The company has improved its financial flexibility by reducing the debt-to-equity ratio from 0.56 in 2024Q4 to 0.46 in 2026Q4, while simultaneously strengthening the current ratio to 3.24.
| Metric | Mar'26 | Mar'25 | Mar'24 | Apr'23 | Apr'22 | Apr'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 |
|---|
| Total Current Assets | 2.31B | 2.17B | 2.45B | 2.03B | 2.45B | 2.48B | 1.69B | 1.68B | 1.84B | 1.46B | 1.51B | 1.5B | 537.42M | 516.24M |
| Cash & Short-Term Investments | 1.22B | 1.02B | 1.03B | 808.76M | 972.59M | 1.4B | 714.94M | 711.03M | 926.04M | 545.46M | 612.69M | 544.64M | 243.97M | 179.65M |
| Cash Only | 1.22B | 1.02B | 1.03B | 808.76M | 972.59M | 1.4B | 714.94M | 711.03M | 926.04M | 545.46M | 425.88M | 299.81M | 171.9M | 101.66M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 186.81M | 244.83M | 72.07M | 77.99M |
| Accounts Receivable | 398.68M | 397.74M | 427.39M | 331.05M | 601M | 484.75M | 382.19M | 400.11M | 390.75M | 423.19M | 363.74M | 379.65M | 150.6M | 159.88M |
| Days Sales Outstanding | 39.56 | 39.04 | 41.38 | 33.85 | 47.22 | 44.07 | 43.07 | 47.26 | 47.96 | 50.94 | 50.85 | 80.99 | 47.87 | 60.53 |
| Inventory | 553.72M | 640.99M | 710.55M | 796.6M | 755.75M | 507.79M | 517.2M | 511.79M | 472.29M | 430.45M | 427.55M | 346.9M | 125.7M | 161.19M |
| Days Inventory Outstanding | 101.54 | 107.16 | 113.7 | 127.95 | 116.91 | 86.94 | 98.46 | 98.57 | 94.38 | 82.82 | 99.96 | 123.93 | 61.73 | 89.37 |
| Other Current Assets | 134.9M | 74.56M | 238.27M | 46.7M | 70.69M | 51.81M | 38.3M | 36.14M | 99.52M | 127.74M | 41.38M | 176.75M | 4.43M | 2.48M |
| Total Non-Current Assets | 3.52B | 3.77B | 4.11B | 4.66B | 5.06B | 4.74B | 4.87B | 4.12B | 4.54B | 5.06B | 5.09B | 5.39B | 382.89M | 415.76M |
| Property, Plant & Equipment | 710.39M | 801.89M | 870.98M | 1.15B | 1.25B | 1.27B | 1.26B | 1.37B | 1.37B | 1.39B | 1.05B | 883.37M | 196M | 191.53M |
| Fixed Asset Turnover | 5.18x | 4.64x | 4.33x | 3.10x | 3.71x | 3.17x | 2.57x | 2.26x | 2.16x | 2.18x | 2.49x | 1.94x | 5.86x | 5.03x |
| Goodwill | 2.35B | 2.39B | 2.53B | 2.76B | 2.78B | 2.64B | 2.61B | 2.17B | 2.17B | 2.17B | 2.14B | 2.14B | 103.9M | 104.85M |
| Intangible Assets | 121.51M | 273.48M | 509.38M | 537.7M | 674.79M | 611.15M | 808.89M | 408.21M | 860.34M | 1.4B | 1.81B | 2.31B | 54.99M | 93.2M |
| Long-Term Investments | 16.3M | 23.43M | 23.25M | 20.41M | 31.09M | 35.37M | 22.52M | 97.79M | 63.77M | 35.49M | 26.05M | 4.08M | 3.84M | 4.28M |
| Other Non-Current Assets | 317.86M | 277.31M | 170.38M | 193.38M | 324.11M | 182.4M | 165.3M | 76.78M | 65.61M | 58.81M | 66.46M | 57.01M | 24.17M | 21.91M |
| Total Assets | 5.83B | 5.93B | 6.55B | 6.69B | 7.51B | 7.22B | 6.56B | 5.81B | 6.38B | 6.52B | 6.6B | 6.89B | 920.31M | 932M |
| Asset Turnover | 0.63x | 0.63x | 0.58x | 0.53x | 0.62x | 0.56x | 0.49x | 0.53x | 0.47x | 0.46x | 0.40x | 0.25x | 1.25x | 1.03x |
| Asset Growth % | -1.81% | -9.48% | -2.05% | -10.88% | 3.98% | 10.07% | 12.96% | -8.99% | -2.16% | -1.13% | -4.29% | 648.92% | -1.25% | - |
| Total Current Liabilities | 712.76M | 783.18M | 1.23B | 555.76M | 675.13M | 681.58M | 539M | 435.61M | 441.28M | 418.83M | 373.8M | 325.31M | 219.97M | 185.71M |
| Accounts Payable | 242.87M | 260.66M | 252.99M | 210.7M | 327.92M | 313.87M | 246.95M | 233.31M | 213.19M | 216.25M | 205.36M | 182.47M | 79.78M | 123.47M |
| Days Payables Outstanding | 44.54 | 43.58 | 40.48 | 33.84 | 50.73 | 53.74 | 47.01 | 44.93 | 42.6 | 41.61 | 48.01 | 65.19 | 39.18 | 68.45 |
| Short-Term Debt | 0 | 0 | 438.74M | 310K | 791K | 5.09M | 6.89M | 80K | 0 | 0 | 0 | 0 | 87.26M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 469.89M | 234.54M | 201.59M | 122.29M | 106.23M | 107.56M | 67.36M | 41.71M | 60.9M | 32M | 30.55M | 10.97M | 1.1M | 62.25M |
| Current Ratio | 3.24x | 2.77x | 1.99x | 3.65x | 3.63x | 3.64x | 3.14x | 3.87x | 4.18x | 3.49x | 4.04x | 4.61x | 2.44x | 2.78x |
| Quick Ratio | 2.46x | 1.95x | 1.41x | 2.22x | 2.51x | 2.90x | 2.18x | 2.69x | 3.11x | 2.46x | 2.89x | 3.54x | 1.87x | 1.91x |
| Cash Conversion Cycle | 96.56 | 102.62 | 114.6 | 127.96 | 113.4 | 77.27 | 94.51 | 100.89 | 99.74 | 92.15 | 102.8 | 139.74 | 70.42 | 81.44 |
| Total Non-Current Liabilities | 1.77B | 1.76B | 1.77B | 2.23B | 2.28B | 1.91B | 1.73B | 1.01B | 1.16B | 1.21B | 1.22B | 393.91M | 23.99M | 107.27M |
| Long-Term Debt | 1.55B | 1.55B | 1.55B | 2.05B | 2.05B | 1.74B | 1.57B | 920.93M | 983.29M | 989.15M | 988.13M | 0 | 0 | 82.03M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 333K | 63.08M | 131.51M | 152.16M | 310.19M | 884K | 0 |
| Other Non-Current Liabilities | 219.38M | 208.42M | 218.9M | 185.27M | 233.63M | 167.91M | 161.78M | 91.46M | 118.3M | 86.11M | 83.06M | 83.72M | 23.1M | 25.24M |
| Total Liabilities | 2.48B | 2.54B | 3B | 2.79B | 2.96B | 2.59B | 2.27B | 1.45B | 1.61B | 1.63B | 1.6B | 719.22M | 243.96M | 292.99M |
| Total Debt | 1.55B | 1.55B | 1.99B | 2.05B | 2.05B | 1.75B | 1.57B | 921.01M | 983.29M | 989.15M | 988.13M | 0 | 87.26M | 82.03M |
| Net Debt | 330.14M | 528.04M | 958.75M | 1.24B | 1.07B | 349.76M | 859.18M | 209.98M | 57.25M | 443.69M | 562.25M | -299.81M | -84.64M | -19.63M |
| Debt / Equity | 0.46x | 0.46x | 0.56x | 0.52x | 0.45x | 0.38x | 0.37x | 0.21x | 0.21x | 0.20x | 0.20x | - | 0.13x | 0.13x |
| Debt / EBITDA | 3.77x | 3.95x | 4.82x | 3.92x | 1.29x | 1.28x | 1.76x | 1.05x | 12.82x | 1.25x | 1.44x | - | 0.86x | 1.44x |
| Net Debt / EBITDA | 0.80x | 1.35x | 2.32x | 2.37x | 0.68x | 0.26x | 0.96x | 0.24x | 0.75x | 0.56x | 0.82x | -0.88x | -0.83x | -0.35x |
| Interest Coverage | 5.63x | 1.84x | 2.06x | 2.82x | 19.65x | 11.74x | 7.54x | 3.09x | 1.29x | 1.46x | 0.88x | 86.32x | 4.99x | -2.96x |
| Total Equity | 3.34B | 3.39B | 3.56B | 3.9B | 4.55B | 4.63B | 4.29B | 4.36B | 4.78B | 4.9B | 5B | 6.17B | 676.35M | 639.01M |
| Equity Growth % | -1.42% | -4.61% | -8.88% | -14.28% | -1.65% | 7.85% | -1.54% | -8.71% | -2.47% | -2.06% | -19.01% | 812.72% | 5.84% | - |
| Book Value per Share | 35.75 | 35.54 | 36.45 | 37.88 | 40.82 | 39.90 | 35.98 | 34.23 | 37.62 | 38.52 | 35.22 | 41.41 | 4.56 | 9.02 |
| Total Shareholders' Equity | 3.34B | 3.39B | 3.56B | 3.9B | 4.55B | 4.63B | 4.29B | 4.36B | 4.78B | 4.9B | 5B | 6.17B | 676.35M | 639.01M |
| Common Stock | 3.3B | 3.43B | 3.65B | 3.82B | 4.04B | 4.24B | 4.29B | 4.69B | 5.24B | 5.36B | 5.44B | 6.58B | 1.28B | 1.26B |
| Retained Earnings | 38.79M | -33.98M | -89.6M | 84.5M | 512.14M | 355.04M | 0 | -321.15M | -458.77M | -456.37M | -439.81M | -410.96M | -607.27M | -619.91M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 4.06M | -5.01M | -5.1M | -3.17M | 5.23M | 29.65M | 2.29M | -6.62M | -2.75M | -4.31M | -3.13M | -124K | -785K | -498K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
High Customer Concentration Exposure
As reported in recent financial filings, Qorvo's total assets have contracted from $6.7 billion in 2024Q3 to $5.8 billion by 2026Q4, reflecting a strategic reduction in the asset base that aligns with the company's efforts to navigate a more challenging and cyclical semiconductor demand environment.
The reduction in total assets appears to be a deliberate effort to streamline operations, though it also signals a potential cooling of growth expectations. Investors should monitor whether this contraction reflects a permanent shift toward a leaner operating model or simply a response to lower capacity utilization requirements.
Based on the company's reported figures, Qorvo successfully reduced its total debt from $2.0 billion in 2024Q4 to $1.5 billion by 2026Q4, effectively lowering its debt-to-equity ratio from 0.56 to 0.46 over the same period, which suggests a prudent approach to managing interest-bearing liabilities.
This deleveraging trend provides the company with greater financial flexibility to weather potential downturns in the mobile handset market. The reduction in debt appears to be a strategic priority, likely aimed at preserving the balance sheet's health while the company navigates the high fixed-cost burdens of its internal fabrication facilities.
According to recent SEC filings, Qorvo's current ratio has improved from 1.90 in 2024Q3 to 3.24 in 2026Q4, indicating a significant strengthening of the company's short-term liquidity position and its ability to cover immediate obligations despite the inherent volatility of its primary revenue segments.
The expansion of the current ratio suggests that the company has successfully managed its working capital, providing a substantial buffer against operational shocks. This liquidity profile appears adequate to support ongoing R&D investments and potential strategic acquisitions, even if revenue growth remains under pressure from cyclical smartphone demand.
As disclosed in financial statements, Qorvo maintains a significant goodwill balance of $2.4 billion as of 2026Q4, which represents approximately 41% of total assets, highlighting a substantial reliance on the carrying value of past acquisitions to support the company's overall balance sheet valuation.
The high proportion of goodwill relative to total assets suggests that the company's book value is sensitive to potential impairment charges if the acquired businesses fail to meet long-term performance expectations. Investors should monitor whether these intangible assets continue to provide the anticipated strategic value or if they represent a risk to future equity stability.
Quick answers to the most common questions about buying QRVO stock.
As of 2026, Qorvo, Inc. (QRVO) had total assets of $5.83B including $2.31B in current assets.
Qorvo, Inc. (QRVO) carries total debt of $1.55B, offset by $1.22B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Qorvo, Inc. (QRVO) has total shareholders' equity (book value) of $3.34B ($35.75 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Qorvo, Inc. (QRVO) reported a current ratio of 3.24x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.