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Qorvo, Inc. engages in development and commercialization of technologies and products for wireless, wired, and power markets in the United States, China, rest of Asia, Taiwan, and Europe. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for defense and aerospace, and 5G and 6G infrastructure markets. The CSG segment supplies connectivity and sensor solutions featuring various technologies, such as UWB, Matter, Bluetooth Low Energy, Zigbee, Thread, Wi-Fi, cellular IoT, and MEMS-based sensors. It serves smart home, industrial automation, automotive, smartphones, wearables, gaming, and industrial and enterprise access points markets. The ACG segment supplies cellular RF solutions for smartphones, wearables, laptops, tablets, and various other devices. It also offers foundry services for defense primes and other defense and aerospace customers. The company sells its products directly to original equipment manufacturers and original design manufacturers, as well as through a network of sales representative firms and distributors. Qorvo, Inc. was founded in 1957 and is headquartered in Greensboro, North Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2026
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2026 | $3.7B | $734M | $339M | $680M | 10.1% | -1.1% | 509.5% |
| 2025 | $3.7B | $441M | $56M | $485M | 1.6% | -1.3% | -179.1% |
| 2024 | $3.8B | $464M | $-70M | $706M | -2.0% | 5.6% | -168.2% |
| 2023 | $3.6B | $532M | $103M | $684M | 2.6% | - | - |
| 2022 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,569.40 | 3,769.51 | 3,718.97 | 3,678.52 |
| Operating Revenue | - | 3,569.40 | 3,769.51 | 3,718.97 | 3,678.52 |
| Cost Of Revenue | - | 2,272.46 | 2,281.01 | 2,183.38 | 1,990.42 |
| Gross Profit | - | 1,296.94 | 1,488.50 | 1,535.59 | 1,688.10 |
| Operating Expense | - | 1,101.36 | 1,175.38 | 1,247.49 | 1,194.31 |
| Research And Development | - | 649.84 | 682.25 | 747.71 | 726.12 |
| Selling General And Administration | - | 358.79 | 389.14 | 403.62 | 380.67 |
| Total Expenses | - | 3,373.82 | 3,456.39 | 3,430.88 | 3,184.72 |
| Operating Income | - | 195.58 | 313.12 | 288.10 | 493.79 |
| Total Operating Income As Reported | - | 183.17 | 91.70 | 95.53 | 411.42 |
| EBITDA | - | 531.94 | 463.74 | 441.06 | 733.80 |
| Normalized EBITDA | - | 544.35 | 685.15 | 633.63 | 816.16 |
| EBIT | - | 193.09 | 142.80 | 144.23 | 471.41 |
| Interest Expense | - | 68.46 | 69.24 | 78.33 | 73.13 |
| Net Interest Income | - | -68.46 | -69.24 | -78.33 | -73.13 |
| Other Non Operating Income Expenses | - | 9.92 | 51.10 | 48.70 | 59.98 |
| Other Income Expense | - | -2.49 | -170.31 | -143.87 | -22.39 |
| Interest Expense Non Operating | - | 68.46 | 69.24 | 78.33 | 73.13 |
| Net Non Operating Interest Income Expense | - | -68.46 | -69.24 | -78.33 | -73.13 |
| Pretax Income | - | 124.63 | 73.56 | 65.90 | 398.27 |
| Tax Provision | - | 21.48 | 143.88 | 10.28 | 59.28 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -2.13 | -46.50 | -30.05 | -12.27 |
| Net Income Continuous Operations | - | 103.15 | -70.32 | 55.62 | 338.99 |
| Net Income From Continuing And Discontinued Operation | - | 103.15 | -70.32 | 55.62 | 338.99 |
| Net Income From Continuing Operation Net Minority Interest | - | 103.15 | -70.32 | 55.62 | 338.99 |
| Net Income | - | 103.15 | -70.32 | 55.62 | 338.99 |
| Net Income Common Stockholders | - | 103.15 | -70.32 | 55.62 | 338.99 |
| Net Income Including Noncontrolling Interests | - | 103.15 | -70.32 | 55.62 | 338.99 |
| Normalized Income | - | 113.43 | 104.60 | 218.13 | 409.09 |
| Diluted NI Availto Com Stockholders | - | 103.15 | -70.32 | 55.62 | 338.99 |
| Basic Average Shares | - | 98.65 | 95.80 | 94.59 | 92.59 |
| Diluted Average Shares | - | 103.02 | 97.56 | 95.45 | 93.55 |
| Reconciled Depreciation | - | 338.85 | 320.93 | 296.84 | 262.39 |
| Reconciled Cost Of Revenue | - | 2,272.46 | 2,281.01 | 2,183.38 | 1,990.42 |
| Total Unusual Items | - | -12.41 | -221.41 | -192.57 | -82.37 |
| Total Unusual Items Excluding Goodwill | - | -12.41 | -221.41 | -192.57 | -82.37 |
| Special Income Charges | - | -12.41 | -221.41 | -192.57 | -82.37 |
| Impairment Of Capital Assets | - | 12.41 | 221.41 | 192.57 | 82.37 |
| General And Administrative Expense | - | 148.10 | 171.87 | 171.71 | 165.19 |
| Other Gand A | - | 148.10 | 171.87 | 171.71 | 165.19 |
| Other Operating Expenses | - | 92.73 | 103.99 | 96.16 | 87.51 |
| Selling And Marketing Expense | - | 210.69 | 217.27 | 231.91 | 215.48 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Qorvo, Inc.this co. | QRVO | $9.2B | 26.99 | 2.74 | 10.1% | 12.92 |
| Viasat, Inc. | VSAT | $10.0B | -292.20 | 2.14 | -0.7% | 8.33 |
| Enphase Energy, Inc. | ENPH | $9.0B | 52.36 | 8.29 | 15.8% | 33.63 |
| Vishay Intertechnology, Inc. | VSH | $8.7B | - | 4.15 | -0.4% | 31.93 |
| MaxLinear, Inc. | MXL | $8.4B | -61.72 | 18.67 |
| - |
| - |
| - |
| - |
| -30.2% |
| -97.97 |
| Plexus Corp. | PLXS | $7.6B | 44.01 | 5.23 | 11.9% | 26.92 |
| ESCO Technologies Inc. | ESE | $7.6B | 25.28 | 4.91 | 19.4% | 31.35 |
| Clear Secure, Inc. | YOU | $7.3B | 66.70 | 40.97 | 61.4% | 33.05 |
| Ralliant Corporation | RAL | $7.0B | -5.72 | 4.28 | -74.8% | -7.39 |
| Peer Median | - | 25.28 | 5.07 | 5.7% | 29.14 | |