Morningstar

Broadcom Inc AVGO

Morningstar Rating
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Stock XNAS Rating as of
$386.80 +14.89 (4.00%)
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As of Cboe BZX Real-Time Price Open

Company Report

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Broadcom Earnings: Hold the Line

William Kerwin

Broadcom reported in-line April-quarter results and good July-quarter guidance. Management maintained its outlook for "more than $100 billion" in artificial intelligence revenue in fiscal 2027. Shares fell 14% after hours, as investors hoped for higher guidance in 2027 and beyond.

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Price vs Fair Value

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AVGO is trading at a 583% premium.
Price
$372.10
Fair Value
$119.00
Uncertainty
High
1-Star Price
$1,514.50
5-Star Price
$826.00
Economic Moat
Llz
Capital Allocation
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Bulls Say, Bears Say

Bulls

Broadcom is best-of-breed in custom AI accelerators, boasting the largest customer in Google and layering new customers in like Anthropic and OpenAI. Rising AI spending portends immense growth.

Bears

Broadcom’s chip business bears significant customer concentration, with a small handful of large AI customers driving the bulk of revenue and future growth.

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Trading Information

Previous Close Price
$372.10
Day Range
$370.77–389.25
52-Week Range
$243.80–495.00
Bid/Ask
$386.68 / $387.34
Shares Outstanding
4.76B
Market Cap
$1.84T
Volume/Avg
18M / 25M

Key Statistics

Price/Earnings (Normalized)
48.24
Price/Sales
25.35
Dividend Yield (Trailing)
0.63%
Dividend Yield (Forward)
0.66%
Total Yield
1.13%

Company Profile

Broadcom is one of the largest semiconductor companies in the world and has also expanded into infrastructure software. Its semiconductors primarily serve computing and networking, with custom AI accelerators now accounting for the bulk of the business. It is primarily a fabless designer, but holds some manufacturing in-house, such as for its best-of-breed film bulk acoustic resonator filters that sell into the Apple iPhone. In software, it sells virtualization, infrastructure, and security software to large enterprises, financial institutions, and governments. Broadcom is the product of consolidation. Its businesses are an amalgamation of former companies like legacy Broadcom and Avago Technologies in chips, as well as VMware, Brocade, CA Technologies, and Symantec in software.
Sector
Technology
Industry
Semiconductors
Stock Style Box
Large Growth
Total Number of Employees
33,000
Website
https://www.broadcom.com

Competitors

Valuation

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Metric
AVGO
MRVL
NVDA
Price/Earnings (Normalized)
 48.2488.0935.64
Price/Book Value
 21.1712.8325.80
Price/Sales
 25.3526.7620.09
Price/Cash Flow
 43.9476.9034.71
Price/Earnings
AVGO
MRVL
NVDA

Financial Strength

Metric
AVGO
MRVL
NVDA
Quick Ratio
 1.932.512.76
Current Ratio
 2.243.283.44
Interest Coverage
 10.583.36628.92
Quick Ratio
AVGO
MRVL
NVDA

Profitability

Metric
AVGO
MRVL
NVDA
Return on Assets (Normalized)
 23.74%11.86%79.83%
Return on Equity (Normalized)
 51.54%18.03%108.79%
Return on Invested Capital (Normalized)
 29.94%6.79%99.20%
Return on Assets
AVGO
MRVL
NVDA

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Economic Moat
Market Cap
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 Micron Technology Inc
MU
FnrlykdzRhk$1T
 Advanced Micro Devices Inc
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 ARM Holdings PLC ADR
ARM
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 Texas Instruments Inc
TXN
ZrhczhqpxrZlpx$263B
 Marvell Technology Inc
MRVL
CrzgqblwzSxbfd$221B
 Qualcomm Inc
QCOM
SjtdnmdvXnssnf$217B

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