ARM vs MRVL: Arm vs Marvell Stock Comparison: AI Score, Valuation, Performance and Upside
Arm earns royalties on nearly every chip that uses its CPU architecture — including AI chips designed by hyperscalers and Marvell itself. Marvell designs custom AI accelerators and data center connectivity silicon for hyperscalers. Arm is a pick-and-shovel licensing play; Marvell is a custom silicon design play. Both benefit from AI chip proliferation but through different business models.
Use this ARM vs MRVL comparison to evaluate two semiconductor companies benefiting from AI chip growth through different models. Arm earns royalties on volume — every AI chip with an Arm core generates revenue. Marvell earns design revenue by building custom AI chips for specific hyperscalers.
MRVL holds the edge across 5 of 5 key metrics in this comparison. MRVL leads on both 1-year return (+197.60%) and forward P/E quality (30.75x vs 83.81x for ARM), a relatively favorable combination of momentum and valuation. MRVL leads on both revenue growth (36.50%) and operating margin (16.68%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for MRVL (+37.93%) than for ARM (+13.25%).
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
- Want a pure IP licensing play that benefits from growing chip volume across AI, mobile, data center, and automotive
- Believe Armv9 royalty rate expansion will drive revenue growth independent of unit volume trends
- Prefer a capital-light business model with very high margins and no manufacturing risk
- Want exposure to every AI chip that uses Arm architecture — regardless of which hyperscaler or designer wins
- Want direct exposure to custom AI accelerator design wins with the largest hyperscalers
- Believe custom AI silicon (ASICs) will grow faster than merchant GPUs as hyperscalers optimize for their workloads
- Value Marvell's electro-optics and networking silicon as essential data center connectivity infrastructure
- Prefer a company with more revenue upside per AI chip design win compared to Arm's per-chip royalty model
| Metric | ARM | MRVL |
|---|---|---|
| AI scorei | 51.9 | 80.1 |
| AI ranki | #397 | #25 |
| Latest closei | $256.70 | $275.28 |
| 1M returni | -3.06% | +17.14% |
| 3M returni | -14.14% | +16.74% |
| 6M returni | +62.90% | +114.24% |
| 1Y returni | +65.82% | +197.60% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | ARM | MRVL |
|---|---|---|
| 1Y ago | $14.93K (+49.3%) started 2025-10-13 | $30.36K (+203.6%) started 2025-10-09 |
| 5Y ago | $40.37K (+303.7%) started 2023-09-14 | $43.39K (+333.9%) started 2021-10-11 |
| 10Y ago | $40.37K (+303.7%) started 2023-09-14 | $209.02K (+1990.2%) started 2016-10-10 |
Hypothetical — past performance does not guarantee future results.
| Metric | ARM | MRVL |
|---|---|---|
| Market capi | $274.16B | $185.56B |
| Trailing P/Ei | 264.64 | 68.15 |
| Forward P/Ei | 83.81 | 30.75 |
| Price/Salesi | 53.17 | N/A |
| EV/Revenuei | 54.50 | 19.66 |
| Analyst targeti | $290.71 | $284.80 |
| Target upsidei | +13.25% | +37.93% |
| Metric | ARM | MRVL |
|---|---|---|
| Revenue growthi | 22.40% | 36.50% |
| Earnings growthi | 108.30% | 50.00% |
| EPS growthi | +108.30% | +50.00% |
| FCF margini | +25.88% | +25.48% |
| Operating margini | 7.60% | 16.68% |
| Profit margini | 20.25% | 27.93% |
| ROIC proxyi | 13.35% | 16.52% |
| Return on equityi | 13.35% | 16.52% |
| Dividend yieldi | 0.00% | 0.11% |
| Payout ratioi | 0.00% | 7.89% |
| Dividend growth streaki | N/A | N/A |
| Betai | 3.79 | 2.25 |
| Debt/equityi | 5.62 | 28.52 |
| Current ratioi | 5.25 | 3.17 |
| Quick ratioi | 5.06 | 2.46 |
Over the past year, ARM and MRVL have moved moderately in the same direction (correlation of 0.57), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | ARM | MRVL |
|---|---|---|---|
| 1Y | Growthi | +49.30% | +203.57% |
| CAGRi | +49.50% | +204.05% | |
| Volatilityi | 78.77% | 79.18% | |
| Sharpe ratioi | 0.84 | 1.74 | |
| Sortino ratioi | 1.39 | 2.92 | |
| Max drawdowni | 48.83% | 48.36% | |
| Current drawdowni | 41.59% | 13.00% | |
| Avg drawdowni | 25.12% | 14.42% | |
| Ulcer Indexi | 28.79% | 18.41% | |
| Max daily dropi | 12.84% | 16.74% | |
| Max wkly dropi | 25.35% | 22.60% | |
| 5Y | Growthi | +303.68% | +333.92% |
| CAGRi | +57.37% | +34.17% | |
| Volatilityi | 77.10% | 64.97% | |
| Sharpe ratioi | 0.90 | 0.70 | |
| Sortino ratioi | 1.50 | 1.08 | |
| Max drawdowni | 53.97% | 62.10% | |
| Current drawdowni | 41.59% | 13.00% | |
| Avg drawdowni | 22.72% | 31.74% | |
| Ulcer Indexi | 25.86% | 35.75% | |
| Max daily dropi | 19.46% | 19.81% | |
| Max wkly dropi | 30.98% | 23.97% | |
| 10Y | Growthi | +303.68% | +1990.20% |
| CAGRi | +57.37% | +35.54% | |
| Volatilityi | 77.10% | 53.63% | |
| Sharpe ratioi | 0.90 | 0.75 | |
| Sortino ratioi | 1.50 | 1.14 | |
| Max drawdowni | 53.97% | 62.10% | |
| Current drawdowni | 41.59% | 13.00% | |
| Avg drawdowni | 22.72% | 20.48% | |
| Ulcer Indexi | 25.86% | 26.82% | |
| Max daily dropi | 19.46% | 19.81% | |
| Max wkly dropi | 30.98% | 23.97% |
| Category | ARM | MRVL |
|---|---|---|
| Company | Arm Holdings plc | Marvell Technology, Inc. |
| Sector | Technology | Technology |
| Industry | Semiconductors | Semiconductors |
| Core business | Semiconductor IP licensing company that designs CPU architectures used in virtually every smartphone, and increasingly in data center, automotive, and IoT chips. Revenue from licensing fees and per-chip royalties. | Data infrastructure semiconductor company designing custom AI accelerators, electro-optics, networking switches, and storage controllers for cloud, enterprise, 5G, and automotive markets. |
| Investor focus | Data center CPU adoption (Neoverse), AI chip licensing growth, royalty rate expansion via Armv9 architecture, automotive design wins, and compute subsystem licensing. | Custom AI accelerator design wins with hyperscalers, electro-optics revenue growth, data center networking share, and margin expansion as AI revenue scales. |
- Near-universal mobile CPU architecture — Arm cores power 99%+ of smartphones, creating a massive royalty base
- Neoverse data center CPUs are gaining share from x86 (Intel/AMD) in cloud and AI inference workloads
- Armv9 architecture commands higher royalty rates than Armv8, driving per-chip revenue growth independent of unit volume
- Leading custom AI accelerator design partner — Marvell designs custom AI chips for hyperscalers who want silicon optimized for their specific workloads
- Electro-optics leadership for data center connectivity — essential for linking GPUs and AI accelerators in large clusters
- Diversified data infrastructure portfolio across networking, storage, and 5G with growing AI exposure
- Premium valuation reflects years of data center and AI licensing growth that must materialize
- RISC-V open-source architecture is a long-term competitive threat in IoT and potentially in data center
- Customer concentration — a few large licensees (Apple, Qualcomm, MediaTek) drive a significant share of royalties
- Custom ASIC revenue concentration — a small number of hyperscaler customers drive most AI chip revenue
- Margin pressure from custom ASIC design services (lower margin than merchant silicon like NVIDIA's GPUs)
- Enterprise and carrier end markets have been softer, partially offsetting data center growth momentum
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