Broadcom Inc.

AVGO · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006
Valuation
Market cap	$1,745,528	$788,954	$346,021	$191,528	$219,513	$144,353	$122,454	$91,150	$108,962	$70,304	$50,837	$21,661	$11,441	$8,085	$8,281	$5,664	$3,285	–	–	–
Enterprise value	$1,794,486	$847,172	$371,480	$219,090	$247,623	$178,424	$150,197	$104,351	$118,207	$83,833	$52,887	$25,542	$10,444	$7,004	$7,458	$5,339	$3,412	–	–	–
P/E (TTM) at period end	75.48×	133.83×	24.57×	17.07×	34.10×	54.21×	45.44×	7.44×	64.40×	–	37.27×	82.36×	20.73×	14.36×	15.00×	13.65×	–	–	–	–
P/S (TTM) at period end	27.32×	15.30×	9.66×	5.77×	8.00×	6.04×	5.42×	4.37×	6.18×	5.31×	7.45×	5.07×	4.54×	3.42×	3.54×	2.71×	2.21×	–	–	–
P/B at period end	21.47×	11.66×	14.42×	8.43×	8.78×	6.04×	4.91×	3.42×	5.37×	3.72×	10.78×	6.68×	3.96×	3.34×	4.13×	3.76×	3.16×	–	–	–
EV / EBITDA (TTM)	68.87×	60.27×	22.23×	14.85×	27.34×	38.92×	37.43×	18.47×	41.89×	–	20.39×	24.03×	14.13×	9.50×	10.06×	8.49×	16.40×	–	–	–
EV / Sales (TTM)	28.09×	16.43×	10.37×	6.60×	9.02×	7.47×	6.65×	5.01×	6.70×	6.33×	7.75×	5.98×	4.14×	2.96×	3.19×	2.55×	2.30×	–	–	–
Returns
Return on equity	28.4%	8.7%	58.7%	49.4%	25.8%	11.1%	10.8%	46.0%	8.3%	(9.9%)	28.9%	8.1%	19.1%	23.3%	27.5%	27.6%	(4.2%)	10.6%	(22.9%)	(29.8%)
Return on invested capital	19.6%	6.7%	30.6%	26.2%	16.0%	6.9%	6.5%	12.9%	7.9%	(1.3%)	22.9%	5.5%	28.2%	41.9%	48.6%	39.8%	4.1%	11.9%	(8.1%)	(5.7%)
Dividend yield	0.6%	1.2%	2.2%	3.7%	2.8%	3.8%	3.5%	3.3%	1.5%	1.0%	0.8%	1.3%	1.7%	1.7%	1.0%	–	–	–	–	–
Financial health
Current ratio	1.71×	1.17×	2.82×	2.62×	2.64×	1.87×	1.44×	3.90×	6.26×	2.31×	3.37×	3.76×	4.30×	4.89×	3.98×	1.92×	1.36×	1.89×	2.23×	1.95×
Debt / equity	0.80×	1.00×	1.64×	1.74×	1.66×	1.72×	1.32×	0.66×	0.87×	0.72×	0.82×	1.70×	–	0.00×	–	0.15×	0.57×	0.90×	1.30×	1.19×
Effective tax rate	(1.7%)	37.8%	6.7%	7.6%	0.4%	(21.2%)	(22.9%)	(177.9%)	1.9%	(58.0%)	5.2%	9.6%	2.8%	3.8%	1.6%	(2.2%)	(22.2%)	5.0%	(3.8%)	(2.0%)
Share count
Diluted shares outstanding	4,853	4,778	4,272	4,232	4,290	4,210	4,190	4,310	4,210	3,830	2,810	2,670	2,520	2,500	2,520	2,460	2,190	2,190	2,140	2,463

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006
Revenue and gross profit
Revenue	$89,104	$63,887	$51,574	$35,819	$33,203	$27,450	$23,888	$22,597	$20,848	$17,636	$13,240	$6,824	$4,269	$2,520	$2,364	$2,336	$2,093	$1,484	$1,699	$1,527	$1,513
Cost of revenue	($27,827)	($20,593)	($19,065)	($11,129)	($11,108)	($10,606)	($10,372)	($10,114)	($10,115)	($9,127)	($7,300)	($3,271)	($2,392)	($1,322)	($1,222)	($1,189)	($1,127)	($924)	($1,044)	($1,165)	($1,124)
Gross profit	$61,277	$43,294	$32,509	$24,690	$22,095	$16,844	$13,516	$12,483	$10,733	$8,509	$5,940	$3,553	$1,877	$1,198	$1,142	$1,147	$966	$560	$655	$362	$389
Operating expenses
Research and development	($11,836)	($10,977)	($9,310)	($5,253)	($4,919)	($4,854)	($4,968)	($4,696)	($3,768)	($3,302)	($2,674)	($1,049)	($695)	($398)	($335)	($317)	($280)	($245)	($265)	($205)	($209)
Selling, general and administrative	($4,177)	($4,211)	($4,959)	($1,592)	($1,382)	($1,347)	($1,935)	($1,709)	($1,056)	($789)	($806)	($486)	($407)	($222)	($199)	($220)	($196)	($169)	($196)	($193)	($270)
Total operating expenses	($18,463)	($17,810)	($19,046)	($8,483)	($7,870)	($8,325)	($9,502)	($9,039)	($5,598)	($6,138)	($6,349)	($1,921)	($1,439)	($646)	($560)	($563)	($496)	($512)	($495)	($467)	($479)
Total costs and expenses	($46,290)	($38,403)	($38,111)	($19,612)	($18,978)	($18,931)	($19,874)	($19,153)	($15,713)	($15,265)	($13,649)	($5,192)	($3,831)	($1,968)	($1,782)	($1,752)	($1,623)	($1,436)	($1,539)	($1,632)	($1,603)
Operating income	$42,814	$25,484	$13,463	$16,207	$14,225	$8,519	$4,014	$3,444	$5,135	$2,371	($409)	$1,632	$438	$552	$582	$584	$470	$48	$160	($105)	($90)
Earnings
EBITDA	$43,446	$26,058	$14,056	$16,709	$14,754	$9,058	$4,584	$4,013	$5,650	$2,822	($7)	$2,594	$1,063	$739	$737	$741	$629	$208	$319	$71	$120
Interest income	–	$347	$461	$535	$100	$16	$53	$98	$114	$44	$10	$8	$6	$4	$4	$1	–	–	–	–	–
Interest expense	($3,116)	($3,210)	($3,953)	($1,622)	($1,737)	($1,885)	($1,777)	($1,444)	($628)	($454)	($585)	($191)	($110)	($2)	($1)	($4)	($34)	($77)	($86)	($109)	($143)
Pre-tax income	$40,469	$22,729	$9,916	$15,097	$12,434	$6,765	$2,443	$2,226	$4,545	$1,825	($1,107)	$1,467	$342	$568	$585	$561	$406	($36)	$60	($212)	($248)
Income tax expense	($2,204)	$397	($3,748)	($1,015)	($939)	($29)	$518	$510	$8,084	($35)	($642)	($76)	($33)	($16)	($22)	($9)	$9	($8)	($3)	($8)	($5)
Net income	$38,265	$23,126	$5,895	$14,082	$11,495	$6,736	$2,960	$2,724	$12,259	$1,692	($1,739)	$1,364	$263	$552	$563	$552	$415	($44)	$83	($159)	($251)
Per share
Diluted EPS (GAAP)	$7.83	$4.77	$1.23	$3.30	$2.65	$1.50	$0.633	$0.643	$2.84	$0.402	($0.486)	$0.49	$0.099	$0.22	$0.23	$0.22	$0.17	($0.0201)	$0.038	($0.074)	($0.10)
Basic EPS (GAAP)	$8.06	$4.91	$1.27	$3.39	$2.74	$1.57	$0.662	$0.677	$2.93	$0.418	($0.475)	$0.52	$0.11	$0.22	$0.23	$0.23	$0.17	($0.0201)	$0.039	($0.074)	($0.10)
Basic shares outstanding	4,746	4,712	4,624	4,149	4,089	4,100	4,020	3,980	4,180	4,050	3,660	2,640	2,510	2,520	2,450	2,450	2,380	2,190	2,140	2,140	2,463
Margins
Gross margin	68.8%	67.8%	63.0%	68.9%	66.5%	61.4%	56.6%	55.2%	51.5%	48.2%	44.9%	52.1%	44.0%	47.5%	48.3%	49.1%	46.2%	37.7%	38.6%	23.7%	25.7%
Operating margin	48.0%	39.9%	26.1%	45.2%	42.8%	31.0%	16.8%	15.2%	24.6%	13.4%	(3.1%)	23.9%	10.3%	21.9%	24.6%	25.0%	22.5%	3.2%	9.4%	(6.9%)	(5.9%)
Net margin	42.9%	36.2%	11.4%	39.3%	34.6%	24.5%	12.4%	12.1%	58.8%	9.6%	(13.1%)	20.0%	6.2%	21.9%	23.8%	23.6%	19.8%	(3.0%)	4.9%	(10.4%)	(16.6%)

Analyst consensus

Buy60 analysts

Bearish · 0 · Hold · 6 · Bullish · 54

Earnings history

	EPS	Estimate
Q4 2024	$1.42	$1.38	Beat
Q1 2025	$1.60	$1.51	Beat
Q2 2025	$1.58	$1.57	Beat
Q3 2025	$1.69	$1.66	Beat
Q4 2025	$1.95	$1.87	Beat
Q1 2026	$2.05	$2.03	Beat
Q2 2026	$2.44	$2.40	Beat
Q3 2026	$3.32	$3.22	Beat

Peers

Company overview

IPO dateAug 6, 2009

CEOHock E. Tan

Employees33,000

SectorTechnology

IndustrySemiconductors

CountryUS

ExchangeNASDAQ Global Select

Websitewww.broadcom.com

Broadcom Inc. is a prominent global technology enterprise focused on the innovation, development, and supply of advanced semiconductor solutions and critical infrastructure software. The company's headquarters are situated in San Jose, California, and it maintains a significant team of 19,000 full-time staff. Its operations are segmented into four primary divisions: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other. Broadcom’s diverse product range is integrated into numerous end-user technologies, including enterprise and data center networking, residential internet solutions, digital television receivers, telecommunications apparatus, mobile phones, data center servers and storage architectures, industrial automation, alternative and power generation systems, and electronic display technologies. The company's product offerings extend from fundamental discrete components to intricate sub-systems incorporating various device categories. This also encompasses specialized firmware designed to facilitate interaction between analog and digital systems, alongside mechanical hardware engineered to connect with optoelectronic or capacitive sensing technologies.

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