MaxLinear

MXL

Semiconductors · Technology

Price

$71.84

-2.56 (-3.44%)

Market Cap

$6.43B

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+8.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 79.7M (2021) → 86.6M (2025)

MaxLinear, Inc. provides radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. Its products integrate various portions of a high-speed communication system, including RF, high-performance analog, mixed-signal, digital signal processing, security engines, data compression, networking layers, and power management. The company of

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+43.0% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+10.3% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$209M/ year

↓ Declining (-7% vs prior year)

44.6% of revenue

3.0x the sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

6.7%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~18 months

$63M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

MaxLinear grew revenue 43% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

57.5%

Premium pricing power — 57.5% gross margin

Operating Margin

-12.2%

Losing money on operations — -12.2%

ROCE

-2.8%

Weak — -2.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+40.9%

Fast-growing sales (40.9% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

2.0%

Thin free cash flow (2.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.29

Conservative — low debt load (0.29)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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