Broadcom Inc.
$347.01
−17.35 (−4.76%) · delayed · Nov 13, 2026
Five-year price
52w $289.77 to $495.00
- Market cap
- $1.66T
- Enterprise value
- $1.71T
- P/E
- 72.7×
- 111.9× on 3y avg EPS
- EV / EBIT
- 66.9×
- FCF yield
- 1.6%
- ROIC
- 19.6%
- Debt / equity
- 0.80
- Piotroski F
- 8/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
67
- ●ROIC > 12% (5y avg)5y avg ROIC 20.0%
- ●ROE > 15% (5y avg)5y avg ROE 34.7%
- ○Stable operating marginsMargin volatility 7.3% (σ, 5y)
- ●Earnings convert to cashFCF / net income 182% (5y avg)
- ●Growing revenueRevenue CAGR 5y 21.7%
- ○Shrinking share countDiluted shares 1052.7% over 5y
Value
0
- ○P/E below 15P/E 72.7
- ○EV/EBIT below 12EV/EBIT 66.9
- ○FCF yield above 6%FCF yield 1.6%
- ○Price below Graham NumberGraham Number $42.75
- ○P/B below 3P/B 20.4
Safety
60
- ○Debt / equity below 0.5D/E 0.80
- ●Debt payable in < 4 yrs of earningsNet debt $49.0B
- ○Interest coverage > 8xCoverage 7.9x
- ●Current ratio > 1.5Current ratio 1.71
- ●Piotroski F-score ≥ 6F-score 8/9
Graham Defensive
29
- ●Adequate size (revenue > $2B)Revenue $63.9B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.71
- ○Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -66%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 111.9
- ○P/E × P/B ≤ 22.5Product 2281.0
Valuation lab
What do you have to believe?
At $347.01, the market is pricing in about 21.0% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $49.0B · 4774M shares · 5y revenue CAGR 21.7%
Intrinsic value
$321.64
Price
$347.01
Premium paid
8%
What the price implies
The market is paying for 21.0% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
70% of the value sits beyond year 10. That means the answer depends mostly on the long-run assumptions.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 13,240 | 17,636 | 20,848 | 22,597 | 23,888 | 27,450 | 33,203 | 35,819 | 51,574 | 63,887 |
| Gross profit | 5,940 | 8,509 | 10,733 | 12,483 | 13,516 | 16,844 | 22,095 | 24,690 | 32,509 | 43,294 |
| Operating income | (409) | 2,371 | 5,135 | 3,444 | 4,014 | 8,519 | 14,225 | 16,207 | 13,463 | 25,484 |
| Operating margin | -3.1% | 13.4% | 24.6% | 15.2% | 16.8% | 31.0% | 42.8% | 45.2% | 26.1% | 39.9% |
| Pre-tax income | (1,107) | 1,825 | 4,545 | 2,226 | 2,443 | 6,765 | 12,434 | 15,097 | 9,916 | 22,729 |
| Income tax | 642 | 35 | (8,084) | (510) | (518) | 29 | 939 | 1,015 | 3,748 | (397) |
| Net income | (1,739) | 1,692 | 12,259 | 2,724 | 2,960 | 6,736 | 11,495 | 14,082 | 5,895 | 23,126 |
| EPS (diluted) | -4.86 | 4.02 | 28.44 | 6.43 | 6.33 | 15.00 | 2.65 | 3.30 | 1.23 | 4.77 |
| Diluted shares | 383 | 421 | 431 | 419 | 421 | 429 | 4,232 | 4,272 | 4,778 | 4,853 |
Who owns it