MRVL vs AVGO Stock Comparison: AI Score, Valuation, Performance and Upside
MRVL and AVGO are both custom AI ASIC providers to hyperscalers, but at very different scales and with different revenue diversification profiles. Broadcom is a much larger company with dominant networking ASIC positions, VMware software revenue, and multi-year custom AI silicon programs at Google and Meta. Marvell is more purely AI ASIC focused with smaller but growing programs at AWS and Google, offering higher growth rates from a smaller base.
MRVL vs AVGO is a choice between a focused custom AI ASIC grower with high revenue growth rates (Marvell) and a diversified semiconductor and software giant with dominant networking and custom ASIC positions at a larger scale (Broadcom) — Marvell offers more growth upside from a smaller base; Broadcom offers more stability, diversification, and a proven mega-cap track record.
AVGO holds the edge across 3 of 5 key metrics in this comparison. MRVL has delivered stronger 1-year price return (+239.19% vs +0.33%), though AVGO has the better forward P/E setup (18.67x vs 30.75x for MRVL). AVGO leads on both revenue growth (85.50%) and operating margin (54.31%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for AVGO (+46.92%) than for MRVL (+37.93%).
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.
- prefer a focused custom AI ASIC story with high revenue growth rates driven by AWS and Google design wins
- value a more concentrated bet on AI infrastructure semiconductors without VMware integration complexity
- want a mid-large-cap semiconductor company where AI ASIC programs will be more transformative to overall revenue mix
- are comfortable with significant exposure to a small number of hyperscaler customers and ASIC program timing risk
- prefer a diversified semiconductor and software giant with dominant networking ASIC moats and VMware subscription revenue
- value custom AI ASIC programs at Google and Meta as additions to an already large and profitable semiconductor franchise
- want combined exposure to AI networking, custom silicon, and enterprise software in a single mega-cap holding
- are comfortable with VMware integration execution risk and premium valuation in exchange for diversified AI revenue streams
| Metric | MRVL | AVGO |
|---|---|---|
| AI scorei | 79.4 | 76.6 |
| AI ranki | #16 | #19 |
| Latest closei | $240.76 | $347.30 |
| 1M returni | +11.46% | -8.61% |
| 6M returni | +168.92% | +8.59% |
| 1Y returni | +239.19% | +0.33% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | MRVL | AVGO |
|---|---|---|
| 1Y ago | $32.43K (+224.3%) started 2025-09-18 | $10.06K (+0.6%) started 2025-09-18 |
| 5Y ago | $39.68K (+296.8%) started 2021-09-20 | $83.35K (+733.5%) started 2021-09-20 |
| 10Y ago | $186.64K (+1766.4%) started 2016-09-19 | $348.94K (+3389.4%) started 2016-09-19 |
Hypothetical — past performance does not guarantee future results.
| Metric | MRVL | AVGO |
|---|---|---|
| Market capi | $185.56B | $1.73T |
| Trailing P/Ei | 68.15 | 46.05 |
| Forward P/Ei | 30.75 | 18.67 |
| Price/Salesi | N/A | N/A |
| EV/Revenuei | 19.66 | 19.79 |
| Analyst targeti | $284.80 | $531.85 |
| Target upsidei | +37.93% | +46.92% |
| Metric | MRVL | AVGO |
|---|---|---|
| Revenue growthi | 36.50% | 85.50% |
| Earnings growthi | 50.00% | 215.30% |
| EPS growthi | +50.00% | +215.30% |
| FCF margini | +25.48% | +34.34% |
| Operating margini | 16.68% | 54.31% |
| Profit margini | 27.93% | 42.94% |
| ROIC proxyi | 16.52% | 44.25% |
| Return on equityi | 16.52% | 44.25% |
| Dividend yieldi | 0.11% | 0.72% |
| Payout ratioi | 7.95% | 32.40% |
| Dividend growth streaki | N/A | No increase yet |
| Betai | 2.25 | 1.46 |
| Debt/equityi | 28.52 | 59.60 |
| Current ratioi | 3.17 | 2.50 |
| Quick ratioi | 2.46 | 2.15 |
Over the past year, MRVL and AVGO have moved moderately in the same direction (correlation of 0.50), 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 | MRVL | AVGO |
|---|---|---|---|
| 1Y | Growthi | +224.34% | +0.56% |
| CAGRi | +224.84% | +0.57% | |
| Volatilityi | 79.30% | 46.26% | |
| Sharpe ratioi | 1.82 | 0.15 | |
| Sortino ratioi | 3.07 | 0.21 | |
| Max drawdowni | 48.36% | 29.55% | |
| Current drawdowni | 23.91% | 27.88% | |
| Avg drawdowni | 13.65% | 13.75% | |
| Ulcer Indexi | 18.05% | 16.40% | |
| Max daily dropi | 16.74% | 12.59% | |
| Max wkly dropi | 22.60% | 22.35% | |
| 5Y | Growthi | +296.77% | +663.56% |
| CAGRi | +31.79% | +50.23% | |
| Volatilityi | 64.96% | 44.34% | |
| Sharpe ratioi | 0.68 | 1.04 | |
| Sortino ratioi | 1.04 | 1.63 | |
| Max drawdowni | 62.10% | 41.15% | |
| Current drawdowni | 23.91% | 27.88% | |
| Avg drawdowni | 31.60% | 10.58% | |
| Ulcer Indexi | 35.71% | 13.85% | |
| Max daily dropi | 19.81% | 17.40% | |
| Max wkly dropi | 23.97% | 22.35% | |
| 10Y | Growthi | +1766.36% | +2520.22% |
| CAGRi | +34.02% | +38.64% | |
| Volatilityi | 53.54% | 39.88% | |
| Sharpe ratioi | 0.73 | 0.91 | |
| Sortino ratioi | 1.11 | 1.36 | |
| Max drawdowni | 62.10% | 48.30% | |
| Current drawdowni | 23.91% | 27.88% | |
| Avg drawdowni | 20.39% | 8.62% | |
| Ulcer Indexi | 26.80% | 11.91% | |
| Max daily dropi | 19.81% | 19.91% | |
| Max wkly dropi | 23.97% | 31.75% |
| Category | MRVL | AVGO |
|---|---|---|
| Company | Marvell Technology, Inc. | Broadcom Inc. |
| Sector | Technology | Technology |
| Industry | Semiconductors | Semiconductors |
| Core business | Marvell Technology is a large-cap fabless semiconductor company whose AI strategy centers on designing custom AI ASICs for major cloud providers (AWS, Google) alongside high-speed Ethernet switching PHYs, optical DSPs, and PCIe retimers for AI data center infrastructure. Marvell also has exposure to 5G infrastructure, enterprise networking, and data center interconnect. Revenue is transitioning toward AI and cloud at the expense of slower enterprise and carrier segments. | Broadcom is a large, diversified semiconductor and infrastructure software company following its $69B acquisition of VMware in 2023. Its semiconductor segment dominates networking (Tomahawk switching chips, Jericho routing), storage controllers, wireless connectivity, and custom AI ASICs for hyperscalers including Google (TPU) and Meta. VMware contributes significant software revenue from virtualization licenses and VCF subscription conversions. Broadcom's AI networking and ASIC segment has grown into a major growth driver. |
| Investor focus | Investors focus on custom AI ASIC revenue ramp at AWS and Google, data center percentage of total revenue, and five-year AI revenue targets that Marvell has committed to publicly. Gross margin expansion as ASIC mix grows is also closely tracked. | Investors focus on AI semiconductor revenue (networking ASICs and custom TPU-type chips for hyperscalers), VMware revenue conversion to subscription, combined operating margins from hardware and software, and the pace of AI-specific revenue growth relative to the broader semiconductor cycle. |
- Multi-billion-dollar custom AI ASIC programs at AWS and Google provide long-duration, high-value revenue with deep customer lock-in
- Broad data center product portfolio (PHYs, DSPs, retimers) creates multiple revenue entry points in AI infrastructure
- Strong IP portfolio in SerDes technology underpins connectivity product differentiation
- Dominant networking ASIC position (Tomahawk, Jericho) with hyperscaler design wins that are extremely difficult for competitors to displace
- VMware acquisition creates a high-margin software subscription revenue stream that diversifies beyond semiconductor cyclicality
- Custom AI chip programs (Google TPU, Meta MTIA) represent multi-billion-dollar annualized revenue from the largest global AI spenders
- Custom ASIC programs are highly concentrated in a small number of hyperscaler customers
- Carrier and enterprise networking revenue remains under pressure, creating near-term revenue mix headwinds
- Broadcom directly competes in custom AI ASICs for hyperscalers with significantly more resources and operational scale
- VMware integration complexity and customer pushback against aggressive subscription pricing create execution risk
- Broadcom's valuation reflects significant AI revenue expectations — any execution miss or hyperscaler spend deceleration could cause sharp multiple compression
- Scale and complexity of both semiconductor and software operations make financial analysis more complex than pure-play competitors
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