BroadcomAVGO

BroadcomAVGO

Revenue: is the business selling more than it used to?

$35.8B+8% YoYFY 2023

→Revenue reached $35.8B in 2023, compounding +13% a year since 2017 and the pace is picking up. The trailing twelve months are already running at $75.5B, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

Net income: how much of that revenue becomes profit?

$14.1B+23% YoYFY 2023

→Net income was $14.1B in 2023, compounding +42% a year over three years. Trailing twelve-month profit stands at $29.3B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

How fast is it growing, year by year?

+7.9%revenue growth, FY 2023

→Revenue grew +8% in 2023 against a five-year average of +29%. Earnings grew faster (+23%), so each new dollar of sales is arriving more profitably. 2021's +298% earnings rebound off a collapsed base sits off the axis.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

Revenue per share: is your slice growing as fast as the company?

$8.38revenue per share, FY 2023

→Revenue per share reached $8.38 in 2023, compounding +12% a year - in line with AVGO's own +13%, so the share count is not distorting your slice. Free cash flow per share stands at $4.13.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

Free cash flow: what is left in real cash after everything?

$17.6B+8% YoYFY 2023

→Free cash flow was $17.6B in 2023, compounding +21% a year since 2017. That is the most cash the business has ever thrown off in a year. The trailing twelve months stand at $32.8B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

Where does each dollar of revenue actually go?

→Of $35.8B in 2023 sales, $14.1B reaches net profit - 39 cents on the dollar. The largest single deduction is producing the product ($11.1B).

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

How much of every sales dollar ends up as free cash?

→49 cents of every sales dollar became free cash in 2023, and it has held steady since 2021 - the best conversion in its filed history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is research and development, at 15% of revenue (stock compensation 6%, capital spending 1%). That share has fallen since 2017, so the cost of competing is easing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin widened 14 points to 45% since 2021. After everything, 39 cents of each sales dollar reaches net profit.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

What does it earn on the money it uses?

→ROE of 33% sits well above ROCE of 10%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

What has the market paid for AVGO over time?

52.2xP/E today

→At 52.2x earnings, the market is paying +96% more than AVGO's own 4-year median of 26.6x. Expectations are elevated, so more has to go right to justify the price. Today's multiple is the highest in the charted history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

What cash return does the business throw off per dollar of market value?

1.9%FCF yield today

→Every dollar of market value currently buys 1.9% of annual free cash flow, less than its 5-year median of 7.4% - you are paying up for the same cash.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

Could it handle its debt if things went wrong?

→Debt of $64.9B sits against $19.6B of cash, or 0.7x shareholders' equity. Earnings cover the interest bill 10 times over, so the debt is comfortably serviced.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

Is the company's own capital growing?

→The company's own capital grew from $70.3B in 2023 to $87.7B (+25%). The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

How much goes back, and how much leaks out as stock comp?

→Shareholders received $5.8B in buybacks and $7.6B in dividends in 2023. Stock compensation issued $2.2B of new shares in the same year, offsetting 16% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

How fast is your ownership being diluted - or concentrated?

→The share count grew 0.9% in 2023, averaging 0.5% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

Is the dividend cheque growing?

→The dividend per share reached $1.79 in 2023, compounding +29% a year since 2017.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

Can it afford the dividend?

→The dividend consumed 54% of profit and 43% of free cash flow in 2023. That leaves room to keep paying through a weak year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

Does AVGO earn more on its capital than that capital costs?

→AVGO earns 10.3% on the capital it employs, comfortably above the 10% most investors treat as the cost of capital. It was 4.6% in 2017, so the trend is up, and the pace is picking up.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

AVGO has issued or retired shares - did shareholders end up better off?

→AVGO issued +12% more shares from 2016 to 2023, but revenue per share still rose +143%. The dilution bought more growth than it cost existing holders.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03

BroadcomAVGO

Are the people running it buying or selling?

→Insiders bought $698,699 and sold $784M on the open market, a net sale of $783M. A further 7 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-05-03