MACOM Technology Solutions Holdings, Inc. (MTSI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$1.35	$1.4	+3.7%	—	$342.2M	—
Q2 26	$1.07	$1.09	+1.9%	—	$289M	—
Q1 26	$1	$1.02	+2.0%	—	$271.6M	—
Q4 25	$0.45	$0.51	+13.3%	—	$261.2M	—
Q3 25	$0.9	$0.9	0.0%	—	$252.1M	—
Q2 25	$0.84	$0.85	+1.2%	—	$235.9M	—
Q1 25	$0.78	$0.79	+1.3%	—	$218.1M	—
Q4 24	$0.73	$0.73	0.0%	—	$200.7M	—
Q3 24	$0.66	$0.66	0.0%	—	$190.5M	—
Q2 24	$0.59	$0.59	0.0%	—	$181.2M	—
Q1 24	$0.57	$0.58	+1.8%	—	$157.1M	—
Q4 23	$0.55	$0.56	+1.8%	—	$150.4M	—
Q3 23	$0.54	$0.54	0.0%	—	$148.5M	—
Q2 23	$0.78	$0.79	+1.3%	—	$169.4M	—
Q1 23	$0.8	$0.81	+1.3%	—	$180.1M	—
Q4 22	$0.76	$0.77	+1.3%	—	$178.1M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$0.73	—	—	$967.3M	—
FY24	—	$1.07	—	—	$729.6M	—
FY23	—	$1.29	—	—	$648.4M	—
FY22	—	$6.3	—	—	$675.2M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$544.3M	$698.8M	$570.4M	$499.7M	$530M	$606.9M	$675.2M	$648.4M	$729.6M	$967.3M
YoY change	+29.4%	+28.4%	-18.4%	-12.4%	+6.07%	+14.5%	+11.2%	-3.96%	+12.5%	+32.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	544.3M	698.8M	570.4M	499.7M	530M	606.9M	675.2M	648.4M	729.6M	967.3M
Cost of revenue	262.7M	371.9M	324.7M	279M	259.9M	265.1M	269M	262.6M	335.8M	438.3M
Gross profit	281.6M	326.9M	245.7M	220.7M	270.2M	341.9M	406.2M	385.8M	393.8M	529M
Gross margin	51.7%	46.8%	43.1%	44.2%	51%	56.3%	60.2%	59.5%	54%	54.7%
Research & development	107.7M	148M	177.7M	163.5M	141.3M	138.8M	148.2M	148.5M	182.2M	244.5M
Selling, general & administrative	145.4M	187.9M	161.7M	153.3M	124.3M	122M	125.3M	129.9M	137.9M	154.9M
Operating expenses	253.1M	335.9M	339.4M	316.8M	265.6M	260.9M	273.5M	278.4M	320.1M	399.4M
Operating income	28.5M	-9M	-93.7M	-96M	4.5M	81M	132.7M	107.4M	73.7M	129.7M
Operating margin	5.23%	-1.29%	-16.4%	-19.2%	0.85%	13.3%	19.7%	16.6%	10.1%	13.4%
Non-operating income, net	-31.6M	-11.7M	-30.2M	-291.3M	-18.7M	-17.5M	114.7M	-665K	10K	-183M
Pretax income	-21.6M	-49.5M	-155.2M	-423.2M	-41.6M	42.9M	243.1M	115.2M	91.5M	-29M
Income tax	-18M	100.9M	-21.5M	-39.4M	4.5M	5M	-196.8M	23.6M	14.7M	25.2M
Net income	1.4M	-169.5M	-140M	-383.8M	-46.1M	38M	440M	91.6M	76.9M	-54.2M
Net margin	0.26%	-24.3%	-24.5%	-76.8%	-8.69%	6.26%	65.2%	14.1%	10.5%	-5.6%
EBITDA	99.1M	82M	-26.3M	632K	78.7M	146.1M	308.9M	179.7M	163.9M	232.9M
EPS	0.03	-2.79	-2.16	-5.88	-0.69	0.55	6.3	1.29	1.07	-0.73
Diluted EPS	0.03	-2.79	-2.57	-5.88	-0.69	0.54	6.18	1.28	1.04	-0.73

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	150.4M	157.1M	181.2M	190.5M	200.7M	218.1M	235.9M	252.1M	261.2M	271.6M	289M	342.2M
Cost of revenue	63.7M	69.8M	86M	89.1M	90.9M	101M	105.7M	112.6M	118.9M	119.8M	124.5M	142.7M
Gross profit	86.6M	87.3M	95.2M	101.4M	109.8M	117.1M	130.2M	139.4M	142.3M	151.8M	164.4M	199.6M
Gross margin	57.6%	55.6%	52.5%	53.2%	54.7%	53.7%	55.2%	55.3%	54.5%	55.9%	56.9%	58.3%
Research & development	37.5M	39.4M	45.6M	47.5M	49.6M	60.4M	57.8M	63.4M	62.9M	66.5M	69M	74.3M
Selling, general & administrative	33.5M	36.9M	34.2M	34.2M	32.7M	39.2M	37.4M	38.4M	39.8M	42M	44.6M	48.1M
Operating expenses	71M	76.3M	79.8M	81.7M	82.3M	99.6M	95.3M	101.8M	102.7M	108.5M	113.6M	122.4M
Operating income	15.6M	11M	15.4M	19.7M	27.5M	17.5M	34.9M	37.7M	39.6M	43.3M	50.8M	77.1M
Operating margin	10.4%	7.01%	8.5%	10.4%	13.7%	8.04%	14.8%	14.9%	15.2%	15.9%	17.6%	22.5%
Non-operating income, net	-458K	—	—	—	—	-193.1M	—	—	10.1M	—	—	41.5M
Pretax income	19M	15.3M	19.5M	24.2M	32.5M	-169.9M	40.9M	44.1M	55.9M	49.6M	56.9M	123.8M
Income tax	-5.5M	2.8M	4.5M	4.3M	3.1M	-2.4M	9.3M	7.5M	10.8M	822K	10.6M	23.1M
Net income	24.4M	12.5M	15M	19.9M	29.4M	-167.5M	31.7M	36.5M	45.1M	48.8M	46.3M	100.7M
Net margin	16.3%	7.97%	8.27%	10.5%	14.7%	-76.8%	13.4%	14.5%	17.3%	18%	16%	29.4%
EBITDA	49.5M	30.9M	38M	43.5M	51.6M	40.5M	56.9M	60.1M	75.3M	66.7M	74.2M	99.4M
EPS	0.34	0.18	0.21	0.28	0.41	-2.3	0.43	0.49	0.61	0.65	0.62	1.32
Diluted EPS	0.34	0.17	0.2	0.27	0.39	-2.3	0.42	0.48	0.59	0.64	0.6	1.28

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.3B	—	1.3B	1.4B	2.3B	4.4B	3.6B	5.8B	8B	9.2B	21.3B
Enterprise value	2.5B	—	1.8B	1.9B	2.6B	4.6B	3.6B	5.7B	7.9B	9B	21.6B
Shares outstanding	53.4M	60.7M	64.7M	65.7M	66.6M	68.4M	69.8M	70.8M	72M	74M	74M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	1.6K	—	—	—	—	116.9	8.21	63.1	104.2	—	88.9
P/S	4.15	—	2.34	2.83	4.27	7.32	5.35	8.91	11	9.52	18.3
P/B	4.88	—	1.99	4.5	7.55	9.41	4.29	6.1	7.11	6.94	13.8
EV/EBITDA	25.1	—	-69.7	3.1K	33.4	31.7	11.7	32	48.3	38.5	78.1
EV/Sales	4.57	—	3.22	3.86	4.96	7.62	5.37	8.87	10.8	9.27	18.5
Earnings yield	0.06%	—	—	—	—	0.86%	12.2%	1.59%	0.96%	—	1.12%
FCF yield	2.12%	—	-1.26%	-1.22%	6.79%	2.94%	4.16%	2.46%	1.75%	1.66%	0.49%
PEG	—	—	—	—	—	—	—	—	—	—	0.52

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	51.7%	46.8%	43.1%	44.2%	51%	56.3%	60.2%	59.5%	54%	54.7%	58.3%
Operating margin	5.23%	-1.29%	-16.4%	-19.2%	0.85%	13.3%	19.7%	16.6%	10.1%	13.4%	23.3%
Net margin	0.26%	-24.3%	-24.5%	-76.8%	-8.69%	6.26%	65.2%	14.1%	10.5%	-5.6%	20.7%
ROE	0.31%	-21.8%	-20.9%	-122.3%	-15.4%	8.05%	52.2%	9.66%	6.82%	-4.08%	17.2%
ROA	0.12%	-10.4%	-11.5%	-34.7%	-4.02%	3.35%	28%	5.9%	4.38%	-2.58%	6.38%
ROIC	4.13%	-0.72%	-8%	-11.6%	0.68%	10.9%	15.5%	9.28%	5.99%	12%	14.1%
Return on tangible assets	0.33%	72.9%	-156.8%	-337.7%	-18.1%	11.3%	52%	11.9%	8.18%	-4.26%	17.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	6.65	4.81	4.29	5.33	5.07	5.61	8.36	9.11	8.35	3.71	2.34
Quick ratio	5.4	3.64	3.14	3.88	4.11	4.72	7.18	7.48	6.55	2.98	1.78
Debt / equity	1.26	0.88	1.04	2.21	2.32	1.12	0.71	0.51	0.43	0.41	0.27
Debt / assets	0.49	0.42	0.57	0.63	0.61	0.47	0.38	0.31	0.28	0.26	0.18
Net debt / EBITDA	2.29	5.76	-19.1	816.5	4.62	1.26	0.05	-0.15	-0.57	-1.06	-0.9
Interest coverage	-0.17	-0.72	-3.95	-10.8	-0.52	2.95	29.4	10.3	18.8	-4.26	44.1
Effective tax rate	0%	0%	0%	0%	0%	11.6%	0%	20.5%	16%	0%	15.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	10.2	11.5	8.81	7.61	7.96	8.87	9.68	9.16	10.1	13.1	15.5
EPS (basic)	0.03	-2.79	-2.16	-5.88	-0.69	0.55	6.3	1.29	1.07	-0.73	-0.73
EPS (diluted)	0.03	-2.79	-2.57	-5.88	-0.69	0.54	6.18	1.28	1.04	-0.73	3.14
Book value per share	8.67	12.8	10.3	4.78	4.51	6.89	12.1	13.4	15.7	17.9	20.2
FCF per share	0.9	0.47	-0.26	-0.26	2.31	1.91	2.16	2.01	1.95	2.07	1.58
Cash per share	6.69	3.53	2.98	2.69	5	5.04	8.41	7.27	8.09	10.6	8.68
Capex per share	0.59	0.54	0.82	0.58	0.26	0.26	0.38	0.24	0.31	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	5.75%	4.69%	9.3%	7.6%	3.32%	2.91%	3.92%	2.57%	3.08%	—	—
Capex / operating cash flow	64.1%	35%	290.1%	-14.6%	13.5%	12.9%	9.07%	8.31%	12.9%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$150.4M	$157.1M	$181.2M	$190.5M	$200.7M	$218.1M	$235.9M	$252.1M	$261.2M	$271.6M	$289M	$342.2M
YoY change	-15.6%	-12.7%	+6.98%	+28.3%	+33.5%	+38.8%	+30.2%	+32.3%	+30.1%	+24.5%	+22.5%	+35.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	356.8M	214.2M	192.9M	176.7M	333.2M	344.9M	586.5M	514.5M	581.9M	786M
Receivables	108.3M	136.1M	97.4M	69.8M	45.9M	84.6M	101.6M	91.3M	105.7M	148.6M
Inventory	114.9M	136.1M	122.8M	107.9M	91.6M	82.7M	115M	136.3M	194.5M	237.8M
Total current assets	612.9M	562.9M	458.9M	398.6M	481.5M	521.5M	813.1M	761.2M	903.1M	1.2B
Property, plant & equipment	99.2M	131M	149.9M	132.6M	118.9M	120.5M	123.7M	149.5M	176M	199.4M
Goodwill & intangibles	759.3M	1.9B	1.1B	991.9M	891.8M	797.9M	725.3M	780.8M	816.6M	829.8M
Total assets	1.2B	1.6B	1.2B	1.1B	1.1B	1.1B	1.6B	1.6B	1.8B	2.1B
Accounts payable	30.6M	47M	42M	24.8M	23M	28.7M	30.7M	25M	43.2M	67.6M
Short-term debt	7.2M	7.7M	7.4M	8M	15.9M	8.4M	7.5M	8.4M	8.4M	167.9M
Total current liabilities	92.2M	117.1M	107M	74.8M	95M	93M	97.2M	83.5M	108.2M	325.1M
Long-term debt	576.3M	678.7M	687.4M	684.8M	681.2M	520.1M	593M	478.9M	479.4M	370.1M
Total liabilities	725.8M	859.7M	813.8M	791.7M	846.3M	662.4M	729.1M	605.6M	629.3M	776.3M
Shareholders' equity	462.8M	777.4M	668.7M	313.9M	300.1M	471.7M	842.7M	947.6M	1.1B	1.3B
Total debt	583.5M	686.4M	694.7M	692.7M	697M	528.5M	600.4M	487.3M	487.8M	538M
Net debt	250.6M	556.3M	600.1M	617.2M	567.6M	372M	480.5M	313.4M	341M	425.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	514.5M	463.3M	476.4M	521.5M	581.9M	656.5M	681.5M	735.2M	786M	768.5M	664.9M	663M
Receivables	91.3M	101.1M	120.2M	106.8M	105.7M	91.8M	131.4M	129.5M	148.6M	160.1M	159.6M	179.1M
Inventory	136.3M	159.5M	177.8M	190.7M	194.5M	198.4M	209.3M	215.4M	237.8M	238.9M	252.2M	281.5M
Total current assets	761.2M	745M	798.4M	843.6M	903.1M	982.4M	1.1B	1.1B	1.2B	1.2B	1.1B	1.2B
Property, plant & equipment	149.5M	184.3M	180.2M	179M	176M	163.1M	167M	178.5M	199.4M	204.3M	204.7M	216.3M
Goodwill & intangibles	780.8M	884M	846.8M	831.7M	816.6M	849.7M	836.8M	823.6M	829.8M	817.1M	806M	793.9M
Total assets	1.6B	1.7B	1.7B	1.7B	1.8B	1.8B	1.9B	2B	2.1B	2.1B	2B	2.1B
Accounts payable	25M	27.1M	44.3M	40.3M	43.2M	44.6M	61.3M	60.6M	67.6M	63.8M	62.1M	72.8M
Short-term debt	8.4M	1.1M	948K	808K	8.4M	161.3M	161.5M	161.5M	167.9M	161.2M	7M	347.5M
Total current liabilities	83.5M	102.9M	108.9M	103.1M	108.2M	272.4M	298.8M	294.6M	325.1M	304.5M	149.7M	501.5M
Long-term debt	478.9M	479M	479.1M	479.3M	479.4M	369.7M	369.9M	370M	370.1M	370.2M	370.3M	30M
Total liabilities	605.6M	626.7M	630.8M	624.2M	629.3M	692.7M	716.5M	739.9M	776.3M	752.4M	596.8M	606M
Shareholders' equity	947.6M	1B	1B	1.1B	1.1B	1.2B	1.2B	1.3B	1.3B	1.4B	1.4B	1.5B
Total debt	487.3M	480.1M	480.1M	480.1M	487.8M	531M	531.4M	531.6M	538M	531.5M	377.3M	377.5M
Net debt	313.4M	316.5M	365.1M	362.8M	341M	298.3M	420.4M	406.1M	425.8M	411.8M	278.8M	287.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.4M	-169.3M	-146.6M	-383.8M	-46.1M	38M	440M	91.6M	76.9M	-54.2M
Depreciation & amortization	70.6M	93M	112.4M	104.4M	78.8M	70M	57.2M	52.2M	67.2M	63.3M
Stock-based compensation	27M	36.3M	31.9M	23.8M	35.7M	35M	41.2M	38.1M	45.6M	79.4M
Change in working capital	-49.5M	-8.8M	30.8M	32.1M	53.5M	-23.9M	-46.6M	-5.5M	-27.1M	-42.8M
Operating cash flow	48.9M	93.7M	18.3M	-260.5M	130.6M	136.9M	292M	200.9M	174.1M	235.4M
Capital expenditure	-31.3M	-32.8M	-53M	-38M	-17.6M	-17.7M	-26.5M	-16.7M	-22.4M	—
Investing cash flow	-102.4M	-363.1M	-71.9M	-33.9M	-107.2M	-2.3M	-182.8M	36.3M	-181.1M	-246.1M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-10M	-18.5M	-6.8M	-4.1M	-6.7M	-23.4M	-36M	-32.6M	-14.2M	-43.1M
Financing cash flow	221.9M	65.4M	-11.4M	-13M	-15.3M	-125.9M	-37M	-154.6M	-15.7M	47.8M
Net change in cash	168.4M	-204M	-65M	-307.4M	8.1M	8.7M	72.2M	82.7M	-22.7M	37.1M
Free cash flow	47.9M	28.2M	-16.8M	-17.3M	153.8M	130.5M	150.5M	142.2M	140.2M	153.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	24.4M	12.5M	15M	19.9M	29.4M	-167.5M	31.7M	36.5M	45.1M	48.8M	46.3M	100.7M
Depreciation & amortization	13.7M	14.3M	17.2M	17.9M	17.8M	16M	14.8M	14.8M	17.6M	15.4M	15.6M	15.7M
Stock-based compensation	9.3M	8.7M	12.1M	13.3M	11.6M	25.5M	18.8M	17.3M	17.8M	22.1M	22.6M	21.1M
Change in working capital	14.8M	-7M	-17.4M	-4.7M	1.9M	14.2M	-33.4M	-3.5M	-20.2M	-20.4M	-13.7M	-38.7M
Operating cash flow	64.8M	27M	30.6M	55.5M	61M	-121.1M	36M	60.4M	69.6M	42.9M	78.7M	80M
Capital expenditure	-5.8M	-4.7M	-5.1M	-7.5M	-5.2M	-5.3M	-8.2M	—	—	—	—	—
Investing cash flow	123.7M	-34.8M	-65.3M	-46.4M	-32.5M	-10.2M	-163M	-50.2M	-51M	26M	81M	-7.2M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-140K	-11.6M	—	—	-342K	—	—	—	-451K	—	—	—
Financing cash flow	-121.2M	-11.9M	-354K	-359K	-711K	63.5M	-491K	28.3M	-777K	-1.5M	-160.9M	-1M
Net change in cash	67.3M	-19.7M	-35.1M	8.8M	27.8M	-67.8M	-127.5M	38.5M	17.8M	67.5M	-1.2M	71.8M
Free cash flow	44.5M	28.4M	13.1M	41.5M	57.1M	61.3M	36.6M	31.6M	38.6M	25.7M	62.4M	-2.8M

MACOM Technology Solutions Holdings, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement