务 $13.5亿现金 + 短期投资 $39.3亿,含租赁债务 $52.9亿;一年前净债务 $35.5亿。
上一季度:Q2 '27
截至2026-08-01的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '27 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $27.4亿 | $20.1亿 | +36.5% |
| 毛利率 | 53.1% | 50.4% | +2.8 百分点 |
| 营业利润 | $4.57亿 | $2.9亿 | +57.5% |
| 营业利润率 | 16.7% | 14.5% | +2.2 百分点 |
| 净利润 | $3.08亿 | $1.95亿 | +58.1% |
| 稀释EPS | $0.33 | $0.22 | +50.0% |
| 经营现金流 | $6.06亿 | $4.62亿 | +31.2% |
| 资本支出 | $1.27亿 | $4860万 | +160.7% |
| 自由现金流 | $4.79亿 | $4.13亿 | +15.9% |
| R&D | $7.41亿 | $5.19亿 | +42.8% |
| 股权激励费用 | $3.26亿 | $1.54亿 | +112.4% |
实际 vs 一致预期
2026-08-27| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $27.4亿 | $27.2亿 | +0.7% |
| EPS(一致预期口径) | $0.94 | $0.93 | +0.6% |
来自2026-08-27发布的Q2 '27财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Data Center | $21.7亿 | +45.7% | 100.0% | – | – | |
| Data center | – | – | – | – | – | |
| Communications and other | – | – | – | – | – | |
| Carrier Infrastructure | – | – | – | – | – | |
| Enterprise Networking | – | – | – | – | – | |
| Consumer | – | – | – | – | – | |
| Automotive And Industrial | – | – | – | – | – |
按地区划分的营收
占总额比例| 分部 | Q2 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Other Countries | $5.93亿 | +273.6% | 21.6% | $33.6亿 | +403.4% | |
| CHINA | $11.6亿 | +99.1% | 42.4% | $39亿 | +45.2% | |
| TAIWAN | $4.57亿 | -15.6% | 16.7% | $17.7亿 | +30.9% | |
| SINGAPORE | $3.37亿 | +138.4% | 12.3% | – | – | |
| United States | $1.91亿 | -38.6% | 7.0% | $9.19亿 | -20.3% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $22亿
- 资本支出
- -$4.7亿
- 股票回购
- -$19亿
- 股息
- -$2.09亿
- 收购
- -$12.7亿
- 债务净发行
- $5.54亿
- 股权激励费用
- $8.29亿
- 自由现金流
- $17.3亿
- 股东回报 / FCF
- 121.9%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 64.4× | 25.5× 5年中的1年 | 25.5× – 25.5× |
| EV / EBITDA | 36.4× | 67.1× | 15.4× – 155.1× |
| EV / 营收 | 18.3× | 11.6× | 6.9× – 17.5× |
| 股价 / FCF | 99.4× | 60.1× | 34.3× – 90.0× |
| 股价 / 净资产 | 9.5× | 4.4× | 2.3× – 7.3× |
| FCF收益率 | 1.0% | 1.9% | 1.1% – 2.9% |
| 投入资本回报率 | 5.4% | -0.9% | -3.9% – 6.0% |
| 净资产收益率 | 16.2% | 0.4% | -6.6% – 18.7% |
分析师
一致目标价 $329.93 (+68.0%)
区间 $190.00 – $450.00 · 评级 Buy
强烈买入0
买入62
持有11
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $121亿 | +47.2% | $4.21 | +37.3% | 46.6× | 27 |
| FY2028 | $196亿 | +62.0% | $7.28 | +72.7% | 27.0× | 27 |
| FY2029 | $314亿 | +60.5% | $12.38 | +70.1% | 15.9× | 20 |
| FY2030 | $481亿 | +53.4% | $18.47 | +49.1% | 10.6× | 9 |
| FY2031 | $750亿 | +55.7% | $28.26 | +53.0% | 6.9× | 10 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Marvell Technology, Inc.在近期10-Q / 10-K文件中标记的全部289项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $91.842026-03-31 | – | – | – | – | – | |
| 2180万2026-03-31 | – | – | – | – | – | |
| Accelerated Share Repurchases, Settlement (Payment) or Receipt | -$10亿2025-09-24 | – | – | – | – | – |
| Accounts Payable, Current | $7.98亿 | $6.11亿 | +30.7% | $10.7亿 | $6.22亿 | +72.6% |
| Accounts Receivable, after Allowance for Credit Loss | $21.9亿2026-01-31 | $10.3亿 | +112.6% | $21.9亿 | $10.3亿 | +112.6% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $22.2亿 | $14.5亿 | +52.8% | $21.9亿 | $10.3亿 | +112.6% |
| Accounts Receivable, Allowance for Credit Loss | $450万2026-01-31 | $260万 | +73.1% | $450万 | $260万 | +73.1% |
| Accounts Receivable, before Allowance for Credit Loss | $21.9亿2026-01-31 | $10.3亿 | +112.5% | $21.9亿 | $10.3亿 | +112.5% |
| Accounts Receivable, Sale | $1.11亿 | $2.37亿 | -53.2% | $7.36亿 | $8.69亿 | -15.3% |
| Accrued Income Taxes, Current | $1.64亿 | $9120万 | +79.5% | $2.28亿 | $5560万 | +310.6% |
| Accrued Income Taxes, Noncurrent | $8570万 | $7950万 | +7.8% | $1.17亿 | $7340万 | +59.9% |
| Accrued Liabilities, Current | $14.3亿 | $10.8亿 | +32.2% | $13.4亿 | $9.73亿 | +37.5% |
| Accrued Professional Fees, Current | $1570万2025-11-01 | $110万 | +1,327.3% | $1170万2025-02-01 | $7650万 | -84.7% |
| Accrued Royalties, Current | $2870万2026-05-02 | $1910万 | +50.3% | $2510万 | $1170万 | +114.5% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $15.3亿 | $13.1亿 | +16.5% | $14.1亿 | $12.5亿 | +12.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $02026-01-31 | $40万 | -100.0% | $0 | $40万 | -100.0% |
| Additional Paid in Capital, Common Stock | $169亿 | $143亿 | +18.8% | $130亿 | $145亿 | -10.9% |
| Adjustments to Additional Paid in Capital, Warrant Issued | $1130万 | $1230万 | -8.1% | $3900万 | $540万 | +622.2% |
| Amortization of Intangible Assets | $2.15亿 | $2.44亿 | -11.8% | $9.42亿 | $10.5亿 | -10.5% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 40万 | 450万 | -91.1% | – | – | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $3.34亿 | $1.53亿 | +118.3% | $5.94亿 | $5.96亿 | -0.3% |
| Assets | $276亿 | $206亿 | +33.8% | $223亿 | $202亿 | +10.3% |
| Assets, Current | $79.2亿 | $45.1亿 | +75.5% | $64.6亿 | $31.2亿 | +107.1% |
| Assets, Fair Value Disclosure | $7.06亿2025-11-01 | $5910万 | +1,094.9% | $7390万2025-02-01 | $1360万 | +443.4% |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $1.02亿 | $0 | – | – | – | – |
| Business Combination, Contingent Consideration, Liability, Noncurrent | $7.5亿 | – | – | – | – | – |
| Capital Expenditures Incurred but Not yet Paid | – | – | – | $1.56亿 | $6930万 | +125.7% |
| Cash | $25.7亿2026-01-31 | $8.91亿 | +188.0% | $25.7亿 | $8.91亿 | +188.0% |
| Cash and Cash Equivalents, at Carrying Value | $39.3亿 | $12.2亿 | +221.2% | $26.4亿 | $9.48亿 | +178.3% |
| Cash Equivalents, at Carrying Value | $7270万2026-01-31 | $5720万 | +27.1% | $7270万 | $5720万 | +27.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $39.3亿 | $12.2亿 | +221.2% | $26.4亿 | $9.48亿 | +178.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $8920万 | $3.39亿 | -73.6% | $16.9亿 | -$250万 | +67,720.0% |
| Class of Warrant or Right, Exercise Price of Warrants or Rights | – | – | – | $87.772025-02-01 | – | – |
| Class of Warrant or Right, Number of Securities Called by Warrants or Rights | – | – | – | 420万2025-02-01 | – | – |
| Common Stock, Dividends, Per Share, Cash Paid | $0.06 | $0.06 | 0.0% | $0.24 | $0.24 | 0.0% |
| Common Stock, Dividends, Per Share, Declared | $0.06 | $0.06 | 0.0% | $0.24 | $0.24 | 0.0% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 13亿 | – | – | 13亿 | 13亿 | 0.0% |
| Common Stock, Shares, Issued | 8.47亿2026-01-31 | 8.66亿 | -2.2% | 8.47亿 | 8.66亿 | -2.2% |
| Common Stock, Shares, Outstanding | 8.47亿2026-01-31 | 8.66亿 | -2.2% | 8.47亿 | 8.66亿 | -2.2% |
| Common Stock, Value, Issued | $180万 | $170万 | +5.9% | $170万 | $170万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $3.08亿 | $1.96亿 | +57.5% | $26.7亿 | -$8.86亿 | +401.4% |
| Cost of Goods and Services Sold | $12.8亿 | $9.96亿 | +29.0% | $40.1亿 | $33.9亿 | +18.6% |
| Costs and Expenses | $9.96亿 | $7.21亿 | +38.2% | $28.6亿 | $31亿 | -7.9% |
| Current Federal Tax Expense (Benefit) | – | – | – | $6940万 | $3090万 | +124.6% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2.62亿 | $7080万 | +270.3% |
| Current Income Tax Expense (Benefit) | – | – | – | $3.34亿 | $1.02亿 | +227.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $270万 | $50万 | +440.0% |
| Debt Issuance Costs, Net | $3700万 | $3270万 | +13.1% | $2930万 | $2670万 | +9.7% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$1950万 | -$3450万 | +43.5% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $6000万 | -$7500万 | +180.0% |
| Deferred Income Tax Assets, Net | $3.22亿 | $4.1亿 | -21.4% | $3.46亿 | $4.01亿 | -13.8% |
| Deferred Income Tax Expense (Benefit) | $2490万 | -$490万 | +608.2% | $4220万 | -$1.12亿 | +137.7% |
| Deferred Income Tax Liabilities, Net | $1.25亿 | $3330万 | +275.4% | $2050万 | $3380万 | -39.3% |
| Deferred Revenue, Current | $6370万2026-05-02 | $3180万 | +100.3% | $4010万 | $2210万 | +81.4% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $170万 | -$240万 | +170.8% |
| Deferred Tax Assets, Gross | $17.5亿2026-01-31 | $19.2亿 | -9.0% | $17.5亿 | $19.2亿 | -9.0% |
| Deferred Tax Assets, Net | $3.25亿2026-01-31 | $3.67亿 | -11.4% | $3.25亿 | $3.67亿 | -11.4% |
| Deferred Tax Assets, Net of Valuation Allowance | $6.36亿2026-01-31 | $7.46亿 | -14.8% | $6.36亿 | $7.46亿 | -14.8% |
| Deferred Tax Assets, Operating Loss Carryforwards | $1.05亿2026-01-31 | $1.12亿 | -6.0% | $1.05亿 | $1.12亿 | -6.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-08-01, 10-Q 2026-05-02, 10-K 2026-01-31, 10-Q 2025-11-01, 10-Q 2025-08-02, 10-Q 2025-05-03, 10-K 2025-02-01, 10-Q 2024-11-02, 10-Q 2024-08-03
数据截至 2026-11-01