Broadcom Past Earnings Performance
Past criteria checks 6/6
Broadcom has been growing earnings at an average annual rate of 23.7%, while the Semiconductor industry saw earnings growing at 6.6% annually. Revenues have been growing at an average rate of 20.7% per year. Broadcom's return on equity is 31.3%, and it has net margins of 36.6%.
Key information
23.73%
Earnings growth rate
19.96%
EPS growth rate
| Semiconductor Industry Growth | 27.66% |
| Revenue growth rate | 20.68% |
| Return on equity | 31.26% |
| Net Margin | 36.57% |
| Last Earnings Update | 01 Feb 2026 |
Recent past performance updates
Recent updates
Broadcom's AI Engine Could Power The Next Decade
May 04
AVGO: Long Term AI Partnerships Will Support Upside Despite Multiple Reset
Broadcom's analyst fair value estimate has inched up from about $472 to $475 as analysts factor in stronger AI driven revenue assumptions, continued ASIC program scaling, and reassurance around margins despite mixed revisions to sector multiples and growth expectations across recent research. Analyst Commentary Recent research around Broadcom highlights a mix of optimism about AI driven growth and cautious views on competitive and valuation risks.
AVGO: AI Custom Chips And Key Cloud Deals Will Shape Future Balance
The analyst price target for Broadcom is updated to $360, with analysts pointing to stronger AI driven revenue visibility, solid execution in recent quarters and eased margin concerns, even as some firms refine targets to reflect changing sector multiples. Analyst Commentary Recent research on Broadcom centers on AI related growth visibility, margin durability and how much of that story is already reflected in the share price.
AVGO: AI Custom Silicon Demand Will Drive FY27 Earnings Power
Analysts have raised Broadcom’s fair value estimate from $535.00 to $587.95, citing stronger AI-driven revenue expectations, higher projected profit margins, reduced margin concerns, and continued constructive long-term commentary on FY27 AI potential, partly offset by lower assumed future P/E multiples. Analyst Commentary Bullish analysts are largely framing Broadcom as a key AI beneficiary, with valuation views that have adjusted more to sector multiple moves than to company specific concerns.AVGO: AI Infrastructure Demand Will Support Long Range Upside Despite Multiple Reset
Broadcom's analyst-derived fair value estimate has been adjusted higher to about $472, as analysts factor in stronger AI driven revenue expectations, easing margin concerns and increased long term visibility, which is reflected in a range of recent price target moves clustered around $450 to $545. Analyst Commentary Recent Street research around Broadcom clusters around AI driven growth, execution on custom silicon and networking, and the visibility of management’s long range AI revenue outlook.AVGO: AI Infrastructure Demand Will Support Future Upside Despite Multiple Reset
Our updated Broadcom view reflects a modest cut to the analyst price target of roughly $3, to about $453, as analysts factor in recent target reductions tied to AI valuation resets, questions around premium multiples, and competitive shifts in custom accelerators. Analyst Commentary Recent research on Broadcom has turned more balanced, with several firms trimming price targets while generally maintaining constructive views on the business and its role in AI infrastructure.
Broadcom (AVGO): The VMWare Synergies & The Custom Silicon Moat
Broadcom in February 2026 is the ultimate "Hybrid" asset. It offers the high-margin revenue of a software giant (VMware) combined with the explosive growth of a custom AI-silicon leader.AVGO: AI Custom Silicon And TPU Demand Will Support Future Upside
Our Broadcom analyst price target edges slightly lower to $456.59 from $456.56 as analysts factor in mixed recent calls, with some trimming targets on margin and competition concerns while others highlight support from AI related demand and potential TPU traction. Analyst Commentary Recent research on Broadcom reflects a mix of optimism around AI exposure and custom silicon, alongside caution on margins and valuation as expectations rise into 2026.AVGO: AI Custom Silicon Demand Will Shape Future Earnings Power
Analysts have lifted their Broadcom fair value estimate from US$415.56 to US$535.00, citing stronger AI related revenue assumptions, slightly leaner profit margins, and a lower future P/E expectation as they recalibrate forecasts alongside a series of recent upgrades and higher price targets across the semiconductor group. Analyst Commentary Recent Street research around Broadcom has leaned constructive, with several firms revising price targets, initiating coverage, or resuming opinions that highlight the company as a key beneficiary of AI related spending and custom silicon demand.AVGO: AI Custom Silicon Demand Will Drive Future Risk Reward Profile
Analysts raised their Broadcom fair value estimate from $403.66 to $456.56, reflecting expectations for higher projected revenue growth, slightly stronger profit margins, and a more moderate future P/E multiple supported by recent positive research on AI-related demand and custom silicon exposure. Analyst Commentary Recent Street research on Broadcom clusters around AI exposure, custom silicon, and the implications for valuation, margins, and long term growth execution.AVGO: Custom AI Chip Deployments And OpenAI Deal Will Shape Future Balance
Narrative Update Analysts lifted their Broadcom fair value estimate from $344.62 to $365.10 as they update models for higher AI related revenue expectations, stronger profitability tied to custom accelerators for partners like OpenAI and Google, and a lower future P/E assumption that reflects rising conviction in the company's role in large scale AI deployments. Analyst Commentary Recent Street research on Broadcom has centered on the company’s role in large scale AI build outs, especially around custom accelerators for major cloud and AI customers.News Flash: Analysts Just Made A Captivating Upgrade To Their Broadcom Inc. (NASDAQ:AVGO) Forecasts
Dec 17
AVGO: AI Accelerator Deals And OpenAI Partnership Will Shape Balanced Future Outlook
Analysts have lifted their Broadcom fair value estimate from approximately $274 to $345 per share, citing sharply higher expected AI driven revenue growth, stronger profit margins from custom accelerator wins with hyperscalers and OpenAI, and a supportive broader AI spending backdrop reflected in a wave of higher Street price targets. Analyst Commentary Street research remains broadly constructive on Broadcom, with a wave of higher price targets and fresh Buy and Outperform initiations underscoring confidence in the company as a key beneficiary of the AI infrastructure build out.
A tech powerhouse quietly powering the world’s AI infrastructure.
Broadcom's Q4 Results: The Beat and Drop Market Update: Broadcom (AVGO) Q4 Fiscal 2025 Results Date of Report: December 11, 2025 Below is an analysis of Broadcom’s latest financial results, the subsequent valuation impact, and the specific reasons behind the market's negative reaction. 1.AVGO: AI Partnerships And Customer Shifts Will Shape Risk And Reward Ahead
Analysts have increased their price target for Broadcom by approximately $9 to $404 per share, citing higher expected AI-related revenues and recent major customer wins as key factors behind the upward revision. Analyst Commentary Recent analyst research has highlighted a notable shift in sentiment toward Broadcom’s prospects, largely fueled by high-profile partnerships and accelerating AI revenue forecasts.AVGO: Multi-Year Artificial Intelligence Partnerships Will Drive Market Momentum Ahead
Broadcom's analyst price target has risen by over $20, as analysts cite strengthened revenue expectations and multi-year upside from high-profile artificial intelligence partnerships and recent OpenAI collaboration announcements. Analyst Commentary Broadcom's recent partnership announcements and accelerated artificial intelligence momentum have drawn wide attention from industry analysts, leading to a wave of adjustments in price targets and outlooks.AVGO: Upcoming AI Chip Production With Key Partner Will Shape Competitive Position
Broadcom's analyst price target has been raised from approximately $387 to $392, as analysts point to significant revenue and profit margin upside following recent AI-focused collaborations with OpenAI and positive supply chain checks. Analyst Commentary Analyst sentiment on Broadcom has grown increasingly favorable following major AI partnerships and a notable ramp in custom chip orders.Accelerating AI Demand And VMware Integration Will Expand Future Opportunities
Broadcom's analyst price target has been increased from approximately $370 to $387 per share, as analysts cite strong revenue growth expectations following significant AI partnerships and expanded custom chip deployments with OpenAI. Analyst Commentary Recent analyst commentary reflects strong optimism regarding Broadcom's growth trajectory, with successive price target increases following its new strategic partnerships and record custom chip deployments.Accelerating AI Demand And VMware Integration Will Expand Future Opportunities
Broadcom's analyst price target has been raised by analysts from $366.50 to $370.36, reflecting increased confidence in the company's growing AI opportunities and anticipated revenue expansion. Analyst Commentary Recent analyst commentary on Broadcom reflects heightened interest and debate surrounding the company's prospects amid rapidly evolving dynamics in artificial intelligence, custom silicon, and U.S.-based manufacturing.Accelerating AI Demand And VMware Integration Will Expand Future Opportunities
Analysts have raised Broadcom’s price target to $366.50, citing accelerating AI custom silicon growth, robust earnings, a strengthening AI customer base, and strategic leadership stability. Analyst Commentary Bullish analysts cite Broadcom's accelerating AI custom silicon growth, including the recent addition of a fourth major AI customer (likely OpenAI), with expectations for AI revenue to grow 50%-60% in fiscal 2026 and reach $10B+ next year.A tech powerhouse quietly powering the world’s AI infrastructure.
Broadcom Blows Past Q3 Expectations Revenue: $15.95B (+22% YoY) vs. $15.8B consensus Adj.Investing In AI R&D And Hyperscale Partnerships Will Secure Future Technological Leadership
Broadcom’s consensus price target has risen modestly to $302.16, driven by accelerating AI demand, strong custom silicon momentum, improved China access, and sustained AI pipeline growth, offsetting margin pressure from higher AI mix. Analyst Commentary Bullish analysts are raising estimates and price targets reflecting Broadcom's accelerating artificial intelligence (AI) demand, with AI-driven revenue growth guided 60% year-over-year into fiscal 2026.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Broadcom makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 01 Feb 26 | 68,282 | 24,972 | 4,065 | 11,689 |
| 02 Nov 25 | 63,887 | 23,126 | 3,995 | 10,977 |
| 03 Aug 25 | 59,926 | 18,813 | 3,860 | 10,230 |
| 04 May 25 | 57,046 | 13,241 | 3,888 | 9,533 |
| 02 Feb 25 | 54,529 | 10,397 | 3,788 | 9,255 |
| 03 Nov 24 | 51,574 | 6,168 | 4,411 | 9,310 |
| 04 Aug 24 | 46,815 | 5,487 | 4,368 | 8,464 |
| 05 May 24 | 42,619 | 10,222 | 3,656 | 7,469 |
| 04 Feb 24 | 38,865 | 11,582 | 2,817 | 6,366 |
| 29 Oct 23 | 35,819 | 14,082 | 1,341 | 5,253 |
| 30 Jul 23 | 35,454 | 13,869 | 1,545 | 5,062 |
| 30 Apr 23 | 35,042 | 13,565 | 1,480 | 4,959 |
| 29 Jan 23 | 34,412 | 12,599 | 1,410 | 4,908 |
| 30 Oct 22 | 33,203 | 11,223 | 1,383 | 4,919 |
| 31 Jul 22 | 31,680 | 9,826 | 1,349 | 4,922 |
| 01 May 22 | 29,994 | 8,629 | 1,372 | 4,872 |
| 30 Jan 22 | 28,501 | 7,531 | 1,329 | 4,849 |
| 31 Oct 21 | 27,450 | 6,437 | 1,347 | 4,854 |
| 01 Aug 21 | 26,510 | 5,773 | 1,412 | 4,836 |
| 02 May 21 | 25,553 | 4,586 | 1,494 | 4,859 |
| 31 Jan 21 | 24,685 | 3,662 | 1,670 | 4,890 |
| 01 Nov 20 | 23,888 | 2,664 | 1,821 | 4,968 |
| 02 Aug 20 | 23,197 | 2,232 | 1,865 | 4,963 |
| 03 May 20 | 22,891 | 2,332 | 1,847 | 4,970 |
| 02 Feb 20 | 22,666 | 2,532 | 1,765 | 4,852 |
| 03 Nov 19 | 22,597 | 2,707 | 1,708 | 4,696 |
| 04 Aug 19 | 22,265 | 3,004 | 1,508 | 4,467 |
| 05 May 19 | 21,813 | 3,486 | 1,332 | 4,191 |
| 03 Feb 19 | 21,310 | 6,514 | 1,207 | 3,976 |
| 04 Nov 18 | 20,848 | 12,278 | 1,027 | 3,768 |
| 05 Aug 18 | 20,248 | 11,690 | 1,001 | 3,648 |
| 06 May 18 | 19,648 | 10,976 | 967 | 3,516 |
| 04 Feb 18 | 18,824 | 7,699 | 877 | 3,409 |
| 29 Oct 17 | 17,636 | 1,698 | 777 | 3,302 |
| 30 Jul 17 | 16,928 | 601 | 730 | 3,270 |
| 30 Apr 17 | 16,257 | -168 | 758 | 3,257 |
| 29 Jan 17 | 15,608 | -1,760 | 755 | 3,215 |
| 30 Oct 16 | 13,240 | -1,627 | 764 | 2,674 |
| 31 Jul 16 | 10,944 | -587 | 590 | 2,155 |
| 01 May 16 | 8,887 | -57 | 505 | 1,617 |
| 31 Jan 16 | 6,960 | 1,430 | 412 | 1,081 |
| 01 Nov 15 | 6,824 | 1,391 | 415 | 1,049 |
| 02 Aug 15 | 6,574 | 1,058 | 430 | 996 |
Quality Earnings: AVGO has high quality earnings.
Growing Profit Margin: AVGO's current net profit margins (36.6%) are higher than last year (19%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: AVGO's earnings have grown significantly by 23.7% per year over the past 5 years.
Accelerating Growth: AVGO's earnings growth over the past year (141.3%) exceeds its 5-year average (23.7% per year).
Earnings vs Industry: AVGO earnings growth over the past year (141.3%) exceeded the Semiconductor industry 8.1%.
Return on Equity
High ROE: AVGO's Return on Equity (31.3%) is considered high.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/04 16:26 |
| End of Day Share Price | 2026/05/01 00:00 |
| Earnings | 2026/02/01 |
| Annual Earnings | 2025/11/02 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Broadcom Inc. is covered by 82 analysts. 45 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Stefan Chang | Aletheia Analyst Network Limited |
| Brett Simpson | Arete Research Services LLP |
| James Fontanelli | Arete Research Services LLP |