Analysis of Reportable Segments
Broadcom Inc. operates in 2 segments: Semiconductor solutions and Infrastructure software.
Paying user area
Try for free
Broadcom Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2009
- Operating Profit Margin since 2009
- Return on Equity (ROE) since 2009
- Return on Assets (ROA) since 2009
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Broadcom Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Segment Profit Margin
Broadcom Inc., profit margin by reportable segment
| Nov 2, 2025 | Nov 3, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | |
|---|---|---|---|---|---|---|
| Semiconductor solutions | ||||||
| Infrastructure software |
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 profit margin data for the annual reportable segments indicates distinct trends across the two segments over the examined periods.
- Semiconductor Solutions
- The profit margin for this segment demonstrates a generally positive trend from November 2020 through October 2023, increasing steadily from 49.67% to 58.5%. A minor decline occurs in the following year to 55.69%, followed by a rebound to 57.6% in the latest period. This pattern suggests overall margin improvement with some short-term fluctuations, possibly reflecting cyclical factors or cost variations impacting profitability.
- Infrastructure Software
- This segment shows a more pronounced upward trajectory in profit margins, starting at 65.9% in November 2020 and steadily rising to 73.84% by October 2023. However, a notable drop to 65.08% occurs in November 2024, representing a significant deviation from prior growth. In the subsequent period, the margin recovers strongly to 76.82%, indicating resilience and an ability to restore profitability after temporary setbacks.
Overall, both segments exhibit improving profitability over the majority of the analyzed timeframe. The Semiconductor Solutions margins display a more moderate and stable increase with slight variability, while Infrastructure Software experiences higher volatility but achieves greater margin peaks. These trends could reflect differing market dynamics, cost structures, or competitive positioning within each segment.
Segment Profit Margin: Semiconductor solutions
Broadcom Inc.; Semiconductor solutions; segment profit margin calculation
| Nov 2, 2025 | Nov 3, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income | ||||||
| Net revenue | ||||||
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | ||||||
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
Segment profit margin = 100 × Operating income ÷ Net revenue
= 100 × ÷ =
The Semiconductor Solutions segment demonstrates a consistent upward trend in both net revenue and operating income over the analyzed periods. Net revenue increased steadily each year, rising from $17,267 million in 2020 to $36,858 million in 2025. This reflects a strong growth trajectory with notable acceleration in later years, particularly between 2024 and 2025.
Operating income has also shown robust growth, starting at $8,576 million in 2020 and reaching $21,232 million in 2025. The growth in operating income generally aligns with the increase in net revenue, though the magnitude of increase in operating income in the final period is especially pronounced. This suggests effective cost management and operational leverage as revenues scale.
Regarding segment profit margin, the percentage has improved from 49.67% in 2020 to a peak of 58.5% in 2023. While there is a slight decline to 55.69% in 2024, it recovers somewhat to 57.6% in 2025. Overall, the margins remain healthy and indicate increasing profitability and efficiency, despite minor fluctuations toward the later years.
- Net Revenue
- Consistently increased year-over-year, nearly doubling over five years, indicating strong demand or successful market expansion.
- Operating Income
- Showed strong growth with an especially significant jump in the last reported year, highlighting improved profitability and possible operational efficiency gains.
- Segment Profit Margin
- Improved significantly from below 50% to near 60%, reflecting enhanced earnings quality and cost control, despite a modest dip in 2024.
In summary, the Semiconductor Solutions segment exhibits positive financial health with sustained revenue growth, rising operating income, and strong profit margins. The data suggests effective management strategy leading to improved profitability and scalability over time.
Segment Profit Margin: Infrastructure software
Broadcom Inc.; Infrastructure software; segment profit margin calculation
| Nov 2, 2025 | Nov 3, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income | ||||||
| Net revenue | ||||||
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | ||||||
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
Segment profit margin = 100 × Operating income ÷ Net revenue
= 100 × ÷ =
The annual financial data for the Infrastructure software segment reveals a generally positive trend in both net revenue and operating income over the examined periods. Net revenue demonstrated steady growth from the fiscal year ending in November 2020 through October 2023, with values increasing from 6,621 million US dollars to 7,637 million US dollars. An exceptional surge is observed in the subsequent years, with net revenue jumping significantly to 21,478 million US dollars in 2024 and further to 27,029 million US dollars in 2025.
Operating income follows a similar trajectory, increasing gradually from 4,363 million US dollars in 2020 to 5,639 million US dollars in 2023. Thereafter, the segment experienced a substantial rise in operating income, climbing sharply to 13,977 million US dollars in 2024 and 20,765 million US dollars in 2025, indicating a strong profitability improvement alongside the revenue growth.
The segment profit margin exhibits some variability while maintaining an overall positive trend. Initially, it increased steadily from 65.9% in 2020 to 73.84% in 2023, suggesting improved efficiency or cost structure within the segment. However, in 2024, the margin declined notably to 65.08%, despite the large increase in revenue and operating income, before rebounding significantly to 76.82% in 2025, reaching the highest margin recorded across the period.
- Net Revenue
- Shows consistent growth with an extraordinary increase starting in 2024, more than doubling prior levels.
- Operating Income
- Increases steadily up to 2023, followed by a dramatic rise in 2024 and 2025, indicating enhanced profitability and operational leverage.
- Segment Profit Margin
- Generally improving trend interrupted by a margin decrease in 2024, despite strong financial gains, but recovers to a peak margin in 2025.
Overall, the Infrastructure software segment displays robust financial performance with substantial growth in both revenues and operating income in the latest years, accompanied by generally high profit margins. The dip in profit margin in 2024 may warrant further analysis to understand the underlying factors, but the recovery in 2025 suggests effective management of costs or pricing power to enhance profitability.
Net revenue
Broadcom Inc., net revenue by reportable segment
US$ in millions
| Nov 2, 2025 | Nov 3, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | |
|---|---|---|---|---|---|---|
| Semiconductor solutions | ||||||
| Infrastructure software | ||||||
| Total |
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).
- Semiconductor Solutions Revenue
- The segment shows a consistent upward trend over the analyzed period. Starting at $17,267 million, revenue increased steadily each year, reaching $36,858 million by the final reported period. This growth reflects a compound increase, indicating strong performance and expanding demand within this segment.
- Infrastructure Software Revenue
- This segment exhibited moderate growth in the initial years, rising from $6,621 million to $7,637 million over the first four periods. However, in the subsequent years, there is a significant surge, with revenue nearly tripling from $7,637 million to $21,478 million and continuing to climb to $27,029 million. This sharp increase suggests either accelerated adoption of software solutions or possible expansion in this segment’s market footprint.
- Total Revenue
- Total net revenue derived from reportable segments follows a similar upward trajectory, starting at $23,888 million and reaching $63,887 million by the last period. The substantial jump between the fourth and fifth periods, from $35,819 million to $51,574 million, significantly exceeds the prior growth increments. This indicates that the recent growth in the Infrastructure Software segment played a major role in overall revenue expansion, complementing continued growth in Semiconductor Solutions.
- Summary Insight
- Overall, the company demonstrates robust revenue growth across both segments, with Semiconductor Solutions showing steady and consistent year-on-year increases, while Infrastructure Software experiences a notable acceleration in later periods. The total revenue growth is driven by both segments, but recent growth is disproportionately influenced by the rapid expansion of the Infrastructure Software segment. The data suggests strategic or market factors leading to a heightened emphasis on software solutions, boosting overall financial performance.
Operating income
Broadcom Inc., operating income by reportable segment
US$ in millions
| Nov 2, 2025 | Nov 3, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | |
|---|---|---|---|---|---|---|
| Semiconductor solutions | ||||||
| Infrastructure software | ||||||
| Unallocated expenses | ||||||
| Total |
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).
- Semiconductor Solutions Segment
- The segment exhibited a consistent upward trajectory in operating income over the reported periods. Beginning at $8,576 million, the operating income increased steadily each year, reaching $21,232 million in the most recent period. The growth was particularly pronounced between the periods ending in 2024 and 2025, indicating a significant expansion.
- Infrastructure Software Segment
- This segment also demonstrated positive growth throughout the years. Starting at $4,363 million, operating income saw moderate increases initially but experienced a substantial surge between the periods ending in 2023 and 2025, jumping from $5,639 million to $20,765 million. This large increase is indicative of either increased profitability, expansion, or both within this segment.
- Unallocated Expenses
- The unallocated expenses consistently reduced in magnitude, moving from a negative $8,925 million in 2020 to a lower negative value of $5,918 million by 2023. However, there was a sharp reversal in the two latest periods; expenses increased drastically to $17,273 million and then slightly decreased to $16,513 million by 2025. This volatility warrants further investigation as it impacts overall profit margins.
- Total Operating Income
- The total operating income followed a generally upward path, rising from $4,014 million in 2020 to a peak of $16,207 million in 2023. Nonetheless, a decline occurred in 2024, dropping to $13,463 million, before rebounding strongly to $25,484 million in 2025. The dip in 2024 may relate to the surge in unallocated expenses, which appears to negatively impact net operating income despite growth in core segments.
- Overall Insights
- The data indicates robust growth in both semiconductor solutions and infrastructure software segments, with especially rapid expansion in the latter segment in recent years. Unallocated expenses have introduced some volatility, affecting overall profitability. The strong recovery in total operating income in the latest period suggests effective management of expenses or exceptional performance in the core business areas.