NASDAQ : AVGO
Broadcom Inc. — Financial statements
Technology · Semiconductors · United States
Last price 345 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.65T
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Financial statements
Broadcom Inc. (AVGO) reported revenue of 89.10B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 89.10B | 63.89B | 51.57B | 35.82B | 33.20B | 27.45B |
| Cost of Revenue | 21.82B | 14.49B | 12.79B | 9.27B | 8.26B | 7.16B |
| Gross Profit | 67.29B | 49.40B | 38.79B | 26.55B | 24.95B | 20.29B |
| Selling, General & Admin | 3.96B | 4.00B | 4.41B | 1.34B | 1.38B | 1.35B |
| Research & Development | 11.84B | 10.98B | 9.31B | 5.25B | 4.92B | 4.85B |
| Amortization of Goodwill & Intangibles | 7.99B | 8.06B | 9.27B | 3.25B | 4.36B | 5.40B |
| Operating Expenses | 23.79B | 23.03B | 22.99B | 9.84B | 10.66B | 11.60B |
| Operating Income | 43.50B | 26.37B | 15.80B | 16.71B | 14.29B | 8.68B |
| Interest Expense | -3.12B | -3.21B | -3.95B | -1.62B | -1.74B | -1.89B |
| Interest & Investment Income | 347.00M | 347.00M | 461.00M | 535.00M | 100.00M | 16.00M |
| Other Non Operating Income (Expenses) | 441.00M | 125.00M | -42.00M | -33.00M | 16.00M | 16.00M |
| EBT Excluding Unusual Items | 41.17B | 23.63B | 12.26B | 15.59B | 12.66B | 6.83B |
| Merger & Restructuring Charges | -612.00M | -813.00M | -2.34B | -296.00M | -62.00M | -149.00M |
| Gain (Loss) on Sale of Investments | -17.00M | -17.00M | -12.00M | 11.00M | -169.00M | 99.00M |
| Asset Writedown | -70.00M | -70.00M | -16.00M | |||
| Legal Settlements | -204.00M | |||||
| Pretax Income | 40.47B | 22.73B | 9.92B | 15.10B | 12.43B | 6.76B |
| Income Tax Expense | 2.20B | -397.00M | 3.75B | 1.01B | 939.00M | 29.00M |
| Earnings From Continuing Operations | 38.27B | 23.13B | 6.17B | 14.08B | 11.49B | 6.74B |
| Earnings From Discontinued Operations | -273.00M | |||||
| Net Income to Company | 38.27B | 23.13B | 5.89B | 14.08B | 11.49B | 6.74B |
| Net Income | 38.27B | 23.13B | 5.89B | 14.08B | 11.49B | 6.74B |
| Preferred Dividends & Other Adjustments | 272.00M | 299.00M | ||||
| Net Income to Common | 38.27B | 23.13B | 5.89B | 14.08B | 11.22B | 6.44B |
| Shares Outstanding (Basic) | 4.75B | 4.71B | 4.62B | 4.15B | 4.09B | 4.10B |
| Shares Outstanding (Diluted) | 4.89B | 4.85B | 4.78B | 4.27B | 4.23B | 4.29B |
| EPS (Basic) | 8.06 | 4.91 | 1.27 | 3.39 | 2.74 | 1.57 |
| EPS (Diluted) | 7.83 | 4.77 | 1.23 | 3.30 | 2.65 | 1.50 |
| Free Cash Flow | 39.40B | 26.91B | 19.41B | 17.63B | 16.31B | 13.32B |
| Free Cash Flow Per Share | 8.07 | 5.55 | 4.06 | 4.13 | 3.85 | 3.10 |
| Dividend Per Share | 2.60 | 2.42 | 2.17 | 1.91 | 1.69 | 1.49 |
| Gross Margin | 75.52% | 77.33% | 75.20% | 74.11% | 75.13% | 73.91% |
| Operating Margin | 48.81% | 41.27% | 30.63% | 46.64% | 43.03% | 31.64% |
| Profit Margin | 42.94% | 36.20% | 11.43% | 39.31% | 33.80% | 23.45% |
| Free Cash Flow Margin | 44.22% | 42.13% | 37.64% | 49.23% | 49.13% | 48.53% |
| EBITDA | 52.26B | 35.14B | 25.81B | 20.54B | 19.27B | 14.72B |
| EBITDA Margin | 58.65% | 55.01% | 50.04% | 57.35% | 58.04% | 53.64% |
| D&A For EBITDA | 8.76B | 8.78B | 10.01B | 3.83B | 4.98B | 6.04B |
| EBIT | 43.50B | 26.37B | 15.80B | 16.71B | 14.29B | 8.68B |
| EBIT Margin | 48.81% | 41.27% | 30.63% | 46.64% | 43.03% | 31.64% |
| Effective Tax Rate | 5.45% | 37.80% | 6.72% | 7.55% | 0.43% | |
| Revenue as Reported | 89.10B | 63.89B | 51.57B | 35.82B | 33.20B | 27.45B |
Balance sheet
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 23.98B | 16.18B | 9.35B | 14.19B | 12.42B | 12.16B |
| Cash & Short-Term Investments | 23.98B | 16.18B | 9.35B | 14.19B | 12.42B | 12.16B |
| Accounts Receivable | 20.89B | 12.15B | 6.33B | 3.65B | 2.96B | 2.07B |
| Receivables | 20.89B | 12.15B | 6.33B | 3.65B | 2.96B | 2.07B |
| Inventory | 4.52B | 2.27B | 1.76B | 1.90B | 1.93B | 1.30B |
| Prepaid Expenses | 1.96B | 518.00M | 1.39B | 743.00M | 864.00M | 539.00M |
| Other Current Assets | 818.00M | 457.00M | 764.00M | 364.00M | 341.00M | 516.00M |
| Total Current Assets | 52.17B | 31.57B | 19.59B | 20.85B | 18.50B | 16.59B |
| Property, Plant & Equipment | 3.14B | 3.85B | 3.85B | 2.62B | 2.74B | 2.94B |
| Goodwill | 97.80B | 97.80B | 97.87B | 43.65B | 43.61B | 43.45B |
| Other Intangible Assets | 26.32B | 32.27B | 40.58B | 3.87B | 7.11B | 11.37B |
| Other Long-Term Assets | 8.71B | 5.60B | 3.75B | 1.88B | 1.28B | 1.22B |
| Total Assets | 188.15B | 171.09B | 165.65B | 72.86B | 73.25B | 75.57B |
| Accounts Payable | 4.00B | 1.56B | 1.66B | 1.21B | 998.00M | 1.09B |
| Accrued Expenses | 2.13B | 2.75B | 2.51B | 1.31B | 1.59B | 1.35B |
| Current Portion of Long-Term Debt | 2.25B | 3.15B | 1.25B | 1.56B | 403.00M | 264.00M |
| Current Portion of Leases | 144.00M | 233.00M | 105.00M | 111.00M | 109.00M | |
| Current Income Taxes Payable | 1.97B | 921.00M | 720.00M | 473.00M | 680.00M | 541.00M |
| Current Unearned Revenue | 9.50B | 9.47B | 9.39B | 2.49B | 2.93B | 2.62B |
| Other Current Liabilities | 986.00M | 519.00M | 936.00M | 252.00M | 334.00M | 314.00M |
| Total Current Liabilities | 20.84B | 18.51B | 16.70B | 7.41B | 7.05B | 6.28B |
| Long-Term Debt | 57.17B | 61.98B | 66.28B | 37.62B | 39.05B | 39.40B |
| Long-Term Leases | 1.18B | 1.16B | 363.00M | 411.00M | 499.00M | |
| Long-Term Unearned Revenue | 3.62B | 3.55B | 5.10B | 299.00M | 410.00M | 566.00M |
| Long-Term Deferred Tax Liabilities | 1.53B | 2.70B | 4.70B | 99.00M | ||
| Other Long-Term Liabilities | 5.30B | 1.87B | 4.03B | 3.09B | 3.61B | 3.83B |
| Total Liabilities | 88.46B | 89.80B | 97.97B | 48.87B | 50.54B | 50.58B |
| Common Stock | 5.00M | 5.00M | 5.00M | 4.00M | ||
| Additional Paid-In Capital | 77.33B | 71.31B | 67.47B | 21.09B | 21.16B | 24.33B |
| Retained Earnings | 22.15B | 9.76B | 2.68B | 1.60B | 748.00M | |
| Comprehensive Income & Other | 204.00M | 218.00M | 207.00M | 207.00M | -54.00M | -116.00M |
| Total Common Equity | 99.69B | 81.29B | 67.68B | 23.99B | 22.71B | 24.96B |
| Shareholders' Equity | 99.69B | 81.29B | 67.68B | 23.99B | 22.71B | 24.99B |
| Total Liabilities & Equity | 188.15B | 171.09B | 165.65B | 72.86B | 73.25B | 75.57B |
| Total Debt | 59.42B | 66.46B | 68.92B | 39.65B | 39.98B | 40.27B |
| Net Cash (Debt) | -35.44B | -50.28B | -59.57B | -25.46B | -27.56B | -28.11B |
| Net Cash Per Share | -7.26 | -10.36 | -12.47 | -5.96 | -6.51 | -6.55 |
| Filing Date Shares Outstanding | 4.77B | 4.74B | 4.69B | 4.68B | 4.18B | 4.13B |
| Total Common Shares Outstanding | 4.77B | 4.74B | 4.69B | 4.14B | 4.18B | 4.13B |
| Working Capital | 31.34B | 13.06B | 2.90B | 13.44B | 11.45B | 10.30B |
| Book Value Per Share | 20.88 | 17.15 | 14.44 | 5.79 | 5.43 | 6.04 |
| Tangible Book Value | -24.44B | -48.78B | -70.78B | -23.53B | -28.02B | -29.86B |
| Tangible Book Value Per Share | -5.12 | -10.29 | -15.10 | -5.68 | -6.70 | -7.23 |
| Land | 204.00M | 204.00M | 195.00M | 195.00M | 195.00M | |
| Buildings | 1.49B | 1.52B | 1.18B | 1.16B | 1.15B | |
| Machinery | 5.66B | 5.25B | 4.74B | 4.41B | 4.16B | |
| Construction In Progress | 78.00M | 57.00M | 63.00M | 63.00M | 38.00M |
Cash flow statement
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 38.27B | 23.13B | 5.89B | 14.08B | 11.49B | 6.74B |
| Depreciation & Amortization | 8.76B | 8.78B | 10.01B | 3.83B | 4.98B | 6.04B |
| Stock-Based Compensation | 8.48B | 7.57B | 5.74B | 2.17B | 1.53B | 1.70B |
| Other Operating Activities | -3.55B | -3.43B | 2.95B | -360.00M | 378.00M | -590.00M |
| Change in Accounts Receivable | -7.20B | -2.72B | 2.33B | -187.00M | -870.00M | 210.00M |
| Change in Inventory | -2.34B | -510.00M | 150.00M | 27.00M | -627.00M | -294.00M |
| Change in Accounts Payable | 2.43B | -118.00M | 121.00M | 209.00M | -79.00M | 243.00M |
| Change in Other Net Operating Assets | -4.20B | -5.16B | -7.24B | -1.69B | -78.00M | -286.00M |
| Operating Cash Flow | 40.65B | 27.54B | 19.96B | 18.09B | 16.74B | 13.76B |
| Capital Expenditures | -1.25B | -623.00M | -548.00M | -452.00M | -424.00M | -443.00M |
| Cash Acquisitions | -25.98B | -53.00M | -246.00M | -8.00M | ||
| Divestitures | 300.00M | 3.48B | 45.00M | |||
| Investment in Securities | -671.00M | -349.00M | -19.00M | -118.00M | 169.00M | |
| Other Investing Activities | 118.00M | 92.00M | -10.00M | -66.00M | 3.00M | -8.00M |
| Investing Cash Flow | -1.80B | -580.00M | -23.07B | -689.00M | -667.00M | -245.00M |
| Long-Term Debt Issued | 15.67B | 39.95B | 1.94B | 9.90B | ||
| Long-Term Debt Repaid | -18.48B | -19.61B | -403.00M | -2.36B | -11.49B | |
| Net Debt Issued (Repaid) | -5.21B | -2.81B | 20.35B | -403.00M | -426.00M | -1.59B |
| Issuance of Common Stock | 216.00M | 221.00M | 190.00M | 122.00M | 114.00M | 170.00M |
| Repurchase of Common Stock | -8.45B | -6.31B | -12.39B | -7.68B | -8.46B | -1.30B |
| Preferred Dividends Paid | -299.00M | -299.00M | ||||
| Common Dividends Paid | -12.08B | -11.14B | -9.81B | -7.64B | -6.73B | -5.91B |
| Dividends Paid | -12.08B | -11.14B | -9.81B | -7.64B | -7.03B | -6.21B |
| Other Financing Activities | -72.00M | -84.00M | -63.00M | -12.00M | -17.00M | -42.00M |
| Financing Cash Flow | -25.59B | -20.13B | -1.73B | -15.62B | -15.82B | -8.97B |
| Net Cash Flow | 13.26B | 6.83B | -4.84B | 1.77B | 253.00M | 4.54B |
| Free Cash Flow | 39.40B | 26.91B | 19.41B | 17.63B | 16.31B | 13.32B |
| Free Cash Flow Margin | 44.22% | 42.13% | 37.64% | 49.23% | 49.13% | 48.53% |
| Free Cash Flow Per Share | 8.07 | 5.55 | 4.06 | 4.13 | 3.85 | 3.10 |
| Levered Free Cash Flow | 30.60B | 25.04B | 28.50B | 13.61B | 12.90B | 11.87B |
| Unlevered Free Cash Flow | 32.54B | 27.05B | 30.97B | 14.62B | 13.99B | 13.05B |
| Cash Interest Paid | 2.69B | 2.67B | 3.25B | 1.50B | 1.39B | 1.56B |
| Cash Income Tax Paid | 2.98B | 2.59B | 3.15B | 1.78B | 908.00M | 775.00M |
| Change in Working Capital | -11.30B | -8.50B | -4.64B | -1.64B | -1.65B | -127.00M |
Ratios
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.56T | 1.75T | 788.95B | 346.02B | 191.53B | 218.84B |
| Enterprise Value | 1.59T | 1.80T | 848.96B | 373.31B | 221.07B | 248.22B |
| Last Close Price | 326.08 | 366.90 | 166.04 | 81.16 | 44.59 | 48.67 |
| PE Ratio | 41.62 | 75.48 | 133.83 | 24.57 | 17.07 | 34.00 |
| Forward PE | 18.74 | 44.02 | 28.55 | 18.77 | 11.74 | 17.43 |
| PS Ratio | 17.47 | 27.32 | 15.30 | 9.66 | 5.77 | 7.97 |
| PB Ratio | 15.62 | 21.47 | 11.66 | 14.43 | 8.43 | 8.76 |
| P/FCF Ratio | 39.50 | 64.86 | 40.64 | 19.62 | 11.74 | 16.43 |
| P/OCF Ratio | 38.29 | 63.39 | 39.52 | 19.13 | 11.44 | 15.90 |
| PEG Ratio | 0.34 | 1.48 | 1.45 | 1.58 | 0.69 | 1.23 |
| EV/Sales Ratio | 17.87 | 28.16 | 16.46 | 10.42 | 6.66 | 9.04 |
| EV/EBITDA Ratio | 30.46 | 51.19 | 32.90 | 18.17 | 11.47 | 16.86 |
| EV/EBIT Ratio | 36.60 | 68.23 | 53.74 | 22.35 | 15.47 | 28.58 |
| EV/FCF Ratio | 40.40 | 66.84 | 43.73 | 21.17 | 13.55 | 18.63 |
| Debt / Equity Ratio | 0.60 | 0.82 | 1.02 | 1.65 | 1.76 | 1.61 |
| Debt / EBITDA Ratio | 1.13 | 1.88 | 2.65 | 1.92 | 2.06 | 2.72 |
| Debt / FCF Ratio | 1.51 | 2.47 | 3.55 | 2.25 | 2.45 | 3.02 |
| Net Debt / Equity Ratio | 0.36 | 0.62 | 0.88 | 1.06 | 1.21 | 1.12 |
| Net Debt / EBITDA Ratio | 0.68 | 1.43 | 2.31 | 1.24 | 1.43 | 1.91 |
| Net Debt / FCF Ratio | 0.90 | 1.87 | 3.07 | 1.44 | 1.69 | 2.11 |
| Asset Turnover | 0.50 | 0.38 | 0.43 | 0.49 | 0.45 | 0.36 |
| Inventory Turnover | 6.51 | 7.19 | 6.99 | 4.85 | 5.12 | 6.23 |
| Quick Ratio | 2.15 | 1.53 | 0.94 | 2.41 | 2.18 | 2.27 |
| Current Ratio | 2.50 | 1.71 | 1.17 | 2.81 | 2.62 | 2.64 |
| Return on Equity (ROE) | 44.25% | 31.05% | 13.46% | 60.31% | 48.20% | 27.56% |
| Return on Assets (ROA) | 15.37% | 9.79% | 8.28% | 14.29% | 12.00% | 7.17% |
| Return on Invested Capital (ROIC) | 30.68% | 20.38% | 11.12% | 31.25% | 25.55% | 15.57% |
| Return on Capital Employed (ROCE) | 26.00% | 17.30% | 10.60% | 25.50% | 21.60% | 12.50% |
| Earnings Yield | 2.40% | 1.32% | 0.75% | 4.07% | 6.00% | 3.08% |
| FCF Yield | 2.53% | 1.54% | 2.46% | 5.10% | 8.52% | 6.09% |
| Dividend Yield | 0.80% | 0.66% | 1.29% | 2.28% | 3.69% | 2.81% |
| Payout Ratio | 33.19% | 48.18% | 166.48% | 54.29% | 61.17% | 92.22% |
| Buyback Yield / Dilution | -0.99% | -1.57% | -11.85% | -0.95% | 1.35% | -1.90% |
| Total Shareholder Return | -0.19% | -0.91% | -10.56% | 1.33% | 5.04% | 0.91% |