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MACOM Technology Solutions Holdings, Inc.

Rank #283Hypergrowth

MTSI · Nasdaq · Technology

MACOM Technology Solutions Holdings, Inc. (MTSI) — Rank #283 by gross profitability (GP/assets 0.25) · ROE -3.5% · Piotroski F-Score 5 / 9.

As-of 2026-09-15 · CIK 0001493594 · all metrics point-in-time as of the filing date.

About

MACOM Technology Solutions Holdings, Inc., together with its subsidiaries, provides analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum.

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The company offers a portfolio of standard and custom devices, including integrated circuits, multi-chip modules, diodes, amplifiers, switches and switch limiters, passive and active components, and subsystems. Its semiconductor products are electronic components that are incorporated in electronic systems, such as wireless base stations, optical networks, radar and medical systems, satellite networks, and test and measurement applications. The company serves carrier infrastructure, which comprise long-haul/metro, 5G and 6G infrastructure, satellite communications, and fiber-to-the-X/passive optical network; industrial and defense, including military and commercial radar, RF jammers, electronic countermeasures, and communication data links, as well as multi-market applications, such as industrial, medical, test and measurement, and scientific applications; and data centers. It sells its products through direct sales force, applications engineering staff, independent sales representatives, resellers, and distributors. The company operates in the United States, China, Japan, Singapore, South Korea, Taiwan, and internationally. MACOM Technology Solutions Holdings, Inc. was formerly known as M/A-Com Technology Solutions Holdings, Inc. and changed its name to MACOM Technology Solutions Holdings, Inc. in 2016. MACOM Technology Solutions Holdings, Inc.

was founded in 1950 and is based in Lowell, Massachusetts.

Industry
Semiconductors
Sector
Technology
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
October 3
Website
macom.com

Price History

MTSI+330.9% · +33.9% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

$18.16B

P/E (annual)

—

P/S (annual)

18.8

P/B

11.8

P/OCF (annual)

77.2

Shareholder Yield

-0.6%

Employees

2,000

Industry

Semiconductors

Exchange

Nasdaq

Signal Flags

4 green1 yellow
Revenue growth acceleratingGrowth rate increasing year over year
Operating leverage expandingOperating income growing faster than revenue
Deferred revenue growingRevenue and deferred revenue both growing — retention signal
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 3-quarter streak
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why

Quality Profile

Profitability

1/1 pass
GP / assets
0.25
Return on equity
-3.5%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.39
Current ratio
2.34×
Net cash
$424.70M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
8.2%

Growth

2/2 pass
Revenue growth
32.6%
Piotroski F-Score
5 / 9
Share dilution
0.6%

Terry Smith quality gate

Passes 1/5 Terry Smith thresholds

2 of 5 thresholds not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

28.6%

stretched

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 0.6% — per-share value needs a total required return of 29.2% once share-count change is priced in.

vs. own 6-year median revenue growth: 11.9%

priced above its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

23.1%

r = 10% (base)

28.6%

r = 12%

33.3%

Net debt / market cap: -2.4%

Base FCF: $192.8M3Y mean FCF: $158.4M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

N/A
11.4xmed 94.0x140.0x

P / S

Price / revenue per share

12.4xExpensive
1.1xmed 6.3x13.3x

P / B

Price / book value per share

9.1xExpensive
1.6xmed 5.9x11.3x

P / GP

Price / gross profit per share

22.7xExpensive
2.4xmed 11.3x24.6x

P / FCF

Price / free cash flow per share

62.4xExpensive
16.5xmed 40.1x69.2x

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.25

Primary signal (Novy-Marx).

13th of 17 SIC 3674 peers

Return on equity

-3.5%

Gross margin

54.7%

6th of 17 SIC 3674 peers

Revenue growth (YoY)

32.6%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

12.7%

Revenue CAGR (5Y)

12.8%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

8.6%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.39

8th of 16 SIC 3674 peers (best = lowest)

Current ratio

2.34×

15th of 17 SIC 3674 peers

Quick ratio

1.68×

Net cash

$424.70M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$192.82M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

4.56

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

8.2%

Stock-based comp intensity.

Piotroski F-Score

F-Score

5 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20202025
Startup
Op. Leverage
Value
Hypergrowth
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