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$AVGO$291.53 ▼10.4%
Broadcom Inc.
WHAT THEY DO
Broadcom designs and sells semiconductors and infrastructure software. It makes networking and custom AI chips (custom accelerators, switches, optical components) plus virtualization, mainframe, security and infrastructure software, selling mainly to cloud providers, enterprises and telecom operators.
💎 CONVERGENCE PLAY — in 3 themes
Custom AI SiliconAI NetworkingInfrastructure Software
PRICE
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REVENUE MIX
Semiconductor Solutions60%
Infrastructure Software40%
COST
COGS24%
R&D14%
SG&A8%
Op Margin54%
FINANCIAL HEALTH
Reported through Aug 2, 2026
Figures are trailing twelve months (TTM) unless marked otherwise.
REVENUE
$89.1B
Growth
86%
QTR YOY
Gross M.
76%
P/E
37.2
EV/EBITDA
27.3
Net M.
43%
FCF M.
34%
D/E
0.8
LATEST QTR
Op M.
54%
PLUG INTO YOUR DCF
Historical growth
21.7%
Analyst 5y growth
—
Forward P/E
15.0
PEG ratio
0.30
Trailing EPS
$7.80
Forward EPS
$19.50
Multiple compressing
Forward P/E is lower than trailing — earnings are expected to grow into the price.
CAPEX & R&D — LAST 0 FISCAL YEARS (SEC FILINGS)
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TAM
SIZE
$600B by 2030
CAGR
12%
AI data-center silicon and networking is the fastest-growing slice of a semiconductor TAM heading toward $1T+ by 2030, with custom XPU accelerators and 800G/1.6T Ethernet switching the key battlegrounds. Broadcom's software franchise (VMware, mainframe, security) adds a large, sticky, high-margin recurring revenue pool.
RISK ASSESSMENT
HIGCustomer concentration: a handful of hyperscalers drive the custom AI chip business, so any capex pause or in-sourcing shift hits revenue hard.
MEDVMware pricing/licensing backlash could slow software growth and invite regulatory scrutiny.
LOWElevated leverage from acquisitions limits buyback flexibility if rates stay high.
🐂 BULL
Broadcom is the de facto merchant supplier of custom AI accelerators and AI Ethernet networking, with 76% gross margins and 86% YoY growth, giving it one of the best AI cash-flow profiles in semis.
🐻 BEAR
At 43x trailing earnings and 32x EV/EBITDA, the stock already prices years of hyperscaler AI capex, so any digestion phase or share loss to in-house silicon would compress the multiple sharply.
EARNINGS
EPS · Q3 2026
Beat ✓
REVENUE
Beat ✓
MANAGEMENT TONE
BearishBullish
🔗 IMPACT ON YOUR THESIS
Custom AI accelerator (XPU) ramp with hyperscalers
On Track→On Track
AI revenue guidance raised again on new XPU customer commitments.
VMware software monetization and margin mix
Watch→On Track
Software bookings and renewal pricing came in ahead of plan.
Valuation vs. AI capex cycle durability
Watch→Watch
Strong print but stock sold off on high expectations and rate-driven multiple compression.
AI-powered data, computed by TreasureX · May contain inaccuracies
⚠️
All values, scores, and figures here are computed from your own assumptions and public data, for educational purposes only. This is not investment advice — TreasureX does not recommend buying or selling any security. Results change with your inputs. Please do your own research and use your own judgement before making any investment decision.