AVGO Broadcom Inc. - Common Stock
NASDAQ · Semiconductors · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Sep 10, 2026AVGO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
AVGO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Bar granularity adapts to the selected period — hover the chart to see open/high/low/close for a bar.
| Ex-date | Split | Type |
|---|---|---|
| July 15, 2024 | 10-for-1 | Forward |
About Broadcom Inc. - Common Stock Company overview from Wikipedia
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 ↗
10-Year Performance Revenue, net income, margins and EPS trends
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.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | AVGO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 68.8%5Y avg ≈65.5% | ≈65.5% | 61.4% | Top tier | |
| Operating Margin (TTM) | 48.0%5Y avg ≈37.0% | ≈37.0% | 35.5% | Top tier | |
| EBITDA Margin | 39.9%5Y avg ≈37.0% | ≈37.0% | 35.5% | Top tier | |
| Pretax Margin (TTM) | 45.4%5Y avg ≈31.8% | ≈31.8% | 37.8% | Top tier | |
| Net Profit Margin (TTM) | 42.9%5Y avg ≈29.2% | ≈29.2% | 29.8% | Top tier | |
| ROA (TTM) | 21.6%5Y avg ≈12.5% | ≈12.5% | 11.9% | In line | |
| ROE (TTM) | 44.2%5Y avg ≈36.1% | ≈36.1% | 18.6% | Top tier | |
| ROIC | 30.7%5Y avg ≈34.4% | ≈34.4% | 15.5% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | AVGO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.65Y avg ≈0.3 | ≈0.3 | 0.3 | High debt | |
| Current Ratio (MRQ) | 2.55Y avg ≈2.2 | ≈2.2 | 2.6 | In line | |
| Quick Ratio | 1.35Y avg ≈1.8 | ≈1.8 | 1.7 | In line | |
| Long-Term Debt / Equity (MRQ) | 0.6 | · | 0.4 | High debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | AVGO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 23.9%5Y avg ≈22.3% | ≈22.3% | · | · | |
| Revenue CAGR 3Y | 24.4%5Y avg ≈20.7% | ≈20.7% | · | · | |
| Revenue CAGR 5Y | 21.7% | · | · | · | |
| EPS YoY | 287.8%5Y avg ≈60.8% | ≈60.8% | · | · | |
| Net Income YoY | 292.3%5Y avg ≈91.0% | ≈91.0% | · | · | |
| EPS CAGR 3Y | 21.6%5Y avg ≈-18.1% | ≈-18.1% | · | · | |
| EPS CAGR 5Y | -5.5% | · | · | · | |
| Net Income CAGR 3Y | 26.2%5Y avg ≈30.0% | ≈30.0% | · | · | |
| Net Income CAGR 5Y | 50.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | AVGO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.4 | ≈0.4 | 0.4 | Weak | |
| Inventory Turnover | 10.25Y avg ≈8.5 | ≈8.5 | 2.8 | Top tier | |
| Receivables Turnover | 11.15Y avg ≈12.4 | ≈12.4 | 8.8 | Top tier | |
| Revenue / Employee | ≈$1.9M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 21, 2026 | $0.65 | USD | ≈0.72% |
| Jun 22, 2026 | $0.65 | USD | ≈0.65% |
| Mar 23, 2026 | $0.65 | USD | ≈0.77% |
| Dec 22, 2025 | $0.65 | USD | ≈0.71% |
| Sep 22, 2025 | $0.59 | USD | ≈0.70% |
| Jun 20, 2025 | $0.59 | USD | ≈0.92% |
| Mar 20, 2025 | $0.59 | USD | ≈1.2% |
| Dec 23, 2024 | $0.59 | USD | ≈0.93% |
| Sep 19, 2024 | $0.53 | USD | ≈1.3% |
| Jun 24, 2024 | $0.53 | USD | ≈1.3% |
| Mar 20, 2024 | $0.53 | USD | ≈1.5% |
| Dec 19, 2023 | $0.53 | USD | ≈1.7% |
| Sep 20, 2023 | $0.46 | USD | ≈2.2% |
| Jun 21, 2023 | $0.46 | USD | ≈2.1% |
| Mar 21, 2023 | $0.46 | USD | ≈2.7% |
| Dec 19, 2022 | $0.46 | USD | ≈3.1% |
| Sep 21, 2022 | $0.41 | USD | ≈3.4% |
| Jun 21, 2022 | $0.41 | USD | ≈3.2% |
| Mar 21, 2022 | $0.41 | USD | ≈2.6% |
| Dec 21, 2021 | $0.41 | USD | ≈2.3% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| 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
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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) | 4,712,000,000 | 4,624,000,000 | 4,149,000,000 | 4,089,000,000 | 410,000,000 | 402,000,000 | 398,000,000 | 418,000,000 | 405,000,000 | 366,000,000 | |
| Shares (Diluted) | 4,853,000,000 | 4,778,000,000 | 4,272,000,000 | 4,232,000,000 | 429,000,000 | 421,000,000 | 419,000,000 | 431,000,000 | 421,000,000 | 383,000,000 | |
| EBITDA | $25.48B | $13.46B | $16.21B | $14.22B | $8.52B | $4.01B | $3.44B | $5.13B | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 4,741,000,000 | 4,686,000,000 | 4,139,000,000 | 418,000,000 | 413,000,000 | 407,000,000 | 398,000,000 | 407,637,618 | 408,732,155 | · |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.7 | 1.2 | 2.8 | 2.6 | 2.6 | 1.9 | 1.4 | 3.9 | · | · | |
| Quick Ratio | 1.3 | 0.8 | 2.3 | 2.2 | 2.3 | 1.6 | 1.2 | 3.3 | · | · | |
| Debt / Equity | 0.0 | 0.0 | 0.1 | 0.0 | 1.6 | 1.7 | 1.3 | 0.7 | · | · | |
| LT Debt / Equity | · | · | · | · | 1.6 | 1.7 | 1.2 | 0.7 | · | · | |
| Interest Coverage | · | 3.4 | 10.0 | 8.2 | 4.5 | 2.3 | 2.4 | 8.2 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.5 | 0.4 | 0.4 | 0.3 | 0.4 | 0.4 | · | · | |
| Inventory Turnover | 10.2 | 10.4 | 5.8 | 6.9 | 9.2 | 11.1 | 10.1 | 7.9 | · | · | |
| Receivables Turnover | 11.1 | 13.6 | 11.7 | 13.2 | 12.6 | 8.6 | 6.9 | 7.2 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 77.5 | 137.3 | 25.4 | 17.8 | 3.5 | 5.5 | 4.6 | 0.8 | · | · | |
| P/S | 27.4 | 15.3 | 1.0 | 0.6 | 0.8 | 0.6 | 0.5 | 0.4 | · | · | |
| P/B | 21.6 | 11.7 | 1.4 | 0.9 | 0.9 | 0.6 | 0.5 | 0.3 | · | · | |
| P / Cash Flow | 63.6 | 39.7 | 1.9 | 1.2 | 1.6 | 1.2 | 1.2 | 1.0 | · | · | |
| P / FCF | 65.1 | 40.8 | 2.0 | 1.2 | 1.6 | 1.2 | 1.3 | 1.1 | · | · | |
| EV / EBITDA | 68.3 | 58.2 | 1.4 | 0.5 | 5.8 | 11.9 | 11.5 | 4.3 | · | · | |
| EV / FCF | 64.6 | 40.4 | 1.3 | 0.5 | 3.7 | 4.1 | 4.3 | 2.7 | · | · | |
| EV / Revenue | 27.2 | 15.2 | 0.6 | 0.2 | 1.8 | 2.0 | 1.7 | 1.1 | · | · | |
| 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 | · | · |
Income Statement
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.59B | $22.19B | $19.31B | $18.02B | $15.95B | $15.00B | $14.92B | $14.05B | $13.07B | $12.49B | $11.96B | $9.29B | $8.88B | $8.73B | $8.91B | $8.93B | |
| Cost of Revenue | $9.13B | $6.77B | $6.15B | $5.77B | $5.25B | $4.81B | $4.77B | $5.05B | $4.72B | $4.71B | $4.59B | $2.89B | $2.71B | $2.62B | $2.91B | $3.00B | |
| Gross Profit | $20.46B | $15.41B | $13.16B | $12.25B | $10.70B | $10.20B | $10.14B | $9.00B | $8.36B | $7.78B | $7.38B | $6.41B | $6.16B | $6.12B | $6.00B | $5.93B | |
| R&D Expense | $2.90B | $3.00B | $2.96B | $2.98B | $3.05B | $2.69B | $2.25B | $2.23B | $2.35B | $2.42B | $2.31B | $1.39B | $1.36B | $1.31B | $1.20B | $1.20B | |
| SG&A Expense | $996M | $1.05B | $1.02B | $1.11B | $1.07B | $1.08B | $949M | $1.01B | $1.10B | $1.28B | $1.57B | $418M | $388M | $438M | $348M | $370M | |
| Operating Expenses | $4.50B | $4.63B | $4.59B | $4.74B | $4.82B | $4.37B | $3.88B | $4.38B | $4.57B | $4.81B | $5.29B | $2.17B | $2.31B | $2.11B | $1.90B | $1.94B | |
| Operating Income | $15.96B | $10.79B | $8.56B | $7.51B | $5.89B | $5.83B | $6.26B | $4.63B | $3.79B | $2.96B | $2.08B | $4.24B | $3.86B | $4.01B | $4.10B | $3.99B | |
| Interest Expense | $778M | $776M | $801M | · | $807M | $769M | $873M | · | $1.06B | $1.05B | $926M | · | $406M | $405M | $406M | $406M | |
| Other Non-op | $98M | $118M | $433M | $122M | $205M | $25M | $103M | $52M | $82M | $87M | $185M | $132M | $124M | $113M | $143M | $40M | |
| Pretax Income | $15.28B | $10.13B | $8.20B | $6.87B | $5.29B | $5.08B | $5.49B | $3.76B | $2.81B | $2.00B | $1.34B | $3.97B | $3.57B | $3.72B | $3.84B | $3.62B | |
| Income Tax | $2.19B | $820M | $846M | $-1.65B | $1.15B | $120M | $-13M | $-442M | $4.24B | $-116M | $68M | $443M | $271M | $235M | $66M | $261M | |
| Net Income | $13.09B | $9.31B | $7.35B | $8.52B | $4.14B | $4.96B | $5.50B | $4.32B | $-1.88B | $2.12B | $1.32B | $3.52B | $3.30B | $3.48B | $3.77B | $3.36B | |
| EPS (Basic) | $2.75 | $1.96 | $1.55 | $1.81 | $0.88 | $1.05 | $1.17 | $0.92 | $-0.40 | $0.46 | $0.29 | $-14.83 | $0.80 | $8.39 | $9.03 | $-16.65 | |
| EPS (Diluted) | $2.68 | $1.91 | $1.50 | $1.75 | $0.85 | $1.03 | $1.14 | $0.91 | $-0.40 | $0.44 | $0.28 | $-14.42 | $0.77 | $8.15 | $8.80 | $-16.05 | |
| Shares (Basic) | 4,766,000,000 | 4,747,000,000 | 4,741,000,000 | · | 4,714,000,000 | 4,707,000,000 | 4,695,000,000 | · | 4,663,000,000 | 4,645,000,000 | 4,517,000,000 | · | 4,130,000,000 | 415,000,000 | 418,000,000 | · | |
| Shares (Diluted) | 4,887,000,000 | 4,876,000,000 | 4,888,000,000 | · | 4,860,000,000 | 4,826,000,000 | 4,836,000,000 | · | 4,663,000,000 | 4,799,000,000 | 4,666,000,000 | · | 4,269,000,000 | 427,000,000 | 429,000,000 | · | |
| EBITDA | $15.96B | $10.79B | $8.56B | · | $5.89B | $5.83B | $6.26B | · | $3.79B | $2.96B | $2.08B | · | $3.86B | $4.01B | $4.10B | · |
Balance Sheet
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $23.98B | $19.63B | $14.17B | $16.18B | $10.72B | $9.47B | $9.31B | $9.35B | $9.95B | $9.81B | $11.86B | · | $12.05B | $11.55B | $12.65B | · | |
| Receivables | $13.71B | $10.83B | $8.46B | $7.14B | $6.49B | $5.56B | $4.96B | $4.42B | $4.67B | $5.50B | $4.97B | · | $2.91B | $3.03B | $3.23B | · | |
| Inventory | $4.52B | $4.33B | $2.96B | $2.27B | $2.18B | $2.02B | $1.91B | $1.76B | $1.89B | $1.84B | $1.92B | · | $1.84B | $1.89B | $1.90B | · | |
| Prepaid Expense | $1.96B | $1.14B | $641M | $518M | $793M | $936M | $1.28B | $1.39B | $1.07B | $1.74B | $1.42B | · | $433M | $676M | $609M | · | |
| Other Current Assets | $9.97B | $7.43B | $6.47B | $5.98B | $5.61B | $5.13B | $4.82B | $4.07B | $3.44B | $8.15B | $8.44B | · | $1.52B | $1.40B | $1.06B | · | |
| Current Assets | $52.17B | $42.21B | $32.06B | $31.57B | $25.00B | $22.18B | $20.99B | $19.59B | $19.95B | $25.30B | $27.19B | · | $18.33B | $17.87B | $18.84B | · | |
| PP&E (Net) | $3.14B | $2.79B | $2.60B | $2.53B | $2.45B | $2.46B | $2.46B | $2.52B | $2.60B | $2.67B | $2.66B | · | $2.18B | $2.21B | $2.20B | · | |
| PP&E (Gross) | · | · | · | $7.43B | · | · | · | $7.03B | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | · | $4.90B | · | · | · | $4.50B | · | · | · | · | · | · | · | · | |
| Goodwill | $97.80B | $97.80B | $97.80B | $97.80B | $97.80B | $97.80B | $97.87B | $97.87B | $97.87B | $97.87B | $97.59B | $43.65B | $43.62B | $43.61B | $43.61B | $43.61B | |
| Intangibles | $26.32B | $28.33B | $30.30B | $32.27B | $34.34B | $36.39B | $38.58B | $40.58B | $43.03B | $45.41B | $47.19B | · | $4.65B | $5.43B | $6.22B | · | |
| Other Non-current Assets | $8.71B | $8.02B | $7.14B | $6.92B | $6.03B | $5.79B | $5.45B | $5.07B | $4.51B | $3.96B | $3.25B | · | $2.81B | $2.54B | $2.10B | · | |
| Total Assets | $188.15B | $179.16B | $169.90B | $171.09B | $165.62B | $164.63B | $165.36B | $165.65B | $167.97B | $175.21B | $177.87B | · | $71.59B | $71.67B | $72.98B | · | |
| Accounts Payable | $4.00B | $2.34B | $2.11B | $1.56B | $1.43B | $1.30B | $1.91B | $1.66B | $1.76B | $1.44B | $1.50B | · | $992M | $831M | $923M | · | |
| Short-term Debt | · | · | · | · | $496M | $3.88B | $3.99B | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $20.84B | $18.86B | $16.86B | $18.51B | $16.70B | $20.60B | $20.91B | $16.70B | $19.22B | $20.17B | $20.37B | · | $7.34B | $7.51B | $7.48B | · | |
| Capital Leases | · | · | · | $1.18B | · | · | · | $1.14B | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $10.45B | $9.95B | $9.37B | $9.30B | $12.81B | $12.70B | $13.73B | $14.97B | $16.30B | $13.49B | $13.75B | · | $3.95B | $3.96B | $4.02B | · | |
| Total Liabilities | $88.46B | $91.47B | $90.03B | $89.80B | $92.34B | $95.04B | $95.57B | $97.97B | $102.31B | $105.25B | $107.59B | · | $49.52B | $49.66B | $49.67B | · | |
| Long-term Debt | $59.42B | $64.91B | $66.06B | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | $59.42B | $64.91B | $66.06B | · | $1.40B | $5.53B | $5.64B | · | $3.12B | $2.37B | $2.37B | · | $1.08B | $1.08B | $1.08B | · | |
| Common Stock | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $0 | $0 | · | $0 | $0 | $0 | · | |
| Paid-in Capital | $77.33B | $75.31B | $73.14B | $71.31B | $69.01B | $66.69B | $66.85B | $67.47B | $67.31B | $69.75B | $70.08B | · | $20.86B | $20.83B | $21.12B | · | |
| Retained Earnings | $22.15B | $12.17B | $6.52B | $9.76B | $4.04B | $2.69B | $2.73B | $0 | $-1.88B | $0 | $0 | · | $1.18B | $1.36B | $2.37B | · | |
| AOCI | $204M | $208M | $212M | $218M | $221M | $206M | $207M | $207M | $208M | $207M | $207M | · | $46M | $-182M | $-180M | · | |
| Stockholders' Equity | $99.69B | $87.69B | $79.87B | $81.29B | $73.28B | $69.59B | $69.79B | $67.68B | $65.65B | $69.96B | $70.28B | $23.99B | $22.08B | $22.01B | $23.31B | $22.71B | |
| Liabilities + Equity | $188.15B | $179.16B | $169.90B | $171.09B | $165.62B | $164.63B | $165.36B | $165.65B | $167.97B | $175.21B | $177.87B | · | $71.59B | $71.67B | $72.98B | · | |
| Shares Outstanding | 4,774,000,000 | 4,758,000,000 | 4,736,000,000 | 4,741,000,000 | 4,722,000,000 | 4,703,000,000 | 4,702,000,000 | 4,686,000,000 | 4,671,000,000 | 465,000,000 | 463,000,000 | · | 413,000,000 | 414,000,000 | 417,000,000 | · |
Cash Flow
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $2.02B | $2.09B | $2.18B | $2.19B | $2.32B | $1.77B | $1.28B | $1.31B | $1.39B | $1.46B | $1.58B | $638M | $629M | $513M | $391M | $387M | |
| Amort. of Intangibles | $2.01B | $1.97B | $1.97B | $2.05B | $2.03B | $1.99B | $2.00B | · | · | · | · | · | · | · | · | · | |
| Restructuring | · | · | · | · | $143M | $114M | $186M | · | $361M | $345M | $712M | · | · | · | $6M | · | |
| Operating Cash Flow | $14.20B | $10.49B | $8.26B | $7.70B | $7.17B | $6.55B | $6.11B | $5.60B | $4.96B | $4.58B | $4.82B | $4.83B | $4.72B | $4.50B | $4.04B | $4.58B | |
| CapEx | $532M | $231M | $250M | $237M | $142M | $144M | $100M | $122M | $172M | $132M | $122M | $105M | $122M | $122M | $103M | $122M | |
| Investing Cash Flow | $-1.11B | $-208M | $-115M | $-367M | $94M | $-133M | $-174M | $-132M | $3.25B | $-706M | $-25.48B | $-124M | $-144M | $-318M | $-103M | $-128M | |
| Debt Issued | $0 | $0 | $4.47B | $4.97B | $6.96B | $749M | $2.99B | $4.97B | $4.97B | $0 | $30.01B | $0 | $0 | $0 | $0 | $0 | |
| Net Debt Issued | · | · | $4.47B | · | · | · | $2.99B | · | · | · | $30.01B | · | · | · | · | · | |
| Stock Issued | $0 | · | · | $103M | $0 | · | · | $126M | $0 | · | · | $59M | $0 | · | · | $54M | |
| Stock Repurchased | $0 | $600M | $7.85B | $0 | $0 | $2.45B | $0 | $-14.35B | · | · | $7.18B | $123M | $1.71B | $2.81B | $1.19B | $0 | |
| Net Stock Activity | · | $-600M | $-7.85B | · | · | $-2.45B | $0 | · | · | · | $-7.18B | · | $-1.71B | $-2.81B | $-1.19B | · | |
| Dividends Paid | $3.10B | $3.09B | $3.09B | $2.80B | $2.79B | $2.79B | $2.77B | $2.48B | $2.45B | $2.44B | $2.44B | $1.90B | $1.90B | $1.91B | $1.93B | $1.78B | |
| Financing Cash Flow | $-8.74B | $-4.83B | $-10.15B | $-1.88B | $-6.01B | $-6.26B | $-5.98B | $-6.08B | $-8.06B | $-5.93B | $18.34B | $-2.57B | $-4.07B | $-5.28B | $-3.70B | $-2.02B | |
| Net Change in Cash | $4.35B | $5.45B | $-2.00B | $5.46B | $1.25B | $165M | $-41M | $-604M | $143M | $-2.06B | $-2.33B | $2.13B | $502M | $-1.09B | $231M | $2.44B | |
| Taxes Paid | $347M | $1.10B | $782M | $755M | $822M | $608M | $404M | $832M | $585M | $834M | $904M | $191M | $427M | $891M | $273M | $251M | |
| Free Cash Flow | · | · | $8.01B | · | · | · | $6.01B | · | · | · | $4.69B | · | · | · | $3.93B | · | |
| Levered FCF | · | · | $7.29B | · | · | · | $5.14B | · | · | · | $3.81B | · | · | · | $3.53B | · |
Profitability
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.1% | 69.5% | 68.1% | · | 67.1% | 68.0% | 68.0% | · | 63.9% | 62.3% | 61.7% | · | 69.5% | 70.0% | 67.3% | · | |
| Operating Margin | 53.9% | 48.6% | 44.3% | · | 36.9% | 38.9% | 42.0% | · | 29.0% | 23.7% | 17.4% | · | 43.4% | 45.9% | 46.0% | · | |
| Net Margin | 44.2% | 42.0% | 38.1% | · | 25.9% | 33.1% | 36.9% | · | -14.3% | 17.0% | 11.1% | · | 37.2% | 39.9% | 42.3% | · | |
| Pretax Margin | 51.6% | 45.7% | 42.4% | · | 33.1% | 33.9% | 36.8% | · | 21.5% | 16.1% | 11.2% | · | 40.3% | 42.5% | 43.1% | · | |
| EBITDA Margin | 53.9% | 48.6% | 44.3% | · | 36.9% | 38.9% | 42.0% | · | 29.0% | 23.7% | 17.4% | · | 43.4% | 45.9% | 46.0% | · | |
| ROA | 7.4% | 5.4% | 4.4% | · | 2.5% | 2.9% | 3.2% | · | -1.6% | 1.7% | 1.1% | · | 4.6% | 4.9% | 5.2% | · | |
| ROE | 15.1% | 11.8% | 9.8% | · | 6.0% | 7.1% | 7.9% | · | -4.3% | 4.6% | 2.8% | · | 15.4% | 16.2% | 16.3% | · | |
| ROIC | 8.6% | 6.5% | 5.3% | · | 6.2% | 7.6% | 8.3% | · | -2.8% | 4.3% | 2.7% | · | 15.4% | 16.3% | 16.5% | · |
Liquidity & Solvency
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.5 | 2.2 | 1.9 | · | 1.5 | 1.1 | 1.0 | · | 1.0 | 1.3 | 1.3 | · | 2.5 | 2.4 | 2.5 | · | |
| Quick Ratio | 1.8 | 1.6 | 1.3 | · | 1.0 | 0.7 | 0.7 | · | 0.8 | 0.8 | 0.8 | · | 2.0 | 1.9 | 2.1 | · | |
| Debt / Equity | 0.6 | 0.7 | 0.8 | · | 0.0 | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | |
| LT Debt / Equity | 0.6 | 0.7 | 0.8 | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | 20.5 | 13.9 | 10.7 | · | 7.3 | 7.6 | 7.2 | · | 3.6 | 2.8 | 2.2 | · | 9.5 | 9.9 | 10.1 | · |
Efficiency
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | |
| Inventory Turnover | 2.7 | 2.1 | 2.5 | · | 2.6 | 2.5 | 2.5 | · | 2.5 | 2.5 | 2.4 | · | 1.5 | 1.5 | 1.7 | · | |
| Receivables Turnover | 2.9 | 2.7 | 2.9 | · | 2.9 | 2.7 | 3.0 | · | 3.4 | 2.9 | 2.9 | · | 3.2 | 2.9 | 3.1 | · |
Per Share
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $20.88 | $18.43 | $16.86 | · | $15.52 | $14.80 | $14.84 | · | $14.05 | $150.45 | $151.80 | · | $53.46 | $53.16 | $55.90 | · | |
| Revenue / Share | $6.05 | $4.55 | $3.95 | · | $3.28 | $3.11 | $3.08 | · | $2.80 | $26.01 | $25.61 | · | $20.79 | $20.45 | $20.78 | · | |
| Cash Flow / Share | · | · | $1.69 | · | · | · | $1.26 | · | · | · | $10.31 | · | · | · | $9.41 | · | |
| Cash / Share | $5.02 | $4.13 | $2.99 | · | $2.27 | $2.01 | $1.98 | · | $2.13 | $21.09 | $25.62 | · | $29.19 | $27.91 | $30.33 | · | |
| Dividend Paid / Share | $0.65 | $0.65 | $0.65 | $0.59 | $0.59 | $0.59 | $0.59 | $0.53 | $0.53 | $0.53 | $0.53 | $-7.82 | $0.46 | $4.60 | $4.60 | $-10.66 | |
| EPS (TTM) | $7.84 | $6.01 | $5.13 | · | $3.93 | $2.68 | $2.09 | · | $-14.10 | $-12.93 | $-5.22 | · | $1.67 | $8.05 | $5.84 | · |
Valuation (TTM)
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $89.10B | $75.47B | $68.28B | · | $59.93B | $57.05B | $54.53B | · | $46.81B | $42.62B | $38.87B | · | $35.45B | $35.04B | $34.41B | · | |
| Net Income TTM | $38.27B | $29.32B | $24.97B | · | $18.93B | $12.92B | $10.07B | · | · | · | · | · | $13.92B | $13.69B | $12.80B | · | |
| Market Cap | $1.86T | $2.00T | $1.57T | · | $1.36T | $957.72B | $1.04T | · | $671.78B | $59.43B | $56.69B | · | $37.16B | $25.94B | $24.64B | · | |
| Enterprise Value | $1.89T | $2.05T | $1.62T | · | $1.35T | $953.77B | $1.04T | · | $664.95B | $52.00B | $47.20B | · | $26.18B | $15.46B | $13.07B | · | |
| P/E | 49.7 | 70.1 | 64.5 | · | 73.4 | 76.0 | 105.9 | · | -10.2 | -9.9 | -23.5 | · | 53.9 | 7.8 | 10.1 | · | |
| P/S | 20.9 | 26.6 | 22.9 | · | 22.7 | 16.8 | 19.1 | · | 14.3 | 1.4 | · | · | 1.0 | 0.7 | 0.7 | · | |
| P/B | 18.6 | 22.9 | 19.6 | · | 18.6 | 13.8 | 14.9 | · | 10.2 | 0.8 | 0.8 | · | 1.7 | 1.2 | 1.1 | · | |
| P / Cash Flow | · | · | 189.6 | · | · | · | 170.2 | · | · | · | 11.8 | · | · | · | 6.1 | · | |
| EV / Revenue | 21.3 | 27.2 | 23.7 | · | 22.6 | 16.7 | 19.0 | · | 14.2 | 1.2 | · | · | 0.7 | 0.4 | 0.4 | · | |
| Dividend Yield | 0.63% | 0.59% | 0.73% | · | 0.79% | 1.1% | 0.98% | · | 1.4% | 14.6% | · | · | 20.2% | 28.4% | 29.2% | · | |
| Earnings Yield | 2.0% | 1.4% | 1.6% | · | 1.4% | 1.3% | 0.94% | · | -9.8% | -10.1% | -4.3% | · | 1.9% | 12.8% | 9.9% | · | |
| Payout Ratio | · | · | 42.0% | · | · | · | 50.4% | · | · | · | 183.8% | · | · | · | 51.0% | · | |
| Annual Payout | $11.76B | $11.76B | $11.45B | · | $10.83B | $10.49B | $10.15B | · | $9.23B | $8.68B | $8.15B | · | $7.52B | $7.36B | $7.19B | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-11-02 | 2024-11-03 | 2023-10-29 | 2022-10-30 | 2021-10-31 |
|---|---|---|---|---|---|
| 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 |
| Metric | 2025-11-02 | 2024-11-03 | 2023-10-29 | 2022-10-30 | 2021-10-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | 0.0 | 0.1 | 0.0 | 1.6 |
| Current Ratio | 1.7 | 1.2 | 2.8 | 2.6 | 2.6 |
| Quick Ratio | 1.3 | 0.8 | 2.3 | 2.2 | 2.3 |
| Metric | 2025-11-02 | 2024-11-03 | 2023-10-29 | 2022-10-30 | 2021-10-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $26.91B | $19.41B | $17.63B | $16.31B | $13.32B |
Institutional owners (13F) 5,261 filers · $1.6T total · As of Sept. 30, 2026
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.
| 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 |
Company insiders 21 insiders · 8 officers · 14 directors
| 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
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 |
| TOV · EA Series Trust | 2.77% | 18,757 NS | July 31, 2026 | N-PORT |
| ACVF · ETF Opportunities Trust | 2.73% | 10,673 NS | July 31, 2026 | N-PORT |
| CBLS · Elevation Series Trust | 2.71% | 3,877 NS | July 31, 2026 | N-PORT |
| LRGF · iShares Trust | 2.71% | 275,851 SH | Sept. 11, 2026 | Daily |
| CBSE · Elevation Series Trust | 2.70% | 3,585 NS | July 31, 2026 | N-PORT |
| SUSA · iShares Trust | 2.65% | 294,707 SH | Sept. 11, 2026 | Daily |
| SPUU · Direxion Shares ETF Trust | 2.64% | 17,864 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 2.63% | 1,412,415 NS | July 31, 2026 | N-PORT |
| IVV · iShares Trust | 2.61% | 59,677,821 SH | Sept. 11, 2026 | Daily |
| QDPL · Pacer Funds Trust | 2.60% | 114,073 NS | July 31, 2026 | N-PORT |
| JOYT · J.P. Morgan Exchange-Traded Fund Tr… | 2.60% | 6,494 NS | July 31, 2026 | N-PORT |
| DYNF · BlackRock ETF Trust | 2.59% | 2,976,042 SH | Sept. 11, 2026 | Daily |
| VOXP · Advisors Series Trust | 2.58% | 384 NS | July 31, 2026 | N-PORT |
| PBP · Invesco Exchange-Traded Fund Trust | 2.57% | 28,300 SH | Oct. 1, 2026 | Daily |
| ILCB · iShares Trust | 2.53% | 90,400 SH | Sept. 11, 2026 | Daily |
| QQQM · Invesco Exchange-Traded Fund Trust … | 2.53% | 7,922,987 SH | Oct. 1, 2026 | Daily |
| QQQ · Invesco QQQ Trust, Series 1 | 2.53% | 35,996,151 SH | Oct. 1, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 2.53% | 769,107 SH | Aug. 19, 2026 | Daily |
| ESGU · iShares Trust | 2.52% | 1,249,765 SH | Sept. 11, 2026 | Daily |
| FFLC · FIDELITY COVINGTON TRUST | 2.48% | 76,699 NS | July 31, 2026 | N-PORT |
| ABFL · Abacus FCF ETF Trust | 2.48% | 33,463 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 2.46% | 150,335,443 SH | Aug. 19, 2026 | Daily |
| TYLG · Global X Funds | 2.46% | 903 NS | July 31, 2026 | N-PORT |
| IYY · iShares Trust | 2.44% | 203,072 SH | Sept. 11, 2026 | Daily |
| HDUS · Lattice Strategies Trust | 2.43% | 12,724 NS | July 31, 2026 | N-PORT |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 2.42% | 391,716 SH | Aug. 19, 2026 | Daily |
| PBUS · Invesco Exchange-Traded Fund Trust … | 2.40% | 779,086 SH | Oct. 1, 2026 | Daily |
| IWB · iShares Trust | 2.40% | 3,220,306 SH | Sept. 11, 2026 | Daily |
| FCPI · FIDELITY COVINGTON TRUST | 2.39% | 16,577 NS | July 31, 2026 | N-PORT |
| DGRO · iShares Trust | 2.38% | 2,835,242 SH | Sept. 11, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 2.34% | 748,283 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 2.33% | 6,164,143 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 2.30% | 1,282,251 SH | Sept. 11, 2026 | Daily |
| HCMT · Direxion Shares ETF Trust | 2.28% | 32,944 NS | July 31, 2026 | N-PORT |
| ARKW · ARK ETF Trust | 2.27% | 93,842 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 2.27% | 132,436 NS | July 31, 2026 | N-PORT |
| FEUS · FlexShares Trust | 2.22% | 6,380 NS | July 31, 2026 | N-PORT |
| SUPP · TCW ETF Trust | 2.18% | 668 NS | July 31, 2026 | N-PORT |
| SPXL · Direxion Shares ETF Trust | 2.14% | 370,153 NS | July 31, 2026 | N-PORT |
| PHDG · Invesco Actively Managed Exchange-T… | 2.13% | 3,748 SH | Oct. 1, 2026 | Daily |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 2.09% | 134,445 NS | July 31, 2026 | N-PORT |
| SPIT · RBB Fund, Inc. | 2.07% | 1,777 NS | July 31, 2026 | N-PORT |
| FGSI · First Trust Exchange-Traded Fund IV | 2.05% | 109 NS | July 31, 2026 | N-PORT |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 2.00% | 422,554 NS | July 31, 2026 | N-PORT |
| XT · iShares Trust | 1.99% | 213,692 SH | Sept. 11, 2026 | Daily |
| TOK · iShares Trust | 1.91% | 12,561 SH | Sept. 11, 2026 | Daily |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 1.91% | 40,805 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 1.87% | 104,754 NS | July 31, 2026 | N-PORT |
| URTH · iShares, Inc. | 1.80% | 406,850 SH | Sept. 11, 2026 | Daily |
| ASLV · ALLSPRING EXCHANGE-TRADED FUNDS TRU… | 1.78% | 9,988 NS | July 31, 2026 | N-PORT |
| GARP · iShares Trust | 1.76% | 149,151 SH | Sept. 11, 2026 | Daily |
| QLV · FlexShares Trust | 1.76% | 7,392 NS | July 31, 2026 | N-PORT |
| ARKQ · ARK ETF Trust | 1.72% | 82,200 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 1.68% | 144,524 NS | July 31, 2026 | N-PORT |
| GLOF · iShares Trust | 1.68% | 9,344 SH | Sept. 11, 2026 | Daily |
| WLTG · ETF Opportunities Trust | 1.66% | 3,284 NS | July 31, 2026 | N-PORT |
| ELCV · Strategy Shares | 1.64% | 10,605 NS | July 31, 2026 | N-PORT |
| QQQG · Pacer Funds Trust | 1.61% | 845 NS | July 31, 2026 | N-PORT |
| CRBN · iShares Trust | 1.59% | 51,449 SH | Sept. 11, 2026 | Daily |
| PWS · Pacer Funds Trust | 1.59% | 983 NS | July 31, 2026 | N-PORT |
| ACWI · iShares Trust | 1.58% | 1,441,640 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 1.50% | 3,892,143 SH | Aug. 19, 2026 | Daily |
| RW · EA Series Trust | 1.47% | 655 NS | July 31, 2026 | N-PORT |
| RGEF · Tidal Trust III | 1.42% | 29,652 NS | July 31, 2026 | N-PORT |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 1.34% | 37,663,000 | Oct. 1, 2026 | Daily |
| RPG · Invesco Exchange-Traded Fund Trust | 1.33% | 72,673 SH | Oct. 1, 2026 | Daily |
| JGLO · J.P. Morgan Exchange-Traded Fund Tr… | 1.32% | 225,641 NS | July 31, 2026 | N-PORT |
| RSPT · Invesco Exchange-Traded Fund Trust | 1.27% | 217,545 SH | Oct. 1, 2026 | Daily |
| ARKK · ARK ETF Trust | 1.24% | 177,664 NS | July 31, 2026 | N-PORT |
| FTLS · First Trust Exchange-Traded Fund III | 1.20% | 77,137 NS | July 31, 2026 | N-PORT |
| UPSD · ETF Series Solutions | 1.20% | 3,603 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 1.18% | 1,449,408 NS | July 31, 2026 | N-PORT |
| ALTL · Pacer Funds Trust | 1.01% | 2,387 NS | July 31, 2026 | N-PORT |
| GURU · Global X Funds | 1.01% | 1,586 NS | July 31, 2026 | N-PORT |
| EQWL · Invesco Exchange-Traded Fund Trust | 0.98% | 77,296 SH | Oct. 1, 2026 | Daily |
| JDIV · J.P. Morgan Exchange-Traded Fund Tr… | 0.95% | 313 NS | July 31, 2026 | N-PORT |
| LSVD · ADVISORS' INNER CIRCLE FUND | 0.94% | 15,742 NS | July 31, 2026 | N-PORT |
| USMV · iShares Trust | 0.94% | 620,224 SH | Sept. 11, 2026 | Daily |
| SPHB · Invesco Exchange-Traded Fund Trust … | 0.94% | 25,363 SH | Oct. 1, 2026 | Daily |
| ESMV · iShares Trust | 0.93% | 200 SH | Sept. 11, 2026 | Daily |
| COWG · Pacer Funds Trust | 0.91% | 51,488 NS | July 31, 2026 | N-PORT |
| QQQE · Direxion Shares ETF Trust | 0.89% | 30,424 NS | July 31, 2026 | N-PORT |
| AAAA · EA Series Trust | 0.84% | 6,031 NS | July 31, 2026 | N-PORT |
| VFMV · VANGUARD WELLINGTON FUND | 0.82% | 9,131 SH | Aug. 19, 2026 | Daily |
| OMFL · Invesco Exchange-Traded Self-Indexe… | 0.82% | 110,119 SH | Oct. 1, 2026 | Daily |
| JOET · Virtus ETF Trust II | 0.81% | 5,041 NS | July 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.77% | 10,889 NS | July 31, 2026 | N-PORT |
| IUS · Invesco Exchange-Traded Self-Indexe… | 0.71% | 19,500 SH | Oct. 1, 2026 | Daily |
| FXL · First Trust Exchange-Traded AlphaDE… | 0.68% | 45,025 NS | July 31, 2026 | N-PORT |
| HIBL · Direxion Shares ETF Trust | 0.68% | 1,311 NS | July 31, 2026 | N-PORT |
| BSCS · Invesco Exchange-Traded Self-Indexe… | 0.60% | 21,304,000 | Oct. 1, 2026 | Daily |
| FTC · First Trust Exchange-Traded AlphaDE… | 0.59% | 19,874 NS | July 31, 2026 | N-PORT |
| TRFM · ETF Series Solutions | 0.56% | 3,578 NS | July 31, 2026 | N-PORT |
| ESLV · Strategy Shares | 0.56% | 205 NS | July 31, 2026 | N-PORT |
| PRF · Invesco Exchange-Traded Fund Trust | 0.54% | 151,066 SH | Oct. 1, 2026 | Daily |
| RWL · Invesco Exchange-Traded Fund Trust … | 0.44% | 121,919 SH | Oct. 1, 2026 | Daily |
| PFIG · Invesco Exchange-Traded Fund Trust … | 0.44% | 670,000 | Oct. 1, 2026 | Daily |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.40% | 4,724 NS | July 31, 2026 | N-PORT |
| PALC · Pacer Funds Trust | 0.40% | 2,157 NS | July 31, 2026 | N-PORT |
| ROUS · Lattice Strategies Trust | 0.39% | 7,097 NS | July 31, 2026 | N-PORT |
| NEAR · iShares U.S. ETF Trust | 0.35% | 18,919,000 SH | Sept. 11, 2026 | Daily |
| LQAI · Exchange Listed Funds Trust | 0.32% | 18 NS | July 31, 2026 | N-PORT |
| ACWV · iShares, Inc. | 0.31% | 28,828 SH | Sept. 11, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.29% | 4,321 NS | July 31, 2026 | N-PORT |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.28% | 11,189 NS | July 31, 2026 | N-PORT |
| QUVU · Hartford Funds Exchange-Traded Trust | 0.27% | 1,250 NS | July 31, 2026 | N-PORT |
| EUSA · iShares, Inc. | 0.20% | 10,764 SH | Sept. 11, 2026 | Daily |
| RSP · Invesco Exchange-Traded Fund Trust | 0.20% | 536,792 SH | Oct. 1, 2026 | Daily |
| BSCT · Invesco Exchange-Traded Self-Indexe… | 0.16% | 4,801,000 | Sept. 30, 2026 | Daily |
| SIZE · iShares Trust | 0.14% | 1,687 SH | Sept. 11, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.11% | 5,902 SH | Aug. 19, 2026 | Daily |
| JFLI · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 120 NS | July 31, 2026 | N-PORT |
| DFVX · Dimensional ETF Trust | 0.07% | 958 NS | July 31, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.06% | 1,399 SH | Oct. 1, 2026 | Daily |
| GTOS · Invesco Actively Managed Exchange-T… | 0.02% | 25,000 | Oct. 1, 2026 | Daily |
| GTO · Invesco Actively Managed Exchange-T… | 0.00% | 21,000 | Sept. 30, 2026 | Daily |
| BIV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BLV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCRB · VANGUARD MALVERN FUNDS | · | · | July 15, 2026 | Daily |
| VPLS · VANGUARD MALVERN FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCIT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCLT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| VCEB · VANGUARD WORLD FUND | · | · | July 30, 2026 | Daily |
AVGO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
47 analysts · 2026-09-28Mean target $531.85 +49.8%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
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
AVGO AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects
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
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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
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.
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.
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.
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
No open signal right now — no card is filled, and that's honest.
My Metrics Your personal watchlist — selected rows from Full Fundamentals
Pick the metrics that matter to you — click the + next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.