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Side-by-side financial comparison of AMERICAN FINANCIAL GROUP INC (AFG) and Marvell Technology, Inc. (MRVL). Click either name above to swap in a different company.

Marvell Technology, Inc. is the larger business by last-quarter revenue ($2.1B vs $2.1B, roughly 1.0× AMERICAN FINANCIAL GROUP INC). Marvell Technology, Inc. runs the higher net margin — 91.7% vs 14.5%, a 77.2% gap on every dollar of revenue. On growth, Marvell Technology, Inc. posted the faster year-over-year revenue change (36.8% vs -4.0%). Over the past eight quarters, Marvell Technology, Inc.'s revenue compounded faster (20.6% CAGR vs 4.0%).

The Western Union Company is an American multinational financial services corporation headquartered in Denver, Colorado.

Marvell Technology, Inc. is an American company, headquartered in Santa Clara, California, which develops and produces semiconductors and related technology. Founded in 1995, the company had more than 6,500 employees as of 2024, with over 10,000 patents worldwide, and an annual revenue of $5.5 billion for fiscal 2024.

AFG vs MRVL — Head-to-Head

Bigger by revenue
MRVL
MRVL
1.0× larger
MRVL
$2.1B
$2.1B
AFG
Growing faster (revenue YoY)
MRVL
MRVL
+40.8% gap
MRVL
36.8%
-4.0%
AFG
Higher net margin
MRVL
MRVL
77.2% more per $
MRVL
91.7%
14.5%
AFG
Faster 2-yr revenue CAGR
MRVL
MRVL
Annualised
MRVL
20.6%
4.0%
AFG

Income Statement — Q4 FY2025 vs Q3 FY2026

Metric
AFG
AFG
MRVL
MRVL
Revenue
$2.1B
$2.1B
Net Profit
$299.0M
$1.9B
Gross Margin
51.6%
Operating Margin
18.4%
17.2%
Net Margin
14.5%
91.7%
Revenue YoY
-4.0%
36.8%
Net Profit YoY
17.3%
381.1%
EPS (diluted)
$3.59
$2.20

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AFG
AFG
MRVL
MRVL
Q4 25
$2.1B
$2.1B
Q3 25
$2.3B
$2.0B
Q2 25
$1.9B
$1.9B
Q1 25
$1.9B
$1.8B
Q4 24
$2.1B
$1.5B
Q3 24
$2.4B
$1.3B
Q2 24
$1.9B
$1.2B
Q1 24
$1.9B
$1.4B
Net Profit
AFG
AFG
MRVL
MRVL
Q4 25
$299.0M
$1.9B
Q3 25
$215.0M
$194.8M
Q2 25
$174.0M
$177.9M
Q1 25
$154.0M
$200.2M
Q4 24
$255.0M
$-676.3M
Q3 24
$181.0M
$-193.3M
Q2 24
$209.0M
$-215.6M
Q1 24
$242.0M
$-392.7M
Gross Margin
AFG
AFG
MRVL
MRVL
Q4 25
51.6%
Q3 25
50.4%
Q2 25
50.3%
Q1 25
50.5%
Q4 24
23.0%
Q3 24
46.2%
Q2 24
45.5%
Q1 24
46.6%
Operating Margin
AFG
AFG
MRVL
MRVL
Q4 25
18.4%
17.2%
Q3 25
11.5%
14.5%
Q2 25
11.9%
14.3%
Q1 25
10.6%
12.9%
Q4 24
14.9%
-46.4%
Q3 24
9.7%
-7.9%
Q2 24
14.3%
-13.1%
Q1 24
15.9%
-2.3%
Net Margin
AFG
AFG
MRVL
MRVL
Q4 25
14.5%
91.7%
Q3 25
9.2%
9.7%
Q2 25
9.0%
9.4%
Q1 25
8.3%
11.0%
Q4 24
11.9%
-44.6%
Q3 24
7.6%
-15.2%
Q2 24
11.0%
-18.6%
Q1 24
12.7%
-27.5%
EPS (diluted)
AFG
AFG
MRVL
MRVL
Q4 25
$3.59
$2.20
Q3 25
$2.58
$0.22
Q2 25
$2.07
$0.20
Q1 25
$1.84
$0.23
Q4 24
$3.03
$-0.78
Q3 24
$2.16
$-0.22
Q2 24
$2.49
$-0.25
Q1 24
$2.89
$-0.45

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AFG
AFG
MRVL
MRVL
Cash + ST InvestmentsLiquidity on hand
$1.7B
$2.7B
Total DebtLower is stronger
$1.8B
$4.5B
Stockholders' EquityBook value
$4.8B
$14.1B
Total Assets
$32.6B
$21.6B
Debt / EquityLower = less leverage
0.38×
0.32×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AFG
AFG
MRVL
MRVL
Q4 25
$1.7B
$2.7B
Q3 25
$1.8B
$1.2B
Q2 25
$1.3B
$885.9M
Q1 25
$1.3B
$948.3M
Q4 24
$1.4B
$868.1M
Q3 24
$1.3B
$808.7M
Q2 24
$1.1B
$847.7M
Q1 24
$1.1B
$950.8M
Total Debt
AFG
AFG
MRVL
MRVL
Q4 25
$1.8B
$4.5B
Q3 25
$1.8B
$4.5B
Q2 25
$1.5B
$4.2B
Q1 25
$1.5B
$4.1B
Q4 24
$1.5B
$4.1B
Q3 24
$1.5B
$4.1B
Q2 24
$1.5B
$4.1B
Q1 24
$1.5B
$4.2B
Stockholders' Equity
AFG
AFG
MRVL
MRVL
Q4 25
$4.8B
$14.1B
Q3 25
$4.7B
$13.4B
Q2 25
$4.5B
$13.3B
Q1 25
$4.4B
$13.4B
Q4 24
$4.5B
$13.4B
Q3 24
$4.7B
$14.2B
Q2 24
$4.4B
$14.5B
Q1 24
$4.2B
$14.8B
Total Assets
AFG
AFG
MRVL
MRVL
Q4 25
$32.6B
$21.6B
Q3 25
$33.8B
$20.6B
Q2 25
$30.7B
$20.0B
Q1 25
$30.3B
$20.2B
Q4 24
$30.8B
$19.7B
Q3 24
$32.6B
$20.3B
Q2 24
$29.9B
$20.5B
Q1 24
$30.0B
$21.2B
Debt / Equity
AFG
AFG
MRVL
MRVL
Q4 25
0.38×
0.32×
Q3 25
0.38×
0.33×
Q2 25
0.33×
0.32×
Q1 25
0.34×
0.30×
Q4 24
0.33×
0.31×
Q3 24
0.31×
0.29×
Q2 24
0.34×
0.29×
Q1 24
0.35×
0.28×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AFG
AFG
MRVL
MRVL
Operating Cash FlowLast quarter
$784.0M
$582.3M
Free Cash FlowOCF − Capex
$508.8M
FCF MarginFCF / Revenue
24.5%
Capex IntensityCapex / Revenue
3.5%
Cash ConversionOCF / Net Profit
2.62×
0.31×
TTM Free Cash FlowTrailing 4 quarters
$1.6B

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AFG
AFG
MRVL
MRVL
Q4 25
$784.0M
$582.3M
Q3 25
$216.0M
$461.6M
Q2 25
$191.0M
$332.9M
Q1 25
$342.0M
$514.0M
Q4 24
$674.0M
$536.3M
Q3 24
$459.0M
$306.4M
Q2 24
$-88.0M
$324.5M
Q1 24
$107.0M
$546.6M
Free Cash Flow
AFG
AFG
MRVL
MRVL
Q4 25
$508.8M
Q3 25
$414.1M
Q2 25
$214.1M
Q1 25
$444.1M
Q4 24
$461.3M
Q3 24
$258.2M
Q2 24
$233.0M
Q1 24
$475.6M
FCF Margin
AFG
AFG
MRVL
MRVL
Q4 25
24.5%
Q3 25
20.6%
Q2 25
11.3%
Q1 25
24.4%
Q4 24
30.4%
Q3 24
20.3%
Q2 24
20.1%
Q1 24
33.3%
Capex Intensity
AFG
AFG
MRVL
MRVL
Q4 25
3.5%
Q3 25
2.4%
Q2 25
6.3%
Q1 25
3.8%
Q4 24
4.9%
Q3 24
3.8%
Q2 24
7.9%
Q1 24
5.0%
Cash Conversion
AFG
AFG
MRVL
MRVL
Q4 25
2.62×
0.31×
Q3 25
1.00×
2.37×
Q2 25
1.10×
1.87×
Q1 25
2.22×
2.57×
Q4 24
2.64×
Q3 24
2.54×
Q2 24
-0.42×
Q1 24
0.44×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AFG
AFG

Property And Casualty Insurance$2.0B96%
Other$83.0M4%

MRVL
MRVL

Segment breakdown not available.

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