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Broadcom

Broadcom's net profit rose 98.1% yoy to USD 7,830 mil in 2021

By Helgi Analytics - August 29, 2022

Broadcom made a net profit of USD 7,830 mil with revenues of USD 28,501 mil in 2021, up by 98.1% and up by 15.5%, r...

Broadcom's price/earnings (P/E) fell 24.8% yoy to 37.9 in 2021

By Helgi Analytics - August 29, 2022

Broadcom stock traded at USD 665 per share at the end 2021 translating into a market capitalization of USD 285,457 mil. Since the...

Broadcom's Net Margin rose 71.6% yoy to 27.5% in 2021

By Helgi Analytics - August 29, 2022

Broadcom made a net profit of USD 7,830 mil with revenues of USD 28,501 mil in 2021, up by 98.1% and up by 15.5%, respective...

Profit Statement 2019 2020 2021
Sales USD mil 22,666 24,685 28,501
Gross Profit USD mil 12,539 14,204 17,941
EBITDA USD mil 4,175 5,699 10,327
EBIT USD mil 3,603 5,137 9,790
Financing Cost USD mil 1,505 1,941 1,722
Pre-Tax Profit USD mil 2,252 3,523 8,068
Net Profit USD mil 2,638 3,953 7,830
Dividends USD mil 4,463 5,544 6,337
Balance Sheet 2019 2020 2021
Total Assets USD mil 81,006 76,972 73,224
Non-Current Assets USD mil 68,897 62,672 57,883
Current Assets USD mil 12,109 14,300 15,341
Working Capital USD mil 3,610 2,578 2,981
Shareholders' Equity USD mil 24,396 23,999 22,994
Liabilities USD mil 56,610 52,973 50,230
Total Debt USD mil 45,381 41,932 39,505
Net Debt USD mil 38,937 32,380 29,286
Ratios 2019 2020 2021
ROE % 10.6 15.1 32.1
ROCE % 3.82 5.74 12.4
Gross Margin % 55.3 57.5 62.9
EBITDA Margin % 18.4 23.1 36.2
EBIT Margin % 15.9 20.8 34.3
Net Margin % 11.6 16.0 27.5
Net Debt/EBITDA 9.33 5.68 2.84
Net Debt/Equity % 160 135 127
Cost of Financing % 3.63 4.45 4.23
Valuation 2019 2020 2021
Market Capitalisation USD mil 132,491 184,398 285,457
Enterprise Value (EV) USD mil 171,428 216,778 314,743
Number Of Shares mil 418 421 429
Share Price USD 317 438 665
EV/EBITDA 41.1 38.0 30.5
EV/Sales 7.56 8.78 11.0
Price/Earnings (P/E) 52.3 50.4 37.9
Price/Book Value (P/BV) 5.43 7.68 12.4
Dividend Yield % 3.55 3.15 2.32

Get all company financials in excel:

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overview Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
income statement                                        
Sales USD mil                   6,960 15,608 18,824 21,310 22,666            
Gross Profit USD mil                   3,668 7,000 9,136 11,313 12,539            
EBIT USD mil                   1,706 -378 2,820 4,747 3,603            
Net Profit USD mil                   1,390 -1,877 7,683 6,500 2,638            
                                           
ROE % ...                 31.8 -13.8 30.1 24.9 10.6            
EBIT Margin %                   24.5 -2.42 15.0 22.3 15.9            
Net Margin %                   20.0 -12.0 40.8 30.5 11.6            
Employees     ...             8,200 15,700 14,000 15,000 19,000     ... ... ... ...
balance sheet                                        
Total Assets USD mil                   10,777 49,617 54,544 72,110 81,006            
Non-Current Assets USD mil                   6,806 42,267 43,324 61,506 68,897            
Current Assets USD mil                   3,971 7,350 11,220 10,604 12,109            
                                           
Shareholders' Equity USD mil                   5,121 22,010 29,081 23,224 24,396            
Liabilities USD mil                   5,656 27,607 25,463 48,886 56,610            
Non-Current Liabilities USD mil                   4,794 25,485 23,493 40,537 48,871            
Current Liabilities USD mil                   862 2,122 1,970 8,349 7,739            
                                           
Net Debt/EBITDA                   0.659 2.84 3.20 6.17 9.33            
Net Debt/Equity %                   34.5 45.6 36.2 140 160            
Cost of Financing % ...                 4.68 6.99 3.38 2.86 3.63     ... ... ... ...
cash flow                                        
Total Cash From Operations USD mil                   2,311 4,290 6,883 9,327 9,887            
Total Cash From Investing USD mil                   -840 -10,074 -4,582 -15,640 -11,216            
Total Cash From Financing USD mil                   -1,871 7,151 1,239 4,330 2,680            
Net Change In Cash USD mil                   -400 1,367 3,540 -1,983 1,351            
valuation                                        
Market Capitalisation USD mil ... ... ... ... ... ... ... ... ... ... ... 107,927 109,200 132,491            
Enterprise Value (EV) USD mil ... ... ... ... ... ... ... ... ... ... ... 118,443 141,748 171,428            
Number Of Shares mil ... ... ... ... ... ... ... ... ... ... ... 420 430 418            
Share Price USD ... ... ... ... ... ... ... ... ... ... ... 257 254 317            
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... ... ... 14.0 16.8 52.3            
Price/Cash Earnings (P/CE) ... ... ... ... ... ... ... ... ... ... ... 13.2 15.5 41.3            
EV/EBITDA ... ... ... ... ... ... ... ... ... ... ... 36.1 26.9 41.1            
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... ... ... 3.71 4.70 5.43            
Dividend Yield % ... ... ... ... ... ... ... ... ... ... ... 1.89 3.09 3.55            
income statement Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
income statement                                        
Sales USD mil                   6,960 15,608 18,824 21,310 22,666            
Cost of Goods & Services USD mil                   3,292 8,608 9,688 9,997 10,127            
Gross Profit USD mil                   3,668 7,000 9,136 11,313 12,539            
Selling, General & Admin USD mil ... ...               483 893 889 1,236 1,839     ... ... ... ...
Research & Development USD mil                   1,081 3,215 3,409 3,976 4,852     ... ... ... ...
Other Operating Expense USD mil ... ... ...             398 3,270 2,018 1,354 2,245     ... ... ... ...
Other Operating Cost (Income) USD mil ... ...               0 0 0 0 0     ... ... ... ...
EBITDA USD mil                   2,686 3,534 3,285 5,279 4,175            
Depreciation USD mil ... ... ...             235 456 465 532 572            
EBIT USD mil                   1,706 -378 2,820 4,747 3,603            
Net Financing Cost USD mil   ... ... ... ... ...       281 534 436 722 1,454   ... ... ... ... ...
Financing Cost USD mil                   221 612 526 790 1,505     ... ... ... ...
Financing Income USD mil ... ... ... ... ... ...       8.50 18.5 61.5 110 73.5   ... ... ... ... ...
FX (Gain) Loss USD mil                   0 0 0 0 0   ... ... ... ... ...
(Income) / Loss from Affiliates USD mil ... ... ...         ... ... ... 0 0 0 ... ... ... ... ... ... ...
Extraordinary Cost USD mil                   40.0 117 16.0 14.0 -3.00     ... ... ... ...
Pre-Tax Profit USD mil                   1,510 -1,234 2,353 4,028 2,252            
Tax USD mil                   80.0 635 -5,761 -2,501 -383            
Minorities USD mil   ... ...             0 -109 415 15.0 0     ... ... ... ...
Net Profit USD mil                   1,390 -1,877 7,683 6,500 2,638            
Net Profit Avail. to Common USD mil                   1,390 -1,877 7,683 6,500 2,535            
Dividends USD mil ... ... ...             441 1,003 1,962 3,269 4,463            
growth rates                                        
Total Revenue Growth % ...                 34.0 124 20.6 13.2 6.36            
Operating Cost Growth % ...                 17.9 276 -14.4 3.96 36.1     ... ... ... ...
EBITDA Growth % ...                 79.8 31.6 -7.05 60.7 -20.9            
EBIT Growth % ...                 144 -122 -846 68.3 -24.1            
Pre-Tax Profit Growth % ...                 173 -182 -291 71.2 -44.1            
Net Profit Growth % ...                 190 -235 -509 -15.4 -61.0            
ratios                                        
ROE % ...                 31.8 -13.8 30.1 24.9 10.6            
ROA % ...                 12.9 -6.22 14.8 10.3 3.45            
ROCE % ...                 18.3 -7.17 16.9 11.6 3.82            
Gross Margin %                   52.7 44.8 48.5 53.1 55.3            
EBITDA Margin %                   38.6 22.6 17.5 24.8 18.4            
EBIT Margin %                   24.5 -2.42 15.0 22.3 15.9            
Net Margin %                   20.0 -12.0 40.8 30.5 11.6            
Payout Ratio % ... ... ...             31.7 -53.4 25.5 50.3 169            
Cost of Financing % ...                 4.68 6.99 3.38 2.86 3.63     ... ... ... ...
Net Debt/EBITDA                   0.659 2.84 3.20 6.17 9.33            
balance sheet Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
balance sheet                                        
Cash & Cash Equivalents USD mil ... ...               2,169 3,536 7,076 5,093 6,444            
Receivables USD mil                   1,060 1,947 2,459 3,677 3,651            
Inventories USD mil                   490 1,336 1,291 1,074 944            
Other ST Assets USD mil                   368 531 834 1,003 1,070            
Current Assets USD mil                   3,971 7,350 11,220 10,604 12,109            
Property, Plant & Equipment USD mil                   1,505 2,646 2,747 2,684 3,236            
LT Investments & Receivables USD mil                   0 0 0 0 0            
Intangible Assets USD mil                   4,774 38,767 40,070 58,140 64,937            
Goodwill USD mil                   1,685 24,700 26,899 36,647 43,472            
Non-Current Assets USD mil                   6,806 42,267 43,324 61,506 68,897            
Total Assets USD mil                   10,777 49,617 54,544 72,110 81,006            
                                           
Trade Payables USD mil                   523 1,047 816 738 985            
Short-Term Debt USD mil                   46.0 0 117 3,537 2,406            
Other ST Liabilities USD mil                   192 739 755 3,775 5,414            
Current Liabilities USD mil                   862 2,122 1,970 8,349 7,739            
Long-Term Debt USD mil                   3,892 13,562 17,475 34,104 42,975            
Other LT Liabilities USD mil                   911 22,210 16,037 6,602 7,427            
Non-Current Liabilities USD mil                   4,794 25,485 23,493 40,537 48,871            
Liabilities USD mil                   5,656 27,607 25,463 48,886 56,610            
Preferred Equity and Hybrid Capital USD mil                   0 0 0 0 3,738            
Share Capital USD mil                   2,699 19,504 20,851 23,081 20,790            
Treasury Stock USD mil                   0 0 0 0 0     ... ... ... ...
Equity Before Minority Interest USD mil                   5,121 19,033 25,901 23,224 24,396            
Minority Interest USD mil                   0 2,977 3,180 0 0     ... ... ... ...
Equity USD mil                   5,121 22,010 29,081 23,224 24,396            
growth rates                                        
Total Asset Growth % ...                 0.748 360 9.93 32.2 12.3            
Shareholders' Equity Growth % ...                 41.2 330 32.1 -20.1 5.05            
Net Debt Growth % ...                 -39.6 467 4.89 210 19.6            
Total Debt Growth % ...                 -28.4 244 29.7 114 20.6            
ratios                                        
Total Debt USD mil                   3,938 13,562 17,592 37,641 45,381            
Net Debt USD mil                   1,769 10,026 10,516 32,548 38,937            
Working Capital USD mil                   1,027 2,236 2,934 4,013 3,610            
Capital Employed USD mil                   7,833 44,503 46,258 65,519 72,507            
Net Debt/Equity %                   34.5 45.6 36.2 140 160            
Current Ratio                   4.61 3.46 5.70 1.27 1.56            
Quick Ratio ... ...               3.75 2.58 4.84 1.05 1.30            
cash flow Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
cash flow                                        
Net Profit USD mil                   1,390 -1,877 7,683 6,500 2,638            
Depreciation USD mil ... ... ...             235 456 465 532 572            
Non-Cash Items USD mil                   161 1,700 -5,033 -1,387 1,158            
Change in Working Capital USD mil                   -220 555 -574 -142 14.0            
Total Cash From Operations USD mil                   2,311 4,290 6,883 9,327 9,887            
                                           
Capital Expenditures USD mil ... ... ...             -487 -903 -286 -512 -353            
Net Change in LT Investment USD mil                   0 0 0 0 0     ... ... ... ...
Net Cash From Acquisitions USD mil ... ... ...             -338 -9,203 -4,044 -15,093 -10,876     ... ... ... ...
Other Investing Activities USD mil                   -15.0 32.0 -252 -35.0 13.0     ... ... ... ...
Total Cash From Investing USD mil                   -840 -10,074 -4,582 -15,640 -11,216            
                                           
Dividends Paid USD mil                   -441 -1,059 -2,069 -3,310 -4,540            
Issuance Of Shares USD mil                   390 350 230 -10,510 936            
Issuance Of Debt USD mil                   3,062 7,982 3,102 17,779 5,555            
Other Financing Activities USD mil                   -4.00 -122 -24.0 371 729     ... ... ... ...
Total Cash From Financing USD mil                   -1,871 7,151 1,239 4,330 2,680            
                                           
Effect of FX Rates USD mil ... ... ...             0 0 0 0 0     ... ... ... ...
Net Change In Cash USD mil                   -400 1,367 3,540 -1,983 1,351            
ratios                                        
Days Sales Outstanding days                   55.6 45.5 47.7 63.0 58.8            
Days Sales Of Inventory days                   54.3 56.6 48.6 39.2 34.0            
Days Payable Outstanding days                   58.0 44.4 30.7 26.9 35.5            
Cash Conversion Cycle days                   51.9 57.8 65.6 75.2 57.3            
Cash Earnings USD mil ... ... ...             1,625 -1,421 8,148 7,032 3,210            
Free Cash Flow USD mil                   1,471 -5,784 2,301 -6,313 -1,329            
Capital Expenditures (As % of Sales) % ... ... ...             7.00 5.79 1.52 2.40 1.56            
other ratios Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
                                         
Employees     ...             8,200 15,700 14,000 15,000 19,000     ... ... ... ...
Operating Cost (As % of Sales) %                   28.2 47.3 33.6 30.8 39.4     ... ... ... ...
Research & Development (As % of Sales) %                   15.5 20.6 18.1 18.7 21.4     ... ... ... ...
Effective Tax Rate %                   5.30 -51.5 -245 -62.1 -17.0            
Total Revenue Growth (5-year average) % ... ... ... ... ...         26.1 46.0 51.3 51.7 34.3            
Total Revenue Growth (10-year average) % ... ... ... ... ... ... ... ... ... ... 27.0 28.2 29.0 30.6            
valuation Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
                                         
Market Capitalisation USD mil ... ... ... ... ... ... ... ... ... ... ... 107,927 109,200 132,491            
Enterprise Value (EV) USD mil ... ... ... ... ... ... ... ... ... ... ... 118,443 141,748 171,428            
Number Of Shares mil ... ... ... ... ... ... ... ... ... ... ... 420 430 418            
Share Price USD ... ... ... ... ... ... ... ... ... ... ... 257 254 317            
EV/EBITDA ... ... ... ... ... ... ... ... ... ... ... 36.1 26.9 41.1            
Price/Earnings (P/E) ... ... ... ... ... ... ... ... ... ... ... 14.0 16.8 52.3            
Price/Cash Earnings (P/CE) ... ... ... ... ... ... ... ... ... ... ... 13.2 15.5 41.3            
P/FCF ... ... ... ... ... ... ... ... ... ... ... 46.9 -17.3 -99.7            
Price/Book Value (P/BV) ... ... ... ... ... ... ... ... ... ... ... 3.71 4.70 5.43            
Dividend Yield % ... ... ... ... ... ... ... ... ... ... ... 1.89 3.09 3.55            
Free Cash Flow Yield % ... ... ... ... ... ... ... ... ... ... ... 2.13 -5.78 -1.00            
Earnings Per Share (EPS) USD ... ... ... ... ... ... ... ... ... ... ... 18.3 15.1 6.07            
Cash Earnings Per Share USD ... ... ... ... ... ... ... ... ... ... ... 19.4 16.4 7.68            
Free Cash Flow Per Share USD ... ... ... ... ... ... ... ... ... ... ... 5.48 -14.7 -3.18            
Book Value Per Share USD ... ... ... ... ... ... ... ... ... ... ... 69.2 54.0 58.4            
Dividend Per Share USD ... ... ... ... ... ... ... ... ... ... ... 4.86 7.84 11.2            
EV/Sales ... ... ... ... ... ... ... ... ... ... ... 6.29 6.65 7.56            
EV/EBIT ... ... ... ... ... ... ... ... ... ... ... 42.0 29.9 47.6            
EV/Free Cash Flow ... ... ... ... ... ... ... ... ... ... ... 51.5 -22.5 -129            
EV/Capital Employed ... ... ... ... ... ... ... ... ... ... ... 2.56 2.16 2.36            
Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... -17.4 -59.9            
Cash Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... -15.7 -53.0            
Book Value Per Share Growth % ... ... ... ... ... ... ... ... ... ... ... ... -22.0 8.06            

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Broadcom's Share Price rose 51.9% yoy to USD 665 in 2021

By Helgi Analytics - August 29, 2022

Broadcom stock traded at USD 665 per share at the end 2021 implying a market capitalization of USD 285,457 mil. Since the end of 2016, stock has appreciated by % implying an annual average growth of % In absolute terms, the value of the company rose ...

Broadcom's Capital Expenditures rose 6.78% yoy to USD 426 mil in 2021

By Helgi Analytics - August 29, 2022

Broadcom invested a total of USD 426 mil in 2021, down 6.78% compared to the previous year. Historically, between 2009 - 2021, the company's investments stood at a high of USD 903 mil in 2016 and a low of USD 55.0 mil in 2009. As a pe...

Broadcom's P/FCF rose 42.4% yoy to 20.8 in 2021

By Helgi Analytics - August 29, 2022

Broadcom stock traded at USD 665 per share at the end 2021 translating into a market capitalization of USD 285,457 mil. Since the end of 2016, the stock has appreciated by 0% representing an annual average growth of %. At the end of 2021, the firm traded...

Broadcom's Net Debt/EBITDA fell 50.1% yoy to 2.84 in 2021

By Helgi Analytics - August 29, 2022

Broadcom's net debt stood at USD 29,286 mil and accounted for 127% of equity at the end of 2021. The ratio is down 7.56 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 160% in 2019 and a low of ...

Broadcom's ROCE rose 116% yoy to 12.4% in 2021

By Helgi Analytics - August 29, 2022

Broadcom made a net profit of USD 7,830 mil in 2021, up 98.1% compared to the previous year. Historically, between 2006 and 2021, the company's net profit reached a high of USD 7,830 mil in 2021 and a low of USD -1,877 mil in 2016. The result implies a re...

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Finance

Broadcom has been growing its sales by 9.27% a year on average in the last 5 years. EBITDA has grown on average by 24.7% a year during that time to total of USD 17,210 mil in 2025, or 44.8% of sales. That’s compared to 42.9% average margin seen in last five years.

The company netted USD 13,407 mil in 2025 implying ROE of 57.0% and ROCE of 19.8%. Again, the average figures were 58.4% and 18.0%, respectively when looking at the previous 5 years.

Broadcom’s net debt amounted to USD 14,505 mil at the end of 2025, or 55.1% of equity. When compared to EBITDA, net debt was 0.843x, down when compared to average of 1.77x seen in the last 5 years.

Valuation

Broadcom stock traded at USD 521 per share at the end of 2025 resulting in a market capitalization of USD 213,610 mil. Over the previous five years, stock price grew by 18.9% or 3.53% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 13.3x and price to earnings (PE) of 15.9x as of 2025.