NASDAQ : QRVO
Qorvo, Inc. — Financial statements
Technology · Semiconductors · United States
Last price 114.17 USD (At close: Oct 2, 2026) · Market cap 10.07B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Qorvo, Inc. (QRVO) reported revenue of 3.64B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 3.64B | 3.68B | 3.72B | 3.77B | 3.57B | 4.65B |
| Cost of Revenue | 1.88B | 1.98B | 2.16B | 2.28B | 2.23B | 2.36B |
| Gross Profit | 1.77B | 1.70B | 1.56B | 1.49B | 1.34B | 2.29B |
| Selling, General & Admin | 362.91M | 380.67M | 403.62M | 389.14M | 358.79M | 349.72M |
| Research & Development | 719.30M | 726.12M | 747.71M | 682.25M | 649.84M | 623.64M |
| Other Operating Expenses | 46.23M | 41.37M | 21.38M | 21.76M | 25.24M | 14.35M |
| Operating Expenses | 1.13B | 1.15B | 1.17B | 1.09B | 1.03B | 987.70M |
| Operating Income | 640.41M | 551.28M | 388.86M | 395.34M | 309.67M | 1.30B |
| Interest Expense | -70.20M | -73.13M | -78.33M | -69.25M | -68.46M | -63.33M |
| Interest & Investment Income | 42.50M | 43.00M | 47.10M | 38.30M | 21.10M | 2.70M |
| Earnings From Equity Investments | 15.90M | 15.10M | 500.00K | 12.00M | ||
| Currency Exchange Gain (Loss) | 1.00M | 1.00M | -300.00K | |||
| Other Non Operating Income (Expenses) | 14.90M | 15.98M | 1.30M | 11.00M | -11.18M | 3.64M |
| EBT Excluding Unusual Items | 644.52M | 553.23M | 359.13M | 375.40M | 251.13M | 1.26B |
| Merger & Restructuring Charges | -95.04M | -72.58M | -293.83M | -82.23M | -114.09M | -28.00M |
| Impairment of Goodwill | -36.52M | -36.52M | -221.41M | -12.41M | -48.00M | |
| Asset Writedown | -45.85M | -45.85M | ||||
| Other Unusual Items | 600.00K | 1.80M | ||||
| Pretax Income | 467.11M | 398.27M | 65.90M | 73.56M | 124.63M | 1.18B |
| Income Tax Expense | 67.92M | 59.28M | 10.28M | 143.88M | 21.48M | 147.73M |
| Net Income | 399.20M | 338.99M | 55.62M | -70.32M | 103.15M | 1.03B |
| Net Income to Common | 399.20M | 338.99M | 55.62M | -70.32M | 103.15M | 1.03B |
| Shares Outstanding (Basic) | 91.37M | 92.59M | 94.59M | 97.56M | 102.21M | 110.20M |
| Shares Outstanding (Diluted) | 92.44M | 93.55M | 95.45M | 97.56M | 103.02M | 111.55M |
| EPS (Basic) | 4.37 | 3.66 | 0.59 | -0.72 | 1.01 | 9.38 |
| EPS (Diluted) | 4.32 | 3.62 | 0.58 | -0.72 | 1.00 | 9.26 |
| Free Cash Flow | 649.51M | 679.56M | 484.60M | 705.96M | 684.28M | 835.78M |
| Free Cash Flow Per Share | 7.03 | 7.26 | 5.08 | 7.24 | 6.64 | 7.49 |
| Gross Margin | 48.54% | 46.20% | 41.99% | 39.49% | 37.64% | 49.29% |
| Operating Margin | 17.57% | 14.99% | 10.46% | 10.49% | 8.68% | 28.03% |
| Profit Margin | 10.95% | 9.21% | 1.49% | -1.87% | 2.89% | 22.24% |
| Free Cash Flow Margin | 17.82% | 18.47% | 13.03% | 18.73% | 19.17% | 17.99% |
| EBITDA | 885.48M | 813.67M | 685.69M | 716.28M | 648.52M | 1.66B |
| EBITDA Margin | 24.30% | 22.12% | 18.44% | 19.00% | 18.17% | 35.81% |
| D&A For EBITDA | 245.07M | 262.39M | 296.84M | 320.93M | 338.85M | 361.42M |
| EBIT | 640.41M | 551.28M | 388.86M | 395.34M | 309.67M | 1.30B |
| EBIT Margin | 17.57% | 14.99% | 10.46% | 10.49% | 8.68% | 28.03% |
| Effective Tax Rate | 14.54% | 14.89% | 15.61% | 195.60% | 17.23% | 12.51% |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.33B | 1.22B | 1.02B | 1.03B | 808.76M | 972.59M |
| Short-Term Investments | 1.09M | 2.91M | ||||
| Cash & Short-Term Investments | 1.33B | 1.22B | 1.02B | 1.03B | 809.85M | 975.50M |
| Accounts Receivable | 379.55M | 382.51M | 386.72M | 412.96M | 304.52M | 568.85M |
| Other Receivables | 16.38M | 16.17M | 11.02M | 14.43M | 26.54M | 32.15M |
| Receivables | 395.93M | 398.68M | 397.74M | 427.39M | 331.05M | 601.00M |
| Inventory | 592.49M | 553.72M | 640.99M | 710.55M | 796.60M | 755.75M |
| Prepaid Expenses | 38.86M | 36.72M | 32.81M | 40.56M | 46.68M | 49.84M |
| Other Current Assets | 80.50M | 98.18M | 74.56M | 238.27M | 45.61M | 67.78M |
| Total Current Assets | 2.44B | 2.31B | 2.17B | 2.45B | 2.03B | 2.45B |
| Property, Plant & Equipment | 680.31M | 762.79M | 860.41M | 932.27M | 1.23B | 1.33B |
| Long-Term Investments | 14.76M | 16.30M | 23.43M | 23.25M | 20.41M | 31.09M |
| Goodwill | 2.35B | 2.35B | 2.39B | 2.53B | 2.76B | 2.78B |
| Other Intangible Assets | 106.29M | 121.51M | 273.48M | 509.38M | 537.70M | 674.79M |
| Long-Term Deferred Tax Assets | 130.79M | 101.44M | 25.40M | 38.06M | 36.82M | |
| Other Long-Term Assets | 348.15M | 134.67M | 117.36M | 83.69M | 71.83M | 213.60M |
| Total Assets | 5.94B | 5.83B | 5.93B | 6.55B | 6.69B | 7.51B |
| Accounts Payable | 253.23M | 242.87M | 260.66M | 252.99M | 210.70M | 327.92M |
| Accrued Expenses | 213.59M | 248.16M | 287.98M | 336.77M | 222.46M | 240.19M |
| Current Portion of Long-Term Debt | 438.74M | 310.00K | 791.00K | |||
| Current Portion of Leases | 16.47M | 16.56M | 15.60M | 19.36M | 17.39M | |
| Current Income Taxes Payable | 64.40M | 54.70M | 59.90M | 63.60M | 87.80M | |
| Other Current Liabilities | 220.86M | 140.86M | 163.28M | 126.09M | 39.33M | 1.04M |
| Total Current Liabilities | 687.69M | 712.76M | 783.18M | 1.23B | 555.76M | 675.13M |
| Long-Term Debt | 1.55B | 1.55B | 1.55B | 1.55B | 2.05B | 2.04B |
| Long-Term Leases | 40.62M | 45.28M | 50.58M | 70.82M | 64.09M | |
| Long-Term Deferred Tax Liabilities | 1.29M | 10.81M | 34.21M | 14.65M | 84.63M | |
| Other Long-Term Liabilities | 230.71M | 177.47M | 152.33M | 134.12M | 101.47M | 87.49M |
| Total Liabilities | 2.47B | 2.48B | 2.54B | 3.00B | 2.79B | 2.96B |
| Common Stock | 3.34B | 3.30B | 3.43B | 3.65B | 3.82B | 4.04B |
| Retained Earnings | 124.59M | 38.79M | -33.98M | -89.60M | 84.50M | 512.14M |
| Comprehensive Income & Other | 2.66M | 4.06M | -5.01M | -5.10M | -3.17M | 5.23M |
| Shareholders' Equity | 3.47B | 3.34B | 3.39B | 3.56B | 3.90B | 4.55B |
| Total Liabilities & Equity | 5.94B | 5.83B | 5.93B | 6.55B | 6.69B | 7.51B |
| Total Debt | 1.55B | 1.61B | 1.61B | 2.05B | 2.14B | 2.13B |
| Net Cash (Debt) | -220.19M | -387.22M | -589.88M | -1.02B | -1.33B | -1.15B |
| Net Cash Per Share | -2.38 | -4.14 | -6.18 | -10.51 | -12.88 | -10.32 |
| Filing Date Shares Outstanding | 88.22M | 88.01M | 93.03M | 95.63M | 98.74M | 106.03M |
| Total Common Shares Outstanding | 88.22M | 87.74M | 92.92M | 95.80M | 98.65M | 106.30M |
| Working Capital | 1.75B | 1.59B | 1.38B | 1.22B | 1.47B | 1.77B |
| Book Value Per Share | 39.36 | 38.12 | 36.51 | 37.12 | 39.56 | 42.83 |
| Tangible Book Value | 1.01B | 869.57M | 729.09M | 512.39M | 604.28M | 1.10B |
| Tangible Book Value Per Share | 11.48 | 9.91 | 7.85 | 5.35 | 6.13 | 10.37 |
| Land | 20.61M | 23.04M | 23.04M | 25.84M | 25.84M | |
| Buildings | 338.86M | 366.06M | 354.04M | 463.89M | 432.31M | |
| Machinery | 2.03B | 2.16B | 2.09B | 2.43B | 2.40B | |
| Construction In Progress | 104.69M | 98.22M | 86.23M | 130.09M | 128.32M |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 399.20M | 338.99M | 55.62M | -70.32M | 103.15M | 1.03B |
| Depreciation & Amortization | 245.07M | 262.39M | 296.84M | 320.93M | 338.85M | 361.42M |
| Asset Writedown & Restructuring Costs | 82.37M | 82.37M | 192.57M | 221.41M | 239.51M | 48.00M |
| Stock-Based Compensation | 128.01M | 136.07M | 136.35M | 120.83M | 105.58M | 83.51M |
| Other Operating Activities | -53.34M | -52.80M | -52.77M | 97.93M | -40.85M | 46.77M |
| Change in Accounts Receivable | -52.11M | 3.15M | 26.81M | -105.78M | 264.78M | -107.90M |
| Change in Inventory | 42.89M | 86.62M | 18.19M | 92.91M | -81.45M | -236.20M |
| Change in Accounts Payable | -15.01M | -4.89M | 7.18M | 89.14M | -115.50M | 33.95M |
| Change in Income Taxes | 19.81M | 942.00K | -4.10M | 8.68M | -33.24M | -3.14M |
| Change in Other Net Operating Assets | -31.70M | -44.21M | -54.46M | 57.45M | 62.39M | -210.52M |
| Operating Cash Flow | 765.18M | 808.63M | 622.20M | 833.19M | 843.23M | 1.05B |
| Capital Expenditures | -115.67M | -129.07M | -137.60M | -127.23M | -158.95M | -213.47M |
| Sale of Property, Plant & Equipment | 51.71M | 51.71M | 7.06M | 49.55M | 1.85M | 898.00K |
| Cash Acquisitions | -791.00K | -82.97M | -95.00K | -389.14M | ||
| Divestitures | 21.47M | 21.47M | 173.12M | 20.00M | ||
| Other Investing Activities | 9.37M | 12.29M | -5.23M | 4.19M | 3.79M | 5.75M |
| Investing Cash Flow | -33.12M | -43.60M | 36.55M | -136.47M | -153.41M | -595.96M |
| Long-Term Debt Issued | 499.07M | |||||
| Long-Term Debt Repaid | -439.12M | -58.31M | -197.50M | |||
| Net Debt Issued (Repaid) | -439.12M | -58.31M | 301.57M | |||
| Issuance of Common Stock | 34.39M | 35.49M | 35.74M | 36.92M | 32.51M | 38.30M |
| Repurchase of Common Stock | -517.65M | -564.57M | -387.59M | -427.17M | -885.17M | -1.21B |
| Other Financing Activities | -82.80M | -37.45M | 106.61M | -11.02M | -694.00K | -9.71M |
| Financing Cash Flow | -566.06M | -566.53M | -684.36M | -459.57M | -853.35M | -875.51M |
| Foreign Exchange Rate Adjustments | -2.54M | -666.00K | -2.48M | 3.17M | -331.00K | -3.28M |
| Net Cash Flow | 163.47M | 197.84M | -28.08M | 240.31M | -163.86M | -425.50M |
| Free Cash Flow | 649.51M | 679.56M | 484.60M | 705.96M | 684.28M | 835.78M |
| Free Cash Flow Margin | 17.82% | 18.47% | 13.03% | 18.73% | 19.17% | 17.99% |
| Free Cash Flow Per Share | 7.03 | 7.26 | 5.08 | 7.24 | 6.64 | 7.49 |
| Levered Free Cash Flow | 476.14M | 556.70M | 751.21M | 561.17M | 569.81M | 608.95M |
| Unlevered Free Cash Flow | 520.02M | 602.41M | 800.17M | 604.44M | 612.60M | 648.53M |
| Cash Interest Paid | 73.17M | 73.17M | 76.34M | 55.27M | 66.11M | 59.39M |
| Cash Income Tax Paid | 55.93M | 55.93M | 89.21M | 104.65M | 105.79M | 125.32M |
| Change in Working Capital | -36.12M | 41.62M | -6.39M | 142.40M | 96.98M | -523.80M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 10.07B | 7.17B | 6.68B | 11.09B | 10.15B | 13.18B |
| Enterprise Value | 10.29B | 7.40B | 7.46B | 12.05B | 11.28B | 14.23B |
| Last Close Price | 114.65 | 77.35 | 71.50 | 114.83 | 101.57 | 121.51 |
| PE Ratio | 26.44 | 21.15 | 120.07 | 98.36 | 12.75 | |
| Forward PE | 14.74 | 12.66 | 13.91 | 16.05 | 33.57 | 9.43 |
| PS Ratio | 2.78 | 1.95 | 1.80 | 2.94 | 2.84 | 2.84 |
| PB Ratio | 2.90 | 2.14 | 1.97 | 3.12 | 2.60 | 2.89 |
| P/TBV Ratio | 9.99 | 8.25 | 9.16 | 21.64 | 16.79 | 11.95 |
| P/FCF Ratio | 15.57 | 10.55 | 13.78 | 15.70 | 14.83 | 15.76 |
| P/OCF Ratio | 13.22 | 8.87 | 10.73 | 13.31 | 12.03 | 12.56 |
| PEG Ratio | 1.22 | 1.51 | 0.67 | 3.06 | 0.67 | |
| EV/Sales Ratio | 2.84 | 2.01 | 2.00 | 3.19 | 3.16 | 3.06 |
| EV/EBITDA Ratio | 11.67 | 9.10 | 10.88 | 16.82 | 17.39 | 8.56 |
| EV/EBIT Ratio | 16.14 | 13.43 | 19.18 | 30.47 | 36.41 | 10.93 |
| EV/FCF Ratio | 15.91 | 10.89 | 15.39 | 17.06 | 16.48 | 17.03 |
| Debt / Equity Ratio | 0.45 | 0.48 | 0.47 | 0.58 | 0.55 | 0.47 |
| Debt / EBITDA Ratio | 1.69 | 1.90 | 2.25 | 2.74 | 3.13 | 1.25 |
| Debt / FCF Ratio | 2.38 | 2.36 | 3.33 | 2.91 | 3.12 | 2.54 |
| Net Debt / Equity Ratio | 0.06 | 0.12 | 0.17 | 0.29 | 0.34 | 0.25 |
| Net Debt / EBITDA Ratio | 0.25 | 0.48 | 0.86 | 1.43 | 2.05 | 0.69 |
| Net Debt / FCF Ratio | 0.34 | 0.57 | 1.22 | 1.45 | 1.94 | 1.38 |
| Asset Turnover | 0.61 | 0.63 | 0.60 | 0.57 | 0.50 | 0.63 |
| Inventory Turnover | 3.05 | 3.31 | 3.19 | 3.03 | 2.87 | 3.73 |
| Quick Ratio | 2.51 | 2.27 | 1.81 | 1.18 | 2.05 | 2.33 |
| Current Ratio | 3.54 | 3.24 | 2.77 | 1.99 | 3.65 | 3.63 |
| Return on Equity (ROE) | 11.56% | 10.06% | 1.60% | -1.88% | 2.44% | 22.51% |
| Return on Assets (ROA) | 6.71% | 5.86% | 3.89% | 3.73% | 2.73% | 11.05% |
| Return on Invested Capital (ROIC) | 14.74% | 12.17% | 7.66% | -7.70% | 4.69% | 21.20% |
| Return on Capital Employed (ROCE) | 12.20% | 10.80% | 7.60% | 7.40% | 5.00% | 19.10% |
| Earnings Yield | 3.95% | 4.73% | 0.83% | -0.63% | 1.02% | 7.84% |
| FCF Yield | 6.42% | 9.48% | 7.26% | 6.37% | 6.74% | 6.34% |
| Buyback Yield / Dilution | 2.45% | 1.99% | 2.16% | 5.30% | 7.64% | 3.85% |