MaxLinear Inc. Common Stock (MXL)

FairStock Score: 47/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach MaxLinear as a Graham-style bargain hunter, and the numbers tell a turnaround story that is not yet proven. The business sells communications systems-on-chip for 4G/5G base stations, backhaul, and modems. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $168.8 million versus $108.8 million in fiscal Q2 2025, and net income was $1.8 million versus a net loss of $26.6 million. That is real progress. But fiscal 2025, ended 2025-12-31, still showed revenue of $467.6 million and a net loss of $136.7 million, or $1.58 per diluted share. Fiscal 2024 was worse: revenue of $360.5 million and a net loss of $245.2 million, or $2.93 per share. Fiscal 2023 had revenue of $693.3 million and a net loss of $73.1 million. So the company has not shown durable earning power. Financial health is better than the income statement suggests: Piotroski F-Score 8/9, Altman Z-Score 4.84, and debt-to-equity 0.31. Yet at the 2026-10-13 close of $88.64, FairStock's P/B is 16.57, P/E is negative, and trailing FCF yield is 0.0% on $653,000 of free cash flow. Mr. Market is paying richly for a recovery that has only one quarter of positive net income. Beta 3.94 and a 52-week range of $12.77 to $128.30 warn of violent swings. FairStock classifies it as a TURNAROUND, with a loss in the latest year after earlier profits. I see a speculative turnaround, not a margin-of-safety bargain. Until free cash flow and profits become consistent, the price leaves little room for error.

In plain English: MaxLinear makes special chips that help high-speed communications gear, such as 4G and 5G base stations and modems, send and receive data. The business has been losing money in recent years, but sales are growing and it squeezed out a tiny profit in its latest quarter. At $88.64 on 2026-10-13, the shares look expensive compared with the company's current earnings and accounting net worth, so the price already reflects a lot of hoped-for recovery.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer