What is an income statement waterfall?

An income statement waterfall is a bar chart that walks from total revenue down to net income, with each step showing how much a cost or tax line removes (or adds). Subtotals — gross profit, operating income, pre-tax income — are anchored to zero so the cascade reconciles exactly to the bottom line.

How much of Marvell Technology (MRVL) revenue becomes net income?

For TTM through Q2 2026, Marvell Technology turned $8.72B of revenue into $2.53B of net income — a net margin of 29%. The waterfall shows where the rest goes: cost of revenue, operating expenses, non-operating items, and taxes.

What are Marvell Technology (MRVL) gross, operating, and net margins?

For TTM through Q2 2026, Marvell Technology reported a gross margin of 50.6%, an operating margin of 16.2%, and a net margin of 29%. Each subtotal in the waterfall corresponds to one of these margins.

Why does Marvell Technology (MRVL) have such a high (or low) gross margin?

Gross margin (gross profit ÷ revenue) reflects how much of each revenue dollar remains after direct production costs. Capital-light software and platform businesses often show gross margins above 60–80% because their cost of revenue is mainly hosting and support. Hardware, retail, and commodity businesses show lower gross margins because raw materials and manufacturing costs are significant. The waterfall makes this visible at a glance — the size of the "Cost of Revenue" bar relative to Revenue is the gross margin complement.

What is the difference between gross, operating, and net margin?

Gross margin = (Revenue − Cost of Revenue) ÷ Revenue. It measures production efficiency. Operating margin = Operating Income ÷ Revenue. It adds operating expenses (R&D, S&M, G&A) and measures the profitability of core operations. Net margin = Net Income ÷ Revenue. It also includes interest, other income/expense, and taxes, and represents the shareholder take after everything.

Marvell Technology (MRVL) Income Statement Waterfall

Revenue

$8.72B

Gross Margin

+50.6%

Operating Margin

+16.2%

Net Margin

+29.0%

Income statement waterfall for Marvell Technology (MRVL) — TTM through Q2 2026

Net income: $2.53B

Margin breakdown for Marvell Technology (MRVL) — TTM through Q2 2026

Line item	Amount	Running total
Revenue	$8.72B	$8.72B
Cost of Revenue	-$4.3B	$4.41B
Gross Profit	$4.41B	$4.41B
Operating Expenses	-$3B	$1.41B
Operating Income	$1.41B	$1.41B
Other Income / Expense	$1.5B	$2.91B
Pre-tax Income	$2.91B	$2.91B
Income Tax	-$387M	$2.53B
Net Income	$2.53B	$2.53B

Revenue$8.72B
Cost of Revenue-$4.3B
Gross Profit$4.41B
Operating Expenses-$3B
Operating Income$1.41B
Other Income / Expense$1.5B
Pre-tax Income$2.91B
Income Tax-$387M
Net Income$2.53B

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