Broadcom Inc. (AVGO) 10-Year Financial Performance & Capital Metrics

AVGO • • Industrial / General

TechnologySemiconductorsConnectivity & Communication SemiconductorsNetworking & Interface

AboutBroadcom, Inc. is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. The company is headquartered in San Jose, California and currently employs 19,000 full-time employees. The firm operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other. The company offers a range of products that are used in end-products, such as enterprise and data center networking, home connectivity, set-top boxes, telecommunication equipment, smartphones, data center servers and storage systems, factory automation, power generation and alternative energy systems, and electronic displays. Its product portfolio ranges from discrete devices to complex sub-systems that include multiple device types, and also includes firmware for interfacing between analog and digital systems. Its products include mechanical hardware that interfaces with optoelectronic or capacitive sensors.Show more

Revenue $51.57B +44.0%
EBITDA $23.47B +17.1%
Net Income $5.89B -58.1%
EPS (Diluted) 1.23 -62.7%
Gross Margin 63.03% -8.6%
EBITDA Margin 45.51% -18.7%
Operating Margin 26.1% -42.3%
Net Margin 11.43% -70.9%
ROE 12.86% -78.7%
ROIC 11.52% -52.8%
Debt/Equity 1.00 -39.6%
Interest Coverage 3.41 -65.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 40.5%
✓Strong 5Y profit CAGR of 16.7%
✓FCF machine: 37.6% free cash flow margin
✓15 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 17.9%

✗Weaknesses

✗Dividend payout exceeds 100% of earnings
✗Shares diluted 11.9% in last year
✗Expensive at 25.0x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y28.3%

5Y17.94%

3Y23.39%

TTM28.01%

Profit (Net Income) CAGR

10Y36.47%

5Y16.7%

3Y-4.35%

TTM271.58%

EPS CAGR

10Y28.66%

5Y13.96%

3Y-6.4%

TTM240.87%

ROCE

10Y Avg11.39%

5Y Avg15.32%

3Y Avg19.39%

Latest12.56%

Peer Comparison

Networking & Interface

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AVGOBroadcom Inc.	1.68T	354.61	288.30	43.98%	31.59%	25.84%	1.15%	1.00
MXLMaxLinear, Inc.	1.6B	18.34	-6.26	-48%	-42.43%	-38.65%		0.29
VLNValens Semiconductor Ltd.	239.54M	2.34	-6.88	-31.25%	-44.38%	-27.68%		0.05
MRVLMarvell Technology, Inc.	70.43B	83.05	-81.42	4.71%	31.75%	17.6%	1.97%	0.32
ALABAstera Labs, Inc. Common Stock	30.5B	180.56	-282.13	242.24%	27.5%	15.64%	0.34%	0.00

Profit & Loss

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Sales/Revenue+	6.82B	13.24B	17.64B	20.85B	22.6B	23.89B	27.45B	33.2B	35.82B	51.57B
Revenue Growth %	0.6%	0.94%	0.33%	0.18%	0.08%	0.06%	0.15%	0.21%	0.08%	0.44%
Cost of Goods Sold+	3.27B	7.3B	9.13B	10.12B	10.11B	10.37B	10.61B	11.11B	11.13B	19.07B
COGS % of Revenue	0.48%	0.55%	0.52%	0.49%	0.45%	0.43%	0.39%	0.33%	0.31%	0.37%
Gross Profit+	3.55B	5.94B	8.51B	10.73B	12.48B	13.52B	16.84B	22.09B	24.69B	32.51B
Gross Margin %	0.52%	0.45%	0.48%	0.51%	0.55%	0.57%	0.61%	0.67%	0.69%	0.63%
Gross Profit Growth %	0.89%	0.67%	0.43%	0.26%	0.16%	0.08%	0.25%	0.31%	0.12%	0.32%
Operating Expenses+	1.92B	6.35B	6.14B	5.6B	9.04B	9.5B	8.32B	7.81B	8.48B	19.05B
OpEx % of Revenue	0.28%	0.48%	0.35%	0.27%	0.4%	0.4%	0.3%	0.24%	0.24%	0.37%
Selling, General & Admin	486M	806M	789M	1.06B	1.71B	1.94B	1.35B	1.38B	1.59B	4.96B
SG&A % of Revenue	0.07%	0.06%	0.04%	0.05%	0.08%	0.08%	0.05%	0.04%	0.04%	0.1%
Research & Development	1.05B	2.67B	3.29B	3.77B	4.7B	4.97B	4.85B	4.92B	5.25B	9.31B
R&D % of Revenue	0.15%	0.2%	0.19%	0.18%	0.21%	0.21%	0.18%	0.15%	0.15%	0.18%
Other Operating Expenses	386M	2.87B	2.06B	774M	2.63B	2.6B	2.12B	1.51B	1.64B	4.78B
Operating Income+	1.63B	-409M	2.37B	5.13B	3.44B	4.01B	8.52B	14.22B	16.21B	13.46B
Operating Margin %	0.24%	-0.03%	0.13%	0.25%	0.15%	0.17%	0.31%	0.43%	0.45%	0.26%
Operating Income Growth %	2.73%	-1.25%	6.8%	1.17%	-0.33%	0.17%	1.12%	0.67%	0.14%	-0.17%
EBITDA+	2.59B	2.63B	7.1B	9.2B	9.22B	10.92B	14.56B	19.21B	20.04B	23.47B
EBITDA Margin %	0.38%	0.2%	0.4%	0.44%	0.41%	0.46%	0.53%	0.58%	0.56%	0.46%
EBITDA Growth %	1.44%	0.01%	1.7%	0.3%	0%	0.18%	0.33%	0.32%	0.04%	0.17%
D&A (Non-Cash Add-back)	962M	3.04B	4.73B	4.06B	5.78B	6.91B	6.04B	4.98B	3.83B	10.01B
EBIT	1.66B	-522M	2.28B	5.17B	3.67B	4.22B	8.65B	14.17B	16.72B	13.87B
Net Interest Income+	-183M	-575M	-410M	-514M	-1.35B	-1.72B	-1.87B	-1.64B	-1.09B	-3.49B
Interest Income	8M	10M	44M	114M	98M	53M	16M	100M	535M	461M
Interest Expense	191M	585M	454M	628M	1.44B	1.78B	1.89B	1.74B	1.62B	3.95B
Other Income/Expense	-165M	-698M	-546M	-590M	-1.22B	-1.57B	-1.75B	-1.79B	-1.11B	-3.55B
Pretax Income+	1.47B	-1.11B	1.82B	4.54B	2.23B	2.44B	6.76B	12.43B	15.1B	9.92B
Pretax Margin %	0.21%	-0.08%	0.1%	0.22%	0.1%	0.1%	0.25%	0.37%	0.42%	0.19%
Income Tax+	76M	642M	35M	-8.08B	-510M	-518M	29M	939M	1.01B	3.75B
Effective Tax Rate %	0.93%	1.57%	0.93%	2.7%	1.22%	1.21%	1%	0.92%	0.93%	0.59%
Net Income+	1.36B	-1.74B	1.69B	12.26B	2.72B	2.96B	6.74B	11.49B	14.08B	5.89B
Net Margin %	0.2%	-0.13%	0.1%	0.59%	0.12%	0.12%	0.25%	0.35%	0.39%	0.11%
Net Income Growth %	4.19%	-2.27%	1.97%	6.25%	-0.78%	0.09%	1.28%	0.71%	0.23%	-0.58%
Net Income (Continuing)	1.39B	-1.75B	1.79B	12.63B	2.74B	2.96B	6.74B	11.49B	14.08B	6.17B
Discontinued Operations	0	0	-6M	0	-12M	-1M	0	0	0	-273M
Minority Interest	0	2.98B	2.9B	0	0	0	0	0	0	0
EPS (Diluted)+	0.49	-0.44	0.42	2.84	0.64	0.63	1.50	2.65	3.30	1.23
EPS Growth %	3.95%	-1.9%	1.95%	5.76%	-0.77%	-0.02%	1.38%	0.77%	0.25%	-0.63%
EPS (Basic)	0.52	-0.48	0.42	2.93	0.68	0.66	1.57	2.74	3.39	1.27
Diluted Shares Outstanding	2.81B	3.83B	4.09B	4.31B	4.19B	4.21B	4.29B	4.23B	4.27B	4.78B
Basic Shares Outstanding	2.64B	3.66B	4.05B	4.18B	3.98B	4.02B	4.1B	4.09B	4.15B	4.62B
Dividend Payout Ratio	0.3%	-	0.98%	0.24%	1.55%	1.87%	0.92%	0.61%	0.54%	1.66%

Balance Sheet

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Total Current Assets+	3.77B	7.13B	15.82B	9.11B	9.92B	11.89B	16.59B	18.5B	20.85B	19.59B
Cash & Short-Term Investments	1.82B	3.1B	11.2B	4.29B	5.05B	7.62B	12.16B	12.42B	14.19B	9.35B
Cash Only	1.82B	3.1B	11.2B	4.29B	5.05B	7.62B	12.16B	12.42B	14.19B	9.35B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.02B	2.18B	2.45B	3.33B	3.26B	2.3B	2.07B	2.96B	3.15B	4.42B
Days Sales Outstanding	54.5	60.13	50.66	58.21	52.64	35.1	27.54	32.52	32.14	31.25
Inventory	524M	1.4B	1.45B	1.12B	874M	1B	1.3B	1.93B	1.9B	1.76B
Days Inventory Outstanding	58.47	70	57.87	40.56	31.54	35.3	44.64	63.25	62.25	33.7
Other Current Assets	394M	447M	284M	123M	427M	590M	516M	341M	863M	4.07B
Total Non-Current Assets+	6.76B	42.84B	38.59B	41.02B	57.58B	64.04B	58.98B	54.74B	52.01B	146.05B
Property, Plant & Equipment	1.46B	2.51B	2.6B	2.63B	2.56B	2.51B	2.35B	2.22B	2.62B	2.52B
Fixed Asset Turnover	4.67x	5.28x	6.79x	7.91x	8.81x	9.52x	11.69x	14.94x	13.69x	20.46x
Goodwill	1.67B	24.73B	24.71B	26.91B	36.71B	43.45B	43.45B	43.61B	43.65B	97.87B
Intangible Assets	3.28B	15.07B	10.83B	10.76B	17.55B	16.78B	11.37B	7.11B	3.87B	40.58B
Long-Term Investments	27M	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	318M	532M	437M	707M	743M	1.06B	1.81B	1.8B	1.88B	5.07B
Total Assets+	10.52B	49.97B	54.42B	50.12B	67.49B	75.93B	75.57B	73.25B	72.86B	165.65B
Asset Turnover	0.65x	0.26x	0.32x	0.42x	0.33x	0.31x	0.36x	0.45x	0.49x	0.31x
Asset Growth %	0%	3.75%	0.09%	-0.08%	0.35%	0.13%	-0%	-0.03%	-0.01%	1.27%
Total Current Liabilities+	1.12B	3.08B	2.53B	2.34B	6.9B	6.37B	6.28B	7.05B	7.41B	16.7B
Accounts Payable	617M	1.26B	1.1B	811M	855M	836M	1.09B	998M	1.21B	1.66B
Days Payables Outstanding	68.85	63.05	44.19	29.27	30.86	29.42	37.37	32.79	39.68	31.82
Short-Term Debt	46M	454M	117M	0	2.79B	827M	264M	403M	1.56B	1.25B
Deferred Revenue (Current)	1000K	1000K	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	-46M	-2M	558M	486M	886M	651M	1.38B	1.54B	1.19B	3.11B
Current Ratio	3.37x	2.31x	6.26x	3.90x	1.44x	1.87x	2.64x	2.62x	2.82x	1.17x
Quick Ratio	2.91x	1.86x	5.68x	3.41x	1.31x	1.71x	2.43x	2.35x	2.56x	1.07x
Cash Conversion Cycle	44.13	67.08	64.34	69.51	53.33	40.97	34.8	62.98	54.7	33.13
Total Non-Current Liabilities+	4.68B	25.01B	28.7B	21.13B	35.62B	45.66B	44.3B	43.49B	41.47B	81.27B
Long-Term Debt	3.83B	13.19B	17.43B	17.49B	30.01B	40.23B	39.4B	39.05B	37.62B	66.3B
Capital Lease Obligations	0	0	0	0	0	575M	499M	411M	363M	13M
Deferred Tax Liabilities	9M	10.29B	10.02B	169M	4.8B	0	-566M	3.23B	-299M	4.7B
Other Non-Current Liabilities	847M	1.54B	1.25B	3.47B	5.61B	4.03B	4.4B	385M	3.49B	5.17B
Total Liabilities	5.8B	28.09B	31.23B	23.47B	42.52B	52.03B	50.58B	50.54B	48.87B	97.97B
Total Debt+	3.87B	13.64B	17.55B	17.49B	32.8B	41.69B	40.27B	39.98B	39.65B	67.57B
Net Debt	2.05B	10.54B	6.34B	13.2B	27.74B	34.07B	28.11B	27.56B	25.46B	58.22B
Debt / Equity	0.82x	0.62x	0.76x	0.66x	1.31x	1.74x	1.61x	1.76x	1.65x	1.00x
Debt / EBITDA	1.49x	5.19x	2.47x	1.90x	3.56x	3.82x	2.77x	2.08x	1.98x	2.88x
Net Debt / EBITDA	0.79x	4.01x	0.89x	1.44x	3.01x	3.12x	1.93x	1.43x	1.27x	2.48x
Interest Coverage	8.54x	-0.70x	5.22x	8.18x	2.39x	2.26x	4.52x	8.19x	9.99x	3.41x
Total Equity+	4.71B	21.88B	23.19B	26.66B	24.97B	23.9B	24.99B	22.71B	23.99B	67.68B
Equity Growth %	0.45%	3.64%	0.06%	0.15%	-0.06%	-0.04%	0.05%	-0.09%	0.06%	1.82%
Book Value per Share	1.68	5.71	5.67	6.18	5.96	5.68	5.82	5.37	5.62	14.16
Total Shareholders' Equity	4.71B	18.89B	20.29B	26.66B	24.97B	23.9B	24.99B	22.71B	23.99B	67.68B
Common Stock	2.55B	19.24B	20.5B	23.29B	0	0	0	0	0	5M
Retained Earnings	2.24B	-215M	-129M	3.49B	0	0	748M	1.6B	2.68B	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-73M	-134M	-91M	-115M	-140M	-108M	-116M	-54M	207M	207M
Minority Interest	0	2.98B	2.9B	0	0	0	0	0	0	0

Cash Flow

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Cash from Operations+	2.32B	3.41B	6.55B	8.88B	9.7B	12.06B	13.76B	16.74B	18.09B	19.96B
Operating CF Margin %	0.34%	0.26%	0.37%	0.43%	0.43%	0.5%	0.5%	0.5%	0.5%	0.39%
Operating CF Growth %	0.97%	0.47%	0.92%	0.36%	0.09%	0.24%	0.14%	0.22%	0.08%	0.1%
Net Income	1.36B	-1.86B	1.89B	12.61B	2.72B	2.96B	6.74B	11.49B	14.08B	5.89B
Depreciation & Amortization	962M	3.04B	4.74B	4.08B	5.81B	6.91B	6.04B	4.98B	3.83B	10.01B
Stock-Based Compensation	232M	679M	921M	1.23B	2.19B	1.98B	1.7B	1.53B	2.17B	5.74B
Deferred Taxes	-90M	365M	-173M	-8.27B	-934M	-1.14B	-809M	-34M	-501M	1.97B
Other Non-Cash Items	16M	703M	-93M	58M	98M	269M	219M	412M	141M	988M
Working Capital Changes	-166M	483M	-735M	-826M	-184M	1.09B	-127M	-1.65B	-1.64B	-4.64B
Change in Receivables	-187M	-491M	-267M	-652M	486M	981M	210M	-870M	-187M	2.33B
Change in Inventory	62M	996M	-39M	417M	250M	-31M	-294M	-627M	27M	150M
Change in Payables	29M	33M	-97M	-325M	-42M	-3M	243M	-79M	209M	121M
Cash from Investing+	-241M	-9.84B	-674M	-4.67B	-15.42B	-11.11B	-245M	-667M	-689M	-23.07B
Capital Expenditures	-593M	-723M	-1.07B	-635M	-432M	-463M	-443M	-424M	-452M	-548M
CapEx % of Revenue	0.09%	0.05%	0.06%	0.03%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	110M	-6M	432M	183M	86M	8M	-12M	3M	-66M	3.48B
Cash from Financing+	-1.86B	7.7B	2.23B	-11.12B	6.49B	1.61B	-8.97B	-15.82B	-15.62B	-1.73B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-408M	-750M	-1.65B	-3B	-4.24B	-5.53B	-6.21B	-7.03B	-7.64B	-9.81B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	125M	-34M	-92M	-45M	-36M	-69M	-42M	-17M	-12M	-63M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.73B	2.69B	5.48B	8.24B	9.27B	11.6B	13.32B	16.31B	17.63B	19.41B
FCF Margin %	0.25%	0.2%	0.31%	0.4%	0.41%	0.49%	0.49%	0.49%	0.49%	0.38%
FCF Growth %	1.25%	0.56%	1.04%	0.5%	0.12%	0.25%	0.15%	0.22%	0.08%	0.1%
FCF per Share	0.61	0.70	1.34	1.91	2.21	2.75	3.11	3.86	4.13	4.06
FCF Conversion (FCF/Net Income)	1.70x	-1.96x	3.87x	0.72x	3.56x	4.07x	2.04x	1.46x	1.28x	3.39x
Interest Paid	172M	448M	310M	547M	1.29B	1.41B	1.56B	1.39B	1.5B	3.25B
Taxes Paid	138M	242M	349M	512M	741M	501M	775M	908M	1.78B	3.15B

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	34.28%	-13.08%	7.51%	49.19%	10.55%	12.11%	27.56%	48.2%	60.31%	12.86%
Return on Invested Capital (ROIC)	17.6%	-1.57%	5.74%	11.1%	5.58%	5.44%	11.5%	20.64%	24.38%	11.52%
Gross Margin	52.07%	44.86%	48.25%	51.48%	55.24%	56.58%	61.36%	66.55%	68.93%	63.03%
Net Margin	19.99%	-13.13%	9.59%	58.8%	12.05%	12.39%	24.54%	34.62%	39.31%	11.43%
Debt / Equity	0.82x	0.62x	0.76x	0.66x	1.31x	1.74x	1.61x	1.76x	1.65x	1.00x
Interest Coverage	8.54x	-0.70x	5.22x	8.18x	2.39x	2.26x	4.52x	8.19x	9.99x	3.41x
FCF Conversion	1.70x	-1.96x	3.87x	0.72x	3.56x	4.07x	2.04x	1.46x	1.28x	3.39x
Revenue Growth	59.85%	94.02%	33.2%	18.21%	8.39%	5.71%	14.91%	20.96%	7.88%	43.98%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Semiconductor Solutions	-	17.37B	17.27B	20.38B	25.82B	28.18B	30.1B
Semiconductor Solutions Growth	-	-	-0.58%	18.05%	26.66%	9.16%	6.79%
Infrastructure Software	-	5.16B	6.62B	7.07B	7.38B	7.64B	21.48B
Infrastructure Software Growth	-	-	28.41%	6.74%	4.50%	3.41%	181.24%
Wired Infrastructure	8.67B	-	-	-	-	-	-
Wired Infrastructure Growth	-	-	-	-	-	-	-
Wireless Communications	6.49B	-	-	-	-	-	-
Wireless Communications Growth	-	-	-	-	-	-	-
Enterprise Storage	4.67B	-	-	-	-	-	-
Enterprise Storage Growth	-	-	-	-	-	-	-
Industrial And Other	1.01B	-	-	-	-	-	-
Industrial And Other Growth	-	-	-	-	-	-	-

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
Asia Pacific	10.3B	15.23B	15.32B	17.98B	22.5B	23.92B	28.42B
Asia Pacific Growth	-	47.80%	0.60%	17.33%	25.18%	6.29%	18.82%
Americas	2.7B	5.15B	5.83B	6.1B	6.94B	8.28B	14.97B
Americas Growth	-	90.92%	13.30%	4.54%	13.85%	19.23%	80.82%
EMEA	-	2.22B	2.73B	3.37B	3.75B	3.62B	8.18B
EMEA Growth	-	-	23.18%	23.51%	11.30%	-3.57%	126.02%

Frequently Asked Questions

Valuation & Price

Broadcom Inc. (AVGO) has a price-to-earnings (P/E) ratio of 288.3x. This suggests investors expect higher future growth.

Growth & Financials

Broadcom Inc. (AVGO) reported $59.93B in revenue for fiscal year 2024. This represents a 2465% increase from $2.34B in 2011.

Broadcom Inc. (AVGO) grew revenue by 44.0% over the past year. This is strong growth.

Yes, Broadcom Inc. (AVGO) is profitable, generating $18.93B in net income for fiscal year 2024 (11.4% net margin).

Dividend & Returns

Yes, Broadcom Inc. (AVGO) pays a dividend with a yield of 0.58%. This makes it attractive for income-focused investors.

Broadcom Inc. (AVGO) has a return on equity (ROE) of 12.9%. This is reasonable for most industries.

Broadcom Inc. (AVGO) generated $24.93B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...