Macom Technology Solutions Holdings, Inc. key statistics and ratios

In fiscal 2025, Macom Technology Solutions Holdings, Inc. had return on equity of -4.4%, an operating margin of 13.4%, debt equal to 38.1% of equity and a current ratio of 3.71. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Macom Technology Solutions Holdings, Inc.: financial ratios, annual
Fiscal year	2010Oct 2010	2011Sept 2011	2012Sept 2012	2013Sept 2013	2014Oct 2014	2015Oct 2015	2016Sept 2016	2017Sept 2017	2018Sept 2018	2019Sept 2019	2020Oct 2020	2021Oct 2021	2022Sept 2022	2023Sept 2023	2024Sept 2024	2025Oct 2025	LTMJul 2026
Gross margin	36.0%	42.5%	44.4%	45.0%	41.6%	48.4%	51.7%	46.8%	43.1%	44.2%	51.0%	56.3%	60.2%	59.5%	54.0%	54.7%	56.5%
Operating margin	6.9%	14.8%	17.8%	3.2%	−8.2%	2.4%	2.4%	−2.3%	−18.7%	−76.1%	0.6%	13.3%	19.7%	16.6%	10.1%	13.4%	18.1%
Net margin	2.7%	−0.3%	−1.2%	7.5%	−4.5%	11.6%	0.3%	−24.3%	−24.5%	−76.8%	−8.7%	6.3%	65.2%	14.1%	10.5%	−5.6%	20.7%
Free-cash-flow margin	5.7%	7.4%	4.9%	6.8%	2.5%	−1.1%	8.8%	4.0%	−2.9%	−3.5%	29.0%	21.5%	22.3%	21.9%	19.2%	19.9%	17.5%
Return on equity	15.7%	—	−11.2%	8.0%	−6.4%	14.9%	0.3%	−27.3%	−19.4%	−78.1%	−15.0%	9.8%	66.9%	10.2%	7.4%	−4.4%	16.8%
Return on assets	—	−0.5%	−1.5%	6.2%	−3.1%	6.3%	0.1%	−12.0%	−9.0%	−29.7%	−4.1%	3.3%	32.5%	5.9%	4.6%	−2.8%	11.3%
Asset turnover	—	1.47	1.26	0.83	0.68	0.55	0.53	0.49	0.37	0.39	0.47	0.53	0.50	0.41	0.44	0.50	0.55
Current ratio	—	2.33	3.82	4.72	4.36	5.38	6.65	4.81	4.29	5.33	5.07	5.61	8.36	9.11	8.35	3.71	2.34
Debt to equity	0.0%	—	—	0.0%	151.7%	79.9%	125.3%	86.0%	99.5%	210.9%	221.9%	121.0%	67.7%	47.5%	40.0%	38.1%	22.3%
Interest cover (operating income ÷ interest)	7.7x	29.4x	77.3x	9.4x	n/m	0.5x	0.7x	n/m	n/m	n/m	0.1x	3.7x	15.5x	8.7x	14.3x	23.5x	—
Effective tax rate	57.9%	—	—	9.6%	—	—	—	—	—	—	—	11.6%	—	20.5%	16.0%	—	15.8%
R&D as % of revenue	9.9%	11.6%	12.2%	17.5%	21.0%	19.5%	19.8%	21.2%	31.2%	32.7%	26.7%	22.9%	22.0%	22.9%	25.0%	25.3%	23.4%
SG&A as % of revenue	17.6%	15.5%	15.1%	23.9%	24.4%	26.2%	26.7%	26.9%	28.3%	30.7%	23.5%	20.1%	18.6%	20.0%	18.9%	16.0%	15.0%
Capital spending as % of revenue	2.3%	3.2%	5.2%	5.1%	5.0%	9.1%	5.8%	4.7%	9.3%	7.6%	3.3%	3.0%	3.9%	3.8%	3.1%	4.4%	5.8%
Free cash flow ÷ net income	211.3%	—	—	91.0%	—	−9.4%	>999%	—	—	—	—	343.6%	34.2%	155.3%	182.4%	—	84.7%
Dividends and buybacks ÷ free cash flow	—	343.6%	9.0%	0.5%	15.1%	—	20.9%	65.6%	—	—	4.4%	18.0%	23.9%	22.9%	10.1%	22.4%	—

US$ thousands unless shown otherwise. Fiscal quarters.

Macom Technology Solutions Holdings, Inc.: financial ratios, quarterly
Quarter	2024 Q4Sept 2024	2025 Q1Jan 2025	2025 Q2Apr 2025	2025 Q3Jul 2025	2025 Q4Oct 2025	2026 Q1Jan 2026	2026 Q2Apr 2026	2026 Q3Jul 2026
Gross margin	54.7%	53.7%	55.2%	55.3%	54.5%	55.9%	56.9%	58.3%
Operating margin	13.7%	8.0%	14.8%	14.9%	15.2%	15.9%	17.6%	22.5%
Net margin	14.7%	−76.8%	13.4%	14.5%	17.3%	18.0%	16.0%	29.4%
Free-cash-flow margin	28.5%	28.1%	12.9%	20.5%	18.9%	11.0%	22.7%	17.3%
Current ratio	8.35	3.61	3.56	3.83	3.71	3.96	7.52	2.34
Debt to equity	39.8%	43.4%	41.6%	39.6%	37.7%	37.0%	24.0%	22.1%
R&D as % of revenue	24.7%	27.7%	24.5%	25.1%	24.1%	24.5%	23.9%	21.7%
SG&A as % of revenue	16.3%	18.0%	15.9%	15.2%	15.2%	15.5%	15.4%	14.1%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 6 checks passed · July 3, 2026

What it owns · $2.1bn

Short-term assets $1.2bnLonger-term assets $974m

What it owes, and who funded it · $2.1bn

Short-term liabilities $502mLonger-term liabilities $104mShareholders' equity $1.5bn

Short-term assets cover short-term liabilities $1.2bn of assets due within a year against $502m of liabilities due within a year.
Short-term assets cover long-term liabilities $1.2bn short-term assets against $104m of longer-dated liabilities.
More cash than debt $90m of cash against $340m of debt.
Debt below 40% of shareholders' equity Debt is 22% of equity.
Debt burden no higher than five years ago Debt to equity moved from 108% to 22% over five years.
A year's operating cash flow covers at least 20% of debt $271m of operating cash flow against $340m of debt.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Macom Technology Solutions Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

62 /100

Moderate moat

How hard Macom Technology Solutions Holdings's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 19 / 20

Cash operating profit has been a median 14.1% of total assets over 10 years.
Pricing power 15 / 20

Gross margin has been a median 54.7%, moving by 5.6 percentage points (standard deviation) across 10 years.
Durability 2 / 20

Operating margin has been a median 10.2%; its worst year was -71.6%.
Cash conversion 18 / 20

Free cash flow was positive in 9 of 10 years, at a median 18.2% of revenue.
Discipline 8 / 20

The diluted share count rose 10.4% over five years; stock-based pay has been a median 5.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Macom Technology Solutions Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Macom Technology Solutions Holdings, Inc.