Stock Analysis on Net
Stock Analysis on Net

Marvell Technology Inc. (NASDAQ:MRVL)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Marvell Technology Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Jan 31, 2026 Feb 1, 2025 Feb 3, 2024 Jan 28, 2023 Jan 29, 2022 Jan 30, 2021
Accounts payable 4.82 3.08 1.94 2.07 2.09 2.34
Variable consideration estimates 3.20 2.56 2.88 2.54 1.17 1.68
Accrued income taxes payable 1.02 0.28 0.08 0.53 0.11 0.02
Technology license obligations 0.38 0.50 0.50 0.53 0.38 0.66
Operating lease liabilities, current portion 0.25 0.24 0.19 0.19 0.17 0.30
Accrued restructuring 0.25 0.45 0.08 0.00 0.00 0.00
Accrued interest 0.21 0.22 0.19 0.10 0.09 0.08
Deferred revenue 0.18 0.11 0.20 0.20 0.18 0.15
Accrued royalties 0.11 0.06 0.36 0.45 0.04 0.47
Other 0.40 0.40 0.39 0.30 0.68 0.69
Accrued liabilities 6.00% 4.81% 4.87% 4.85% 2.82% 4.05%
Accrued employee compensation 1.39 1.50 1.24 1.09 1.09 1.76
Short-term debt 2.24 0.64 0.51 2.59 0.29 1.85
Current liabilities 14.45% 10.03% 8.55% 10.60% 6.28% 10.01%
Long-term debt 17.82 19.47 19.12 17.35 20.29 9.23
Operating lease liabilities, non-current 1.18 1.14 0.92 0.90 0.63 0.97
Non-current restructuring liabilities 0.87 1.13 0.00 0.00 0.01 0.02
Technology license obligations 0.72 1.16 0.93 1.19 1.38 0.80
Non-current income taxes payable 0.53 0.36 0.27 0.13 0.16 0.21
Deferred tax liabilities 0.09 0.17 0.28 0.29 0.16 0.21
Other 0.14 0.08 0.07 0.13 0.08 0.20
Other non-current liabilities 3.53% 4.04% 2.47% 2.62% 2.41% 2.40%
Non-current liabilities 21.34% 23.51% 21.59% 19.97% 22.70% 11.63%
Total liabilities 35.79% 33.54% 30.13% 30.57% 28.98% 21.64%
Preferred stock, $0.002 par value; no shares issued and outstanding 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $0.002 par value 0.01 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 58.11 71.93 69.93 64.43 64.27 58.81
Accumulated other comprehensive income 0.00 0.00 0.01 0.00 0.00 0.00
Retained earnings (accumulated deficit) 6.08 -5.49 -0.08 4.99 6.75 19.54
Stockholders’ equity 64.21% 66.46% 69.87% 69.43% 71.02% 78.36%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30).

The capital structure exhibits a progressive shift toward higher leverage, characterized by a steady increase in total liabilities and a corresponding decline in stockholders' equity over the analyzed period. Total liabilities rose from 21.64% of total liabilities and stockholders' equity in January 2021 to 35.79% by January 2026.

Debt and Non-Current Obligations
A significant expansion in long-term debt is observed, more than doubling from 9.23% in 2021 to a peak of 19.47% in 2025, before moderating slightly to 17.82% in 2026. This trend drove the overall increase in non-current liabilities, which climbed from 11.63% to 21.34% over the period. Other non-current liabilities also showed an upward trajectory, increasing from 2.40% in 2021 to 3.53% in 2026.
Current Liabilities and Short-Term Liquidity
Current liabilities remained relatively stable between 6.28% and 10.60% from 2021 through 2025, but experienced a notable spike to 14.45% in 2026. This increase was primarily driven by a rise in accounts payable, which reached 4.82% in 2026 compared to 2.34% in 2021, and accrued liabilities, which rose to 6.00%. Short-term debt exhibited volatility, fluctuating between a low of 0.29% in 2022 and a high of 2.59% in 2023, ending at 2.24% in 2026.
Stockholders' Equity Composition
Stockholders' equity declined from 78.36% in 2021 to 64.21% in 2026. Additional paid-in capital served as the dominant component of equity, peaking at 71.93% in 2025 before decreasing to 58.11% in 2026. Retained earnings showed significant volatility, falling from 19.54% in 2021 to an accumulated deficit of -5.49% by February 2025, before rebounding to a positive 6.08% in January 2026.
Operational Liability Trends
Variable consideration estimates remained a consistent component of the liability structure, generally fluctuating between 1.17% and 3.20%. Accrued restructuring liabilities, which were negligible or absent in earlier years, appeared in 2024 and peaked at 0.45% in 2025, suggesting a period of organizational realignment.

Overall, the financial profile indicates a transition from a predominantly equity-funded structure to one with increased reliance on long-term debt and short-term operational credit. The volatility in retained earnings and the shift in additional paid-in capital suggest active capital management and fluctuations in net profitability over the six-year horizon.

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