MaxLinear (MXL) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

MaxLinear

NasdaqGS•Technology•Semiconductors

$65.28-10.51(-0.14%)After hours

Market Cap

$6.13B

P/S

9.3x

P/B

11.5x

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.

How this company scores

AverageMetricSide Score: 59/100

Strongest: Growth (20/25); weakest: Cash & Earnings Quality (8/25).

Profitability17/25

Growth20/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality8/25

Strengths

Growing revenueLong cash runwayLow leverageProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 38.9x5y range 21.3x – 136.8x

Currently above its 7-quarter median.

P/S · 9.3x5y range 2.1x – 17.2x

Currently above its 20-quarter median.

P/B · 11.5x5y range 1.9x – 20.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $6.13B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $660.53M
Q. Revenue: $218.06M
TTM EBITDA: $31.71M
TTM Op. Income: $-6.06M
Q. Op. Income: $30.23M
TTM Net Income: $-29.37M
Q. Net Income: $28.90M
EPS: $0.32
Shares Out.: $90.82M

$660.53M in TTM revenue grew 56.0% YoY, reaching $218.06M last quarter. TTM EBITDA of $31.71M and TTM operating income of $-6.06M show growth is flowing through to the bottom line. However, net income is negative at $29.37M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 58.7%
EBITDA Margin: 17.9%
Op. Margin: 13.9%
Net Margin: 13.3%

Op. margin of 13.9% is up 46.5% YoY — cost efficiency is improving. Net margin at 13.3% and gross margin of 58.7% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 9.3x
P/B Ratio: 11.5x

P/S of 9.3x and P/B of 11.5x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $916.43M
Cash: $81.08M
Long-Term Debt: $164.06M
Book Value: $533.01M
D/E Ratio: 0.3
Debt/EBITDA: 4.2

With $916.43M in assets and $164.06M in long-term debt, D/E is 0.3and book value is $533.01M — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 16% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-13.59M
TTM Free Cash Flow: $-20.62M
FCF Margin: -3.1%
FCF / Net Income: 0.7

TTM FCF of $-20.62M on $-13.59M in operating cash flow. The FCF / Net Income ratio of 0.7x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.