AVGO · Nasdaq · United States · Semiconductors & Related Devices

Broadcom Inc.

Palo Alto, CA · Fiscal year ends in November · Figures in USD

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In shortBroadcom Inc. is profitable, generates cash and carries moderate debt, with revenue growing (+23.9% last year).

Financial health

Strong

Built from five areas over the last five annual reports. Tap an area to see the figures behind it.

How is this score calculated? →

Profitability98

Operating marginShare of each sale left after running the business, before interest and tax.	39.9%	100/100
Net marginShare of each sale left as profit after every cost, interest and tax.	36.2%	100/100
Return on equityProfit earned on the money shareholders put in. Above 15% is strong.	31.0%	100/100
Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.	13.7%	92/100

Weight in the score: 25%

Balance sheet61

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.	1.71×	75/100
Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.	0.80×	67/100
Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.	1.88×	61/100
Interest coverageHow many times operating profit covers interest. Below 2 is risky.	7.94×	61/100
Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.	2.64	39/100

Weight in the score: 25%

Cash generation100

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.	42.1%	100/100
Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.	1.16×	100/100
Years with positive free cash flow (last 5)	5 of 5	100/100

Weight in the score: 20%

Stability74
Profitable years (last 5) 5 of 5 100/100
Years of revenue decline (last 5) 0 of 5 100/100
Revenue growth volatility 13.6% 61/100
Operating margin volatility 8.1% 35/100
Weight in the score: 20%
Growth100
Revenue growth, 3-year average 24.4% 100/100
EPS growth, 3-year average 21.6% 100/100
Weight in the score: 10%

Profitable years (last 5)	5 of 5	100/100
Years of revenue decline (last 5)	0 of 5	100/100
Revenue growth volatility	13.6%	61/100
Operating margin volatility	8.1%	35/100

Revenue growth, 3-year average	24.4%	100/100
EPS growth, 3-year average	21.6%	100/100

Fiscal year 2025 · change vs prior year

Revenue: $63.9B; ▲ 23.9%
Net income: $23.1B; ▲ 292.3%
Free cash flow: $26.9B; ▲ 38.6%
Operating margin: 39.9%; +13.8 pts
Cash & investments: $16.2B; –
Total debt: $65.1B; ▼ 3.6%
Diluted EPS: $4.77; ▲ 287.8%
Return on equity: 31.0%; –

Trends

Annual figures as reported. Hover a bar or point for the exact value.

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Revenue and net income

RevenueNet income

Margins

GrossOperatingNet

Free cash flow

Cash versus debt

Cash & investmentsTotal debt

Statements

The last 5 fiscal years from the company's annual reports.

USD millions; negative values in parentheses.

Fiscal year	FY21	FY22	FY23	FY24	FY25
Revenue	27,450	33,203	35,819	51,574	63,887
Cost of revenue	10,606	11,108	11,129	19,065	20,593
Gross profit	16,844	22,095	24,690	32,509	43,294
Research & development	4,854	4,919	5,253	9,310	10,977
Selling, general & admin	1,347	1,382	1,592	4,959	4,211
Operating income	8,519	14,225	16,207	13,463	25,484
Interest expense	1,885	1,737	1,622	3,953	3,210
Pre-tax income	6,765	12,434	15,097	9,916	22,729
Income tax	29	939	1,015	3,748	(397)
Net income	6,437	11,495	14,082	5,895	23,126
Diluted EPS	$15.00	$2.65	$3.30	$1.23	$4.77
Diluted shares (millions)	429	4,232	4,272	4,778	4,853

5 older years available with the 10-year history. Essential plan, from €8.25/month →

🔒 Export to Excel · Investor plan

Risk checks

Altman Z'' score

2.64 Safe zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

8/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: passed
Positive operating cash flow: passed
Return on assets improved: passed
Cash flow exceeds net income: passed
Long-term debt ratio fell: passed
Current ratio improved: passed
No share dilution: failed
Gross margin improved: passed
Asset turnover improved: passed

Sources

10-QPeriod ending Aug 2, 2026Filed Sep 10, 2026Open the report ↗
10-QPeriod ending May 3, 2026Filed Jun 9, 2026Open the report ↗
10-QPeriod ending Feb 1, 2026Filed Mar 11, 2026Open the report ↗
10-KPeriod ending Nov 2, 2025Filed Dec 18, 2025Open the report ↗
10-QPeriod ending Aug 3, 2025Filed Sep 10, 2025Open the report ↗
10-QPeriod ending May 4, 2025Filed Jun 11, 2025Open the report ↗
10-QPeriod ending Feb 2, 2025Filed Mar 12, 2025Open the report ↗
10-KPeriod ending Nov 3, 2024Filed Dec 20, 2024Open the report ↗

All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works

Latest annual report: Aug 2, 2026 · Data updated Sep 10, 2026

Reading the annual reports…

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Operating marginShare of each sale left after running the business, before interest and tax.

39.9%

100/100

Net marginShare of each sale left as profit after every cost, interest and tax.

36.2%

100/100

Return on equityProfit earned on the money shareholders put in. Above 15% is strong.

31.0%

100/100

Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.

13.7%

92/100

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.

1.71×

75/100

Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.

0.80×

67/100

Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.

1.88×

61/100

Interest coverageHow many times operating profit covers interest. Below 2 is risky.

7.94×

61/100

Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.

2.64

39/100

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.

42.1%

100/100

Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.

1.16×

100/100

Years with positive free cash flow (last 5)

5 of 5

100/100

Profitable years (last 5)	5 of 5	100/100
Years of revenue decline (last 5)	0 of 5	100/100
Revenue growth volatility	13.6%	61/100
Operating margin volatility	8.1%	35/100

Profitable years (last 5)

5 of 5

100/100

Years of revenue decline (last 5)

0 of 5

100/100

Revenue growth volatility

13.6%

61/100

Operating margin volatility

8.1%

35/100

Revenue growth, 3-year average	24.4%	100/100
EPS growth, 3-year average	21.6%	100/100

Revenue growth, 3-year average

24.4%

100/100

EPS growth, 3-year average

21.6%

100/100

Trends

Annual figures as reported. Hover a bar or point for the exact value.

Revenue and net income

RevenueNet income

Margins

GrossOperatingNet

Free cash flow

Cash versus debt

Cash & investmentsTotal debt

Statements

The last 5 fiscal years from the company's annual reports.

USD millions; negative values in parentheses.

Fiscal year	FY21	FY22	FY23	FY24	FY25
Revenue	27,450	33,203	35,819	51,574	63,887
Cost of revenue	10,606	11,108	11,129	19,065	20,593
Gross profit	16,844	22,095	24,690	32,509	43,294
Research & development	4,854	4,919	5,253	9,310	10,977
Selling, general & admin	1,347	1,382	1,592	4,959	4,211
Operating income	8,519	14,225	16,207	13,463	25,484
Interest expense	1,885	1,737	1,622	3,953	3,210
Pre-tax income	6,765	12,434	15,097	9,916	22,729
Income tax	29	939	1,015	3,748	(397)
Net income	6,437	11,495	14,082	5,895	23,126
Diluted EPS	$15.00	$2.65	$3.30	$1.23	$4.77
Diluted shares (millions)	429	4,232	4,272	4,778	4,853

Risk checks

Altman Z'' score

2.64 Safe zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

8/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: passed
Positive operating cash flow: passed
Return on assets improved: passed
Cash flow exceeds net income: passed
Long-term debt ratio fell: passed
Current ratio improved: passed
No share dilution: failed
Gross margin improved: passed
Asset turnover improved: passed

Sources

10-QPeriod ending Aug 2, 2026Filed Sep 10, 2026Open the report ↗
10-QPeriod ending May 3, 2026Filed Jun 9, 2026Open the report ↗
10-QPeriod ending Feb 1, 2026Filed Mar 11, 2026Open the report ↗
10-KPeriod ending Nov 2, 2025Filed Dec 18, 2025Open the report ↗
10-QPeriod ending Aug 3, 2025Filed Sep 10, 2025Open the report ↗
10-QPeriod ending May 4, 2025Filed Jun 11, 2025Open the report ↗
10-QPeriod ending Feb 2, 2025Filed Mar 12, 2025Open the report ↗
10-KPeriod ending Nov 3, 2024Filed Dec 20, 2024Open the report ↗

All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works

Latest annual report: Aug 2, 2026 · Data updated Sep 10, 2026