QRVO · Qorvo, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $818.78M | $992.96M | $1.06B | $886.67M | $916.32M | $1.05B | $651.16M | $1.07B | $1.10B | $1.16B |
| Cost of Revenue | $486.98M | $528.77M | $561.41M | $554.37M | $524.90M | $601.20M | $422.09M | $685.98M | $613.80M | $619.13M |
| Gross Profit | $331.80M | $464.19M | $497.09M | $332.30M | $391.42M | $445.31M | $229.07M | $387.88M | $489.69M | $538.93M |
| R&D | $179.24M | $178.07M | $198.42M | $187.60M | $179.13M | $201.05M | $163.09M | $164.33M | $174.95M | $168.16M |
| SG&A | $51.00M | $32.01M | $47.68M | $114.92M | $90.36M | $107.76M | $105.42M | $86.91M | $103.70M | $97.75M |
| Total Operating Expenses | $301.72M | $272.05M | $339.40M | $327.70M | $338.39M | $435.63M | $277.21M | $429.45M | $338.26M | $277.37M |
| D&A | $39.47M | - | - | $41.28M | - | - | $50.03M | - | - | - |
| Operating Income | $30.09M | $192.14M | $157.68M | $4.61M | $53.02M | $9.68M | ($48.14M) | ($41.57M) | $151.43M | $261.56M |
| Interest Expense | $18.79M | $18.02M | $18.48M | $17.09M | $18.66M | $22.59M | $17.26M | $17.58M | $17.12M | $16.90M |
| Income Tax | $6.09M | $25.74M | $35.49M | ($1.14M) | $7.63M | $19.94M | ($8.10M) | $83.15M | $42.06M | $58.26M |
| Net Income | $25.59M | $164.06M | $119.60M | $414.0K | $41.27M | ($17.43M) | ($43.58M) | ($126.94M) | $97.46M | $188.62M |
| EPS - Basic | $0.28 | $1.77 | $1.29 | $0.00 | $0.44 | ($0.18) | ($0.44) | ($1.31) | $1.00 | $1.83 |
| EPS - Diluted | $0.27 | $1.75 | $1.28 | $0.00 | $0.43 | ($0.18) | ($0.44) | ($1.31) | $0.99 | $1.82 |
Balance Sheet
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.22B | $1.32B | $1.10B | $1.02B | $769.43M | $1.10B | $1.03B | $1.07B | $706.84M | $808.76M |
| Accounts Receivable | $382.51M | $487.66M | $543.39M | $386.72M | $427.86M | $580.96M | $412.96M | $483.81M | $592.74M | $304.52M |
| Inventory | $553.72M | $530.18M | $605.34M | $640.99M | $656.22M | $694.46M | $710.55M | $726.69M | $839.86M | $796.60M |
| Accounts Payable | $242.87M | $240.52M | $284.84M | $260.66M | $283.34M | $321.88M | $252.99M | $282.95M | $275.26M | $210.70M |
| Current Assets | $2.31B | $2.48B | $2.38B | $2.17B | $2.10B | $2.53B | $2.45B | $2.43B | $2.26B | $2.03B |
| Total Assets | $5.83B | $6.16B | $6.10B | $5.93B | $5.96B | $6.50B | $6.55B | $6.70B | $6.72B | $6.69B |
| Current Liabilities | $712.76M | $675.70M | $804.58M | $783.18M | $807.86M | $1.33B | $1.23B | $1.28B | $671.94M | $555.76M |
| Long-term Debt | $1.55B | $1.55B | $1.55B | $1.55B | $1.55B | $1.55B | $2.05B | $1.55B | $2.05B | $2.05B |
| Total Liabilities | $2.48B | $2.47B | $2.59B | $2.54B | $2.58B | $3.09B | $3.00B | $3.06B | $2.90B | $2.79B |
| Stockholders' Equity | $3.34B | $3.70B | $3.51B | $3.39B | $3.38B | $3.41B | $3.56B | $3.64B | $3.82B | $3.90B |
| Retained Earnings | $38.79M | $226.74M | $72.89M | ($33.98M) | ($65.35M) | ($106.62M) | ($89.60M) | ($92.33M) | $34.61M | $84.50M |
Cash Flow
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $182.94M | - | - | $81.08M | - | - | $44.89M | - | - | - |
| Investing Cash Flow | ($33.33M) | - | - | ($17.18M) | - | - | ($3.94M) | - | - | - |
| Financing Cash Flow | ($6.93M) | - | - | ($29.52M) | - | - | ($105.19M) | - | - | - |
| CapEx | $37.54M | - | - | $38.23M | - | - | $39.47M | - | - | - |
| Free Cash Flow | $145.40M | - | - | $42.85M | - | - | $5.42M | - | - | - |
Ratios
| Metric | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 40.5% | 46.7% | 47.0% | 37.5% | 42.7% | 42.6% | 35.2% | 36.1% | 44.4% | 46.5% |
| Operating margin | 3.7% | 19.4% | 14.9% | 0.5% | 5.8% | 0.9% | -7.4% | -3.9% | 13.7% | 22.6% |
| EBITDA margin | 8.5% | - | - | 5.2% | - | - | 0.3% | - | - | - |
| Net margin | 3.1% | 16.5% | 11.3% | 0.0% | 4.5% | -1.7% | -6.7% | -11.8% | 8.8% | 16.3% |
| Free cash flow margin | 17.8% | - | - | 4.8% | - | - | 0.8% | - | - | - |
| FCF / Net income | 5.68 | - | - | 103.51 | - | - | -0.12 | - | - | - |
| R&D / Revenue | 21.9% | 17.9% | 18.7% | 21.2% | 19.5% | 19.2% | 25.0% | 15.3% | 15.9% | 14.5% |
| SG&A / Revenue | 6.2% | 3.2% | 4.5% | 13.0% | 9.9% | 10.3% | 16.2% | 8.1% | 9.4% | 8.4% |
| Effective tax rate | 19.2% | 13.6% | 22.9% | - | 15.6% | 796.6% | - | - | 30.1% | 23.6% |
| Return on assets | 0.4% | 2.7% | 2.0% | 0.0% | 0.7% | -0.3% | -0.7% | -1.9% | 1.5% | 2.8% |
| Return on equity | 0.8% | 4.4% | 3.4% | 0.0% | 1.2% | -0.5% | -1.2% | -3.5% | 2.6% | 4.8% |
| Return on invested capital | 0.5% | 3.2% | 2.4% | 0.1% | 0.9% | 0.1% | -0.7% | -0.6% | 1.8% | 3.4% |
| Liquidity | ||||||||||
| Current ratio | 3.24 | 3.67 | 2.95 | 2.77 | 2.60 | 1.90 | 1.99 | 1.90 | 3.37 | 3.65 |
| Quick ratio | 2.46 | 2.89 | 2.20 | 1.95 | 1.78 | 1.38 | 1.41 | 1.33 | 2.12 | 2.22 |
| Cash ratio | 1.71 | 1.95 | 1.37 | 1.30 | 0.95 | 0.82 | 0.84 | 0.84 | 1.05 | 1.46 |
| Leverage | ||||||||||
| Debt / Equity | 0.46 | 0.42 | 0.44 | 0.46 | 0.46 | 0.45 | 0.58 | 0.43 | 0.54 | 0.52 |
| Debt / Assets | 0.27 | 0.25 | 0.25 | 0.26 | 0.26 | 0.24 | 0.31 | 0.23 | 0.30 | 0.31 |
| Debt / EBITDA | 22.27 | - | - | 33.76 | - | - | 1079.64 | - | - | - |
| Interest coverage | 1.6x | 10.7x | 8.5x | 0.3x | 2.8x | 0.4x | -2.8x | -2.4x | 8.8x | 15.5x |
| Equity multiplier | 1.74 | 1.67 | 1.74 | 1.75 | 1.76 | 1.91 | 1.84 | 1.84 | 1.76 | 1.71 |
| Liabilities / Assets | 0.43 | 0.40 | 0.42 | 0.43 | 0.43 | 0.48 | 0.46 | 0.46 | 0.43 | 0.42 |
| Efficiency | ||||||||||
| Asset turnover | 0.14 | 0.16 | 0.17 | 0.15 | 0.15 | 0.16 | 0.10 | 0.16 | 0.16 | 0.17 |
| Inventory turnover | 0.88 | 1.00 | 0.93 | 0.86 | 0.80 | 0.87 | 0.59 | 0.94 | 0.73 | 0.78 |
| Days sales outstanding | 171d | 179d | 187d | 159d | 170d | 203d | 231d | 164d | 196d | 96d |
| Days inventory outstanding | 415d | 366d | 394d | 422d | 456d | 422d | 614d | 387d | 499d | 470d |
| Days payable outstanding | 182d | 166d | 185d | 172d | 197d | 195d | 219d | 151d | 164d | 124d |
| Cash conversion cycle | 404d | 379d | 396d | 410d | 430d | 429d | 627d | 401d | 532d | 441d |
| Valuation | ||||||||||
| P / E | 286.5x | 49.2x | 72.7x | - | 166.1x | - | - | - | 96.4x | 55.8x |
| P / B | 2.2x | 2.2x | 2.5x | 2.0x | 2.0x | 2.9x | 3.2x | 3.0x | 2.5x | 2.7x |
| P / S | 8.9x | 8.1x | 8.2x | 7.8x | 7.4x | 9.4x | 17.4x | 10.2x | 8.5x | 9.1x |
| EV / EBITDA | 109.0x | - | - | 161.9x | - | - | 6500.1x | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -7.7% | 8.4% | 1.1% | 36.2% | -14.7% | -5.2% | -37.1% | 44.5% | -4.7% | -7.7% |
| Revenue CAGR (3y) | -7.5% | 10.1% | -3.0% | -7.2% | -6.3% | -5.9% | -6.1% | -0.6% | 1.3% | 12.8% |
| Revenue CAGR (5y) | 0.8% | -1.9% | -0.0% | 2.7% | 1.1% | 5.3% | - | 5.2% | 4.5% | 7.1% |
| Gross profit growth (YoY) | -0.2% | 18.6% | 11.6% | 45.1% | 0.9% | -9.1% | -39.0% | 44.7% | -9.1% | -13.3% |
| Operating income growth (YoY) | 553.2% | 262.4% | 1529.8% | - | - | -93.6% | - | - | -42.1% | -27.8% |
| Net income growth (YoY) | 6082.1% | 297.5% | - | - | - | - | - | -696.8% | -48.3% | -40.9% |
| EPS growth (YoY) | - | 307.0% | - | - | - | - | - | -718.8% | -45.6% | -35.9% |
| EPS CAGR (3y) | -25.4% | - | -11.1% | - | -39.6% | - | - | - | -5.7% | 37.5% |
| EPS CAGR (5y) | -20.1% | 0.1% | 1.6% | - | -20.6% | - | - | - | 31.7% | 46.5% |
| FCF growth (YoY) | 239.3% | - | - | 690.6% | - | - | -97.6% | - | - | - |
| FCF CAGR (5y) | -4.6% | - | - | -27.0% | - | - | - | - | - | - |
| Book value growth (YoY) | -1.4% | 9.4% | 2.9% | -4.6% | -7.1% | -10.7% | -17.3% | -12.6% | -2.2% | -14.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-03-28.
Business segments
$3.68B totalACG$2.55B · 69.4%
HPA$705.66M · 19.2%
CSG$421.65M · 11.5%
Geographic
$3.68B totalUS$2.32B · 63.0%
CN$474.87M · 12.9%
Other Asia$431.86M · 11.7%
TW$357.74M · 9.7%
Europe$98.28M · 2.7%
Peer comparison
Same SIC group: Semiconductors & Related Devices
Comparing Qorvo against the 5 most active filers in the same SIC group.