Broadcom Inc. (AVGO)
Information Technology · Semiconductors · US stock · S&P 500 component
$321.68
▼ -1.56 (0.48%)
Fair valueFair
$355 +10.3% to fair value
$177fair band $302–$430$532
Day's range
$320.23 – $327.70
52-week range
$289.96 – $495.00
About Broadcom Inc.
Broadcom designs semiconductors and infrastructure software. Its chips serve data center networking, custom accelerators for large cloud customers, broadband, wireless and storage markets, and its software unit sells enterprise tools for virtualization, mainframe and security. Revenue comes from chip sales to equipment makers and cloud companies and from software licences and subscriptions with large business customers.
The company reported revenue of $89.1 billion for the last twelve months. Revenue growth over three years averaged 24.4% a year. Operating margin is 48.0% and return on invested capital is 29%. Net debt to EBITDA is 0.8 times. It pays a dividend with a yield of 0.8%. The X-Ray Score is 60 out of 100. These figures describe past results as reported and are a factual snapshot, not a forecast. Some measures, such as margins for real estate trusts and banks, are defined differently from those of industrial firms, so comparisons should be made with care.
Price chart
52-wk range $289.96 – $495.00Volume 15,826,189Daily, split-adjusted
Vitals
Market cap$1.57T
52-week range$289.96 – $495.00
Volume (last day)15,826,189
P/E (TTM)41.0
EBIT / EV yield2.7%
Free-cash-flow yield2.5%
Dividend yield0.8%
Revenue (TTM)$89.1B
Net income (TTM)$38.3B
Operating margin48.0%
Return on capital28.5%
Debt incl. leases$59.4B
Cash & securities$24.0B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$355middle half of models $329 – $368
Fair
+10.3% to fair value
Average of the 10 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so multiples applied to today's profit may overstate value; model uncertainty is set to High
Price $322
Undervalued < $302Fair $302 – $430Overvalued > $430
P/E multiple
$360
P/B multiple
$335
P/S multiple
$327
EV/EBITDA multiple
$355
EV/EBIT multiple
$413
EV/revenue multiple
$328
10-year DCF, EBITDA exit
$341
5-year DCF, EBITDA exit
$396
10-year DCF, revenue exit
$325
5-year DCF, revenue exit
$370
10-year DCF, growth exit · not used
$108
5-year DCF, growth exit · not used
$99
Dividend discount, stable · not used
$85
Dividend discount, multi-stage · not used
$104
Earnings power value · not used
$98
Growth the price implies
38.7%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 4.96%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Information Technology peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
54/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield2.7%
Free-cash-flow yield2.5%
Fair value vs price1.1×
Growth
Strong
73/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)24.4%
EPS growth (3y)21.6%
Growth consistency100%
Profitability
Fair
53/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital28.5%
Operating margin48.0%
Gross profitability32.6%
Financial health
Fair
64/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score8 / 9
Net debt / EBITDA0.8×
Interest cover13.7×
Dividends
Fair
59/100
Dividend is typical for its sector.
See the numbers →
Dividend yield0.8%
Dividends vs free cash flow32%
Dividend growth16.6%
Quarterly results: last 6 quarters
+20.2%
May '25
+22.0%
Aug '25
+28.2%
Nov '25
+29.5%
Feb '26
+47.9%
May '26
+85.5%
Aug '26
Revenue against the same quarter a year earlier. Latest quarter revenue $29.6B, diluted EPS $2.68.
Compare with peers
MU Micron Technology Inc79 FSLR First Solar, Inc.70 NVDA Nvidia Corp67 MPWR Monolithic Power Syste...59Other Semiconductors companies by X-Ray Score.
SWOT analysis: Broadcom Inc.
Strengthsinside the company
- Return on invested capital is 28.5%, against a median of 12.7% for industry peers.
- Operating margin of 48.0% is well above the 26.0% median of industry peers, a sign of pricing power or lower costs.
- Revenue has grown 24.4% a year over three years (median -1.2% for industry peers).
- Earnings per share have compounded at 21.6% a year over three years.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Our Market Compass rates the backdrop for Information Technology as favourable.
Threatsvaluation and setting
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
- The price trend is down on the daily and weekly signals.
- Earnings in Semiconductors follow the industry cycle, so margins and profits can swing from year to year.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare AVGO with peers and sector
Medians of 14 Semiconductors peers and of 74 Information Technology stocks in our universe.
Largest peers (X-Ray Score): NVDA 67, MU 79, AMD 48, INTC 17, TXN 44, MRVL 31.
| Metric | AVGO | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 60 | 43 | 50 |
| Valuation | 54 | 31 | 50 |
| Growth | 72 | 31 | 54 |
| Profitability | 53 | 41 | 49 |
| Financial health | 64 | 58 | 49 |
| Dividends | 59 | 52 | 50 |
Sector leaders: highest X-Ray Score in Information Technology
AVGO ranks #14 of 75 in Information Technology and #4 of 15 in Semiconductors by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for AVGO
Each factor is rated by where AVGO stands among the 75 Information Technology stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 10 Good · 8 Average · 5 Bad of 23
Growth: 3 · 0 · 0
Profitability: 3 · 2 · 0
Financial strength: 2 · 2 · 0
Valuation: 0 · 2 · 3
Cash flow: 1 · 1 · 2
Efficiency: 1 · 1 · 0
| Factor | AVGO | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +24.4% | Good beats 86% | +9.7% | – | – |
| Revenue growth, last year | +23.9% | Good beats 75% | +13.7% | +21.0% | ▲ Better |
| EPS growth, 3 years a year | +21.6% | Good beats 69% | +5.9% | – | – |
| Profitability | |||||
| Gross margin | 68.8% | Average beats 65% | 57.8% | 66.5% | ≈ In line |
| Operating margin | 48.0% | Good beats 93% | 20.3% | 39.9% | ▲ Better |
| Net margin | 42.9% | Good beats 91% | 17.8% | 34.6% | ▲ Better |
| Return on invested capital | 28.5% | Average beats 66% | 19.4% | – | – |
| Return on equity | 38.4% | Good beats 75% | 21.0% | 28.4% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 0.8x | Average beats 49% | 0.8x | 1.9x | ▲ Better |
| Interest cover | 13.7x | Average beats 38% | 23.0x | 7.9x | ▲ Better |
| Current ratio | 2.50 | Good beats 77% | 1.57 | 2.62 | ≈ In line |
| Piotroski F-score | 8 / 9 | Good beats 89% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 41.1x | Average beats 37% | 34.2x | 51.5x | ▲ Better |
| Price / book | 15.8x | Bad beats 21% | 8.4x | 13.4x | ▼ Worse |
| Price / sales | 17.6x | Bad beats 13% | 6.8x | 12.8x | ▼ Worse |
| EV / EBITDA | 37.5x | Bad beats 28% | 24.9x | 44.0x | ▲ Better |
| Free cash flow yield | 2.5% | Average beats 36% | 3.3% | 3.7% | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 44.2% | Good beats 93% | 22.3% | 48.5% | ≈ In line |
| Cash from operations / net income | 1.06 | Bad beats 22% | 1.39 | 1.46 | ▼ Worse |
| Free cash flow growth, 3 years a year | +18.2% | Average beats 55% | +15.4% | – | – |
| Accruals (lower is better) | −1.3% | Bad beats 23% | −4.4% | – | – |
| Efficiency | |||||
| Inventory turnover | 6.2x | Good beats 83% | 3.9x | 8.2x | ▼ Worse |
| Days sales outstanding | 56 days | Average beats 62% | 63 days | 32 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 7 Good · ● 8 Average · ● 1 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldAverage
Risk models
Altman Z''Average
Piotroski F-ScoreGood
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Average
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioGood
Net debt / EBITDAAverage
Interest coverAverage
Valuation
Fair value vs priceGood
EBIT / EV yieldAverage
Profitability
Return on invested capitalAverage
Operating marginGood
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 59/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $27.5B | $33.2B | $35.8B | $51.6B | $63.9B |
| Operating income | $8.5B | $14.2B | $16.2B | $13.5B | $25.5B |
| Net income | $6.7B | $11.5B | $14.1B | $5.9B | $23.1B |
| Operating cash flow | $13.8B | $16.7B | $18.1B | $20.0B | $27.5B |
| Operating margin | 31.0% | 42.8% | 45.2% | 26.1% | 39.9% |
| Free cash flow | $13.3B | $16.3B | $17.6B | $19.4B | $26.9B |
| Diluted EPS | $15.00 | $2.65 | $3.30 | $1.23 | $4.77 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bearish
3 bullish · 1 neutral · 12 bearish
Weekly
Bearish
3 bullish · 1 neutral · 8 bearish
Monthly
Neutral
3 bullish · 1 neutral · 4 bearish
Moving averages (daily)
| SMA 10 | 338.3 | Bearish |
| EMA 10 | 336.6 | Bearish |
| SMA 20 | 348.7 | Bearish |
| EMA 20 | 344.5 | Bearish |
| SMA 50 | 356.4 | Bearish |
| EMA 50 | 357.0 | Bearish |
| SMA 100 | 373.9 | Bearish |
| EMA 100 | 365.7 | Bearish |
| SMA 200 | 366.7 | Bearish |
| EMA 200 | 360.3 | Bearish |
Oscillators (daily)
| RSI (14) | 34.26 | Neutral |
| MACD (12, 26) | -8.91 | Bearish |
| Momentum (12) | -14.56 | Bearish |
| Stochastic %K (14) | 2.39 | Bullish |
| Williams %R (14) | -97.61 | Bullish |
| CCI (20) | -146.2 | Bullish |
Pivot points (classic, last session)
S3 311.2 | S2 315.7 | S1 318.7 | Pivot 323.2 | R1 326.2 | R2 330.7 | R3 333.6 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.60 USD
Yield on today's price
0.81%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.6500 | |
| 0.6500 | |
| 0.6500 | |
| 0.6500 | |
| 0.5900 | |
| 0.5900 | |
| 0.5900 | |
| 0.5900 | |
| 0.5300 | |
| 5.2500 | |
| 5.2500 | |
| 5.2500 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold AVGO
| ETF | Share of the fund |
|---|---|
| AVL Direxion Daily AVGO Bull 2X | 17.78% |
| TRFK Pacer Data and Digital Revolution | 9.08% |
| SOXQ Invesco PHLX Semiconductor | 8.73% |
| IGM iShares Expanded Tech Sector | 7.60% |
| SPMO Invesco S&P 500 Momentum | 7.58% |
| VYM Vanguard High Dividend Yield | 7.35% |
| TDIV First Trust NASDAQ Technology Dividend... | 7.24% |
| FEPI REX FANG & Innovation Equity Premium I... | 6.95% |
The eight funds with the largest weight in AVGO among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
AVGO stock splits
AVGO has split its stock once since 2024. The latest was a 10-for-1 split on 15 Jul 2024.
Full AVGO stock split history →AVGO SEC filings
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations; Other events
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Other events
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations; Other events
8-KSEC EDGAR
Shareholder vote results
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.