Broadcom (AVGO) FY2023 results: revenue $35.8 billion, up 7.9% on the year
Broadcom Inc. (AVGO) reported revenue of $35.8 billion for fiscal 2023, the year ended 29 October 2023, up 7.9% on the year before. Net income was $14.1 billion, up 22.5%, and diluted earnings per share $3.30. The figures are the company's own, from the 10-K it filed with the SEC on 14 December 2023.
Revenue
$35.8 billion
+7.9% on the year
FY2016FY2023
Operating margin
45.2%
42.8% a year earlier
FY2016FY2023
Net income
$14.1 billion
+22.5% on the year
FY2016FY2023
Diluted EPS
$3.30
+24.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
18,085
16,736
13,764
+8.1%
Capital expenditure
452
424
443
+6.6%
Free cash flow
17,633
16,312
13,321
+8.1%
Free cash flow margin
49.2%
49.1%
48.5%
Cash from investing
-689
-667
-245
Cash from financing
-15,623
-15,816
-8,974
Depreciation and amortisation
3,749
n/a
n/a
Share-based compensation
2,171
1,533
1,704
+41.6%
Buybacks
5,824
7,000
0.0
-16.8%
Dividends paid
7,645
6,733
5,913
+13.5%
Dividend per share
$1.84
$1.64
$1.44
+12.2%
Diluted shares, weighted
4,270m
4,230m
4,290m
+0.9%
Shares outstanding at period end
4,140m
4,180m
4,130m
-1.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
23,988
22,709
24,962
+5.6%
Debt
39,229
39,515
39,665
-0.7%
Operating lease liabilities
359
389
460
-7.7%
Finance lease liabilities
4.0
22.0
39.0
-81.8%
Other liabilities
9,281
10,614
10,444
-12.6%
Total liabilities and equity
72,861
73,249
75,570
-0.5%
Fixed assets
2,154
2,223
2,348
-3.1%
Goodwill
43,653
43,614
43,450
+0.1%
Intangible assets
3,867
7,111
11,374
-45.6%
Cash and equivalents
14,189
12,416
12,163
+14.3%
Receivables
3,154
2,958
2,071
+6.6%
Inventory
1,898
1,925
1,297
-1.4%
Other assets
3,946
3,002
2,867
+31.4%
Total assets
72,861
73,249
75,570
-0.5%
10-K for the year ended 29 October 2023, filed 14 December 2023: the filing.