AVGOBroadcom
We are a global technology leader that designs, develops and supplies a broad range of semiconductor and semiconductor-based solutions and infrastructure software solutions. 10-K, Item 1
- Employees
- 33,000
- Headquarters
- Palo Alto, CA
- CEO
- Hock E. Tan
- Next results
- around Dec 10, 2026
The biggest changes in the 10-K filed 2025-12-18, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Net income
+292.3% Big change FY to 2025-11-02 vs 2024-11-03The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Operating margin
26.1% → 39.9% (+13.8 pts) Big change FY to 2025-11-02 vs 2024-11-03“Amortization of acquisition-related intangible assets recognized in operating expenses decreased $1,213 million, or 37%, in fiscal year 2025, compared to the prior fiscal year primarily due to full amortization of customer-related intangible assets from previous software acquisitions other than VMware.”
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“Restructuring and other charges recognized in operating expenses decreased $942 million, or 61%, in fiscal year 2025, compared to the prior fiscal year primarily due to lower employee termination costs associated with the integration of the VMware business.”
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Gross margin
63.0% → 67.8% (+4.7 pts) Big change FY to 2025-11-02 vs 2024-11-03The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Cash from operations
+37.9% Big change FY to 2025-11-02 vs 2024-11-03“The $7,575 million increase in cash provided by operations during fiscal year 2025 compared to fiscal year 2024 was primarily due to $17,231 million higher net income, offset in part by $5,973 million lower non-cash adjustments for deferred taxes and other non-cash taxes, as well as $3,863 million from changes in operating assets and liabilities.”
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Revenue
+23.9% Big change FY to 2025-11-02 vs 2024-11-03“Net revenue from our semiconductor solutions segment increased due to strong demand for our networking solutions, primarily custom AI accelerators and AI networking products.”
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“Net revenue from our infrastructure software segment increased primarily due to strong demand for our VCF product, including license revenue recognized on contracts where customers do not have the right to terminate and the transition to a subscription license model.”
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Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on AVGO in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/AVGO/export.csv") into a cell.