Does Marvell Technology, Inc. have an economic moat?

Based on its FY2026 SEC filings, the Moat Index scores Marvell Technology, Inc. (MRVL) 40.4 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 78, returns on capital 0, balance-sheet safety 47, capital discipline 38.

How has MRVL's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 40.4 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

Marvell Technology, Inc.

MRVL · Technology · $159.9B mkt cap · FY2026 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power78

Median gross margin 50.1% over 7y, stable.

Returns on capital0

Median ROIC -2.2%, above the 9% hurdle in 0% of years.

Balance-sheet safety47

Net debt/EBITDA 1.4x, interest coverage 7x.

Capital discipline38

Owner earnings +5.7%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): —
Est. intrinsic value / share: —
Recent price: $188.68
Discount to value: No price data

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

8 years of fundamentals

The business, in plain English

Marvell Technology, Inc. booked $8.2B of revenue in FY2026 in the Technology sector and kept 51.0% of it as gross profit — a solid-margin business by that measure. After every other cost, 32.6% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $2.7B (FY2020) to $8.2B (FY2026) — about 20.3% a year compounded over 6 years.

It earned 7.2% on invested capital in FY2026, with a median of −2.2% across 7 filed years. The Returns on Capital filter above scores it 0/100.

The balance sheet carried $4.5B of total debt in FY2026 against $2.3B of owner earnings — roughly 1.9 years of owner earnings to retire it all. Balance-Sheet Safety scores it 47/100.

The share count rose 25.5% between FY2021 and FY2026 — existing owners have been diluted over the record. Capital Discipline scores it 38/100.

Put together: Pricing Power is the strongest of the four filters (78/100) and Returns on Capital the weakest (0/100), which is how MRVL lands at 40/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$8.2B FY2026

Gross marginRevenue kept after cost of goods51.0% FY2026

Return on invested capitalOperating profit on the capital employed7.2% FY2026

Owner earningsCash an owner could take out$2.3B FY2026

Gaps in a line mean that item isn’t in MRVL’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale40.4 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — MRVL has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Technology context

#312 of 532 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

#310CNXC CONCENTRIX CORPORATION40.6 out of 100, Shallow moatShallow moat
#311FLUT Flutter Entertainment plc40.5 out of 100, Shallow moatShallow moat
#313MDB MONGODB, INC.40.3 out of 100, Shallow moatShallow moat
#314CMRC Commerce.com, Inc.40.3 out of 100, Shallow moatShallow moat

Compare MRVL with its nearest peers →All Technology companies on the Index →

Common questions about MRVL

Does Marvell Technology, Inc. have an economic moat?: Based on its FY2026 SEC filings, the Moat Index scores Marvell Technology, Inc. (MRVL) 40.4 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 78, returns on capital 0, balance-sheet safety 47, capital discipline 38.
How has MRVL's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 40.4 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell MRVL. See the disclaimer.