Stock Analysis on Net

Broadcom Inc. (NASDAQ:AVGO)

$24.99

Adjusted Financial Ratios

Microsoft Excel

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Adjusted Financial Ratios (Summary)

Broadcom Inc., adjusted financial ratios

Microsoft Excel
Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Nov 1, 2020 Nov 3, 2019 Nov 4, 2018
Activity Ratio
Total Asset Turnover
Reported
Adjusted
Solvency Ratios
Debt to Equity
Reported
Adjusted
Debt to Capital
Reported
Adjusted
Financial Leverage
Reported
Adjusted
Profitability Ratios
Net Profit Margin
Reported
Adjusted
Return on Equity (ROE)
Reported
Adjusted
Return on Assets (ROA)
Reported
Adjusted

Based on: 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01), 10-K (reporting date: 2019-11-03), 10-K (reporting date: 2018-11-04).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Broadcom Inc. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Broadcom Inc. adjusted debt-to-equity ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Broadcom Inc. adjusted debt-to-capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.
Broadcom Inc. adjusted financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Broadcom Inc. adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Broadcom Inc. adjusted ROE improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Broadcom Inc. adjusted ROA improved from 2021 to 2022 and from 2022 to 2023.

Broadcom Inc., Financial Ratios: Reported vs. Adjusted


Adjusted Total Asset Turnover

Microsoft Excel
Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Nov 1, 2020 Nov 3, 2019 Nov 4, 2018
Reported
Selected Financial Data (US$ in millions)
Net revenue
Total assets
Activity Ratio
Total asset turnover1
Adjusted
Selected Financial Data (US$ in millions)
Net revenue
Adjusted total assets2
Activity Ratio
Adjusted total asset turnover3

Based on: 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01), 10-K (reporting date: 2019-11-03), 10-K (reporting date: 2018-11-04).

1 2023 Calculation
Total asset turnover = Net revenue ÷ Total assets
= ÷ =

2 Adjusted total assets. See details »

3 2023 Calculation
Adjusted total asset turnover = Net revenue ÷ Adjusted total assets
= ÷ =

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Broadcom Inc. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Debt to Equity

Microsoft Excel
Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Nov 1, 2020 Nov 3, 2019 Nov 4, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt
Stockholders’ equity
Solvency Ratio
Debt to equity1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2
Adjusted stockholders’ equity3
Solvency Ratio
Adjusted debt to equity4

Based on: 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01), 10-K (reporting date: 2019-11-03), 10-K (reporting date: 2018-11-04).

1 2023 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= ÷ =

2 Adjusted total debt. See details »

3 Adjusted stockholders’ equity. See details »

4 2023 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= ÷ =

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Broadcom Inc. adjusted debt-to-equity ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Adjusted Debt to Capital

Microsoft Excel
Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Nov 1, 2020 Nov 3, 2019 Nov 4, 2018
Reported
Selected Financial Data (US$ in millions)
Total debt
Total capital
Solvency Ratio
Debt to capital1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2
Adjusted total capital3
Solvency Ratio
Adjusted debt to capital4

Based on: 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01), 10-K (reporting date: 2019-11-03), 10-K (reporting date: 2018-11-04).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2023 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= ÷ =

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Broadcom Inc. adjusted debt-to-capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Adjusted Financial Leverage

Microsoft Excel
Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Nov 1, 2020 Nov 3, 2019 Nov 4, 2018
Reported
Selected Financial Data (US$ in millions)
Total assets
Stockholders’ equity
Solvency Ratio
Financial leverage1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2
Adjusted stockholders’ equity3
Solvency Ratio
Adjusted financial leverage4

Based on: 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01), 10-K (reporting date: 2019-11-03), 10-K (reporting date: 2018-11-04).

1 2023 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= ÷ =

2 Adjusted total assets. See details »

3 Adjusted stockholders’ equity. See details »

4 2023 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= ÷ =

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.
Broadcom Inc. adjusted financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Adjusted Net Profit Margin

Microsoft Excel
Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Nov 1, 2020 Nov 3, 2019 Nov 4, 2018
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Broadcom Inc. stockholders
Net revenue
Profitability Ratio
Net profit margin1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2
Net revenue
Profitability Ratio
Adjusted net profit margin3

Based on: 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01), 10-K (reporting date: 2019-11-03), 10-K (reporting date: 2018-11-04).

1 2023 Calculation
Net profit margin = 100 × Net income attributable to Broadcom Inc. stockholders ÷ Net revenue
= 100 × ÷ =

2 Adjusted net income. See details »

3 2023 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Net revenue
= 100 × ÷ =

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Broadcom Inc. adjusted net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Return on Equity (ROE)

Microsoft Excel
Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Nov 1, 2020 Nov 3, 2019 Nov 4, 2018
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Broadcom Inc. stockholders
Stockholders’ equity
Profitability Ratio
ROE1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2
Adjusted stockholders’ equity3
Profitability Ratio
Adjusted ROE4

Based on: 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01), 10-K (reporting date: 2019-11-03), 10-K (reporting date: 2018-11-04).

1 2023 Calculation
ROE = 100 × Net income attributable to Broadcom Inc. stockholders ÷ Stockholders’ equity
= 100 × ÷ =

2 Adjusted net income. See details »

3 Adjusted stockholders’ equity. See details »

4 2023 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted stockholders’ equity
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Broadcom Inc. adjusted ROE improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Return on Assets (ROA)

Microsoft Excel
Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Nov 1, 2020 Nov 3, 2019 Nov 4, 2018
Reported
Selected Financial Data (US$ in millions)
Net income attributable to Broadcom Inc. stockholders
Total assets
Profitability Ratio
ROA1
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2
Adjusted total assets3
Profitability Ratio
Adjusted ROA4

Based on: 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01), 10-K (reporting date: 2019-11-03), 10-K (reporting date: 2018-11-04).

1 2023 Calculation
ROA = 100 × Net income attributable to Broadcom Inc. stockholders ÷ Total assets
= 100 × ÷ =

2 Adjusted net income. See details »

3 Adjusted total assets. See details »

4 2023 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Broadcom Inc. adjusted ROA improved from 2021 to 2022 and from 2022 to 2023.