AVGO (Broadcom Inc.) Stock Financials & Earnings

Company Info & Key Metrics

Broadcom, 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 curren...

CEOHock E. Tan

Country🇺🇸 United States

ExchangeNASDAQ

IPOAug 6, 2009

www.broadcom.com

Revenue$19.3B

YoY Growth+29.5%

QoQ Growth+7.2%

Net Income$7.3B

EPS$1.50

Free Cash Flow$8.0B

Gross Margin65.6%

Op. Margin45.0%

Net Margin38.1%

FCF Margin41.5%

Rev Multiple (TTM)24.3x

P/E Ratio (TTM)66.4x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q2 23	$8.7B	$6.1B	$4.0B
Q3 23	$8.9B	$6.2B	$3.9B
Q4 23	$9.3B	$6.4B	$4.2B
Q1 24	$12.0B	$7.4B	$2.1B
Q2 24	$12.5B	$7.8B	$3.0B
Q3 24	$13.1B	$8.4B	$3.8B
Q4 24	$14.1B	$9.0B	$4.6B
Q1 25	$14.9B	$10.1B	$6.3B
Q2 25	$15.0B	$10.2B	$5.8B
Q3 25	$16.0B	$10.7B	$5.9B
Q4 25	$18.0B	$12.2B	$7.5B
Q1 26	$19.3B	$12.7B	$8.7B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q2 23	7.5x	19.3x
Q3 23	10.5x	26.7x
Q4 23	10.6x	27.0x
Q1 24	14.9x	49.7x
Q2 24	14.3x	59.5x
Q3 24	14.2x	130.5x
Q4 24	15.3x	134.2x
Q1 25	18.8x	101.7x
Q2 25	16.6x	73.3x
Q3 25	23.5x	74.4x
Q4 25	26.9x	74.2x
Q1 26	22.9x	62.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 23	$4.5B	$4.4B
Q3 23	$4.7B	$4.6B
Q4 23	$4.8B	$4.7B
Q1 24	$4.8B	$4.7B
Q2 24	$4.6B	$4.4B
Q3 24	$5.0B	$4.8B
Q4 24	$5.6B	$5.5B
Q1 25	$6.1B	$6.0B
Q2 25	$6.6B	$6.4B
Q3 25	$7.2B	$7.0B
Q4 25	$7.7B	$7.5B
Q1 26	$8.3B	$8.0B

Capital Expenditures

CapEx

Quarter	CapEx
Q2 23	$122M
Q3 23	$122M
Q4 23	$105M
Q1 24	$122M
Q2 24	$132M
Q3 24	$172M
Q4 24	$122M
Q1 25	$100M
Q2 25	$144M
Q3 25	$142M
Q4 25	$237M
Q1 26	$250M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 23	+7.8%	+0.7%
Q3 23	+4.9%	+6.2%
Q4 23	+4.1%	+2.2%
Q1 24	+34.2%	+105.3%
Q2 24	+43.0%	+101.5%
Q3 24	+47.3%	+84.9%
Q4 24	+51.2%	+86.5%
Q1 25	+24.7%	-12.4%
Q2 25	+20.2%	-3.6%
Q3 25	+22.0%	+8.4%
Q4 25	+28.2%	+11.5%
Q1 26	+29.5%	+22.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 23	$513M	5.9%
Q3 23	$629M	7.1%
Q4 23	$638M	6.9%
Q1 24	$1.6B	13.2%
Q2 24	$1.5B	11.7%
Q3 24	$1.4B	10.6%
Q4 24	$1.3B	9.3%
Q1 25	$1.3B	8.6%
Q2 25	$1.8B	11.8%
Q3 25	$2.3B	14.6%
Q4 25	$2.2B	12.2%
Q1 26	$2.2B	11.3%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q2 23	$1.3B	$438M	—
Q3 23	$1.4B	$388M	—
Q4 23	$1.4B	$418M	—
Q1 24	$2.3B	$1.6B	—
Q2 24	$2.4B	$1.3B	—
Q3 24	$2.4B	$1.1B	—
Q4 24	$2.2B	$1.0B	—
Q1 25	$2.3B	$949M	—
Q2 25	$2.7B	$1.1B	—
Q3 25	$3.0B	—	$1.1B
Q4 25	$3.0B	—	$1.1B
Q1 26	$3.0B	—	$1.0B

Revenue Segments

Quarter	Infrastructure Software	Semiconductor Solutions
Q2 23	$1.9B	$6.8B
Q3 23	$1.9B	$6.9B
Q4 23	$2.0B	$7.3B
Q1 24	$4.6B	$7.4B
Q2 24	$5.3B	$7.2B
Q3 24	$5.8B	$7.3B
Q4 24	$5.8B	$8.2B
Q1 25	$6.7B	$8.2B
Q2 25	$6.6B	$8.4B
Q3 25	$6.8B	$9.2B
Q4 25	$6.9B	$11.1B

Revenue by Geography

Quarter	Americas	Asia Pacific	Emea
Q2 23	$2.2B	$5.6B	$915M
Q3 23	$2.1B	$5.9B	$840M
Q4 23	$2.1B	$6.3B	$926M
Q1 24	$3.1B	$6.7B	$2.2B
Q2 24	$3.9B	$6.8B	$1.9B
Q3 24	$4.0B	$7.0B	$2.0B
Q4 24	$4.0B	$7.9B	$2.1B
Q1 25	$4.6B	$8.0B	$2.3B
Q2 25	$4.7B	$8.1B	$2.2B
Q3 25	$4.7B	$9.0B	$2.3B
Q4 25	$4.9B	$10.8B	$2.3B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 23	$11.6B	$0	$11.6B
Q3 23	$12.1B	$0	$12.1B
Q4 23	$14.2B	$0	$14.2B
Q1 24	$11.9B	$0	$11.9B
Q2 24	$9.8B	$0	$9.8B
Q3 24	$10.0B	$0	$10.0B
Q4 24	$9.3B	$0	$9.3B
Q1 25	$9.3B	$0	$9.3B
Q2 25	$9.5B	$0	$9.5B
Q3 25	$10.7B	$0	$10.7B
Q4 25	$16.2B	$0	$16.2B
Q1 26	$14.2B	$0	$14.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q2 23	4.27B	-0.5%
Q3 23	4.27B	+0.0%
Q4 23	4.27B	+0.0%
Q1 24	4.67B	+9.4%
Q2 24	4.80B	+2.8%
Q3 24	4.66B	-2.9%
Q4 24	4.83B	+3.5%
Q1 25	4.84B	+0.2%
Q2 25	4.83B	-0.2%
Q3 25	4.86B	+0.7%
Q4 25	4.89B	+0.6%
Q1 26	4.89B	-0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	—	—
FY 15	—	—
FY 16	—	—
FY 17	—	—
FY 18	$1M	15K
FY 19	$1M	19K
FY 20	$1M	21K
FY 21	$1M	20K
FY 22	$2M	20K
FY 23	$2M	20K
FY 24	$1M	37K
FY 25	$2M	33K