MACOM Technology Solutions Holdings, Inc.MTSI
NasdaqGS•Technology•Semiconductors
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. 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.
MACOM Technology Solutions Hold (MTSI) reported trailing twelve months revenue of $1.07B as of April 2026, a 27.0% increase year-over-year. Quarterly revenue reached $288.95M, reflecting continued top-line momentum.
MACOM Technology Solutions Hold generated $176.75M in TTM net income, with quarterly EBITDA of $60.33M. The operating margin expanded from 14.8% to 17.6%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (17.6%) and net margin (16.0%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 13.4% a year ago, signaling stronger bottom-line efficiency.
MTSI trades at a P/E of 101.5x (a premium multiple) and a P/S of 16.7x. The price-to-book ratio of 12.7x indicates a significant premium over book value.
The company generated $65.47M in free cash flow over the trailing twelve months, a 114.5% increase year-over-year, indicating cash generation ability. The balance sheet shows $2.01B in total assets with $340.19M in long-term debt against $1.42B in stockholders equity for a debt-to-equity ratio of 0.2, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~13.8%, suggesting durable pricing power and cost discipline.
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~58.1% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~15.9% — no sign of cost or pricing stress.
FCF covers net income by 1.1x on average — earnings are well-supported by cash generation.
D/E ratio is 0.2 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding rose 4.4% — mild dilution. Compare to earnings growth to assess net per-share impact.