QRVOQorvo, Inc.
Is the business good?
A genuinely good business: 8 of 9 health tests passed, earnings fully cash-backed (2.3×), and margins widening.
High fundamental quality. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
A balanced mix of margins, efficiency, and leverage. ROE 7% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
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.
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 7.5% · 12 months to Q4 2026
- Cash conversion
- 2.31×
Cash conversion · 7.72× a year ago · operating cash flow covers the operating profit after tax
- 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 is operating cash flow over operating profit after tax.