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Broadcom Inc.

AVGO

Broadcom Inc. • NASDAQ
$403.37 ▲ 1.46% (+5.80)
Market Cap $1.90 T
52w High $403.37
52w Low $138.10
Dividend Yield 2.36%
P/E 103.43
Volume 13.24M
Outstanding Shares 4.70B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $15.952B ▲ $4.816B ▲ $4.14B ▼ 25.953% ▼ $0.88 ▼ $8.028B ▼
Q2-2025 $15.004B ▲ $4.368B ▲ $4.965B ▼ 33.091% ▼ $1.05 ▼ $10.194B ▲
Q1-2025 $14.916B ▲ $3.885B ▼ $5.503B ▲ 36.893% ▲ $1.17 ▲ $6.26B ▼
Q4-2024 $14.054B ▲ $4.375B ▼ $4.324B ▲ 30.767% ▲ $0.92 ▲ $7.29B ▲
Q3-2024 $13.072B $4.568B $-1.875B -14.344% $-0.4 $6.394B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $10.718B ▲ $165.621B ▲ $92.344B ▼ $73.277B ▲
Q2-2025 $9.472B ▲ $164.63B ▼ $95.044B ▼ $69.586B ▼
Q1-2025 $9.307B ▼ $165.358B ▼ $95.569B ▼ $69.789B ▲
Q4-2024 $9.348B ▼ $165.645B ▼ $97.967B ▼ $67.678B ▲
Q3-2024 $9.952B $167.966B $102.315B $65.651B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $4.14B ▼ $7.166B ▲ $94M ▲ $-6.014B ▲ $1.246B ▲ $7.024B ▲
Q2-2025 $4.965B ▼ $6.555B ▲ $-133M ▲ $-6.257B ▼ $165M ▲ $6.411B ▲
Q1-2025 $5.503B ▲ $6.113B ▲ $-174M ▼ $-5.98B ▲ $-41M ▲ $6.013B ▲
Q4-2024 $4.324B ▲ $5.604B ▲ $-132M ▼ $-6.076B ▲ $-604M ▼ $5.482B ▲
Q3-2024 $-1.875B $4.963B $3.245B $-8.065B $143M $4.791B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Infrastructure Software
Infrastructure Software
 $5.82Bn ▲$6.70Bn ▲$6.60Bn ▼$6.79Bn ▲
Semiconductor Solutions
Semiconductor Solutions
 $8.23Bn ▲$8.21Bn ▼$8.41Bn ▲$9.17Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Broadcom’s revenue has climbed strongly over the past several years, with especially sharp growth in the most recent year as VMware was added. Gross profits have scaled with that growth, showing that the core businesses remain very profitable. However, operating income and net income did not rise in line with sales in the latest year; in fact, reported earnings fell sharply. That gap likely reflects acquisition‑related costs, higher amortization, and integration spending tied to VMware, rather than a collapse in the underlying business. Overall, this is a company with robust revenue momentum and high underlying profitability, but with some near‑term accounting and integration noise flowing through the income statement. The recent stock split only changes the share count optics, not the underlying economics.

Balance Sheet

Balance Sheet The balance sheet has transformed with the VMware acquisition. Total assets and shareholder equity have expanded dramatically, reflecting the addition of a large software platform to Broadcom’s hardware‑centric base. Debt has also increased meaningfully, so the company is now more leveraged than in prior years, though it still retains a sizeable equity cushion. Cash on hand is lower than before, but remains material given the strength of ongoing cash generation. In simple terms, Broadcom has traded a cleaner, lighter balance sheet for a larger, more diversified one with more debt, more assets, and a much bigger equity base.

Cash Flow

Cash Flow Broadcom’s cash flow profile is a key strength. Operating cash flow has been consistently large and has grown steadily over time, closely tracking the company’s profit expansion. Free cash flow remains very strong because the business does not require heavy capital spending relative to the cash it generates. This capital‑light, high‑cash‑conversion model gives Broadcom flexibility to service debt, invest in innovation, and return capital to shareholders when it chooses. Even as accounting earnings jumped around with acquisitions, cash generation has stayed resilient and healthy.

Competitive Edge

Competitive Edge Broadcom holds a powerful position in high‑end networking chips, wireless connectivity, and custom silicon for large cloud and AI customers. Its products sit at the heart of modern data centers and communication systems, making them mission‑critical for customers. Deep technical expertise, a large patent portfolio, and long‑term co‑development relationships create high switching costs and a durable moat. The addition of VMware gives Broadcom a strong foothold in infrastructure software and private cloud, turning it into a hardware‑plus‑software platform provider rather than just a chip maker. Scale, customer stickiness, and breadth of offering together underpin a very strong competitive position, especially in AI and cloud infrastructure.

Innovation and R&D

Innovation and R&D Broadcom’s innovation efforts are tightly focused on high‑value areas: advanced data‑center networking, custom AI accelerators, cutting‑edge connectivity standards, and now AI‑enabled cloud software via VMware. It leads in next‑generation switches and network interfaces for AI clusters, co‑designs custom AI chips with major cloud providers, and continues to push Wi‑Fi and PCIe standards. On the software side, it is turning VMware Cloud Foundation into a core private‑cloud and AI platform, integrating it closely with its hardware. Rather than spreading itself thin, Broadcom concentrates R&D where it can be a top player, combining deep engineering, customer co‑development, and a strong IP base to maintain its edge.

Summary

Broadcom today is a scaled, highly profitable infrastructure company anchored in semiconductors and strengthened by a major software platform in VMware. Revenue and gross profit trends are very strong, though recent reported earnings are muddied by acquisition and integration effects. The balance sheet is now larger and more leveraged, but supported by sizable equity and very strong free cash flow. Competitive advantages stem from technical leadership, custom silicon partnerships with hyperscalers, high switching costs, and an increasingly integrated hardware‑software stack. Innovation is clearly aligned with long‑term themes in AI, cloud, and connectivity. Overall, Broadcom appears financially solid, strategically well‑positioned, and in the middle of a complex but potentially rewarding integration and expansion phase.

NEWS

November 19, 2025 · 9:00 AM UTC

Broadcom Introduces the World's First Quantum-Safe Gen 8 128G SAN Switch Portfolio

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November 12, 2025 · 3:01 AM UTC

Broadcom Advances Open Ecosystem for VMware Cloud Foundation

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November 11, 2025 · 8:00 AM UTC

Broadcom Inc. to Announce Fourth Quarter and Fiscal Year 2025 Financial Results on Thursday, December 11, 2025

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October 14, 2025 · 3:01 AM UTC

Broadcom Introduces Industry's First Wi-Fi 8 Silicon Ecosystem Powering the AI Era

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October 13, 2025 · 9:00 AM UTC

OpenAI and Broadcom announce strategic collaboration to deploy 10 gigawatts of OpenAI-designed AI accelerators

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