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Broadcom Inc Financials

AVGO
Source SEC Filings (10-K/10-Q) Updated Mar 11, 2026 Currency USD FYE November

This page shows Broadcom Inc (AVGO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 78 / 100
Financial Profile 78/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
100

Broadcom Inc has an operating margin of 39.9%, meaning the company retains $40 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 26.1% the prior year.

Growth
73

Broadcom Inc's revenue surged 23.9% year-over-year to $63.9B, reflecting rapid business expansion. This strong growth earns a score of 73/100.

Leverage
86

Broadcom Inc carries a low D/E ratio of 0.80, meaning only $0.80 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
34

Broadcom Inc's current ratio of 1.90 indicates adequate short-term liquidity, earning a score of 34/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
100

Broadcom Inc converts 42.1% of revenue into free cash flow ($26.9B). This strong cash generation earns a score of 100/100.

Returns
75

Broadcom Inc earns a strong 28.9% return on equity (ROE), meaning it generates $29 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 75/100. This is up from 8.5% the prior year.

Altman Z-Score Safe
10.96

Broadcom Inc scores 10.96, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.5T) relative to total liabilities ($90.0B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Strong
7/9

Broadcom Inc passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
1.19x

For every $1 of reported earnings, Broadcom Inc generates $1.19 in operating cash flow ($27.5B OCF vs $23.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
7.9x

Broadcom Inc earns $7.9 in operating income for every $1 of interest expense ($25.5B vs $3.2B). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$63.9B
YoY+23.9%
5Y CAGR+21.7%

Broadcom Inc generated $63.9B in revenue in fiscal year 2025. This represents an increase of 23.9% from the prior year.

EBITDA
$34.1B
YoY+46.1%
5Y CAGR+49.3%

Broadcom Inc's EBITDA was $34.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 46.1% from the prior year.

Net Income
$23.1B
YoY+292.3%
5Y CAGR+50.9%

Broadcom Inc reported $23.1B in net income in fiscal year 2025. This represents an increase of 292.3% from the prior year.

EPS (Diluted)
$4.77
YoY+287.8%

Broadcom Inc earned $4.77 per diluted share (EPS) in fiscal year 2025. This represents an increase of 287.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$26.9B
YoY+38.6%
5Y CAGR+18.3%

Broadcom Inc generated $26.9B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 38.6% from the prior year.

Cash & Debt
$14.2B
YoY+52.3%
5Y CAGR+8.2%

Broadcom Inc held $14.2B in cash against $63.8B in long-term debt as of fiscal year 2025.

Dividends Per Share
$2.36
YoY+12.1%

Broadcom Inc paid $2.36 per share in dividends in fiscal year 2025. This represents an increase of 12.1% from the prior year.

Shares Outstanding
4.74B
YoY+1.2%

Broadcom Inc had 4.74B shares outstanding in fiscal year 2025. This represents an increase of 1.2% from the prior year.

Margins & Returns

Gross Margin
67.8%
YoY+4.7pp
5Y CAGR+11.2pp

Broadcom Inc's gross margin was 67.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.7 percentage points from the prior year.

Operating Margin
39.9%
YoY+13.8pp
5Y CAGR+23.1pp

Broadcom Inc's operating margin was 39.9% in fiscal year 2025, reflecting core business profitability. This is up 13.8 percentage points from the prior year.

Net Margin
36.2%
YoY+24.8pp
5Y CAGR+23.8pp

Broadcom Inc's net profit margin was 36.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 24.8 percentage points from the prior year.

Return on Equity
28.9%
YoY+20.5pp
5Y CAGR+16.6pp

Broadcom Inc's ROE was 28.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 20.5 percentage points from the prior year.

Capital Allocation

R&D Spending
$11.0B
YoY+17.9%
5Y CAGR+17.2%

Broadcom Inc invested $11.0B in research and development in fiscal year 2025. This represents an increase of 17.9% from the prior year.

Share Buybacks
$2.5B
YoY-65.9%

Broadcom Inc spent $2.5B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 65.9% from the prior year.

Capital Expenditures
$623.0M
YoY+13.7%
5Y CAGR+6.1%

Broadcom Inc invested $623.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 13.7% from the prior year.

AVGO Income Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Revenue $14.1B-26.8% $19.3B+41.8% $13.6B-14.6% $16.0B+6.3% $15.0B+0.6% $14.9B+34.4% $11.1B-15.1% $13.1B
Cost of Revenue $6.2B0.0% $6.2B+40.4% $4.4B-16.5% $5.2B+9.2% $4.8B+0.8% $4.8B-2.0% $4.9B+3.2% $4.7B
Gross Profit $13.2B0.0% $13.2B+42.4% $9.2B-13.7% $10.7B+5.0% $10.2B+0.5% $10.1B+62.8% $6.2B-25.4% $8.4B
R&D Expenses $3.0B0.0% $3.0B+30.7% $2.3B-25.6% $3.0B+13.3% $2.7B+19.5% $2.3B-1.6% $2.3B-2.7% $2.4B
SG&A Expenses $1.0B0.0% $1.0B-1.7% $1.0B-3.3% $1.1B-1.0% $1.1B+14.1% $949.0M-41.9% $1.6B+48.5% $1.1B
Operating Income $8.6B0.0% $8.6B+64.5% $5.2B-11.6% $5.9B+1.0% $5.8B-6.9% $6.3B+1291.1% $450.0M-88.1% $3.8B
Interest Expense $801.0M0.0% $801.0M-3.8% $833.0M+3.2% $807.0M+4.9% $769.0M-11.9% $873.0M-9.9% $969.0M-8.9% $1.1B
Income Tax $846.0M0.0% $846.0M+133.7% -$2.5B-319.0% $1.1B+854.2% $120.0M+1023.1% -$13.0M+96.4% -$361.0M-108.5% $4.2B
Net Income $7.3B0.0% $7.3B+10.1% $6.7B+61.2% $4.1B-16.6% $5.0B-9.8% $5.5B+3669.2% $146.0M+107.8% -$1.9B
EPS (Diluted) $1.500.0% $1.50 N/A $0.85-17.5% $1.03-9.6% $1.14 N/A $-0.40

AVGO Balance Sheet

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Total Assets $169.9B0.0% $169.9B-0.7% $171.1B+3.3% $165.6B+0.6% $164.6B-0.4% $165.4B-0.2% $165.6B-1.4% $168.0B
Current Assets $32.1B0.0% $32.1B+1.5% $31.6B+26.3% $25.0B+12.7% $22.2B+5.7% $21.0B+7.1% $19.6B-1.8% $19.9B
Cash & Equivalents $14.2B0.0% $14.2B-12.4% $16.2B+50.9% $10.7B+13.2% $9.5B+1.8% $9.3B-0.4% $9.3B-6.1% $10.0B
Inventory $3.0B0.0% $3.0B+30.5% $2.3B+4.1% $2.2B+8.1% $2.0B+5.7% $1.9B+8.4% $1.8B-7.1% $1.9B
Accounts Receivable $8.5B0.0% $8.5B+18.4% $7.1B+10.0% $6.5B+16.7% $5.6B+12.3% $5.0B+12.2% $4.4B-5.3% $4.7B
Goodwill $97.8B0.0% $97.8B0.0% $97.8B0.0% $97.8B0.0% $97.8B-0.1% $97.9B0.0% $97.9B0.0% $97.9B
Total Liabilities $90.0B0.0% $90.0B+0.3% $89.8B-2.8% $92.3B-2.8% $95.0B-0.5% $95.6B-2.4% $98.0B-4.2% $102.3B
Current Liabilities $16.9B0.0% $16.9B-8.9% $18.5B+10.8% $16.7B-18.9% $20.6B-1.5% $20.9B+25.2% $16.7B-13.1% $19.2B
Long-Term Debt $63.8B0.0% $63.8B+2.9% $62.0B-1.3% $62.8B+1.7% $61.8B+1.4% $60.9B-8.1% $66.3B-0.8% $66.8B
Total Equity $79.9B0.0% $79.9B-1.7% $81.3B+10.9% $73.3B+5.3% $69.6B-0.3% $69.8B+3.1% $67.7B+3.1% $65.7B
Retained Earnings $6.5B0.0% $6.5B-33.2% $9.8B+141.6% $4.0B+50.4% $2.7B-1.6% $2.7B $0+100.0% -$1.9B

AVGO Cash Flow Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Operating Cash Flow $8.3B0.0% $8.3B+7.2% $7.7B+7.5% $7.2B+9.3% $6.6B+7.2% $6.1B+9.1% $5.6B+12.9% $5.0B
Capital Expenditures $250.0M0.0% $250.0M+5.5% $237.0M+66.9% $142.0M-1.4% $144.0M+44.0% $100.0M-18.0% $122.0M-29.1% $172.0M
Free Cash Flow $8.0B0.0% $8.0B+7.3% $7.5B+6.3% $7.0B+9.6% $6.4B+6.6% $6.0B+9.7% $5.5B+14.4% $4.8B
Investing Cash Flow -$115.0M0.0% -$115.0M+68.7% -$367.0M-490.4% $94.0M+170.7% -$133.0M+23.6% -$174.0M-31.8% -$132.0M-104.1% $3.2B
Financing Cash Flow -$10.1B0.0% -$10.1B-441.0% -$1.9B+68.8% -$6.0B+3.9% -$6.3B-4.6% -$6.0B+1.6% -$6.1B+24.7% -$8.1B
Dividends Paid $3.1B0.0% $3.1B+10.3% $2.8B+0.4% $2.8B0.0% $2.8B+0.4% $2.8B+11.7% $2.5B+1.3% $2.5B
Share Buybacks $7.8B0.0% $7.8B $0 $0-100.0% $2.5B $0 $0 $0

AVGO Financial Ratios

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Gross Margin 93.1%+25.0pp 68.1%+0.3pp 67.8%+0.7pp 67.1%-0.9pp 68.0%-0.1pp 68.0%+11.9pp 56.1%-7.8pp 63.9%
Operating Margin 60.6%+16.3pp 44.3%+6.1pp 38.2%+1.3pp 36.9%-2.0pp 38.9%-3.1pp 42.0%+37.9pp 4.0%-24.9pp 29.0%
Net Margin 52.0%+14.0pp 38.1%-10.9pp 49.0%+23.0pp 25.9%-7.1pp 33.1%-3.8pp 36.9%+35.6pp 1.3%+15.7pp -14.3%
Return on Equity 9.2%0.0pp 9.2%+1.0pp 8.2%+2.6pp 5.7%-1.5pp 7.1%-0.7pp 7.9%+7.7pp 0.2%+3.1pp -2.9%
Return on Assets 4.3%0.0pp 4.3%+0.4pp 3.9%+1.4pp 2.5%-0.5pp 3.0%-0.3pp 3.3%+3.2pp 0.1%+1.2pp -1.1%
Current Ratio 1.900.0 1.90+0.2 1.71+0.2 1.50+0.4 1.08+0.1 1.00-0.2 1.17+0.1 1.04
Debt-to-Equity 0.800.0 0.80+0.0 0.76-0.1 0.86-0.0 0.89+0.0 0.87-0.1 0.98-0.0 1.02
FCF Margin 56.7%+15.2pp 41.5%-13.3pp 54.8%+10.8pp 44.0%+1.3pp 42.7%+2.4pp 40.3%-9.1pp 49.4%+12.7pp 36.6%

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Frequently Asked Questions

Broadcom Inc (AVGO) reported $63.9B in total revenue for fiscal year 2025. This represents a 23.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Broadcom Inc (AVGO) revenue grew by 23.9% year-over-year, from $51.6B to $63.9B in fiscal year 2025.

Yes, Broadcom Inc (AVGO) reported a net income of $23.1B in fiscal year 2025, with a net profit margin of 36.2%.

Broadcom Inc (AVGO) reported diluted earnings per share of $4.77 for fiscal year 2025. This represents a 287.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Broadcom Inc (AVGO) had EBITDA of $34.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Broadcom Inc (AVGO) had $14.2B in cash and equivalents against $63.8B in long-term debt.

Broadcom Inc (AVGO) had a gross margin of 67.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Broadcom Inc (AVGO) had an operating margin of 39.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Broadcom Inc (AVGO) had a net profit margin of 36.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Broadcom Inc (AVGO) paid $2.36 per share in dividends during fiscal year 2025.

Broadcom Inc (AVGO) has a return on equity of 28.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Broadcom Inc (AVGO) generated $26.9B in free cash flow during fiscal year 2025. This represents a 38.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Broadcom Inc (AVGO) generated $27.5B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Broadcom Inc (AVGO) had $169.9B in total assets as of fiscal year 2025, including both current and long-term assets.

Broadcom Inc (AVGO) invested $623.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Broadcom Inc (AVGO) invested $11.0B in research and development during fiscal year 2025.

Yes, Broadcom Inc (AVGO) spent $2.5B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Broadcom Inc (AVGO) had 4.74B shares outstanding as of fiscal year 2025.

Broadcom Inc (AVGO) had a current ratio of 1.90 as of fiscal year 2025, which is generally considered healthy.

Broadcom Inc (AVGO) had a debt-to-equity ratio of 0.80 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Broadcom Inc (AVGO) had a return on assets of 13.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Broadcom Inc (AVGO) has an Altman Z-Score of 10.96, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Broadcom Inc (AVGO) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Broadcom Inc (AVGO) has an earnings quality ratio of 1.19x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Broadcom Inc (AVGO) has an interest coverage ratio of 7.9x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Broadcom Inc (AVGO) scores 78 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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