Company profile
SEC EDGAR ↗- Industry
- Semiconductors & Related Devices
- Listed
- Nasdaq: AVGO
- Headquarters
- Palo Alto, CA
- Fiscal year end
- Nov 1
Financials
FY2025- Revenue
- $63.9B
- Net income
- $23.1B
- Total assets
- $171.1B
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2025 | $63.9B | $23.1B | $171.1B |
| FY2024 | $51.6B | $5.89B | $165.6B |
| FY2023 | $35.8B | $14.1B | $72.9B |
| FY2022 | $33.2B | $11.5B | $73.2B |
| FY2021 | $27.4B | $6.74B | $75.6B |
| FY2020 | $23.9B | $2.96B | $75.9B |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
Decisions on record
3 verified Decision Cases on Broadcom, and the casebook each one belongs to.
| Fork date | Decision type | What Broadcom chose | Where it stood | The story | Casebook |
|---|---|---|---|---|---|
| 2017 | Adjacency Expansion | Pursue Qualcomm takeover | A presidential executive order permanently blocked the deal on the recommendation of CFIUS (2018-03) | Read the story → | Adjacency Expansion Casebook → |
| 2022 | The Money Machine | Acquire and extract | sold VMware End-User Computing division to KKR for about $4 billion (2024-02) | Read the story → | The Money Machine Casebook → |
| 2023 | The Pricing Lens | Kill perpetual licenses | roughly half of VMware's midmarket base had let licenses lapse around the acquisition (2024) | Read the story → | The Pricing Lens Casebook → |
Videos on Broadcom
Run one of these yourself
The decisions Broadcom faced, as kits you can run.
Each pack takes one of these decisions and gives you the framework, a deck for the room, a model that resolves to one number, and the sourced cases behind it. $499, one-time.
Growth & PortfolioThe Adjacency ExpansionWhen does the business next door belong to you?See the pack →Business ModelThe Money MachineWhere does the money actually come from, and who sets the rate it comes in at?See the pack →Decision ForksThe Road Not TakenWhat did the decision you did not take actually cost?See the pack →
The analyses
The Adjacency Expansion · Growth & Portfolio
Buy Sticky Software, Cut R&D, Re-Price the Captives: Broadcom's Machine, Explained by a $117B Block
Broadcom's move from chips into enterprise software looks like reinvention. It isn't. It's a repeatable financial machine — buy a mature, sticky business, cut its R&D, re-price the customers who can't leave. The U.S. government once blocked the playbook mid-swing, on a $117 billion deal, and explained exactly why.
8 min
The Money Machine · Business Model
Broadcom's Machine: Buy the Monopoly, Cut to the Bone, Reprice the Captive Customers
Broadcom is read as a chipmaker that bought its way into software. It's something colder: a cash-extraction machine that acquires mission-critical monopolies, cuts to the bone, and reprices captive customers - delivering a record $31.9 billion in adjusted EBITDA in FY2024.
7 min
The Counterfactual · Decision Forks
CFIUS Killed Broadcom's $117 Billion Qualcomm Bid Over the Threat of a Smaller 5G Budget
In March 2018, a U.S. president killed a $117 billion deal before the merger agreement was even signed. The official story is national security. The real one: CFIUS decided that cutting Qualcomm's 5G R&D budget was itself a threat to America.
7 min
The Roll-Up · Business Model
Broadcom Bought VMware for $84.2 Billion, Then Raised Prices Up to Twelve-Fold
Broadcom paid ~$84.2 billion for VMware, then raised prices as much as twelve-fold and killed perpetual licenses. It's not a diversification play - it's a metered extraction engine, and the bill is now coming due.
8 min
Tools to try
- Ansoff move finderFramework: Ansoff Matrix
- Business model canvas builderFramework: Business Model Canvas
- Change readiness checkFramework: Kotter's 8-Step Change Model
- Five Forces scorerFramework: Porter's Five Forces
- SMART goal builderFramework: SMART Goals
- SWOT builderFramework: SWOT Analysis
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