# MaxLinear, Inc. (MXL) · Edgar & Edgarette company card

> MaxLinear (MXL) grew revenue 29.7% in FY2025 to $468 million, operating margin -27.1% against a 2.4% median for semiconductors & related devices, equity 56.7% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1288469 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/MXL) · [JSON](https://www.pops4.com/boards/company/MXL.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $468M |
| Revenue growth, 1 year | 29.7% |
| Revenue growth per year | -14.9% |
| Operating margin | -27.1% (prior year -62.0%) |
| Net margin | -29.2% |
| Operating cash flow | $20M |
| Capital spending | $13M |
| Free cash flow | $7M |
| Cash | $73M |
| Long-term debt | $124M |
| Total assets | $796M |
| Total equity | $452M |
| Equity ÷ assets | 56.7% |
| Return on equity | -30.2% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -1.22 (distress zone)
- Piotroski F: 5 of 9 (middling)
- Beneish M: -3.66 (below the −1.78 line)
- Health Harbor boat: Rotting at the dock · four or more warning signs · filed auditor change in the last 12 months; slow and jumpy: growing slower than its size class, with revenue that swings more; operating loss: a margin of -27.1% in FY2025; revenue is hard to predict: its 80% range is ±51%
- Cash Compass: Fading · slow and jumpy, lagging its peers

## Edgarette's reading

Exposure: revenue $467.6M (FY2025), total debt $123.6M. Experience: revenue up 29.7% on the year, down 14.9% a year over 4 years; operating margin -27.1%, up from -62.0%. Soundness: equity 56.7% of assets, return on equity -30.2%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $269.5M and $828.0M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $202.9M to $1.1B. A statistical range, not company guidance. Against peers (63 filers, $50M+ revenue, semiconductors & related devices): operating margin -27.1% against a 2.4% median; growth 29.7% against 15.5%.

Range logged 2026-09-26, receipt 850fda74d0fc4b35, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 4.01 Auditor change: 1, latest 2026-06-01 ([filing](https://www.sec.gov/Archives/edgar/data/1288469/000128846926000045/0001288469-26-000045-index.htm))
- Item 5.02 Director or officer change: 2, latest 2026-05-21 ([filing](https://www.sec.gov/Archives/edgar/data/1288469/000128846926000035/0001288469-26-000035-index.htm))

## Recent filings

- 10-Q · filed 2026-10-22 · [filing](https://www.sec.gov/Archives/edgar/data/1288469/000128846926000061/0001288469-26-000061-index.htm)
- 8-K · filed 2026-10-22 · 1.01 Entry into a Material Definitive Agreement; 2.02 Results of Operations and Financial Condition; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1288469/000128846926000060/0001288469-26-000060-index.htm)
- 10-Q · filed 2026-07-23 · [filing](https://www.sec.gov/Archives/edgar/data/1288469/000128846926000051/0001288469-26-000051-index.htm)
- 8-K · filed 2026-07-23 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1288469/000128846926000050/0001288469-26-000050-index.htm)
- 8-K · filed 2026-06-01 · 4.01 Changes in Registrant's Certifying Accountant; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1288469/000128846926000045/0001288469-26-000045-index.htm)
- 8-K · filed 2026-05-21 · 5.02 Departure or Election of Directors; Appointment of Officers; 5.07 Submission of Matters to a Vote of Security Holders; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1288469/000128846926000035/0001288469-26-000035-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001288469.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1288469

## Cite

POPS4, Edgar & Edgarette: MaxLinear, Inc. (MXL) company card, from the company's own SEC filings, accessed 2026-11-10, https://www.pops4.com/boards/company/MXL. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.