MXL
MaxLinear, Inc.
MXL lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve.
MXL Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Under pressure | |
| Stable |
MXL's revenue is currently strong, and its profitability and balance sheet are stable, but its cash flow is under pressure.
MXL PE Valuation
MXL has no meaningful PE right now: it lost money over the past year.
MXL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for MXL, with profitability improving.
MXL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.06 | — |
| Q3 2026 | -$0.37 | +$1.72 |
| Q2 2026 | -$1.19 | +$1.28 |
| Q1 2026 | -$1.52 | +$1.11 |
| Q4 2025 | -$1.58 | +$1.35 |
| Q3 2025 | -$2.09 | +$0.65 |
| Q2 2025 | -$2.47 | -$0.14 |
| Q1 2025 | -$2.63 | -$0.72 |
| Q4 2024 | -$2.93 | -$2.02 |
MXL is still losing money, but far less than before: $0.37 per share over the past year, against $2.93 at its worst in late 2024.
MXL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $218.1M | +72% |
| Q2 2026 | $168.8M | +55% |
| Q1 2026 | $137.2M | +43% |
| Q4 2025 | $136.4M | +48% |
| Q3 2025 | $126.5M | +56% |
| Q2 2025 | $108.8M | +18% |
| Q1 2025 | $95.9M | +0.7% |
| Q4 2024 | $92.2M | -26% |
MXL's revenue is recovering but still below its 2022 peak: $218M last quarter, up 72% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +47 points |
| Q2 2026 | -2.5% | +20 points |
| Q1 2026 | -13% | +36 points |
| Q4 2025 | -11% | +34 points |
| Q3 2025 | -33% | +50 points |
| Q2 2025 | -23% | +22 points |
| Q1 2025 | -48% | +30 points |
| Q4 2024 | -45% | -11 points |
MXL's operating margin was 14% last quarter, up 47 points from the same quarter a year ago.
MXL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$19.5M | -544% |
| Q2 2026 | $2.5M | -73% |
| Q1 2026 | -$10.3M | +$3.1M |
| Q4 2025 | $6.7M | +$36.7M |
| Q3 2025 | $4.4M | +$39.3M |
| Q2 2025 | $9.3M | +$15M |
| Q1 2025 | -$13.4M | -276% |
| Q4 2024 | -$30M | -$12.2M |
MXL's free cash flow was −$21M over the past year, against −$30M the year before.
MXL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +381K shares |
| 1 year | +12% | +10.5M shares |
| 3 years | +20% | +16.5M shares |
| 5 years | +22% | +17.9M shares |
| Available history | +38% | +26.7M shares |
MXL has 98M diluted shares, up 12% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $5.2M |
| Q1 2022 | $26.3M |
MXL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.6x | Moderate |
| Q4 2023 | -2.0x | Net Cash |
| Q3 2023 | -0.6x | Net Cash |
| Q2 2023 | -0.5x | Net Cash |
| Q1 2023 | -0.4x | Net Cash |
| Q4 2022 | -0.3x | Net Cash |
| Q3 2022 | -0.0x | Net Cash |
| Q2 2022 | 0.2x | Very low |
MXL's net debt is about 2.6 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
MXL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.8 | Neutral |
| Stochastic | 16.3 | Oversold |
MXL's weekly RSI is 46 (neutral) and its Stochastic is 16 (oversold).
MXL PE vs Technology Sector
| Metric | MXL | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
MXL has no meaningful PE right now: it lost money over the past year.
MXL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $75.8 | 22% below |
| 20 week MA | $75.4 | 22% below |
| 50 week MA | $55.0 | 7.2% above |
| 100 week MA | $35.0 | 69% above |
| 200 week MA | $28.7 | 106% above |
MXL has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 106% above its 200-week average.
MXL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $21.4 | $36.7 | +71% |
| 2021 | $36.7 | $74.1 | +102% |
| 2022 | $74.1 | $33.9 | -54% |
| 2023 | $33.9 | $23.8 | -30% |
| 2024 | $23.8 | $20.5 | -14% |
| 2025 | $20.5 | $17.7 | -14% |
| 2026 YTD | $17.7 | $59.0 | +233% |
MXL has finished four years in a row lower, and it's up 233% so far in 2026.