Marvell Technology, Inc. (MRVL) Income Statement
MRVL FY2026 at a glance
Fiscal year ended January 31, 2026 · U.S. dollarsMRVL revenue and net income
Where MRVL's revenue goes
FY2026Each bar shows an amount and its share of revenue. MRVL kept 32.6% of revenue as net income.
MRVL profit margins
MRVL growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +42.1% | +11.4% | +22.5% | +12.0% |
| Gross profit | +75.5% | +11.9% | +22.9% | +12.5% |
| Operating income | — | +77.8% | — | +49.3% |
| Net income | — | — | — | — |
| EPS (diluted) | +81.5% | +10.4% | +25.1% | +21.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MRVL quarterly EPS vs estimates
Marvell beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: December 1, 2026 (estimate $0.79).
MRVL income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.19B | $5.77B | $5.51B | $5.92B | $4.46B | $2.97B | $2.70B | $2.87B | $2.41B | $2.30B |
| Cost of revenue | $4.01B | $3.39B | $3.21B | $2.93B | $2.40B | $1.48B | $1.34B | $1.41B | $947.2M | $1.01B |
| Gross profit | $4.18B | $2.38B | $2.29B | $2.99B | $2.06B | $1.49B | $1.36B | $1.46B | $1.46B | $1.29B |
| Research & development | $2.08B | $1.95B | $1.90B | $1.78B | $1.42B | $1.07B | $1.08B | $914.0M | $720.2M | $806.2M |
| Sales, general & admin | $767.1M | $798.2M | $834.0M | $843.6M | $955.2M | $467.2M | $464.6M | $96.5M | $238.9M | $181.4M |
| Total operating expenses | $2.86B | $3.10B | $2.86B | $2.75B | $2.41B | $1.75B | $1.54B | $1.28B | $959.7M | $1.06B |
| Operating income | $1.34B | −$720.3M | −$567.7M | $238.0M | −$347.7M | −$258.4M | −$182.7M | $173.7M | $502.2M | $232.0M |
| Interest income | $1.93B | $15.0M | $8.8M | $5.3M | $750,000 | $2.6M | $4.8M | $11.9M | $17.4M | $13.2M |
| Interest expense | $202.6M | $189.4M | $211.7M | $170.6M | $139.3M | $69.3M | $85.6M | $60.4M | $685,000 | $368,000 |
| Income before taxes | $3.05B | −$894.7M | −$758.7M | $85.1M | −$483.5M | −$322.2M | $798.4M | −$4.6M | $451.2M | $147.4M |
| Income taxes | $376.5M | −$9.7M | $174.7M | $248.6M | −$62.5M | −$44.9M | −$786.0M | $174.4M | $18.1M | $72.6M |
| Net income | $2.67B | −$885.0M | −$933.4M | −$163.5M | −$421.0M | −$277.3M | $1.58B | −$179.1M | $432.4M | $21.2M |
| EBITDA | $4.54B | $651.6M | $850.7M | $1.65B | $901.1M | $388.6M | $1.41B | $363.0M | $538.9M | $266.3M |
| EPS (diluted) | $2.85 | $1.57 | $1.51 | $2.12 | $1.56 | $0.93 | $0.66 | $1.18 | $1.20 | $0.61 |
| Gross margin | 51.0% | 41.3% | 41.6% | 50.5% | 46.3% | 50.1% | 50.3% | 50.9% | 60.7% | 56.0% |
| Operating margin | 16.3% | −12.5% | −10.3% | 4.0% | −7.8% | −8.7% | −6.8% | 6.1% | 20.8% | 10.1% |
| Net margin | 32.6% | −15.3% | −16.9% | −2.8% | −9.4% | −9.3% | 58.7% | −6.2% | 17.9% | 0.9% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.74B | $2.42B | $2.22B | $2.07B | $2.01B | $1.90B | $1.82B | $1.52B | $1.27B | $1.16B | $1.43B | $1.42B |
| Cost of revenue | $1.28B | $1.16B | $1.15B | $1.00B | $995.5M | $942.9M | $900.0M | $1.17B | $685.3M | $633.1M | $762.4M | $867.4M |
| Gross profit | $1.46B | $1.26B | $1.07B | $1.07B | $1.01B | $952.4M | $917.4M | $349.4M | $587.6M | $527.8M | $664.1M | $551.2M |
| Research & development | $741.1M | $652.3M | $536.0M | $512.5M | $519.0M | $507.7M | $499.0M | $488.6M | $486.7M | $476.1M | $459.6M | $481.1M |
| Sales, general & admin | $257.6M | $258.4M | $198.0M | $189.9M | $192.8M | $186.4M | $195.7M | $205.3M | $197.3M | $199.9M | $212.0M | $213.0M |
| Total operating expenses | $998.7M | $910.7M | $659.2M | $712.0M | $720.5M | $681.8M | $682.2M | $1.05B | $688.0M | $680.1M | $697.4M | $697.5M |
| Operating income | $456.9M | $350.1M | $413.9M | $357.8M | $290.1M | $270.6M | $235.2M | −$702.8M | −$100.4M | −$152.3M | −$33.3M | −$146.3M |
| Interest income | — | — | $28.0M | $1.91B | — | — | $9.6M | — | $2.6M | $3.3M | $3.0M | $1.7M |
| Interest expense | $61.6M | $52.8M | $50.8M | $51.2M | $56.4M | $54.7M | $45.0M | $47.7M | $48.4M | $48.8M | $52.6M | $52.6M |
| Income before taxes | $378.3M | $83.3M | $381.6M | $2.22B | $233.7M | $215.9M | $199.8M | −$750.5M | −$146.2M | −$197.8M | −$87.3M | −$187.5M |
| Income taxes | $70.3M | $48.8M | −$14.5M | $314.1M | $38.9M | $38.0M | −$400,000 | −$74.2M | $47.1M | $17.8M | $305.4M | −$23.2M |
| Net income | $308.0M | $34.5M | $396.1M | $1.90B | $194.8M | $177.9M | $200.2M | −$676.3M | −$193.3M | −$215.6M | −$392.7M | −$164.3M |
| EBITDA | $764.9M | $660.0M | $749.4M | $2.58B | $626.6M | $588.2M | $570.7M | −$361.3M | $254.2M | $188.5M | $325.4M | $207.0M |
| EPS (diluted) | $0.62 | $0.80 | $0.80 | $0.76 | $0.67 | $0.62 | $0.60 | $0.43 | $0.30 | $0.24 | $0.46 | $0.41 |
| Gross margin | 53.1% | 52.1% | 48.4% | 51.6% | 50.4% | 50.3% | 50.5% | 23.0% | 46.2% | 45.5% | 46.6% | 38.9% |
| Operating margin | 16.7% | 14.5% | 18.7% | 17.2% | 14.5% | 14.3% | 12.9% | −46.4% | −7.9% | −13.1% | −2.3% | −10.3% |
| Net margin | 11.2% | 1.4% | 17.9% | 91.7% | 9.7% | 9.4% | 11.0% | −44.6% | −15.2% | −18.6% | −27.5% | −11.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MRVL's financial statements (latest annual report filed March 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MRVL financial results
In fiscal year 2026 (ended January 31, 2026), Marvell reported revenue of $8.2 billion, up 42.1% from the year before. It had net income of $2.7 billion, a net profit margin of 32.6%. Diluted earnings per share came to $2.85. Over five years revenue grew at an average rate of 22.5% a year.
See the MRVL stock overview for the latest quote and news, or the MRVL chart for price history and technical indicators.
MRVL income statement FAQ
What is Marvell's annual revenue?
Marvell reported total revenue of $8.2 billion for fiscal year 2026, which ended on January 31, 2026. That was up 42.1% from $5.8 billion the previous year.
Is Marvell profitable?
Yes. Marvell reported net income of $2.7 billion in fiscal 2026, a net profit margin of 32.6%; its operating margin was 16.3%.
What is Marvell's gross margin?
Marvell's gross margin was 51.0% in fiscal 2026: for every $100 of revenue, Marvell kept $51 after the direct cost of its products and services.
How much does Marvell spend on research and development?
Marvell spent $2.1 billion on research and development in fiscal 2026, 25.3% of revenue.
How fast is Marvell growing?
Revenue grew 22.5% a year on average over the last five fiscal years, from $3.0 billion to $8.2 billion.
What are Marvell's earnings per share?
Marvell earned $2.85 per diluted share in fiscal 2026, compared with $1.57 a year earlier.
When will Marvell report its next earnings?
Marvell is expected to report results for the quarter ending October 31, 2026 on December 1, 2026 after the market closes.
When does Marvell's fiscal year end?
Marvell's fiscal year ends in January. The latest annual report covers the year ended January 31, 2026 and was filed on March 11, 2026.