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)
Net Fixed Asset Turnover
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Total Asset Turnover
Equity Turnover

Broadcom Inc., long-term (investment) activity ratios

		Nov 3, 2024	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Nov 1, 2020	Nov 3, 2019
	Net fixed asset turnover
	Net fixed asset turnover (including operating lease, right-of-use asset)
	Total asset turnover
	Equity turnover

Based on: 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), 10-K (reporting date: 2019-11-03).

Net fixed asset turnover: The net fixed asset turnover ratio demonstrates a consistent upward trend over the observed periods, rising from 8.81 in November 2019 to 20.46 in November 2024. This indicates an increasing efficiency in using fixed assets to generate sales, with a marked acceleration after 2021.
Net fixed asset turnover (including operating lease, right-of-use asset): When incorporating operating leases and right-of-use assets, the turnover ratio also reflects improvement but at a less pronounced pace. The ratio increased from 8.81 in November 2019, peaked around 13.69 in October 2023, and slightly declined to 13.41 in November 2024. This suggests that while asset utilization improved, the effect of leased assets moderated the overall turnover efficiency compared to fixed assets alone.
Total asset turnover: Total asset turnover exhibited modest fluctuations. Starting at 0.33 in November 2019, it dipped slightly to 0.31 in November 2020, then rose steadily to peak at 0.49 by October 2023 before declining back to 0.31 in November 2024. This pattern indicates varying efficiency in utilizing all company assets to generate revenue, with a notable reduction in the most recent period.
Equity turnover: The equity turnover ratio showed growth from 0.91 in November 2019 to a high of 1.49 in October 2023, indicating an increasing rate of revenue generation per unit of shareholder equity. However, there was a significant decrease to 0.76 in November 2024, which may suggest a reduction in equity utilization efficiency or changes in equity structure or revenues in the latest period.

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Broadcom Inc., net fixed asset turnover calculation, comparison to benchmarks

		Nov 3, 2024	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Nov 1, 2020	Nov 3, 2019
	Selected Financial Data (US$ in millions)
	Net revenue
	Property, plant and equipment, net
	Long-term Activity Ratio
	Net fixed asset turnover¹
	Benchmarks
	Net Fixed Asset Turnover, Competitors²
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	Micron Technology Inc.
	NVIDIA Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	Net Fixed Asset Turnover, Sector
	Semiconductors & Semiconductor Equipment
	Net Fixed Asset Turnover, Industry
	Information Technology

Based on: 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), 10-K (reporting date: 2019-11-03).

¹ 2024 Calculation
Net fixed asset turnover = Net revenue ÷ Property, plant and equipment, net
= ÷ =

² Click competitor name to see calculations.

Net Revenue: The net revenue demonstrates a consistent upward trend over the analyzed periods. Starting from approximately $22.6 billion in 2019, it increased steadily each year, reaching about $35.8 billion in 2023. The most notable growth occurred in the final period, with revenue surging to approximately $51.6 billion in 2024, indicating a significant acceleration in sales or service income compared to prior years.
Property, Plant and Equipment, Net: The net value of property, plant, and equipment exhibits a gradual decline from 2019 through 2023, decreasing from $2.565 billion to around $2.154 billion over this timeframe. However, in 2024, the figure reversed course and increased to approximately $2.521 billion, suggesting a renewed investment or asset acquisition in the most recent period after years of reduction or depreciation exceeding new investments.
Net Fixed Asset Turnover: The net fixed asset turnover ratio shows a consistent and marked improvement throughout the years, rising from 8.81 in 2019 to 20.46 in 2024. This indicates an increasing efficiency in utilizing fixed assets to generate revenue. The ratio nearly doubled between 2022 and 2024, further underscoring enhanced asset productivity or operational efficiencies, likely driven by the significant increase in revenue alongside relatively stable net fixed assets in the final year.

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Broadcom Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

		Nov 3, 2024	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Nov 1, 2020	Nov 3, 2019
	Selected Financial Data (US$ in millions)
	Net revenue

	Property, plant and equipment, net
	ROU assets, operating leases (classified in Other long-term assets)
	Property, plant and equipment, net (including operating lease, right-of-use asset)
	Long-term Activity Ratio
	Net fixed asset turnover (including operating lease, right-of-use asset)¹
	Benchmarks
	Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors²
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	Micron Technology Inc.
	NVIDIA Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
	Semiconductors & Semiconductor Equipment
	Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
	Information Technology

Based on: 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), 10-K (reporting date: 2019-11-03).

¹ 2024 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)
= ÷ =

² Click competitor name to see calculations.

Net Revenue: The net revenue demonstrates a consistent upward trend over the analyzed periods. Starting at 22,597 million US dollars in late 2019, the figure increases gradually each year, reaching 35,819 million US dollars in late 2023. A significant jump is observed in the most recent period ending in November 2024, where net revenue rises sharply to 51,574 million US dollars. This indicates accelerated growth in the latest period compared to previous years.
Property, Plant, and Equipment, Net: The net value of property, plant, and equipment, including operating lease right-of-use assets, shows a fluctuating pattern. It begins at 2,565 million US dollars in 2019 and increases to a peak of 3,098 million in 2020. Subsequently, the value declines steadily to 2,617 million by 2023. However, in 2024, there is a notable recovery with an increase to 3,846 million US dollars, suggesting renewed investment or asset acquisition during this period.
Net Fixed Asset Turnover: This ratio, which measures net revenue generated per unit of fixed assets, exhibits variability over the years. The value started at 8.81 in 2019, declined to 7.71 in 2020, and then improved significantly, reaching 9.35 in 2021. From that point, the ratio shows a continued upward trajectory, peaking at 13.69 in 2023. A slight decrease to 13.41 is observed in 2024. Overall, the increasing trend indicates improved efficiency in utilizing fixed assets to generate revenue, despite minor fluctuations.

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Broadcom Inc., total asset turnover calculation, comparison to benchmarks

		Nov 3, 2024	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Nov 1, 2020	Nov 3, 2019
	Selected Financial Data (US$ in millions)
	Net revenue
	Total assets
	Long-term Activity Ratio
	Total asset turnover¹
	Benchmarks
	Total Asset Turnover, Competitors²
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	Micron Technology Inc.
	NVIDIA Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	Total Asset Turnover, Sector
	Semiconductors & Semiconductor Equipment
	Total Asset Turnover, Industry
	Information Technology

Based on: 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), 10-K (reporting date: 2019-11-03).

¹ 2024 Calculation
Total asset turnover = Net revenue ÷ Total assets
= ÷ =

² Click competitor name to see calculations.

Net revenue: The net revenue demonstrates a consistent upward trend from 2019 through 2024, increasing from $22,597 million in 2019 to $51,574 million in 2024. Notably, the growth accelerates significantly in 2024 compared to previous years, suggesting a strong expansion in sales or market demand during this period.
Total assets: Total assets generally increased from 2019 to 2021, rising from $67,493 million to $75,570 million, before experiencing a slight decline and stabilization around the $72,800 million mark in 2022 and 2023. However, 2024 shows a remarkable surge in total assets to $165,645 million, indicating substantial asset accumulation or acquisition activities during this year.
Total asset turnover: The total asset turnover ratio fluctuates over the observed period. It starts at 0.33 in 2019, dips slightly in 2020 to 0.31, then improves steadily, reaching a peak of 0.49 in 2023, reflecting better utilization of assets to generate revenue. The sharp increase indicates enhanced efficiency until 2023. However, in 2024, the ratio declines notably to 0.31, implying that despite the significant increase in net revenue, the asset base has grown disproportionately, reducing turnover efficiency.
Summary: The data reveals strong revenue growth accompanied by fluctuating asset utilization efficiency. The sharp rise in total assets and net revenue in 2024 suggests strategic investments or acquisitions substantially expanding the company’s asset base and revenue. However, the drop in asset turnover ratio in 2024 points to a relative decrease in asset productivity, which may warrant further analysis regarding asset deployment or changes in business operations.

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Broadcom Inc., equity turnover calculation, comparison to benchmarks

		Nov 3, 2024	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Nov 1, 2020	Nov 3, 2019
	Selected Financial Data (US$ in millions)
	Net revenue
	Stockholders’ equity
	Long-term Activity Ratio
	Equity turnover¹
	Benchmarks
	Equity Turnover, Competitors²
	Advanced Micro Devices Inc.
	Analog Devices Inc.
	Applied Materials Inc.
	Intel Corp.
	KLA Corp.
	Lam Research Corp.
	Micron Technology Inc.
	NVIDIA Corp.
	Qualcomm Inc.
	Texas Instruments Inc.
	Equity Turnover, Sector
	Semiconductors & Semiconductor Equipment
	Equity Turnover, Industry
	Information Technology

Based on: 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), 10-K (reporting date: 2019-11-03).

¹ 2024 Calculation
Equity turnover = Net revenue ÷ Stockholders’ equity
= ÷ =

² Click competitor name to see calculations.

Net Revenue: The net revenue demonstrates a consistent upward trend over the analyzed periods, increasing from 22,597 million US dollars in 2019 to 51,574 million US dollars in 2024. There is a particularly notable increase between 2023 and 2024, where revenue jumps significantly by approximately 43.9%. This suggests robust growth in sales or operational scale during the most recent year.
Stockholders’ Equity: Stockholders’ equity shows some fluctuation throughout the periods. It started at 24,941 million US dollars in 2019, experienced slight decreases and recoveries, ending with a marked rise to 67,678 million US dollars in 2024. The substantial increase in 2024 signifies a strong enhancement in the company’s net asset base, possibly due to retained earnings, capital infusion, or other equity transactions.
Equity Turnover Ratio: The equity turnover ratio, which measures the efficiency of equity utilization to generate revenue, reveals varied dynamics. It increased steadily from 0.91 in 2019 to a peak of 1.49 in 2023, indicating improving efficiency in earlier years. However, in 2024, the ratio decreased sharply to 0.76 despite the revenue increase. This decline suggests that the equity base grew at a faster rate than net revenue, reducing turnover efficiency.
Overall Trends and Insights: The data indicates a strong growth trajectory in net revenue, underscoring expanding business operations or market demand. Stockholders’ equity shows volatility but ends with a significant increase, highlighting financial strengthening or equity restructuring. The equity turnover ratio's decline in the latest period suggests that while net revenue is growing, the pace of equity growth is outstripping revenue generation, potentially signaling a need to evaluate capital deployment efficiency.

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Broadcom Inc. (NASDAQ:AVGO)

Analysis of Long-term (Investment) Activity Ratios

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Long-term Activity Ratios (Summary)

Net Fixed Asset Turnover

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Total Asset Turnover

Equity Turnover