Price to Sales (P/S)
since 2005
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Marvell Technology Inc. pages available for free this week:
- Balance Sheet: Assets
- Cash Flow Statement
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Calculation
Marvell Technology Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net revenue1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 11, 2026 | = | ÷ | = | ÷ | |||||||
| Mar 12, 2025 | = | ÷ | = | ÷ | |||||||
| Mar 13, 2024 | = | ÷ | = | ÷ | |||||||
| Mar 9, 2023 | = | ÷ | = | ÷ | |||||||
| Mar 10, 2022 | = | ÷ | = | ÷ | |||||||
| Mar 16, 2021 | = | ÷ | = | ÷ | |||||||
| Mar 23, 2020 | = | ÷ | = | ÷ | |||||||
| Mar 28, 2019 | = | ÷ | = | ÷ | |||||||
| Mar 29, 2018 | = | ÷ | = | ÷ | |||||||
| Mar 28, 2017 | = | ÷ | = | ÷ | |||||||
| Jul 21, 2016 | = | ÷ | = | ÷ | |||||||
| Mar 26, 2015 | = | ÷ | = | ÷ | |||||||
| Mar 27, 2014 | = | ÷ | = | ÷ | |||||||
| Mar 29, 2013 | = | ÷ | = | ÷ | |||||||
| Mar 27, 2012 | = | ÷ | = | ÷ | |||||||
| Mar 28, 2011 | = | ÷ | = | ÷ | |||||||
| Mar 31, 2010 | = | ÷ | = | ÷ | |||||||
| Apr 1, 2009 | = | ÷ | = | ÷ | |||||||
| Mar 28, 2008 | = | ÷ | = | ÷ | |||||||
| Jul 2, 2007 | = | ÷ | = | ÷ | |||||||
| Apr 13, 2006 | = | ÷ | = | ÷ | |||||||
| Apr 14, 2005 | = | ÷ | = | ÷ |
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 Price to Sales (P/S) ratio demonstrates three distinct valuation cycles between 2005 and 2026, characterized by an initial period of compression, a decade of relative stagnation, and a recent phase of significant multiple expansion.
- Valuation Compression and Stagnation (2005–2016)
- The period began with a peak P/S ratio of 10.06 in 2006, followed by a sustained downward trend. The ratio reached its historical nadir of 1.68 in 2013. Throughout this decade, the P/S ratio largely fluctuated between 1.68 and 4.65, indicating a period where the market valuation was closely tied to actual sales growth or faced significant headwinds. Despite sales per share increasing from 2.19 in 2005 to 7.20 in 2015, the share price did not keep pace, leading to the observed contraction in the valuation multiple.
- Rapid Multiple Expansion (2017–2022)
- A reversal in valuation trends occurred starting in 2017, as the P/S ratio climbed from 3.40 to a peak of 12.40 by 2022. This expansion was driven by a sharp increase in share price that outpaced the growth of sales per share. Specifically, between 2020 and 2022, the P/S ratio surged from 4.66 to 12.40, reflecting a significant increase in investor expectations and a higher premium placed on each dollar of revenue.
- Recent Volatility and Stabilization (2023–2026)
- The most recent period is marked by volatility but remains at a higher baseline than the 2007–2016 era. After a correction to 5.92 in 2023, the P/S ratio returned to double digits, reaching 10.63 in 2024 and remaining near 9.65 through 2026. This suggest a new valuation plateau where the market accepts a higher multiple, supported by a projected increase in sales per share reaching 9.37 by 2026.
Overall, the data reveals a fundamental shift in how the market values the company's revenue. While the first decade was defined by valuation contraction despite growing sales, the subsequent period shows a transition toward a high-multiple valuation regime, where the share price is significantly more aggressive relative to sales performance.
Comparison to Competitors
Marvell Technology Inc., P/S, 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 | ||||||||||||
| Mar 12, 2025 | ||||||||||||
| Mar 13, 2024 | ||||||||||||
| Mar 9, 2023 | ||||||||||||
| Mar 10, 2022 | ||||||||||||
| Mar 16, 2021 | ||||||||||||
| Mar 23, 2020 | ||||||||||||
| Mar 28, 2019 | ||||||||||||
| Mar 29, 2018 | ||||||||||||
| Mar 28, 2017 | ||||||||||||
| Jul 21, 2016 | ||||||||||||
| Mar 26, 2015 | ||||||||||||
| Mar 27, 2014 | ||||||||||||
| Mar 29, 2013 | ||||||||||||
| Mar 27, 2012 | ||||||||||||
| Mar 28, 2011 | ||||||||||||
| Mar 31, 2010 | ||||||||||||
| Apr 1, 2009 | ||||||||||||
| Mar 28, 2008 | ||||||||||||
| Jul 2, 2007 | ||||||||||||
| Apr 13, 2006 | ||||||||||||
| Apr 14, 2005 |
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/S, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Marvell Technology Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Mar 11, 2026 | ||
| Mar 12, 2025 | ||
| Mar 13, 2024 | ||
| Mar 9, 2023 | ||
| Mar 10, 2022 | ||
| Mar 16, 2021 | ||
| Mar 23, 2020 | ||
| Mar 28, 2019 | ||
| Mar 29, 2018 | ||
| Mar 28, 2017 | ||
| Jul 21, 2016 | ||
| Mar 26, 2015 | ||
| Mar 27, 2014 | ||
| Mar 29, 2013 | ||
| Mar 27, 2012 | ||
| Mar 28, 2011 | ||
| Mar 31, 2010 | ||
| Apr 1, 2009 | ||
| Mar 28, 2008 | ||
| Jul 2, 2007 | ||
| Apr 13, 2006 | ||
| Apr 14, 2005 |
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/S, long-term trends, comparison to industry (information technology)
| Marvell Technology Inc. | Information Technology | |
|---|---|---|
| Mar 11, 2026 | ||
| Mar 12, 2025 | ||
| Mar 13, 2024 | ||
| Mar 9, 2023 | ||
| Mar 10, 2022 | ||
| Mar 16, 2021 | ||
| Mar 23, 2020 | ||
| Mar 28, 2019 | ||
| Mar 29, 2018 | ||
| Mar 28, 2017 | ||
| Jul 21, 2016 | ||
| Mar 26, 2015 | ||
| Mar 27, 2014 | ||
| Mar 29, 2013 | ||
| Mar 27, 2012 | ||
| Mar 28, 2011 | ||
| Mar 31, 2010 | ||
| Apr 1, 2009 | ||
| Mar 28, 2008 | ||
| Jul 2, 2007 | ||
| Apr 13, 2006 | ||
| Apr 14, 2005 |
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).