VMware Future Growth

Future criteria checks 2/6

VMware is forecast to grow earnings and revenue by 14.2% and 7.6% per annum respectively. EPS is expected to grow by 12% per annum. Return on equity is forecast to be 37.5% in 3 years.

Key information

14.2%

Earnings growth rate

12.0%

EPS growth rate

Software earnings growth	15.7%
Revenue growth rate	7.6%
Future return on equity	37.5%
Analyst coverage	Good
Last updated	22 Nov 2023

Recent future growth updates

Recent updates

Broadcom said to file request for European antitrust approval for VMware - report

Nov 15

VMware opens research and innovation center in Montreal

Oct 11

Favorable Odds On Broadcom's Acquisition Of VMware

Sep 12

VMware's vSphere 8 Brings DPUs From AMD, Intel, And Nvidia To Life

Sep 01

VMware Q2 2023 Earnings Preview

Aug 25

Profit From The Broadcom Takeover Of VMware

Aug 17

VMWare said not to get rival offer in go-shop period for Broadcom deal

Jul 05

VMware Q1 Earnings Preview: Are They Executing The Multi-Cloud Strategy As Planned?

May 25

Investors Will Want VMware's (NYSE:VMW) Growth In ROCE To Persist

May 02

VMware: Don't Let Short-Term Movements Distract You

Apr 05

VMware, Inc.'s (NYSE:VMW) Intrinsic Value Is Potentially 90% Above Its Share Price

Mar 28

VMware Struggles Today To Bloom Tomorrow

Mar 12

Earnings and Revenue Growth Forecasts

NYSE:VMW - Analysts future estimates and past financials data (USD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
1/31/2026	15,616	2,218	5,961	5,921	4
1/31/2025	15,072	2,149	4,717	5,070	8
1/31/2024	14,035	1,733	4,060	4,517	13
8/4/2023	13,611	1,426	4,662	5,092	N/A
5/5/2023	13,539	1,296	4,596	5,045	N/A
2/3/2023	13,350	1,314	3,850	4,300	N/A
10/28/2022	13,166	1,406	3,354	3,804	N/A
7/29/2022	13,143	1,573	3,181	3,629	N/A
4/29/2022	12,945	1,637	3,674	4,096	N/A
1/28/2022	12,851	1,820	3,971	4,357	N/A
10/29/2021	12,614	2,025	4,199	4,544	N/A
7/30/2021	12,290	2,061	4,122	4,445	N/A
4/30/2021	12,027	2,097	3,989	4,301	N/A
1/29/2021	11,767	2,058	4,080	4,409	N/A
10/30/2020	11,546	1,589	3,859	4,170	N/A
7/31/2020	11,338	1,562	3,652	3,931	N/A
5/1/2020	11,095	6,418	3,558	3,851	N/A
1/31/2020	10,811	6,412	3,593	3,872	N/A
11/1/2019	10,968	5,820	3,502	3,793	N/A
8/2/2019	10,512	5,747	3,514	3,810	N/A
5/3/2019	10,055	1,088	3,691	3,957	N/A
2/1/2019	9,613	1,650	3,403	3,657	N/A
11/2/2018	8,609	1,534	3,225	3,502	N/A
8/3/2018	8,347	1,595	3,423	3,702	N/A
5/4/2018	8,105	1,356	3,261	3,536	N/A
2/2/2018	8,336	437	2,825	3,101	N/A
2/3/2017	6,144	-60	N/A	4,332	N/A
12/31/2016	7,073	1,223	N/A	2,379	N/A
9/30/2016	6,928	1,119	N/A	2,405	N/A
6/30/2016	6,821	1,055	N/A	2,197	N/A
3/31/2016	6,725	962	N/A	1,936	N/A
12/31/2015	6,647	997	N/A	1,899	N/A
9/30/2015	6,481	949	N/A	1,826	N/A
6/30/2015	6,326	888	N/A	2,020	N/A
3/31/2015	6,186	883	N/A	2,113	N/A
12/31/2014	6,035	886	N/A	2,180	N/A
9/30/2014	5,816	895	N/A	2,452	N/A
6/30/2014	5,589	962	N/A	2,484	N/A
3/31/2014	5,376	1,040	N/A	2,609	N/A
12/31/2013	5,207	1,014	N/A	2,535	N/A
9/30/2013	5,017	885	N/A	2,341	N/A
6/30/2013	4,862	781	N/A	2,139	N/A
3/31/2013	4,741	728	N/A	1,996	N/A
12/31/2012	4,605	746	N/A	1,897	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: VMW's forecast earnings growth (14.2% per year) is above the savings rate (2.2%).

Earnings vs Market: VMW's earnings (14.2% per year) are forecast to grow slower than the US market (14.4% per year).

High Growth Earnings: VMW's earnings are forecast to grow, but not significantly.

Revenue vs Market: VMW's revenue (7.6% per year) is forecast to grow slower than the US market (7.9% per year).

High Growth Revenue: VMW's revenue (7.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: VMW's Return on Equity is forecast to be high in 3 years time (37.5%)

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VMware Future Growth

Future criteria checks 2/6

Key information

Recent future growth updates

Price target increased by 7.6% to US$159

VMware, Inc. Provides Consolidated Earnings Guidance for the Third Quarter of 2022

Recent updates

VMware LLC Files Form 15

VMware, Inc.(NYSE:VMW) dropped from FTSE All-World Index (USD)

VMware, Inc.(NYSE:VMW) dropped from FTSE All-World Index (USD)

Broadcom Inc. (NasdaqGS:AVGO) completed the acquisition of VMware, Inc. (NYSE:VMW) from Michael S. Dell, Dodge & Cox, Silver Lake Management, L.L.C., Silver Lake Partners V DE (AIV), L.P., SL SPV-2, L.P. and others.

Broadcom Inc. (NasdaqGS:AVGO) completed the acquisition of VMware, Inc. (NYSE:VMW) from Michael S. Dell, Dodge & Cox, Silver Lake Management, L.L.C., Silver Lake Partners V DE (AIV), L.P., SL SPV-2, L.P. and others.

VMware Extends Tanzu Platform Capabilities to Build Apps for the Generative AI Economy

VMware, Inc. Accelerates Data-Driven Innovation with New Advanced Data Services Capabilities for VMware Cloud Foundation

VMware, Inc.(NYSE:VMW) dropped from S&P Software & Services Select Industry Index

Vmware, Inc. Announces That VMware Cross-Cloud Services Available to Customers Through the Oracle Cloud Marketplace

Insider recently sold US$1.0m worth of stock

Insider notifies of intention to sell stock

VMware: What China Might Ask Of Broadcom Is Concerning Markets

Price target increased by 7.6% to US$159

New minor risk - Shareholder dilution

Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

Vmware, Inc. Puts the Power of Generative Ai Within Reach of Any Enterprise

VMware, Inc. Introduces New Private AI Offerings

VMware: Subscription Revenue Status And Regulatory Update

Insider recently sold US$2.5m worth of stock

Insider notifies of intention to sell stock

VMware, Inc.(NYSE:VMW) dropped from Russell Small Cap Comp Value Index

VMware, Inc., Annual General Meeting, Jul 13, 2023

New minor risk - Shareholder dilution

First quarter 2024 earnings: EPS misses analyst expectations

VMware, Inc. Announces Executive Changes

Executive VP & CFO notifies of intention to sell stock

Full year 2023 earnings: EPS misses analyst expectations

VMware: Still Solid, Acquisition Or Not

Dell Technologies Inc. (NYSE:DELL) acquired Cloudify Platform Ltd. from BRM Group, VMware, Inc. (NYSE:VMW), KPN Ventures, Claridge Israel, Creditease Corp., Investment Arm and others.

VMware, Inc. Unveils New Solution to Help Global Retailers Modernize Point of Sale and Unlock More Financial Value from Their POS Systems

Insider recently sold US$805k worth of stock

Executive VP & CFO notifies of intention to sell stock

Broadcom to face in-depth European probe into VMware deal - report

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

Broadcom said to file request for European antitrust approval for VMware - report

VMware, Inc Unveiled Its Next-Generation SD-WAN Solution

VMware opens research and innovation center in Montreal

VMware, Inc. Spurs CSP Network Modernization with Major Advances in Telco Cloud Portfolio

Favorable Odds On Broadcom's Acquisition Of VMware

President notifies of intention to sell stock

VMware's vSphere 8 Brings DPUs From AMD, Intel, And Nvidia To Life

Vmware Tanzu Supercharges Portfolio to Help Customers Build, Run, and Manage Cloud Native Apps

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

VMware Q2 2023 Earnings Preview

Profit From The Broadcom Takeover Of VMware

Vmware, Inc. Introduces Advanced Workload Protection for AWS to Help Defend Against Emerging Threats

Court of Chancery of the State of Delaware Proposes Settlement for VMware, Inc and Dell Technologies Inc

VMWare said not to get rival offer in go-shop period for Broadcom deal

VMware Unveils vSphere+ and vSAN+ to Simplify Operations with Centralized Infrastructure Management, Increase Developer Velocity with Integrated Kubernetes, and Extend On-Premises with Hybrid Cloud Services

Insider recently sold US$1.6m worth of stock

Executive VP & CFO notifies of intention to sell stock

Vmware Advances Its Anywhere Workspace Platform to Enable Intelligent, Proactive Security for All Employee Devices

VMware, Inc. Provides Consolidated Earnings Guidance for the Third Quarter of 2022

Executive VP notifies of intention to sell stock

First quarter 2023 earnings: EPS and revenues miss analyst expectations

VMware, Inc. to Report Q3, 2023 Results on Nov 22, 2022

VMware Q1 Earnings Preview: Are They Executing The Multi-Cloud Strategy As Planned?

Broadcom Reportedly in Talks to Acquire VMware

Investor sentiment improved over the past week

Broadcom Reportedly in Talks to Acquire VMware

VMware, Inc. to Report Q1, 2023 Results on May 26, 2022

VMware Appoints Sarene Lee as Country Manager for Malaysia

VMware, Inc. Announces Appointment of Nicole Anasenes to Board of Directors

Investors Will Want VMware's (NYSE:VMW) Growth In ROCE To Persist

VMware, Inc. Announces Executive Changes, Effective May 3, 2022

Alibaba Cloud and VMware Delivers Next-Generation Alibaba Cloud VMware Service to Accelerate Digital Innovation

Insider recently sold US$873k worth of stock

Executive VP & CFO notifies of intention to sell stock

VMware: Don't Let Short-Term Movements Distract You

VMware, Inc.'s (NYSE:VMW) Intrinsic Value Is Potentially 90% Above Its Share Price

VMware Struggles Today To Bloom Tomorrow

Sterlite Technologies Limited VMWare and ASOCS Unveil End-To-End 5G Enterprise Solution At MWC 2022

Earnings and Revenue Growth Forecasts