Price to Earnings (P/E)
since 2005
Calculation
Marvell Technology Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss)1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 11, 2026 | 29.61 | = | 90.44 | ÷ | 3.05 | 3.05 | = | 2,670,100 | ÷ | 874,300,000 | |
| Mar 12, 2025 | — | = | 69.85 | ÷ | -1.02 | -1.02 | = | -885,000 | ÷ | 866,100,000 | |
| Mar 13, 2024 | — | = | 67.63 | ÷ | -1.08 | -1.08 | = | -933,400 | ÷ | 866,000,000 | |
| Mar 9, 2023 | — | = | 40.91 | ÷ | -0.19 | -0.19 | = | -163,500 | ÷ | 856,900,000 | |
| Mar 10, 2022 | — | = | 65.25 | ÷ | -0.50 | -0.50 | = | -421,034 | ÷ | 847,800,000 | |
| Mar 16, 2021 | — | = | 47.96 | ÷ | -0.41 | -0.41 | = | -277,298 | ÷ | 675,700,000 | |
| Mar 23, 2020 | 7.94 | = | 18.96 | ÷ | 2.39 | 2.39 | = | 1,584,391 | ÷ | 663,100,000 | |
| Mar 28, 2019 | — | = | 19.42 | ÷ | -0.27 | -0.27 | = | -179,094 | ÷ | 659,100,000 | |
| Mar 29, 2018 | 20.02 | = | 21.00 | ÷ | 1.05 | 1.05 | = | 520,831 | ÷ | 496,500,000 | |
| Mar 28, 2017 | 372.92 | = | 15.70 | ÷ | 0.04 | 0.04 | = | 21,151 | ÷ | 502,400,000 | |
| Jul 21, 2016 | — | = | 11.28 | ÷ | -1.59 | -1.59 | = | -811,400 | ÷ | 511,200,000 | |
| Mar 26, 2015 | 17.70 | = | 14.96 | ÷ | 0.85 | 0.85 | = | 435,346 | ÷ | 515,000,000 | |
| Mar 27, 2014 | 24.44 | = | 15.31 | ÷ | 0.63 | 0.63 | = | 315,320 | ÷ | 503,400,000 | |
| Mar 29, 2013 | 17.31 | = | 10.58 | ÷ | 0.61 | 0.61 | = | 306,585 | ÷ | 501,700,000 | |
| Mar 27, 2012 | 14.87 | = | 15.75 | ÷ | 1.06 | 1.06 | = | 615,091 | ÷ | 580,600,000 | |
| Mar 28, 2011 | 11.31 | = | 16.15 | ÷ | 1.43 | 1.43 | = | 904,129 | ÷ | 633,400,000 | |
| Mar 31, 2010 | 36.98 | = | 20.42 | ÷ | 0.55 | 0.55 | = | 353,456 | ÷ | 640,025,848 | |
| Apr 1, 2009 | 39.76 | = | 9.47 | ÷ | 0.24 | 0.24 | = | 147,242 | ÷ | 618,229,230 | |
| Mar 28, 2008 | — | = | 11.13 | ÷ | -0.19 | -0.19 | = | -114,427 | ÷ | 601,061,965 | |
| Jul 2, 2007 | — | = | 18.08 | ÷ | -0.02 | -0.02 | = | -12,095 | ÷ | 587,591,437 | |
| Apr 13, 2006 | 50.71 | = | 28.77 | ÷ | 0.57 | 0.57 | = | 331,363 | ÷ | 584,082,648 | |
| Apr 14, 2005 | 67.90 | = | 17.23 | ÷ | 0.25 | 0.25 | = | 141,661 | ÷ | 558,295,156 |
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), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Marvell Technology Inc. Annual Report.
The financial data reveals a highly volatile relationship between share price and earnings per share, resulting in a Price-to-Earnings (P/E) ratio characterized by frequent discontinuities and extreme fluctuations. The recurrence of negative earnings per share across multiple periods has rendered the P/E ratio unavailable for a significant portion of the timeline, indicating periods of net losses that disrupt traditional valuation metrics.
- Valuation Volatility and EPS Correlation
- A strong correlation exists between earnings instability and P/E availability. The absence of P/E values in 2007, 2008, 2016, 2019, and from 2021 through 2024 coincides exactly with negative earnings per share. This pattern suggests a cyclical or unstable earnings profile where the company frequently transitioned between profitability and loss.
- Historical P/E Trends
- In the early period between 2005 and 2006, the market applied a high growth premium, with P/E ratios ranging from 50.71 to 67.90. Following a period of losses, valuations compressed significantly between 2009 and 2015, with the ratio fluctuating between a low of 11.31 in 2011 and a high of 24.44 in 2014, reflecting a more conservative market valuation of earnings.
- Anomalous Valuation Spikes
- A critical outlier occurred in 2017, where the P/E ratio surged to 372.92. This extreme spike was not driven by an exponential increase in share price, but rather by a nominal positive earnings per share of 0.04. This indicates a period where the company barely maintained profitability, causing the ratio to expand disproportionately.
- Recent Recovery and Valuation Shift
- Following a prolonged interval of negative earnings ending in 2024, a return to profitability is observed by 2026. This recovery is accompanied by a substantial increase in share price to 90.44 and a P/E ratio of 29.61. This suggests a market re-valuation based on restored earnings capacity and higher investor expectations for future growth.
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Comparison to Competitors
Marvell Technology Inc., P/E, long-term trends, comparison to competitors
| Marvell Technology Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 11, 2026 | 29.61 | — | — | — | — | — | 52.26 | 53.62 | 13.70 | 39.58 | — | — |
| Mar 12, 2025 | — | 75.29 | 54.43 | 29.37 | 67.63 | — | 29.72 | 24.09 | 24.69 | 43.95 | 34.74 | 40.19 |
| Mar 13, 2024 | — | 110.61 | 66.48 | 19.20 | 175.56 | — | 34.24 | 27.05 | 145.72 | 56.68 | 18.95 | 34.72 |
| Mar 9, 2023 | — | 317.27 | 27.14 | 19.63 | 36.78 | 109.27 | 20.04 | 19.26 | — | 131.70 | 17.07 | 22.24 |
| Mar 10, 2022 | — | 96.16 | 31.21 | 13.55 | 20.70 | 14.54 | 16.89 | 13.77 | 6.62 | 68.08 | 9.75 | 18.88 |
| Mar 16, 2021 | — | 45.54 | 68.31 | 22.05 | 40.73 | 10.59 | 25.97 | 21.03 | 13.38 | 78.54 | 17.15 | 20.38 |
| Mar 23, 2020 | 7.94 | 41.66 | 41.43 | 22.31 | 66.38 | 11.02 | 25.92 | 24.23 | 21.80 | 67.59 | 28.06 | 27.95 |
| Mar 28, 2019 | — | 169.62 | 31.04 | 20.25 | 47.09 | 13.91 | 18.44 | 13.64 | 7.98 | 22.77 | 22.03 | 24.47 |
| Mar 29, 2018 | 20.02 | 68.76 | 22.17 | 9.75 | 8.14 | 10.41 | 23.02 | 11.70 | 3.40 | 48.05 | — | 18.05 |
| Mar 28, 2017 | 372.92 | 282.39 | 44.94 | 16.16 | 63.27 | 22.15 | 15.04 | 15.33 | 9.20 | 36.34 | 31.96 | 27.77 |
| Jul 21, 2016 | — | — | 26.07 | 20.68 | — | 16.72 | 17.18 | 15.81 | — | 28.95 | 17.37 | 21.45 |
| Mar 26, 2015 | 17.70 | — | 27.06 | 15.88 | 28.48 | 11.85 | 22.54 | 17.37 | 6.25 | 19.88 | 17.18 | 17.66 |
| Mar 27, 2014 | 24.44 | — | 27.51 | 27.87 | 98.35 | 13.90 | 20.52 | 18.20 | 11.39 | 22.17 | 16.11 | 21.89 |
| Mar 29, 2013 | 17.31 | — | 23.06 | 78.13 | 23.31 | 12.80 | 17.82 | 66.48 | 14.78 | 14.02 | 17.19 | 22.29 |
| Mar 27, 2012 | 14.87 | — | 18.56 | 118.67 | 13.97 | 9.48 | 11.45 | 37.82 | — | 15.69 | 16.21 | 21.47 |
| Mar 28, 2011 | 11.31 | 10.61 | 11.45 | 7.52 | 12.75 | 10.29 | 7.61 | 6.16 | 32.47 | 41.12 | 20.59 | 17.06 |
| Mar 31, 2010 | 36.98 | 13.36 | 15.08 | 18.91 | 15.37 | 10.60 | 25.53 | 13.40 | 4.16 | — | 22.76 | 12.93 |
| Apr 1, 2009 | 39.76 | 17.53 | 35.03 | — | — | 26.39 | — | — | — | — | 46.01 | 20.53 |
| Mar 28, 2008 | — | — | 6.28 | 14.45 | — | 12.70 | 18.23 | 10.91 | — | 13.91 | 17.31 | 10.17 |
| Jul 2, 2007 | — | — | 18.79 | 14.37 | — | 16.91 | 21.95 | 6.95 | — | 22.62 | 19.70 | 15.55 |
| Apr 13, 2006 | 50.71 | — | 20.98 | 16.71 | — | 23.84 | 25.83 | 17.41 | 25.89 | 27.68 | 24.33 | 10.29 |
| Apr 14, 2005 | 67.90 | 118.04 | 33.33 | 25.22 | — | 13.93 | 20.83 | 13.36 | 45.76 | 42.67 | 30.98 | 20.56 |
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), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Marvell Technology Inc., P/E, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Marvell Technology Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Mar 11, 2026 | 29.61 | — |
| Mar 12, 2025 | — | 47.92 |
| Mar 13, 2024 | — | 81.32 |
| Mar 9, 2023 | — | 49.31 |
| Mar 10, 2022 | — | 23.72 |
| Mar 16, 2021 | — | 25.08 |
| Mar 23, 2020 | 7.94 | 24.71 |
| Mar 28, 2019 | — | 19.59 |
| Mar 29, 2018 | 20.02 | 13.92 |
| Mar 28, 2017 | 372.92 | 24.36 |
| Jul 21, 2016 | — | 26.55 |
| Mar 26, 2015 | 17.70 | 15.22 |
| Mar 27, 2014 | 24.44 | 17.33 |
| Mar 29, 2013 | 17.31 | 17.07 |
| Mar 27, 2012 | 14.87 | 15.65 |
| Mar 28, 2011 | 11.31 | 12.72 |
| Mar 31, 2010 | 36.98 | 13.77 |
| Apr 1, 2009 | 39.76 | 55.18 |
| Mar 28, 2008 | — | 21.75 |
| Jul 2, 2007 | — | 23.45 |
| Apr 13, 2006 | 50.71 | 20.73 |
| Apr 14, 2005 | 67.90 | 20.78 |
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), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Industry (Information Technology)
Marvell Technology Inc., P/E, long-term trends, comparison to industry (information technology)
| Marvell Technology Inc. | Information Technology | |
|---|---|---|
| Mar 11, 2026 | 29.61 | — |
| Mar 12, 2025 | — | 40.70 |
| Mar 13, 2024 | — | 45.43 |
| Mar 9, 2023 | — | 36.13 |
| Mar 10, 2022 | — | 26.99 |
| Mar 16, 2021 | — | 29.75 |
| Mar 23, 2020 | 7.94 | 30.97 |
| Mar 28, 2019 | — | 23.40 |
| Mar 29, 2018 | 20.02 | 23.17 |
| Mar 28, 2017 | 372.92 | 23.55 |
| Jul 21, 2016 | — | 19.69 |
| Mar 26, 2015 | 17.70 | 16.54 |
| Mar 27, 2014 | 24.44 | 17.14 |
| Mar 29, 2013 | 17.31 | 14.15 |
| Mar 27, 2012 | 14.87 | 14.37 |
| Mar 28, 2011 | 11.31 | 13.71 |
| Mar 31, 2010 | 36.98 | 15.08 |
| Apr 1, 2009 | 39.76 | 21.50 |
| Mar 28, 2008 | — | 15.83 |
| Jul 2, 2007 | — | 36.48 |
| Apr 13, 2006 | 50.71 | 32.07 |
| Apr 14, 2005 | 67.90 | 33.76 |
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), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-02-02), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).