Is the business good?
How good a business is QRVO?
Qorvo, Inc. earns 8.8% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
8.8%
Return on invested capital · cost of capital 9.0% · 0.15 points below what the capital costs: growth destroys value
- Operating margin
- 11%
Operating margin · Semiconductors median 8.5% · 12 months to Q4 2026
- Cash conversion
- 2.00×
Cash conversion · every dollar of reported profit arrived as cash, and more
- R&D as % of revenue
- 20%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2021 | 23% |
| FY2022 | 26% |
| FY2023 | 5.1% |
| FY2024 | 2.4% |
| FY2025 | 2.6% |
| FY2026 | 11% |
Details›
- Gross margin12 months to Q4 2026
- 46%
- Operating margin12 months to Q4 2026
- 11%
- Net margin12 months to Q4 2026
- 9.2%
- Free cash flow margin
- 18%
- R&D as % of revenue
- 20%
- Revenue, trailing twelve months
- $3.68B
- Free cash flow, trailing twelve months
- $680M
- Net income, trailing twelve months
- $339M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 8.8%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.