Quick verdict: AMPL vs MXL in 2026

Considering the comprehensive data, Amplitude, Inc. (AMPL) holds a slight overall edge based on a more favorable analyst outlook and less aggressive valuation multiples. MaxLinear (MXL) is the clear growth leader with higher revenue expansion, while AMPL demonstrates superior margin performance in terms of net margin and free cash flow yield. Analysts show a stronger preference for AMPL’s potential upside. This is not investment advice.

AMPL vs MXL: key metrics side by side

Full side-by-side comparison of AMPL and MXL across valuation, profitability, growth and analyst sentiment. Data updated 2026-05-12.

AMPL vs MXL valuation comparison

When assessing the AMPL vs MXL valuation, we observe significant differences, particularly in their price multiples. Amplitude (AMPL) currently trades at a Price-to-Earnings (P/E) ratio of -9.46x, while MaxLinear (MXL) sits at a P/E of -67.81x. Both negative P/E ratios indicate that neither company is profitable on a trailing twelve-month basis, a common characteristic in certain high-growth technology sectors. However, AMPL’s significantly less negative P/E suggests it is comparatively less “expensive” relative to its losses.

Further examining their valuation, AMPL boasts a Price-to-Book (P/B) ratio of 3.9x, which is considerably lower than MXL’s P/B ratio of 19.72x. This indicates that AMPL’s stock price is trading at a much smaller multiple of its book value compared to MXL, suggesting a potentially more attractive entry point for value-oriented investors despite the broader market’s perception. Both companies also show deeply negative Discounted Cash Flow (DCF) upsides, with AMPL at -131.3% and MXL at -102.2%. This implies that, based on current cash flow projections, both stocks may be significantly overvalued or face challenges in generating sufficient future cash flows to justify their current market capitalizations.

AMPL vs MXL growth comparison

In terms of revenue generation and growth momentum, MaxLinear (MXL) demonstrates a stronger trajectory than Amplitude (AMPL). MXL reported a robust year-over-year revenue growth of 29.7%, significantly outpacing AMPL’s 14.7%. This indicates that MXL is expanding its top line at a much faster rate, reflecting strong demand for its products and services in the current market environment. MXL’s revenue reached $467,641,000, which is also higher than AMPL’s revenue of $343,214,000.

Looking at operational efficiency, MXL also exhibits a superior EBITDA margin of -11.97% compared to AMPL’s -23.46%. While both companies operate with negative EBITDA margins, MXL’s less negative figure suggests better cost control or higher gross profitability before interest, taxes, depreciation, and amortization. AMPL, however, has a slightly better net margin at -25.11% versus MXL’s -25.96%. Overall, for investors prioritizing strong revenue expansion and improving operational efficiency, MaxLinear appears to have stronger momentum in the AMPL vs MXL growth comparison.

AMPL vs MXL profitability

When comparing the profitability of Amplitude (AMPL) and MaxLinear (MXL), it’s evident that both companies are currently facing challenges in generating positive earnings. AMPL reported a net margin of -25.11%, which is marginally better than MXL’s net margin of -25.96%. This indicates that while both are operating at a loss, AMPL is slightly more efficient in converting revenue into profit before non-operating items, or incurs slightly less overall costs relative to its revenue. Neither company reports a Return on Equity (ROE) as “N/A%”, suggesting they might have negative equity or the metric is not applicable given their current financial structure.

Despite both being unprofitable on a net basis, AMPL demonstrates a significantly healthier Free Cash Flow (FCF) yield of 2.62% compared to MXL’s 0.11%. A higher FCF yield suggests that AMPL is generating more cash from its operations relative to its market capitalization, which can be a strong indicator of financial health and operational efficiency, even when the company is not yet net profitable. This metric is crucial for understanding which company generates more cash to reinvest or manage debt, providing AMPL with an edge in this particular aspect of profitability.

Analyst ratings: AMPL vs MXL

Professional analyst sentiment provides a valuable perspective on the future prospects of these stocks. Amplitude (AMPL) is covered by 12 analysts, with a strong 66.7% recommending a “Buy” rating. The consensus price target for AMPL stands at $12, which represents an impressive +88.7% upside from its current price of $6.36. This indicates a high level of confidence among analysts regarding AMPL’s potential for significant price appreciation over the coming period.

In contrast, MaxLinear (MXL) is covered by a larger group of 17 analysts, with 64.7% issuing a “Buy” rating. While the percentage of “Buy” ratings is still quite high, it is slightly lower than AMPL’s. More significantly, MXL’s consensus price target is $52.71, which implies a substantial -48.5% downside from its current price of $102.27. This suggests that while analysts generally view MXL positively, their price targets forecast a potential correction or decline from its present valuation. Therefore, based on current price targets and upside potential, analysts clearly prefer AMPL.

Should I buy AMPL or MXL stock in 2026?

For growth investors looking for strong revenue momentum, MaxLinear (MXL) appears to be the more compelling choice. MXL’s impressive year-over-year revenue growth of 29.7% significantly outpaces AMPL’s 14.7%, indicating a faster expansion in its market share and overall business operations. This robust growth, coupled with a better (less negative) EBITDA margin of -11.97% compared to AMPL’s -23.46%, suggests MXL has stronger underlying operational improvements to support its scaling efforts.

When considering the “should i buy AMPL or MXL stock 2026” question from a value perspective, Amplitude (AMPL) presents a more attractive profile based on traditional valuation multiples. AMPL’s P/E ratio of -9.46x is considerably less negative than MXL’s -67.81x, and its P/B ratio of 3.9x is significantly lower than MXL’s 19.72x. While both stocks carry extremely negative DCF upsides (AMPL at -131.3% and MXL at -102.2%), implying significant overvaluation from a discounted cash flow perspective, AMPL’s multiples suggest a relatively ‘cheaper’ entry point compared to MXL for investors comfortable with unprofitable companies.

For income-focused investors, neither Amplitude (AMPL) nor MaxLinear (MXL) would be a suitable choice in 2026. Both companies currently have a dividend yield of 0%, indicating they do not distribute profits to shareholders through dividends. Their focus remains on reinvesting in growth and achieving profitability, which is typical for technology companies at their current stage. This is not investment advice; investors should conduct their own thorough research.

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FAQ: AMPL vs MXL