Broadcom

Information Technology Semiconductors Palo Alto, California Last filing Dec 18, 2025 · FY2025

                    Revenue
                    FY2025
                
$63.9B
                    3y CAGR +24.4%
                    
                    P90
                    
                    +23.9%
                    
                    Net income
                    FY2025
                
$23.1B
                    Net margin +36.2%
                    
                    P92
                    
                    +292.3%
                    
                    Total assets
                    FY2025
                
$171.1B
                    ROA +13.5%
                    
                    P76
                    
                    +3.3%
                    
                    Operating cash flow
                    FY2025
                
$27.5B
                    FCF margin +42.1%
                    
                    P97
                    
                    +37.9%

10 yrs · FY2016–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 5 years

Total assets $171.1B

Total liabilities $89.8B

Shareholders equity $81.3B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	+7.4%	-8.4%	+8.0%	+2.1%	—
Accounts Receivable	+36.3%	+28.7%	+23.4%	+42.8%	—
Inventory	+15.0%	+10.7%	+21.0%	+48.4%	—
Prepaid Expenses	+54.3%	+56.8%	+23.4%	+14.2%	—
Other Current Assets	—	—	—	—	—
Total Current Assets	+17.5%	+5.7%	+12.1%	+11.6%	—
Property,Plant and Equipment	+1.9%	+2.4%	-4.2%	-5.3%	—
Goodwill	+22.5%	+31.1%	+0.2%	+0.4%	—
Intangible Assets	+29.8%	+52.8%	-41.7%	-37.5%	—
Other Noncurrent Assets	+39.8%	+40.9%	+13.6%	-0.8%	—
Total Assets	+22.7%	+29.9%	-1.8%	-3.1%	—
Liabilities
Accounts Payable	+9.5%	+15.2%	+5.6%	-8.1%	—
Accrued Liabilities	+13.7%	+42.3%	-11.3%	+2.8%	—
Deferred Revenue	—	—	—	—	—
Current Portion of Long Term Debt	+85.9%	+67.7%	+143.3%	+52.7%	—
Other Current Liabilities	—	—	—	—	—
Total Current Liabilities	+31.0%	+38.5%	+8.6%	+12.3%	—
Long Term Debt	+13.0%	+20.5%	+1.5%	+4.2%	—
Deferred Revenue Noncurrent	—	—	—	—	—
Other Noncurrent Liabilities	+17.6%	+45.5%	-11.0%	-9.2%	—
Total Liabilities	+15.4%	+24.7%	-1.7%	-0.1%	—
Equity
Preferred Stock	—	—	—	—	—
Common Stock	—	—	—	—	—
Additional Paid In Capital	+30.8%	+40.5%	-6.9%	-13.0%	—
Retained Earnings	+90.1%	—	+89.4%	+114.4%	—
Accumulated Other Comprehensive Income	—	—	—	—	—
Total Stockholders Equity	+34.3%	+39.4%	-2.0%	-9.0%	—
Total Liabilitiesand Equity	+22.7%	+29.9%	-1.8%	-3.0%	—

Income Statement

Revenue, expense, and profitability

20 accounts · 5 years

Revenue $63.9B

Operating income $25.5B

Net income $23.1B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+23.5%	+23.4%	+14.2%	+21.0%	—
Expenses Cost of Revenue	+18.0%	+21.6%	+2.4%	+4.7%	—
Expenses Research and Development	+22.6%	+24.2%	+4.0%	+1.3%	—
Expenses Selling,General and Administrative	+33.0%	+54.4%	+8.7%	+2.6%	—
Expenses Depreciation and Amortization	+1.6%	+3.2%	-3.5%	-1.9%	—
Expenses Share Based Compensation	+45.2%	+49.9%	+12.9%	-10.0%	—
Expenses Restructuring and Asset Impairment	—	—	—	—	—
Expenses Operating Expenses	—	—	—	—	—
Other Income Expense Gross Profit	+26.6%	+24.5%	+21.1%	+31.2%	—
Other Income Expense Operating Income	+31.5%	+16.5%	+37.9%	+67.0%	—
Other Income Expense Interest Expense	+14.2%	+28.0%	-7.2%	-7.9%	—
Other Income Expense Other Income/expense	+36.5%	+45.8%	+97.7%	—	—
Other Income Expense Income Before Tax	+35.4%	+13.6%	+49.4%	+83.8%	—
Income Tax Income Tax Expense	—	+405.6%	+491.6%	+3137.9%	—
net Income net Income	+36.1%	-4.3%	+44.6%	+70.7%	—
net Income Comprehensive Income	—	—	—	—	—
Earnings Per Share Basic Eps	-25.2%	-56.8%	-53.5%	-82.5%	—
Earnings Per Share Diluted Eps	-24.9%	-56.6%	-53.1%	-82.3%	—
Earnings Per Share Weighted Average Shares Basic	+84.1%	+124.3%	+218.1%	+897.3%	—
Earnings Per Share Weighted Average Shares Diluted	+83.4%	+123.3%	+215.6%	+886.5%	—

Cash Flow Statement

Operating, investing, and financing flows

23 accounts · 5 years

Operating cash flow $27.5B

Investing cash flow $-580.0M

Financing cash flow $-20.1B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	+36.1%	-4.3%	+44.6%	+70.7%	—
Operating Activities Depreciation and Amortization	+96.7%	+3.2%	-3.5%	-1.9%	—
Operating Activities Stock Based Compensation	—	—	—	—	—
Operating Activities Deferred Income Taxes	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	+75.6%	—	+6.2%	+333.6%	—
Operating Activities net Cash From Operating Activities	+18.9%	+13.2%	+14.6%	+21.6%	—
Investing Activities Capital Expenditures	+8.9%	+7.3%	+1.0%	-4.3%	—
Investing Activities Business Acquisitions	—	+1380.8%	+157.4%	+2975.0%	—
Investing Activities Purchases of Investments	—	—	—	—	—
Investing Activities Other Investing Activities	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—
Financing Activities Proceeds From Debt	+12.1%	+59.2%	—	-80.5%	—
Financing Activities Repayment of Debt	+12.6%	+19.5%	-81.3%	-79.5%	—
Financing Activities Repurchase of Common Stock	—	—	—	—	—
Financing Activities Dividends Paid	+15.7%	+16.5%	+10.9%	+13.2%	—
Financing Activities Proceeds From Stock Issuance	+6.8%	+3.8%	-15.3%	-32.9%	—
Financing Activities Tax Withholding On Stock Based Compensation	+31.3%	+58.9%	+19.7%	+12.0%	—
Financing Activities Other Financing Activities	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—
Cash Reconciliation net Change In Cash	+10.7%	—	-37.5%	-94.4%	—
Cash Reconciliation Cash At Beginning of Period	+7.4%	-8.4%	+8.0%	+2.1%	—
Cash Reconciliation Cash At End of Period	+7.4%	-8.4%	+8.0%	+2.1%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+67.8%	+63.0%	+68.9%	+66.5%	+61.4%
Operating margin	+39.9%	+26.1%	+45.2%	+42.8%	+31.0%
Net margin	+36.2%	+11.4%	+39.3%	+34.6%	+24.5%
FCF margin	+42.1%	+37.6%	+49.2%	+49.1%	+48.5%
Growth
Revenue CAGR (3y)	+24.4%	+23.4%	+14.5%	+13.7%	+9.6%
Returns
ROE	+28.4%	+8.7%	+58.7%	+50.6%	+27.0%
ROA	+13.5%	+3.6%	+19.3%	+15.7%	+8.9%
ROIC	+18.8%	+6.4%	+28.1%	+24.5%	+15.6%
Liquidity
Current ratio	1.71x	1.17x	2.82x	2.62x	2.64x
Quick ratio	1.26x	0.82x	2.34x	2.18x	2.27x
Leverage
D/E	1.10x	1.45x	2.04x	2.23x	2.03x
Interest coverage	7.94x	3.41x	9.99x	8.19x	4.52x
Efficiency
Asset turnover	0.37x	0.31x	0.49x	0.45x	0.36x
Cash conversion cycle	+53d	+33d	+55d	+63d	+35d

Valuation

Price against fundamentals

AVGO $328 · 2025-09-29 · 351d old · FY2025

Market cap $1.6T

P/E 68.81x

P/S 24.91x

P/B 19.58x

EV $1.6T

EV/EBITDA 63.14x

FCF yield +1.7%

Dividend yield +0.7%

Notes

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