Qorvo, Inc. QRVO
Qorvo® is a global leader in the development and commercialization of technologies and products for wireless, wired and power markets.
We are organized into three operating and reportable segments that align our technologies and applications with customers and end markets: High Performance Analog ("HPA"), Connectivity and Sensors Group ("CSG") and Advanced Cellular Group ("ACG").
HPA is a leading global supplier of radio frequency ("RF"), analog mixed signal and power management solutions. CSG is a leading global supplier of connectivity solutions, with broad expertise spanning ultra-wideband ("UWB"), Matter®, Bluetooth® Low Energy ("BLE"), Zigbee®, Thread®, Wi-Fi® and cellular solutions for the Internet of
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 | $3.68B | $3.72B | $3.77B | $3.57B | $4.65B | $4.02B | $3.24B | $3.09B | $2.97B | $3.03B |
| Cost of revenue | $1.99B | $2.18B | $2.28B | $2.27B | $2.36B | $2.13B | $1.92B | $1.90B | $1.83B | $1.90B |
| Gross profit | $1.69B | $1.54B | $1.49B | $1.30B | $2.29B | $1.88B | $1.32B | $1.20B | $1.15B | $1.14B |
| R&D | $726.1M | $747.7M | $682.2M | $649.8M | $623.6M | $570.4M | $484.4M | $450.5M | $445.1M | $470.8M |
| SG&A | $165.2M | $171.7M | $171.9M | $148.1M | $349.7M | $367.2M | $343.6M | $476.1M | $527.8M | $545.6M |
| Total operating expenses | $1.28B | $1.44B | $1.40B | $1.11B | $1.06B | $976.9M | $898.5M | $978.7M | $1.08B | $1.05B |
| Operating income | $411.4M | $95.5M | $91.7M | $183.2M | $1.23B | $906.6M | $423.2M | $216.5M | $70.3M | $88.1M |
| Interest expense | $73.1M | $78.3M | $69.2M | $68.5M | $63.3M | $75.2M | $60.4M | $44.0M | $59.5M | $58.9M |
| Pre-tax income | $398.3M | $65.9M | $73.6M | $124.6M | $1.18B | $807.4M | $395.1M | $91.8M | $17.1M | $27.3M |
| Income tax | $59.3M | $10.3M | $143.9M | $21.5M | $147.7M | $73.8M | $60.8M | $41.3M | $57.4M | $43.9M |
| Net income | $339.0M | $55.6M | -$70.3M | $103.2M | $1.03B | $733.6M | $334.3M | $133.1M | -$40.3M | -$16.6M |
| EPS, basic | 3.66 | 0.59 | -0.72 | 1.01 | 9.38 | 6.43 | 2.86 | 1.07 | -0.32 | -0.13 |
| EPS, diluted | 3.62 | 0.58 | -0.72 | 1.00 | 9.26 | 6.32 | 2.80 | 1.05 | -0.32 | -0.13 |
| Shares, diluted (wtd. avg.) | $93.5M | $95.5M | $97.6M | $103.0M | $111.5M | $116.0M | $119.3M | $127.4M | $126.9M | $127.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.22B | $1.02B | $1.03B | $808.9M | $972.8M | $1.40B | $715.6M | $711.4M | $926.4M | $545.8M |
| Short-term investments | — | — | — | — | — | — | — | $58.0M | $0 | — |
| Receivables | $382.5M | $386.7M | $413.0M | $304.5M | $568.9M | $457.4M | $367.2M | $378.2M | $346.0M | $357.9M |
| Inventory | $553.7M | $641.0M | $710.6M | $796.6M | $755.7M | $507.8M | $517.2M | $511.8M | $472.3M | $430.5M |
| Total current assets | $2.31B | $2.17B | $2.45B | $2.03B | $2.45B | $2.48B | $1.69B | $1.68B | $1.84B | $1.46B |
| Property, plant and equipment | $710.4M | $801.9M | $871.0M | $1.15B | $1.25B | $1.27B | $1.26B | $1.37B | $1.37B | $1.39B |
| Goodwill | $2.35B | $2.39B | $2.53B | $2.76B | $2.78B | $2.64B | $2.61B | $2.17B | $2.17B | $2.17B |
| Other intangibles | $121.5M | $273.5M | $509.4M | $537.7M | $674.8M | $611.2M | $808.9M | $408.2M | $860.3M | $1.40B |
| Total assets | $5.83B | $5.93B | $6.55B | $6.69B | $7.51B | $7.22B | $6.56B | $5.81B | $6.38B | $6.52B |
| Accounts payable | $242.9M | $260.7M | $253.0M | $210.7M | $327.9M | $313.9M | $247.0M | $233.3M | $213.2M | $216.2M |
| Short-term debt | — | $0 | $438.7M | $310.0K | $791.0K | $5.1M | $6.9M | $80.0K | — | — |
| Total current liabilities | $712.8M | $783.2M | $1.23B | $555.8M | $675.1M | $681.6M | $539.0M | $435.6M | $441.3M | $418.8M |
| Long-term debt | $1.55B | $1.55B | $1.55B | $2.05B | $2.05B | $1.74B | $1.57B | $920.9M | $983.3M | $989.2M |
| Total liabilities | $2.48B | $2.54B | $3.00B | $2.79B | $2.96B | $2.59B | $2.27B | $1.45B | $1.61B | $1.63B |
| Retained earnings | $38.8M | -$34.0M | -$89.6M | $84.5M | $512.1M | $355.0M | $0 | -$321.2M | -$458.8M | -$456.4M |
| Total equity | $3.34B | $3.39B | $3.56B | $3.90B | $4.55B | $4.63B | $4.29B | $4.36B | $4.78B | $4.90B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $808.6M | $622.2M | $833.2M | $843.2M | $1.05B | $1.30B | $945.6M | $810.4M | $852.5M | $776.8M |
| Depreciation and amortisation | $151.3M | $163.2M | $193.0M | $206.4M | $210.9M | $203.2M | $221.6M | $208.6M | $174.4M | $209.8M |
| Stock-based compensation | $136.1M | $136.3M | $120.8M | $105.6M | $83.5M | $89.3M | $76.0M | $71.6M | $68.2M | $88.8M |
| Capital expenditure | $129.1M | $137.6M | $127.2M | $159.0M | $213.5M | $187.0M | $164.1M | $220.9M | $269.8M | $552.7M |
| Investing cash flow | -$43.6M | $36.6M | -$136.5M | -$153.4M | -$596.0M | -$218.7M | -$1.11B | -$247.6M | -$277.4M | -$490.3M |
| Financing cash flow | -$566.5M | -$684.4M | -$459.6M | -$853.4M | -$875.5M | -$401.9M | $165.6M | -$776.7M | -$196.8M | -$165.7M |
| Buybacks | $532.6M | $356.3M | $400.1M | $861.8M | $1.15B | $515.1M | $515.1M | $638.1M | $219.9M | $209.4M |
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 0001193125-26-285512.
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