Stock Analysis on Net
Stock Analysis on Net

Broadcom Inc. (NASDAQ:AVGO)

Price to FCFE (P/FCFE)

Microsoft Excel

Free Cash Flow to Equity (FCFE)

Broadcom Inc., FCFE calculation

US$ in millions

Microsoft Excel
12 months ended: Nov 3, 2024 Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Nov 1, 2020 Nov 3, 2019
Net income 5,895 14,082 11,495 6,736 2,960 2,724
Net noncash charges 18,704 5,646 6,895 7,155 8,008 7,157
Changes in assets and liabilities, net of acquisitions and disposals (4,637) (1,643) (1,654) (127) 1,093 (184)
Net cash provided by operating activities 19,962 18,085 16,736 13,764 12,061 9,697
Purchases of property, plant and equipment (548) (452) (424) (443) (463) (432)
Proceeds from long-term borrowings 39,954 — 1,935 9,904 27,802 28,793
Payments on debt obligations (19,608) (403) (2,361) (11,495) (18,814) (16,800)
Other borrowings, net — — — — (1,285) 1,241
Free cash flow to equity (FCFE) 39,760 17,230 15,886 11,730 19,301 22,499

Based on: 10-K (reporting date: 2024-11-03), 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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Broadcom Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Broadcom Inc. FCFE increased from 2022 to 2023 and from 2023 to 2024.

Price to FCFE Ratio, Current

Broadcom Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 4,687,356,156
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 39,760
FCFE per share 8.48
Current share price (P) 237.44
Valuation Ratio
P/FCFE 27.99
Benchmarks
P/FCFE, Competitors1
Advanced Micro Devices Inc. 175.83
Analog Devices Inc. 29.31
Applied Materials Inc. 19.34
Intel Corp. —
KLA Corp. 26.90
Lam Research Corp. 25.83
Micron Technology Inc. —
Monolithic Power Systems Inc. 52.58
NVIDIA Corp. 130.86
Qualcomm Inc. 17.67
Texas Instruments Inc. 45.60
P/FCFE, Sector
Semiconductors & Semiconductor Equipment 118.87
P/FCFE, Industry
Information Technology 52.48

Based on: 10-K (reporting date: 2024-11-03).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Broadcom Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Nov 3, 2024 Oct 29, 2023 Oct 30, 2022 Oct 31, 2021 Nov 1, 2020 Nov 3, 2019
No. shares of common stock outstanding1 4,687,356,156 4,681,405,690 4,178,861,400 4,128,739,680 4,067,131,180 3,977,922,890
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 39,760 17,230 15,886 11,730 19,301 22,499
FCFE per share3 8.48 3.68 3.80 2.84 4.75 5.66
Share price1, 4 220.79 110.65 55.59 63.50 43.46 31.90
Valuation Ratio
P/FCFE5 26.03 30.06 14.62 22.35 9.16 5.64
Benchmarks
P/FCFE, Competitors6
Advanced Micro Devices Inc. — 241.70 33.46 44.72 133.51 —
Analog Devices Inc. 29.30 22.28 24.14 34.67 33.98 37.52
Applied Materials Inc. 17.05 17.53 19.17 27.20 23.21 19.53
Intel Corp. — — — 14.25 8.57 16.55
KLA Corp. 25.11 26.78 9.01 28.05 19.15 9.84
Lam Research Corp. 25.89 18.67 24.95 34.58 16.89 6.14
Micron Technology Inc. — — 18.66 37.24 81.71 13.92
Monolithic Power Systems Inc. — 60.34 121.66 95.13 83.64 54.53
NVIDIA Corp. 65.45 151.07 54.83 35.22 44.24 30.15
Qualcomm Inc. 18.57 11.97 19.13 17.93 34.91 16.39
Texas Instruments Inc. — 37.61 23.88 21.87 24.10 18.77
P/FCFE, Sector
Semiconductors & Semiconductor Equipment — 47.70 29.30 25.10 17.84 14.18
P/FCFE, Industry
Information Technology — 33.30 26.87 27.27 23.30 18.62

Based on: 10-K (reporting date: 2024-11-03), 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).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 39,760,000,000 ÷ 4,687,356,156 = 8.48

4 Closing price as at the filing date of Broadcom Inc. Annual Report.

5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 220.79 ÷ 8.48 = 26.03

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Broadcom Inc. P/FCFE ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.