MaxLinear (MXL) Financials

$92.34 0.00 (0.00%)

Closing price 05/15/2026 04:00 PM Eastern

Extended Trading

$93.76 +1.42 (+1.53%)

As of 08:09 AM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-42	61	-9.19	-26	-20	-99	42	125	-73	-245	-137
Consolidated Net Income / (Loss)	-20	61	-9.19	-26	-20	-99	42	125	-73	-245	-137
Net Income / (Loss) Continuing Operations	-20	61	-9.19	-26	-20	-99	42	125	-73	-245	-137
Total Pre-Tax Income	-43	64	-34	-33	-32	-115	48	174	-64	-239	-141
Total Operating Income	-44	63	-22	-19	-22	-101	65	180	-38	-223	-127
Total Gross Profit	155	230	208	209	168	213	496	650	386	195	266
Total Revenue	300	388	420	385	317	479	892	1,120	693	361	468
Operating Revenue	300	388	420	385	317	479	892	1,120	693	361	468
Total Cost of Revenue	145	158	212	176	149	266	397	470	308	166	202
Operating Cost of Revenue	145	158	212	176	149	266	397	470	308	166	202
Total Operating Expenses	199	167	230	228	190	314	431	470	424	418	393
Selling, General & Admin Expense	78	64	106	102	89	130	150	168	132	138	160
Research & Development Expense	85	98	112	120	98	180	278	296	270	225	209
Impairment Charge	0.00	1.30	2.00	2.20	0.00	0.09	0.00	2.81	2.44	1.24	0.00
Restructuring Charge	14	3.43	9.52	3.84	2.64	3.83	2.20	2.27	20	53	25
Total Other Income / (Expense), net	1.49	0.63	-12	-14	-10	-14	-17	-6.05	-26	-15	-14
Interest Expense	0.10	0.10	10	14	11	13	18	9.77	11	11	10
Interest & Investment Income	0.28	0.57	0.27	0.08	0.78	0.41	0.08	0.25	6.05	6.39	3.39
Other Income / (Expense), net	1.31	0.16	-2.22	0.42	-0.07	-1.17	0.76	3.48	-21	-11	-7.33
Income Tax Expense	-0.58	2.40	-25	-6.65	-13	-16	5.90	49	9.34	6.48	-4.21
Basic Earnings per Share	($0.79)	$0.96	($0.14)	($0.38)	($0.28)	($1.35)	$0.55	$1.60	($0.91)	($2.93)	($1.58)
Weighted Average Basic Shares Outstanding	53.38M	63.78M	66.25M	68.49M	71.01M	73.13M	76.04M	78.04M	80.72M	83.60M	86.59M
Diluted Earnings per Share	($0.79)	$0.91	($0.14)	($0.38)	($0.28)	($1.35)	$0.53	$1.55	($0.91)	($2.93)	($1.58)
Weighted Average Diluted Shares Outstanding	53.38M	67.65M	66.25M	68.49M	71.01M	73.13M	79.68M	80.85M	80.72M	83.60M	86.59M
Weighted Average Basic & Diluted Shares Outstanding	53.60M	63.80M	65.60M	71.95M	71.95M	74.54M	76.78M	78.75M	81.93M	84.63M	86.45M

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-40	-39	-72	-39	-76	-58	-50	-27	-45	-15	-45
Consolidated Net Income / (Loss)	-40	-39	-72	-39	-76	-58	-50	-27	-45	-15	-45
Net Income / (Loss) Continuing Operations	-40	-39	-72	-39	-76	-58	-50	-27	-45	-15	-45
Total Pre-Tax Income	-42	-43	-74	-41	-82	-41	-49	-31	-43	-18	-19
Total Operating Income	-18	-42	-75	-41	-67	-41	-46	-25	-41	-15	-17
Total Gross Profit	74	69	49	50	44	51	54	62	72	79	79
Total Revenue	136	125	95	92	81	92	96	109	126	136	137
Operating Revenue	136	125	95	92	81	92	96	109	126	136	137
Total Cost of Revenue	62	57	46	42	37	41	42	47	55	58	58
Operating Cost of Revenue	62	57	46	42	37	41	42	47	55	58	58
Total Operating Expenses	92	110	124	91	111	92	100	86	113	93	96
Selling, General & Admin Expense	25	34	36	34	30	38	37	33	48	42	42
Research & Development Expense	66	65	65	57	53	51	55	47	54	52	53
Restructuring Charge	0.05	11	23	0.87	27	3.06	7.88	5.58	11	-0.20	0.47
Total Other Income / (Expense), net	-24	-0.89	0.55	-0.51	-16	0.35	-2.91	-6.09	-2.10	-2.91	-1.44
Interest Expense	2.72	2.91	2.71	2.71	2.66	2.80	2.50	2.51	2.65	2.39	2.20
Interest & Investment Income	1.74	1.78	1.82	1.87	1.65	1.04	0.86	0.81	0.87	0.84	0.63
Other Income / (Expense), net	-23	0.24	1.43	0.33	-15	2.11	-1.27	-4.39	-0.32	-1.36	0.12
Income Tax Expense	-1.69	-4.13	-1.76	-2.06	-6.71	17	0.71	-4.12	2.10	-2.91	26
Basic Earnings per Share	($0.49)	($0.49)	($0.88)	($0.47)	($0.90)	($0.68)	($0.58)	($0.31)	($0.52)	($0.17)	($0.52)
Weighted Average Basic Shares Outstanding	81.25M	80.72M	82.35M	83.48M	84.07M	83.60M	85.27M	86.63M	87.19M	86.59M	87.60M
Diluted Earnings per Share	($0.49)	($0.49)	($0.88)	($0.47)	($0.90)	($0.68)	($0.58)	($0.31)	($0.52)	($0.17)	($0.52)
Weighted Average Diluted Shares Outstanding	81.25M	80.72M	82.35M	83.48M	84.07M	83.60M	85.27M	86.63M	87.19M	86.59M	87.60M
Weighted Average Basic & Diluted Shares Outstanding	81.56M	81.93M	83.13M	83.90M	84.36M	84.63M	86.37M	87.08M	87.37M	86.45M	89.55M

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Change in Cash & Equivalents	47	15	-8.48	-0.22	19	57	-18	57	-0.00	-69	-18
Net Cash From Operating Activities	55	117	75	103	78	74	168	389	43	-45	20
Net Cash From Continuing Operating Activities	55	117	75	103	78	74	168	389	43	-45	20
Net Income / (Loss) Continuing Operations	-42	61	-9.19	-26	-20	-99	42	125	-73	-245	-137
Consolidated Net Income / (Loss)	-42	61	-9.19	-26	-20	-99	42	125	-73	-245	-137
Depreciation Expense	41	27	67	79	66	77	92	81	72	54	44
Amortization Expense	15	5.81	26	1.15	1.58	2.20	3.00	1.98	2.56	2.54	1.93
Non-Cash Adjustments To Reconcile Net Income	50	15	27	32	24	77	59	71	62	79	77
Changes in Operating Assets and Liabilities, net	-7.94	8.16	-36	17	6.32	16	-28	109	-20	65	33
Net Cash From Investing Activities	-11	-101	-432	-7.83	-6.97	-175	-92	-92	-16	-23	-20
Net Cash From Continuing Investing Activities	-11	-101	-432	-7.83	-6.97	-175	-92	-92	-16	-23	-20
Purchase of Property, Plant & Equipment	-3.00	-8.51	-7.47	-7.83	-6.89	-12	-39	-41	-13	-18	-13
Acquisitions	-3.72	-101	-479	0.00	-0.09	-163	-48	-11	-20	-5.77	-7.20
Sale and/or Maturity of Investments	69	99	85	0.00	-	-	0.00	0.00	17	0.00	0.00
Net Cash From Financing Activities	4.00	-0.67	347	-94	-53	160	-92	-240	-26	1.29	-19
Net Cash From Continuing Financing Activities	4.00	-0.67	347	-94	-53	160	-92	-240	-26	1.29	-19
Repayment of Debt	0.00	0.00	-70	-93	-50	-20	-414	-185	-18	0.00	0.00
Repurchase of Common Equity	-0.81	-0.00	-0.33	0.00	0.00	0.00	-24	-32	0.00	0.00	-20
Issuance of Common Equity	9.95	6.65	12	6.84	8.60	8.07	8.78	5.01	4.56	4.09	3.56
Other Financing Activities, net	-5.14	-7.32	-12	-7.62	-12	-3.54	-13	-29	-13	-2.81	-2.22
Effect of Exchange Rate Changes	-0.73	-0.39	1.58	-1.30	0.93	-1.04	-2.87	0.06	-1.08	-1.30	0.64
Cash Interest Paid	0.00	0.00	8.84	14	11	11	11	9.08	9.48	9.74	8.60
Cash Income Taxes Paid	0.04	1.58	9.44	5.43	4.42	2.82	3.84	24	29	8.19	5.79

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-37	0.20	4.57	-6.79	-37	-30	-16	6.19	3.01	-12	-11
Net Cash From Operating Activities	-13	-17	16	-2.70	-31	-28	-11	10	10	10	-8.87
Net Cash From Continuing Operating Activities	-13	-17	16	-2.70	-31	-28	-11	10	10	10	-8.87
Net Income / (Loss) Continuing Operations	-40	-39	-72	-39	-76	-58	-50	-27	-45	-15	-45
Consolidated Net Income / (Loss)	-40	-39	-72	-39	-76	-58	-50	-27	-45	-15	-45
Depreciation Expense	17	17	17	14	12	12	11	11	11	11	11
Amortization Expense	0.69	0.70	0.69	0.67	0.64	0.55	0.51	0.49	0.48	0.45	0.41
Non-Cash Adjustments To Reconcile Net Income	1.87	25	17	9.80	27	22	26	12	26	17	18
Changes in Operating Assets and Liabilities, net	7.47	-21	54	13	4.84	-4.34	1.01	13	19	-3.00	6.64
Net Cash From Investing Activities	-2.60	15	-8.71	-5.79	-5.95	-3.00	-1.99	-7.38	-6.74	-3.69	-4.24
Net Cash From Continuing Investing Activities	-2.60	15	-8.71	-5.79	-5.95	-3.00	-1.99	-7.38	-6.74	-3.69	-4.24
Purchase of Property, Plant & Equipment	-1.93	-1.27	-8.34	-3.01	-4.13	-2.19	-1.99	-1.17	-5.73	-3.71	-1.38
Acquisitions	-0.67	-1.10	-0.37	-2.78	-1.82	-0.81	0.00	-6.21	-1.01	0.02	-0.86
Other Investing Activities, net	-	-	-	-	-	-	0.00	-	-	-	-2.00
Net Cash From Financing Activities	-21	1.17	-2.10	2.03	-0.06	1.42	-2.14	2.08	0.02	-19	2.28
Net Cash From Continuing Financing Activities	-21	1.17	-2.10	2.03	-0.06	1.42	-2.14	2.08	0.02	-19	2.28
Issuance of Common Equity	0.09	1.39	0.00	1.58	-	2.51	-0.01	2.15	0.03	1.39	0.00
Other Financing Activities, net	-3.23	-0.22	-2.10	0.45	-0.06	-1.09	-2.13	-0.07	-0.01	-0.00	2.28
Effect of Exchange Rate Changes	-0.63	0.78	-0.58	-0.34	0.09	-0.47	-0.01	1.00	-0.39	0.04	-0.65
Cash Interest Paid	2.48	2.50	2.48	2.47	2.49	2.30	2.15	2.18	2.19	2.08	1.94
Cash Income Taxes Paid	11	3.31	1.36	2.06	6.05	-1.28	1.23	1.77	1.37	1.43	1.99

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Total Assets	335	423	825	744	706	1,022	1,050	1,180	1,080	865	796
Total Current Assets	190	213	201	185	182	362	404	563	488	323	249
Cash & Equivalents	68	81	72	73	93	149	131	187	187	119	73
Restricted Cash	-	0.61	1.48	0.65	0.35	0.12	0.11	0.98	1.05	1.00	1.42
Accounts Receivable	42	50	66	59	50	67	120	171	171	85	46
Inventories, net	32	27	53	42	32	98	132	161	100	90	78
Prepaid Expenses	3.90	6.16	8.42	10	6.79	47	22	25	29	28	50
Plant, Property, & Equipment, net	22	21	23	18	17	39	61	79	66	59	49
Total Noncurrent Assets	123	189	601	540	507	621	585	538	526	482	499
Goodwill	50	76	238	238	238	303	307	307	319	319	319
Intangible Assets	51	104	315	245	188	207	153	109	74	55	49
Noncurrent Deferred & Refundable Income Taxes	-	0.12	40	52	67	86	89	66	69	69	77
Other Noncurrent Operating Assets	2.27	1.68	6.92	4.66	14	24	36	55	64	40	27
Other Noncurrent Nonoperating Assets	-	1.20	1.06	0.40	0.06	1.02	1.06	0.02	0.02	0.03	27
Total Liabilities & Shareholders' Equity	335	423	825	744	706	1,022	1,050	1,180	1,080	865	796
Total Liabilities	72	70	437	344	291	631	561	504	394	348	345
Total Current Liabilities	56	55	76	75	67	234	207	341	222	182	186
Accounts Payable	6.39	6.76	17	16	13	33	53	69	22	31	38
Accrued Expenses	35	32	42	45	44	154	98	213	170	131	99
Current Employee Benefit Liabilities	9.98	10	13	15	9.39	47	57	59	30	20	49
Total Noncurrent Liabilities	16	16	361	268	224	398	354	163	172	166	158
Long-Term Debt	-	0.00	348	256	207	364	306	122	122	123	124
Other Noncurrent Operating Liabilities	4.32	6.03	8.56	13	17	34	48	41	49	43	35
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	263	352	387	400	415	391	489	676	686	516	452
Total Preferred & Common Equity	263	352	387	400	415	391	489	676	686	516	452
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	263	352	387	400	415	391	489	676	686	516	452
Common Stock	385	414	456	493	530	602	657	723	809	887	951
Retained Earnings	-121	-60	-69	-94	-114	-212	-170	-45	-119	-364	-500
Accumulated Other Comprehensive Income / (Loss)	-0.82	-1.56	1.04	0.27	-0.89	1.44	2.13	-1.02	-3.79	-6.82	1.03

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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	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	9/30/2025	3/31/2026
Total Assets	1,183	1,198	1,161	1,104	1,031	973	895	855	864	808	771
Total Current Assets	563	594	554	509	445	398	328	320	330	284	249
Cash & Equivalents	181	208	225	187	192	185	148	103	109	112	61
Restricted Cash	0.97	0.96	1.04	1.11	1.03	1.01	0.99	1.27	0.00	1.38	1.43
Accounts Receivable	178	189	156	158	126	85	48	99	106	53	41
Inventories, net	166	150	126	115	96	95	96	86	86	86	86
Prepaid Expenses	18	28	26	33	29	32	35	31	30	32	60
Plant, Property, & Equipment, net	67	78	74	69	68	65	63	56	51	51	44
Total Noncurrent Assets	553	527	533	526	518	510	504	479	482	473	477
Goodwill	307	319	318	318	319	319	319	319	319	319	319
Intangible Assets	122	96	91	83	65	62	58	52	54	52	46
Noncurrent Deferred & Refundable Income Taxes	66	58	57	59	72	74	83	69	75	75	52
Other Noncurrent Operating Assets	58	54	67	65	62	56	44	40	33	28	33
Other Noncurrent Nonoperating Assets	0.03	0.02	0.02	0.02	0.02	0.02	0.02	0.03	1.64	0.02	27
Total Liabilities & Shareholders' Equity	1,183	1,198	1,161	1,104	1,031	973	895	855	864	808	771
Total Liabilities	567	464	415	401	393	356	338	362	375	343	317
Total Current Liabilities	351	300	242	233	224	190	169	197	213	184	147
Accounts Payable	91	55	46	45	32	36	31	18	27	31	33
Accrued Expenses	211	217	171	158	163	133	116	155	160	111	87
Current Employee Benefit Liabilities	49	29	25	30	28	22	22	24	27	41	27
Total Noncurrent Liabilities	215	164	174	168	169	166	170	165	162	160	170
Long-Term Debt	172	122	122	122	123	123	123	123	123	123	124
Other Noncurrent Operating Liabilities	44	42	52	46	46	43	47	42	39	36	47
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	616	734	746	703	638	617	557	493	488	465	454
Total Preferred & Common Equity	616	734	746	703	638	617	557	493	488	465	454
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	616	734	746	703	638	617	557	493	488	465	454
Common Stock	698	771	789	791	834	854	867	913	928	950	1,000
Retained Earnings	-76	-36	-40	-80	-191	-230	-306	-413	-440	-486	-546
Accumulated Other Comprehensive Income / (Loss)	-5.32	-1.21	-2.29	-7.94	-5.57	-6.52	-3.85	-5.97	0.33	0.16	0.12

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	125.64%	29.12%	8.38%	-8.40%	-17.61%	50.89%	86.46%	25.53%	-38.12%	-48.00%	29.71%
EBITDA Growth	515.90%	630.75%	-27.82%	-11.00%	-25.44%	-151.46%	781.50%	65.69%	-94.40%	-1,290.34%	50.27%
EBIT Growth	-371.42%	249.33%	-137.79%	21.84%	-18.48%	-362.39%	164.52%	178.33%	-132.20%	-295.92%	42.70%
NOPAT Growth	-392.76%	298.61%	-125.00%	11.88%	-15.50%	-358.53%	180.80%	126.18%	-120.68%	-484.37%	43.19%
Net Income Growth	-183.88%	406.64%	-114.99%	-185.17%	24.05%	-395.49%	142.57%	197.93%	-158.50%	-235.21%	44.26%
EPS Growth	-315.79%	215.19%	-115.38%	-171.43%	26.32%	-382.14%	139.26%	192.45%	-158.71%	-221.98%	46.08%
Operating Cash Flow Growth	349.90%	113.14%	-36.02%	36.80%	-23.70%	-6.07%	128.60%	131.06%	-88.84%	-204.43%	143.31%
Free Cash Flow Firm Growth	-388.00%	83.94%	-1,944.46%	114.29%	-43.19%	-492.93%	98.82%	11,721.82%	-127.65%	0.08%	22.41%
Invested Capital Growth	479.87%	62.82%	206.38%	-11.98%	-9.08%	14.37%	9.75%	-10.90%	4.91%	-16.22%	-8.77%
Revenue Q/Q Growth	28.42%	-2.96%	6.75%	-6.35%	-5.26%	35.24%	6.34%	3.96%	-19.25%	-8.43%	10.46%
EBITDA Q/Q Growth	59.17%	21.92%	7.04%	-19.45%	-1.03%	-63.33%	53.89%	2.56%	-85.29%	-1.48%	19.79%
EBIT Q/Q Growth	-8.11%	34.74%	-168.93%	-27.46%	8.51%	-18.24%	502.44%	7.04%	-334.05%	1.03%	14.53%
NOPAT Q/Q Growth	-10.59%	38.42%	-182.06%	-35.91%	11.21%	-18.42%	566.92%	1.87%	-227.90%	0.25%	17.16%
Net Income Q/Q Growth	44.71%	-8.17%	-149.37%	42.99%	-73.28%	-20.20%	485.78%	2.38%	-1,950.66%	-8.56%	23.91%
EPS Q/Q Growth	-8.22%	37.88%	-151.85%	42.42%	-64.71%	-20.54%	431.25%	1.97%	-2,175.00%	-6.93%	24.40%
Operating Cash Flow Q/Q Growth	122.70%	2.66%	-7.24%	2.42%	5.29%	168.28%	-25.71%	15.90%	-66.46%	-33.10%	205.34%
Free Cash Flow Firm Q/Q Growth	24.35%	9.55%	1.42%	-23.02%	57.05%	17.95%	-102.55%	31.33%	-27.12%	14.03%	16.71%
Invested Capital Q/Q Growth	-17.10%	-5.62%	-4.24%	-2.21%	-4.47%	-10.09%	8.25%	0.83%	-0.30%	-1.99%	-0.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	51.75%	59.30%	49.48%	54.23%	52.87%	44.46%	55.56%	58.00%	55.63%	54.03%	56.84%
EBITDA Margin	4.36%	24.68%	16.44%	15.97%	14.46%	-4.93%	18.02%	23.78%	2.15%	-49.25%	-18.88%
Operating Margin	-14.53%	16.26%	-5.16%	-4.96%	-6.95%	-21.13%	7.31%	16.09%	-5.51%	-61.95%	-27.13%
EBIT Margin	-14.10%	16.30%	-5.68%	-4.85%	-6.98%	-21.38%	7.40%	16.40%	-8.53%	-64.97%	-28.70%
Profit (Net Income) Margin	-6.65%	15.80%	-2.19%	-6.81%	-6.27%	-20.60%	4.70%	11.16%	-10.55%	-68.01%	-29.23%
Tax Burden Percent	46.59%	96.23%	27.02%	79.75%	61.25%	85.84%	87.67%	71.78%	114.63%	102.71%	97.01%
Interest Burden Percent	101.34%	100.74%	142.29%	175.91%	146.81%	112.26%	72.52%	94.82%	107.86%	101.92%	104.97%
Effective Tax Rate	0.00%	3.77%	0.00%	0.00%	0.00%	0.00%	12.33%	28.22%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-39.36%	34.87%	-3.46%	-2.15%	-2.78%	-12.49%	9.02%	20.62%	-4.42%	-27.43%	-17.88%
ROIC Less NNEP Spread (ROIC-NNEP)	-49.58%	34.42%	5.31%	-7.80%	-5.80%	-29.48%	1.17%	10.90%	56.99%	256.50%	-391.78%
Return on Net Nonoperating Assets (RNNOA)	28.32%	-14.95%	0.98%	-4.50%	-2.10%	-11.97%	0.51%	0.84%	-6.32%	-13.35%	-10.36%
Return on Equity (ROE)	-11.04%	19.92%	-2.48%	-6.65%	-4.88%	-24.46%	9.54%	21.46%	-10.74%	-40.78%	-28.23%
Cash Return on Invested Capital (CROIC)	-180.52%	-12.93%	-105.03%	10.59%	6.73%	-25.90%	-0.27%	32.15%	-9.21%	-9.78%	-8.70%
Operating Return on Assets (OROA)	-18.01%	16.70%	-3.83%	-2.38%	-3.05%	-11.84%	6.37%	16.47%	-5.23%	-24.09%	-16.16%
Return on Assets (ROA)	-8.50%	16.19%	-1.47%	-3.34%	-2.75%	-11.41%	4.05%	11.21%	-6.47%	-25.21%	-16.46%
Return on Common Equity (ROCE)	-11.04%	19.92%	-2.48%	-6.65%	-4.88%	-24.46%	9.54%	21.46%	-10.74%	-40.78%	-28.23%
Return on Equity Simple (ROE_SIMPLE)	-7.60%	17.39%	-2.37%	-6.55%	-4.80%	-25.21%	8.58%	18.49%	-10.66%	-47.49%	0.00%
Net Operating Profit after Tax (NOPAT)	-31	61	-15	-13	-15	-71	57	129	-27	-156	-89
NOPAT Margin	-10.17%	15.65%	-3.61%	-3.47%	-4.87%	-14.79%	6.41%	11.55%	-3.86%	-43.37%	-18.99%
Net Nonoperating Expense Percent (NNEP)	10.22%	0.45%	-8.77%	5.64%	3.02%	16.98%	7.85%	9.72%	-61.40%	-283.93%	373.91%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	16.21%	-3.31%	-24.46%	-15.43%
Cost of Revenue to Revenue	48.25%	40.70%	50.52%	45.77%	47.13%	55.54%	44.44%	42.00%	44.37%	45.97%	43.16%
SG&A Expenses to Revenue	25.96%	16.62%	25.18%	26.44%	27.98%	27.17%	16.80%	15.00%	19.06%	38.37%	34.12%
R&D to Revenue	28.43%	25.20%	26.71%	31.18%	31.01%	37.61%	31.20%	26.46%	38.87%	62.46%	44.61%
Operating Expenses to Revenue	66.28%	43.04%	54.63%	59.19%	59.82%	65.60%	48.25%	41.91%	61.14%	115.98%	83.98%
Earnings before Interest and Taxes (EBIT)	-42	63	-24	-19	-22	-102	66	184	-59	-234	-134
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	13	96	69	62	46	-24	161	266	15	-178	-88
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.45	3.99	4.57	3.03	3.66	7.24	11.83	3.94	2.83	3.23	3.37
Price to Tangible Book Value (P/TBV)	5.61	8.17	0.00	0.00	0.00	0.00	192.90	10.25	6.59	11.69	18.04
Price to Revenue (P/Rev)	3.02	3.63	4.21	3.15	4.79	5.92	6.48	2.38	2.80	4.63	3.26
Price to Earnings (P/E)	0.00	22.95	0.00	0.00	0.00	0.00	137.84	21.33	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	0.00%	4.36%	0.00%	0.00%	0.00%	0.00%	0.73%	4.69%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5.86	5.90	3.09	2.40	3.09	5.04	8.98	4.37	3.02	3.22	3.32
Enterprise Value to Revenue (EV/Rev)	2.59	3.28	4.86	3.63	5.15	6.37	6.68	2.31	2.70	4.64	3.36
Enterprise Value to EBITDA (EV/EBITDA)	59.28	13.28	29.57	22.70	35.60	0.00	37.07	9.69	125.55	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	20.11	0.00	0.00	0.00	0.00	90.30	14.06	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	20.95	0.00	0.00	0.00	0.00	104.20	19.96	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	14.11	10.84	27.22	13.59	20.84	41.40	35.43	6.64	43.18	0.00	80.14
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	21.23	43.71	0.00	0.00	12.80	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.90	0.64	0.50	0.93	0.63	0.18	0.18	0.24	0.27
Long-Term Debt to Equity	0.00	0.00	0.90	0.64	0.50	0.93	0.63	0.18	0.18	0.24	0.27
Financial Leverage	-0.57	-0.43	0.18	0.58	0.36	0.41	0.44	0.08	-0.11	-0.05	0.03
Leverage Ratio	1.30	1.23	1.69	1.99	1.78	2.14	2.35	1.91	1.66	1.62	1.72
Compound Leverage Factor	1.32	1.24	2.40	3.50	2.61	2.41	1.71	1.81	1.79	1.65	1.80
Debt to Total Capital	0.00%	0.00%	47.29%	39.01%	33.27%	48.18%	38.49%	15.26%	15.13%	19.24%	21.48%
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%	47.29%	39.01%	33.27%	48.18%	38.49%	15.26%	15.13%	19.24%	21.48%
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%	52.71%	60.99%	66.73%	51.82%	61.51%	84.74%	84.87%	80.76%	78.52%
Debt to EBITDA	0.00	0.00	5.03	4.16	4.51	-15.41	1.90	0.46	8.20	-0.69	-1.40
Net Debt to EBITDA	0.00	0.00	3.97	2.96	2.48	-9.09	1.09	-0.32	-4.42	-0.02	-0.56
Long-Term Debt to EBITDA	0.00	0.00	5.03	4.16	4.51	-15.41	1.90	0.46	8.20	-0.69	-1.40
Debt to NOPAT	0.00	0.00	-22.91	-19.13	-13.40	-5.14	5.35	0.94	-4.57	-0.79	-1.39
Net Debt to NOPAT	0.00	0.00	-18.08	-13.61	-7.37	-3.03	3.07	-0.66	2.47	-0.02	-0.56
Long-Term Debt to NOPAT	0.00	0.00	-22.91	-19.13	-13.40	-5.14	5.35	0.94	-4.57	-0.79	-1.39
Altman Z-Score	8.06	13.68	2.90	2.56	3.45	2.69	7.24	4.81	3.56	2.00	1.90
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	3.40	3.90	2.64	2.46	2.73	1.55	1.95	1.65	2.20	1.77	1.34
Quick Ratio	2.75	3.29	1.81	1.76	2.15	0.93	1.21	1.10	1.61	1.12	0.64
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-140	-23	-460	66	37	-147	-1.74	202	-56	-56	-43
Operating Cash Flow to CapEx	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%	155.73%
Free Cash Flow to Firm to Interest Expense	-1,401.43	-216.43	-44.34	4.61	3.35	-11.33	-0.10	20.65	-5.21	-5.13	-4.30
Operating Cash Flow to Interest Expense	550.41	1,128.05	7.23	7.20	7.04	5.68	9.23	39.80	4.05	-4.17	1.95
Operating Cash Flow Less CapEx to Interest Expense	520.45	1,046.20	6.52	6.65	6.42	4.72	7.08	35.57	2.80	-5.79	0.70
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.28	1.02	0.67	0.49	0.44	0.55	0.86	1.00	0.61	0.37	0.56
Accounts Receivable Turnover	9.86	8.35	7.21	6.13	5.77	8.12	9.54	7.71	4.06	2.82	7.11
Inventory Turnover	6.69	5.35	5.31	3.70	4.08	4.11	3.46	3.22	2.36	1.74	2.40
Fixed Asset Turnover	17.51	18.29	19.46	18.75	18.12	17.07	17.78	16.01	9.53	5.73	8.65
Accounts Payable Turnover	20.86	24.01	17.92	10.84	10.30	11.51	9.25	7.74	6.83	6.26	5.83
Days Sales Outstanding (DSO)	37.02	43.71	50.62	59.53	63.24	44.94	38.28	47.36	89.92	129.63	51.35
Days Inventory Outstanding (DIO)	54.52	68.25	68.77	98.56	89.42	88.81	105.64	113.36	154.53	209.48	152.32
Days Payable Outstanding (DPO)	17.50	15.20	20.36	33.69	35.44	31.72	39.45	47.15	53.47	58.28	62.66
Cash Conversion Cycle (CCC)	74.04	96.76	99.02	124.41	117.22	102.04	104.46	113.57	190.98	280.83	141.01
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	132	216	661	582	529	605	664	591	620	520	474
Invested Capital Turnover	3.87	2.23	0.96	0.62	0.57	0.84	1.41	1.79	1.14	0.63	0.94
Increase / (Decrease) in Invested Capital	110	83	445	-79	-53	76	59	-72	29	-101	-46
Enterprise Value (EV)	777	1,271	2,043	1,396	1,632	3,047	5,961	2,582	1,873	1,672	1,572
Market Capitalization	907	1,407	1,769	1,214	1,519	2,832	5,785	2,667	1,939	1,669	1,523
Book Value per Share	$4.27	$5.46	$5.79	$5.80	$5.80	$5.27	$6.38	$8.61	$8.41	$6.12	$5.17
Tangible Book Value per Share	$2.63	$2.67	($2.47)	($1.21)	($0.16)	($1.60)	$0.39	$3.31	$3.61	$1.69	$0.97
Total Capital	263	352	735	656	622	755	795	798	809	639	576
Total Debt	0.00	0.00	348	256	207	364	306	122	122	123	124
Total Long-Term Debt	0.00	0.00	348	256	207	364	306	122	122	123	124
Net Debt	-130	-136	274	182	114	215	175	-85	-66	3.42	49
Capital Expenditures (CapEx)	3.00	8.51	7.44	7.83	6.89	12	39	41	13	18	13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	23	29	52	36	22	-21	66	15	78	22	-11
Debt-free Net Working Capital (DFNWC)	134	158	125	110	115	128	197	222	266	141	63
Net Working Capital (NWC)	134	158	125	110	115	128	197	222	266	141	63
Net Nonoperating Expense (NNE)	-11	-0.61	-5.98	13	4.46	28	15	4.34	46	89	48
Net Nonoperating Obligations (NNO)	-130	-137	273	182	114	214	174	-85	-66	3.39	22
Total Depreciation and Amortization (D&A)	55	33	93	80	68	79	95	83	74	57	46
Debt-free, Cash-free Net Working Capital to Revenue	7.63%	7.40%	12.27%	9.42%	6.98%	-4.38%	7.40%	1.35%	11.19%	5.99%	-2.44%
Debt-free Net Working Capital to Revenue	44.67%	40.82%	29.72%	28.58%	36.32%	26.76%	22.04%	19.82%	38.35%	39.15%	13.43%
Net Working Capital to Revenue	44.67%	40.82%	29.72%	28.58%	36.32%	26.76%	22.04%	19.82%	38.35%	39.15%	13.43%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.79)	$0.96	($0.14)	($0.38)	($0.28)	($1.35)	$0.55	$1.60	($0.91)	($2.93)	($1.58)
Adjusted Weighted Average Basic Shares Outstanding	53.38M	63.78M	66.25M	68.49M	71.01M	73.13M	76.04M	78.04M	80.72M	83.60M	86.59M
Adjusted Diluted Earnings per Share	($0.79)	$0.91	($0.14)	($0.38)	($0.28)	($1.35)	$0.53	$1.55	($0.91)	($2.93)	($1.58)
Adjusted Weighted Average Diluted Shares Outstanding	53.38M	67.65M	66.25M	68.49M	71.01M	73.13M	79.68M	80.85M	80.72M	83.60M	86.59M
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	62.42M	65.11M	67.41M	69.56M	71.95M	74.54M	76.78M	78.75M	81.93M	84.63M	86.45M
Normalized Net Operating Profit after Tax (NOPAT)	-21	65	-7.10	-9.14	-14	-68	59	133	-11	-118	-72
Normalized NOPAT Margin	-6.89%	16.82%	-1.69%	-2.37%	-4.29%	-14.22%	6.63%	11.87%	-1.62%	-32.76%	-15.32%
Pre Tax Income Margin	-14.28%	16.42%	-8.09%	-8.53%	-10.24%	-24.00%	5.36%	15.55%	-9.20%	-66.21%	-30.13%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-423.38	607.90	-2.30	-1.31	-1.99	-7.90	3.62	18.81	-5.53	-21.54	-13.35
NOPAT to Interest Expense	-305.54	583.51	-1.46	-0.94	-1.39	-5.47	3.14	13.25	-2.50	-14.38	-8.83
EBIT Less CapEx to Interest Expense	-453.34	526.06	-3.02	-1.86	-2.61	-8.86	1.47	14.59	-6.79	-23.17	-14.60
NOPAT Less CapEx to Interest Expense	-335.50	501.66	-2.18	-1.49	-2.01	-6.43	0.99	9.02	-3.76	-16.00	-10.09
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	-4.03%	0.00%	-3.64%	0.00%	0.00%	0.00%	56.11%	25.20%	0.00%	0.00%	-14.63%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	86,451,150.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	86,451,150.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.52
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-52.57%	-56.86%	-61.65%	-49.99%	-40.16%	-26.47%	0.70%	18.29%	55.93%	48.03%	43.00%
EBITDA Growth	-134.50%	-138.87%	-219.50%	-271.86%	-200.86%	-10.70%	36.03%	34.06%	55.91%	81.31%	83.94%
EBIT Growth	-185.81%	-196.66%	-371.52%	-894.38%	-101.03%	5.89%	35.28%	28.38%	48.94%	58.41%	63.92%
NOPAT Growth	-137.69%	-192.99%	-604.15%	-587.55%	-274.58%	1.37%	38.23%	39.70%	38.14%	63.83%	62.67%
Net Income Growth	-240.20%	-223.87%	-858.51%	-802.46%	-90.28%	-50.23%	31.25%	32.29%	39.98%	74.24%	9.20%
EPS Growth	-240.00%	-228.95%	-833.33%	-840.00%	-83.67%	-38.78%	34.09%	34.04%	42.22%	75.00%	10.34%
Operating Cash Flow Growth	-120.71%	-123.90%	-62.12%	-108.82%	-140.24%	-67.97%	-171.38%	489.06%	132.94%	137.38%	22.18%
Free Cash Flow Firm Growth	-180.73%	-156.13%	-64.80%	185.41%	193.77%	223.24%	165.26%	-11.15%	-41.60%	-51.03%	-47.17%
Invested Capital Growth	6.09%	4.91%	-9.69%	-10.96%	-14.77%	-16.22%	-9.75%	-9.47%	-10.43%	-8.77%	-4.73%
Revenue Q/Q Growth	-26.32%	-7.51%	-24.00%	-3.44%	-11.84%	13.64%	4.09%	13.43%	16.22%	7.89%	0.55%
EBITDA Q/Q Growth	-249.67%	-5.99%	-130.55%	53.01%	-162.02%	61.00%	-33.23%	51.56%	-75.20%	83.47%	-14.52%
EBIT Q/Q Growth	-895.56%	-2.38%	-76.33%	44.67%	-101.27%	52.07%	-21.25%	38.77%	-43.49%	60.96%	-5.18%
NOPAT Q/Q Growth	-200.12%	-134.27%	-78.75%	45.29%	-63.51%	38.31%	-11.95%	46.60%	-67.74%	63.93%	-15.56%
Net Income Q/Q Growth	-815.40%	3.34%	-87.82%	45.70%	-93.00%	23.68%	14.05%	46.52%	-71.09%	67.25%	-202.99%
EPS Q/Q Growth	-880.00%	0.00%	-79.59%	46.59%	-91.49%	24.44%	14.71%	46.55%	-67.74%	67.31%	-205.88%
Operating Cash Flow Q/Q Growth	-141.83%	-29.56%	196.36%	-116.88%	-1,039.87%	9.41%	59.05%	192.01%	-3.48%	2.79%	-185.26%
Free Cash Flow Firm Q/Q Growth	-3.93%	-20.86%	114.92%	355.65%	14.11%	58.85%	-67.88%	52.62%	-25.00%	33.18%	-65.34%
Invested Capital Q/Q Growth	0.02%	-0.30%	-8.50%	-2.43%	-4.26%	-1.99%	-1.43%	-2.12%	-5.28%	-0.17%	2.94%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	54.56%	54.68%	51.71%	54.56%	54.35%	55.60%	56.11%	56.54%	56.86%	57.58%	57.50%
EBITDA Margin	-16.85%	-19.31%	-58.58%	-28.51%	-84.73%	-29.08%	-37.22%	-15.89%	-23.96%	-3.67%	-4.18%
Operating Margin	-13.15%	-33.30%	-78.32%	-44.37%	-82.30%	-44.67%	-48.05%	-22.62%	-32.65%	-10.92%	-12.54%
EBIT Margin	-29.91%	-33.11%	-76.82%	-44.02%	-100.49%	-42.38%	-49.37%	-26.65%	-32.91%	-11.91%	-12.46%
Profit (Net Income) Margin	-29.39%	-30.71%	-75.90%	-42.69%	-93.44%	-62.75%	-51.82%	-24.43%	-35.97%	-10.92%	-32.90%
Tax Burden Percent	95.93%	90.31%	97.62%	95.02%	91.86%	141.68%	101.45%	86.60%	104.83%	83.68%	242.00%
Interest Burden Percent	102.42%	102.72%	101.21%	102.06%	101.23%	104.51%	103.46%	105.86%	104.27%	109.58%	109.15%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-13.07%	-26.68%	-49.51%	-23.68%	-39.36%	-19.78%	-22.50%	-11.35%	-19.25%	-7.19%	-8.93%
ROIC Less NNEP Spread (ROIC-NNEP)	36.66%	-14.39%	-26.70%	-12.27%	14.86%	72.94%	45.50%	25.78%	182.31%	-42.13%	-133.98%
Return on Net Nonoperating Assets (RNNOA)	-3.06%	1.60%	3.42%	1.69%	-1.27%	-3.80%	-2.06%	-1.18%	-2.94%	-1.11%	-7.49%
Return on Equity (ROE)	-16.13%	-25.08%	-46.09%	-21.99%	-40.63%	-23.58%	-24.56%	-12.52%	-22.19%	-8.30%	-16.42%
Cash Return on Invested Capital (CROIC)	-7.26%	-9.21%	-6.21%	-9.24%	-11.25%	-9.78%	-15.01%	-13.76%	-10.33%	-8.70%	-8.87%
Operating Return on Assets (OROA)	-22.46%	-20.31%	-37.22%	-18.48%	-39.58%	-15.71%	-18.91%	-10.97%	-16.36%	-6.71%	-7.79%
Return on Assets (ROA)	-22.07%	-18.84%	-36.78%	-17.92%	-36.81%	-23.27%	-19.85%	-10.06%	-17.88%	-6.15%	-20.59%
Return on Common Equity (ROCE)	-16.13%	-25.08%	-46.09%	-21.99%	-40.63%	-23.58%	-24.56%	-12.52%	-22.19%	-8.30%	-16.42%
Return on Equity Simple (ROE_SIMPLE)	-0.51%	0.00%	-24.29%	-30.77%	-40.56%	0.00%	-45.14%	-42.99%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-12	-29	-52	-29	-47	-29	-32	-17	-29	-10	-12
NOPAT Margin	-9.20%	-23.31%	-54.83%	-31.06%	-57.61%	-31.27%	-33.63%	-15.84%	-22.86%	-7.64%	-8.78%
Net Nonoperating Expense Percent (NNEP)	-49.73%	-12.28%	-22.81%	-11.40%	-54.23%	-92.72%	-68.00%	-37.12%	-201.56%	34.94%	125.05%
Return On Investment Capital (ROIC_SIMPLE)	-	-3.61%	-	-	-	-4.51%	-5.24%	-2.82%	-4.91%	-1.81%	-2.08%
Cost of Revenue to Revenue	45.44%	45.32%	48.29%	45.44%	45.65%	44.40%	43.89%	43.46%	43.14%	42.42%	42.50%
SG&A Expenses to Revenue	18.74%	27.43%	38.30%	36.53%	37.18%	41.32%	38.14%	30.66%	37.70%	30.75%	30.95%
R&D to Revenue	48.92%	52.05%	67.98%	61.46%	64.86%	55.64%	57.81%	43.38%	42.90%	37.89%	38.75%
Operating Expenses to Revenue	67.71%	87.98%	130.04%	98.93%	136.65%	100.28%	104.16%	79.16%	89.51%	68.49%	70.04%
Earnings before Interest and Taxes (EBIT)	-41	-42	-73	-40	-81	-39	-47	-29	-42	-16	-17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-23	-24	-56	-26	-69	-27	-36	-17	-30	-5.01	-5.74
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.57	2.83	2.39	2.71	2.18	3.23	1.86	2.51	3.01	3.37	3.31
Price to Tangible Book Value (P/TBV)	5.98	6.59	5.98	7.07	6.74	11.69	7.47	10.64	14.88	18.04	16.86
Price to Revenue (P/Rev)	2.10	2.80	2.82	3.74	3.09	4.63	2.54	3.25	3.31	3.26	2.95
Price to Earnings (P/E)	0.00	0.00	0.00	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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.77	3.02	2.56	2.91	2.24	3.22	1.83	2.48	2.97	3.32	3.21
Enterprise Value to Revenue (EV/Rev)	2.01	2.70	2.69	3.59	3.02	4.64	2.60	3.29	3.33	3.36	3.07
Enterprise Value to EBITDA (EV/EBITDA)	16.98	125.55	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	68.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	13.32	43.18	84.52	0.00	0.00	0.00	0.00	0.00	0.00	80.14	70.65
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.17	0.18	0.19	0.20	0.22	0.24	0.25	0.25	0.27	0.27	0.27
Long-Term Debt to Equity	0.17	0.18	0.19	0.20	0.22	0.24	0.25	0.25	0.27	0.27	0.27
Financial Leverage	-0.08	-0.11	-0.13	-0.14	-0.09	-0.05	-0.05	-0.05	-0.02	0.03	0.06
Leverage Ratio	1.73	1.66	1.62	1.57	1.59	1.62	1.67	1.66	1.67	1.72	1.72
Compound Leverage Factor	1.78	1.70	1.64	1.60	1.61	1.69	1.73	1.76	1.74	1.88	1.87
Debt to Total Capital	14.82%	15.13%	16.11%	16.58%	18.07%	19.24%	19.98%	20.16%	20.99%	21.48%	21.42%
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	14.82%	15.13%	16.11%	16.58%	18.07%	19.24%	19.98%	20.16%	20.99%	21.48%	21.42%
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	85.18%	84.87%	83.89%	83.42%	81.93%	80.76%	80.02%	79.84%	79.01%	78.52%	78.58%
Debt to EBITDA	1.21	8.20	-1.40	-0.95	-0.70	-0.69	-0.78	-0.83	-1.12	-1.40	-2.12
Net Debt to EBITDA	-0.79	-4.42	0.80	0.49	0.15	-0.02	-0.12	-0.10	-0.09	-0.56	-1.05
Long-Term Debt to EBITDA	1.21	8.20	-1.40	-0.95	-0.70	-0.69	-0.78	-0.83	-1.12	-1.40	-2.12
Debt to NOPAT	-14.98	-4.57	-1.25	-1.00	-0.78	-0.79	-0.90	-0.99	-1.15	-1.39	-1.80
Net Debt to NOPAT	9.87	2.47	0.72	0.52	0.17	-0.02	-0.14	-0.12	-0.10	-0.56	-0.89
Long-Term Debt to NOPAT	-14.98	-4.57	-1.25	-1.00	-0.78	-0.79	-0.90	-0.99	-1.15	-1.39	-1.80
Altman Z-Score	3.55	3.61	2.61	3.07	2.03	2.75	1.26	1.74	2.11	2.39	2.60
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	2.18	2.20	1.99	2.09	1.95	1.77	1.63	1.55	1.55	1.34	1.70
Quick Ratio	1.55	1.61	1.42	1.42	1.16	1.12	1.02	1.00	0.90	0.64	0.70
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-48	-58	8.69	40	45	72	23	35	26	35	12
Operating Cash Flow to CapEx	-663.83%	-1,300.86%	191.44%	-89.48%	-743.73%	-1,269.40%	-573.15%	894.97%	176.72%	280.64%	-641.04%
Free Cash Flow to Firm to Interest Expense	-17.75	-20.02	3.21	14.64	17.02	25.62	9.21	14.01	9.96	14.70	5.54
Operating Cash Flow to Interest Expense	-4.71	-5.70	5.89	-1.00	-11.57	-9.94	-4.55	4.18	3.82	4.35	-4.04
Operating Cash Flow Less CapEx to Interest Expense	-5.42	-6.14	2.81	-2.11	-13.13	-10.72	-5.35	3.71	1.66	2.80	-4.67
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.75	0.61	0.48	0.42	0.39	0.37	0.38	0.41	0.50	0.56	0.63
Accounts Receivable Turnover	5.11	4.06	3.43	3.72	3.82	2.82	3.21	3.96	8.39	7.11	7.28
Inventory Turnover	2.69	2.36	2.00	1.87	1.72	1.74	1.78	1.85	2.03	2.40	2.54
Fixed Asset Turnover	12.57	9.53	7.40	6.44	5.92	5.73	5.83	6.49	7.40	8.65	10.19
Accounts Payable Turnover	5.56	6.83	5.64	5.06	4.79	6.26	6.38	5.36	5.96	5.83	8.51
Days Sales Outstanding (DSO)	71.49	89.92	106.43	98.05	95.56	129.63	113.76	92.10	43.48	51.35	50.13
Days Inventory Outstanding (DIO)	135.61	154.53	182.68	195.50	212.00	209.48	205.37	197.16	180.06	152.32	143.84
Days Payable Outstanding (DPO)	65.68	53.47	64.66	72.16	76.19	58.28	57.22	68.16	61.24	62.66	42.90
Cash Conversion Cycle (CCC)	141.43	190.98	224.45	221.39	231.38	280.83	261.91	221.09	162.29	141.01	151.07
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	622	620	568	554	530	520	512	501	475	474	488
Invested Capital Turnover	1.42	1.14	0.90	0.76	0.68	0.63	0.67	0.72	0.84	0.94	1.02
Increase / (Decrease) in Invested Capital	36	29	-61	-68	-92	-101	-55	-52	-55	-46	-24
Enterprise Value (EV)	1,722	1,873	1,452	1,611	1,188	1,672	938	1,242	1,410	1,572	1,565
Market Capitalization	1,803	1,939	1,523	1,674	1,215	1,669	919	1,227	1,400	1,523	1,503
Book Value per Share	$8.67	$8.41	$7.75	$7.43	$6.64	$6.12	$5.83	$5.65	$5.34	$5.17	$5.25
Tangible Book Value per Share	$3.72	$3.61	$3.09	$2.85	$2.15	$1.69	$1.45	$1.34	$1.08	$0.97	$1.03
Total Capital	825	809	761	740	680	639	616	612	588	576	578
Total Debt	122	122	123	123	123	123	123	123	123	124	124
Total Long-Term Debt	122	122	123	123	123	123	123	123	123	124	124
Net Debt	-81	-66	-70	-63	-27	3.42	19	15	10	49	61
Capital Expenditures (CapEx)	1.93	1.27	8.34	3.01	4.13	2.19	1.99	1.17	5.73	3.71	1.38
Debt-free, Cash-free Net Working Capital (DFCFNWC)	73	78	28	21	10	22	19	8.04	-13	-11	40
Debt-free Net Working Capital (DFNWC)	276	266	221	207	160	141	124	117	101	63	103
Net Working Capital (NWC)	276	266	221	207	160	141	124	117	101	63	103
Net Nonoperating Expense (NNE)	27	9.28	20	11	29	29	17	9.36	17	4.47	33
Net Nonoperating Obligations (NNO)	-81	-66	-70	-63	-27	3.39	19	13	10	22	34
Total Depreciation and Amortization (D&A)	18	17	17	14	13	12	12	12	11	11	11
Debt-free, Cash-free Net Working Capital to Revenue	8.50%	11.19%	5.17%	4.73%	2.59%	5.99%	5.39%	2.13%	-2.99%	-2.44%	7.92%
Debt-free Net Working Capital to Revenue	32.11%	38.35%	40.89%	46.26%	40.55%	39.15%	34.20%	30.86%	23.76%	13.43%	20.20%
Net Working Capital to Revenue	32.11%	38.35%	40.89%	46.26%	40.55%	39.15%	34.20%	30.86%	23.76%	13.43%	20.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.49)	($0.49)	($0.88)	($0.47)	($0.90)	($0.68)	($0.58)	($0.31)	($0.52)	($0.17)	($0.52)
Adjusted Weighted Average Basic Shares Outstanding	81.25M	80.72M	82.35M	83.48M	84.07M	83.60M	85.27M	86.63M	87.19M	86.59M	87.60M
Adjusted Diluted Earnings per Share	($0.49)	($0.49)	($0.88)	($0.47)	($0.90)	($0.68)	($0.58)	($0.31)	($0.52)	($0.17)	($0.52)
Adjusted Weighted Average Diluted Shares Outstanding	81.25M	80.72M	82.35M	83.48M	84.07M	83.60M	85.27M	86.63M	87.19M	86.59M	87.60M
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	81.56M	81.93M	83.13M	83.90M	84.36M	84.63M	86.37M	87.08M	87.37M	86.45M	89.55M
Normalized Net Operating Profit after Tax (NOPAT)	-12	-22	-36	-28	-27	-27	-27	-13	-21	-11	-12
Normalized NOPAT Margin	-9.17%	-17.36%	-38.20%	-30.40%	-33.38%	-28.95%	-27.88%	-12.25%	-16.62%	-7.74%	-8.54%
Pre Tax Income Margin	-30.63%	-34.01%	-77.75%	-44.92%	-101.72%	-44.29%	-51.08%	-28.21%	-34.31%	-13.05%	-13.60%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-14.93	-14.27	-26.99	-14.96	-30.70	-13.94	-18.91	-11.55	-15.71	-6.80	-7.78
NOPAT to Interest Expense	-4.59	-10.04	-19.27	-10.56	-17.60	-10.29	-12.89	-6.86	-10.91	-4.36	-5.48
EBIT Less CapEx to Interest Expense	-15.64	-14.71	-30.07	-16.08	-32.25	-14.72	-19.71	-12.01	-17.87	-8.35	-8.41
NOPAT Less CapEx to Interest Expense	-5.30	-10.48	-22.34	-11.67	-19.15	-11.07	-13.68	-7.33	-13.07	-5.91	-6.11
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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-14.63%	0.00%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, point-form view of MaxLinear (MXL) over the last four years, highlighting the key trends from quarterly income statements, cash flow statements, and balance sheets.

2025 revenue has been rebounding, with Q4 2025 revenue at $136.436 million, up from earlier 2025 quarters and higher than most 2024 levels.
Gross margin remains in the mid-to-high 50s percentage range, with Q4 2025 gross profit of $78.556 million on $136.436 million revenue (roughly 57.6%), indicating a stable gross profitability profile despite continued losses.
Operating cash flow turned positive in 2025, with Net Cash From Continuing Operating Activities around $10.1–$10.4 million in Q2–Q4 2025, signaling improving cash generation from operations.
Liquidity appears solid on a near-term basis, with current assets around $284 million and current liabilities around $184 million in mid-2025 (current ratio near 1.5x), suggesting manageable near-term liquidity.
Long-term debt sits in the low-to-mid $120 million range (about $123 million in mid-2025), providing a relatively stable leverage backdrop for planning, though interest costs remain a headwind.
Over the four-year window, revenue has shown volatility, including a notable peak in early 2023 and more recent rebound in 2025, contributing to an uneven earnings trajectory.
Net income has remained negative across the 2025 quarters, reflecting persistent profitability challenges (Q4 2025 net loss around $14.9 million; larger losses in prior 2025 quarters).
Total operating income is negative in 2025 (e.g., Q3 2025: about -$41.3 million; Q4 2025: about -$14.9 million), underscoring ongoing operating losses despite revenue gains.
Net cash from financing activities and net change in cash were negative in some 2025 periods, indicating that cash outflows from investing/financing offset operating cash inflows in certain quarters (Q4 2025 net change in cash around -$11.85 million).
High operating expenses relative to gross profit persist (for example, Q4 2025 SG&A about $41.96 million and RD about $51.69 million on gross profit of $78.56 million), which continues to pressure overall profitability.

05/18/26 06:52 AM ETAI Generated. May Contain Errors.

MaxLinear Financials - Frequently Asked Questions

According to the most recent income statement we have on file, MaxLinear's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

MaxLinear's net income appears to be on an upward trend, with a most recent value of -$136.68 million in 2025, rising from -$19.99 million in 2015. The previous period was -$245.20 million in 2024. See where experts think MaxLinear is headed by visiting MaxLinear's forecast page.

MaxLinear's total operating income in 2025 was -$126.89 million, based on the following breakdown:

Total Gross Profit: $265.81 million
Total Operating Expenses: $392.70 million

Over the last 10 years, MaxLinear's total revenue changed from $300.36 million in 2015 to $467.64 million in 2025, a change of 55.7%.

MaxLinear's total liabilities were at $344.50 million at the end of 2025, a 1.1% decrease from 2024, and a 381.3% increase since 2015.

In the past 10 years, MaxLinear's cash and equivalents has ranged from $67.96 million in 2015 to $187.35 million in 2022, and is currently $72.81 million as of their latest financial filing in 2025.

Over the last 10 years, MaxLinear's book value per share changed from 4.27 in 2015 to 5.17 in 2025, a change of 21.1%.

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Financial statements for NASDAQ:MXL last updated on 4/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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MaxLinear (MXL) Financials

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