Qorvo, Inc. (QRVO) 10-Year Financial Performance & Capital Metrics

QRVO •

TechnologySemiconductorsAnalog, Mixed-Signal and RF Chips

AboutQorvo, Inc. develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers. The company's also provides SiC products, such as Schottky diodes and transistors for automotive, industrial, IT infrastructure and renewable energy markets; SoC hardware, firmware, and application software for smart home applications; power management solutions include programmable power management integrated circuits (ICs) and power application controllers; RF products and compound semiconductor foundry services to defense primes and other global defense and aerospace customers; RF connectivity and UWB SoC solutions for automotive connectivity; and Wi-Fi products, such as PAs, switches, LNAs and bulk acoustic wave filters, as well as integrated solutions including front end modules (FEMs) and integrated FEMs. It sells its products directly to original equipment manufacturers and original design manufacturers, as well as through a network of sales representative firms and distributors. The company was founded in 1957 and is headquartered in Greensboro, North Carolina.Show more

Revenue $3.72B -1.3%
EBITDA $392M -4.9%
Net Income $56M +179.1%
EPS (Diluted) 0.58 +180.6%
Gross Margin 41.29% +4.6%
EBITDA Margin 10.55% -3.6%
Operating Margin 2.57% +5.6%
Net Margin 1.5% +180.2%
ROE 1.6% +184.9%
ROIC 1.7% +19.3%
Debt/Equity 0.46 -18.3%
Interest Coverage 1.22 -7.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 9/9
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 2.2% through buybacks

✗Weaknesses

✗Weak 3Y average ROE of 0.7%
✗Profits declining 30.1% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.07%

5Y2.8%

3Y-7.15%

TTM0.56%

Profit (Net Income) CAGR

10Y-11.85%

5Y-30.14%

3Y-62.24%

TTM512.47%

EPS CAGR

10Y-7.89%

5Y-27.01%

3Y-60.29%

TTM521.26%

ROCE

10Y Avg4.13%

5Y Avg7.8%

3Y Avg2.08%

Latest1.82%

Peer Comparison

Analog, Mixed-Signal and RF Chips

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
QRVOQorvo, Inc.	7.68B	82.90	142.93	-1.34%	9.11%	9.21%	6.31%	0.46
ALABAstera Labs, Inc. Common Stock	20.23B	118.83	97.40	115.13%	25.7%	16.07%	1.39%
ADIAnalog Devices, Inc.	173.7B	355.79	78.02	16.89%	23.02%	8.01%	2.46%	0.26
AVGOBroadcom Inc.	1.52T	319.55	66.99	23.87%	36.2%	28.45%	1.78%	0.80
TXNTexas Instruments Incorporated	192.5B	212.11	38.92	13.05%	28.28%	30.73%	1.35%	0.86
NXPINXP Semiconductors N.V.	57.13B	227.01	28.55	-2.74%	16.47%	19.34%	4.24%	1.17
QCOMQUALCOMM Incorporated	152.89B	142.36	28.42	13.66%	11.96%	23.25%	8.38%	0.77
CRUSCirrus Logic, Inc.	7.38B	141.12	23.52	5.99%	20.47%	18.74%	5.63%	0.07

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	2.61B	3.03B	2.97B	3.09B	3.24B	4.02B	4.65B	3.57B	3.77B	3.72B
Revenue Growth %	52.59%	16.16%	-1.95%	3.93%	4.82%	23.96%	15.7%	-23.17%	5.61%	-1.34%
Cost of Goods Sold+	1.56B	1.9B	1.83B	1.9B	1.92B	2.13B	2.36B	2.27B	2.28B	2.18B
COGS % of Revenue	59.8%	62.56%	61.43%	61.32%	59.19%	53.09%	50.79%	63.67%	60.51%	58.71%
Gross Profit+	1.05B	1.14B	1.15B	1.2B	1.32B	1.88B	2.29B	1.3B	1.49B	1.54B
Gross Margin %	40.2%	37.44%	38.57%	38.67%	40.81%	46.91%	49.21%	36.34%	39.49%	41.29%
Gross Profit Growth %	52.26%	8.19%	1.01%	4.2%	10.59%	42.5%	21.37%	-43.27%	14.77%	3.16%
Operating Expenses+	1.04B	1.05B	1.08B	978.72M	898.55M	976.94M	1.06B	1.11B	1.4B	1.44B
OpEx % of Revenue	39.74%	34.54%	36.21%	31.67%	27.74%	24.33%	22.82%	31.2%	37.06%	38.72%
Selling, General & Admin	534.1M	545.59M	527.75M	476.07M	343.57M	367.24M	349.72M	358.79M	389.14M	403.62M
SG&A % of Revenue	20.46%	17.99%	17.75%	15.41%	10.61%	9.15%	7.53%	10.05%	10.32%	10.85%
Research & Development	448.76M	470.84M	445.1M	450.48M	484.41M	570.39M	623.64M	649.84M	682.25M	747.71M
R&D % of Revenue	17.19%	15.53%	14.97%	14.58%	14.95%	14.21%	13.42%	18.21%	18.1%	20.11%
Other Operating Expenses	6.42M	-1.88M	103.83M	52.16M	70.56M	39.31M	86.75M	105.14M	325.4M	288.73M
Operating Income+	11.97M	88.06M	-637.52M	216.47M	423.22M	906.63M	1.23B	183.17M	91.7M	95.53M
Operating Margin %	0.46%	2.9%	-21.44%	7%	13.07%	22.58%	26.39%	5.13%	2.43%	2.57%
Operating Income Growth %	-90.23%	635.79%	-823.97%	133.95%	95.51%	114.22%	35.23%	-85.06%	-49.94%	4.17%
EBITDA+	686.92M	792.64M	76.69M	879.56M	892.15M	1.36B	1.59B	522.02M	412.63M	392.36M
EBITDA Margin %	26.31%	26.14%	2.58%	28.46%	27.54%	33.94%	34.17%	14.62%	10.95%	10.55%
EBITDA Growth %	102.36%	15.39%	-90.32%	1046.86%	1.43%	52.75%	16.49%	-67.12%	-20.95%	-4.91%
D&A (Non-Cash Add-back)	674.95M	704.58M	714.22M	663.1M	468.93M	456.1M	361.42M	338.85M	320.93M	296.84M
EBIT	20.45M	86.18M	76.69M	135.75M	455.48M	882.58M	1.24B	193.09M	142.81M	144.23M
Net Interest Income+	-21.25M	-57.67M	-52.53M	-32.99M	-48.33M	-75.2M	-63.33M	-68.46M	-69.25M	-78.33M
Interest Income	2.07M	1.21M	7.02M	10.97M	12.07M	0	0	0	0	0
Interest Expense	23.32M	58.88M	59.55M	43.96M	60.39M	75.2M	63.33M	68.46M	69.25M	78.33M
Other Income/Expense	-14.83M	-60.75M	-53.14M	-124.67M	-28.13M	-99.25M	-44.98M	-58.54M	-18.14M	-29.63M
Pretax Income+	-2.86M	27.3M	17.14M	91.79M	395.09M	807.38M	1.18B	124.63M	73.56M	65.9M
Pretax Margin %	-0.11%	0.9%	0.58%	2.97%	12.2%	20.11%	25.42%	3.49%	1.95%	1.77%
Income Tax+	25.98M	43.86M	57.43M	-41.33M	60.76M	73.77M	147.73M	21.48M	143.88M	10.28M
Effective Tax Rate %	1007.86%	-60.64%	-234.98%	145.03%	84.62%	90.86%	87.49%	82.77%	-95.6%	84.39%
Net Income+	-28.84M	-16.56M	-40.29M	133.13M	334.32M	733.61M	1.03B	103.15M	-70.32M	55.62M
Net Margin %	-1.1%	-0.55%	-1.35%	4.31%	10.32%	18.27%	22.24%	2.89%	-1.87%	1.5%
Net Income Growth %	-114.69%	42.6%	-143.31%	430.43%	151.14%	119.43%	40.86%	-90.02%	-168.17%	179.09%
Net Income (Continuing)	-28.84M	-16.56M	-40.29M	133.13M	334.32M	733.61M	1.03B	103.15M	-70.32M	55.62M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.20	-0.13	-0.32	1.05	2.80	6.32	9.26	1.00	-0.72	0.58
EPS Growth %	-115.15%	35%	-146.15%	428.13%	166.67%	125.71%	46.52%	-89.2%	-172%	180.56%
EPS (Basic)	-0.20	-0.13	-0.32	1.07	2.86	6.43	9.38	1.01	-0.72	0.59
Diluted Shares Outstanding	141.94M	127.12M	126.95M	127.36M	119.29M	116.02M	111.55M	103.02M	97.56M	95.45M
Basic Shares Outstanding	141.94M	126.46M	126.32M	124.53M	117.01M	114.03M	111.55M	102.21M	97.56M	94.59M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	1.51B	1.46B	1.84B	1.68B	1.69B	2.48B	2.45B	2.03B	2.45B	2.17B
Cash & Short-Term Investments	612.69M	545.46M	926.04M	711.03M	714.94M	1.4B	972.59M	808.76M	1.03B	1.02B
Cash Only	425.88M	545.46M	926.04M	711.03M	714.94M	1.4B	972.59M	808.76M	1.03B	1.02B
Short-Term Investments	186.81M	0	0	0	0	0	0	0	0	0
Accounts Receivable	363.74M	423.19M	390.75M	400.11M	382.19M	484.75M	601M	331.05M	427.39M	397.74M
Days Sales Outstanding	50.85	50.94	47.96	47.26	43.07	44.07	47.22	33.85	41.38	39.04
Inventory	427.55M	430.45M	472.29M	511.79M	517.2M	507.79M	755.75M	796.6M	710.55M	640.99M
Days Inventory Outstanding	99.96	82.82	94.38	98.57	98.46	86.94	116.91	127.95	113.7	107.16
Other Current Assets	41.38M	127.74M	99.52M	36.14M	38.3M	51.81M	70.69M	46.7M	238.27M	74.56M
Total Non-Current Assets+	5.09B	5.06B	4.54B	4.12B	4.87B	4.74B	5.06B	4.66B	4.11B	3.77B
Property, Plant & Equipment	1.05B	1.39B	1.37B	1.37B	1.26B	1.27B	1.25B	1.15B	870.98M	801.89M
Fixed Asset Turnover	2.49x	2.18x	2.16x	2.26x	2.57x	3.17x	3.71x	3.10x	4.33x	4.64x
Goodwill	2.14B	2.17B	2.17B	2.17B	2.61B	2.64B	2.78B	2.76B	2.53B	2.39B
Intangible Assets	1.81B	1.4B	860.34M	408.21M	808.89M	611.15M	674.79M	537.7M	509.38M	273.48M
Long-Term Investments	26.05M	35.49M	63.77M	97.79M	22.52M	35.37M	31.09M	20.41M	23.25M	23.43M
Other Non-Current Assets	66.46M	58.81M	65.61M	76.78M	165.3M	182.4M	324.11M	193.38M	170.38M	277.31M
Total Assets+	6.6B	6.52B	6.38B	5.81B	6.56B	7.22B	7.51B	6.69B	6.55B	5.93B
Asset Turnover	0.40x	0.46x	0.47x	0.53x	0.49x	0.56x	0.62x	0.53x	0.58x	0.63x
Asset Growth %	-4.29%	-1.13%	-2.16%	-8.99%	12.96%	10.07%	3.98%	-10.88%	-2.05%	-9.48%
Total Current Liabilities+	373.8M	418.83M	441.28M	435.61M	539M	681.58M	675.13M	555.76M	1.23B	783.18M
Accounts Payable	205.36M	216.25M	213.19M	233.31M	246.95M	313.87M	327.92M	210.7M	252.99M	260.66M
Days Payables Outstanding	48.01	41.61	42.6	44.93	47.01	53.74	50.73	33.84	40.48	43.58
Short-Term Debt	0	0	0	80K	6.89M	5.09M	791K	310K	438.74M	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	30.55M	32M	60.9M	41.71M	67.36M	107.56M	106.23M	122.29M	201.59M	234.54M
Current Ratio	4.04x	3.49x	4.18x	3.87x	3.14x	3.64x	3.63x	3.65x	1.99x	2.77x
Quick Ratio	2.89x	2.46x	3.11x	2.69x	2.18x	2.90x	2.51x	2.22x	1.41x	1.95x
Cash Conversion Cycle	102.8	92.15	99.74	100.89	94.51	77.27	113.4	127.96	114.6	102.62
Total Non-Current Liabilities+	1.22B	1.21B	1.16B	1.01B	1.73B	1.91B	2.28B	2.23B	1.77B	1.76B
Long-Term Debt	988.13M	989.15M	983.29M	920.93M	1.57B	1.74B	2.05B	2.05B	1.55B	1.55B
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	152.16M	131.51M	63.08M	333K	0	0	0	0	0	0
Other Non-Current Liabilities	83.06M	86.11M	118.3M	91.46M	161.78M	167.91M	233.63M	185.27M	218.9M	208.42M
Total Liabilities	1.6B	1.63B	1.61B	1.45B	2.27B	2.59B	2.96B	2.79B	3B	2.54B
Total Debt+	988.13M	989.15M	983.29M	921.01M	1.57B	1.75B	2.05B	2.05B	1.99B	1.55B
Net Debt	562.25M	443.69M	57.25M	209.98M	859.18M	349.76M	1.07B	1.24B	958.75M	528.04M
Debt / Equity	0.20x	0.20x	0.21x	0.21x	0.37x	0.38x	0.45x	0.52x	0.56x	0.46x
Debt / EBITDA	1.44x	1.25x	12.82x	1.05x	1.76x	1.28x	1.29x	3.92x	4.82x	3.95x
Net Debt / EBITDA	0.82x	0.56x	0.75x	0.24x	0.96x	0.26x	0.68x	2.37x	2.32x	1.35x
Interest Coverage	0.51x	1.50x	-10.71x	4.92x	7.01x	12.06x	19.36x	2.68x	1.32x	1.22x
Total Equity+	5B	4.9B	4.78B	4.36B	4.29B	4.63B	4.55B	3.9B	3.56B	3.39B
Equity Growth %	-19.01%	-2.06%	-2.47%	-8.71%	-1.54%	7.85%	-1.65%	-14.28%	-8.88%	-4.61%
Book Value per Share	35.22	38.52	37.62	34.23	35.98	39.90	40.82	37.88	36.45	35.54
Total Shareholders' Equity	5B	4.9B	4.78B	4.36B	4.29B	4.63B	4.55B	3.9B	3.56B	3.39B
Common Stock	5.44B	5.36B	5.24B	4.69B	4.29B	4.24B	4.04B	3.82B	3.65B	3.43B
Retained Earnings	-439.81M	-456.37M	-458.77M	-321.15M	0	355.04M	512.14M	84.5M	-89.6M	-33.98M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.13M	-4.31M	-2.75M	-6.62M	2.29M	29.65M	5.23M	-3.17M	-5.1M	-5.01M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	687.93M	776.82M	852.52M	810.36M	945.65M	1.3B	1.05B	843.23M	833.19M	622.2M
Operating CF Margin %	26.35%	25.62%	28.67%	26.22%	29.19%	32.42%	22.59%	23.62%	22.1%	16.73%
Operating CF Growth %	125.09%	12.92%	9.74%	-4.94%	16.69%	37.67%	-19.4%	-19.63%	-1.19%	-25.32%
Net Income	-28.84M	-16.56M	-40.29M	133.13M	334.32M	733.61M	1.03B	103.15M	-70.32M	55.62M
Depreciation & Amortization	674.95M	704.58M	714.22M	663.1M	468.93M	456.1M	361.42M	338.85M	320.93M	296.84M
Stock-Based Compensation	139.52M	88.84M	68.16M	71.58M	75.98M	89.32M	83.51M	105.58M	120.83M	136.35M
Deferred Taxes	-12.19M	-28.03M	-32.25M	-70.17M	-11.1M	-18.14M	31.88M	-66.14M	19.41M	-84.74M
Other Non-Cash Items	-3.81M	7.09M	51.99M	108.81M	-14.73M	62.62M	62.89M	264.81M	299.94M	224.53M
Working Capital Changes	-81.69M	20.9M	90.69M	-96.08M	92.25M	-21.66M	-523.8M	96.98M	142.4M	-6.39M
Change in Receivables	36.68M	-36.87M	12.91M	-32.12M	21.03M	-91.28M	-107.9M	264.78M	-105.78M	26.81M
Change in Inventory	-84.12M	-6.44M	-41.89M	-39.59M	10.25M	9.39M	-236.2M	-81.45M	92.91M	18.19M
Change in Payables	-461K	-1.03M	38.95M	15.17M	15.43M	34.2M	33.95M	-115.5M	89.14M	7.18M
Cash from Investing+	-278.71M	-490.49M	-277.41M	-247.55M	-1.11B	-218.66M	-595.96M	-153.41M	-136.47M	36.55M
Capital Expenditures	-315.62M	-552.7M	-269.83M	-220.94M	-164.1M	-186.96M	-213.47M	-158.95M	-127.23M	-137.6M
CapEx % of Revenue	12.09%	18.23%	9.07%	7.15%	5.07%	4.66%	4.59%	4.45%	3.38%	3.7%
Acquisitions	853K	-118.13M	0	0	-946.04M	-47.07M	-389.14M	-95K	-62.97M	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	853K	-5.98M	-7.57M	-27.02M	2.46M	15.37M	6.65M	5.64M	53.73M	174.16M
Cash from Financing+	-282.85M	-165.65M	-196.85M	-776.66M	165.56M	-401.92M	-875.51M	-853.35M	-459.57M	-684.36M
Debt Issued (Net)	1B	0	-9.64M	-145.33M	659M	118.76M	301.57M	0	-58.31M	-439.12M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-1.3B	-209.36M	-219.91M	-638.07M	-515.13M	-515.08M	-1.15B	-861.75M	-400.05M	-356.34M
Other Financing	-34.72M	-15.44M	-24.71M	-34.55M	-28.51M	-48.19M	-63.1M	-24.11M	-38.13M	75.36M
Net Change in Cash	126.07M	119.58M	380.62M	-215.02M	4.23M	682.7M	-425.5M	-163.86M	240.31M	-28.08M
Free Cash Flow+	372.3M	224.12M	582.68M	589.43M	781.54M	1.11B	835.78M	684.28M	705.96M	484.6M
FCF Margin %	14.26%	7.39%	19.6%	19.07%	24.13%	27.77%	17.99%	19.17%	18.73%	13.03%
FCF Growth %	176.47%	-39.8%	159.99%	1.16%	32.59%	42.65%	-25.04%	-18.13%	3.17%	-31.36%
FCF per Share	2.62	1.76	4.59	4.63	6.55	9.61	7.49	6.64	7.24	5.08
FCF Conversion (FCF/Net Income)	-23.85x	-46.92x	-21.16x	6.09x	2.83x	1.77x	1.02x	8.17x	-11.85x	11.19x
Interest Paid	2.16M	71.17M	70.21M	56.04M	48.87M	81.23M	59.39M	66.11M	55.27M	76.34M
Taxes Paid	34.94M	52.66M	41.48M	69.45M	55.51M	53.24M	125.32M	105.79M	103.06M	87.26M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-0.52%	-0.33%	-0.83%	2.91%	7.73%	16.44%	22.51%	2.44%	-1.89%	1.6%
Return on Invested Capital (ROIC)	0.16%	1.21%	-9.4%	3.45%	6.53%	13.42%	17.34%	2.55%	1.42%	1.7%
Gross Margin	40.2%	37.44%	38.57%	38.67%	40.81%	46.91%	49.21%	36.34%	39.49%	41.29%
Net Margin	-1.1%	-0.55%	-1.35%	4.31%	10.32%	18.27%	22.24%	2.89%	-1.87%	1.5%
Debt / Equity	0.20x	0.20x	0.21x	0.21x	0.37x	0.38x	0.45x	0.52x	0.56x	0.46x
Interest Coverage	0.51x	1.50x	-10.71x	4.92x	7.01x	12.06x	19.36x	2.68x	1.32x	1.22x
FCF Conversion	-23.85x	-46.92x	-21.16x	6.09x	2.83x	1.77x	1.02x	8.17x	-11.85x	11.19x
Revenue Growth	52.59%	16.16%	-1.95%	3.93%	4.82%	23.96%	15.7%	-23.17%	5.61%	-1.34%

US Stock Screener

...

Qorvo, Inc. (QRVO) 10-Year Financial Performance & Capital Metrics

QRVO •

TechnologySemiconductorsAnalog, Mixed-Signal and RF Chips

Revenue $3.72B -1.3%
EBITDA $392M -4.9%
Net Income $56M +179.1%
EPS (Diluted) 0.58 +180.6%
Gross Margin 41.29% +4.6%
EBITDA Margin 10.55% -3.6%
Operating Margin 2.57% +5.6%
Net Margin 1.5% +180.2%
ROE 1.6% +184.9%
ROIC 1.7% +19.3%
Debt/Equity 0.46 -18.3%
Interest Coverage 1.22 -7.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 9/9
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 2.2% through buybacks

✗Weaknesses

✗Weak 3Y average ROE of 0.7%
✗Profits declining 30.1% over 5 years

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y8.07%

5Y2.8%

3Y-7.15%

TTM0.56%

Profit (Net Income) CAGR

10Y-11.85%

5Y-30.14%

3Y-62.24%

TTM512.47%

EPS CAGR

10Y-7.89%

5Y-27.01%

3Y-60.29%

TTM521.26%

ROCE

10Y Avg4.13%

5Y Avg7.8%

3Y Avg2.08%

Latest1.82%

Peer Comparison

Analog, Mixed-Signal and RF Chips

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
QRVOQorvo, Inc.	7.68B	82.90	142.93	-1.34%	9.11%	9.21%	6.31%	0.46
ALABAstera Labs, Inc. Common Stock	20.23B	118.83	97.40	115.13%	25.7%	16.07%	1.39%
ADIAnalog Devices, Inc.	173.7B	355.79	78.02	16.89%	23.02%	8.01%	2.46%	0.26
AVGOBroadcom Inc.	1.52T	319.55	66.99	23.87%	36.2%	28.45%	1.78%	0.80
TXNTexas Instruments Incorporated	192.5B	212.11	38.92	13.05%	28.28%	30.73%	1.35%	0.86
NXPINXP Semiconductors N.V.	57.13B	227.01	28.55	-2.74%	16.47%	19.34%	4.24%	1.17
QCOMQUALCOMM Incorporated	152.89B	142.36	28.42	13.66%	11.96%	23.25%	8.38%	0.77
CRUSCirrus Logic, Inc.	7.38B	141.12	23.52	5.99%	20.47%	18.74%	5.63%	0.07

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	2.61B	3.03B	2.97B	3.09B	3.24B	4.02B	4.65B	3.57B	3.77B	3.72B
Revenue Growth %	52.59%	16.16%	-1.95%	3.93%	4.82%	23.96%	15.7%	-23.17%	5.61%	-1.34%
Cost of Goods Sold+	1.56B	1.9B	1.83B	1.9B	1.92B	2.13B	2.36B	2.27B	2.28B	2.18B
COGS % of Revenue	59.8%	62.56%	61.43%	61.32%	59.19%	53.09%	50.79%	63.67%	60.51%	58.71%
Gross Profit+	1.05B	1.14B	1.15B	1.2B	1.32B	1.88B	2.29B	1.3B	1.49B	1.54B
Gross Margin %	40.2%	37.44%	38.57%	38.67%	40.81%	46.91%	49.21%	36.34%	39.49%	41.29%
Gross Profit Growth %	52.26%	8.19%	1.01%	4.2%	10.59%	42.5%	21.37%	-43.27%	14.77%	3.16%
Operating Expenses+	1.04B	1.05B	1.08B	978.72M	898.55M	976.94M	1.06B	1.11B	1.4B	1.44B
OpEx % of Revenue	39.74%	34.54%	36.21%	31.67%	27.74%	24.33%	22.82%	31.2%	37.06%	38.72%
Selling, General & Admin	534.1M	545.59M	527.75M	476.07M	343.57M	367.24M	349.72M	358.79M	389.14M	403.62M
SG&A % of Revenue	20.46%	17.99%	17.75%	15.41%	10.61%	9.15%	7.53%	10.05%	10.32%	10.85%
Research & Development	448.76M	470.84M	445.1M	450.48M	484.41M	570.39M	623.64M	649.84M	682.25M	747.71M
R&D % of Revenue	17.19%	15.53%	14.97%	14.58%	14.95%	14.21%	13.42%	18.21%	18.1%	20.11%
Other Operating Expenses	6.42M	-1.88M	103.83M	52.16M	70.56M	39.31M	86.75M	105.14M	325.4M	288.73M
Operating Income+	11.97M	88.06M	-637.52M	216.47M	423.22M	906.63M	1.23B	183.17M	91.7M	95.53M
Operating Margin %	0.46%	2.9%	-21.44%	7%	13.07%	22.58%	26.39%	5.13%	2.43%	2.57%
Operating Income Growth %	-90.23%	635.79%	-823.97%	133.95%	95.51%	114.22%	35.23%	-85.06%	-49.94%	4.17%
EBITDA+	686.92M	792.64M	76.69M	879.56M	892.15M	1.36B	1.59B	522.02M	412.63M	392.36M
EBITDA Margin %	26.31%	26.14%	2.58%	28.46%	27.54%	33.94%	34.17%	14.62%	10.95%	10.55%
EBITDA Growth %	102.36%	15.39%	-90.32%	1046.86%	1.43%	52.75%	16.49%	-67.12%	-20.95%	-4.91%
D&A (Non-Cash Add-back)	674.95M	704.58M	714.22M	663.1M	468.93M	456.1M	361.42M	338.85M	320.93M	296.84M
EBIT	20.45M	86.18M	76.69M	135.75M	455.48M	882.58M	1.24B	193.09M	142.81M	144.23M
Net Interest Income+	-21.25M	-57.67M	-52.53M	-32.99M	-48.33M	-75.2M	-63.33M	-68.46M	-69.25M	-78.33M
Interest Income	2.07M	1.21M	7.02M	10.97M	12.07M	0	0	0	0	0
Interest Expense	23.32M	58.88M	59.55M	43.96M	60.39M	75.2M	63.33M	68.46M	69.25M	78.33M
Other Income/Expense	-14.83M	-60.75M	-53.14M	-124.67M	-28.13M	-99.25M	-44.98M	-58.54M	-18.14M	-29.63M
Pretax Income+	-2.86M	27.3M	17.14M	91.79M	395.09M	807.38M	1.18B	124.63M	73.56M	65.9M
Pretax Margin %	-0.11%	0.9%	0.58%	2.97%	12.2%	20.11%	25.42%	3.49%	1.95%	1.77%
Income Tax+	25.98M	43.86M	57.43M	-41.33M	60.76M	73.77M	147.73M	21.48M	143.88M	10.28M
Effective Tax Rate %	1007.86%	-60.64%	-234.98%	145.03%	84.62%	90.86%	87.49%	82.77%	-95.6%	84.39%
Net Income+	-28.84M	-16.56M	-40.29M	133.13M	334.32M	733.61M	1.03B	103.15M	-70.32M	55.62M
Net Margin %	-1.1%	-0.55%	-1.35%	4.31%	10.32%	18.27%	22.24%	2.89%	-1.87%	1.5%
Net Income Growth %	-114.69%	42.6%	-143.31%	430.43%	151.14%	119.43%	40.86%	-90.02%	-168.17%	179.09%
Net Income (Continuing)	-28.84M	-16.56M	-40.29M	133.13M	334.32M	733.61M	1.03B	103.15M	-70.32M	55.62M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.20	-0.13	-0.32	1.05	2.80	6.32	9.26	1.00	-0.72	0.58
EPS Growth %	-115.15%	35%	-146.15%	428.13%	166.67%	125.71%	46.52%	-89.2%	-172%	180.56%
EPS (Basic)	-0.20	-0.13	-0.32	1.07	2.86	6.43	9.38	1.01	-0.72	0.59
Diluted Shares Outstanding	141.94M	127.12M	126.95M	127.36M	119.29M	116.02M	111.55M	103.02M	97.56M	95.45M
Basic Shares Outstanding	141.94M	126.46M	126.32M	124.53M	117.01M	114.03M	111.55M	102.21M	97.56M	94.59M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	1.51B	1.46B	1.84B	1.68B	1.69B	2.48B	2.45B	2.03B	2.45B	2.17B
Cash & Short-Term Investments	612.69M	545.46M	926.04M	711.03M	714.94M	1.4B	972.59M	808.76M	1.03B	1.02B
Cash Only	425.88M	545.46M	926.04M	711.03M	714.94M	1.4B	972.59M	808.76M	1.03B	1.02B
Short-Term Investments	186.81M	0	0	0	0	0	0	0	0	0
Accounts Receivable	363.74M	423.19M	390.75M	400.11M	382.19M	484.75M	601M	331.05M	427.39M	397.74M
Days Sales Outstanding	50.85	50.94	47.96	47.26	43.07	44.07	47.22	33.85	41.38	39.04
Inventory	427.55M	430.45M	472.29M	511.79M	517.2M	507.79M	755.75M	796.6M	710.55M	640.99M
Days Inventory Outstanding	99.96	82.82	94.38	98.57	98.46	86.94	116.91	127.95	113.7	107.16
Other Current Assets	41.38M	127.74M	99.52M	36.14M	38.3M	51.81M	70.69M	46.7M	238.27M	74.56M
Total Non-Current Assets+	5.09B	5.06B	4.54B	4.12B	4.87B	4.74B	5.06B	4.66B	4.11B	3.77B
Property, Plant & Equipment	1.05B	1.39B	1.37B	1.37B	1.26B	1.27B	1.25B	1.15B	870.98M	801.89M
Fixed Asset Turnover	2.49x	2.18x	2.16x	2.26x	2.57x	3.17x	3.71x	3.10x	4.33x	4.64x
Goodwill	2.14B	2.17B	2.17B	2.17B	2.61B	2.64B	2.78B	2.76B	2.53B	2.39B
Intangible Assets	1.81B	1.4B	860.34M	408.21M	808.89M	611.15M	674.79M	537.7M	509.38M	273.48M
Long-Term Investments	26.05M	35.49M	63.77M	97.79M	22.52M	35.37M	31.09M	20.41M	23.25M	23.43M
Other Non-Current Assets	66.46M	58.81M	65.61M	76.78M	165.3M	182.4M	324.11M	193.38M	170.38M	277.31M
Total Assets+	6.6B	6.52B	6.38B	5.81B	6.56B	7.22B	7.51B	6.69B	6.55B	5.93B
Asset Turnover	0.40x	0.46x	0.47x	0.53x	0.49x	0.56x	0.62x	0.53x	0.58x	0.63x
Asset Growth %	-4.29%	-1.13%	-2.16%	-8.99%	12.96%	10.07%	3.98%	-10.88%	-2.05%	-9.48%
Total Current Liabilities+	373.8M	418.83M	441.28M	435.61M	539M	681.58M	675.13M	555.76M	1.23B	783.18M
Accounts Payable	205.36M	216.25M	213.19M	233.31M	246.95M	313.87M	327.92M	210.7M	252.99M	260.66M
Days Payables Outstanding	48.01	41.61	42.6	44.93	47.01	53.74	50.73	33.84	40.48	43.58
Short-Term Debt	0	0	0	80K	6.89M	5.09M	791K	310K	438.74M	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	30.55M	32M	60.9M	41.71M	67.36M	107.56M	106.23M	122.29M	201.59M	234.54M
Current Ratio	4.04x	3.49x	4.18x	3.87x	3.14x	3.64x	3.63x	3.65x	1.99x	2.77x
Quick Ratio	2.89x	2.46x	3.11x	2.69x	2.18x	2.90x	2.51x	2.22x	1.41x	1.95x
Cash Conversion Cycle	102.8	92.15	99.74	100.89	94.51	77.27	113.4	127.96	114.6	102.62
Total Non-Current Liabilities+	1.22B	1.21B	1.16B	1.01B	1.73B	1.91B	2.28B	2.23B	1.77B	1.76B
Long-Term Debt	988.13M	989.15M	983.29M	920.93M	1.57B	1.74B	2.05B	2.05B	1.55B	1.55B
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	152.16M	131.51M	63.08M	333K	0	0	0	0	0	0
Other Non-Current Liabilities	83.06M	86.11M	118.3M	91.46M	161.78M	167.91M	233.63M	185.27M	218.9M	208.42M
Total Liabilities	1.6B	1.63B	1.61B	1.45B	2.27B	2.59B	2.96B	2.79B	3B	2.54B
Total Debt+	988.13M	989.15M	983.29M	921.01M	1.57B	1.75B	2.05B	2.05B	1.99B	1.55B
Net Debt	562.25M	443.69M	57.25M	209.98M	859.18M	349.76M	1.07B	1.24B	958.75M	528.04M
Debt / Equity	0.20x	0.20x	0.21x	0.21x	0.37x	0.38x	0.45x	0.52x	0.56x	0.46x
Debt / EBITDA	1.44x	1.25x	12.82x	1.05x	1.76x	1.28x	1.29x	3.92x	4.82x	3.95x
Net Debt / EBITDA	0.82x	0.56x	0.75x	0.24x	0.96x	0.26x	0.68x	2.37x	2.32x	1.35x
Interest Coverage	0.51x	1.50x	-10.71x	4.92x	7.01x	12.06x	19.36x	2.68x	1.32x	1.22x
Total Equity+	5B	4.9B	4.78B	4.36B	4.29B	4.63B	4.55B	3.9B	3.56B	3.39B
Equity Growth %	-19.01%	-2.06%	-2.47%	-8.71%	-1.54%	7.85%	-1.65%	-14.28%	-8.88%	-4.61%
Book Value per Share	35.22	38.52	37.62	34.23	35.98	39.90	40.82	37.88	36.45	35.54
Total Shareholders' Equity	5B	4.9B	4.78B	4.36B	4.29B	4.63B	4.55B	3.9B	3.56B	3.39B
Common Stock	5.44B	5.36B	5.24B	4.69B	4.29B	4.24B	4.04B	3.82B	3.65B	3.43B
Retained Earnings	-439.81M	-456.37M	-458.77M	-321.15M	0	355.04M	512.14M	84.5M	-89.6M	-33.98M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-3.13M	-4.31M	-2.75M	-6.62M	2.29M	29.65M	5.23M	-3.17M	-5.1M	-5.01M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	687.93M	776.82M	852.52M	810.36M	945.65M	1.3B	1.05B	843.23M	833.19M	622.2M
Operating CF Margin %	26.35%	25.62%	28.67%	26.22%	29.19%	32.42%	22.59%	23.62%	22.1%	16.73%
Operating CF Growth %	125.09%	12.92%	9.74%	-4.94%	16.69%	37.67%	-19.4%	-19.63%	-1.19%	-25.32%
Net Income	-28.84M	-16.56M	-40.29M	133.13M	334.32M	733.61M	1.03B	103.15M	-70.32M	55.62M
Depreciation & Amortization	674.95M	704.58M	714.22M	663.1M	468.93M	456.1M	361.42M	338.85M	320.93M	296.84M
Stock-Based Compensation	139.52M	88.84M	68.16M	71.58M	75.98M	89.32M	83.51M	105.58M	120.83M	136.35M
Deferred Taxes	-12.19M	-28.03M	-32.25M	-70.17M	-11.1M	-18.14M	31.88M	-66.14M	19.41M	-84.74M
Other Non-Cash Items	-3.81M	7.09M	51.99M	108.81M	-14.73M	62.62M	62.89M	264.81M	299.94M	224.53M
Working Capital Changes	-81.69M	20.9M	90.69M	-96.08M	92.25M	-21.66M	-523.8M	96.98M	142.4M	-6.39M
Change in Receivables	36.68M	-36.87M	12.91M	-32.12M	21.03M	-91.28M	-107.9M	264.78M	-105.78M	26.81M
Change in Inventory	-84.12M	-6.44M	-41.89M	-39.59M	10.25M	9.39M	-236.2M	-81.45M	92.91M	18.19M
Change in Payables	-461K	-1.03M	38.95M	15.17M	15.43M	34.2M	33.95M	-115.5M	89.14M	7.18M
Cash from Investing+	-278.71M	-490.49M	-277.41M	-247.55M	-1.11B	-218.66M	-595.96M	-153.41M	-136.47M	36.55M
Capital Expenditures	-315.62M	-552.7M	-269.83M	-220.94M	-164.1M	-186.96M	-213.47M	-158.95M	-127.23M	-137.6M
CapEx % of Revenue	12.09%	18.23%	9.07%	7.15%	5.07%	4.66%	4.59%	4.45%	3.38%	3.7%
Acquisitions	853K	-118.13M	0	0	-946.04M	-47.07M	-389.14M	-95K	-62.97M	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	853K	-5.98M	-7.57M	-27.02M	2.46M	15.37M	6.65M	5.64M	53.73M	174.16M
Cash from Financing+	-282.85M	-165.65M	-196.85M	-776.66M	165.56M	-401.92M	-875.51M	-853.35M	-459.57M	-684.36M
Debt Issued (Net)	1B	0	-9.64M	-145.33M	659M	118.76M	301.57M	0	-58.31M	-439.12M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-1.3B	-209.36M	-219.91M	-638.07M	-515.13M	-515.08M	-1.15B	-861.75M	-400.05M	-356.34M
Other Financing	-34.72M	-15.44M	-24.71M	-34.55M	-28.51M	-48.19M	-63.1M	-24.11M	-38.13M	75.36M
Net Change in Cash	126.07M	119.58M	380.62M	-215.02M	4.23M	682.7M	-425.5M	-163.86M	240.31M	-28.08M
Free Cash Flow+	372.3M	224.12M	582.68M	589.43M	781.54M	1.11B	835.78M	684.28M	705.96M	484.6M
FCF Margin %	14.26%	7.39%	19.6%	19.07%	24.13%	27.77%	17.99%	19.17%	18.73%	13.03%
FCF Growth %	176.47%	-39.8%	159.99%	1.16%	32.59%	42.65%	-25.04%	-18.13%	3.17%	-31.36%
FCF per Share	2.62	1.76	4.59	4.63	6.55	9.61	7.49	6.64	7.24	5.08
FCF Conversion (FCF/Net Income)	-23.85x	-46.92x	-21.16x	6.09x	2.83x	1.77x	1.02x	8.17x	-11.85x	11.19x
Interest Paid	2.16M	71.17M	70.21M	56.04M	48.87M	81.23M	59.39M	66.11M	55.27M	76.34M
Taxes Paid	34.94M	52.66M	41.48M	69.45M	55.51M	53.24M	125.32M	105.79M	103.06M	87.26M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-0.52%	-0.33%	-0.83%	2.91%	7.73%	16.44%	22.51%	2.44%	-1.89%	1.6%
Return on Invested Capital (ROIC)	0.16%	1.21%	-9.4%	3.45%	6.53%	13.42%	17.34%	2.55%	1.42%	1.7%
Gross Margin	40.2%	37.44%	38.57%	38.67%	40.81%	46.91%	49.21%	36.34%	39.49%	41.29%
Net Margin	-1.1%	-0.55%	-1.35%	4.31%	10.32%	18.27%	22.24%	2.89%	-1.87%	1.5%
Debt / Equity	0.20x	0.20x	0.21x	0.21x	0.37x	0.38x	0.45x	0.52x	0.56x	0.46x
Interest Coverage	0.51x	1.50x	-10.71x	4.92x	7.01x	12.06x	19.36x	2.68x	1.32x	1.22x
FCF Conversion	-23.85x	-46.92x	-21.16x	6.09x	2.83x	1.77x	1.02x	8.17x	-11.85x	11.19x
Revenue Growth	52.59%	16.16%	-1.95%	3.93%	4.82%	23.96%	15.7%	-23.17%	5.61%	-1.34%

Qorvo, Inc. (QRVO) 10-Year Financial Performance & Capital Metrics

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Qorvo, Inc. (QRVO) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare QRVO vs Peers

vs AVGO

vs TXN

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

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Revenue History

Financial Ratios