A Business at a Glance
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Qorvo, Inc.
QRVO
$8.1B
Mkt Cap
$86.51
-0.25%
Qorvo, Inc. (QRVO) has a current P/E ratio of 23.8, compared to its historical median P/E of 28.9. The stock is currently considered Fair based on its historical valuation range.
Qorvo, Inc. (QRVO) has a 5-year average return on invested capital (ROIC) of 7.0%. This is below average and may indicate limited pricing power.
Qorvo, Inc. (QRVO) has a market capitalization of $8.1B. It is classified as a mid-cap stock.
Qorvo, Inc. (QRVO) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 6.57%.
Based on historical P/E analysis, Qorvo, Inc. (QRVO) appears fair. The current P/E of 23.8 is 17% below its historical median of 28.9. The estimated fair value CAGR (P/E method) is 2.7%.
Qorvo, Inc. (QRVO) operates in the Semiconductors & Related Devices industry, within the Technology sector.
Qorvo, Inc. (QRVO) reported annual revenue of $3.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
Company Overview Qorvo® is a global leader in the development and commercialization of technologies and products for wireless, wired and power markets. We are organized into three operating and reportable segments that align our technologies and applications with customers and end markets: High Performance Analog ("HPA"), Connectivity and Sensors Group ("CSG") and Advanced Cellular Group ("ACG"). HPA is a leading global supplier of radio frequency ("RF"), analog mixed signal and power management solutions. CSG is a leading global supplier of connectivity and sensor solutions, with broad expertise spanning ultra-wideband ("UWB"), Matter®, Bluetooth® Low Energy ("BLE"), Zigbee®, Thread®, Wi-Fi®, cellular solutions for the Internet of Things ("IoT") and microelectromechanical system ("MEMS")-based sensors. ACG is a leading global supplier of advanced cellular solutions for smartphones, wearables, laptops, tablets and other devices.
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 3.7B | 3.7B | 3.7B | 3.8B | 3.6B | 4.6B |
| Net Income | 339M | 339M | 56M | -70M | 103M | 1.0B |
| EPS | $3.62 | $3.62 | $0.58 | $-0.72 | $1.00 | $9.26 |
| Free Cash Flow | 680M | 680M | 485M | 706M | 684M | 836M |
| ROIC | 9.5% | 9.2% | 1.8% | 1.1% | 2.8% | 20.2% |
| Gross Margin | 45.9% | 45.9% | 41.3% | 39.5% | 36.3% | 49.2% |
| Debt/Equity | 0.46 | 0.46 | 0.46 | 0.56 | 0.52 | 0.45 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 411M | 411M | 96M | 92M | 183M | 1.2B |
| Operating Margin | 11.2% | 11.2% | 2.6% | 2.4% | 5.1% | 26.4% |
| ROE | 10.1% | 10.1% | 1.6% | -1.9% | 2.4% | 22.5% |
| Shares Outstanding | 94M | 94M | 96M | 98M | 103M | 112M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.7B | 2.6B | 3.0B | 3.0B | 3.1B | 3.2B | 4.0B | 4.6B | 3.6B | 3.8B | 3.7B | 3.7B | 3.7B |
| Gross Margin | 40.3% | 40.2% | 37.4% | 38.6% | 38.7% | 40.8% | 46.9% | 49.2% | 36.3% | 39.5% | 41.3% | 45.9% | 45.9% |
| R&D | 257M | 449M | 471M | 445M | 450M | 484M | 570M | 624M | 650M | 682M | 748M | 726M | 726M |
| SG&A | 250M | 534M | 546M | 528M | 476M | 344M | 367M | 350M | 359M | 389M | 172M | 165M | 165M |
| EBIT | 122M | 12M | 88M | 70M | 216M | 423M | 907M | 1.2B | 183M | 92M | 96M | 411M | 411M |
| Op. Margin | 7.2% | 0.5% | 2.9% | 2.4% | 7.0% | 13.1% | 22.6% | 26.4% | 5.1% | 2.4% | 2.6% | 11.2% | 11.2% |
| Net Income | 196M | -29M | -17M | -40M | 133M | 334M | 734M | 1.0B | 103M | -70M | 56M | 339M | 339M |
| Net Margin | 11.5% | -1.1% | -0.5% | -1.4% | 4.3% | 10.3% | 18.3% | 22.2% | 2.9% | -1.9% | 1.5% | 9.2% | 9.2% |
| Non-Recurring | 11M | 10M | 2.1M | 68M | 51M | 48M | 2.7M | 50M | 38M | 266M | 146M | 44M | 44M |
| Returns on Capital | |||||||||||||
| ROIC | 4.0% | 0.2% | 1.0% | 0.8% | 4.6% | 7.4% | 16.3% | 20.2% | 2.8% | 1.1% | 1.8% | 9.2% | 9.5% |
| ROE | 5.7% | -0.5% | -0.3% | -0.8% | 2.9% | 7.7% | 16.4% | 22.5% | 2.4% | -1.9% | 1.6% | 10.1% | 10.1% |
| ROA | 5.0% | -0.4% | -0.3% | -0.6% | 2.2% | 5.4% | 10.6% | 14.0% | 1.5% | -1.1% | 0.9% | 5.8% | 5.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 306M | 688M | 777M | 853M | 810M | 946M | 1.3B | 1.0B | 843M | 833M | 622M | 809M | 809M |
| Free Cash Flow | 136M | 372M | 224M | 583M | 589M | 782M | 1.1B | 836M | 684M | 706M | 485M | 680M | 680M |
| Owner Earnings | 24M | -127M | -17M | 70M | 76M | 401M | 756M | 604M | 399M | 391M | 189M | 410M | 410M |
| CapEx | 170M | 316M | 553M | 270M | 221M | 164M | 187M | 213M | 159M | 127M | 138M | 129M | 129M |
| Maint. CapEx | 217M | 675M | 705M | 714M | 663M | 469M | 456M | 361M | 339M | 321M | 297M | 262M | 262M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 217M | 675M | 705M | 714M | 663M | 469M | 456M | 361M | 339M | 321M | 297M | 262M | 262M |
| CapEx/OCF | 55.6% | 45.9% | 71.1% | 31.7% | 27.3% | 17.4% | 14.4% | 20.3% | 18.9% | 15.3% | 22.1% | N/A | 16.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 51M | 1.3B | 209M | 220M | 638M | 515M | 515M | 1.2B | 862M | 400M | 356M | 533M | 533M |
| Buyback Yield | 0.7% | 18.4% | 2.4% | 2.5% | 7.2% | 5.3% | 2.4% | 8.0% | 8.6% | 3.6% | 5.2% | 0.0% | 6.6% |
| Stock-Based Comp | 65M | 140M | 89M | 68M | 72M | 76M | 89M | 84M | 106M | 121M | 136M | 136M | 136M |
| Debt Repayment | 88M | 175M | 0 | 108M | 1.1B | 0 | 1.1B | 198M | 0 | 58M | 439M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -545M | 375M | 444M | 57M | 210M | 859M | 350M | 1.1B | 1.2B | 959M | 528M | 330M | 330M |
| Cash & Equiv. | 300M | 426M | 545M | 926M | 711M | 715M | 1.4B | 973M | 809M | 1.0B | 1.0B | 1.2B | 1.2B |
| Long-Term Debt | 0 | 988M | 989M | 983M | 921M | 1.6B | 1.7B | 2.0B | 2.0B | 1.5B | 1.5B | 1.5B | 1.5B |
| Debt/Equity | 0.00 | 0.20 | 0.20 | 0.21 | 0.21 | 0.37 | 0.38 | 0.45 | 0.52 | 0.56 | 0.46 | 0.46 | 0.46 |
| Interest Coverage | 86.2 | 0.5 | 1.5 | 1.2 | 4.9 | 7.0 | 12.1 | 19.4 | 2.7 | 1.3 | 1.2 | 5.6 | 5.6 |
| Equity | 6.2B | 5.0B | 4.9B | 4.8B | 4.4B | 4.3B | 4.6B | 4.6B | 3.9B | 3.6B | 3.4B | 3.3B | 3.3B |
| Total Assets | 6.9B | 6.6B | 6.5B | 6.4B | 5.8B | 6.6B | 7.2B | 7.5B | 6.7B | 6.6B | 5.9B | 5.8B | 5.8B |
| Total Liabilities | 719M | 1.6B | 1.6B | 1.6B | 1.4B | 2.3B | 2.6B | 3.0B | 2.8B | 3.0B | 2.5B | 2.5B | 2.5B |
| Intangibles | 2.3B | 1.8B | 1.4B | 860M | 408M | 809M | 611M | 675M | 538M | 509M | 273M | 122M | 122M |
| Retained Earnings | -411M | -440M | -456M | -459M | -321M | 0 | 355M | 512M | 84M | -90M | -34M | 39M | 39M |
| Working Capital | 1.2B | 1.1B | 1.0B | 1.4B | 1.2B | 1.2B | 1.8B | 1.8B | 1.5B | 1.2B | 1.4B | 1.6B | 1.6B |
| Current Assets | 1.5B | 1.5B | 1.5B | 1.8B | 1.7B | 1.7B | 2.5B | 2.4B | 2.0B | 2.4B | 2.2B | 2.3B | 2.3B |
| Current Liabilities | 325M | 374M | 419M | 441M | 436M | 539M | 682M | 675M | 556M | 1.2B | 783M | 713M | 713M |
| Per Share Data | |||||||||||||
| EPS | 2.11 | -0.20 | -0.13 | -0.32 | 1.05 | 2.80 | 6.32 | 9.26 | 1.00 | -0.72 | 0.58 | 3.62 | 3.62 |
| Owner EPS | 0.25 | -0.88 | -0.13 | 0.56 | 0.60 | 3.36 | 6.52 | 5.42 | 3.87 | 4.01 | 1.97 | 4.38 | 4.38 |
| Book Value | 66.35 | 34.67 | 38.45 | 37.93 | 34.39 | 35.95 | 39.88 | 40.80 | 37.84 | 36.41 | 35.38 | 35.71 | 35.71 |
| Cash Flow/Share | 3.29 | 4.77 | 6.10 | 6.77 | 6.39 | 7.92 | 11.22 | 9.40 | 8.17 | 8.53 | 6.49 | 8.64 | 6.42 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 93.0M | 144.2M | 127.4M | 125.9M | 126.8M | 119.4M | 116.1M | 111.6M | 103.2M | 97.7M | 95.9M | 93.6M | 93.6M |
| Valuation | |||||||||||||
| P/E Ratio | 37.6 | N/A | N/A | N/A | 66.9 | 28.8 | 28.9 | 13.9 | 97.6 | N/A | 123.3 | N/A | 23.9 |
| P/FCF | 54.3 | 19.0 | 38.8 | 14.8 | 15.1 | 12.3 | 19.0 | 17.2 | 14.7 | 15.9 | 14.1 | N/A | 11.9 |
| EV/EBIT | 56.5 | 623.1 | 97.6 | 110.4 | 38.8 | 23.1 | 22.2 | 11.8 | 57.3 | 126.3 | 66.6 | N/A | 20.5 |
| Price/Book | 1.2 | 1.4 | 1.8 | 1.8 | 2.0 | 2.2 | 4.6 | 3.2 | 2.6 | 3.2 | 2.0 | N/A | 2.4 |
| Price/Sales | 3.9 | 3.2 | 2.4 | 3.1 | 3.0 | 3.1 | 3.9 | 4.0 | 2.9 | 2.6 | 2.4 | N/A | 2.2 |
| FCF Yield | 1.8% | 5.3% | 2.6% | 6.8% | 6.6% | 8.1% | 5.3% | 5.8% | 6.8% | 6.3% | 7.1% | N/A | 8.4% |
| Market Cap | 7.4B | 7.1B | 8.7B | 8.6B | 8.9B | 9.6B | 21.2B | 14.4B | 10.1B | 11.2B | 6.9B | 0 | 8.1B |
| Avg. Price | 70.89 | 58.52 | 56.05 | 72.30 | 72.76 | 84.64 | 135.19 | 166.93 | 99.46 | 101.15 | 94.14 | 0.00 | 86.51 |
| Year-End Price | 79.28 | 49.10 | 68.25 | 68.54 | 70.23 | 80.69 | 182.50 | 128.86 | 97.61 | 114.83 | 71.50 | 0.00 | 86.51 |
Qorvo, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
Qorvo, Inc. trades at 23.8x trailing earnings, compared to its 15-year median P/E of 28.9x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 13.5x vs a median of 15.1x. The company's 5-year average ROIC is 7.0% with a gross margin of 42.4%. Total shareholder yield (buybacks) is 6.6%. At current prices, the estimated annualized return to fair value is +1.5%.
Qorvo, Inc. (QRVO) has a net profit margin of 9.2%. This is a modest margin.
Qorvo, Inc. (QRVO) generated $680 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Qorvo, Inc. (QRVO) has a debt-to-equity ratio of 0.46. This indicates a conservatively financed balance sheet.
Qorvo, Inc. (QRVO) reported earnings per share (EPS) of $3.62 in its most recent fiscal year.
Qorvo, Inc. (QRVO) has a return on equity (ROE) of 10.1%. This indicates moderate shareholder returns.
Qorvo, Inc. (QRVO) has a 5-year average gross margin of 42.4%. This indicates decent pricing power.
The Ledger Terminal provides 14 years of financial data for Qorvo, Inc. (QRVO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Qorvo, Inc. (QRVO) has a book value per share of $35.71, based on its most recent annual SEC filing.