Broadcom Inc. (AVGO)
Fair ValueFundamental
75
मूल्य
$351.19
मार्केट कैप
$1.67T
भाग 1 · कंपनी का मूल्य कितना है
अवलोकन
Broadcom sells two very different things under one roof: custom and networking chips that go into smartphones, data-centre switches and the custom AI accelerators it co-designs for a few large cloud companies, and enterprise software — largely VMware, acquired in 2023 — that lets companies run their own private data centres. The chip side sells hardware; the software side sells subscriptions to run infrastructure most large companies already depend on.
यह पैसा कैसे कमाती है
Semiconductor revenue is booked when chips ship and depends on how much capacity customers are ordering, including multi-year custom AI chip programmes for a handful of cloud companies. Infrastructure Software revenue is increasingly subscription-based since VMware moved its licensing to that model, which makes it steadier and more predictable than the chip business, and it now carries software-like margins that pull up the company's overall profitability.
सेगमेंट के अनुसार राजस्व
Networking chips, custom AI accelerators and other semiconductors sold to data-centre, networking and smartphone customers.
Enterprise software, dominated by VMware, sold mainly as subscriptions to companies running private data centres.
प्रतिस्पर्धी बढ़त (Moat)
स्विचिंग कॉस्ट · व्यापकVMware's virtualization software sits underneath thousands of companies' data-centre applications, and ripping it out means re-architecting how those applications run — a project few companies choose to undertake. On the chip side, custom AI accelerators are co-designed over years with specific cloud customers, which creates its own multi-year lock-in for as long as that partnership lasts.
मांग को क्या चलाता है
मध्यम रूप से चक्रीयInfrastructure Software revenue is fairly steady, renewing on subscription terms tied to systems companies are not going to rip out quickly. Semiconductor revenue is far more cyclical, tracking data-centre and smartphone order cycles that can swing from shortage to oversupply within a year or two, so the combined business is less volatile than a pure chip company but still meaningfully cyclical.
प्रमुख जोखिम
- Concentration in a few large customers — A meaningful share of semiconductor revenue, including custom AI chips, comes from a small number of very large customers whose order changes move results materially.
- Integration and retention risk after the VMware acquisition — Moving VMware customers to subscription pricing has raised costs for some of them, and Broadcom's post-acquisition pricing and support changes could push customers to evaluate alternatives over time.
- Export controls and geopolitics — Restrictions on selling advanced chips to certain countries, and Broadcom's reliance on manufacturing capacity concentrated in Asia, expose the semiconductor business to rules that can change with little warning.
- Cyclicality of chip demand — Networking and custom AI chip demand can fall quickly if data-centre customers pause spending or shift capacity plans, and Broadcom carries the cost of capacity it commits to well before orders are confirmed.
खरीदने के पक्ष में तर्क
Buyers argue that Broadcom pairs a fast-growing, high-margin custom AI chip business with a large, sticky software franchise in VMware, giving it both AI-driven upside and a stable cash-generating base that a pure chip company lacks.
बेचने के पक्ष में तर्क
Sellers fear that AI chip revenue is concentrated in very few customers who could shift designs elsewhere, that VMware price increases are pushing some customers to look for alternatives, and that the combined business trades at a valuation that assumes both halves keep growing together indefinitely.
Written by the editors, published on 18 अगस्त 2026
Direct competitors
Who this company fights with for the same customers
Generated on 23 अगस्त 2026 with claude-opus-5 — shared with all users
The closest pure-play rival, bidding against Broadcom for the same hyperscaler contracts in custom AI accelerators (XPUs), Ethernet switching silicon and optical interconnect DSPs.
Competes for the same data-centre AI budget, offering off-the-shelf GPUs and its own Spectrum-X/InfiniBand networking as an alternative to Broadcom's custom accelerators and Tomahawk switch chips.
Rival supplier of RF front-end and Wi-Fi/Bluetooth connectivity chips to the same smartphone makers that account for Broadcom's wireless revenue.
Designs its own Silicon One switching chips for the data-centre and service-provider switches that would otherwise carry Broadcom's Tomahawk or Jericho silicon.
Targets the same enterprise private-cloud budget as VMware Cloud Foundation, actively courting the customers unsettled by Broadcom's subscription-only licensing.
Competes on price and design wins in Wi-Fi connectivity, set-top box and broadband access chips sold to the same consumer-electronics and telecom-operator customers.
बैलेंस शीट और तरलता
राजस्व
$89.10B
पिछले 12 महीने (2/8/2026 तक)
शुद्ध आय
$38.27B
पिछले 12 महीने (2/8/2026 तक)
Free Cash Flow
$26.91B
कुल इक्विटी
$81.29B
कुल देनदारियाँ
$89.80B
Current Ratio
2.50
Interest Coverage
13.74
Debt/EBITDA
1.14
Earnings Per Share
राजस्व और शुद्ध आय
Free Cash Flow
आय विवरण
ऐतिहासिक विवरण
समय के साथ मार्जिन
समय के साथ ऋण
ऋण कितना भारी है
वृद्धि तालिका
वृद्धि — राजस्व
Fair Value अनुमान
Fair Value
$376.69
वर्तमान मूल्य
$351.19
Margin of Safety
+6.8%
Fair Value सीमा
$244.85 - $508.53
इस्तेमाल किए गए valuation methods के बीच का फैलाव, कोई सांख्यिकीय रूप से calibrated confidence interval नहीं।
अनुमान विधियाँ
मूल्यांकन मेट्रिक्स
P/E Ratio
44.79
ROE
28.4%
P/B Ratio
16.82
P/FCF
42.55
Gross Margin
68.8%
ROIC
20.2%
लाभप्रदता Radar
मूल्य सृजन (प्रतिस्पर्धी बढ़त)
ROIC
20.2%
WACC
12.4%
ROIC − WACC
+7.8 pp
ROIC पूंजी की लागत से अधिक है — कंपनी शेयरधारकों के लिए मूल्य सृजित कर रही है।
Fundamental विश्लेषण मानदंड
पास (20)
- EPS shows upward trend
- Price CAGR 34.99%
- ROIC 20.2%
- Gross Margin 68.8%
- Debt/Equity ratio
- Operating Margin 48.0%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 43.9%
- Revenue Growth 5Y 21.7%
- Analyst Consensus 91% Buy
- PEG Ratio 0.94
- Earnings Quality (OCF/NI) 1.06
- Share Dilution 1.2%
- Net Margin Trend 42.9% vs 31.6%
- Piotroski F-Score 8/9
फेल (6)
- P/FCF 42.55
- P/B Ratio 16.82
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- Earnings Surprise avg 0.5%
अनुपलब्ध (1)
- Dividend Payout NaN%
Piotroski F-Score
मजबूत वित्तीय स्वास्थ्य
Earnings गुणवत्ता
उच्च गुणवत्ता: earnings नकदी द्वारा समर्थित
शेयर Dilution
शेयर संख्या स्थिर है
संस्थागत होल्डिंग
प्रशासन
कार्यकारी टीम
| नाम | पद | आयु |
|---|---|---|
| Mr. Hock Eng Tan | President, CEO & Executive Director | 73 |
| Mr. Mark D. Brazeal J.D. | Chief Legal & Corporate Affairs Officer | 57 |
| Dr. Charlie B. Kawwas Ph.D. | President of Semiconductor Solutions | 54 |
| Ms. Kirsten M. Spears | Consultant | 61 |
| Ms. Amie Thuener O'Toole | Chief Financial Officer | 50 |
| Mr. Alan Davidson | Chief Information Officer | - |
| Mr. Ji Yoo | Director of Investor Relations | - |
| Ms. Jill Turner | Vice President of Human Resources | - |
| Mr. Frank Ostojic | Senior VP & GM of ASIC Products Division | - |
| Mr. Rich Nelson | Senior VP & GM of Broadband Video Group | - |
Audit जोखिम
3
बोर्ड जोखिम
3
मुआवजा जोखिम
10
शेयरधारक अधिकार जोखिम
3
भाग 2 · कीमत और खरीदने का समय
यह हिस्सा यह नहीं बताता कि कंपनी अच्छी है या नहीं: यह तय करने में मदद करता है कि उसे कब खरीदें, जब फंडामेंटल आपको आश्वस्त कर चुके हों। इसमें: तकनीकी विश्लेषण, संभावना, ऐतिहासिक गिरावट, गामा एक्सपोज़र।
दस्तावेज़
- दस्तावेज़ देखें
वार्षिक रिपोर्ट (10-K)
कंपनी के कारोबार, वित्तीय नतीजों और जोखिमों का वार्षिक सिंहावलोकन।
दाखिल तिथि: 2025-12-18
- दस्तावेज़ देखें
तिमाही रिपोर्ट (10-Q)
पिछले तीन महीनों के वित्तीय प्रदर्शन का अपडेट।
दाखिल तिथि: 2026-09-10
- दस्तावेज़ देखें
विशेष रिपोर्ट (8-K)
किसी बड़ी घटना, जैसे नेतृत्व में बदलाव या बड़ी घोषणा, की सूचना।
दाखिल तिथि: 2026-09-02
via SEC EDGAR
आय का इतिहास
via SEC EDGAR
Latest News
Recent headlines for AVGO, sourced from Markets Gazette.
- 14m agoPOSITIVEPerché Broadcom finanzia Anthropic con 42 mld scommettendo sulle sue future spese
Broadcom has entered into a significant funding arrangement with AI startup Anthropic, committing up to $42 billion for infrastructure spending. This deal positions Broadcom not just as a supplier but as a key financial backer, potentially funding a third of Anthropic's five-year $125.2 billion commitment for TPU compute capacity. The agreement is strategically tied to Anthropic's future revenue ambitions, with the AI firm expected to become Broadcom's largest custom chip client by 2027. This move signals Broadcom's aggressive bet on the burgeoning AI market and its long-term growth prospects in specialized semiconductor solutions.
- 14d agoNEGATIVEBroadcom in calo per il panico sulla sicurezza AI: momento d'oro per comprare?
Broadcom Inc. shares have experienced a significant decline, falling over 31% from their yearly high to $340. This drop has placed the stock in a technical bear market, with its market capitalization shrinking from $2.29 trillion to $1.62 trillion. The sell-off is attributed to growing concerns within the AI sector, amplified by calls from industry leaders to slow down AI model releases due to security worries. Investors are closely monitoring the situation, as the broader AI market sentiment impacts key players like Broadcom.
- 24d agoPOSITIVEAzioni Broadcom: perché la storia di crescita del produttore di chip AI accelera
Broadcom Inc. is emerging as a key player in the AI infrastructure boom, with its AI semiconductor division experiencing robust growth and the company raising its long-term revenue outlook. The semiconductor and infrastructure software firm projects AI revenue to reach $115 billion in fiscal year 2027 and $230 billion in fiscal year 2028, driven by escalating demand for custom AI chips and networking solutions. Broadcom's AI semiconductor revenues surged by 221% year-over-year in the fiscal third quarter ending August 2nd. This significant expansion underscores Broadcom's strategic positioning and its capacity to capitalize on the accelerating AI market, signaling strong future performance for investors.
- 28d agoNEUTRALLe azioni Broadcom scendono: perché gli analisti sono divisi
Broadcom Inc. (AVGO) shares dipped 3% on Thursday despite exceeding Q3 earnings expectations and significantly raising AI revenue forecasts. The mixed market reaction stems from varied analyst price target adjustments. Evercore ISI lowered its target to $578 from $582, while TD Cowen cut theirs to $475 from $500. Conversely, Morgan Stanley raised its target to $505 from $502, and Cantor Fitzgerald increased theirs to $600 from $525. This divergence in analyst sentiment, despite strong company performance, creates uncertainty for investors.
- 28d agoNEGATIVEBroadcom verso un avvio in rosso a Wall Street all'indomani dei conti
Broadcom Inc. is poised for a negative opening on Wall Street, with its stock declining over 3% in pre-market trading following its latest financial results. The tech company's shares are under pressure after the announcement, indicating a potential investor concern or a reassessment of the company's valuation post-earnings. This pre-market dip suggests that the market may be reacting unfavorably to the reported figures or the forward guidance provided by Broadcom.
- 28d agoPOSITIVEBroadcom Sees AI Chip Boom as It Takes On Nvidia | The Pulse 9/3/2026
Broadcom Inc. is poised to capitalize on the burgeoning artificial intelligence chip market, presenting a significant challenge to incumbent Nvidia. The company's strategic positioning in AI hardware development is expected to drive substantial revenue growth, as demand for specialized processors in data centers and AI infrastructure continues to surge. This expansion into a high-growth sector signals a robust future for Broadcom, potentially leading to increased market share and investor confidence. The company's ability to innovate and compete effectively in this dynamic landscape is a key factor for its stock performance.
via Markets Gazette