AVGO vs MRVL: Broadcom and Marvell Technology Group compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Broadcom is the larger company, worth $1.75T, about 6.8 times Marvell Technology Group.
- Broadcom grew revenue faster over the last year (+85.5% vs +36.5%).
- Broadcom keeps more of each dollar of revenue as operating profit (48.0% vs 16.5%).
- On earnings, Broadcom is the cheaper stock (71.8x vs 96.1x).
- Marvell Technology Group's price assumes faster free cash flow growth: about 35% a year, against 20% for Broadcom (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AVGO | MRVL |
|---|---|---|
| Market cap | $1.75T | $258.3B |
| Share price | $361.54 | $275.28 |
| Revenue (last fiscal year) | $63.9B | $8.2B |
| Free cash flow (last fiscal year) | $26.9B | $1.4B |
| Revenue growth, last year | +85.5% | +36.5% |
| Revenue growth per year, last 5 fiscal years | +23.5% | +16.4% |
| Operating margin | 48.0% | 16.5% |
| Net margin | 42.9% | 27.9% |
| Return on equity | 38.4% | 14.2% |
| P/E (trailing) | 71.8x | 96.1x |
| Price / free cash flow | 64.9x | 185.0x |
| EV / EBITDA | 35.4x | 36.5x |
| FCF growth the price implies | 20.5% | 35.0% |
| Dividend yield | 0.65% | 0.08% |
| Debt / equity | 0.89x | 0.49x |
| Fundamental grade | B | B |
| Superinvestors holding it | 16 | 7 |
| Insider purchases, last 12 months | 8 | 3 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Broadcom
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $27.4B | $13.3B | 31.0% |
| 2022 | $33.2B | $16.3B | 42.8% |
| 2023 | $35.8B | $17.6B | 45.2% |
| 2024 | $51.6B | $19.4B | 26.1% |
| 2025 | $63.9B | $26.9B | 39.9% |
Marvell Technology Group
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $4.5B | $650M | -7.8% |
| 2023 | $5.9B | $1.1B | 4.0% |
| 2024 | $5.5B | $1.0B | -10.3% |
| 2025 | $5.8B | $1.4B | -12.5% |
| 2026 | $8.2B | $1.4B | 16.1% |
Where the revenue comes from
Broadcom · by segments, 2025
Semiconductor Solutions$36.9B58%
Infrastructure Software$27.0B42%
Marvell Technology Group · by products, 2026
Data center$6.1B74%
Communications and other$2.1B26%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AVGO in InvestinglyQuestions
Which is bigger, Broadcom or Marvell Technology Group?
Broadcom (AVGO), at $1.75T against $258.3B.
Is AVGO or MRVL cheaper?
By trailing P/E, Broadcom (71.8x) is cheaper than Marvell Technology Group (96.1x). A lower multiple can also mean the market expects less growth.
Which grows faster, AVGO or MRVL?
Broadcom: revenue grew +85.5% over the last year, against +36.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.