Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Broadcom Inc., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2025-11-02), 10-K (reporting date: 2024-11-03), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01).
The analysis of the financial ratios over the periods reveals several notable trends regarding asset utilization and efficiency.
- Net Fixed Asset Turnover
- This ratio exhibits a consistent and significant upward trend, increasing from 9.52 in 2020 to 25.25 in the latest period of 2025. This indicates improved efficiency in generating sales from net fixed assets, suggesting better use of property, plant, and equipment over time.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- This adjusted ratio also shows a rising trend from 7.71 in 2020 to 16.6 in 2025, despite a slight decline between 2023 and 2024. The steady increase generally reflects enhanced productivity of fixed assets when accounting for leased assets. The temporary drop in 2024 may warrant further investigation into lease-related assets or operational changes during that period.
- Total Asset Turnover
- The total asset turnover ratio increases from 0.31 in 2020 to a peak of 0.49 in 2023, indicating improving overall asset efficiency in generating revenue. However, there is a decline thereafter to 0.31 in 2024, followed by a moderate recovery to 0.37 in 2025. This fluctuation could suggest variability in asset base management or shifts in revenue generation efficiency.
- Equity Turnover
- Equity turnover rises from 1.0 in 2020 to 1.49 in 2023, showing increased utilization of shareholders' equity to drive sales. However, a notable decline to 0.76 in 2024 is observed, with a marginal improvement to 0.79 in 2025. This decline implies reduced efficiency in employing equity, possibly due to changes in capital structure or decreased revenue relative to equity during those years.
Net Fixed Asset Turnover
Broadcom Inc., net fixed asset turnover calculation, comparison to benchmarks
| Nov 2, 2025 | Nov 3, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net revenue | 63,887) | 51,574) | 35,819) | 33,203) | 27,450) | 23,888) | |
| Property, plant and equipment, net | 2,530) | 2,521) | 2,154) | 2,223) | 2,348) | 2,509) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover1 | 25.25 | 20.46 | 16.63 | 14.94 | 11.69 | 9.52 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 14.31 | 14.27 | 15.60 | 23.41 | 15.23 | |
| Analog Devices Inc. | 3.32 | 2.76 | 3.82 | 5.00 | 3.70 | 5.00 | |
| Applied Materials Inc. | 6.15 | 8.14 | 9.37 | 11.18 | 11.93 | 10.72 | |
| Intel Corp. | — | 0.49 | 0.56 | 0.78 | 1.25 | 1.38 | |
| KLA Corp. | 9.70 | 8.84 | 10.17 | 10.84 | 10.44 | 11.17 | |
| Lam Research Corp. | 7.59 | 6.92 | 9.39 | 10.46 | 11.22 | 9.37 | |
| Micron Technology Inc. | 0.80 | 0.63 | 0.41 | 0.80 | 0.83 | 0.69 | |
| NVIDIA Corp. | 20.77 | 15.57 | 7.09 | 9.69 | 7.76 | 6.52 | |
| Qualcomm Inc. | 9.44 | 8.35 | 7.10 | 8.55 | 7.36 | 6.34 | |
| Texas Instruments Inc. | — | 1.38 | 1.75 | 2.91 | 3.57 | 4.42 | |
| Net Fixed Asset Turnover, Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 1.83 | 1.66 | 2.11 | 2.31 | 2.13 | |
| Net Fixed Asset Turnover, Industry | |||||||
| Information Technology | — | 3.48 | 3.79 | 4.45 | 4.75 | 4.57 | |
Based on: 10-K (reporting date: 2025-11-02), 10-K (reporting date: 2024-11-03), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01).
1 2025 Calculation
Net fixed asset turnover = Net revenue ÷ Property, plant and equipment, net
= 63,887 ÷ 2,530 = 25.25
2 Click competitor name to see calculations.
- Net Revenue
- The net revenue exhibits a consistent upward trajectory over the years analyzed. Starting from $23,888 million, it rises steadily to $63,887 million by the most recent period. The growth accelerates notably from the fiscal year ending in 2023 onward, with the revenue surging from $35,819 million to $63,887 million by 2025, indicating a robust expansion in the company’s sales or service income.
- Property, Plant, and Equipment (Net)
- The net value of property, plant, and equipment shows a generally declining trend from 2020 through 2023, falling from $2,509 million to $2,154 million. However, this trend reverses slightly in the last two years, with values increasing to $2,521 million in 2024 and stabilizing around $2,530 million in 2025. This suggests a period of asset reduction or depreciation followed by renewed investment or asset additions.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio indicates considerable improvement over the examined periods. Starting at 9.52 in 2020, it consistently increases each year, reaching 25.25 by 2025. This means the company is generating significantly more revenue per unit of fixed asset, implying enhanced efficiency or improved utilization of fixed assets. The increase aligns with the patterns seen in revenue growth coupled with relatively stable or declining fixed asset values in the earlier years.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Broadcom Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Nov 2, 2025 | Nov 3, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net revenue | 63,887) | 51,574) | 35,819) | 33,203) | 27,450) | 23,888) | |
| Property, plant and equipment, net | 2,530) | 2,521) | 2,154) | 2,223) | 2,348) | 2,509) | |
| ROU assets, operating leases (classified in Other long-term assets) | 1,318) | 1,325) | 463) | 517) | 588) | 589) | |
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 3,848) | 3,846) | 2,617) | 2,740) | 2,936) | 3,098) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 16.60 | 13.41 | 13.69 | 12.12 | 9.35 | 7.71 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 10.63 | 10.21 | 11.96 | 15.37 | 11.50 | |
| Analog Devices Inc. | 3.11 | 2.58 | 3.52 | 4.51 | 3.24 | 4.07 | |
| Applied Materials Inc. | 5.54 | 7.32 | 8.28 | 9.56 | 10.35 | 9.27 | |
| Intel Corp. | — | 0.49 | 0.56 | 0.78 | 1.24 | 1.36 | |
| KLA Corp. | 7.98 | 7.31 | 8.46 | 9.43 | 9.03 | 9.36 | |
| Lam Research Corp. | 6.79 | 6.05 | 8.30 | 9.19 | 9.90 | 8.06 | |
| Micron Technology Inc. | 0.79 | 0.62 | 0.40 | 0.78 | 0.82 | 0.68 | |
| NVIDIA Corp. | 16.16 | 11.58 | 5.57 | 7.46 | 5.84 | 4.76 | |
| Qualcomm Inc. | 8.16 | 7.24 | 6.34 | 7.62 | 6.62 | 5.64 | |
| Texas Instruments Inc. | — | 1.29 | 1.66 | 2.74 | 3.27 | 4.03 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 1.76 | 1.60 | 2.04 | 2.23 | 2.04 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
| Information Technology | — | 3.06 | 3.33 | 3.85 | 4.03 | 3.87 | |
Based on: 10-K (reporting date: 2025-11-02), 10-K (reporting date: 2024-11-03), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01).
1 2025 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net revenue ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 63,887 ÷ 3,848 = 16.60
2 Click competitor name to see calculations.
The financial data reveals a consistent upward trajectory in net revenue over the examined periods. Starting from US$23,888 million, net revenue grew steadily each year, reaching US$63,887 million by the last recorded date. This represents a significant increase, indicating strong sales performance and potential market expansion.
The net value of property, plant, and equipment (including operating lease and right-of-use assets) shows a declining trend initially, dropping from US$3,098 million to US$2,617 million over the first four periods. However, this trend reverses in the more recent periods with an increase to US$3,846 million and then slightly to US$3,848 million, suggesting renewed investment or asset acquisition after a phase of reduction or depreciation.
The net fixed asset turnover ratio exhibits a clear and marked improvement over the years. It rises from 7.71 in the earliest period to a peak of 16.6 in the final period. This ratio measures the efficiency in using fixed assets to generate revenue, and the increasing trend implies enhanced asset utilization, operational efficiency, or both. Notably, despite the recent upward adjustment in net fixed assets, the turnover ratio continues to improve, which may indicate that revenue growth outpaces asset base growth.
- Revenue Trend
- Consistent and strong growth in net revenue, more than doubling over the timeframe, reflecting positive business expansion.
- Asset Base Trend
- Initial decline in net fixed assets followed by a moderate increase in later periods, indicating changes in asset management strategy or capital expenditure cycles.
- Efficiency Ratio Trend
- Progressive improvement in net fixed asset turnover ratio, indicating better utilization of fixed assets to generate revenue, and overall operational efficiency.
In summary, the data portrays an organization experiencing significant growth in net revenue accompanied by improving asset efficiency. The changes in the asset base suggest strategic adjustments in capital investments, supporting sustained revenue expansion while optimizing asset usage.
Total Asset Turnover
Broadcom Inc., total asset turnover calculation, comparison to benchmarks
| Nov 2, 2025 | Nov 3, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net revenue | 63,887) | 51,574) | 35,819) | 33,203) | 27,450) | 23,888) | |
| Total assets | 171,092) | 165,645) | 72,861) | 73,249) | 75,570) | 75,933) | |
| Long-term Activity Ratio | |||||||
| Total asset turnover1 | 0.37 | 0.31 | 0.49 | 0.45 | 0.36 | 0.31 | |
| Benchmarks | |||||||
| Total Asset Turnover, Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 0.37 | 0.33 | 0.35 | 1.32 | 1.09 | |
| Analog Devices Inc. | 0.23 | 0.20 | 0.25 | 0.24 | 0.14 | 0.26 | |
| Applied Materials Inc. | 0.78 | 0.79 | 0.86 | 0.96 | 0.89 | 0.77 | |
| Intel Corp. | — | 0.27 | 0.28 | 0.35 | 0.47 | 0.51 | |
| KLA Corp. | 0.76 | 0.64 | 0.75 | 0.73 | 0.67 | 0.63 | |
| Lam Research Corp. | 0.86 | 0.80 | 0.93 | 1.00 | 0.92 | 0.69 | |
| Micron Technology Inc. | 0.45 | 0.36 | 0.24 | 0.46 | 0.47 | 0.40 | |
| NVIDIA Corp. | 1.17 | 0.93 | 0.65 | 0.61 | 0.58 | 0.63 | |
| Qualcomm Inc. | 0.88 | 0.71 | 0.70 | 0.90 | 0.81 | 0.66 | |
| Texas Instruments Inc. | — | 0.44 | 0.54 | 0.74 | 0.74 | 0.75 | |
| Total Asset Turnover, Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 0.43 | 0.43 | 0.50 | 0.53 | 0.51 | |
| Total Asset Turnover, Industry | |||||||
| Information Technology | — | 0.58 | 0.61 | 0.65 | 0.62 | 0.58 | |
Based on: 10-K (reporting date: 2025-11-02), 10-K (reporting date: 2024-11-03), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01).
1 2025 Calculation
Total asset turnover = Net revenue ÷ Total assets
= 63,887 ÷ 171,092 = 0.37
2 Click competitor name to see calculations.
- Net Revenue
- The net revenue has shown a consistent upward trend over the reported periods. Starting from approximately $23.9 billion, there was steady growth reaching about $35.8 billion by the end of the 2023 fiscal year. Notably, in the subsequent years, there is a significant acceleration in growth with revenues jumping to $51.6 billion and then $63.9 billion respectively, indicating strong expansion and enhanced sales performance towards the later periods.
- Total Assets
- Total assets remained relatively stable in the initial four years, fluctuating slightly around the $73 billion to $76 billion range. However, from the 2024 fiscal year onward, there is a marked increase, more than doubling to approximately $165.6 billion and then further increasing slightly to $171.1 billion by the latest period. This surge suggests substantial asset acquisition or revaluation, potentially reflecting expansion investments or strategic asset growth initiatives.
- Total Asset Turnover
- The total asset turnover ratio, which measures efficiency in generating revenue from assets, started at a low 0.31 and improved steadily to 0.49 by the 2023 fiscal year. This indicates enhanced operational efficiency and better utilization of assets during this time frame. However, in the last two reported years, the ratio declines significantly to 0.31 and then modestly recovers to 0.37. This decrease in asset turnover amidst a sharp increase in total assets implies that asset growth outpaced revenue generation efficiency during the most recent periods.
Equity Turnover
Broadcom Inc., equity turnover calculation, comparison to benchmarks
| Nov 2, 2025 | Nov 3, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net revenue | 63,887) | 51,574) | 35,819) | 33,203) | 27,450) | 23,888) | |
| Stockholders’ equity | 81,292) | 67,678) | 23,988) | 22,709) | 24,962) | 23,874) | |
| Long-term Activity Ratio | |||||||
| Equity turnover1 | 0.79 | 0.76 | 1.49 | 1.46 | 1.10 | 1.00 | |
| Benchmarks | |||||||
| Equity Turnover, Competitors2 | |||||||
| Advanced Micro Devices Inc. | — | 0.45 | 0.41 | 0.43 | 2.19 | 1.67 | |
| Analog Devices Inc. | 0.33 | 0.27 | 0.35 | 0.33 | 0.19 | 0.47 | |
| Applied Materials Inc. | 1.39 | 1.43 | 1.62 | 2.11 | 1.88 | 1.63 | |
| Intel Corp. | — | 0.53 | 0.51 | 0.62 | 0.83 | 0.96 | |
| KLA Corp. | 2.59 | 2.91 | 3.59 | 6.57 | 2.05 | 2.18 | |
| Lam Research Corp. | 1.87 | 1.75 | 2.12 | 2.74 | 2.43 | 1.94 | |
| Micron Technology Inc. | 0.69 | 0.56 | 0.35 | 0.62 | 0.63 | 0.55 | |
| NVIDIA Corp. | 1.65 | 1.42 | 1.22 | 1.01 | 0.99 | 0.89 | |
| Qualcomm Inc. | 2.09 | 1.48 | 1.66 | 2.45 | 3.37 | 3.87 | |
| Texas Instruments Inc. | — | 0.93 | 1.04 | 1.37 | 1.38 | 1.57 | |
| Equity Turnover, Sector | |||||||
| Semiconductors & Semiconductor Equipment | — | 0.79 | 0.78 | 0.89 | 1.00 | 1.06 | |
| Equity Turnover, Industry | |||||||
| Information Technology | — | 1.42 | 1.57 | 1.74 | 1.79 | 1.81 | |
Based on: 10-K (reporting date: 2025-11-02), 10-K (reporting date: 2024-11-03), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01).
1 2025 Calculation
Equity turnover = Net revenue ÷ Stockholders’ equity
= 63,887 ÷ 81,292 = 0.79
2 Click competitor name to see calculations.
- Net Revenue Trend
- The net revenue demonstrated a consistent upward trajectory over the analyzed periods. Starting at approximately 23.9 billion US dollars in 2020, revenue increased steadily each year, reaching nearly 63.9 billion US dollars by the end of 2025. The growth was particularly notable between 2023 and 2024, marking a significant jump from about 35.8 billion to 51.6 billion US dollars, indicating accelerated expansion or successful business initiatives during this interval.
- Stockholders’ Equity Dynamics
- Stockholders’ equity exhibited a fluctuating pattern initially, declining from roughly 23.9 billion US dollars in 2020 to 22.7 billion in 2022 before slightly recovering to around 24.0 billion in 2023. However, a substantial increase occurred from 2023 onwards, with equity reaching approximately 67.7 billion in 2024 and further rising to 81.3 billion in 2025. This sharp rise suggests possible capital injections, retained earnings accumulation, or revaluation of assets that significantly bolstered the equity base in the latter years.
- Equity Turnover Analysis
- Equity turnover, reflecting the efficiency in using equity to generate revenue, rose from 1.0 in 2020 to a peak of about 1.49 in 2023. This indicates improving efficiency in the early to mid-periods, where the company generated more sales per unit of equity. Post-2023, equity turnover dropped markedly to 0.76 in 2024 and marginally increased to 0.79 in 2025. This decline aligns with the substantial growth in stockholders’ equity, outpacing revenue growth and thereby reducing turnover ratio. The reduced turnover may warrant examination concerning asset utilization and capital efficiency in those later years.