AVGO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $355.14
Market Cap (MRQ) $1.70T
P/E (TTM) 45.3
EPS (TTM) $7.84
Revenue (TTM) $89.10B
Div Yield 0.67%
ROE (TTM) 44.2%
Debt/Equity (MRQ) 0.6
52W Range $290–$495

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About Broadcom Inc. - Common Stock Company overview from Wikipedia

05 · wikidata

Broadcom Inc. is an American multinational designer, developer, manufacturer, and global supplier of a wide range of semiconductor and infrastructure software products. Broadcom's product offerings serve the data center, networking, software, broadband, wireless, storage, and industrial markets. As of 2026, Broadcom is one of the largest companies globally.

In December 2024, Broadcom became the 12th company to surpass a $1 trillion market cap. In April 2026, Broadcom surpassed a $2 trillion market cap, becoming the sixth company in history to do so. As of 2025, some 58% of Broadcom's revenue came from its semiconductor-based products and 42% from its infrastructure software products and services.

Tan Hock Eng is the company's president and CEO. The company is headquartered in Palo Alto, California. Avago Technologies Limited changed its name to Broadcom to acquire Broadcom Corporation in January 2016. Avago's ticker symbol AVGO now represents the merged entity. The Broadcom Corporation ticker symbol BRCM was retired. Initially the merged entity was known as Broadcom Limited, before assuming the current name in November 2017.

In October 2019, the European Union issued an interim antitrust order against Broadcom concerning anticompetitive business practices which allegedly violate European Union competition law.

In May 2022, Broadcom announced an agreement to acquire VMware in a cash-and-stock transaction valued at $69 billion. The acquisition was closed on November 22, 2023.

History

Origin in Hewlett-Packard

The company that would later become Broadcom Inc. was established in 1961 as HP Associates, a semiconductor products division of Hewlett-Packard.

The division separated from Hewlett-Packard as part of the Agilent Technologies spinoff in 1999.

Formation of Avago Technologies

KKR and Silver Lake Partners acquired the Semiconductor Products Group of Agilent Technologies in 2005 for $2.6 billion and formed Avago Technologies. Avago Technologies agreed to sell its I/O solutions unit to PMC-Sierra for $42.5 million in October 2005.

In August 2008, the company filed an initial public offering of $400 million. In October 2008, Avago Technologies acquired Infineon Technologies' Munich-based bulk acoustic wave business for €21.5 million.

On 6 August 2009, Avago Technologies went public on NASDAQ with the ticker symbol AVGO.

Avago Technologies announced its agreement to acquire CyOptics, an optical chip and component supplier, for $400 million in April 2013. The acquisition aimed to expand Avago Technologies' fiber optics product portfolio. In October 2013, Avago Technologies invested $5 million in Amantys, a power electronics technology provider, as part of a strategic investment agreement between the two companies.

Avago Technologies announced its agreement to acquire LSI Corporation in December 2013 for $6.6 billion. The acquisition helped move Avago Technologies away from specialized products and towards a more mainstream industry, which included chips, especially storage for data centers.

The company sold its SSD controller business to Seagate Technology in May 2014. In August 2014, the company was the ninth-largest semiconductor company. Avago Technologies agreed to sell LSI's Axxia Networking business to Intel for $650 million. The company also agreed to buy PLX Technology, an integrated circuits designer, for $309 million. In February 2015, it was announced that Avago Technologies Limited had reached an agreement to acquire Emulex Corporation for $8 per share in cash.

Acquisition of and change of name to Broadcom Limited

On 28 May 2015, Avago announced that it would buy Broadcom Corporation for $37 billion ($17 billion cash and $20 billion in shares). Avago was the nominal survivor, but the combined company would be named Broadcom Ltd. It would have annual revenue of $15 billion and a market value of $77 billion. Broadcom Corp. strengthened Avago Technologies' patent position significantly in sectors such as mobile, the data center, and the Internet of Things and made the company the ninth largest holder of patents among the top semiconductor vendors, according to an analysis by technology consulting firm LexInnova.

In May 2016, Cypress Semiconductor announced that it acquired Broadcom Corporation's full portfolio of IoT products for $550 million. Under the deal, Cypress acquired Broadcom's IoT products and intellectual property for Wi-Fi, Bluetooth and Zigbee connectivity, as well as Broadcom's WICED platform and SDK for developers. The deal combined Broadcom's developer tools and connectivity technologies for IoT devices with Cypress' own programmable system-on-a-chip (SoC) products that provide memory, computing and graphics processing for low-power devices.

Foreign investment reviews and change of name to Broadcom Inc.

In 2016, Broadcom proposed merging with Brocade Communications Systems. The acquisition proposal included a $5.5 billion price and was offered in cash. It was delayed for review by the Committee on Foreign Investment in the United States. On 2 November 2017, Broadcom announced it would relocate its legal address from Singapore to Delaware, which would avoid the review. This action was linked to the parent company being renamed from Broadcom Limited to Broadcom Inc. The pre-2016-merger Broadcom, Broadcom Corporation, remains a wholly owned subsidiary of the renamed parent Broadcom Inc.

In mid-November 2017, Broadcom proposed to purchase Qualcomm for US$130 billion, which was rebuffed by Qualcomm's board. The proposed hostile takeover, which was later revised to $117 billion, was blocked by the Trump administration by an executive order that cited national security concerns. Specifically, the Committee on Foreign Investment in the United States expressed concerns. Broadcom, then headquartered in Singapore, was considered too close to China and chipmaker Huawei. "A shift to Chinese dominance in 5G would have substantial negative national security consequences for the United States," CFIUS said. "While the United States remains dominant in the standards-setting space currently, China would likely compete robustly to fill any void left by Qualcomm as a result of this hostile takeover." However, critics of the move stated that the decision was motivated by competitiveness more than security concerns. Broadcom withdrew its takeover bid two days after the executive order. Observers have stated that President Trump's decision was as consistent with the balance of trade objectives as it was with security concerns.

Move into software

Historically a semiconductor-based-only company, the failure of the Qualcomm bid led Broadcom and its CEO to look at acquiring infrastructure software as an alternative way of growing in size. On 11 July 2018, news sources reported that Broadcom and CA Technologies agreed on terms for an $18.9 billion acquisition. CA Technologies, formerly known as Computer Associates, was a longtime giant in software for mainframe computers that had expanded its offerings into software for cloud computing. And on 5 November 2018, Broadcom announced that it had completed the acquisition of CA Technologies.

On 9 August 2019, Broadcom acquired the enterprise security business of Symantec Corporation (the consumer software portion of which is now known as Gen Digital) for $10.7 billion in cash. The deal continued Broadcom's push into software critical for corporate infrastructure. And on 4 November 2019, Broadcom announced that it had completed the acquisition of the business, as well as the Symantec name and brand.

In 2019, Broadcom was the fifth best performing stock of the 2010s, with a total return of 1,956%.

Anti-competitive practices investigations

In January 2018, it was reported that the FTC had been investigating Broadcom for several months for engaging in anti-competitive tactics while negotiating with customers. In 2021, Broadcom agreed to settle the antitrust complaint, in which the U.S. Federal Trade Commission claimed that the company abused its monopoly power using restrictive contract terms and threats of retaliation against customers the company deemed "disloyal."

In October 2019, Broadcom was ordered by the European Commission to stop allegedly anticompetitive practices.

In 2021, Broadcom agreed to settle the antitrust complaint which claimed it had abused its monopoly power through restrictive contract terms and threats of retaliation against non-compliant customers. Such contract terms are alleged to stifle innovation and harm competition in the global supply market. European Competition Commissioner Margrethe Vestager said that Broadcom's contract terms with six main customers would "create serious and irreversible harm to competition" if no action were taken. The company agreed to a commitment to suspend agreements containing exclusivity or quasi-exclusivity arrangements and a commitment not to enter into such agreements for seven years.

Following its $69 billion acquisition of VMware in 2023, Broadcom faced renewed European regulatory scrutiny over its licensing of VMware products. In March 2026, the Cloud Infrastructure Service Providers in Europe (CISPE) trade group filed a formal complaint with the European Commission, alleging that Broadcom's licensing of VMware products to cloud service providers infringed EU antitrust rules and requesting interim measures to halt the closure of VMware's cloud service provider programme. CISPE alleged that since the acquisition, prices had risen tenfold, with payment demanded upfront and products bundled regardless of customer need. The European Commission confirmed it was assessing the complaint. Broadcom denied the allegations, stating CISPE was "an organisation funded by hyperscalers, which misrepresent the realities of the market".

Patent suits

In 2017, Broadcom filed patent suits against smart TV manufacturers. The U.S. International Trade Commission ruled in favor of the smart TV manufacturers.

In 2020, Broadcom sued Netflix over multiple patent infringements. Critics have argued that Broadcom is suing Netflix for being more successful, citing the declining number of traditional pay television subscribers due to the rise of streaming services. The Leichtman Research Group calculated that the largest pay TV providers in the U.S. – representing about 95% of the market – lost about 4,915,000 net video subscribers in 2019. Regular customers each pay $231 a year for their boxes, totaling almost $20 billion per year in profit for the cable industry.

2020s

On January 7, 2020, Accenture PLC agreed to acquire Symantec's 300-person cybersecurity services division from Broadcom. In February 2020, Broadcom announced the world's first WiFi 6E client device, the BCM4389. In early 2020, Raspberry Pi Inc. revealed that their new boards would have a Broadcom BCM2711 chip.

In May 2022, Broadcom announced its deal to acquire the virtualization and cloud computing software vendor VMware for $61 billion in a combination of cash and stock, with Broadcom assuming $8 billion in VMware debt. In November 2022, the UK's Competition and Markets Authority regulator announced it would investigate whether the Broadcom Inc. acquisition of VMware Inc. would "result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services". The European Commission also said it was investigating the proposed acquisition, and as a result, Broadcom and VMware extended the planned completion date out to May 26, 2023. On May 19, 2023, as both UK and EU regulators had yet to complete their investigations, the completion date was formally extended to August 26, 2023, and was later further extended to as late as November 26, 2023.

On November 21, 2023, Broadcom Inc. announced its plan to finalize the $69 billion acquisition of VMware Inc. on the following Wednesday. This acquisition, one of the largest in the technology sector, received global regulatory scrutiny, including from China, which approved the deal with specific conditions. These conditions require VMware's server software to be compatible with local hardware and not restrict customers to using Broadcom's hardware products. Despite concerns over rising China-U.S. tensions, the approval from China, which was the last regulatory hurdle, allowed the deal to proceed. The transaction closed on November 22, 2023. On completion, CEO Hock Tan announced that the company would relocate its headquarters in San Jose to the VMware campus in Palo Alto, California. In February 2024, Broadcom sold the end-user computing division, which it inherited from the VMware acquisition, to KKR for $4 billion.

In July 2026, Broadcom announced that it had extended its partnership with Apple through 2031 to develop and supply custom semiconductor products. Broadcom also supplied Apple with radio-frequency, Wi-Fi, Bluetooth and other networking components used in its devices.

Corporate affairs

Finances

For the fiscal year 2023, Broadcom reported earnings of US$14.08 billion, with an annual revenue of US$35.8 billion, an increase of 7.8% over the previous fiscal cycle.

Products

Broadcom sells a range of semiconductor and infrastructure software applications that serve the data center (mainframes), networking, software, broadband, wireless, and storage and industrial markets. Common applications for its products include: data center networking, home connectivity, broadband access, telecommunications equipment, smartphones, base stations, data center servers and storage, factory automation, power generation and alternative energy systems, displays, and mainframe operations and management, and application software development.

Broadcom's core technologies and franchise products include networking devices, optical technologies, network interface controllers and data storage.

Vendors have included Broadcom NICs in their products. For example, select Dell PowerEdge blade servers have Broadcom-powered Ethernet port adapters as an add-in card. Other vendors such as Apple, Hewlett Packard Enterprise, and Raspberry Pi also use Broadcom NICs.

Vulnerabilities in SoC WiFi stack

In April 2017, Google's Project Zero investigated Broadcom's SoC WiFi stack and found that it lacked "all basic exploit mitigations - including stack cookies, safe unlinking and access permission protection," allowing "full device takeover by Wi-Fi proximity alone, requiring no user interaction." Numerous smartphones, such as by Apple, Samsung and Google were affected.

Jericho2

Jericho2 is a programmable Ethernet switch chip that has up to 10 Tbit/s switching capacity per device.

Tomahawk 3

Tomahawk 3 series supports high-density, standards-based 400GbE, 200GbE, and 100GbE switching and routing for hyperscale cloud networks. Broadcom divulged that it is bringing two variants of the Tomahawk-3 to market. The first can provide up to 12.8 Tbit/s total chip bandwidth and contains 256 integrated SerDes, supporting 32 ports at 400 Gbit/s, 64 ports at 200 Gbit/s, and 128 ports at 100 Gbit/s. The second variant of the Tomahawk-3 has 160 of the 256 SerDes available and delivers 8 Tbit/s of aggregate bandwidth. Broadcom is suggesting 80 ports at 100 Gbit/s; or 48 ports at 100 Gbit/s plus either 8 ports at 400 Gbit/s or 16 ports at 200 Gbit/s; or 96 ports at 50 Gbit/s plus either 8 ports at 400 Gbit/s or 16 ports at 200 Gbit/s. The Tomahawk 4 reached a speed of 25.6 Tbit/s while the Tomahawk 5 has a maximum speed of 51.2 Tbit/s.

Software

Broadcom has expanded from its original hardware base and also offers enterprise software products.

Symantec Enterprise Security

Broadcom operates its enterprise security business under the Symantec brand. It purchased the suite of enterprise security products from Symantec Corporation in 2019, after which Symantec Corporation changed its name to NortonLifeLock.

BizOps technology

Broadcom also offers products for supporting BizOps, including:

Clarity – product portfolio management

Rally – agile development

Blaze CT – Shift-left testing

DX Operational Intelligence – AIOps

Agile Requirements Designer – model-based testing optimization of processes

XPU

Broadcom uses the term XPU to refer to custom ASIC chips developed in collaboration with major hyperscale clients—such as Google, Meta Platforms and ByteDance—that are tailored for specialized AI workloads.

Broadcom has co-developed Google's Tensor Processing Unit (TPU) chips by translating Google's architecture and specifications into manufacturable silicon, providing proprietary technologies like SerDes high-speed interfaces, overseeing ASIC design, and managing chip fabrication and packaging through third-party foundries such as TSMC, covering all generations since the program's inception. Similarly, Meta's Training and Inference Accelerator (MTIA) chips, first introduced in 2023, were co-developed by Broadcom. In 2024, Broadcom began collaborating with OpenAI to co-develop a custom inference chip, as part of an effort to diversify beyond reliance on Nvidia GPUs amid growing demand.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

sectorTechnology industrySemiconductors employees33,000 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$63.89B
2016-10-30 → 2025-11-02
EPS$4.77
2016-10-30 → 2025-11-02
Free Cash Flow$26.91B
2018-11-04 → 2025-11-02
Net margin42.9%
2018-11-04 → 2025-11-02
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend AVGO 5Y avg Peer Median Verdict
P/E (TTM) 45.35Y avg ≈52.3 ≈52.3 46.7 Overvalued
P/S (TTM) 19.05Y avg ≈9.0 ≈9.0 11.5 Overvalued
P/B (MRQ) 17.05Y avg ≈7.3 ≈7.3 10.4 Overvalued
EV / EBITDA 65.65Y avg ≈26.8 ≈26.8 47.1 Overvalued
Price / FCF (TTM) 43.05Y avg ≈22.1 ≈22.1 · ·
Price / Cash Flow (TTM) 41.75Y avg ≈21.6 ≈21.6 39.3 Overvalued
EV / Revenue 26.25Y avg ≈9.0 ≈9.0 · ·
EV / FCF 62.15Y avg ≈22.1 ≈22.1 · ·
Price / Tangible Book (MRQ) 23.1 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

13
Dividend Yield0.67%
Payout Ratio48.2%
Annualized Payout≈$2.60Paid quarterly
5Y Div CAGR≈12.7%Per share, split-adjusted
Growth Streak≈6Consecutive years of dividend growth
Ex-dateAmountCurrencyYield
Sep 21, 2026$0.65USD≈0.72%
Jun 22, 2026$0.65USD≈0.65%
Mar 23, 2026$0.65USD≈0.77%
Dec 22, 2025$0.65USD≈0.71%
Sep 22, 2025$0.59USD≈0.70%
Jun 20, 2025$0.59USD≈0.92%
Mar 20, 2025$0.59USD≈1.2%
Dec 23, 2024$0.59USD≈0.93%
Sep 19, 2024$0.53USD≈1.3%
Jun 24, 2024$0.53USD≈1.3%
Mar 20, 2024$0.53USD≈1.5%
Dec 19, 2023$0.53USD≈1.7%
Sep 20, 2023$0.46USD≈2.2%
Jun 21, 2023$0.46USD≈2.1%
Mar 21, 2023$0.46USD≈2.7%
Dec 19, 2022$0.46USD≈3.1%
Sep 21, 2022$0.41USD≈3.4%
Jun 21, 2022$0.41USD≈3.2%
Mar 21, 2022$0.41USD≈2.6%
Dec 21, 2021$0.41USD≈2.3%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 0.28%
PeriodReportEPS ActualEPS EstSurprise
Sept. 30, 2026 Sep 2, 2026 $3.32 $3.30 0.57%
June 30, 2026 Jun 3, 2026 $2.44 $2.45 -0.24%
March 31, 2026 $2.05 $2.07 -0.87%
Dec. 31, 2025 $1.95 $1.90 2.7%
Sept. 30, 2025 $1.69 $1.68 0.50%
June 30, 2025 $1.58 $1.59 -0.93%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 17
Metric Trend 2025202420232022202120202019201820172016
Revenue $63.89B$51.57B$35.82B$33.20B$27.45B$23.89B$22.60B$20.85B$17.64B$13.24B
Cost of Revenue $20.59B$19.07B$11.13B$11.11B$10.61B$10.37B$10.11B$10.12B$9.13B$7.30B
Gross Profit $43.29B$32.51B$24.69B$22.09B$16.84B$13.52B$12.48B$10.73B$8.51B$5.94B
R&D Expense $10.98B$9.31B$5.25B$4.92B$4.85B$4.97B$4.70B$3.77B$3.30B$2.67B
SG&A Expense $4.21B$4.96B$1.59B$1.38B$1.35B$1.94B$1.71B$1.06B$789M$806M
Operating Expenses $17.81B$19.05B$8.48B$7.87B$8.32B$9.50B$9.04B$5.60B$6.14B$6.35B
Operating Income $25.48B$13.46B$16.21B$14.22B$8.52B$4.01B$3.44B$5.13B$2.37B$-409M
Interest Expense ·$3.95B$1.62B$1.74B$1.89B$1.78B$1.44B$628M$454M$585M
Other Non-op $455M$406M$512M$-54M$131M$206M$226M$144M$74M$10M
Pretax Income $22.73B$9.92B$15.10B$12.43B$6.76B$2.44B$2.23B$4.54B$1.82B$-1.11B
Income Tax $-397M$3.75B$1.01B$939M$29M$-518M$-510M$-8.08B$35M$642M
Net Income $23.13B$5.89B$14.08B$11.49B$6.74B$2.96B$2.72B$12.61B$1.78B$-1.74B
EPS (Basic) $4.91$1.27$3.39$2.74$15.70$6.62$6.77$29.33$4.18$-4.75
EPS (Diluted) $4.77$1.23$3.30$2.65$15.00$6.33$6.43$28.44$4.02$-4.86
Shares (Basic) 4,712,000,0004,624,000,0004,149,000,0004,089,000,000410,000,000402,000,000398,000,000418,000,000405,000,000366,000,000
Shares (Diluted) 4,853,000,0004,778,000,0004,272,000,0004,232,000,000429,000,000421,000,000419,000,000431,000,000421,000,000383,000,000
EBITDA $25.48B$13.46B$16.21B$14.22B$8.52B$4.01B$3.44B$5.13B··
Balance Sheet 30
Metric Trend 2025202420232022202120202019201820172016
Cash & Equivalents $16.18B$9.35B$14.19B$12.42B$12.16B$7.62B$5.05B$4.29B$11.20B$3.10B
Receivables $7.14B$4.42B$3.15B$2.96B$2.07B$2.30B$3.26B$3.33B$2.45B·
Inventory $2.27B$1.76B$1.90B$1.93B$1.30B$1.00B$874M$1.12B$1.45B·
Prepaid Expense $518M$1.39B$743M$864M$539M$387M$302M$243M$440M·
Other Current Assets $5.98B$4.07B$1.61B$1.21B$1.05B$977M$729M$366M$724M·
Current Assets $31.57B$19.59B$20.85B$18.50B$16.59B$11.89B$9.92B$9.11B$15.82B·
PP&E (Net) $2.53B$2.52B$2.15B$2.22B$2.35B$2.51B$2.56B$2.63B$2.60B·
PP&E (Gross) $7.43B$7.03B$6.18B$5.83B$5.54B$5.33B$4.90B$4.53B$4.09B·
Accum. Depreciation $4.90B$4.50B$4.02B$3.60B$3.20B$2.82B$2.33B$1.89B$1.49B·
Goodwill $97.80B$97.87B$43.65B$43.61B$43.45B$43.45B$36.71B$26.91B$24.71B$24.73B
Intangibles $32.27B$40.58B$3.87B$7.11B$11.37B$16.78B$17.55B$10.76B$10.83B·
Other Non-current Assets $6.92B$5.07B$2.34B$1.80B$1.81B$1.30B$743M$707M$458M·
Total Assets $171.09B$165.65B$72.86B$73.25B$75.57B$75.93B$67.49B$50.12B$54.42B·
Accounts Payable $1.56B$1.66B$1.21B$998M$1.09B$836M$855M$811M$1.10B·
Accrued Liabilities ·····$771M$886M$160M$247M·
Short-term Debt ·$0········
Current Liabilities $18.51B$16.70B$7.41B$7.05B$6.28B$6.37B$6.90B$2.34B$2.53B·
Capital Leases $1.18B$1.14B$359M$389M$460M$527M····
Deferred Tax ······$1.53B$115M$10.00B·
Other Non-current Liabilities $9.30B$14.97B$3.85B$4.41B$4.86B$5.43B$5.61B$3.64B$11.27B·
Total Liabilities $89.80B$97.97B$48.87B$50.54B$50.58B$52.03B$42.52B$23.47B$31.23B·
Long-term Debt $65.14B···$39.66B$40.99B$32.80B$17.49B$17.55B·
Total Debt $3.15B$1.25B$1.56B$403M$39.73B$41.06B$32.80B$17.49B··
Common Stock $5M$5M$4M$0$0$0$0$0··
Paid-in Capital $71.31B$67.47B$21.09B$21.16B$24.33B$23.98B$25.08B$23.29B··
Retained Earnings $9.76B$0$2.68B$1.60B$748M$0$0$3.49B$-129M·
AOCI $218M$207M$207M$-54M$-116M$-108M$-140M$-115M$-91M·
Stockholders' Equity $81.29B$67.68B$23.99B$22.71B$24.96B$23.87B$24.94B$26.66B$23.19B·
Liabilities + Equity $171.09B$165.65B$72.86B$73.25B$75.57B$75.93B$67.49B$50.12B$54.42B·
Shares Outstanding 4,741,000,0004,686,000,0004,139,000,000418,000,000413,000,000407,000,000398,000,000407,637,618408,732,155·
Cash Flow 18
Metric Trend 2025202420232022202120202019201820172016
Stock-based Comp $7.57B$5.74B$2.17B$1.53B$1.70B$1.98B$2.19B$1.23B$921M$679M
Deferred Tax $-2.03B$1.97B$-501M$-45M$-997M$-1.08B$-787M$-8.55B$-235M$418M
Amort. of Intangibles $8.06B$9.27B$3.25B···$5.24B$3.57B$4.29B$2.64B
Restructuring ··$29M$30M$113M$233M$746M$228M··
Operating Cash Flow $27.54B$19.96B$18.09B$16.74B$13.76B$12.06B$9.70B$8.88B$6.55B$3.41B
CapEx $623M$548M$452M$424M$443M$463M$432M$635M$1.07B$723M
Investing Cash Flow $-580M$-23.07B$-689M$-667M$-245M$-11.11B$-15.42B$-4.67B$-674M$-9.84B
Debt Issued $15.67B$39.95B$0$1.94B$9.90B$27.80B$28.79B$0$17.43B$19.51B
Net Debt Issued $15.67B$39.95B$0$1.94B$9.90B$27.80B$28.79B$0··
Stock Issued $221M$190M$122M$114M$170M$276M$253M$212M$257M·
Stock Repurchased $2.45B$7.18B$5.82B$7.00B$0$0$5.43B$7.26B$0$0
Net Stock Activity $-2.23B$-6.99B$-5.70B$-6.89B$170M$276M$-5.18B$-7.26B··
Dividends Paid $11.14B$9.81B$7.64B$7.03B$6.21B$5.53B$4.24B$3.00B$1.75B$750M
Financing Cash Flow $-20.13B$-1.73B$-15.62B$-15.82B$-8.97B$1.61B$6.49B$-11.12B$2.23B$7.70B
Net Change in Cash $6.83B$-4.84B$1.77B$253M$4.54B$2.56B$763M$-6.91B$8.11B$1.27B
Taxes Paid $2.59B$3.15B$1.78B$908M$775M$501M$741M$512M$349M$242M
Free Cash Flow $26.91B$19.41B$17.63B$16.31B$13.32B$11.60B$9.27B$8.24B··
Levered FCF ·$16.96B$16.12B$14.71B$11.44B$9.44B$7.49B$6.50B··
Profitability 8
Metric Trend 2025202420232022202120202019201820172016
Gross Margin 67.8%63.0%68.9%66.5%61.4%56.6%55.2%51.5%··
Operating Margin 39.9%26.1%45.2%42.8%31.0%16.8%15.2%24.6%··
Net Margin 36.2%11.4%39.3%34.6%24.5%12.4%12.0%58.8%··
Pretax Margin 35.6%19.2%42.1%37.5%24.6%10.2%9.8%21.8%··
EBITDA Margin 39.9%26.1%45.2%42.8%31.0%16.8%15.2%24.6%··
ROA 13.7%4.9%19.3%15.4%8.9%4.1%4.6%23.4%··
ROE 30.7%8.8%61.1%52.8%27.3%12.5%11.7%49.2%··
ROIC 30.7%12.2%59.2%56.9%13.1%7.5%7.3%32.3%··
Liquidity & Solvency 5
Metric Trend 2025202420232022202120202019201820172016
Current Ratio 1.71.22.82.62.61.91.43.9··
Quick Ratio 1.30.82.32.22.31.61.23.3··
Debt / Equity 0.00.00.10.01.61.71.30.7··
LT Debt / Equity ····1.61.71.20.7··
Interest Coverage ·3.410.08.24.52.32.48.2··
Efficiency 3
Metric Trend 2025202420232022202120202019201820172016
Asset Turnover 0.40.40.50.40.40.30.40.4··
Inventory Turnover 10.210.45.86.99.211.110.17.9··
Receivables Turnover 11.113.611.713.212.68.66.97.2··
Per Share 7
Metric Trend 2025202420232022202120202019201820172016
Book Value / Share $17.15$14.44$57.94$54.33$60.44$58.66$62.74$65.39··
Revenue / Share $13.16$10.79$83.89$78.49$63.99$56.74$53.93$48.37··
Cash Flow / Share $5.67$4.18$42.35$39.56$32.08$28.65$23.14$20.60··
Cash / Share $3.41$1.99$34.27$29.70$29.45$18.72$12.71$10.53··
Dividend / Share ·····$13.00$10.60$7.00$4.08·
Dividend Paid / Share $2.36$2.10$1.84$1.64$14.40$13.00$10.60$7.00$4.08$1.94
EPS (TTM) $4.77$1.23$3.30$2.65$15.00$6.33$6.43$28.44··
Growth Rates 10
Metric Trend 2025202420232022202120202019201820172016
Revenue YoY 23.9%44.0%7.9%21.0%14.9%·····
Revenue CAGR 3Y 24.4%23.4%14.5%·······
Revenue CAGR 5Y 21.7%·········
EPS YoY 287.8%-62.7%24.5%-82.3%137.0%·····
EPS CAGR 3Y 21.6%-56.6%-19.5%·······
EPS CAGR 5Y -5.5%·········
Net Income YoY 292.3%-58.1%22.5%70.7%127.6%·····
Net Income CAGR 3Y 26.2%-4.3%68.2%·······
Net Income CAGR 5Y 50.9%·········
Dividends Paid CAGR 5Y 15.0%·········
Valuation (TTM) 16
Metric Trend 2025202420232022202120202019201820172016
Revenue TTM $63.89B$51.57B$35.82B$33.20B$27.45B$23.89B$22.60B$20.85B··
Net Income TTM $23.13B$5.89B$14.08B$11.49B$6.74B$2.96B$2.72B$12.61B··
Market Cap $1.75T$791.56B$34.71B$19.77B$21.96B$14.23B$11.79B$9.00B··
Enterprise Value $1.74T$783.46B$22.08B$7.75B$49.52B$47.67B$39.53B$22.20B··
P/E 77.5137.325.417.83.55.54.60.8··
P/S 27.415.31.00.60.80.60.50.4··
P/B 21.611.71.40.90.90.60.50.3··
P / Cash Flow 63.639.71.91.21.61.21.21.0··
P / FCF 65.140.82.01.21.61.21.31.1··
EV / EBITDA 68.358.21.40.55.811.911.54.3··
EV / FCF 64.640.41.30.53.74.14.32.7··
EV / Revenue 27.215.20.60.21.82.01.71.1··
Dividend Yield 0.64%1.2%22.0%35.6%28.3%38.9%35.9%33.3%··
Earnings Yield 1.3%0.73%3.9%5.6%28.2%18.1%21.7%128.8%··
Payout Ratio 48.2%166.5%54.3%61.2%92.2%187.0%155.5%24.5%··
Annual Payout $11.14B$9.81B$7.64B$7.03B$6.21B$5.53B$4.24B$3.00B··

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-11-022024-11-032023-10-292022-10-302021-10-31
Revenue $63.89B $51.57B $35.82B $33.20B $27.45B
Gross Margin % 67.8% 63.0% 68.9% 66.5% 61.4%
Operating Margin % 39.9% 26.1% 45.2% 42.8% 31.0%
Net Income $23.13B $5.89B $14.08B $11.49B $6.74B
Diluted EPS $4.77 $1.23 $3.30 $2.65 $15.00

Institutional owners (13F) 5,261 filers · $1.6T total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 5,261
Value held $1.6T
New positions 336
Exited positions 130
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
336 (-27 vs prior Q) 130 (-83 vs prior Q) 2,310 (-40 vs prior Q) 1,893 (+118 vs prior Q) +97.7M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $167,064,997,221 482,707,302 10.65% Shares
BlackRock, Inc. $150,425,272,865 398,213,826 9.59% Shares
VANGUARD CAPITAL MANAGEMENT LLC $116,788,431,850 309,168,582 7.44% Shares
STATE STREET CORP $74,379,179,363 196,900,541 4.74% Shares
FMR LLC $54,531,677,402 144,359,173 3.48% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $47,974,821,538 127,001,513 3.06% Shares
Capital World Investors $46,043,125,039 121,892,859 2.93% Shares
GEODE CAPITAL MANAGEMENT, LLC $43,862,120,689 116,394,795 2.80% Shares
Capital Research Global Investors $42,731,528,140 113,126,312 2.72% Shares
JPMORGAN CHASE & CO $35,388,764,805 95,016,148 2.26% Shares
Capital International Investors $30,902,247,270 81,822,766 1.97% Shares
MORGAN STANLEY $29,856,600,837 79,037,987 1.90% Shares
Invesco Ltd. $26,134,380,446 69,184,330 1.67% Shares
NORGES BANK $24,920,540,717 65,970,988 1.59% Shares
BANK OF AMERICA CORP /DE/ $23,202,543,061 61,423,013 1.48% Shares
WELLINGTON MANAGEMENT GROUP LLP $19,484,610,559 51,580,703 1.24% Shares
NORTHERN TRUST CORP $18,204,671,167 48,192,379 1.16% Shares
GOLDMAN SACHS GROUP INC $14,800,276,824 39,180,084 0.94% Shares
Nuveen, LLC $12,800,119,951 33,885,162 0.82% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $12,617,606,280 33,404,003 0.80% Shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $12,083,249,353 39,039,932 0.77% Shares
Legal & General Group Plc $11,998,147,636 31,762,138 0.76% Shares
Bank of New York Mellon Corp $10,528,191,323 27,870,791 0.67% Shares
VANGUARD FIDUCIARY TRUST CO $10,270,285,510 27,188,049 0.65% Shares
Amundi $10,097,093,705 26,729,788 0.64% Shares
AMERIPRISE FINANCIAL INC $10,023,165,254 26,532,842 0.64% Shares
WELLS FARGO & COMPANY/MN $9,499,503,628 25,147,594 0.61% Shares
UBS Group AG $9,496,622,535 25,139,967 0.61% Shares
FRANKLIN RESOURCES INC $9,326,880,689 24,690,618 0.59% Shares
JANE STREET GROUP, LLC $8,930,312,200 23,640,800 0.57% Put option
JENNISON ASSOCIATES LLC $8,086,170,476 21,406,143 0.52% Shares
ROYAL BANK OF CANADA $7,751,104,000 20,519,138 0.49% Shares
ALLIANCEBERNSTEIN L.P. $7,124,299,013 23,017,993 0.45% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $6,652,933,000 17,612,000 0.42% Call option
RAYMOND JAMES FINANCIAL INC $6,204,257,694 16,424,241 0.40% Shares
JANUS HENDERSON GROUP PLC $5,962,504,479 19,350,859 0.38% Shares
Fisher Asset Management, LLC $5,715,990,096 15,131,673 0.36% Shares
DEUTSCHE BANK AG\ $5,661,216,105 14,986,674 0.36% Shares
VAN ECK ASSOCIATES CORP $5,602,051,765 14,830,051 0.36% Shares
HSBC HOLDINGS PLC $5,573,615,583 14,781,948 0.36% Shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ $5,459,679,444 12,084,090 0.35% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $5,354,266,275 14,174,100 0.34% Put option
BARCLAYS PLC $5,165,698,774 13,674,914 0.33% Shares
JANE STREET GROUP, LLC $5,160,707,175 13,661,700 0.33% Call option
Swedbank AB $4,973,901,494 13,167,178 0.32% Shares
DIMENSIONAL FUND ADVISORS LP $4,942,086,882 13,083,654 0.31% Shares
CANADA PENSION PLAN INVESTMENT BOARD $4,920,177,507 13,024,957 0.31% Shares
Swiss National Bank $4,792,246,048 12,686,290 0.31% Shares
California Public Employees Retirement System $4,715,493,292 12,483,106 0.30% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $4,457,582,590 11,800,351 0.28% Shares

Show all 5,261 institutional owners →

Company insiders 21 insiders · 8 officers · 14 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Hock E Tan President and CEO April 8, 2026 G 110,836 0 16 $-101,258,137
Amie Thuener O'Toole Chief Financial Officer Sept. 15, 2026 F 48,597 0 0 $0
Kirsten M. Spears CFO & Chief Accounting Officer March 17, 2026 S 327,760 0 45 $-31,915,638
Ram S. Velaga President, ISG April 10, 2026 S 57,932 0 21 $-34,421,362
Charlie B Kawwas President, SSG April 8, 2026 S 787,184 0 43 $-25,472,162
Thomas H. Krause President of Broadcom SW Group March 16, 2022 S 36,960 0 0 $0
Mark David Brazeal Chief Legal & Corp Affairs Ofc Sept. 15, 2026 F 186,930 0 85 $-99,869,400
Bryan Ingram SVP & GM, Wireless Semicon Div June 26, 2019 S 70,090 0 0 $0
Henry Samueli Director Sept. 23, 2026 G 35,810,224 0 64 $-878,309,891
Gayla J Delly Director July 10, 2026 G 30,826 0 2 $-1,086,678
Justine Lien Director June 29, 2026 S 17,426 0 5 $-2,145,822
Harry L. You Director June 11, 2026 P 38,466 2 0 $698,700
Check Kian Low Director April 20, 2026 F 115,247 0 0 $0
Diane M Bryant Director April 20, 2026 A 8,926 0 0 $0
Kenneth Hao Director April 20, 2026 A 4,806 0 0 $0
Eddy W Hartenstein Director April 21, 2025 A 3,492 0 0 $0
FERNANDEZ RAUL J Director April 3, 2023 A 1,610 0 0 $0
Peter J Marks Director April 1, 2019 A 33,787 0 0 $0
Donald Macleod Director Jan. 7, 2019 M 54,565 0 0 $0
Lewis C Eggebrecht Director Dec. 14, 2018 M 9,954 0 0 $0
James Diller Director April 4, 2018 A 24,704 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 272 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
AVL · Direxion Shares ETF Trust 17.78% 85,738 NS July 31, 2026 N-PORT
TRFK · Pacer Funds Trust 9.08% 222,564 NS July 31, 2026 N-PORT
SOXQ · Invesco Exchange-Traded Fund Trust … 8.67% 785,128 SH Oct. 1, 2026 Daily
SEMI · Columbia ETF Trust I 8.46% 8,173 NS July 31, 2026 N-PORT
JXX · Janus Detroit Street Trust 8.00% 5,481 NS July 31, 2026 N-PORT
IETC · iShares U.S. ETF Trust 7.93% 150,954 SH Sept. 11, 2026 Daily
TDVI · First Trust Exchange-Traded Fund IV 7.78% 104,729 NS July 31, 2026 N-PORT
KNCT · Invesco Exchange-Traded Fund Trust 7.53% 35,294 SH Oct. 1, 2026 Daily
IGM · iShares Trust 7.42% 2,178,281 SH Sept. 11, 2026 Daily
LRND · New York Life Investments ETF Trust 7.30% 74,748 NS July 31, 2026 N-PORT
VYM · VANGUARD WHITEHALL FUNDS 7.29% 18,569,985 SH Aug. 19, 2026 Daily
SOXX · iShares Trust 7.20% 8,645,761 SH Sept. 11, 2026 Daily
TTXU · Direxion Shares ETF Trust 7.01% 829 NS July 31, 2026 N-PORT
GRW · TCW ETF Trust 6.98% 11,618 NS July 31, 2026 N-PORT
NUGO · Nushares ETF Trust 6.98% 437,683 NS July 31, 2026 N-PORT
FEPI · ETF Opportunities Trust 6.95% 115,568 NS July 31, 2026 N-PORT
USXF · iShares Trust 6.57% 268,510 SH Sept. 11, 2026 Daily
NULG · Nushares ETF Trust 6.36% 435,477 NS July 31, 2026 N-PORT
WINN · Harbor ETF Trust 6.33% 183,699 NS July 31, 2026 N-PORT
IWLG · New York Life Investments Active ET… 6.29% 50,444 NS July 31, 2026 N-PORT
HFGO · Hartford Funds Exchange-Traded Trust 6.14% 31,684 NS July 31, 2026 N-PORT
AIFD · TCW ETF Trust 5.89% 18,962 NS July 31, 2026 N-PORT
CHPY · Tidal Trust II 5.88% 154,455 NS July 31, 2026 N-PORT
JHAI · Janus Detroit Street Trust 5.52% 3,315 NS July 31, 2026 N-PORT
IWY · iShares Trust 5.51% 2,381,650 SH Sept. 11, 2026 Daily
SOXL · Direxion Shares ETF Trust 5.49% 2,743,814 NS July 31, 2026 N-PORT
SEMG · EA Series Trust 5.42% 8,700 NS July 31, 2026 N-PORT
PEXL · Pacer Funds Trust 5.29% 6,884 NS July 31, 2026 N-PORT
TEC · Harbor ETF Trust 5.27% 861 NS July 31, 2026 N-PORT
ILCG · iShares Trust 5.26% 453,284 SH Sept. 11, 2026 Daily
VONG · VANGUARD SCOTTSDALE FUNDS 5.20% 7,365,388 SH Aug. 19, 2026 Daily
FMAG · FIDELITY COVINGTON TRUST 5.18% 32,749 NS July 31, 2026 N-PORT
RILA · Spinnaker ETF Series 5.17% 5,598 NS July 31, 2026 N-PORT
QUSA · Tidal Trust III 5.11% 2,818 NS July 31, 2026 N-PORT
IWF · iShares Trust 5.10% 17,484,826 SH Sept. 11, 2026 Daily
EGUS · iShares Trust 5.09% 3,894 SH Sept. 11, 2026 Daily
VOOG · VANGUARD ADMIRAL FUNDS 5.03% 3,518,106 SH Aug. 19, 2026 Daily
CARK · Advisors' Inner Circle Fund II 5.03% 41,235 NS July 31, 2026 N-PORT
AGRW · ALLSPRING EXCHANGE-TRADED FUNDS TRU… 5.00% 14,494 NS July 31, 2026 N-PORT
LCLG · Advisors Series Trust 4.98% 13,774 NS July 31, 2026 N-PORT
LCOW · Pacer Funds Trust 4.97% 3,303 NS July 31, 2026 N-PORT
CAML · Professionally Managed Portfolios 4.97% 47,135 NS July 31, 2026 N-PORT
ESG · FlexShares Trust 4.95% 16,800 NS July 31, 2026 N-PORT
SOXY · Tidal Trust II 4.90% 8,062 NS July 31, 2026 N-PORT
ESGG · FlexShares Trust 4.89% 13,870 NS July 31, 2026 N-PORT
SPTE · SP Funds Trust 4.84% 26,256 NS July 31, 2026 N-PORT
IVES · Wedbush Series Trust 4.83% 122,402 NS July 31, 2026 N-PORT
IVW · iShares Trust 4.79% 10,098,170 SH Sept. 11, 2026 Daily
IXN · iShares Trust 4.67% 1,213,127 SH Sept. 11, 2026 Daily
QDEF · FlexShares Trust 4.67% 65,436 NS July 31, 2026 N-PORT
IUSG · iShares Trust 4.56% 4,168,569 SH Sept. 11, 2026 Daily
VIG · VANGUARD SPECIALIZED FUNDS 4.53% 15,543,375 SH Aug. 19, 2026 Daily
ALRG · ALLSPRING EXCHANGE-TRADED FUNDS TRU… 4.47% 962 NS July 31, 2026 N-PORT
GPTY · Tidal Trust II 4.41% 11,527 NS July 31, 2026 N-PORT
FBCG · FIDELITY COVINGTON TRUST 4.38% 778,618 NS July 31, 2026 N-PORT
MPLY · Strategy Shares 4.33% 1,770 NS July 31, 2026 N-PORT
CHAT · Tidal Trust II 4.31% 196,666 NS July 31, 2026 N-PORT
VUG · VANGUARD INDEX FUNDS 4.27% 42,968,531 SH Aug. 19, 2026 Daily
IWFG · New York Life Investments Active ET… 4.27% 6,640 NS July 31, 2026 N-PORT
MGK · VANGUARD WORLD FUND 4.26% 3,766,293 SH Aug. 19, 2026 Daily
AQLT · iShares Trust 4.26% 38,476 SH Sept. 11, 2026 Daily
SAWG · ETF Series Solutions 4.24% 314 NS July 31, 2026 N-PORT
PWRD · TCW ETF Trust 4.22% 157,647 NS July 31, 2026 N-PORT
FTEC · FIDELITY COVINGTON TRUST 4.20% 2,139,908 NS July 31, 2026 N-PORT
GLBL · Pacer Funds Trust 4.18% 119 NS July 31, 2026 N-PORT
IOO · iShares Trust 4.14% 1,036,150 SH Sept. 11, 2026 Daily
TOPT · iShares Trust 4.12% 76,475 SH Sept. 11, 2026 Daily
ESLG · Strategy Shares 4.11% 2,454 NS July 31, 2026 N-PORT
ARTY · iShares Trust 4.10% 457,321 SH Sept. 11, 2026 Daily
VEGN · ETF Series Solutions 4.09% 18,653 NS July 31, 2026 N-PORT
FDLO · FIDELITY COVINGTON TRUST 4.08% 149,041 NS July 31, 2026 N-PORT
IYW · iShares Trust 4.07% 2,822,466 SH Sept. 11, 2026 Daily
PEVC · Pacer Funds Trust 4.02% 248 NS July 31, 2026 N-PORT
QDF · FlexShares Trust 4.01% 228,618 NS July 31, 2026 N-PORT
XLG · Invesco Exchange-Traded Fund Trust 3.95% 1,315,456 SH Oct. 1, 2026 Daily
PFM · Invesco Exchange-Traded Fund Trust 3.93% 86,267 SH Oct. 1, 2026 Daily
ABOT · Abacus FCF ETF Trust 3.90% 405 NS July 31, 2026 N-PORT
VGT · VANGUARD WORLD FUND 3.84% 17,278,066 SH Aug. 19, 2026 Daily
QFLR · Innovator ETFs Trust 3.82% 51,438 NS July 31, 2026 N-PORT
FDRR · FIDELITY COVINGTON TRUST 3.80% 71,941 NS July 31, 2026 N-PORT
NULC · Nushares ETF Trust 3.78% 6,838 NS July 31, 2026 N-PORT
TGLB · T. Rowe Price Exchange-Traded Funds… 3.77% 2,542 NS July 31, 2026 N-PORT
GIAX · Tidal Trust II 3.76% 9,843 NS July 31, 2026 N-PORT
NRSH · Tidal Trust I 3.70% 2,849 NS July 31, 2026 N-PORT
QTOP · iShares Trust 3.67% 28,807 SH Sept. 11, 2026 Daily
TECL · Direxion Shares ETF Trust 3.61% 473,725 NS July 31, 2026 N-PORT
AIBU · Direxion Shares ETF Trust 3.60% 2,123 NS July 31, 2026 N-PORT
PABU · iShares Trust 3.60% 249,246 SH Sept. 11, 2026 Daily
HQGO · Lattice Strategies Trust 3.59% 4,539 NS July 31, 2026 N-PORT
OEF · iShares Trust 3.58% 2,002,234 SH Sept. 11, 2026 Daily
FDMO · FIDELITY COVINGTON TRUST 3.53% 81,918 NS July 31, 2026 N-PORT
FVAL · FIDELITY COVINGTON TRUST 3.42% 116,807 NS July 31, 2026 N-PORT
FNGG · Direxion Shares ETF Trust 3.41% 10,577 NS July 31, 2026 N-PORT
BIGY · Tidal Trust II 3.41% 4,756 NS July 31, 2026 N-PORT
MGC · VANGUARD WORLD FUND 3.37% 946,566 SH Aug. 19, 2026 Daily
FQAL · FIDELITY COVINGTON TRUST 3.36% 122,064 NS July 31, 2026 N-PORT
LGDX · Tidal Trust III 3.20% 11,671 NS July 31, 2026 N-PORT
FFLG · FIDELITY COVINGTON TRUST 3.19% 48,314 NS July 31, 2026 N-PORT
PWB · Invesco Exchange-Traded Fund Trust 3.15% 243,233 SH Oct. 1, 2026 Daily
BDIV · ETF Series Solutions 3.15% 540 NS July 31, 2026 N-PORT
QYLD · Global X Funds 3.11% 647,432 NS July 31, 2026 N-PORT
FDVV · FIDELITY COVINGTON TRUST 3.11% 810,267 NS July 31, 2026 N-PORT
HEQQ · J.P. Morgan Exchange-Traded Fund Tr… 3.10% 2,384 NS July 31, 2026 N-PORT
QRMI · Global X Funds 3.10% 1,137 NS July 31, 2026 N-PORT
INFO · Harbor ETF Trust 3.09% 66,878 NS July 31, 2026 N-PORT
QYLG · Global X Funds 3.09% 12,560 NS July 31, 2026 N-PORT
QQWZ · Pacer Funds Trust 3.06% 3,996 NS July 31, 2026 N-PORT
PTNQ · Pacer Funds Trust 3.06% 93,906 NS July 31, 2026 N-PORT
USCL · iShares Trust 3.06% 239,217 SH Sept. 11, 2026 Daily
TSXU · Direxion Shares ETF Trust 3.06% 995 NS July 31, 2026 N-PORT
HELO · J.P. Morgan Exchange-Traded Fund Tr… 3.02% 357,702 NS July 31, 2026 N-PORT
CATH · Global X Funds 3.01% 100,809 NS July 31, 2026 N-PORT
ESGV · VANGUARD WORLD FUND 3.01% 1,051,897 SH Aug. 19, 2026 Daily
OEI · Listed Funds Trust 3.01% 3,580 NS July 31, 2026 N-PORT
QTR · Global X Funds 2.98% 583 NS July 31, 2026 N-PORT
IWL · iShares Trust 2.97% 180,749 SH Sept. 11, 2026 Daily
WRND · New York Life Investments ETF Trust 2.96% 794 NS July 31, 2026 N-PORT
QLC · FlexShares Trust 2.94% 76,608 NS July 31, 2026 N-PORT
FBUF · Fidelity Greenwood Street Trust 2.93% 1,799 NS July 31, 2026 N-PORT
XVV · iShares Trust 2.92% 54,481 SH Sept. 11, 2026 Daily
QCLR · Global X Funds 2.92% 248 NS July 31, 2026 N-PORT
XYLD · Global X Funds 2.90% 241,068 NS July 31, 2026 N-PORT
FHEQ · Fidelity Greenwood Street Trust 2.89% 69,074 NS July 31, 2026 N-PORT
XRMI · Global X Funds 2.89% 3,709 NS July 31, 2026 N-PORT
XYLG · Global X Funds 2.88% 4,736 NS July 31, 2026 N-PORT
FYEE · Fidelity Greenwood Street Trust 2.87% 16,091 NS July 31, 2026 N-PORT
ADME · ETF Series Solutions 2.86% 21,552 NS July 31, 2026 N-PORT
FLRG · FIDELITY COVINGTON TRUST 2.86% 21,335 NS July 31, 2026 N-PORT
PTLC · Pacer Funds Trust 2.86% 239,385 NS July 31, 2026 N-PORT
XTR · Global X Funds 2.86% 353 NS July 31, 2026 N-PORT
ACIO · ETF Series Solutions 2.86% 172,679 NS July 31, 2026 N-PORT
CHRI · Global X Funds 2.85% 584 NS July 31, 2026 N-PORT
XCLR · Global X Funds 2.84% 260 NS July 31, 2026 N-PORT
QVML · Invesco Exchange-Traded Fund Trust … 2.84% 134,069 SH Oct. 1, 2026 Daily
BKCG · BNY Mellon ETF Trust II 2.84% 8,728 NS July 31, 2026 N-PORT
ESUM · Strategy Shares 2.83% 13,254 NS July 31, 2026 N-PORT
VV · VANGUARD INDEX FUNDS 2.82% 5,529,590 SH Aug. 19, 2026 Daily
QSIX · Pacer Funds Trust 2.81% 1,326 NS July 31, 2026 N-PORT
BBUS · J.P. Morgan Exchange-Traded Fund Tr… 2.81% 641,653 NS July 31, 2026 N-PORT
VOTE · TCW ETF Trust 2.79% 78,696 NS July 31, 2026 N-PORT
TOPC · iShares Trust 2.79% 2,537 SH Sept. 11, 2026 Daily
BKLC · BNY Mellon ETF Trust 2.79% 391,625 NS July 31, 2026 N-PORT
GDIV · Harbor ETF Trust 2.78% 16,828 NS July 31, 2026 N-PORT
VOO · VANGUARD INDEX FUNDS 2.77% 122,987,848 SH Aug. 19, 2026 Daily
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AVGO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 57 analysts BUY
Median target $535.00 +50.6%
17 29.8% Strong Buy
35 61.4% Buy
5 8.8% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

47 analysts · 2026-09-28

Mean target $531.85 +49.8%

Now Current price $355.14
Low$215.88 Mean$531.85 High$715.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
AVGO $1.75T 77.5 23.9% 36.2% 30.7% 67.8%
NVDA $4.57T 38.3 65.5% 55.6% 93.3% 71.1%
MU $136.88B 16.1 48.9% 22.8% 16.6% 39.8%
AMD · 81.1 34.3% · · ·
INTC $180.78B -603.3 -0.47% -0.51% -0.25% 34.8%
TXN · 31.8 13.1% 28.3% 30.1% 57.0%
MRVL $68.75B 26.4 42.1% 32.6% 19.3% 51.0%
ADI $114.64B 51.3 16.9% 20.6% 6.6% 61.5%
QCOM $181.72B 33.8 13.7% 12.5% 22.7% ·
MPWR $44.15B 70.5 26.4% 22.3% 18.0% 55.2%
ALAB $28.31B 136.4 115.1% 25.7% 17.5% 75.7%

Latest News Recent headlines mentioning this company

23

AVGO AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

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Panel Verdict NEUTRAL Confidence 0.70 4 of 4 reported forecast spread ·

Broadcom is a high-stakes bet on AI infrastructure where massive profitability clashes with a premium valuation. Grok remains bullish, citing superior capital efficiency and custom chip wins, while Claude, Gemini, and ChatGPT warn that a 71x P/E leaves zero margin for error. The panel split on whether Broadcom's 36.2% net margin justifies its price or if heavy customer concentration with hyperscalers creates an unacceptable risk of a sharp re-rating if AI spending cools.

Round 1 — Opening Takes

Grok BULLISH
Confidence 0.80
↑ Bullish

I see Broadcom dominating AI infrastructure with custom chips for hyperscalers like Meta, fueling revenue acceleration into 2026. AI revenue doubled to $8.4 billion in Q1 FY2026, as reported on April 17, showing hyperscaler demand is exploding and Broadcom's design wins are locking in multi-year deals. ROE climbed to 31.5%, topping peers like TXN at 30% and MU at 22%, which means superior capital efficiency from high-margin software blending with semis. Net margin rose to 36.2%, proving pricing power that funds AI expansion without diluting returns.

↓ Bearish

My read is Broadcom's frothy valuation demands flawless AI execution, but any slowdown risks a sharp pullback. P/E sits at 71, far above NVDA's 46 and the peer median, signaling the market has priced in years of perfection with no margin for misses. P/B jumped to 21 from 11.6 prior quarter, which exposes shareholders to downside if growth falters amid competition. Debt/equity at 80% remains elevated despite improvement, meaning leverage amplifies risks if cash flows from AI disappoint.

Claude NEUTRAL
Confidence 0.68
↑ Bullish

Broadcom is capturing structural AI infrastructure demand with proven customer stickiness and pricing power. AI revenue doubled to $8.4 billion in Q1, and the Meta deal expansion signals long-term contract wins in a market where capacity constraints favor incumbents. EPS grew 21% quarter-over-quarter to $4.76, and net margin expanded to 36.2% — that margin tells you the company is converting AI revenue into real profit, not just top-line noise. Debt-to-equity fell to 80.13 from 96.69 a year ago, showing the business generates enough cash to deleverage while investing.

↓ Bearish

The valuation has already priced in years of AI growth at a P/E of 70.96 — nearly 2.6 times Nvidia's 45.7 — despite Broadcom's ROE of 31.47% being half of Nvidia's 103.8%. That gap matters: Nvidia turns shareholder capital into profit at a structurally superior rate, yet trades at a discount. Price has rallied 35% in six weeks on Meta news, which is real but not new to the AI thesis. If AI capex cycles normalize or customer concentration risk materializes around Meta and hyperscalers, multiple compression could be severe. The stock is pricing perfection.

Gemini NEUTRAL
Confidence 0.75
↑ Bullish

Broadcom is successfully cementing itself as the indispensable utility provider for the AI infrastructure boom. The company’s AI revenue doubled to $8.4 billion in the most recent quarter, which confirms they are capturing massive, recurring demand from hyperscalers like Meta. This is a 36.2% net profit margin business. That level of profitability means they are converting over a third of every sales dollar directly into bottom-line cash, providing a massive cushion for future R&D. With a current ratio of 1.71, they have plenty of liquidity to fund these long-term custom chip partnerships without needing to tap expensive capital markets.

↓ Bearish

The valuation has simply detached from the underlying growth reality, leaving investors with almost zero margin for error. We are looking at a 70.96 P/E ratio. That multiple means the market is pricing in near-perfect execution for years to come, which is a dangerous bet in a cyclical semiconductor industry. Furthermore, a price-to-sales ratio of 25.69 suggests the stock is trading at a significant premium relative to its historical averages. When you pay that much for revenue, any minor slowdown in AI capital expenditure from their major partners could cause this stock to re-rate sharply to the downside.

Chatgpt NEUTRAL
Confidence 0.63
↑ Bullish

I think Broadcom's AI-driven data-center momentum and infrastructure leadership set up a strong bullish case. ROE TTM is 31.47%. That means Broadcom is turning equity into profits at a high rate, signaling efficient capital use that supports a higher valuation. Gross margin TTM is 67.89%. That margin underpins cash flow quality and the ability to fund AI investments while preserving profitability. EPS TTM is 4.76. That shows a solid earnings base that could scale as AI demand accelerates, especially with Meta's expanding partnership.

↓ Bearish

I think the biggest risk here is valuation and AI spending uncertainty that could compress the multiple. P/E TTM is 70.96x. That leaves little cushion if AI growth slows or margins come under pressure. Debt/Equity is 80.13. That leverage heightens refinancing risk and weakens downside protection in a downturn. P/B annual is 21.06x. That suggests investors are paying well above asset value for growth, so any hiccup could cause a sharp re-rating.

Round 2 — Responses & Rebuttals

Round 2 — Responses & Rebuttals

Grok

Claude, your bear case overemphasizes Nvidia's ROE superiority while ignoring Broadcom's edge over other semis peers. Nvidia's 104% ROE is an outlier from pure GPU dominance, but Broadcom's 31% tops TXN at 30% and MU at 22%, signaling better capital efficiency in diversified AI infrastructure like custom chips and networking. That peer-beating return, plus declining debt/equity to 80 from 97, supports holding through valuation debates without assuming perfection.

Claude

I need to push back on Grok's ROE comparison. Grok says Broadcom's 31.5% ROE tops peers like Texan Instruments at 30% and Micron at 22%, but that misses the real peer set here. Nvidia's ROE is 103.8% — more than three times Broadcom's. When we're talking about AI infrastructure dominance, Nvidia is the actual comp, not TXN. Broadcom's ROE is solid for a diversified chipmaker, but it's not superior capital efficiency in the AI race. That gap between 31% and 104% is the entire valuation story Grok glossed over.

Gemini

Grok, I disagree with your buy rating because you are underestimating the valuation risk inherent in the current P/E of 70.96. That multiple implies investors are paying over 70 dollars for every single dollar of earnings, which leaves virtually no room for error if the hyperscaler spending cycle hits a speed bump. While you correctly highlight the efficiency gains in the 31.47% ROE, that metric represents how effectively management uses shareholder capital to generate profit, and at today's price, you are simply overpaying for that efficiency compared to cheaper, high-growth alternatives.

Chatgpt

Claude, your point about the P/E 70.96 is valid, but the takeaway is about the risk-reward of paying up for AI growth. That implies the market is pricing in years of AI-driven growth. That premium leaves little cushion if AI capex slows or if Meta/customer concentration becomes volatile. Broadcom's profitability and cash flow quality provide some defense of that premium, but leverage and cyclicality keep the risk in play into 2026Q2.

Round 3 — Final Rebuttals

Round 3 — Final Rebuttals

Grok

ChatGPT, I side with Claude over your bearish read on debt/equity — Broadcom's balance sheet is strengthening meaningfully into 2026Q2. Debt/equity dropped to 80.13 from 96.69 a year ago. That decline proves the business generates ample cash to shed leverage while funding AI wins like the Meta expansion, cutting interest costs and boosting flexibility if rates stay high. Current ratio rose to 1.71. That liquidity above 1.0 confirms short-term obligations are covered comfortably, mitigating the refinancing risk you flagged.

Claude

I want to push back on something nobody challenged yet: Grok's claim that Broadcom's 31% ROE 'tops peers like TXN at 30% and MU at 22%.' That's cherry-picking the peer set to win an argument. The real issue is customer concentration. Meta and hyperscalers likely represent 40–50% of Broadcom's AI revenue right now — we don't have exact breakouts, but the news flow screams it. When one customer segment drives that much of your growth story, a single capex pause from Meta or a shift to internal chip design tanks the thesis overnight. Grok's buy case assumes Broadcom locks in hyperscaler loyalty, but custom chips are sticky only until they're not. That's the risk nobody quantified yet.

Gemini

I want to challenge Grok and Claude on the customer concentration risk, which is the elephant in the room for Broadcom. Both of you are treating the Meta partnership as a pure win, but Broadcom’s revenue is heavily tethered to a handful of hyperscalers, and that creates a massive single-point-of-failure risk. If those specific firms pivot their internal design roadmaps or shift capital away from custom silicon, Broadcom’s revenue growth could stall overnight. We are looking at a P/S ratio of 25.69, which is the price investors pay for every dollar of sales. At that valuation, you are betting on perfect, uninterrupted spending from a very small client base.

Chatgpt

Claude, I want to widen the frame to regulatory and customer-concentration risks that could move AVGO in 2026Q2. AI revenue is running at about $8.4 billion in Q1 FY2026. That momentum confirms Broadcom's role in AI infrastructure and supports cash flow quality, but the stock's valuation already prices in that growth. Regulatory risk is real: US export controls on advanced AI chips and potential EU scrutiny could constrain future deals with hyperscalers. Additionally, customer concentration with hyperscalers like Meta could amplify any deal slowdown.

Price Forecasts

Model 3M Target 6M Target Reasoning
Grok $215.00 $245.00 Broadcom's custom AI chips are locking in multi-year hyperscaler deals, driving revenue acceleration that justifies 12-27% upside from $192 despite the high P/E. The key catalyst is Q2 FY2026 earnings in late July 2026, where AI revenue guidance exceeding $10 billion would confirm Meta expansion momentum and crush concentration fears. The big risk is a Meta capex pause announcement, which could trigger 20% multiple compression overnight. At a $245 target, forward P/E compresses to around 50x on $5.50 EPS -- a premium still, but fair for 30%+ AI growth outpacing semis peers.
Claude $215.00 $235.00 Broadcom's AI infrastructure moat is real, but the stock has already priced in years of flawless execution at a 71x P/E — nearly 1.6x Nvidia's multiple despite half the capital efficiency. My thesis: the stock re-rates lower over six months as the market digests customer concentration risk and normalizes the multiple toward 50–55x, a fair premium for 30%+ ROE in a cyclical industry. Catalyst: Meta's Q2 2026 earnings guidance on AI capex trajectory — any moderation triggers multiple compression. Risk: hyperscaler capex accelerates beyond consensus, validating the premium. At 71x earnings, Broadcom needs zero margin for error; at 50x, it becomes defensible. I'm holding my hold rating but expect downside to $215 in three months, stabilizing near $235 by Q2 2026 as the multiple settles.
Gemini $205.00 $220.00 I believe Broadcom will drift higher as it integrates its custom silicon wins, but the stock remains capped by its extreme valuation. My 6-month target relies on the Q3 earnings call, where I expect management to confirm that AI-driven custom chip demand is offsetting legacy weakness. The primary risk is a contraction in hyperscaler capex, which would shatter the growth narrative. We are currently seeing a price-to-sales ratio of 25.69. This metric means investors are paying over 25 dollars for every dollar of sales, an expensive bet that leaves no room for disappointment. I am holding my position because the current 36.2% net margin provides a solid foundation for long-term survival.
Chatgpt $198.00 $215.00 I think Broadcom can drift higher in the near term if AI infrastructure demand stays intact, but the upside is capped by a lofty valuation. Catalyst: the upcoming earnings print, with AI revenue continuing to accelerate and Meta expanding partnerships, would validate the growth trajectory. Risk: a sudden slowdown in hyperscale capex or regulatory constraints could compress multiples and spark a pullback. Metric: P/E around 71. That means investors are paying for years of flawless AI-driven growth, which leaves little cushion if demand cools.

Trading Signals Recent buy/sell signals with entry price and risk/reward ratio

25

No open signal right now — no card is filled, and that's honest.

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26

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Source: SEC 10-Q filed Sep 10, 2026