MaxLinear, Inc. (MXL) Stock Analysis
Technology · Semiconductors · NasdaqGS
MaxLinear, Inc. (MXL) posted $467.64M in revenue for fiscal 2025 (up 29.7% year over year), with a net loss of $136.68M, and has compounded revenue about -0.5%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on MaxLinear, Inc.
MaxLinear, Inc. has grown revenue from $387.83M to $467.64M over the last 10 fiscal years, compounding about -0.5% a year. The most recent year was up 29.7%, so growth is actually accelerating.
Net margin sits at -29.2%, up 38.8 points year over year on a 56.8% gross margin. It carries about $123.62M of total debt.
At today's valuation the market is pricing in roughly 64.3% annual free-cash-flow growth — versus the -35.1% it actually delivered over the last five years, so the price already assumes a step-up from the recent record. The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from MaxLinear, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
MaxLinear, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $387.83M | $420.32M | $385.00M | $317.18M | $478.60M | $892.40M | $1.12B | $693.26M | $360.53M | $467.64M |
| Gross profit | $229.99M | $207.96M | $208.77M | $167.69M | $212.80M | $495.83M | $649.77M | $385.66M | $194.78M | $265.81M |
| Net income | $61.29M | $-9.19M | $-26.20M | $-19.90M | $-98.59M | $41.97M | $125.04M | $-73.15M | $-245.20M | $-136.68M |
| Net margin | 15.8% | -2.2% | -6.8% | -6.3% | -20.6% | 4.7% | 11.2% | -10.6% | -68.0% | -29.2% |
Source: MaxLinear, Inc. SEC filings (10-K). 17 years of history available in the interactive view.
MaxLinear, Inc.: 3 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 12.6% over 4 years (76.8M → 86.5M) — existing holders' stakes are being diluted.
- Heavy debt loadTotal debt of $123.6M is 6.3× last year's operating cash flow — it would take years of cash flow to clear.
- Currently unprofitableThe latest fiscal year was a net loss (net margin -29.2%).
What growth is priced into MXL stock?
At today's market cap of $6.46B, MaxLinear, Inc. is priced for free-cash-flow growth of about 64.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $7.02M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -35.1%/yr over the last five fiscal years and revenue -0.5%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 17 years of MaxLinear, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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MaxLinear, Inc. financial history by metric
Compare MaxLinear, Inc. with peers
About MaxLinear, Inc.
MaxLinear, Inc. provides communications systems-on-chip solutions in the United States, Asia, Europe, and internationally. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management. Its products are used in various electronic devices, such as radio transceivers and modems for 4G/5G base-station and backhaul infrastructure; optical transceivers; wi-fi and wireline routers for home networking; broadband modems compliant with data over cable service interface specifications, passive optical fiber standards, and digital subscriber line, as well as power management and interface products. It serves electronics distributors, module makers, original equipment manufacturers, and original design manufacturers through a direct sales force, third-party sales representatives, and a network of distributors. The company has a strategic collaboration with Edgecore Networks Corporation for the development network infrastructure for enterprise and SMB applications. MaxLinear, Inc. has strategic partnership with GCT Semiconductor Holding, Inc. to develop 5G fixed wireless access (FWA) gateways and converged gateways for consumer and enterprise applications. The company was incorporated in 2003 and is headquartered in Carlsbad, California. The company was incorporated in 2003 and is headquartered in Carlsbad, California.
MaxLinear, Inc. — frequently asked questions
What is MaxLinear, Inc.'s revenue?
MaxLinear, Inc. (MXL) reported revenue of $467.64M for fiscal year 2025, up 29.7% from the prior year, according to its SEC filings.
Is MaxLinear, Inc. profitable?
No — MXL reported a net loss of $-136.68M in fiscal 2025.
What is MXL's P/E ratio?
MaxLinear, Inc. trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is MaxLinear, Inc. growing?
MXL's revenue grew at roughly -0.5% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does MaxLinear, Inc. have?
As of fiscal year 2025, MXL carried roughly $123.62M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is MaxLinear, Inc.'s gross margin?
MXL's gross margin was 56.8% in fiscal 2025 — gross profit of $265.81M on revenue of $467.64M.
What is MaxLinear, Inc.'s market cap?
MaxLinear, Inc. (MXL) has a market capitalization of about $6.46B, based on the latest data in our nightly-refreshed cache.
When does MaxLinear, Inc.'s fiscal year end?
MXL's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into MXL stock?
At today's market cap of $6.46B, MaxLinear, Inc. is priced for free-cash-flow growth of about 64.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $7.02M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -35.1%/yr over the last five fiscal years and revenue -0.5%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from MaxLinear, Inc.'s official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.