Qorvo, Inc.

10-K & 10-Q Filings

Qorvo is a global technology company that develops and commercializes solutions for wireless, wired, and power markets. Its business strategy includes organic growth and potential acquisitions to complement its existing capabilities and drive growth in new or existing markets. The company's three operating segments are High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). HPA focuses on RF and power solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets. CSG offers connectivity and sensor solutions for consumer, commercial, and industrial IoT applications, as well as UWB technology for secure home access and digital key sharing. ACG provides cellular RF solutions for smartphones, wearables, laptops, tablets, and other devices. Qorvo's website is qorvo.com and its ticker symbol is QRVO.

12 mos ending Mar 28, 201512 mos ending Apr 02, 201612 mos ending Apr 01, 201712 mos ending Mar 31, 201812 mos ending Mar 30, 201912 mos ending Mar 28, 202012 mos ending Apr 03, 202112 mos ending Apr 02, 202212 mos ending Apr 01, 20239 mos ending Dec 31, 20229 mos ending Dec 30, 2023CAGR %YoY %Revenue (+)
$1710.97
2610.73
3032.57
2973.54
3090.32
3239.14
4015.31
4645.71
3569.40
2936.70
2828.52
9.63%-3.68%Cost of Revenue (-)
$1021.66
1561.17
1897.06
1826.57
1895.14
1917.38
2131.74
2359.55
2272.46
1754.47
1721.88
10.51%-1.86%Gross Profit (+)
$689.31
1049.55
1135.51
1146.97
1195.18
1321.76
1883.57
2286.17
1296.94
1182.23
1106.64
8.22%-6.39%Selling, General & Administrative (-)
$249.89
534.10
545.59
527.75
476.07
343.57
367.24
349.72
358.79
275.84
296.03
4.63%7.32%Research & Development (-)
$257.49
448.76
470.84
445.10
450.48
484.41
570.39
623.64
649.84
486.20
502.37
12.27%3.32%Operating Expenses (-)
$566.84
1037.59
1047.45
1076.68
978.72
898.55
976.94
1060.10
1113.77
810.08
1044.91
8.81%28.99%Costs & Expenses (Total) (-)
$1588.50
2598.76
2944.51
2903.25
2873.86
2803.86
3108.68
3419.64
3386.23
2564.55
2766.80
9.92%7.89%Operating Income/Loss (+)
$122.47
11.97
88.06
70.28
216.47
423.22
906.63
1226.07
183.17
372.15
61.72
5.16%-83.41%Non-operating Income/Expense (+)
$0.20
8.49
-1.88
6.41
-80.71
20.20
-24.05
18.34
9.92
2.71
34.29
63.33%1163.30%Interest Expense (-)
$1.42
23.32
58.88
59.55
43.96
60.39
75.20
63.33
68.46
51.22
51.96
62.31%1.45%Earnings before Tax (+)
$121.24
-2.86
27.30
17.14
91.79
395.09
807.38
1181.08
124.63
323.64
44.05
0.35%-86.39%Tax Expense (-)
$-75.06
25.98
43.86
57.43
-41.33
60.76
73.77
147.73
21.48
82.07
117.10
42.68%Income/Loss (Continuing Operations) (+)
$196.30
-28.84
-16.56
-40.29
133.13
334.32
733.61
1033.35
103.15
241.57
-73.06
-7.73%-130.24%Net Income/Loss (+)
$196.30
-28.84
-16.56
-40.29
133.13
334.32
733.61
1033.35
103.15
241.57
-73.06
-7.73%-130.24%Net Income/Loss (Common) (+)
$196.30
-28.84
-16.56
-40.29
133.13
334.32
733.61
1033.35
103.15
241.57
-73.06
-7.73%-130.24%EPS (Basic)
$2.17
-0.20
-0.13
-0.32
1.07
2.86
6.43
-9.38
-1.01
2.34
-0.75
-132.05%EPS (Diluted)
$2.11
-0.20
-0.13
-0.32
1.05
2.80
6.32
-9.26
-1.00
2.33
-0.75
-132.19%Weighted Avg Shares (Basic)
90.48
141.94
127.12
126.95
124.53
117.01
114.03
110.20
102.21
103.04
97.91
1.54%-4.98%Weighted Avg Shares (Diluted)
93.21
141.94
127.12
126.95
127.36
119.29
116.02
111.55
103.02
103.81
97.91
1.26%-5.69%Cash
$299.81
425.88
545.46
926.04
711.03
714.94
1397.88
972.59
808.76
918.76
1071.99
13.21%16.68%Short-term Investments
$244.83
186.81
Receivables
$379.65
363.74
423.19
390.75
400.11
382.19
484.75
568.85
304.52
367.64
483.81
-2.72%31.60%Inventory
$346.90
427.55
430.45
472.29
511.79
517.20
507.79
755.75
796.60
857.28
726.69
10.95%-15.23%Prepaid Expenses (Current)
$52.17
63.85
36.23
23.91
25.77
37.87
41.57
49.84
46.68
46.10
39.58
-1.38%-14.16%Other Assets (Current)
$176.75
41.38
26.26
30.82
36.14
38.30
51.81
102.84
73.24
67.92
106.31
-10.43%56.51%Assets (Current)
$1500.11
1509.21
1461.61
1843.81
1684.84
1690.50
2483.80
2449.86
2029.79
2257.70
2428.37
3.85%7.56%Securities & Long-term Investments
$4.08
26.05
35.49
63.77
97.79
22.52
35.37
31.09
20.41
24.22
24.71
22.28%2.05%Property, Plant & Equipment (Net)
$883.37
1046.89
1391.93
1374.11
1366.51
1259.20
1266.03
1253.59
1149.81
1191.99
1039.44
3.35%-12.80%Accumulated Depreciation
$609.58
751.90
Goodwill & Intangibles
$4447.81
3948.21
3574.48
3034.23
2582.11
3423.17
3253.86
3450.42
3298.52
3337.52
3040.42
-3.67%-8.90%Other Assets
$57.01
66.46
58.81
65.61
76.78
165.30
182.40
324.11
193.38
264.79
166.44
16.50%-37.14%Assets (Non-current)
$5392.27
5087.61
5060.72
4537.71
4123.19
4870.18
4737.67
5059.21
4662.11
4818.52
4271.02
-1.80%-11.36%Assets (Total)
$6892.38
6596.82
6522.32
6381.52
5808.02
6560.68
7221.47
7509.07
6691.90
7076.22
6699.39
-0.37%-5.33%Accounts Payable
$314.34
343.25
386.83
380.38
393.82
464.75
568.93
568.10
433.16
464.12
610.44
4.09%31.52%Debt (Current)
$
6.89
5.09
479.96
Other Liabilities (Current)
$10.97
30.55
32.00
60.90
41.79
67.36
107.56
107.03
122.60
149.47
189.93
35.22%27.07%Liabilities (Current)
$325.31
373.80
418.83
441.28
435.61
539.00
681.58
675.13
555.76
613.59
1280.33
6.92%108.66%Debt (Non-current)
$
988.13
989.15
983.29
919.27
1567.23
1742.55
2047.10
2048.07
2047.74
1550.44
-24.29%Other Liabilities
$393.91
235.22
217.62
181.39
93.46
161.78
167.91
233.63
185.27
250.32
230.27
-9.00%-8.01%Liabilities (Non-current)
$393.91
1223.35
1206.77
1164.68
1012.73
1729.01
1910.46
2280.73
2233.35
2298.06
1780.71
24.22%-22.51%Liabilities (Total)
$719.22
1597.15
1625.60
1605.95
1448.35
2268.02
2592.05
2955.85
2789.11
2911.65
3061.04
18.46%5.13%Retained Earnings
$-410.96
-439.81
-456.37
-458.77
-321.15
355.04
512.14
84.50
315.99
-92.33
-129.22%AOCI
$-0.12
-3.13
-4.31
-2.75
-6.62
2.29
29.65
5.23
-3.17
-11.37
0.10
100.90%Shareholder's Equity
$6173.16
4999.67
4896.72
4775.56
4359.68
4292.66
4629.43
4553.22
3902.79
4164.57
3638.35
-5.57%-12.64%Liabilities & Equity
$6892.38
6596.82
6522.32
6381.52
5808.02
6560.68
7221.47
7509.07
6691.90
7076.22
6699.39
-0.37%-5.33%Net Income/Loss
$196.30
-28.84
-16.56
-40.29
133.13
334.32
733.61
1033.35
103.15
241.57
-73.06
-7.73%-130.24%Depreciation & Amortization
$217.84
675.08
706.29
716.08
663.15
468.93
456.10
361.42
338.85
254.61
239.15
5.68%-6.07%Increase/Decrease in Working Capital
$58.24
81.69
-20.90
-90.69
96.08
-92.25
21.66
1044.63
-323.56
-101.80
-57.27
43.74%Share-based Compensation
$64.94
139.50
88.80
68.20
71.58
75.98
89.32
83.51
105.58
86.91
99.25
6.26%14.20%Adjustments to Reconcile Net Income
$109.32
716.77
793.33
892.86
677.29
611.32
568.24
15.89
740.08
536.22
703.90
27.01%31.27%Net Cash (Operating)
$305.62
687.93
776.82
852.52
810.36
945.65
1301.85
1049.24
843.23
777.79
630.85
13.53%-18.89%Capital Expenditure
$-62.61
303.20
670.84
269.83
220.94
1110.15
234.03
1205.20
318.10
124.95
47.07
-62.33%Net Cash (Investing)
$-63.94
-278.71
-490.49
-277.41
-247.55
-1105.74
-218.66
-595.96
-153.41
-117.36
-23.29
80.15%Increase/Decrease in Debt
$-87.50
1000.13
-7.73
-145.33
659.00
118.76
104.07
-17.91
Increase/Decrease in Equity
$-4.84
-1261.72
-150.21
-164.41
-596.78
-464.93
-472.49
-2266.27
-1690.99
-690.90
-273.69
60.39%Interest Expenses
$0.93
2.16
71.17
70.21
64.85
54.45
81.23
59.39
66.11
70.40%Net Cash (Financing)
$-112.90
-282.85
-165.65
-196.85
-776.66
165.56
-401.92
-875.51
-853.35
-714.01
-327.85
54.08%Cash Taxes Paid
$34.59
34.94
52.66
41.48
69.45
55.51
53.24
125.32
105.79
15.00%Effect of Exchange Rate
$-0.87
-0.29
-1.10
2.36
-1.17
-1.23
1.43
-3.28
-0.33
-0.28
3.34
1292.86%Increase/Decrease in Cash
$127.92
126.07
119.58
380.62
-215.02
4.23
682.70
-425.50
-163.86
-53.86
283.04
625.49%Cash (Beginning)
$171.90
299.81
425.88
545.78
926.40
711.38
715.61
1398.31
972.80
972.80
808.94
24.19%-16.84%Cash (Ending)
$299.81
425.88
545.46
926.40
711.38
715.61
1398.31
972.80
808.94
918.94
1091.99
13.21%18.83%NOPAT
$198.29
-134.15
-81.76
-99.75
313.94
363.75
846.85
1095.97
27.69
277.77
-102.38
-21.81%-136.86%Gross Margin %
40.29%
40.20%
37.44%
38.57%
38.67%
40.81%
46.91%
49.21%
36.34%
40.26%
39.12%
Operating Margin %
7.16%
0.46%
2.90%
2.36%
7.00%
13.07%
22.58%
26.39%
5.13%
12.67%
2.18%
NOPAT Margin %
11.59%
-5.14%
-2.70%
-3.35%
10.16%
11.23%
21.09%
23.59%
0.78%
9.46%
-3.62%
Net Margin %
11.47%
-1.10%
-0.55%
-1.35%
4.31%
10.32%
18.27%
22.24%
2.89%
8.23%
-2.58%
Tax Rate %
-61.91%
1220.89%
192.84%
241.92%
-45.03%
14.05%
6.59%
10.61%
84.88%
25.36%
265.87%
ROA
2.88%
-2.03%
-1.25%
-1.56%
5.41%
5.54%
11.73%
14.60%
0.41%
3.93%
-1.53%
ROE
3.21%
-2.68%
-1.67%
-2.09%
7.20%
8.47%
18.29%
24.07%
0.71%
6.67%
-2.81%
ROIC
3.33%
-2.33%
-1.42%
-1.92%
6.57%
6.68%
15.88%
18.51%
0.51%
5.00%
-2.09%
Asset Turnover
0.25
0.40
0.46
0.47
0.53
0.49
0.56
0.62
0.53
0.42
0.42
Inventory Turnover
2.95
3.65
4.41
3.87
3.70
3.71
4.20
3.12
2.85
2.05
2.37
Equity Multiplier
1.12
1.32
1.33
1.34
1.33
1.53
1.56
1.65
1.71
1.70
1.84
Current Ratio
4.61
4.04
3.49
4.18
3.87
3.14
3.64
3.63
3.65
3.68
1.90
Quick Ratio
2.84
2.61
2.31
2.98
2.55
2.04
2.76
2.28
2.00
2.10
1.22
Debt/Equity Ratio
0.20
0.20
0.21
0.21
0.37
0.38
0.45
0.52
0.49
0.56
Interest Coverage Ratio
131.68
5.53
1.24
1.00
3.34
7.77
11.16
20.64
2.77
Working Capital/Sales
0.37
0.29
0.26
0.26
0.27
0.24
0.20
0.26
0.28
0.35
0.29
R&D/Sales
0.15
0.17
0.16
0.15
0.15
0.15
0.14
0.13
0.18
0.17
0.18
Total Payout
$93.27
263.75
221.38
242.35
806.97
-139.62
434.96
2221.59
1757.11
690.90
291.60
44.34%-57.79%Payout Ratio %
47.04%
196.61%
270.78%
242.96%
257.05%
-38.38%
51.36%
202.71%
6345.48%
248.73%
284.83%