MXLNasdaqSemiconductors & Related DevicesFiscal year ends December 31
MAXLINEAR, INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 22, 2026
$77.11+5.79 (+8.12%)
Close on Oct 19, 2026
- Market cap
- $7.51B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
56.8%+12.4 pts over 5 years
Operating margin
-27.1%−6.0 pts over 5 years
Net margin
-29.2%−8.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +29.7% | -25.3% | -0.5% | +4.5% | |
| Gross profit | +36.5% | -25.8% | +4.5% | +5.5% | |
| Free cash flow | – | -72.8% | -35.1% | -18.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 19.9% | -24.5% | -28.2% | |
| Return on assets | 16.2% | -11.4% | -16.5% | |
| Current ratio | 3.90 | 1.55 | 1.34 | |
| Debt to equity | 0.00 | 0.93 | 0.27 | |
| Net debt to EBITDA | -0.92× | -8.67× | -0.61× | |
| Interest coverage | 606.3× | -7.8× | -12.6× | |
| Inventory turnover | 5.3× | 4.1× | 2.4× | |
| Capex to revenue | 2.2% | 2.6% | 2.7% | |
| Diluted shares | 68M | 73M | 87M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Maxlinear generated $665.25M from operations and spent $199.22M on capital expenditure, dividends and share buybacks. 62% of that went back into the business.
Generated
$665.25M
Used
$199.22M
Capital expenditure$124.16M62%Dividends$00%Share buybacks$75.06M38%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-29.2%
×Asset turnover0.56×
×Equity multiplier1.72×
=Return on equity, FY2025-28.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -29.2% | 0.56× | 1.72× | -28.2% |
| FY2024 | -68.0% | 0.37× | 1.62× | -40.8% |
| FY2023 | -10.6% | 0.61× | 1.66× | -10.7% |
| FY2022 | 11.2% | 1.00× | 1.91× | 21.5% |
| FY2021 | 4.7% | 0.86× | 2.35× | 9.5% |
| FY2020 | -20.6% | 0.55× | 2.14× | -24.5% |
| FY2019 | -6.3% | 0.44× | 1.78× | -4.9% |
| FY2018 | -6.8% | 0.49× | 1.99× | -6.7% |
| FY2017 | -2.2% | 0.67× | 1.69× | -2.5% |
| FY2016 | 15.8% | 1.02× | 1.23× | 19.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$136.68M
- Cash generatingOperating cash flow above zero$19.62M
- Return on assets improvedROA up on the prior year-22.7% → -15.8%
- Earnings backed by cashOperating cash flow above net income$19.62M vs -$136.68M
- Less leverageLong-term debt to assets fell14.2% → 15.5%
- Better liquidityCurrent ratio rose1.77 → 1.34
- No dilutionShare count did not rise84M → 87M
- Gross margin improvedGross margin up on the prior year54.03% → 56.84%
- More efficientAsset turnover rose0.33 → 0.54