MACOM Technology Solutions Holdings, Inc. MTSI

Information TechnologySemiconductors & Semiconductor EquipmentUnited States of America

Last close 222.18 USD on Nov 2, 2026, +29.7% year to date

Quant rating

Quant rating A Rank 41 of 389 in Information Technology

Growth A 38 of 389
Valuation C 227 of 389
Quality B 68 of 389
Revisions A 25 of 389
Momentum C 189 of 389

Wall Street consensus Buy (2.00)Average target 388.25 USD +74.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 17.0B
Enterprise value: 16.7B
52-week range: 144.11 – 418.75
3-year range: 72.41 – 418.75
Dividend yield: –
Beta (5 years): 1.83
Shares outstanding: 76.4M
Next earnings: Nov 5, 2026

About the company

MACOM Technology Solutions Holdings, Inc. designs and manufactures high-performance semiconductor products for the industrial and defense, data center and telecommunications industries. Its services over 6,000 customers annually with a product portfolio that incorporates radio frequency (RF), microwave, analog and mixed signal and optical semiconductor technologies. The Company specializes in application, analog and mixed signal circuit design, compound semiconductor fabrication (including gallium arsenide (GaAs), gallium nitride (GaN), indium phosphide (InP) and specialized silicon), advanced packaging and back-end assembly and test. It offers a broad portfolio of standard and custom devices, which include integrated circuits (IC), multi-chip modules (MCM), diodes, amplifiers, switches and switch limiters, passive and active components and RF and optical subsystems. Its products are electronic components that its customers generally incorporate into larger electronic systems.

Growth and profitability fiscal year ends September 30

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	967	730	648	675	607	–
Revenue growth	32.6%	12.5%	−4.0%	11.2%	14.5%	12.8%
EPS (basic, normalized)	3.47	2.56	2.70	2.82	2.15	–
EPS growth	35.5%	−5.2%	−4.3%	31.2%	–	–
Gross margin	54.7%	54.0%	59.5%	60.2%	56.3%	56.9%
Net margin	−5.6%	10.5%	14.1%	65.2%	6.3%	18.1%
ROE	−4.4%	7.4%	10.2%	66.9%	9.8%	18.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	663
Current ratio	2.34x
Long-term debt (mil)	66.5
Net debt (mil)	−255
Total equity (mil)	1,541
Net debt / equity	−0.17x
Net debt / EBITDA	−0.93x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	967	+32.6%	17.3x	275	+22.6%	60.8x	3.47	+35.5%	64.0x
2026	1,321	+36.5%	12.7x	463	+68.4%	36.1x	5.48	+57.9%	40.6x
2027	1,802	+36.5%	9.3x	723	+56.2%	23.1x	8.46	+54.5%	26.2x
2028	2,098	+16.4%	8.0x	859	+18.8%	19.5x	9.87	+16.6%	22.5x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,321	+0.3%	+4.5%	+12.7%	5.48	0.0%	+9.0%	+22.4%
2027	1,802	−0.5%	+12.7%	+30.1%	8.46	+0.9%	+23.8%	+51.9%
2028	2,098	+4.3%	+19.2%	+30.1%	9.87	+6.2%	+32.6%	+42.2%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	181	190	201	218	236	252	261	272	289	342
Sales mean (mil)	181	190	200	215	230	250	260	270	285	335
Surprise	+0.2%	+0.1%	+0.2%	+1.5%	+2.8%	+0.9%	+0.4%	+0.7%	+1.3%	+2.0%
EPS reported	0.59	0.66	0.73	0.79	0.85	0.90	0.94	1.02	1.09	1.40
EPS mean	0.59	0.66	0.73	0.78	0.84	0.90	0.93	0.98	1.07	1.35
Surprise	+0.6%	0.0%	−0.5%	+0.8%	+1.5%	+0.4%	+1.2%	+3.7%	+1.6%	+4.0%

Peer comparison Semiconductors & Semiconductor Equipment

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
MTSI MACOM Technology Solutions Holdings, Inc.	17.0B	−0.93x	−5.6%	11.01x	40.6x	26.2x	36.1x	23.1x
NVDA NVIDIA Corporation	4.87T	−0.47x	55.6%	21.31x	21.7x	12.8x	17.5x	10.4x
AVGO Broadcom Inc	1.54T	0.82x	36.2%	15.43x	27.9x	16.8x	21.7x	13.3x
MU Micron Technology, Inc.	943.1B	−0.35x	63.8%	6.81x	4.8x	4.0x	3.7x	3.1x
AMD Advanced Micro Devices, Inc.	762.1B	−1.16x	12.3%	11.33x	61.0x	29.1x	46.2x	22.0x
INTC Intel Corp	318.7B	0.87x	−0.5%	2.77x	40.2x	32.8x	15.2x	12.6x
Mean		−0.20x	27.0%	11.44x	32.7x	20.3x	23.4x	14.1x
Median		−0.41x	24.3%	11.17x	34.0x	21.5x	19.6x	13.0x

Technical analysis

1M−30.9%
3M−11.6%
1Y+50.0%
3Y+205.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, MACOM Technology Solutions Holdings, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	967	730	648	675	607	530
Cost of revenue	438	336	263	269	265	260
Gross profit	529	394	386	406	342	270
Selling, general & administrative expenses	146	120	106	99.7	91.1	91.4
Research & development	236	177	149	148	139	141
Depreciation/amortization	17.4	22.4	23.7	25.6	30.9	32.9
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	193	–	–	0	4.4	1.1
Other operating expenses	0	0	0	0	0	0
Operating income	−63.4	73.7	107	133	76.6	3.4
Net interest income (expense)	24.3	17.9	8.4	−7.6	−23.0	−30.8
Gain (loss) on sale of assets	10.1	0	−0.7	–	–	–
Other non-operating income (expense)	0	0	0	118	−10.7	−14.2
Net income before taxes	−29.0	91.5	115	243	42.9	−41.6
Provision for taxes	25.2	14.7	23.6	−197	5.0	4.5
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−54.2	76.9	91.6	440	38.0	−46.1
Extraordinary items	–	–	–	–	–	0
Net income	−54.2	76.9	91.6	440	38.0	−46.1
EBIT, normalized	130	73.7	107	133	81.0	4.5
EBITDA, normalized	193	141	160	190	151	83.4
Basic EPS, normalized	3.47	2.56	2.70	2.82	2.15	–

Balance sheet in millions of USD, fiscal years

Balance sheet, MACOM Technology Solutions Holdings, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	786	582	515	587	345	333
Receivables	149	106	91.3	102	84.6	47.1
Total inventory	238	194	136	115	82.7	91.6
Prepaid expenses	32.6	21.0	19.1	10.0	9.4	9.7
Other current assets	0	0	0	0	0	0
Total current assets	1,205	903	761	813	522	482
Property, plant & equipment	262	205	175	149	150	152
Goodwill	336	332	323	311	314	315
Intangibles	78.6	76.1	67.0	51.3	84.7	131
Long-term investments	–	–	2.5	2.5	15.3	17.7
Note receivable	–	–	–	–	–	–
Other long-term assets	221	239	224	244	47.9	49.1
Total assets	2,103	1,756	1,553	1,572	1,134	1,146
Liabilities
Accounts payable	67.6	43.2	25.0	30.7	28.7	23.0
Payable/accrued	–	–	–	–	–	–
Accrued expenses	88.3	59.1	54.6	61.6	61.5	56.6
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	162	0.6	1.2	1.0	1.0	8.3
Other current liabilities	7.7	5.3	2.8	3.9	1.9	7.1
Total current liabilities	325	108	83.5	97.2	93.0	95.0
Long-term debt	407	488	488	602	529	681
Minority interest	–	–	–	–	–	–
Other liabilities	44.0	32.7	33.9	29.4	40.5	70.2
Total liabilities	776	629	606	729	662	846
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.1	0.1	0.1	0.1	0.1	0.1
Additional paid-in capital	1,562	1,310	1,214	1,203	1,270	1,135
Retained earnings (accumulated deficit)	−240	−186	−263	−354	−802	−840
Treasury stock	−0.3	−0.3	−0.3	−0.3	−0.3	−0.3
Other equity	5.0	2.5	−3.6	−5.9	4.1	5.0
Total equity	1,327	1,126	948	843	472	300
Total liabilities & shareholders' equity	2,103	1,756	1,553	1,572	1,134	1,146

Cash flow statement in millions of USD, fiscal years

Cash flow statement, MACOM Technology Solutions Holdings, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−54.2	76.9	91.6	440	38.0	−46.1
Depreciation, depletion & amortization	63.3	67.2	52.2	57.2	70.0	78.8
Deferred taxes	2.6	4.9	19.8	−200	2.5	3.3
Non-cash items	261	44.6	31.2	−73.1	63.9	59.8
Changes in working capital	−37.8	−31.0	−27.8	−46.7	−25.9	75.5
Cash from operations	235	163	167	177	148	171
Investing activities
Capital expenditures	−82.2	−22.4	−24.7	−26.5	−18.0	−17.6
Other investing cash flows	−246	−159	61.0	−156	15.4	−89.6
Cash from investing	−328	−181	36.3	−183	−2.6	−107
Financing activities
Financing cash flow items	–	–	0	0	−5.8	0
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	58.1	−9.1	−149	−28.9	−113	−10.7
Cash from financing	58.1	−9.1	−149	−28.9	−119	−10.7
Foreign exchange effects	0.1	0.4	−0.2	−1.8	0.4	0.4
Net change in cash	−34.7	−27.1	54.0	−36.6	27.1	53.9
Free cash flow	153	140	142	150	130	154

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.