AVGO · Broadcom Inc.
5 customers — 45% of revenue (the fiscal quarter ended May 3, 2026)
“We believe aggregate sales to our top five end customers, through all channels, accounted for approximately 45% of our net revenue for each of the fiscal quarter and two fiscal quarters ended May 3, 2026 and 40% of our net revenue for each of the fiscal quarter and two fiscal quarters ended May 4, 2025.”
5 customers — 45% of revenue (the two fiscal quarters ended May 3, 2026)
“We believe aggregate sales to our top five end customers, through all channels, accounted for approximately 45% of our net revenue for each of the fiscal quarter and two fiscal quarters ended May 3, 2026 and 40% of our net revenue for each of the fiscal quarter and two fiscal quarters ended May 4, 2025.”
One customer — 42% of revenue (the two fiscal quarters ended May 3, 2026)
“Direct sales to one semiconductor solutions customer, which is a distributor, accounted for 42% of our net revenue for each of the fiscal quarter and two fiscal quarters ended May 3, 2026, and 29% of our net revenue for each of the fiscal quarter and two fiscal quarters ended May 4, 2025.”
One customer — 42% of revenue (the fiscal quarter ended May 3, 2026)
“Direct sales to one semiconductor solutions customer, which is a distributor, accounted for 42% of our net revenue for each of the fiscal quarter and two fiscal quarters ended May 3, 2026, and 29% of our net revenue for each of the fiscal quarter and two fiscal quarters ended May 4, 2025.”
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Chart any reported metric, KPI or segment over time — the full statement history lives here
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| $75.47B | $63.89B | $51.57BG | $35.82B | $33.2B | $27.45B | $23.89B | $22.6B | $20.85B | $17.64B | $13.24B | |
| $23.94B | $20.59B | $19.07B | $11.13B | $11.11B | $10.61B | $10.37B | $10.11B | $10.12B | $9.13B | $7.3B | |
| $51.52B | $43.29B | $32.51B | $24.69B | $22.1B | $16.84B | $13.52B | $12.48B | $10.73B | $8.51B | $5.94B | |
| — | 67.77% | 63.03% | 68.93% | 66.55% | 61.36% | 56.58% | 55.24% | 51.48% | 48.25% | 44.86% | |
| $11.99B | $10.98B | $9.31B | $5.25B | $4.92B | $4.85B | $4.97B | $4.7B | $3.77B | $3.3B | $2.67B | |
| $4.25B | $4.21B | $4.96B | $1.59B | $1.38B | $1.35B | $1.94B | $1.71B | $1.06B | $789M | $806M | |
| — | $8.06B | $9.27B | $3.25B | — | — | — | $5.24B | $3.57B | $4.29B | $2.64B | |
| — | — | — | $29M | $30M | $113M | $233M | $746M | $228M | — | — | |
| $18.78B | $17.81B | $19.05B | $8.48B | $7.87B | $8.33B | $9.5B | $9.04B | $5.6B | $6.14B | $6.35B | |
| $32.75B | $25.48B | $13.46B | $16.21B | $14.23B | $8.52B | $4.01B | $3.44B | $5.14B | $2.37B | -$409M | |
| — | 39.89% | 26.1% | 45.25% | 42.84% | 31.03% | 16.8% | 15.24% | 24.63% | 13.44% | -3.09% | |
| $3.15B | $3.21B | $3.95B | $1.62B | $1.74B | $1.89B | $1.78B | $1.44B | $628M | $454M | $585M | |
| $878M | $455M | $406M | $512M | -$54M | $131M | $206M | $226M | $144M | $74M | $10M | |
| — | — | — | — | — | — | — | $8M | — | — | — | |
| — | -$17M | -$12M | $11M | -$169M | $99M | $31M | $145M | $3M | -$1M | — | |
| $30.48B | $22.73B | $9.92B | $15.1B | $12.43B | $6.77B | $2.44B | $2.23B | $4.55B | $1.83B | -$1.11B | |
| $1.16B | -$397M | $3.75B | $1.02B | $939M | $29M | -$518M | -$510M | -$8.08B | $35M | $642M | |
| $29.32B | $23.13B | $5.9B | $14.08B | $11.5B | $6.74B | $2.96B | $2.72B | $12.26B | $1.69B | -$1.74B | |
| — | 36.2% | 11.43% | 39.31% | 34.62% | 24.54% | 12.39% | 12.05% | 58.8% | 9.59% | -13.13% | |
| — | — | — | — | — | — | $0 | $0 | $351M | $92M | -$122M | |
| — | — | $5.9B | $14.08B | $11.22B | $6.44B | $2.66B | $2.7B | $12.26B | $1.69B | — | |
| — | — | — | — | — | — | $2.98B | $2.7B | $12.25B | $1.74B | -$1.8B | |
| USD/shares | — | $4.91 | $1.27 | $3.39 | $2.74 | $1.57 | $0.66 | $0.68 | $2.93 | $0.42 | -$0.48 |
| USD/shares | — | $4.77 | $1.23 | $3.30 | $2.65 | $1.50 | $0.63 | $0.64 | $2.84 | $0.40 | -$0.49 |
| shares | — | 4.71B | 4.62B | 4.15B | 4.09B | 4.1B | 4.02B | 3.98B | 4.18B | 4.05B | 3.66B |
| shares | — | 4.85B | 4.78B | 4.27B | 4.23B | 4.29B | 4.21B | 4.19B | 4.31B | 4.21B | 3.83B |
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2016–FY2025: $35.14B in buybacks, $57.11B in dividends.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
Peer medians compare against the 8 similar-size Semiconductors companies (of 62 listed).
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Semiconductor Solutions | $36,858,000,000 | $30,096,000,000 | $28,182,000,000 | $25,818,000,000 | $20,383,000,000 | $17,267,000,000 | $17,441,000,000 | $19,068,000,000 |
| Infrastructure Software | $27,029,000,000 | $21,478,000,000 | $7,637,000,000 | $7,385,000,000 | $7,067,000,000 | $6,621,000,000 | $5,156,000,000 | $1,780,000,000 |
By Geography (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| All Other Geographies Member | $18,979,000,000 | $18,645,000,000 | $12,832,000,000 | $11,648,000,000 | $9,659,000,000 | $11,302,000,000 | $7,799,000,000 | $7,846,000,000 |
| United States | $16,506,000,000 | $12,887,000,000 | $6,975,000,000 | $5,915,000,000 | $5,285,000,000 | $4,778,000,000 | $4,235,000,000 | $2,697,000,000 |
| China including Hong Kong | $11,155,000,000 | $10,483,000,000 | $11,533,000,000 | $11,637,000,000 | $9,752,000,000 | $7,808,000,000 | $8,056,000,000 | $10,305,000,000 |
| Singapore | $10,796,000,000 | $9,559,000,000 | $4,479,000,000 | $4,003,000,000 | $2,754,000,000 | — | $2,507,000,000 | — |
| Taiwan | $6,451,000,000 | — | — | — | — | — | — | — |
By Product & Service (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Product | $44,847,000,000 | $34,960,000,000 | $28,949,000,000 | $26,277,000,000 | $20,886,000,000 | $17,435,000,000 | $18,117,000,000 | $19,754,000,000 |
| Subscriptions and Services | $19,040,000,000 | $16,614,000,000 | $6,870,000,000 | $6,926,000,000 | $6,564,000,000 | $6,453,000,000 | $4,480,000,000 | $1,094,000,000 |
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
By Segment (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Semiconductor Solutions | $21,232,000,000 | $16,759,000,000 | $16,486,000,000 | $15,075,000,000 | $10,976,000,000 | $8,576,000,000 | $8,538,000,000 | $9,253,000,000 |
| Infrastructure Software | $20,765,000,000 | $13,977,000,000 | $5,639,000,000 | $5,219,000,000 | $4,936,000,000 | $4,363,000,000 | $3,391,000,000 | $1,157,000,000 |
| Unallocated Expenses | — | -$17,273,000,000 | -$5,918,000,000 | -$6,069,000,000 | -$7,393,000,000 | -$8,925,000,000 | -$8,485,000,000 | -$5,275,000,000 |
Operating Margin by Segment (%)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Semiconductor Solutions | 57.6% | 55.7% | 58.5% | 58.4% | 53.8% | 49.7% | 49% | 48.5% |
| Infrastructure Software | 76.8% | 65.1% | 73.8% | 70.7% | 69.8% | 65.9% | 65.8% | 65% |