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 | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue | $3.68B | $3.72B | $3.77B | $3.57B | $4.65B | $4.02B |
| Cost of Revenue | $1.99B | $2.18B | $2.28B | $2.27B | $2.36B | $2.13B |
| Gross Profit | $1.69B | $1.54B | $1.49B | $1.30B | $2.29B | $1.88B |
| R&D | $726.12M | $747.71M | $682.25M | $649.84M | $623.64M | $570.39M |
| SG&A | $165.19M | $148.10M | $389.14M | $358.79M | $349.72M | $367.24M |
| Total Operating Expenses | $1.28B | $1.44B | $1.40B | $1.11B | $1.06B | $976.94M |
| D&A | $151.34M | $163.22M | $193.03M | $206.42M | $210.95M | $203.21M |
| Operating Income | $411.42M | $95.53M | $91.70M | $183.17M | $1.23B | $906.63M |
| Interest Expense | $73.13M | $78.33M | $69.25M | $68.46M | $63.33M | $75.20M |
| Income Tax | $59.28M | $10.28M | $143.88M | $21.48M | $147.73M | $73.77M |
| Net Income | $338.99M | $55.62M | ($70.32M) | $103.15M | $1.03B | $733.61M |
| EPS - Basic | $3.66 | $0.59 | ($0.72) | $1.01 | $9.38 | $6.43 |
| EPS - Diluted | $3.62 | $0.58 | ($0.72) | $1.00 | $9.26 | $6.32 |
Balance Sheet
| Line item | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.22B | $1.02B | $1.03B | $808.76M | $972.59M | $1.40B |
| Accounts Receivable | $382.51M | $386.72M | $412.96M | $304.52M | $568.85M | $457.43M |
| Inventory | $553.72M | $640.99M | $710.55M | $796.60M | $755.75M | $507.79M |
| Accounts Payable | $242.87M | $260.66M | $252.99M | $210.70M | $327.92M | $313.87M |
| Current Assets | $2.31B | $2.17B | $2.45B | $2.03B | $2.45B | $2.48B |
| Total Assets | $5.83B | $5.93B | $6.55B | $6.69B | $7.51B | $7.22B |
| Current Liabilities | $712.76M | $783.18M | $1.23B | $555.76M | $675.13M | $681.58M |
| Long-term Debt | $1.55B | $1.55B | $1.55B | $2.05B | $2.05B | $1.74B |
| Total Liabilities | $2.48B | $2.54B | $3.00B | $2.79B | $2.96B | $2.59B |
| Stockholders' Equity | $3.34B | $3.39B | $3.56B | $3.90B | $4.55B | $4.63B |
| Retained Earnings | $38.79M | ($33.98M) | ($89.60M) | $84.50M | $512.14M | $355.04M |
Cash Flow
| Line item | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $808.63M | $622.20M | $833.19M | $843.23M | $1.05B | $1.30B |
| Investing Cash Flow | ($43.60M) | $36.55M | ($136.47M) | ($153.41M) | ($595.96M) | ($218.66M) |
| Financing Cash Flow | ($566.53M) | ($684.36M) | ($459.57M) | ($853.35M) | ($875.51M) | ($401.92M) |
| CapEx | $129.07M | $137.60M | $127.23M | $158.95M | $213.47M | $186.96M |
| Free Cash Flow | $679.56M | $484.60M | $705.96M | $684.28M | $835.78M | $1.11B |
Ratios
| Metric | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 45.9% | 41.3% | 39.5% | 36.3% | 49.2% | 46.9% |
| Operating margin | 11.2% | 2.6% | 2.4% | 5.1% | 26.4% | 22.6% |
| EBITDA margin | 15.3% | 7.0% | 7.6% | 10.9% | 30.9% | 27.6% |
| Net margin | 9.2% | 1.5% | -1.9% | 2.9% | 22.2% | 18.3% |
| Free cash flow margin | 18.5% | 13.0% | 18.7% | 19.2% | 18.0% | 27.8% |
| FCF / Net income | 2.00 | 8.71 | -10.04 | 6.63 | 0.81 | 1.52 |
| R&D / Revenue | 19.7% | 20.1% | 18.1% | 18.2% | 13.4% | 14.2% |
| SG&A / Revenue | 4.5% | 4.0% | 10.3% | 10.1% | 7.5% | 9.1% |
| Effective tax rate | 14.9% | 15.6% | 195.6% | 17.2% | 12.5% | 9.1% |
| Return on assets | 5.8% | 0.9% | -1.1% | 1.5% | 13.8% | 10.2% |
| Return on equity | 10.1% | 1.6% | -2.0% | 2.6% | 22.7% | 15.8% |
| Return on invested capital | 7.2% | 1.6% | 0.9% | 2.5% | 16.3% | 12.9% |
| Liquidity | ||||||
| Current ratio | 3.24 | 2.77 | 1.99 | 3.65 | 3.63 | 3.64 |
| Quick ratio | 2.46 | 1.95 | 1.41 | 2.22 | 2.51 | 2.90 |
| Cash ratio | 1.71 | 1.30 | 0.84 | 1.46 | 1.44 | 2.05 |
| Leverage | ||||||
| Debt / Equity | 0.46 | 0.46 | 0.44 | 0.52 | 0.45 | 0.38 |
| Debt / Assets | 0.27 | 0.26 | 0.24 | 0.31 | 0.27 | 0.24 |
| Debt / EBITDA | 2.75 | 5.99 | 5.44 | 5.26 | 1.42 | 1.57 |
| Interest coverage | 5.6x | 1.2x | 1.3x | 2.7x | 19.4x | 12.1x |
| Equity multiplier | 1.74 | 1.75 | 1.84 | 1.71 | 1.65 | 1.56 |
| Liabilities / Assets | 0.43 | 0.43 | 0.46 | 0.42 | 0.39 | 0.36 |
| Efficiency | ||||||
| Asset turnover | 0.63 | 0.63 | 0.58 | 0.53 | 0.62 | 0.56 |
| Inventory turnover | 3.59 | 3.41 | 3.21 | 2.85 | 3.12 | 4.20 |
| Days sales outstanding | 38d | 38d | 40d | 31d | 45d | 42d |
| Days inventory outstanding | 102d | 107d | 114d | 128d | 117d | 87d |
| Days payable outstanding | 45d | 44d | 40d | 34d | 51d | 54d |
| Cash conversion cycle | 95d | 102d | 113d | 125d | 111d | 75d |
| Valuation | ||||||
| P / E | 21.4x | 145.7x | - | 101.6x | 13.1x | 30.5x |
| P / B | 2.2x | 2.4x | 1.9x | 2.7x | 3.0x | 4.8x |
| P / S | 2.0x | 2.2x | 1.8x | 2.9x | 2.9x | 5.6x |
| EV / EBITDA | 13.4x | 33.2x | 25.8x | 30.0x | 10.2x | 20.5x |
| Growth | ||||||
| Revenue growth (YoY) | -1.1% | -1.3% | 5.6% | -23.2% | 15.7% | 24.0% |
| Revenue CAGR (3y) | 1.0% | -7.1% | -2.1% | 3.3% | - | 10.5% |
| Revenue CAGR (5y) | -1.7% | 2.8% | - | 3.7% | - | 9.0% |
| Gross profit growth (YoY) | 9.9% | 3.2% | 14.8% | -43.3% | 21.4% | 42.5% |
| Operating income growth (YoY) | 330.7% | 4.2% | -49.9% | -85.1% | 35.2% | 114.2% |
| Net income growth (YoY) | 509.5% | - | - | -90.0% | 40.9% | 119.4% |
| EPS growth (YoY) | 524.1% | - | - | -89.2% | 46.5% | 125.7% |
| EPS CAGR (3y) | 53.5% | -60.3% | - | -29.1% | - | - |
| EPS CAGR (5y) | -10.5% | -27.0% | - | - | - | - |
| FCF growth (YoY) | 40.2% | -31.4% | 3.2% | -18.1% | -25.0% | 42.7% |
| FCF CAGR (5y) | -9.4% | -9.1% | - | 3.3% | - | 24.5% |
| Book value growth (YoY) | -1.4% | -4.6% | -8.9% | -14.3% | -1.6% | 7.8% |
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%
Stability scores
Altman Z′
FY 2026 · bankruptcy risk
1.62
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2026 · 9-point quality
9/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Semiconductors & Related Devices
Comparing Qorvo against the 5 most active filers in the same SIC group.