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Broadcom Inc.

AVGO· Nasdaq· Semiconductors & Related Devices

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
42.1%
ROIC, 5 yr avg
–
Revenue, 5 yr CAGR
+21.7%
We record prices for the companies we cover; AVGO is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
4.85B
Revenue
$63.9B
Free cash flow
$26.9B
Owner earnings
$19.3B

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
67.8%
Operating
39.9%
Net
–
Free cash flow
42.1%
Owner earnings
30.3%
Stock pay
11.8%

Returns

ROIC, FY2025
–
ROIC, 5 yr avg
–
ROE, FY2025
–
ROE, 5 yr avg
–

Growth (CAGR)

Revenue, 3 yr
24.4%
Revenue, 5 yr
21.7%
Revenue, 9 yr
19.1%
Diluted EPS, 3 yr
21.6%
Diluted EPS, 5 yr
49.8%
Diluted EPS, 9 yr
–
Free cash flow, 3 yr
18.2%
Free cash flow, 5 yr
18.3%
Free cash flow, 9 yr
29.2%

Financial health · FY2025

Cash and investments
$16.2B
Total debt
–
Net cash
–
Debt/Equity
–
Debt/FCF
–

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
–
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
2.9%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$63.9B

+19.1% a year over 9 years

FY2016: Revenue $13.2BFY2017: Revenue $17.6BFY2018: Revenue $20.8BFY2019: Revenue $22.6BFY2020: Revenue $23.9BFY2021: Revenue $27.4BFY2022: Revenue $33.2BFY2023: Revenue $35.8BFY2024: Revenue $51.6BFY2025: Revenue $63.9B
FY2016FY2025

Margins

Gross67.8%Operating39.9%Net–

FY2025

FY2016: Gross 44.9%, Operating -3.1%, Net -13.1%FY2017: Gross 48.2%, Operating 13.4%, Net 9.6%FY2018: Gross 51.5%, Operating 24.6%, Net 58.8%FY2019: Gross 55.2%, Operating 15.2%, Net –FY2020: Gross 56.6%, Operating 16.8%, Net –FY2021: Gross 61.4%, Operating 31.0%, Net –FY2022: Gross 66.5%, Operating 42.8%, Net 34.6%FY2023: Gross 68.9%, Operating 45.2%, Net 39.3%FY2024: Gross 63.0%, Operating 26.1%, Net 11.4%FY2025: Gross 67.8%, Operating 39.9%, Net –
FY2016FY2025

Free cash flow and owner earnings

Free cash flow$26.9BOwner earnings$19.3B

Free cash flow +29.2% a year

FY2016: Free cash flow $2.7B, Owner earnings $2.0BFY2017: Free cash flow $5.5B, Owner earnings $4.6BFY2018: Free cash flow $8.2B, Owner earnings $7.0BFY2019: Free cash flow $9.3B, Owner earnings $7.1BFY2020: Free cash flow $11.6B, Owner earnings $9.6BFY2021: Free cash flow $13.3B, Owner earnings $11.6BFY2022: Free cash flow $16.3B, Owner earnings $14.8BFY2023: Free cash flow $17.6B, Owner earnings $15.5BFY2024: Free cash flow $19.4B, Owner earnings $13.7BFY2025: Free cash flow $26.9B, Owner earnings $19.3B
FY2016FY2025

Diluted shares

4.85B

+26.7% over 9 years, net dilution

FY2016: Diluted shares 3.83BFY2017: Diluted shares 4.21BFY2018: Diluted shares 4.31BFY2019: Diluted shares 4.19BFY2020: Diluted shares 4.21BFY2021: Diluted shares 4.29BFY2022: Diluted shares 4.23BFY2023: Diluted shares 4.27BFY2024: Diluted shares 4.78BFY2025: Diluted shares 4.85B
FY2016FY2025

Return on invested capital

–

FY2025

FY2016: ROIC –FY2017: ROIC 8.7%FY2018: ROIC –FY2019: ROIC –FY2020: ROIC –FY2021: ROIC 16.2%FY2022: ROIC –FY2023: ROIC –FY2024: ROIC –FY2025: ROIC –
FY2016FY2025

Net debt (below zero)

–

$27.5B more debt than cash

FY2016: Net cash –FY2017: Net cash -$6.3BFY2018: Net cash -$13.2BFY2019: Net cash -$27.7BFY2020: Net cash -$33.4BFY2021: Net cash -$27.5BFY2022: Net cash –FY2023: Net cash –FY2024: Net cash –FY2025: Net cash –
FY2016FY2025

Every figure, year by year

Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
The business
Revenue$13.2B$17.6B$20.8B$22.6B$23.9B$27.4B$33.2B$35.8B$51.6B$63.9B
Revenue growth–33.2%18.2%8.4%5.7%14.9%21.0%7.9%44.0%23.9%
Gross margin44.9%48.2%51.5%55.2%56.6%61.4%66.5%68.9%63.0%67.8%
Operating margin-3.1%13.4%24.6%15.2%16.8%31.0%42.8%45.2%26.1%39.9%
Net income-$1.7B$1.7B$12.3B–––$11.5B$14.1B$5.9B–
Net margin-13.1%9.6%58.8%–––34.6%39.3%11.4%–
Diluted EPS$-0.49s$0.40s$2.84s$0.64s$0.63s$1.50s$2.65$3.30$1.23$4.77
Return on invested capital?–8.7%–––16.2%––––
Cash
Operating cash flow$3.4B$6.6B$8.9B$9.7B$12.1B$13.8B$16.7B$18.1B$20.0B$27.5B
Capital expenditure$723.0M$1.1B$635.0M$432.0M$463.0M$443.0M$424.0M$452.0M$548.0M$623.0M
Free cash flow$2.7B$5.5B$8.2B$9.3B$11.6B$13.3B$16.3B$17.6B$19.4B$26.9B
Stock-based compensation$679.0M$921.0M$1.2B$2.2B$2.0B$1.7B$1.5B$2.2B$5.7B$7.6B
Owner earnings?$2.0B$4.6B$7.0B$7.1B$9.6B$11.6B$14.8B$15.5B$13.7B$19.3B
Free cash flow per share$0.70$1.30$1.91$2.21$2.75$3.11$3.85$4.13$4.06$5.55
Capital allocation
Dividends paid$750.0M$1.7B$3.0B$4.2B$5.5B$6.2B$7.0B$7.6B$9.8B$11.1B
Share repurchases$0$0$7.3B$5.4B$0$0$7.0B$5.8B$7.2B$2.5B
Diluted shares3.83Bs4.21Bs4.31Bs4.19Bs4.21Bs4.29Bs4.23B4.27B4.78B4.85B
Share count change?–9.9%2.4%-2.8%0.5%1.9%-1.4%0.9%11.8%1.6%
Balance sheet
Cash and equivalents$3.1B$11.2B$4.3B$5.1B$7.6B$12.2B$12.4B$14.2B$9.3B$16.2B
Short-term investments––––––––––
Total debt–$17.5B$17.5B$32.8B$41.1B$39.7B––––
Net debt–$6.3B$13.2B$27.7B$33.4B$27.5B––––
Shareholders' equity$21.9B$20.3B$26.7B$24.9B$23.9B$25.0B$22.7B$24.0B$67.7B$81.3B

Latest filings

All on EDGAR
2026-09-1010-QQuarterly report
2026-09-028-KEarnings release
2026-06-0910-QQuarterly report
2026-06-038-KEarnings release
2026-03-1110-QQuarterly report
2026-03-048-KEarnings release
2026-03-02DEF 14AProxy statement
2025-12-1810-KAnnual report
2025-12-118-KEarnings release
2025-09-1010-QQuarterly report

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