Broadcom Inc. AVGO
We are a global technology leader that designs, develops and supplies a broad range of semiconductor and semiconductor-based solutions and infrastructure software solutions. Our more than 60-year history of innovation dates back to our diverse origins from AT&T/Bell Labs, Lucent and Hewlett-Packard Company, and has evolved through acquisitions, including LSI Corporation, Broadcom Corporation, Brocade Communications Systems, Inc., CA, Inc., Symantec Enterprise Security, and VMware, Inc. ("VMware"). Over the years, we have assembled a large team of semiconductor and software design engineers around the world. We maintain design, product and software development engineering expertise and resources at locations primarily in the U.S., Asia, and Europe. We combine global scale, engineering depth, broad product portfolio, superior execution and operational focus to deliver category-leading semiconductor and infrastructure software solutions.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $63.89B | $51.57B | $35.82B | $33.20B | $27.45B | $23.89B | $22.60B | $20.85B | $17.64B | $13.24B |
| Cost of revenue | $20.59B | $19.07B | $11.13B | $11.11B | $10.61B | $10.37B | $10.11B | $10.12B | $9.13B | $7.30B |
| Gross profit | $43.29B | $32.51B | $24.69B | $22.09B | $16.84B | $13.52B | $12.48B | $10.73B | $8.51B | $5.94B |
| R&D | $10.98B | $9.31B | $5.25B | $4.92B | $4.85B | $4.97B | $4.70B | $3.77B | $3.30B | $2.67B |
| SG&A | $4.21B | $4.96B | $1.59B | $1.38B | $1.35B | $1.94B | $1.71B | $1.06B | $789.0M | $806.0M |
| Total operating expenses | $17.81B | $19.05B | $8.48B | $7.87B | $8.32B | $9.50B | $9.04B | $5.60B | $6.14B | $6.35B |
| Operating income | $25.48B | $13.46B | $16.21B | $14.22B | $8.52B | $4.01B | $3.44B | $5.13B | $2.37B | -$409.0M |
| Interest expense | $3.21B | $3.95B | $1.62B | $1.74B | $1.89B | $1.78B | $1.44B | $628.0M | $454.0M | $585.0M |
| Pre-tax income | $22.73B | $9.92B | $15.10B | $12.43B | $6.76B | $2.44B | $2.23B | $4.54B | $1.82B | -$1.11B |
| Income tax | $397.0M | $3.75B | $1.01B | $939.0M | $29.0M | $518.0M | $510.0M | $8.08B | $35.0M | $642.0M |
| Net income | $23.13B | $5.89B | $14.08B | $11.49B | $6.74B | $2.96B | $2.72B | $12.61B | $1.78B | -$1.74B |
| EPS, basic | 4.91 | 1.27 | 3.39 | 2.74 | 15.70 | 6.62 | 6.77 | 29.33 | 4.18 | -4.75 |
| EPS, diluted | 4.77 | 1.23 | 3.30 | 2.65 | 15.00 | 6.33 | 6.43 | 28.44 | 4.02 | -4.86 |
| Shares, diluted (wtd. avg.) | $4.85B | $4.78B | $4.27B | $4.23B | $429.0M | $421.0M | $419.0M | $431.0M | $421.0M | $383.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $16.18B | $9.35B | $14.19B | $12.42B | $12.16B | $7.62B | $5.05B | $4.29B | $11.20B | $3.10B |
| Receivables | $7.14B | $4.42B | $3.15B | $2.96B | $2.07B | $2.30B | $3.26B | $3.33B | $2.45B | — |
| Inventory | $2.27B | $1.76B | $1.90B | $1.93B | $1.30B | $1.00B | $874.0M | $1.12B | $1.45B | — |
| Total current assets | $31.57B | $19.59B | $20.85B | $18.50B | $16.59B | $11.89B | $9.92B | $9.11B | $15.82B | — |
| Property, plant and equipment | $2.53B | $2.52B | $2.15B | $2.22B | $2.35B | $2.51B | $2.56B | $2.63B | $2.60B | — |
| Goodwill | $97.80B | $97.87B | $43.65B | $43.61B | $43.45B | $43.45B | $36.71B | $26.91B | $24.71B | $24.73B |
| Other intangibles | $32.27B | $40.58B | $3.87B | $7.11B | $11.37B | $16.78B | $17.55B | $10.76B | $10.83B | — |
| Total assets | $171.09B | $165.65B | $72.86B | $73.25B | $75.57B | $75.93B | $67.49B | $50.12B | $54.42B | — |
| Accounts payable | $1.56B | $1.66B | $1.21B | $998.0M | $1.09B | $836.0M | $855.0M | $811.0M | $1.10B | — |
| Short-term debt | $3.15B | $1.25B | $1.56B | $403.0M | $264.0M | $827.0M | $2.79B | $0 | $117.0M | — |
| Total current liabilities | $18.51B | $16.70B | $7.41B | $7.05B | $6.28B | $6.37B | $6.90B | $2.34B | $2.53B | — |
| Long-term debt | — | — | — | — | $39.44B | $40.23B | $30.01B | $17.49B | $17.43B | — |
| Total liabilities | $89.80B | $97.97B | $48.87B | $50.54B | $50.58B | $52.03B | $42.52B | $23.47B | $31.23B | — |
| Retained earnings | $9.76B | $0 | $2.68B | $1.60B | $748.0M | $0 | $0 | $3.49B | -$129.0M | — |
| Total equity | $81.29B | $67.68B | $23.99B | $22.71B | $24.96B | $23.87B | $24.94B | $26.66B | $23.19B | $21.88B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $27.54B | $19.96B | $18.09B | $16.74B | $13.76B | $12.06B | $9.70B | $8.88B | $6.55B | $3.41B |
| Depreciation and amortisation | $574.0M | $593.0M | $502.0M | $529.0M | $539.0M | $570.0M | $569.0M | $515.0M | $451.0M | $402.0M |
| Stock-based compensation | $7.57B | $5.74B | $2.17B | $1.53B | $1.70B | $1.98B | $2.19B | $1.23B | $921.0M | $679.0M |
| Capital expenditure | $623.0M | $548.0M | $452.0M | $424.0M | $443.0M | $463.0M | $432.0M | $635.0M | $1.07B | $723.0M |
| Investing cash flow | -$580.0M | -$23.07B | -$689.0M | -$667.0M | -$245.0M | -$11.11B | -$15.42B | -$4.67B | -$674.0M | -$9.84B |
| Financing cash flow | -$20.13B | -$1.73B | -$15.62B | -$15.82B | -$8.97B | $1.61B | $6.49B | -$11.12B | $2.23B | $7.70B |
| Dividends paid | $11.14B | $9.81B | $7.64B | $6.73B | $5.91B | $5.24B | $4.24B | $2.92B | $1.65B | $716.0M |
| Buybacks | $2.45B | $7.18B | $5.82B | $7.00B | $0 | $0 | $5.43B | $7.26B | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001730168-25-000121.
Others in SIC 3674
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| NVDA | NVIDIA CORP | $5.55T | 47.0x | 65.5% |
| MU | MICRON TECHNOLOGY INC | $1.15T | 133.9x | 48.9% |
| AMD | ADVANCED MICRO DEVICES INC | $779.62B | 180.2x | 34.3% |
| INTC | INTEL CORP | $483.22B | — | -0.5% |
| AMAT | APPLIED MATERIALS INC /DE | $360.86B | 52.5x | 4.4% |
| TXN | TEXAS INSTRUMENTS INC | $236.02B | 47.4x | 13.0% |
| MRVL | Marvell Technology, Inc. | $196.03B | 72.8x | 42.1% |
| ADI | ANALOG DEVICES INC | $175.53B | 79.4x | 16.9% |