This page shows Qorvo Inc (QRVO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Gross-margin recovery is rebuilding Qorvo's cash engine, but heavy R&D reinvestment is keeping reported operating profit thin.
Across FY2024-FY2025, Qorvo generated about$1.2B of free cash flow while cumulative net income was roughly breakeven, so the cash profile is materially stronger than the earnings line suggests. That gap is consistent with noncash charges and working-capital release: FY2025 EBITDA was$392M versus net income of$55.6M , and lower inventory and receivables helped cash land well above profit.
Gross margin rebounded from
Inventory fell to
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Qorvo Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Qorvo Inc has an operating margin of 11.2%, meaning the company retains $11 of operating profit per $100 of revenue. This results in a moderate score of 37/100, indicating healthy but not exceptional operating efficiency. This is up from 2.6% the prior year.
Qorvo Inc's revenue declined 1.1% year-over-year, from $3.7B to $3.7B. This contraction results in a growth score of 31/100.
Qorvo Inc carries a low D/E ratio of 0.46, meaning only $0.46 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.
Qorvo Inc's current ratio of 3.24 indicates adequate short-term liquidity, earning a score of 62/100. The company can meet its near-term obligations, though with limited headroom.
Qorvo Inc converts 18.5% of revenue into free cash flow ($679.6M). This strong cash generation earns a score of 67/100.
Qorvo Inc generates a 10.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 23/100. This is up from 1.6% the prior year.
Qorvo Inc scores 3.13, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($8.0B) relative to total liabilities ($2.5B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Qorvo Inc passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Qorvo Inc generates $2.39 in operating cash flow ($808.6M OCF vs $339.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Qorvo Inc earns $5.6 in operating income for every $1 of interest expense ($411.4M vs $73.1M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Qorvo Inc generated $3.7B in revenue in fiscal year 2026. This represents a decrease of 1.1% from the prior year.
Qorvo Inc's EBITDA was $673.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 71.7% from the prior year.
Qorvo Inc reported $339.0M in net income in fiscal year 2026. This represents an increase of 509.5% from the prior year.
Qorvo Inc earned $3.62 per diluted share (EPS) in fiscal year 2026. This represents an increase of 524.1% from the prior year.
Cash & Balance Sheet
Qorvo Inc generated $679.6M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 40.2% from the prior year.
Qorvo Inc held $1.2B in cash against $1.5B in long-term debt as of fiscal year 2026.
Qorvo Inc had 88M shares outstanding in fiscal year 2026. This represents a decrease of 5.4% from the prior year.
Margins & Returns
Qorvo Inc's gross margin was 45.9% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 4.6 percentage points from the prior year.
Qorvo Inc's operating margin was 11.2% in fiscal year 2026, reflecting core business profitability. This is up 8.6 percentage points from the prior year.
Qorvo Inc's net profit margin was 9.2% in fiscal year 2026, showing the share of revenue converted to profit. This is up 7.7 percentage points from the prior year.
Qorvo Inc's ROE was 10.1% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 8.5 percentage points from the prior year.
Capital Allocation
Qorvo Inc invested $726.1M in research and development in fiscal year 2026. This represents a decrease of 2.9% from the prior year.
Qorvo Inc spent $532.6M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 49.5% from the prior year.
Qorvo Inc invested $129.1M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 6.2% from the prior year.
QRVO Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $808.3M-18.6% | $993.0M-6.2% | $1.1B+29.3% | $818.8M-5.8% | $869.5M-5.1% | $916.3M-12.4% | $1.0B+18.0% | $886.7M |
| Cost of Revenue | $413.3M-21.8% | $528.8M-5.8% | $561.4M+15.3% | $487.0M-3.2% | $502.9M-4.2% | $524.9M-12.7% | $601.2M+8.4% | $554.4M |
| Gross Profit | $395.0M-14.9% | $464.2M-6.6% | $497.1M+49.8% | $331.8M-9.5% | $366.6M-6.3% | $391.4M-12.1% | $445.3M+34.0% | $332.3M |
| R&D Expenses | $170.4M-4.3% | $178.1M-10.3% | $198.4M+10.7% | $179.2M-0.4% | $179.9M+0.4% | $179.1M-10.9% | $201.1M+7.2% | $187.6M |
| SG&A Expenses | $34.5M+7.8% | $32.0M-32.9% | $47.7M-6.5% | $51.0M+136.1% | -$141.3M-256.4% | $90.4M-16.1% | $107.8M-6.2% | $114.9M |
| Operating Income | $31.5M-83.6% | $192.1M+21.9% | $157.7M+424.1% | $30.1M+6.6% | $28.2M-46.8% | $53.0M+448.1% | $9.7M+110.1% | $4.6M |
| Interest Expense | $17.8M-1.0% | $18.0M-2.5% | $18.5M-1.6% | $18.8M-6.0% | $20.0M+7.1% | $18.7M-17.4% | $22.6M+32.2% | $17.1M |
| Income Tax | -$8.0M-131.2% | $25.7M-27.5% | $35.5M+482.7% | $6.1M+137.7% | -$16.1M-311.7% | $7.6M-61.8% | $19.9M+1853.6% | -$1.1M |
| Net Income | $29.7M-81.9% | $164.1M+37.2% | $119.6M+367.3% | $25.6M-18.4% | $31.4M-24.0% | $41.3M+336.7% | -$17.4M-4311.4% | $414K |
| EPS (Diluted) | N/A | $1.75+36.7% | $1.28+374.1% | $0.27 | N/A | $0.43+338.9% | $-0.18 | $0.00 |
QRVO Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.8B-5.5% | $6.2B+1.1% | $6.1B+1.6% | $6.0B+1.1% | $5.9B-0.5% | $6.0B-8.3% | $6.5B+0.9% | $6.4B |
| Current Assets | $2.3B-7.1% | $2.5B+4.5% | $2.4B+5.8% | $2.2B+3.6% | $2.2B+3.4% | $2.1B-17.2% | $2.5B+6.5% | $2.4B |
| Cash & Equivalents | $1.2B-7.5% | $1.3B+19.5% | $1.1B-5.3% | $1.2B+14.1% | $1.0B+32.7% | $769.4M-29.8% | $1.1B+1.3% | $1.1B |
| Inventory | $553.7M+4.4% | $530.2M-12.4% | $605.3M-5.1% | $638.0M-0.5% | $641.0M-2.3% | $656.2M-5.5% | $694.5M-4.4% | $726.6M |
| Accounts Receivable | $382.5M-21.6% | $487.7M-10.3% | $543.4M+65.5% | $328.3M-15.1% | $386.7M-9.6% | $427.9M-26.4% | $581.0M+36.8% | $424.6M |
| Goodwill | $2.4B-1.5% | $2.4B0.0% | $2.4B0.0% | $2.4B0.0% | $2.4B-1.9% | $2.4B0.0% | $2.4B-3.8% | $2.5B |
| Total Liabilities | $2.5B+0.6% | $2.5B-4.7% | $2.6B+1.0% | $2.6B+0.8% | $2.5B-1.6% | $2.6B-16.5% | $3.1B+4.5% | $3.0B |
| Current Liabilities | $712.8M+5.5% | $675.7M-16.0% | $804.6M+0.8% | $798.3M+1.9% | $783.2M-3.1% | $807.9M-39.4% | $1.3B+9.6% | $1.2B |
| Long-Term Debt | $1.5B0.0% | $1.5B0.0% | $1.5B0.0% | $1.5B0.0% | $1.5B0.0% | $1.5B0.0% | $1.5B0.0% | $1.5B |
| Total Equity | $3.3B-9.6% | $3.7B+5.4% | $3.5B+2.1% | $3.4B+1.3% | $3.4B+0.4% | $3.4B-0.9% | $3.4B-2.2% | $3.5B |
| Retained Earnings | $38.8M-82.9% | $226.7M+211.1% | $72.9M+968.8% | -$8.4M+75.3% | -$34.0M+48.0% | -$65.3M+38.7% | -$106.6M-19.5% | -$89.2M |
QRVO Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $276.3M+4.1% | $265.4M+216.0% | $84.0M-54.1% | $182.9M-8.2% | $199.2M-7.0% | $214.1M+67.5% | $127.8M+57.7% | $81.1M |
| Capital Expenditures | $21.2M-25.5% | $28.5M-31.8% | $41.8M+11.3% | $37.5M+31.7% | $28.5M-24.7% | $37.8M+14.6% | $33.0M-13.7% | $38.2M |
| Free Cash Flow | $255.0M+7.6% | $236.9M+461.6% | $42.2M-71.0% | $145.4M-14.8% | $170.7M-3.2% | $176.2M+85.8% | $94.8M+121.3% | $42.9M |
| Investing Cash Flow | $18.1M+324.1% | $4.3M+113.1% | -$32.7M+2.0% | -$33.3M-134.9% | $95.6M+1452.0% | -$7.1M+79.7% | -$34.8M-102.6% | -$17.2M |
| Financing Cash Flow | -$392.1M-623.4% | -$54.2M+52.2% | -$113.3M-1534.0% | -$6.9M+84.0% | -$43.4M+91.8% | -$531.7M-566.8% | -$79.7M-170.0% | -$29.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $400.1M+2191.0% | $17.5M-73.2% | $65.1M+30.5% | $49.9M-0.2% | $50.0M-50.0% | $100.0M+22.9% | $81.4M-34.8% | $124.9M |
QRVO Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.9%+2.1pp | 46.8%-0.2pp | 47.0%+6.4pp | 40.5%-1.6pp | 42.2%-0.6pp | 42.7%+0.2pp | 42.5%+5.1pp | 37.5% |
| Operating Margin | 3.9%-15.4pp | 19.4%+4.5pp | 14.9%+11.2pp | 3.7%+0.4pp | 3.3%-2.5pp | 5.8%+4.9pp | 0.9%+0.4pp | 0.5% |
| Net Margin | 3.7%-12.8pp | 16.5%+5.2pp | 11.3%+8.2pp | 3.1%-0.5pp | 3.6%-0.9pp | 4.5%+6.2pp | -1.7%-1.7pp | 0.1% |
| Return on Equity | 0.9%-3.6pp | 4.4%+1.0pp | 3.4%+2.7pp | 0.7%-0.2pp | 0.9%-0.3pp | 1.2%+1.7pp | -0.5%-0.5pp | 0.0% |
| Return on Assets | 0.5%-2.1pp | 2.7%+0.7pp | 2.0%+1.5pp | 0.4%-0.1pp | 0.5%-0.2pp | 0.7%+1.0pp | -0.3%-0.3pp | 0.0% |
| Current Ratio | 3.24-0.4 | 3.67+0.7 | 2.95+0.1 | 2.81+0.0 | 2.77+0.2 | 2.60+0.7 | 1.90-0.1 | 1.95 |
| Debt-to-Equity | 0.46+0.0 | 0.42-0.0 | 0.440.0 | 0.450.0 | 0.460.0 | 0.460.0 | 0.450.0 | 0.44 |
| FCF Margin | 31.6%+7.7pp | 23.9%+19.9pp | 4.0%-13.8pp | 17.8%-1.9pp | 19.6%+0.4pp | 19.2%+10.2pp | 9.1%+4.2pp | 4.8% |
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Frequently Asked Questions
What is Qorvo Inc's annual revenue?
Qorvo Inc (QRVO) reported $3.7B in total revenue for fiscal year 2026. This represents a -1.1% 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.
How fast is Qorvo Inc's revenue growing?
Qorvo Inc (QRVO) revenue declined by 1.1% year-over-year, from $3.7B to $3.7B in fiscal year 2026.
Is Qorvo Inc profitable?
Yes, Qorvo Inc (QRVO) reported a net income of $339.0M in fiscal year 2026, with a net profit margin of 9.2%.
What is Qorvo Inc's EBITDA?
Qorvo Inc (QRVO) had EBITDA of $673.8M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Qorvo Inc have?
As of fiscal year 2026, Qorvo Inc (QRVO) had $1.2B in cash and equivalents against $1.5B in long-term debt.
What is Qorvo Inc's gross margin?
Qorvo Inc (QRVO) had a gross margin of 45.9% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Qorvo Inc's operating margin?
Qorvo Inc (QRVO) had an operating margin of 11.2% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Qorvo Inc's net profit margin?
Qorvo Inc (QRVO) had a net profit margin of 9.2% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Qorvo Inc's return on equity (ROE)?
Qorvo Inc (QRVO) has a return on equity of 10.1% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Qorvo Inc's free cash flow?
Qorvo Inc (QRVO) generated $679.6M in free cash flow during fiscal year 2026. This represents a 40.2% 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.
What is Qorvo Inc's operating cash flow?
Qorvo Inc (QRVO) generated $808.6M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Qorvo Inc's total assets?
Qorvo Inc (QRVO) had $5.8B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Qorvo Inc's capital expenditures?
Qorvo Inc (QRVO) invested $129.1M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Qorvo Inc spend on research and development?
Qorvo Inc (QRVO) invested $726.1M in research and development during fiscal year 2026.
What is Qorvo Inc's current ratio?
Qorvo Inc (QRVO) had a current ratio of 3.24 as of fiscal year 2026, which is generally considered healthy.
What is Qorvo Inc's debt-to-equity ratio?
Qorvo Inc (QRVO) had a debt-to-equity ratio of 0.46 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Qorvo Inc's return on assets (ROA)?
Qorvo Inc (QRVO) had a return on assets of 5.8% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Qorvo Inc's Altman Z-Score?
Qorvo Inc (QRVO) has an Altman Z-Score of 3.13, 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.
What is Qorvo Inc's Piotroski F-Score?
Qorvo Inc (QRVO) has a Piotroski F-Score of 8 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Qorvo Inc's earnings high quality?
Qorvo Inc (QRVO) has an earnings quality ratio of 2.39x, 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.
Can Qorvo Inc cover its interest payments?
Qorvo Inc (QRVO) has an interest coverage ratio of 5.6x, 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.
How financially healthy is Qorvo Inc?
Qorvo Inc (QRVO) scores 52 out of 100 on our Financial Profile, indicating moderate 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.