MACOM Technology Solutions Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MACOM Technology Solutions Holdings, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	544	699	570	500	530	607	675	648	730	967
Cost of revenue	263	372	325	279	260	265	269	263	336	438
Gross profit	282	327	246	221	270	342	406	386	394	529
Research and development	108	148	178	163	141	139	148	149	182	244
Selling, general and administrative	145	188	162	153	124	122	125	130	138	155
Operating expenses	268	343	352	601	267	261	274	278	320	399
Operating income	13.2	-16.1	-107	-380	3.39	81	133	107	73.7	130
Interest expense	18.4	28.9	31.3	35.8	27.4	22.1	8.55	12.4	5.14	5.52
Interest income						1.5	4.3	20.8	23	29.9
Other non-operating income	-34.8	-33.4	-48.7	-42.8	-45	-38.1	110	7.76	17.9	-159
Pre-tax income	-21.6	-49.5	-155	-423	-41.6	42.9	243	115	91.5	-29
Income tax	-18	101	-21.5	-39.4	4.52	4.97	-197	23.6	14.7	25.2
Income from continuing operations	-3.59	-150	-134	-384	-46.1
Net income	1.43	-169	-140	-384	-46.1	38	440	91.6	76.9	-54.2
EBITDA	83.8	76.9	5.86	-276	82.2	151	190	160	141	193
EPS, basic	0.03	-2.79	-2.16	-5.84	-0.69	0.55	6.30	1.29	1.07	-0.73
EPS, diluted	0.03	-2.79	-2.57	-5.84	-0.69	0.54	6.18	1.28	1.04	-0.73
Shares, basic (weighted)	53.4	60.7	64.7	65.7	66.6	68.4	69.8	70.8	72	74
Shares, diluted (weighted)	53.4	60.7	65.3	65.7	66.6	70.5	71.2	71.5	73.6	74

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	333	130	94.7	75.5	129	157	120	174	147	112
Short-term investments	23.8	84.1	98.2	101	204	188	467	341	435	674
Receivables	108	136	97.4	69.8	45.9	84.6	102	91.3	106	149
Inventory	115	136	123	108	91.6	82.7	115	136	194	238
Other current assets	11.3	22.4	23.3	27.5	10.9	9.37	10	19.1	21	32.6
Total current assets	613	563	459	399	482	522	813	761	903	1,205
Property, plant and equipment	99.2	131	150	133	119	121	124	149	176	230
Lease right-of-use assets					33.3	29.9	25.5	25.6	29.3	31.9
Goodwill	120	314	314	315	315	314	311	323	332	336
Intangible assets	260	621	513	181	131	84.7	51.3	67	76.1	78.6
Long-term investments						67.8	98.4	75	151	0
Other non-current assets	7.21	7.4	13.5	11	40.5	38.3	34.9	34.1	55.8	45.1
Total assets	1,189	1,637	1,482	1,106	1,146	1,134	1,572	1,553	1,756	2,103
Accounts payable	30.6	47	42	24.8	23	28.7	30.7	25	43.2	67.6
Accrued liabilities	54.4	58.2	49.9	42	63.7	63.4	65.5	57.4	64.3	96
Deferred revenue	0.34	1.99	7.76	2.14
Short-term debt	6.05	6.89	6.89	6.89	6.89		0		0	161
Total current liabilities	92.2	117	107	74.8	95	93	97.2	83.5	108	325
Long-term debt	574	661	658	655	652	492	566	447	448	340
Lease liabilities					31.8	28.6	24.1	22.8	24.2	28.4
Other non-current liabilities	7.25	7.94	5.9	19.7	44.9	40.5	29.4	33.9	32.7	44
Total liabilities	726	860	814	792	846	662	729	606	629	776
Total debt	580	668	665	662	659	492	566	447	448	501
Paid-in capital	552	1,042	1,075	1,102	1,135	1,270	1,203	1,214	1,310	1,562
Retained earnings	-97.5	-267	-408	-792	-840	-802	-354	-263	-186	-240
Treasury stock	-0.33	-0.33	-0.33	-0.33	-0.33	-0.33	-0.33	-0.33	-0.33	-0.33
Other comprehensive income	9.04	2.98	2.19	4.36	5.01	4.15	-5.85	-3.64	2.51	5.03
Shareholders' equity	463	777	669	314	300	472	843	948	1,126	1,327
Total equity	463	777	669	314	300	472	843	948	1,126	1,327
Total liabilities and equity	1,189	1,637	1,482	1,106	1,146	1,134	1,572	1,553	1,756	2,103
Shares outstanding	53.7	64.3	65.2	66.2	66.9	68.9	70	71	72.2	74.5

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	1.43	-169	-140	-384	-46.1	38	440	91.6	76.9	-54.2
Depreciation and amortization	70.6	93	112	104	78.8	70	57.2	52.2	67.2	63.3
Stock-based compensation	27	36.3	31.9	23.8	35.7	35	41.2	38.1	45.6	79.4
Deferred income tax	-12.3	93.3	-16.1	-40.3	3.34	2.46	-200	20.2	4.84	4.5
Change in receivables	-17.2	-15.8	38.7	27.6	23.9	-38.7	-17	12.3	-16.8	-42
Change in inventory	-24.7	-4.09	-2.17	15	16.3	8.89	-32.3	-10.6	-30.2	-26.6
Change in payables	-1.08	3.45	-2.61	-12.2	-1.6	5.81	2.38	-6.73	18.2	22.2
Cash from operations	79.2	61.1	36.3	20.7	171	148	177	167	163	235
Capital expenditures	-31.3	-32.8	-53	-38	-17.6	-18	-26.5	-24.7	-22.4	-42.6
Acquisitions	-85.5	-270	-1	-0.38	0	0	0	-87.7	-72.6	-12.7
Purchases of investments	-36.3	-105	-114	-174	-285	-194	-529	-375	-427	-592
Sales and maturities of investments	51.6	44.6	100	173	184	209	245	516	345	360
Cash from investing	-94.9	-338	-67.1	-33.9	-107	-2.58	-183	36.3	-181	-328
Debt repaid						-544
Stock issued	0	0
Share buybacks	-10	-18.5	-6.83	-4.14	-6.71	-23.4	-36	-32.6	-14.2	-43.1
Cash from financing	227	73.7	-4.45	-5.83	-10.7	-119	-28.9	-149	-9.06	58.1
Exchange rate effect	-1.06	-0.01	-0.15	-0.14	0.44	0.36	-1.8	-0.24	0.41	0.13
Net change in cash	211	-203	-35.4	-19.2	53.9	27.1	-36.6	54	-27.1	-34.7
Free cash flow	47.9	28.2	-16.8	-17.3	154	130	150	142	140	193
Interest paid	16.3	30.5	29.7	34.2	24.7	11.8	6.74	10.8	3.99	3.22
Income taxes paid	-0.37	-3.16	3.56	-1.93	-17.5	1.62	2.19	2.87	6	16.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 3, 2026; growth uses fiscal years. Valuation uses the share price of $285.57 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	56.5%	Gross profit / revenue.
Operating margin	18.1%	Operating income / revenue.
EBITDA margin	22.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	24.6%	Pre-tax income / revenue.
Net margin	20.7%	Net income / revenue.
FCF margin	17.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	23.3%	Cash from operations / revenue.
Effective tax rate	15.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	15.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	11.2%	Net income / average total assets.
Return on invested capital (ROIC)	9.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	23.4%	Research and development expense / revenue.
SG&A / revenue	15.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	7.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	5.8%	Capital expenditures / revenue.
D&A / revenue	4.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	32.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	12.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	12.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	34.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	9.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	14.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	76.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-0.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	107.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	36.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	0.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	18.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-170.5%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-170.2%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	44.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	10.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	6.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	37.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	8.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	4.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	17.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	16.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	34.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	19.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	10.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	12.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	2.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.34x	Current assets / current liabilities.
Quick ratio	1.68x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.32x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.22x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	15.9%	Total debt / total assets.
Liabilities / assets	28.2%	Total liabilities / total assets.
Net debt	-$322.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-1.23x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$670.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	18.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.14B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.54x	Revenue / average total assets.
Fixed asset turnover	4.73x	Revenue / average property, plant and equipment.
Inventory turnover	1.80x	Cost of revenue / average inventory.
Days inventory	203 days	365 x average inventory / cost of revenue.
Receivables turnover	6.50x	Revenue / average receivables.
Days sales outstanding	56 days	365 x average receivables / revenue.
Days payables	53 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	207 days	Days inventory + days sales outstanding - days payables.
FCF conversion	84.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	24.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.07	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$14.84	Revenue / diluted weighted shares.
FCF per share	$2.60	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.46	Cash from operations / diluted weighted shares.
Book value per share	$19.65	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$14.59	Tangible book value / shares outstanding.
Cash per share	$8.46	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$21.81B	Share price x shares outstanding.
Enterprise value	$21.49B	Market cap + total debt - cash - short-term investments.
P/E	90.5x	Market cap / net income. Only when net income is positive.
P/S	18.7x	Market cap / revenue.
P/B	14.2x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	19.1x	Market cap / tangible book value, when positive.
P/FCF	107x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	80.4x	Market cap / cash from operations, when positive.
EV/Sales	18.5x	Enterprise value / revenue.
EV/EBIT	102x	Enterprise value / operating income, when both are positive.
EV/EBITDA	81.7x	Enterprise value / EBITDA, when both are positive.
EV/FCF	105x	Enterprise value / free cash flow, when both are positive.
FCF yield	0.9%	Free cash flow / market cap.
Earnings yield	1.1%	Net income / market cap (the inverse of P/E).

What was MACOM Technology Solutions Holdings, Inc.'s revenue in fiscal 2025?

MACOM Technology Solutions Holdings, Inc. reported revenue of $967.3M for fiscal 2025, 32.6% higher than the year before.

Was MACOM Technology Solutions Holdings, Inc. profitable in fiscal 2025?

No. It reported a net loss of $54.2M.

How much free cash flow did MACOM Technology Solutions Holdings, Inc. generate in fiscal 2025?

Cash from operations of $235.4M minus capital expenditures of $42.6M left free cash flow of $192.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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