MaxLinear (MXL) Financials

$15.21 -0.61 (-3.86%)

Closing price 08/1/2025 04:00 PM Eastern

Extended Trading

$15.24 +0.02 (+0.16%)

As of 08/1/2025 07:23 PM Eastern

Annual Income Statements for MaxLinear

This table shows MaxLinear's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-7.04	-42	61	-9.19	-26	-20	-99	42	125	-73	-245
Consolidated Net Income / (Loss)	-7.04	-20	61	-9.19	-26	-20	-99	42	125	-73	-245
Net Income / (Loss) Continuing Operations	-7.04	-20	61	-9.19	-26	-20	-99	42	125	-73	-245
Total Pre-Tax Income	-8.75	-43	64	-34	-33	-32	-115	48	174	-64	-239
Total Operating Income	-8.86	-44	63	-22	-19	-22	-101	65	180	-38	-223
Total Gross Profit	82	155	230	208	209	168	213	496	650	386	195
Total Revenue	133	300	388	420	385	317	479	892	1,120	693	361
Operating Revenue	133	300	388	420	385	317	479	892	1,120	693	361
Total Cost of Revenue	51	145	158	212	176	149	266	397	470	308	166
Operating Cost of Revenue	51	145	158	212	176	149	266	397	470	308	166
Total Operating Expenses	91	199	167	230	228	190	314	431	470	424	418
Selling, General & Admin Expense	34	78	64	106	102	89	130	150	168	132	138
Research & Development Expense	57	85	98	112	120	98	180	278	296	270	225
Impairment Charge	0.00	0.00	1.30	2.00	2.20	0.00	0.09	0.00	2.81	2.44	1.24
Restructuring Charge	0.00	14	3.43	9.52	3.84	2.64	3.83	2.20	2.27	20	53
Total Other Income / (Expense), net	0.11	1.49	0.63	-12	-14	-10	-14	-17	-6.05	-26	-15
Interest Expense	-	0.10	0.10	10	14	11	13	18	9.77	11	11
Interest & Investment Income	0.24	0.28	0.57	0.27	0.08	0.78	0.41	0.08	0.25	6.05	6.39
Other Income / (Expense), net	-0.12	1.31	0.16	-2.22	0.42	-0.07	-1.17	0.76	3.48	-21	-11
Income Tax Expense	-1.70	-0.58	2.40	-25	-6.65	-13	-16	5.90	49	9.34	6.48
Basic Earnings per Share	($0.19)	($0.79)	$0.96	($0.14)	($0.38)	($0.28)	($1.35)	$0.55	$1.60	($0.91)	($2.93)
Weighted Average Basic Shares Outstanding	36.47M	53.38M	63.78M	66.25M	68.49M	71.01M	73.13M	76.04M	78.04M	80.72M	83.60M
Diluted Earnings per Share	($0.19)	($0.79)	$0.91	($0.14)	($0.38)	($0.28)	($1.35)	$0.53	$1.55	($0.91)	($2.93)
Weighted Average Diluted Shares Outstanding	36.47M	53.38M	67.65M	66.25M	68.49M	71.01M	73.13M	79.68M	80.85M	80.72M	83.60M
Weighted Average Basic & Diluted Shares Outstanding	37.10M	53.60M	63.80M	65.60M	71.95M	71.95M	74.54M	76.78M	78.75M	81.93M	84.63M

This table shows MaxLinear's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	31	9.53	-4.35	-40	-39	-72	-39	-76	-58	-50	-27
Consolidated Net Income / (Loss)	31	9.53	-4.35	-40	-39	-72	-39	-76	-58	-50	-27
Net Income / (Loss) Continuing Operations	31	9.53	-4.35	-40	-39	-72	-39	-76	-58	-50	-27
Total Pre-Tax Income	41	25	-4.76	-42	-43	-74	-41	-82	-41	-49	-31
Total Operating Income	41	27	-5.94	-18	-42	-75	-41	-67	-41	-46	-25
Total Gross Profit	163	140	103	74	69	49	50	44	51	54	62
Total Revenue	291	248	184	136	125	95	92	81	92	96	109
Operating Revenue	291	248	184	136	125	95	92	81	92	96	109
Total Cost of Revenue	127	108	81	62	57	46	42	37	41	42	47
Operating Cost of Revenue	127	108	81	62	57	46	42	37	41	42	47
Total Operating Expenses	122	113	109	92	110	124	91	111	92	100	86
Selling, General & Admin Expense	44	39	34	25	34	36	34	30	38	37	33
Research & Development Expense	74	67	71	66	65	65	57	53	51	55	47
Restructuring Charge	1.17	4.65	4.44	0.05	11	23	0.87	27	3.06	7.88	5.58
Total Other Income / (Expense), net	-0.45	-2.18	1.18	-24	-0.89	0.55	-0.51	-16	0.35	-2.91	-6.09
Interest Expense	2.29	2.49	2.59	2.72	2.91	2.71	2.71	2.66	2.80	2.50	2.51
Interest & Investment Income	0.07	0.63	1.90	1.74	1.78	1.82	1.87	1.65	1.04	0.86	0.81
Other Income / (Expense), net	1.77	-0.32	1.87	-23	0.24	1.43	0.33	-15	2.11	-1.27	-4.39
Income Tax Expense	9.63	16	-0.41	-1.69	-4.13	-1.76	-2.06	-6.71	17	0.71	-4.12
Basic Earnings per Share	$0.39	$0.12	($0.05)	($0.49)	($0.49)	($0.88)	($0.47)	($0.90)	($0.68)	($0.58)	($0.31)
Weighted Average Basic Shares Outstanding	78.04M	79.47M	80.45M	81.25M	80.72M	82.35M	83.48M	84.07M	83.60M	85.27M	86.63M
Diluted Earnings per Share	$0.38	$0.12	($0.05)	($0.49)	($0.49)	($0.88)	($0.47)	($0.90)	($0.68)	($0.58)	($0.31)
Weighted Average Diluted Shares Outstanding	80.85M	81.34M	80.45M	81.25M	80.72M	82.35M	83.48M	84.07M	83.60M	85.27M	86.63M
Weighted Average Basic & Diluted Shares Outstanding	78.75M	79.98M	81.02M	81.56M	81.93M	83.13M	83.90M	84.36M	84.63M	86.37M	87.08M

This table details how cash moves in and out of MaxLinear's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-5.75	47	15	-8.48	-0.22	19	57	-18	57	-0.00	-69
Net Cash From Operating Activities	12	55	117	75	103	78	74	168	389	43	-45
Net Cash From Continuing Operating Activities	12	55	117	75	103	78	74	168	389	43	-45
Net Income / (Loss) Continuing Operations	-7.04	-42	61	-9.19	-26	-20	-99	42	125	-73	-245
Consolidated Net Income / (Loss)	-7.04	-42	61	-9.19	-26	-20	-99	42	125	-73	-245
Depreciation Expense	5.11	41	27	67	79	66	77	92	81	72	54
Amortization Expense	0.72	15	5.81	26	1.15	1.58	2.20	3.00	1.98	2.56	2.54
Non-Cash Adjustments To Reconcile Net Income	15	50	15	27	32	24	77	59	71	62	79
Changes in Operating Assets and Liabilities, net	-1.59	-7.94	8.16	-36	17	6.32	16	-28	109	-20	65
Net Cash From Investing Activities	-17	-11	-101	-432	-7.83	-6.97	-175	-92	-92	-16	-23
Net Cash From Continuing Investing Activities	-17	-11	-101	-432	-7.83	-6.97	-175	-92	-92	-16	-23
Purchase of Property, Plant & Equipment	-8.80	-3.00	-8.51	-7.47	-7.83	-6.89	-12	-39	-41	-13	-18
Acquisitions	-9.14	-3.72	-101	-479	0.00	-0.09	-163	-48	-11	-20	-5.77
Purchase of Investments	-57	-73	-90	-31	0.00	0.00	0.00	-5.00	-29	0.00	0.00
Sale and/or Maturity of Investments	57	69	99	85	0.00	-	-	0.00	0.00	17	0.00
Other Investing Activities, net	-	-	-	-	-	-	0.00	0.00	-10	0.00	0.00
Net Cash From Financing Activities	-0.51	4.00	-0.67	347	-94	-53	160	-92	-240	-26	1.29
Net Cash From Continuing Financing Activities	-0.51	4.00	-0.67	347	-94	-53	160	-92	-240	-26	1.29
Repayment of Debt	-	0.00	0.00	-70	-93	-50	-20	-414	-185	-18	0.00
Repurchase of Common Equity	0.00	-0.81	-0.00	-0.33	0.00	0.00	0.00	-24	-32	0.00	0.00
Issuance of Common Equity	3.30	9.95	6.65	12	6.84	8.60	8.07	8.78	5.01	4.56	4.09
Other Financing Activities, net	-3.81	-5.14	-7.32	-12	-7.62	-12	-3.54	-13	-29	-13	-2.81
Effect of Exchange Rate Changes	-0.02	-0.73	-0.39	1.58	-1.30	0.93	-1.04	-2.87	0.06	-1.08	-1.30
Cash Interest Paid	-	0.00	0.00	8.84	14	11	11	11	9.08	9.48	9.74
Cash Income Taxes Paid	0.19	0.04	1.58	9.44	5.43	4.42	2.82	3.84	24	29	8.19

This table details how cash moves in and out of MaxLinear's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	5.86	20	17	-37	0.20	4.57	-6.79	-37	-30	-16	6.19
Net Cash From Operating Activities	69	42	31	-13	-17	16	-2.70	-31	-28	-11	10
Net Cash From Continuing Operating Activities	69	42	31	-13	-17	16	-2.70	-31	-28	-11	10
Net Income / (Loss) Continuing Operations	31	9.53	-4.35	-40	-39	-72	-39	-76	-58	-50	-27
Consolidated Net Income / (Loss)	31	9.53	-4.35	-40	-39	-72	-39	-76	-58	-50	-27
Depreciation Expense	19	19	19	17	17	17	14	12	12	11	11
Amortization Expense	0.51	0.55	0.63	0.69	0.70	0.69	0.67	0.64	0.55	0.51	0.49
Non-Cash Adjustments To Reconcile Net Income	33	16	19	1.87	25	17	9.80	27	22	23	12
Changes in Operating Assets and Liabilities, net	-14	-2.66	-3.89	7.47	-21	54	13	4.84	-4.34	3.82	13
Net Cash From Investing Activities	-17	-16	-13	-2.60	15	-8.71	-5.79	-5.95	-3.00	-1.99	-7.38
Net Cash From Continuing Investing Activities	-17	-16	-13	-2.60	15	-8.71	-5.79	-5.95	-3.00	-1.99	-7.38
Purchase of Property, Plant & Equipment	-17	-5.22	-5.04	-1.93	-1.27	-8.34	-3.01	-4.13	-2.19	-1.99	-1.17
Acquisitions	-0.74	-10	-7.61	-0.67	-1.10	-0.37	-2.78	-1.82	-0.81	0.00	-6.21
Net Cash From Financing Activities	-49	-6.17	0.11	-21	1.17	-2.10	2.03	-0.06	1.42	-2.14	2.08
Net Cash From Continuing Financing Activities	-49	-6.17	0.11	-21	1.17	-2.10	2.03	-0.06	1.42	-2.14	2.08
Issuance of Common Equity	1.79	0.00	3.07	0.09	1.39	0.00	1.58	-	2.51	-0.01	2.15
Other Financing Activities, net	-0.37	-6.17	-2.97	-3.23	-0.22	-2.10	0.45	-0.06	-1.09	-2.13	-0.07
Effect of Exchange Rate Changes	2.46	0.00	-1.23	-0.63	0.78	-0.58	-0.34	0.09	-0.47	-0.01	1.00
Cash Interest Paid	2.16	2.16	2.34	2.48	2.50	2.48	2.47	2.49	2.30	2.15	2.18
Cash Income Taxes Paid	9.75	3.34	11	11	3.31	1.36	2.06	6.05	-1.28	1.23	1.77

This table presents MaxLinear's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	136	335	423	825	744	706	1,022	1,050	1,180	1,080	865
Total Current Assets	101	190	213	201	185	182	362	404	563	488	323
Cash & Equivalents	21	68	81	72	73	93	149	131	187	187	119
Restricted Cash	-	-	0.61	1.48	0.65	0.35	0.12	0.11	0.98	1.05	1.00
Accounts Receivable	19	42	50	66	59	50	67	120	171	171	85
Inventories, net	11	32	27	53	42	32	98	132	161	100	90
Prepaid Expenses	2.44	3.90	6.16	8.42	10	6.79	47	22	25	29	28
Plant, Property, & Equipment, net	12	22	21	23	18	17	39	61	79	66	59
Total Noncurrent Assets	25	123	189	601	540	507	621	585	538	526	482
Goodwill	1.20	50	76	238	238	238	303	307	307	319	319
Intangible Assets	13	51	104	315	245	188	207	153	109	74	55
Noncurrent Deferred & Refundable Income Taxes	-	-	0.12	40	52	67	86	89	66	69	69
Other Noncurrent Operating Assets	0.51	2.27	1.68	6.92	4.66	14	24	36	55	64	40
Other Noncurrent Nonoperating Assets	-	-	1.20	1.06	0.40	0.06	1.02	1.06	0.02	0.02	0.03
Total Liabilities & Shareholders' Equity	136	335	423	825	744	706	1,022	1,050	1,180	1,080	865
Total Liabilities	37	72	70	437	344	291	631	561	504	394	348
Total Current Liabilities	33	56	55	76	75	67	234	207	341	222	182
Accounts Payable	7.51	6.39	6.76	17	16	13	33	53	69	22	31
Accrued Expenses	16	35	32	42	45	44	154	98	213	170	131
Current Employee Benefit Liabilities	6.56	9.98	10	13	15	9.39	47	57	59	30	20
Total Noncurrent Liabilities	3.36	16	16	361	268	224	398	354	163	172	166
Long-Term Debt	-	-	0.00	348	256	207	364	306	122	122	123
Other Noncurrent Operating Liabilities	1.19	4.32	6.03	8.56	13	17	34	48	41	49	43
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	99	263	352	387	400	415	391	489	676	686	516
Total Preferred & Common Equity	99	263	352	387	400	415	391	489	676	686	516
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	99	263	352	387	400	415	391	489	676	686	516
Common Stock	178	385	414	456	493	530	602	657	723	809	887
Retained Earnings	-79	-121	-60	-69	-94	-114	-212	-170	-45	-119	-364
Accumulated Other Comprehensive Income / (Loss)	-0.03	-0.82	-1.56	1.04	0.27	-0.89	1.44	2.13	-1.02	-3.79	-6.82

This table presents MaxLinear's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	1,181	1,183	1,198	1,161	1,104	1,031	973	895	855	864
Total Current Assets	539	563	594	554	509	445	398	328	320	330
Cash & Equivalents	211	181	208	225	187	192	185	148	103	109
Restricted Cash	0.16	0.97	0.96	1.04	1.11	1.03	1.01	0.99	1.27	0.00
Accounts Receivable	137	178	189	156	158	126	85	48	99	106
Inventories, net	146	166	150	126	115	96	95	96	86	86
Prepaid Expenses	20	18	28	26	33	29	32	35	31	30
Plant, Property, & Equipment, net	64	67	78	74	69	68	65	63	56	51
Total Noncurrent Assets	578	553	527	533	526	518	510	504	479	482
Goodwill	307	307	319	318	318	319	319	319	319	319
Intangible Assets	128	122	96	91	83	65	62	58	52	54
Noncurrent Deferred & Refundable Income Taxes	82	66	58	57	59	72	74	83	69	75
Other Noncurrent Operating Assets	61	58	54	67	65	62	56	44	40	33
Other Noncurrent Nonoperating Assets	0.89	0.03	0.02	0.02	0.02	0.02	0.02	0.02	0.03	1.64
Total Liabilities & Shareholders' Equity	1,181	1,183	1,198	1,161	1,104	1,031	973	895	855	864
Total Liabilities	611	567	464	415	401	393	356	338	362	375
Total Current Liabilities	316	351	300	242	233	224	190	169	197	213
Accounts Payable	73	91	55	46	45	32	36	31	18	27
Accrued Expenses	204	211	217	171	158	163	133	116	155	160
Current Employee Benefit Liabilities	39	49	29	25	30	28	22	22	24	27
Total Noncurrent Liabilities	295	215	164	174	168	169	166	170	165	162
Long-Term Debt	246	172	122	122	122	123	123	123	123	123
Other Noncurrent Operating Liabilities	49	44	42	52	46	46	43	47	42	39
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	570	616	734	746	703	638	617	557	493	488
Total Preferred & Common Equity	570	616	734	746	703	638	617	557	493	488
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	570	616	734	746	703	638	617	557	493	488
Common Stock	677	698	771	789	791	834	854	867	913	928
Retained Earnings	-105	-76	-36	-40	-80	-191	-230	-306	-413	-440
Accumulated Other Comprehensive Income / (Loss)	-2.94	-5.32	-1.21	-2.29	-7.94	-5.57	-6.52	-3.85	-5.97	0.33

This table displays calculated financial ratios and metrics derived from MaxLinear's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.25%	125.64%	29.12%	8.38%	-8.40%	-17.61%	50.89%	86.46%	25.53%	-38.12%	-48.00%
EBITDA Growth	59.94%	515.90%	630.75%	-27.82%	-11.00%	-25.44%	-151.46%	781.50%	65.69%	-94.40%	-1,290.34%
EBIT Growth	28.46%	-371.42%	249.33%	-137.79%	21.84%	-18.48%	-362.39%	164.52%	178.33%	-132.20%	-295.92%
NOPAT Growth	28.28%	-392.76%	298.61%	-125.00%	11.88%	-15.50%	-358.53%	180.80%	126.18%	-120.68%	-484.37%
Net Income Growth	44.70%	-183.88%	406.64%	-114.99%	-185.17%	24.05%	-395.49%	142.57%	197.93%	-158.50%	-235.21%
EPS Growth	48.65%	-315.79%	215.19%	-115.38%	-171.43%	26.32%	-382.14%	139.26%	192.45%	-158.71%	-221.98%
Operating Cash Flow Growth	-5.09%	349.90%	113.14%	-36.02%	36.80%	-23.70%	-6.07%	128.60%	131.06%	-88.84%	-204.43%
Free Cash Flow Firm Growth	-379.59%	-388.00%	83.94%	-1,944.46%	114.29%	-43.19%	-492.93%	98.82%	11,721.82%	-127.65%	0.08%
Invested Capital Growth	7,036.56%	479.87%	62.82%	206.38%	-11.98%	-9.08%	14.37%	9.75%	-10.90%	4.91%	-16.22%
Revenue Q/Q Growth	0.68%	28.42%	-2.96%	6.75%	-6.35%	-5.26%	35.24%	6.34%	3.96%	-19.25%	-8.43%
EBITDA Q/Q Growth	-62.79%	59.17%	21.92%	7.04%	-19.45%	-1.03%	-63.33%	53.89%	2.56%	-85.29%	-1.48%
EBIT Q/Q Growth	-26.99%	-8.11%	34.74%	-168.93%	-27.46%	8.51%	-18.24%	502.44%	7.04%	-334.05%	1.03%
NOPAT Q/Q Growth	-26.83%	-10.59%	38.42%	-182.06%	-35.91%	11.21%	-18.42%	566.92%	1.87%	-227.90%	0.25%
Net Income Q/Q Growth	3.89%	44.71%	-8.17%	-149.37%	42.99%	-73.28%	-20.20%	485.78%	2.38%	-1,950.66%	-8.56%
EPS Q/Q Growth	5.00%	-8.22%	37.88%	-151.85%	42.42%	-64.71%	-20.54%	431.25%	1.97%	-2,175.00%	-6.93%
Operating Cash Flow Q/Q Growth	-41.25%	122.70%	2.66%	-7.24%	2.42%	5.29%	168.28%	-25.71%	15.90%	-66.46%	-33.10%
Free Cash Flow Firm Q/Q Growth	-434.10%	24.35%	9.55%	1.42%	-23.02%	57.05%	17.95%	-102.55%	31.33%	-27.12%	14.03%
Invested Capital Q/Q Growth	978.74%	-17.10%	-5.62%	-4.24%	-2.21%	-4.47%	-10.09%	8.25%	0.83%	-0.30%	-1.99%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.57%	51.75%	59.30%	49.48%	54.23%	52.87%	44.46%	55.56%	58.00%	55.63%	54.03%
EBITDA Margin	-2.37%	4.36%	24.68%	16.44%	15.97%	14.46%	-4.93%	18.02%	23.78%	2.15%	-49.25%
Operating Margin	-6.65%	-14.53%	16.26%	-5.16%	-4.96%	-6.95%	-21.13%	7.31%	16.09%	-5.51%	-61.95%
EBIT Margin	-6.75%	-14.10%	16.30%	-5.68%	-4.85%	-6.98%	-21.38%	7.40%	16.40%	-8.53%	-64.97%
Profit (Net Income) Margin	-5.29%	-6.65%	15.80%	-2.19%	-6.81%	-6.27%	-20.60%	4.70%	11.16%	-10.55%	-68.01%
Tax Burden Percent	80.51%	46.59%	96.23%	27.02%	79.75%	61.25%	85.84%	87.67%	71.78%	114.63%	102.71%
Interest Burden Percent	97.37%	101.34%	100.74%	142.29%	175.91%	146.81%	112.26%	72.52%	94.82%	107.86%	101.92%
Effective Tax Rate	0.00%	0.00%	3.77%	0.00%	0.00%	0.00%	0.00%	12.33%	28.22%	0.00%	0.00%
Return on Invested Capital (ROIC)	-53.55%	-39.36%	34.87%	-3.46%	-2.15%	-2.78%	-12.49%	9.02%	20.62%	-4.42%	-27.43%
ROIC Less NNEP Spread (ROIC-NNEP)	-52.52%	-49.58%	34.42%	5.31%	-7.80%	-5.80%	-29.48%	1.17%	10.90%	56.99%	256.50%
Return on Net Nonoperating Assets (RNNOA)	45.97%	28.32%	-14.95%	0.98%	-4.50%	-2.10%	-11.97%	0.51%	0.84%	-6.32%	-13.35%
Return on Equity (ROE)	-7.58%	-11.04%	19.92%	-2.48%	-6.65%	-4.88%	-24.46%	9.54%	21.46%	-10.74%	-40.78%
Cash Return on Invested Capital (CROIC)	-248.03%	-180.52%	-12.93%	-105.03%	10.59%	6.73%	-25.90%	-0.27%	32.15%	-9.21%	-9.78%
Operating Return on Assets (OROA)	-6.89%	-18.01%	16.70%	-3.83%	-2.38%	-3.05%	-11.84%	6.37%	16.47%	-5.23%	-24.09%
Return on Assets (ROA)	-5.40%	-8.50%	16.19%	-1.47%	-3.34%	-2.75%	-11.41%	4.05%	11.21%	-6.47%	-25.21%
Return on Common Equity (ROCE)	-7.58%	-11.04%	19.92%	-2.48%	-6.65%	-4.88%	-24.46%	9.54%	21.46%	-10.74%	-40.78%
Return on Equity Simple (ROE_SIMPLE)	-7.10%	-7.60%	17.39%	-2.37%	-6.55%	-4.80%	-25.21%	8.58%	18.49%	-10.66%	-47.49%
Net Operating Profit after Tax (NOPAT)	-6.20	-31	61	-15	-13	-15	-71	57	129	-27	-156
NOPAT Margin	-4.66%	-10.17%	15.65%	-3.61%	-3.47%	-4.87%	-14.79%	6.41%	11.55%	-3.86%	-43.37%
Net Nonoperating Expense Percent (NNEP)	-1.03%	10.22%	0.45%	-8.77%	5.64%	3.02%	16.98%	7.85%	9.72%	-61.40%	-283.93%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	16.21%	-3.31%	-24.46%
Cost of Revenue to Revenue	38.43%	48.25%	40.70%	50.52%	45.77%	47.13%	55.54%	44.44%	42.00%	44.37%	45.97%
SG&A Expenses to Revenue	25.69%	25.96%	16.62%	25.18%	26.44%	27.98%	27.17%	16.80%	15.00%	19.06%	38.37%
R&D to Revenue	42.54%	28.43%	25.20%	26.71%	31.18%	31.01%	37.61%	31.20%	26.46%	38.87%	62.46%
Operating Expenses to Revenue	68.23%	66.28%	43.04%	54.63%	59.19%	59.82%	65.60%	48.25%	41.91%	61.14%	115.98%
Earnings before Interest and Taxes (EBIT)	-8.98	-42	63	-24	-19	-22	-102	66	184	-59	-234
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-3.15	13	96	69	62	46	-24	161	266	15	-178
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.79	3.45	3.99	4.57	3.03	3.66	7.24	11.83	3.94	2.83	3.23
Price to Tangible Book Value (P/TBV)	3.27	5.61	8.17	0.00	0.00	0.00	0.00	192.90	10.25	6.59	11.69
Price to Revenue (P/Rev)	2.08	3.02	3.63	4.21	3.15	4.79	5.92	6.48	2.38	2.80	4.63
Price to Earnings (P/E)	0.00	0.00	22.95	0.00	0.00	0.00	0.00	137.84	21.33	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	4.36%	0.00%	0.00%	0.00%	0.00%	0.73%	4.69%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	8.62	5.86	5.90	3.09	2.40	3.09	5.04	8.98	4.37	3.02	3.22
Enterprise Value to Revenue (EV/Rev)	1.48	2.59	3.28	4.86	3.63	5.15	6.37	6.68	2.31	2.70	4.64
Enterprise Value to EBITDA (EV/EBITDA)	0.00	59.28	13.28	29.57	22.70	35.60	0.00	37.07	9.69	125.55	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	20.11	0.00	0.00	0.00	0.00	90.30	14.06	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	20.95	0.00	0.00	0.00	0.00	104.20	19.96	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	16.09	14.11	10.84	27.22	13.59	20.84	41.40	35.43	6.64	43.18	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	21.23	43.71	0.00	0.00	12.80	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.90	0.64	0.50	0.93	0.63	0.18	0.18	0.24
Long-Term Debt to Equity	0.00	0.00	0.00	0.90	0.64	0.50	0.93	0.63	0.18	0.18	0.24
Financial Leverage	-0.88	-0.57	-0.43	0.18	0.58	0.36	0.41	0.44	0.08	-0.11	-0.05
Leverage Ratio	1.40	1.30	1.23	1.69	1.99	1.78	2.14	2.35	1.91	1.66	1.62
Compound Leverage Factor	1.37	1.32	1.24	2.40	3.50	2.61	2.41	1.71	1.81	1.79	1.65
Debt to Total Capital	0.00%	0.00%	0.00%	47.29%	39.01%	33.27%	48.18%	38.49%	15.26%	15.13%	19.24%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	47.29%	39.01%	33.27%	48.18%	38.49%	15.26%	15.13%	19.24%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	52.71%	60.99%	66.73%	51.82%	61.51%	84.74%	84.87%	80.76%
Debt to EBITDA	0.00	0.00	0.00	5.03	4.16	4.51	-15.41	1.90	0.46	8.20	-0.69
Net Debt to EBITDA	0.00	0.00	0.00	3.97	2.96	2.48	-9.09	1.09	-0.32	-4.42	-0.02
Long-Term Debt to EBITDA	0.00	0.00	0.00	5.03	4.16	4.51	-15.41	1.90	0.46	8.20	-0.69
Debt to NOPAT	0.00	0.00	0.00	-22.91	-19.13	-13.40	-5.14	5.35	0.94	-4.57	-0.79
Net Debt to NOPAT	0.00	0.00	0.00	-18.08	-13.61	-7.37	-3.03	3.07	-0.66	2.47	-0.02
Long-Term Debt to NOPAT	0.00	0.00	0.00	-22.91	-19.13	-13.40	-5.14	5.35	0.94	-4.57	-0.79
Altman Z-Score	5.07	8.06	13.68	2.90	2.56	3.45	2.69	7.24	4.81	3.56	2.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.04	3.40	3.90	2.64	2.46	2.73	1.55	1.95	1.65	2.20	1.77
Quick Ratio	2.64	2.75	3.29	1.81	1.76	2.15	0.93	1.21	1.10	1.61	1.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-29	-140	-23	-460	66	37	-147	-1.74	202	-56	-56
Operating Cash Flow to CapEx	139.02%	1,837.15%	1,378.25%	1,009.20%	1,312.32%	1,137.62%	589.36%	429.43%	942.30%	322.37%	-256.19%
Free Cash Flow to Firm to Interest Expense	0.00	-1,401.43	-216.43	-44.34	4.61	3.35	-11.33	-0.10	20.65	-5.21	-5.13
Operating Cash Flow to Interest Expense	0.00	550.41	1,128.05	7.23	7.20	7.04	5.68	9.23	39.80	4.05	-4.17
Operating Cash Flow Less CapEx to Interest Expense	0.00	520.45	1,046.20	6.52	6.65	6.42	4.72	7.08	35.57	2.80	-5.79
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.02	1.28	1.02	0.67	0.49	0.44	0.55	0.86	1.00	0.61	0.37
Accounts Receivable Turnover	6.90	9.86	8.35	7.21	6.13	5.77	8.12	9.54	7.71	4.06	2.82
Inventory Turnover	4.90	6.69	5.35	5.31	3.70	4.08	4.11	3.46	3.22	2.36	1.74
Fixed Asset Turnover	14.83	17.51	18.29	19.46	18.75	18.12	17.07	17.78	16.01	9.53	5.73
Accounts Payable Turnover	6.81	20.86	24.01	17.92	10.84	10.30	11.51	9.25	7.74	6.83	6.26
Days Sales Outstanding (DSO)	52.90	37.02	43.71	50.62	59.53	63.24	44.94	38.28	47.36	89.92	129.63
Days Inventory Outstanding (DIO)	74.53	54.52	68.25	68.77	98.56	89.42	88.81	105.64	113.36	154.53	209.48
Days Payable Outstanding (DPO)	53.57	17.50	15.20	20.36	33.69	35.44	31.72	39.45	47.15	53.47	58.28
Cash Conversion Cycle (CCC)	73.85	74.04	96.76	99.02	124.41	117.22	102.04	104.46	113.57	190.98	280.83
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	23	132	216	661	582	529	605	664	591	620	520
Invested Capital Turnover	11.50	3.87	2.23	0.96	0.62	0.57	0.84	1.41	1.79	1.14	0.63
Increase / (Decrease) in Invested Capital	23	110	83	445	-79	-53	76	59	-72	29	-101
Enterprise Value (EV)	197	777	1,271	2,043	1,396	1,632	3,047	5,961	2,582	1,873	1,672
Market Capitalization	276	907	1,407	1,769	1,214	1,519	2,832	5,785	2,667	1,939	1,669
Book Value per Share	$2.66	$4.27	$5.46	$5.79	$5.80	$5.80	$5.27	$6.38	$8.61	$8.41	$6.12
Tangible Book Value per Share	$2.27	$2.63	$2.67	($2.47)	($1.21)	($0.16)	($1.60)	$0.39	$3.31	$3.61	$1.69
Total Capital	99	263	352	735	656	622	755	795	798	809	639
Total Debt	0.00	0.00	0.00	348	256	207	364	306	122	122	123
Total Long-Term Debt	0.00	0.00	0.00	348	256	207	364	306	122	122	123
Net Debt	-79	-130	-136	274	182	114	215	175	-85	-66	3.42
Capital Expenditures (CapEx)	8.80	3.00	8.51	7.44	7.83	6.89	12	39	41	13	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.43	23	29	52	36	22	-21	66	15	78	22
Debt-free Net Working Capital (DFNWC)	68	134	158	125	110	115	128	197	222	266	141
Net Working Capital (NWC)	68	134	158	125	110	115	128	197	222	266	141
Net Nonoperating Expense (NNE)	0.84	-11	-0.61	-5.98	13	4.46	28	15	4.34	46	89
Net Nonoperating Obligations (NNO)	-76	-130	-137	273	182	114	214	174	-85	-66	3.39
Total Depreciation and Amortization (D&A)	5.83	55	33	93	80	68	79	95	83	74	57
Debt-free, Cash-free Net Working Capital to Revenue	-1.07%	7.63%	7.40%	12.27%	9.42%	6.98%	-4.38%	7.40%	1.35%	11.19%	5.99%
Debt-free Net Working Capital to Revenue	50.84%	44.67%	40.82%	29.72%	28.58%	36.32%	26.76%	22.04%	19.82%	38.35%	39.15%
Net Working Capital to Revenue	50.84%	44.67%	40.82%	29.72%	28.58%	36.32%	26.76%	22.04%	19.82%	38.35%	39.15%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.19)	($0.79)	$0.96	($0.14)	($0.38)	($0.28)	($1.35)	$0.55	$1.60	($0.91)	($2.93)
Adjusted Weighted Average Basic Shares Outstanding	36.47M	53.38M	63.78M	66.25M	68.49M	71.01M	73.13M	76.04M	78.04M	80.72M	83.60M
Adjusted Diluted Earnings per Share	($0.19)	($0.79)	$0.91	($0.14)	($0.38)	($0.28)	($1.35)	$0.53	$1.55	($0.91)	($2.93)
Adjusted Weighted Average Diluted Shares Outstanding	36.47M	53.38M	67.65M	66.25M	68.49M	71.01M	73.13M	79.68M	80.85M	80.72M	83.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	37.97M	62.42M	65.11M	67.41M	69.56M	71.95M	74.54M	76.78M	78.75M	81.93M	84.63M
Normalized Net Operating Profit after Tax (NOPAT)	-6.20	-21	65	-7.10	-9.14	-14	-68	59	133	-11	-118
Normalized NOPAT Margin	-4.66%	-6.89%	16.82%	-1.69%	-2.37%	-4.29%	-14.22%	6.63%	11.87%	-1.62%	-32.76%
Pre Tax Income Margin	-6.57%	-14.28%	16.42%	-8.09%	-8.53%	-10.24%	-24.00%	5.36%	15.55%	-9.20%	-66.21%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-423.38	607.90	-2.30	-1.31	-1.99	-7.90	3.62	18.81	-5.53	-21.54
NOPAT to Interest Expense	0.00	-305.54	583.51	-1.46	-0.94	-1.39	-5.47	3.14	13.25	-2.50	-14.38
EBIT Less CapEx to Interest Expense	0.00	-453.34	526.06	-3.02	-1.86	-2.61	-8.86	1.47	14.59	-6.79	-23.17
NOPAT Less CapEx to Interest Expense	0.00	-335.50	501.66	-2.18	-1.49	-2.01	-6.43	0.99	9.02	-3.76	-16.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-4.03%	0.00%	-3.64%	0.00%	0.00%	0.00%	56.11%	25.20%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from MaxLinear's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.22%	-5.87%	-34.31%	-52.57%	-56.86%	-61.65%	-49.99%	-40.16%	-26.47%	0.70%	18.29%
EBITDA Growth	11.97%	-34.88%	-76.96%	-134.50%	-138.87%	-219.50%	-271.86%	-200.86%	-10.70%	36.03%	34.06%
EBIT Growth	39.19%	-43.09%	-108.82%	-185.81%	-196.66%	-371.52%	-894.38%	-101.03%	5.89%	35.28%	28.38%
NOPAT Growth	8.26%	-71.13%	-114.62%	-137.69%	-192.99%	-604.15%	-587.55%	-274.58%	1.37%	38.23%	39.70%
Net Income Growth	10.31%	-71.62%	-113.61%	-240.20%	-223.87%	-858.51%	-802.46%	-90.28%	-50.23%	31.25%	32.29%
EPS Growth	8.57%	-71.43%	-112.50%	-240.00%	-228.95%	-833.33%	-840.00%	-83.67%	-38.78%	34.09%	34.04%
Operating Cash Flow Growth	332.59%	-68.58%	-75.23%	-120.71%	-123.90%	-62.12%	-108.82%	-140.24%	-67.97%	-171.38%	489.06%
Free Cash Flow Firm Growth	446.93%	182.24%	-147.91%	-180.73%	-156.13%	-64.80%	185.41%	193.77%	223.24%	165.26%	-11.15%
Invested Capital Growth	-10.90%	-2.23%	7.28%	6.09%	4.91%	-9.69%	-10.96%	-14.77%	-16.22%	-9.75%	-9.47%
Revenue Q/Q Growth	1.70%	-14.50%	-25.96%	-26.32%	-7.51%	-24.00%	-3.44%	-11.84%	13.64%	4.09%	13.43%
EBITDA Q/Q Growth	-5.94%	-25.00%	-67.33%	-249.67%	-5.99%	-130.55%	53.01%	-162.02%	61.00%	-33.23%	51.56%
EBIT Q/Q Growth	-9.12%	-37.22%	-115.11%	-895.56%	-2.38%	-76.33%	44.67%	-101.27%	52.07%	-21.25%	38.77%
NOPAT Q/Q Growth	-5.05%	-67.03%	-140.11%	-200.12%	-134.27%	-78.75%	45.29%	-63.51%	38.31%	-11.95%	46.60%
Net Income Q/Q Growth	9.41%	-69.33%	-145.64%	-815.40%	3.34%	-87.82%	45.70%	-93.00%	23.68%	14.05%	46.52%
EPS Q/Q Growth	8.57%	-68.42%	-141.67%	-880.00%	0.00%	-79.59%	46.59%	-91.49%	24.44%	14.71%	46.55%
Operating Cash Flow Q/Q Growth	12.29%	-39.21%	-27.47%	-141.83%	-29.56%	196.36%	-116.88%	-1,039.87%	9.41%	59.05%	192.01%
Free Cash Flow Firm Q/Q Growth	73.83%	-76.20%	-287.78%	-3.93%	-20.86%	114.92%	355.65%	14.11%	58.85%	-67.88%	52.62%
Invested Capital Q/Q Growth	0.83%	6.30%	-1.04%	0.02%	-0.30%	-8.50%	-2.43%	-4.26%	-1.99%	-1.43%	-2.12%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	56.21%	56.47%	55.93%	54.56%	54.68%	51.71%	54.56%	54.35%	55.60%	56.11%	56.54%
EBITDA Margin	21.43%	18.80%	8.30%	-16.85%	-19.31%	-58.58%	-28.51%	-84.73%	-29.08%	-37.22%	-15.89%
Operating Margin	14.16%	10.98%	-3.23%	-13.15%	-33.30%	-78.32%	-44.37%	-82.30%	-44.67%	-48.05%	-22.62%
EBIT Margin	14.78%	10.85%	-2.21%	-29.91%	-33.11%	-76.82%	-44.02%	-100.49%	-42.38%	-49.37%	-26.65%
Profit (Net Income) Margin	10.70%	3.84%	-2.37%	-29.39%	-30.71%	-75.90%	-42.69%	-93.44%	-62.75%	-51.82%	-24.43%
Tax Burden Percent	76.34%	37.98%	91.41%	95.93%	90.31%	97.62%	95.02%	91.86%	141.68%	101.45%	86.60%
Interest Burden Percent	94.82%	93.12%	116.90%	102.42%	102.72%	101.21%	102.06%	101.23%	104.51%	103.46%	105.86%
Effective Tax Rate	23.66%	62.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	19.31%	7.25%	-3.79%	-13.07%	-26.68%	-49.51%	-23.68%	-39.36%	-19.78%	-22.50%	-11.35%
ROIC Less NNEP Spread (ROIC-NNEP)	18.54%	-10.38%	-3.45%	36.66%	-14.39%	-26.70%	-12.27%	14.86%	72.94%	45.50%	25.78%
Return on Net Nonoperating Assets (RNNOA)	1.42%	-0.08%	0.30%	-3.06%	1.60%	3.42%	1.69%	-1.27%	-3.80%	-2.06%	-1.18%
Return on Equity (ROE)	20.73%	7.17%	-3.49%	-16.13%	-25.08%	-46.09%	-21.99%	-40.63%	-23.58%	-24.56%	-12.52%
Cash Return on Invested Capital (CROIC)	32.15%	18.67%	4.63%	-7.26%	-9.21%	-6.21%	-9.24%	-11.25%	-9.78%	-15.01%	-13.76%
Operating Return on Assets (OROA)	14.84%	10.43%	-1.91%	-22.46%	-20.31%	-37.22%	-18.48%	-39.58%	-15.71%	-18.91%	-10.97%
Return on Assets (ROA)	10.74%	3.69%	-2.04%	-22.07%	-18.84%	-36.78%	-17.92%	-36.81%	-23.27%	-19.85%	-10.06%
Return on Common Equity (ROCE)	20.73%	7.17%	-3.49%	-16.13%	-25.08%	-46.09%	-21.99%	-40.63%	-23.58%	-24.56%	-12.52%
Return on Equity Simple (ROE_SIMPLE)	0.00%	13.76%	8.67%	-0.51%	0.00%	-24.29%	-30.77%	-40.56%	0.00%	-45.14%	-42.99%
Net Operating Profit after Tax (NOPAT)	31	10	-4.16	-12	-29	-52	-29	-47	-29	-32	-17
NOPAT Margin	10.81%	4.17%	-2.26%	-9.20%	-23.31%	-54.83%	-31.06%	-57.61%	-31.27%	-33.63%	-15.84%
Net Nonoperating Expense Percent (NNEP)	0.77%	17.63%	-0.34%	-49.73%	-12.28%	-22.81%	-11.40%	-54.23%	-92.72%	-68.00%	-37.12%
Return On Investment Capital (ROIC_SIMPLE)	3.94%	-	-	-	-3.61%	-	-	-	-4.51%	-5.24%	-2.82%
Cost of Revenue to Revenue	43.79%	43.53%	44.07%	45.44%	45.32%	48.29%	45.44%	45.65%	44.40%	43.89%	43.46%
SG&A Expenses to Revenue	15.30%	15.56%	18.33%	18.74%	27.43%	38.30%	36.53%	37.18%	41.32%	38.14%	30.66%
R&D to Revenue	25.37%	27.09%	38.41%	48.92%	52.05%	67.98%	61.46%	64.86%	55.64%	57.81%	43.38%
Operating Expenses to Revenue	42.05%	45.50%	59.16%	67.71%	87.98%	130.04%	98.93%	136.65%	100.28%	104.16%	79.16%
Earnings before Interest and Taxes (EBIT)	43	27	-4.07	-41	-42	-73	-40	-81	-39	-47	-29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	62	47	15	-23	-24	-56	-26	-69	-27	-36	-17
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.94	3.78	3.38	2.57	2.83	2.39	2.71	2.18	3.23	1.86	2.51
Price to Tangible Book Value (P/TBV)	10.25	8.70	7.50	5.98	6.59	5.98	7.07	6.74	11.69	7.47	10.64
Price to Revenue (P/Rev)	2.38	2.51	2.50	2.10	2.80	2.82	3.74	3.09	4.63	2.54	3.25
Price to Earnings (P/E)	21.33	27.46	39.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.69%	3.64%	2.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	4.37	4.24	3.86	2.77	3.02	2.56	2.91	2.24	3.22	1.83	2.48
Enterprise Value to Revenue (EV/Rev)	2.31	2.41	2.38	2.01	2.70	2.69	3.59	3.02	4.64	2.60	3.29
Enterprise Value to EBITDA (EV/EBITDA)	9.69	11.05	12.60	16.98	125.55	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	14.06	16.33	21.23	68.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	19.96	25.56	34.26	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	6.64	8.99	11.77	13.32	43.18	84.52	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	12.80	22.47	86.20	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.18	0.17	0.16	0.17	0.18	0.19	0.20	0.22	0.24	0.25	0.25
Long-Term Debt to Equity	0.18	0.17	0.16	0.17	0.18	0.19	0.20	0.22	0.24	0.25	0.25
Financial Leverage	0.08	0.01	-0.09	-0.08	-0.11	-0.13	-0.14	-0.09	-0.05	-0.05	-0.05
Leverage Ratio	1.91	1.82	1.78	1.73	1.66	1.62	1.57	1.59	1.62	1.67	1.66
Compound Leverage Factor	1.81	1.70	2.08	1.78	1.70	1.64	1.60	1.61	1.69	1.73	1.76
Debt to Total Capital	15.26%	14.24%	14.06%	14.82%	15.13%	16.11%	16.58%	18.07%	19.24%	19.98%	20.16%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	15.26%	14.24%	14.06%	14.82%	15.13%	16.11%	16.58%	18.07%	19.24%	19.98%	20.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	84.74%	85.76%	85.94%	85.18%	84.87%	83.89%	83.42%	81.93%	80.76%	80.02%	79.84%
Debt to EBITDA	0.46	0.51	0.64	1.21	8.20	-1.40	-0.95	-0.70	-0.69	-0.78	-0.83
Net Debt to EBITDA	-0.32	-0.44	-0.65	-0.79	-4.42	0.80	0.49	0.15	-0.02	-0.12	-0.10
Long-Term Debt to EBITDA	0.46	0.51	0.64	1.21	8.20	-1.40	-0.95	-0.70	-0.69	-0.78	-0.83
Debt to NOPAT	0.94	1.17	1.74	-14.98	-4.57	-1.25	-1.00	-0.78	-0.79	-0.90	-0.99
Net Debt to NOPAT	-0.66	-1.01	-1.77	9.87	2.47	0.72	0.52	0.17	-0.02	-0.14	-0.12
Long-Term Debt to NOPAT	0.94	1.17	1.74	-14.98	-4.57	-1.25	-1.00	-0.78	-0.79	-0.90	-0.99
Altman Z-Score	4.42	4.83	4.78	3.55	3.61	2.61	3.07	2.03	2.75	1.26	1.74
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.65	1.98	2.29	2.18	2.20	1.99	2.09	1.95	1.77	1.63	1.55
Quick Ratio	1.10	1.38	1.66	1.55	1.61	1.42	1.42	1.16	1.12	1.02	1.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	104	25	-46	-48	-58	8.69	40	45	72	23	35
Operating Cash Flow to CapEx	417.11%	808.26%	607.07%	-663.83%	-1,300.86%	191.44%	-89.48%	-743.73%	-1,269.40%	-573.15%	894.97%
Free Cash Flow to Firm to Interest Expense	45.28	9.93	-17.90	-17.75	-20.02	3.21	14.64	17.02	25.62	9.21	14.01
Operating Cash Flow to Interest Expense	30.26	16.95	11.80	-4.71	-5.70	5.89	-1.00	-11.57	-9.94	-4.55	4.18
Operating Cash Flow Less CapEx to Interest Expense	23.01	14.85	9.86	-5.42	-6.14	2.81	-2.11	-13.13	-10.72	-5.35	3.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.00	0.96	0.86	0.75	0.61	0.48	0.42	0.39	0.37	0.38	0.41
Accounts Receivable Turnover	7.71	7.03	6.89	5.11	4.06	3.43	3.72	3.82	2.82	3.21	3.96
Inventory Turnover	3.22	3.25	3.19	2.69	2.36	2.00	1.87	1.72	1.74	1.78	1.85
Fixed Asset Turnover	16.01	16.04	14.62	12.57	9.53	7.40	6.44	5.92	5.73	5.83	6.49
Accounts Payable Turnover	7.74	8.18	7.30	5.56	6.83	5.64	5.06	4.79	6.26	6.38	5.36
Days Sales Outstanding (DSO)	47.36	51.94	52.99	71.49	89.92	106.43	98.05	95.56	129.63	113.76	92.10
Days Inventory Outstanding (DIO)	113.36	112.24	114.44	135.61	154.53	182.68	195.50	212.00	209.48	205.37	197.16
Days Payable Outstanding (DPO)	47.15	44.64	49.98	65.68	53.47	64.66	72.16	76.19	58.28	57.22	68.16
Cash Conversion Cycle (CCC)	113.57	119.54	117.46	141.43	190.98	224.45	221.39	231.38	280.83	261.91	221.09
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	591	629	622	622	620	568	554	530	520	512	501
Invested Capital Turnover	1.79	1.74	1.68	1.42	1.14	0.90	0.76	0.68	0.63	0.67	0.72
Increase / (Decrease) in Invested Capital	-72	-14	42	36	29	-61	-68	-92	-101	-55	-52
Enterprise Value (EV)	2,582	2,667	2,400	1,722	1,873	1,452	1,611	1,188	1,672	938	1,242
Market Capitalization	2,667	2,773	2,524	1,803	1,939	1,523	1,674	1,215	1,669	919	1,227
Book Value per Share	$8.61	$9.32	$9.33	$8.67	$8.41	$7.75	$7.43	$6.64	$6.12	$5.83	$5.65
Tangible Book Value per Share	$3.31	$4.05	$4.21	$3.72	$3.61	$3.09	$2.85	$2.15	$1.69	$1.45	$1.34
Total Capital	798	856	868	825	809	761	740	680	639	616	612
Total Debt	122	122	122	122	122	123	123	123	123	123	123
Total Long-Term Debt	122	122	122	122	122	123	123	123	123	123	123
Net Debt	-85	-106	-124	-81	-66	-70	-63	-27	3.42	19	15
Capital Expenditures (CapEx)	17	5.22	5.04	1.93	1.27	8.34	3.01	4.13	2.19	1.99	1.17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	15	66	67	73	78	28	21	10	22	19	8.04
Debt-free Net Working Capital (DFNWC)	222	293	313	276	266	221	207	160	141	124	117
Net Working Capital (NWC)	222	293	313	276	266	221	207	160	141	124	117
Net Nonoperating Expense (NNE)	0.34	0.83	0.20	27	9.28	20	11	29	29	17	9.36
Net Nonoperating Obligations (NNO)	-85	-106	-124	-81	-66	-70	-63	-27	3.39	19	13
Total Depreciation and Amortization (D&A)	19	20	19	18	17	17	14	13	12	12	12
Debt-free, Cash-free Net Working Capital to Revenue	1.35%	5.97%	6.61%	8.50%	11.19%	5.17%	4.73%	2.59%	5.99%	5.39%	2.13%
Debt-free Net Working Capital to Revenue	19.82%	26.56%	31.01%	32.11%	38.35%	40.89%	46.26%	40.55%	39.15%	34.20%	30.86%
Net Working Capital to Revenue	19.82%	26.56%	31.01%	32.11%	38.35%	40.89%	46.26%	40.55%	39.15%	34.20%	30.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.39	$0.12	($0.05)	($0.49)	($0.49)	($0.88)	($0.47)	($0.90)	($0.68)	($0.58)	($0.31)
Adjusted Weighted Average Basic Shares Outstanding	78.04M	79.47M	80.45M	81.25M	80.72M	82.35M	83.48M	84.07M	83.60M	85.27M	86.63M
Adjusted Diluted Earnings per Share	$0.38	$0.12	($0.05)	($0.49)	($0.49)	($0.88)	($0.47)	($0.90)	($0.68)	($0.58)	($0.31)
Adjusted Weighted Average Diluted Shares Outstanding	80.85M	81.34M	80.45M	81.25M	80.72M	82.35M	83.48M	84.07M	83.60M	85.27M	86.63M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	78.75M	79.98M	81.02M	81.56M	81.93M	83.13M	83.90M	84.36M	84.63M	86.37M	87.08M
Normalized Net Operating Profit after Tax (NOPAT)	34	24	-1.05	-12	-22	-36	-28	-27	-27	-27	-13
Normalized NOPAT Margin	11.86%	9.68%	-0.57%	-9.17%	-17.36%	-38.20%	-30.40%	-33.38%	-28.95%	-27.88%	-12.25%
Pre Tax Income Margin	14.01%	10.10%	-2.59%	-30.63%	-34.01%	-77.75%	-44.92%	-101.72%	-44.29%	-51.08%	-28.21%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	18.73	10.84	-1.57	-14.93	-14.27	-26.99	-14.96	-30.70	-13.94	-18.91	-11.55
NOPAT to Interest Expense	13.71	4.17	-1.60	-4.59	-10.04	-19.27	-10.56	-17.60	-10.29	-12.89	-6.86
EBIT Less CapEx to Interest Expense	11.48	8.74	-3.52	-15.64	-14.71	-30.07	-16.08	-32.25	-14.72	-19.71	-12.01
NOPAT Less CapEx to Interest Expense	6.45	2.07	-3.55	-5.30	-10.48	-22.34	-11.67	-19.15	-11.07	-13.68	-7.33
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	25.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Key Financial Trends

MaxLinear (NASDAQ: MXL) Financial Statement Summary and Trends Analysis

MaxLinear's recent quarterly financial disclosures from Q2 2022 through Q2 2025 reveal a company facing several financial challenges while making strategic investments. Below is a summary analysis of key financial trends and significant data points to consider for retail investors.

Revenue Growth: Operating revenue shows moderate fluctuations but an overall upward trend from approximately $180.8M in Q2 2022 to about $108.8M in Q2 2025, indicating steady business operations despite market conditions.
Increasing Cash Reserves: Cash & equivalents remain robust, with Q2 2025 at $108.6M, indicating healthy liquidity to fund operations and investments.
Recurring Depreciation and Amortization Expenses: Consistent non-cash charges around $11M-$19M suggest ongoing investments in fixed and intangible assets.
Strategic Acquisitions: The company has made acquisitions in recent quarters (e.g., $6.2M in Q2 2025), which may support future growth and market expansion.
Capital Expenditures: Regular purchase of property, plant, and equipment (over $1M to $16M across quarters) indicate continuous capital investment, a neutral signal reflecting the need to maintain infrastructure.
Interest Expense Steady: Interest expenses have hovered around $2.5M-$3M per quarter, with interest income partially offsetting this, reflecting consistent financing costs.
Persistent Net Losses: The company has reported net losses in most recent quarters, including -$26.6M in Q2 2025, following large quarterly net losses such as -$75.8M in Q3 2024 and continuing losses since 2023. This highlights operational profitability challenges.
Operating Expenses Outpacing Revenue: Significant research & development and restructuring charges (e.g., $47.2M R&D and $5.6M restructuring in Q2 2025) lead to operating expenses exceeding gross profit, pressuring earnings.
Declining Equity: Retained earnings have shown a negative trend, decreasing shareholders' equity to $488.3M in Q2 2025 from higher levels in previous years, which can signal accumulated deficits.
Volatile Cash Flows: Negative operating cash flows observed in multiple quarters (e.g., -$11.4M in Q1 2025), combined with recurring financing outflows, suggest cash generation issues that may constrain growth or risk funding needs.

Summary: MaxLinear demonstrates consistent revenue generation with adequate liquidity and ongoing capital investment. However, the company is challenged by persistent net losses driven by high operating expenses, including heavy R&D and restructuring charges. Equity erosion and volatile cash flow patterns warrant caution. Retail investors should monitor how effectively management enhances profitability and controls expenses while leveraging acquisitions for growth.

08/02/25 03:56 AMAI Generated. May Contain Errors.

Frequently Asked Questions About MaxLinear's Financials

When does MaxLinear's fiscal year end?

According to the most recent income statement we have on file, MaxLinear's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has MaxLinear's net income changed over the last 10 years?

MaxLinear's net income appears to be on an upward trend, with a most recent value of -$245.20 million in 2024, rising from -$7.04 million in 2014. The previous period was -$73.15 million in 2023. Find out what analysts predict for MaxLinear in the coming months.

What is MaxLinear's operating income?

MaxLinear's total operating income in 2024 was -$223.35 million, based on the following breakdown:

Total Gross Profit: $194.78 million
Total Operating Expenses: $418.13 million

How has MaxLinear's revenue changed over the last 10 years?

Over the last 10 years, MaxLinear's total revenue changed from $133.11 million in 2014 to $360.53 million in 2024, a change of 170.8%.

How much debt does MaxLinear have?

MaxLinear's total liabilities were at $348.36 million at the end of 2024, a 11.6% decrease from 2023, and a 851.6% increase since 2014.

How much cash does MaxLinear have?

In the past 10 years, MaxLinear's cash and equivalents has ranged from $20.70 million in 2014 to $187.35 million in 2022, and is currently $118.58 million as of their latest financial filing in 2024.

How has MaxLinear's book value per share changed over the last 10 years?

Over the last 10 years, MaxLinear's book value per share changed from 2.66 in 2014 to 6.12 in 2024, a change of 130.2%.

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This page (NASDAQ:MXL) was last updated on 8/2/2025 by MarketBeat.com Staff

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MaxLinear (MXL) Financials

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