Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Return on Sales
Return on Investment
Marvell Technology Inc., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-08-01), 10-Q (reporting date: 2026-05-02), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-11-01), 10-Q (reporting date: 2025-08-02), 10-Q (reporting date: 2025-05-03), 10-K (reporting date: 2025-02-01), 10-Q (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01).
The financial data reveals a prolonged period of operational instability followed by a sharp and significant transition to profitability beginning in late 2025. While the organization struggled with negative net and operating margins for several years, a distinct inflection point occurred on November 1, 2025, marking a pivot from systemic losses to strong positive returns across all key profitability metrics.
- Gross Profit Margin
- The gross profit margin exhibited a fluctuating but generally resilient trend. Starting at 50.83% in May 2021, it experienced a gradual decline, reaching a trough of 39.60% in November 2024. Following this low point, a consistent recovery trend is observed, with the margin climbing steadily to reach 52.21% by August 2026, indicating improved pricing power or more efficient cost of goods sold management.
- Operating and Net Profit Margins
- Operational efficiency remained under pressure for the majority of the analyzed period. Operating profit margins were predominantly negative, hitting a critical low of -18.39% in November 2024. Net profit margins mirrored this trend, descending to -27.49% during the same period. However, a dramatic reversal is noted in November 2025, where the operating margin surged to 14.80% and the net profit margin jumped to 31.75%. By August 2026, the operating margin reached 16.52% and the net profit margin stabilized at 27.93%, signaling a fundamental shift in the cost structure or a significant increase in revenue scale.
- Return on Equity (ROE) and Return on Assets (ROA)
- Both ROE and ROA remained in negative territory from May 2021 through August 2025, reflecting a period where the company failed to generate positive returns from its assets and shareholder equity. The most severe contraction occurred in November 2024, with ROE at -11.05% and ROA at -7.50%. A sharp recovery aligned with the margin pivot occurred in November 2025, with ROE climbing to 17.60% and ROA to 11.47%. These metrics peaked in January 2026 before settling at 14.25% for ROE and 9.58% for ROA by August 2026.
Overall, the trajectory suggests a period of heavy investment or operational restructuring that culminated in a high-growth, high-profitability phase. The synchronicity of the recovery across all ratios in late 2025 indicates a comprehensive turnaround in the company's financial performance.
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Gross Profit Margin
Marvell Technology Inc., gross profit margin calculation (quarterly data)
| Aug 1, 2026 | May 2, 2026 | Jan 31, 2026 | Nov 1, 2025 | Aug 2, 2025 | May 3, 2025 | Feb 1, 2025 | Nov 2, 2024 | Aug 3, 2024 | May 4, 2024 | Feb 3, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Gross profit | 1,455,600) | 1,260,800) | 1,147,900) | 1,069,800) | 1,010,600) | 952,400) | 917,400) | 349,400) | 587,600) | 527,800) | 664,100) | 551,200) | 521,100) | 557,200) | 673,300) | 777,300) | 786,000) | 750,900) | 686,434) | 587,820) | 371,830) | 418,141) | |||||||
| Net revenue | 2,739,300) | 2,417,800) | 2,218,700) | 2,074,500) | 2,006,100) | 1,895,300) | 1,817,400) | 1,516,100) | 1,272,900) | 1,160,900) | 1,426,500) | 1,418,600) | 1,340,900) | 1,321,700) | 1,418,500) | 1,537,300) | 1,516,900) | 1,446,900) | 1,342,978) | 1,211,245) | 1,075,881) | 832,279) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Gross profit margin1 | 52.21% | 51.50% | 51.02% | 50.69% | 44.64% | 43.17% | 41.31% | 39.60% | 44.15% | 42.35% | 41.64% | 41.87% | 45.01% | 48.22% | 50.47% | 51.34% | 50.94% | 47.21% | 46.26% | 45.92% | 46.07% | 50.83% | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | — | — | — | 53.20% | 50.28% | 49.52% | 48.26% | 47.62% | 50.09% | 49.35% | 48.38% | 47.61% | 46.76% | 46.12% | 45.01% | 43.70% | 43.98% | 44.93% | 46.55% | 48.01% | 48.53% | |||||||
| Analog Devices Inc. | — | — | — | 65.80% | 64.49% | 62.84% | 61.47% | 60.15% | 58.76% | 57.16% | 57.08% | 57.85% | 59.84% | 62.47% | 64.01% | 65.23% | 65.69% | 65.62% | 62.70% | 58.63% | 58.33% | 57.81% | |||||||
| Applied Materials Inc. | — | — | — | 49.40% | 48.96% | 48.72% | 48.67% | 48.50% | 48.14% | 47.73% | 47.46% | 47.41% | 47.18% | 46.98% | 46.70% | 46.40% | 46.35% | 46.39% | 46.51% | 47.05% | 47.51% | 47.67% | |||||||
| Broadcom Inc. | — | — | — | 68.77% | 68.28% | 67.82% | 67.77% | 66.83% | 66.09% | 64.70% | 63.03% | 63.90% | 65.05% | 67.06% | 68.93% | 68.28% | 67.71% | 66.98% | 66.55% | 65.68% | 64.42% | 62.95% | |||||||
| Intel Corp. | — | — | — | — | 38.60% | 35.43% | 34.77% | 35.58% | 29.76% | 31.67% | 32.66% | 34.67% | 41.42% | 41.49% | 40.04% | 38.14% | 38.27% | 38.34% | 42.61% | 46.56% | 49.85% | 54.32% | |||||||
| KLA Corp. | — | — | 61.30% | 61.45% | 61.57% | 61.30% | 60.91% | 60.56% | 59.68% | 59.75% | 59.97% | 59.57% | 59.76% | 59.44% | 59.81% | 60.16% | 60.69% | 61.23% | 61.00% | 60.86% | 60.77% | 60.27% | |||||||
| Lam Research Corp. | — | — | 50.47% | 49.98% | 49.80% | 49.31% | 48.71% | 48.03% | 47.60% | 47.47% | 47.32% | 46.84% | 45.23% | 44.80% | 44.62% | 44.65% | 45.31% | 45.74% | 45.69% | 45.93% | 46.30% | 46.19% | |||||||
| Micron Technology Inc. | — | — | 80.72% | 72.57% | 58.44% | 45.31% | 39.79% | 37.13% | 34.73% | 30.92% | 22.35% | 11.42% | -0.32% | -14.49% | -9.11% | 9.03% | 27.51% | 41.34% | 45.18% | 46.89% | 45.81% | 41.37% | |||||||
| NVIDIA Corp. | 74.67% | 74.15% | 71.07% | 70.05% | 69.85% | 70.11% | 74.99% | 75.86% | 75.98% | 75.29% | 72.72% | 69.85% | 64.62% | 56.31% | 56.93% | 57.84% | 60.45% | 65.26% | 64.93% | 64.40% | 63.76% | 62.43% | |||||||
| Qualcomm Inc. | — | — | — | 54.23% | 54.80% | 55.10% | 55.43% | 55.68% | 55.68% | 55.99% | 56.21% | 55.90% | 55.80% | 55.54% | 55.70% | 56.31% | 56.46% | 57.22% | 57.84% | 57.99% | 58.51% | 58.16% | |||||||
| Texas Instruments Inc. | — | — | — | — | 58.33% | 57.32% | 57.02% | 57.48% | 58.03% | 58.02% | 58.14% | 58.63% | 59.36% | 61.01% | 62.90% | 64.46% | 66.29% | 67.64% | 68.76% | 69.51% | 69.26% | 68.68% | |||||||
Based on: 10-Q (reporting date: 2026-08-01), 10-Q (reporting date: 2026-05-02), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-11-01), 10-Q (reporting date: 2025-08-02), 10-Q (reporting date: 2025-05-03), 10-K (reporting date: 2025-02-01), 10-Q (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01).
1 Q2 2027 Calculation
Gross profit margin = 100
× (Gross profitQ2 2027
+ Gross profitQ1 2027
+ Gross profitQ4 2026
+ Gross profitQ3 2026)
÷ (Net revenueQ2 2027
+ Net revenueQ1 2027
+ Net revenueQ4 2026
+ Net revenueQ3 2026)
= 100 × (1,455,600 + 1,260,800 + 1,147,900 + 1,069,800)
÷ (2,739,300 + 2,417,800 + 2,218,700 + 2,074,500)
= 52.21%
2 Click competitor name to see calculations.
The gross profit margin exhibits a cyclical pattern characterized by an initial period of stability, a significant phase of contraction, and a subsequent strong recovery. While net revenue demonstrates a long-term upward trajectory, the efficiency of converting that revenue into gross profit has fluctuated considerably over the analyzed period.
- Initial Stability and Fluctuations (May 2021 – January 2023)
- During this interval, the gross profit margin remained relatively resilient, fluctuating between a low of 45.92% and a peak of 51.34%. Despite variations in quarterly net revenue, the margin generally maintained a baseline above 46%, indicating a stable relationship between production costs and pricing.
- Margin Compression Phase (April 2023 – November 2024)
- A sustained downward trend is observed starting in April 2023, where the margin declined from 48.22% to a period low of 39.60% by November 2024. This contraction occurred even as net revenue remained substantial, suggesting an increase in the cost of goods sold or a shift in product mix toward lower-margin offerings.
- Recovery and Expansion Phase (February 2025 – August 2026)
- A consistent and strong recovery began in February 2025, with the gross profit margin climbing from 41.31% to reach 52.21% by August 2026. This recovery is aligned with a significant acceleration in net revenue, which grew from approximately $1.8 billion to over $2.7 billion. The simultaneous increase in both revenue and margin suggests improved operational leverage and enhanced pricing power during this period.
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Operating Profit Margin
Marvell Technology Inc., operating profit margin calculation (quarterly data)
| Aug 1, 2026 | May 2, 2026 | Jan 31, 2026 | Nov 1, 2025 | Aug 2, 2025 | May 3, 2025 | Feb 1, 2025 | Nov 2, 2024 | Aug 3, 2024 | May 4, 2024 | Feb 3, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Operating income (loss) | 459,700) | 339,400) | 404,400) | 357,800) | 290,100) | 270,600) | 235,200) | (702,800) | (100,400) | (152,300) | (33,300) | (146,300) | (205,700) | (182,400) | 23,300) | 105,800) | 39,100) | 69,800) | 34,652) | (33,341) | (266,668) | (82,311) | |||||||
| Net revenue | 2,739,300) | 2,417,800) | 2,218,700) | 2,074,500) | 2,006,100) | 1,895,300) | 1,817,400) | 1,516,100) | 1,272,900) | 1,160,900) | 1,426,500) | 1,418,600) | 1,340,900) | 1,321,700) | 1,418,500) | 1,537,300) | 1,516,900) | 1,446,900) | 1,342,978) | 1,211,245) | 1,075,881) | 832,279) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Operating profit margin1 | 16.52% | 15.97% | 16.14% | 14.80% | 1.29% | -4.57% | -12.49% | -18.39% | -8.19% | -10.05% | -10.31% | -9.29% | -4.61% | -0.25% | 4.02% | 4.27% | 2.00% | -3.85% | -7.79% | -9.80% | -10.42% | -7.87% | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | — | — | — | 15.71% | 11.65% | 10.66% | 8.78% | 7.66% | 9.62% | 7.37% | 5.64% | 3.74% | 2.55% | 1.77% | -0.41% | -1.73% | 0.73% | 5.36% | 11.48% | 16.83% | 20.86% | |||||||
| Analog Devices Inc. | — | — | — | 35.55% | 32.50% | 29.24% | 26.61% | 24.61% | 22.71% | 20.76% | 21.56% | 21.63% | 24.23% | 28.34% | 31.07% | 33.43% | 33.06% | 32.15% | 27.29% | 20.49% | 20.42% | 18.87% | |||||||
| Applied Materials Inc. | — | — | — | 29.64% | 28.59% | 28.16% | 29.22% | 30.14% | 29.66% | 29.22% | 28.95% | 29.02% | 28.87% | 28.89% | 28.86% | 28.92% | 29.28% | 29.64% | 30.20% | 31.03% | 31.80% | 31.37% | |||||||
| Broadcom Inc. | — | — | — | 48.05% | 43.39% | 40.69% | 39.89% | 37.72% | 35.94% | 32.35% | 26.10% | 27.93% | 30.84% | 36.50% | 45.25% | 45.00% | 45.19% | 44.23% | 42.84% | 40.47% | 37.37% | 34.35% | |||||||
| Intel Corp. | — | — | — | — | -0.14% | -9.39% | -4.19% | -4.46% | -22.84% | -20.57% | -21.99% | -17.52% | -0.83% | 0.89% | 0.17% | -6.86% | -7.01% | -6.16% | 3.70% | 12.16% | 18.88% | 25.87% | |||||||
| KLA Corp. | — | — | 41.69% | 41.68% | 41.99% | 39.86% | 39.28% | 38.10% | 35.37% | 34.78% | 34.10% | 33.27% | 34.30% | 37.20% | 38.06% | 39.00% | 39.86% | 40.05% | 39.67% | 39.30% | 38.90% | 37.26% | |||||||
| Lam Research Corp. | — | — | 35.29% | 34.26% | 33.76% | 33.00% | 32.01% | 30.85% | 29.50% | 28.89% | 28.61% | 28.03% | 27.08% | 28.42% | 29.69% | 30.76% | 31.76% | 31.71% | 31.24% | 31.18% | 31.60% | 31.06% | |||||||
| Micron Technology Inc. | — | — | 74.59% | 65.63% | 48.34% | 32.45% | 26.14% | 22.59% | 19.76% | 15.83% | 5.19% | -7.91% | -22.77% | -41.18% | -36.97% | -15.14% | 8.73% | 25.27% | 31.54% | 34.38% | 31.86% | 27.17% | |||||||
| NVIDIA Corp. | 65.21% | 64.02% | 60.38% | 58.84% | 58.09% | 58.03% | 62.42% | 62.71% | 61.87% | 59.85% | 54.12% | 45.94% | 33.04% | 17.37% | 15.66% | 20.79% | 26.93% | 33.69% | 37.31% | 35.34% | 33.36% | 28.62% | |||||||
| Qualcomm Inc. | — | — | — | 23.19% | 25.52% | 27.12% | 27.90% | 27.78% | 27.14% | 26.29% | 25.85% | 23.83% | 23.35% | 22.74% | 21.74% | 26.03% | 30.91% | 33.66% | 35.88% | 35.82% | 32.65% | 30.88% | |||||||
| Texas Instruments Inc. | — | — | — | — | 37.29% | 35.29% | 34.06% | 34.33% | 34.89% | 34.29% | 34.94% | 35.78% | 37.03% | 39.78% | 41.85% | 44.03% | 46.54% | 48.77% | 50.63% | 51.84% | 51.52% | 50.55% | |||||||
Based on: 10-Q (reporting date: 2026-08-01), 10-Q (reporting date: 2026-05-02), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-11-01), 10-Q (reporting date: 2025-08-02), 10-Q (reporting date: 2025-05-03), 10-K (reporting date: 2025-02-01), 10-Q (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01).
1 Q2 2027 Calculation
Operating profit margin = 100
× (Operating income (loss)Q2 2027
+ Operating income (loss)Q1 2027
+ Operating income (loss)Q4 2026
+ Operating income (loss)Q3 2026)
÷ (Net revenueQ2 2027
+ Net revenueQ1 2027
+ Net revenueQ4 2026
+ Net revenueQ3 2026)
= 100 × (459,700 + 339,400 + 404,400 + 357,800)
÷ (2,739,300 + 2,417,800 + 2,218,700 + 2,074,500)
= 16.52%
2 Click competitor name to see calculations.
The operating profit margin exhibited significant volatility over the analyzed period, characterized by a cycle of initial losses, a brief recovery, a severe contraction, and a subsequent strong expansion into consistent profitability.
- Initial Volatility and Early Recovery (2021–2023)
- From May 2021 through January 2022, the operating profit margin remained consistently negative, fluctuating between -10.42% and -7.79%. A transition to profitability occurred in July 2022, with margins peaking at 4.27% in October 2022 and remaining positive through January 2023. This period coincided with steady revenue growth from approximately $832 million to over $1.4 billion.
- Operational Downturn and Maximum Contraction (2023–2024)
- A significant reversal in profitability began in April 2023, as margins returned to negative territory. This decline intensified through 2024, reaching a critical trough in November 2024, where the operating profit margin fell to -18.39%. During this specific quarter, operating losses expanded to $702.8 million, representing the lowest point of operational efficiency despite revenues increasing to $1.516 billion.
- Rapid Margin Expansion and Profitability Stabilization (2025–2026)
- A decisive recovery trend is observed starting in February 2025. The operating profit margin improved from -12.49% to a positive 1.29% by August 2025. This upward momentum continued aggressively through 2026, with margins rising to a range of 14.80% to 16.52%. This expansion was supported by substantial revenue growth, which reached $2.739 billion by August 2026, resulting in a peak quarterly operating income of $459.7 million.
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Net Profit Margin
Marvell Technology Inc., net profit margin calculation (quarterly data)
| Aug 1, 2026 | May 2, 2026 | Jan 31, 2026 | Nov 1, 2025 | Aug 2, 2025 | May 3, 2025 | Feb 1, 2025 | Nov 2, 2024 | Aug 3, 2024 | May 4, 2024 | Feb 3, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Net income (loss) | 308,000) | 34,500) | 396,100) | 1,901,300) | 194,800) | 177,900) | 200,200) | (676,300) | (193,300) | (215,600) | (392,700) | (164,300) | (207,500) | (168,900) | (15,400) | 13,300) | 4,300) | (165,700) | 6,168) | (62,532) | (276,428) | (88,242) | |||||||
| Net revenue | 2,739,300) | 2,417,800) | 2,218,700) | 2,074,500) | 2,006,100) | 1,895,300) | 1,817,400) | 1,516,100) | 1,272,900) | 1,160,900) | 1,426,500) | 1,418,600) | 1,340,900) | 1,321,700) | 1,418,500) | 1,537,300) | 1,516,900) | 1,446,900) | 1,342,978) | 1,211,245) | 1,075,881) | 832,279) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Net profit margin1 | 27.93% | 28.99% | 32.58% | 31.75% | -1.43% | -7.56% | -15.35% | -27.49% | -18.30% | -18.33% | -16.95% | -10.11% | -6.74% | -2.88% | -2.76% | -2.43% | -3.95% | -9.82% | -9.44% | -10.48% | -10.74% | -8.13% | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | — | — | — | 15.58% | 13.37% | 12.51% | 10.32% | 9.57% | 8.03% | 6.36% | 7.52% | 5.82% | 4.89% | 3.77% | 0.94% | -0.11% | 1.71% | 5.59% | 9.96% | 14.51% | 17.98% | |||||||
| Analog Devices Inc. | — | — | — | 29.79% | 26.01% | 23.02% | 20.58% | 18.85% | 18.65% | 16.75% | 17.35% | 17.07% | 20.45% | 24.34% | 26.94% | 29.23% | 28.16% | 27.27% | 22.88% | 17.00% | 16.84% | 15.18% | |||||||
| Applied Materials Inc. | — | — | — | 30.05% | 29.31% | 27.78% | 24.67% | 23.88% | 24.06% | 22.95% | 26.41% | 27.74% | 27.56% | 27.03% | 25.86% | 24.27% | 24.36% | 24.57% | 25.31% | 26.42% | 27.20% | 27.10% | |||||||
| Broadcom Inc. | — | — | — | 42.94% | 38.85% | 36.57% | 36.20% | 31.59% | 22.64% | 18.47% | 11.43% | 10.88% | 24.10% | 29.93% | 39.31% | 39.25% | 39.06% | 37.19% | 34.62% | 31.96% | 29.76% | 27.47% | |||||||
| Intel Corp. | — | — | — | — | -19.79% | -5.90% | -0.51% | 0.37% | -38.64% | -36.19% | -35.32% | -29.42% | 1.77% | 7.36% | 3.11% | -3.11% | -1.71% | -5.06% | 12.71% | 19.13% | 26.03% | 31.68% | |||||||
| KLA Corp. | — | — | 35.57% | 35.66% | 35.76% | 33.83% | 33.41% | 31.99% | 29.58% | 28.92% | 28.15% | 27.19% | 27.98% | 30.51% | 32.27% | 33.01% | 33.77% | 33.28% | 36.06% | 36.41% | 36.57% | 36.52% | |||||||
| Lam Research Corp. | — | — | 31.27% | 30.94% | 30.22% | 29.66% | 29.06% | 27.19% | 26.49% | 26.02% | 25.68% | 25.35% | 24.15% | 25.08% | 25.88% | 26.08% | 26.91% | 26.96% | 26.73% | 27.13% | 27.78% | 27.07% | |||||||
| Micron Technology Inc. | — | — | 63.80% | 55.91% | 41.49% | 28.15% | 22.84% | 18.41% | 14.92% | 13.34% | 3.10% | -7.20% | -20.57% | -42.47% | -37.54% | -16.02% | 6.99% | 22.78% | 28.24% | 30.61% | 28.95% | 24.86% | |||||||
| NVIDIA Corp. | 63.66% | 62.97% | 55.60% | 53.01% | 52.41% | 51.69% | 55.85% | 55.69% | 55.04% | 53.40% | 48.85% | 42.09% | 31.59% | 18.52% | 16.19% | 20.85% | 26.03% | 32.02% | 36.23% | 33.81% | 32.33% | 27.66% | |||||||
| Qualcomm Inc. | — | — | — | 21.01% | 22.31% | 11.96% | 12.51% | 26.76% | 26.11% | 25.94% | 26.03% | 23.33% | 23.03% | 21.39% | 20.19% | 22.33% | 25.67% | 27.40% | 29.27% | 30.52% | 28.42% | 27.71% | |||||||
| Texas Instruments Inc. | — | — | — | — | 31.11% | 29.11% | 28.28% | 29.21% | 30.23% | 30.36% | 30.68% | 31.60% | 33.01% | 35.16% | 37.16% | 39.21% | 40.84% | 42.33% | 43.68% | 44.21% | 43.78% | 43.34% | |||||||
Based on: 10-Q (reporting date: 2026-08-01), 10-Q (reporting date: 2026-05-02), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-11-01), 10-Q (reporting date: 2025-08-02), 10-Q (reporting date: 2025-05-03), 10-K (reporting date: 2025-02-01), 10-Q (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01).
1 Q2 2027 Calculation
Net profit margin = 100
× (Net income (loss)Q2 2027
+ Net income (loss)Q1 2027
+ Net income (loss)Q4 2026
+ Net income (loss)Q3 2026)
÷ (Net revenueQ2 2027
+ Net revenueQ1 2027
+ Net revenueQ4 2026
+ Net revenueQ3 2026)
= 100 × (308,000 + 34,500 + 396,100 + 1,901,300)
÷ (2,739,300 + 2,417,800 + 2,218,700 + 2,074,500)
= 27.93%
2 Click competitor name to see calculations.
The net profit margin exhibits a high degree of volatility across the analyzed period, transitioning from a sustained period of negative returns to a significant phase of profitability. While net revenue demonstrated a general upward trajectory—increasing from 832.28 million in May 2021 to 2.74 billion by August 2026—profitability did not scale linearly with revenue growth for the majority of the timeline.
- Phase of Sustained Net Losses (May 2021 – April 2023)
- During this period, the net profit margin remained consistently negative, typically fluctuating between -10.74% and -2.43%. A period of relative improvement was observed between July 2022 and April 2023, where margins narrowed to their least negative levels of the early period, indicating a temporary reduction in the gap between revenue and expenditures.
- Margin Contraction and Peak Losses (October 2023 – November 2024)
- A significant downward trend in profitability occurred starting in late 2023. The net profit margin deteriorated sharply, falling from -10.11% in October 2023 to a period low of -27.49% by November 2, 2024. This decline occurred despite revenue remaining above 1.16 billion, suggesting a substantial increase in costs or one-time charges that heavily outweighed revenue generation.
- Profitability Pivot and Stabilization (February 2025 – August 2026)
- A dramatic reversal in financial performance is evident starting in February 2025. The net profit margin shifted from -15.35% to positive territory, peaking at 32.58% in January 2026. This turnaround was characterized by a massive spike in net income, which reached 1.9 billion in November 2025. Following this peak, the margin stabilized at a high level, maintaining a range between 27.93% and 32.58% through August 2026.
In summary, the financial trajectory is marked by a transition from systemic losses to strong profitability. The correlation between revenue growth and net profit margin became strongly positive only after November 2024, indicating a fundamental shift in the cost structure or a significant increase in operational efficiency that allowed the entity to convert increased revenue into substantial bottom-line growth.
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Return on Equity (ROE)
Marvell Technology Inc., ROE calculation (quarterly data)
| Aug 1, 2026 | May 2, 2026 | Jan 31, 2026 | Nov 1, 2025 | Aug 2, 2025 | May 3, 2025 | Feb 1, 2025 | Nov 2, 2024 | Aug 3, 2024 | May 4, 2024 | Feb 3, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Net income (loss) | 308,000) | 34,500) | 396,100) | 1,901,300) | 194,800) | 177,900) | 200,200) | (676,300) | (193,300) | (215,600) | (392,700) | (164,300) | (207,500) | (168,900) | (15,400) | 13,300) | 4,300) | (165,700) | 6,168) | (62,532) | (276,428) | (88,242) | |||||||
| Stockholders’ equity | 18,531,600) | 18,215,800) | 14,308,400) | 14,056,600) | 13,421,700) | 13,312,700) | 13,427,000) | 13,372,900) | 14,204,900) | 14,478,700) | 14,831,400) | 15,233,400) | 15,389,500) | 15,493,900) | 15,637,200) | 15,559,000) | 15,530,200) | 15,465,000) | 15,702,097) | 15,686,344) | 14,741,197) | 14,855,370) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROE1 | 14.25% | 13.87% | 18.66% | 17.60% | -0.77% | -3.69% | -6.59% | -11.05% | -6.80% | -6.77% | -6.29% | -3.65% | -2.46% | -1.08% | -1.05% | -0.91% | -1.40% | -3.22% | -2.68% | -2.62% | -2.52% | -1.70% | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | — | — | — | 9.57% | 7.77% | 6.88% | 5.44% | 4.75% | 3.85% | 2.85% | 3.20% | 2.39% | 1.99% | 1.53% | 0.38% | -0.05% | 0.72% | 2.41% | 4.17% | 5.67% | 6.13% | |||||||
| Analog Devices Inc. | — | — | — | 12.32% | 9.82% | 8.01% | 6.70% | 5.74% | 5.23% | 4.46% | 4.65% | 4.70% | 6.07% | 7.92% | 9.32% | 10.45% | 10.06% | 9.39% | 7.54% | 5.15% | 4.43% | 3.43% | |||||||
| Applied Materials Inc. | — | — | — | 36.16% | 35.58% | 36.10% | 34.28% | 35.03% | 35.64% | 34.06% | 37.77% | 39.54% | 40.14% | 41.07% | 41.94% | 42.69% | 45.93% | 48.06% | 53.51% | 55.06% | 58.35% | 55.09% | |||||||
| Broadcom Inc. | — | — | — | 38.38% | 33.43% | 31.27% | 28.45% | 25.84% | 18.56% | 14.43% | 8.71% | 7.76% | 14.68% | 16.55% | 58.70% | 63.03% | 62.20% | 54.90% | 50.62% | 48.50% | 42.58% | 34.09% | |||||||
| Intel Corp. | — | — | — | — | -12.90% | -2.85% | -0.23% | 0.19% | -20.95% | -19.24% | -18.89% | -16.04% | 0.85% | 3.84% | 1.60% | -1.61% | -0.91% | -2.91% | 7.90% | 13.32% | 18.88% | 23.87% | |||||||
| KLA Corp. | — | — | 76.08% | 80.11% | 83.39% | 84.99% | 86.56% | 92.27% | 89.51% | 83.33% | 82.00% | 84.34% | 88.92% | 103.76% | 116.01% | 130.76% | 136.01% | 156.01% | 237.04% | 77.19% | 73.76% | 70.61% | |||||||
| Lam Research Corp. | — | — | 58.26% | 63.38% | 61.24% | 57.01% | 54.33% | 48.98% | 48.75% | 47.89% | 44.82% | 45.00% | 42.06% | 49.36% | 54.94% | 58.49% | 61.71% | 65.45% | 73.35% | 75.35% | 70.88% | 73.28% | |||||||
| Micron Technology Inc. | — | — | 61.40% | 50.11% | 33.28% | 20.25% | 15.76% | 12.27% | 9.61% | 8.30% | 1.72% | -3.48% | -8.59% | -16.02% | -13.22% | -6.41% | 3.41% | 12.55% | 17.41% | 20.12% | 18.86% | 16.04% | |||||||
| NVIDIA Corp. | 84.23% | 81.65% | 76.33% | 83.43% | 86.48% | 91.57% | 91.87% | 95.71% | 91.15% | 86.68% | 69.24% | 56.78% | 37.54% | 19.55% | 19.76% | 27.90% | 32.45% | 35.93% | 36.65% | 34.49% | 33.48% | 28.37% | |||||||
| Qualcomm Inc. | — | — | — | 33.48% | 36.38% | 23.25% | 26.13% | 42.55% | 39.82% | 39.27% | 38.60% | 35.31% | 34.27% | 33.67% | 33.51% | 41.68% | 53.52% | 62.58% | 71.81% | 80.15% | 83.73% | 88.12% | |||||||
| Texas Instruments Inc. | — | — | — | — | 33.61% | 31.99% | 30.73% | 30.33% | 30.73% | 29.70% | 28.39% | 28.75% | 30.86% | 34.78% | 38.53% | 42.70% | 48.22% | 54.16% | 60.02% | 61.52% | 60.86% | 58.62% | |||||||
Based on: 10-Q (reporting date: 2026-08-01), 10-Q (reporting date: 2026-05-02), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-11-01), 10-Q (reporting date: 2025-08-02), 10-Q (reporting date: 2025-05-03), 10-K (reporting date: 2025-02-01), 10-Q (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01).
1 Q2 2027 Calculation
ROE = 100
× (Net income (loss)Q2 2027
+ Net income (loss)Q1 2027
+ Net income (loss)Q4 2026
+ Net income (loss)Q3 2026)
÷ Stockholders’ equity
= 100 × (308,000 + 34,500 + 396,100 + 1,901,300)
÷ 18,531,600 = 14.25%
2 Click competitor name to see calculations.
The analyzed period is characterized by a prolonged phase of negative profitability followed by a significant and rapid recovery in return on equity (ROE). For the majority of the timeline from mid-2021 through late 2024, the company operated with negative returns, reflecting a period of sustained net losses relative to the stockholders' equity base.
- Phase of Negative ROE and Performance Decline
- Between May 2021 and January 2023, ROE fluctuated within a narrow negative range, primarily between -0.91% and -3.22%. A marked deterioration occurred starting in April 2023, with ROE declining steadily to a trough of -11.05% by November 2, 2024. This downward trend was driven by widening quarterly net losses, which peaked at US$ 676.3 million during the November 2024 quarter.
- Profitability Reversal and Recovery
- A definitive shift in profitability began in February 2025, as net income returned to positive territory. This transition accelerated sharply in the latter half of 2025, with ROE turning positive in November 2025 at 17.60%. The peak performance occurred during this period, driven by a substantial surge in net income to US$ 1.9 billion, which dramatically improved the efficiency of equity utilization.
- Equity Base Stability and Expansion
- Stockholders' equity remained relatively stable, fluctuating between US$ 13.3 billion and US$ 15.7 billion for the bulk of the period. A notable expansion in the equity base is observed starting in January 2026, with equity rising to US$ 18.5 billion. Despite this increase in the capital base, ROE remained robust, stabilizing between 13.87% and 14.25% through August 2026, indicating that the growth in net income successfully offset the increase in equity.
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Return on Assets (ROA)
Marvell Technology Inc., ROA calculation (quarterly data)
| Aug 1, 2026 | May 2, 2026 | Jan 31, 2026 | Nov 1, 2025 | Aug 2, 2025 | May 3, 2025 | Feb 1, 2025 | Nov 2, 2024 | Aug 3, 2024 | May 4, 2024 | Feb 3, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Net income (loss) | 308,000) | 34,500) | 396,100) | 1,901,300) | 194,800) | 177,900) | 200,200) | (676,300) | (193,300) | (215,600) | (392,700) | (164,300) | (207,500) | (168,900) | (15,400) | 13,300) | 4,300) | (165,700) | 6,168) | (62,532) | (276,428) | (88,242) | |||||||
| Total assets | 27,554,600) | 26,944,500) | 22,285,300) | 21,579,000) | 20,586,300) | 20,023,700) | 20,204,500) | 19,715,600) | 20,293,400) | 20,491,000) | 21,228,500) | 21,714,400) | 21,750,100) | 22,273,200) | 22,522,100) | 22,522,100) | 22,162,100) | 22,038,700) | 22,108,597) | 22,018,842) | 20,838,632) | 21,229,937) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROA1 | 9.58% | 9.38% | 11.98% | 11.47% | -0.50% | -2.45% | -4.38% | -7.50% | -4.76% | -4.78% | -4.40% | -2.56% | -1.74% | -0.75% | -0.73% | -0.63% | -0.98% | -2.26% | -1.90% | -1.87% | -1.78% | -1.19% | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | — | — | — | 7.62% | 6.29% | 5.64% | 4.30% | 3.79% | 3.11% | 2.37% | 2.62% | 1.99% | 1.64% | 1.26% | 0.31% | -0.04% | 0.58% | 1.95% | 3.35% | 4.64% | 5.07% | |||||||
| Analog Devices Inc. | — | — | — | 8.54% | 6.91% | 5.64% | 4.72% | 4.06% | 3.87% | 3.26% | 3.39% | 3.41% | 4.38% | 5.82% | 6.79% | 7.60% | 7.32% | 6.83% | 5.46% | 3.75% | 3.23% | 2.50% | |||||||
| Applied Materials Inc. | — | — | — | 21.29% | 21.12% | 20.82% | 19.28% | 19.97% | 20.09% | 19.03% | 20.86% | 22.14% | 22.86% | 22.69% | 22.31% | 21.19% | 22.31% | 23.07% | 24.41% | 25.40% | 26.54% | 25.76% | |||||||
| Broadcom Inc. | — | — | — | 20.34% | 16.36% | 14.70% | 13.52% | 11.43% | 7.85% | 6.09% | 3.56% | 3.03% | 5.86% | 6.54% | 19.33% | 19.44% | 19.10% | 17.54% | 15.69% | 14.20% | 12.45% | 10.69% | |||||||
| Intel Corp. | — | — | — | — | -5.58% | -1.55% | -0.13% | 0.10% | -10.65% | -9.99% | -9.55% | -8.25% | 0.47% | 2.11% | 0.88% | -0.87% | -0.50% | -1.54% | 4.40% | 7.61% | 11.21% | 13.96% | |||||||
| KLA Corp. | — | — | 26.91% | 27.68% | 27.26% | 25.96% | 25.28% | 24.33% | 21.39% | 18.92% | 17.90% | 17.45% | 18.95% | 21.95% | 24.07% | 25.64% | 25.79% | 24.99% | 26.37% | 26.21% | 25.57% | 24.46% | |||||||
| Lam Research Corp. | — | — | 30.88% | 32.26% | 29.05% | 26.53% | 25.10% | 23.33% | 21.64% | 20.77% | 20.42% | 19.75% | 18.41% | 21.43% | 24.02% | 25.55% | 26.68% | 25.91% | 26.78% | 27.37% | 27.51% | 27.40% | |||||||
| Micron Technology Inc. | — | — | 43.38% | 37.63% | 23.75% | 13.85% | 10.31% | 7.94% | 6.40% | 5.43% | 1.12% | -2.32% | -5.73% | -10.78% | -9.08% | -4.43% | 2.42% | 9.11% | 13.11% | 15.18% | 14.17% | 12.02% | |||||||
| NVIDIA Corp. | 60.22% | 61.51% | 58.06% | 61.56% | 61.53% | 61.29% | 65.30% | 65.69% | 62.20% | 55.27% | 45.28% | 34.88% | 20.84% | 10.78% | 10.61% | 14.71% | 17.80% | 20.92% | 22.07% | 20.20% | 18.32% | 17.30% | |||||||
| Qualcomm Inc. | — | — | — | 16.14% | 17.37% | 10.12% | 11.05% | 21.10% | 19.94% | 18.99% | 18.39% | 16.52% | 15.77% | 14.89% | 14.17% | 17.58% | 21.80% | 23.54% | 26.39% | 27.35% | 25.19% | 23.32% | |||||||
| Texas Instruments Inc. | — | — | — | — | 16.87% | 15.60% | 14.46% | 14.41% | 14.43% | 14.44% | 13.51% | 14.06% | 15.16% | 16.93% | 20.12% | 22.44% | 24.85% | 28.25% | 32.16% | 34.25% | 34.69% | 32.51% | |||||||
Based on: 10-Q (reporting date: 2026-08-01), 10-Q (reporting date: 2026-05-02), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-11-01), 10-Q (reporting date: 2025-08-02), 10-Q (reporting date: 2025-05-03), 10-K (reporting date: 2025-02-01), 10-Q (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01).
1 Q2 2027 Calculation
ROA = 100
× (Net income (loss)Q2 2027
+ Net income (loss)Q1 2027
+ Net income (loss)Q4 2026
+ Net income (loss)Q3 2026)
÷ Total assets
= 100 × (308,000 + 34,500 + 396,100 + 1,901,300)
÷ 27,554,600 = 9.58%
2 Click competitor name to see calculations.
The analysis of Return on Assets (ROA) reveals a distinct three-phase trajectory characterized by an initial period of marginal instability, a significant deepening of losses, and a subsequent sharp recovery toward strong profitability.
- Initial Volatility and Marginal Losses (May 2021 – October 2022)
- During this period, the company experienced inconsistent net income results, with ROA fluctuating between -0.63% and -2.26%. While total assets remained relatively stable, hovering between $20.8 billion and $22.5 billion, the inability to maintain positive net income resulted in a consistently negative return on the asset base.
- Profitability Deterioration (January 2023 – November 2024)
- A downward trend in profitability is observed starting in early 2023. Net losses widened substantially, culminating in a quarterly loss of $676.3 million in November 2024. This decline in earnings, occurring while total assets slightly contracted to a low of $19.7 billion, led to a severe compression of ROA, which reached a nadir of -7.50% in November 2024.
- Recovery and Positive Inflection (February 2025 – August 2026)
- A significant turnaround occurred in February 2025, marking the transition back to positive net income. This recovery accelerated sharply on November 1, 2025, with net income surging to $1.9 billion, driving ROA to 11.47%. Although there was a slight subsequent moderation, ROA remained robust, peaking at 11.98% in January 2026 and stabilizing between 9.38% and 9.58% through August 2026.
- Asset Base Expansion and Efficiency
- The latter part of the analyzed period shows a correlation between an expanding asset base and increased profitability. Total assets grew from approximately $20.2 billion in early 2025 to $27.5 billion by August 2026. The simultaneous increase in both total assets and net income indicates an improvement in operational efficiency and a successful deployment of capital to generate positive returns.
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