Stock Analysis on Net

Broadcom Inc. (NASDAQ:AVGO)

Cash Flow Statement 
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Broadcom Inc., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: May 4, 2025 Feb 2, 2025 Nov 3, 2024 Aug 4, 2024 May 5, 2024 Feb 4, 2024 Oct 29, 2023 Jul 30, 2023 Apr 30, 2023 Jan 29, 2023 Oct 30, 2022 Jul 31, 2022 May 1, 2022 Jan 30, 2022 Oct 31, 2021 Aug 1, 2021 May 2, 2021 Jan 31, 2021 Nov 1, 2020 Aug 2, 2020 May 3, 2020 Feb 2, 2020 Nov 3, 2019 Aug 4, 2019 May 5, 2019 Feb 3, 2019
Net income (loss) 4,965 5,503 4,324 (1,875) 2,121 1,325 3,524 3,303 3,481 3,774 3,359 3,074 2,590 2,472 1,989 1,876 1,493 1,378 1,324 688 563 385 847 715 691 471
Amortization of intangible and right-of-use assets 2,024 2,032 2,455 2,375 2,381 2,206 808 810 810 905 1,087 1,088 1,129 1,151 1,367 1,369 1,371 1,395 1,589 1,581 1,583 1,582 1,309 1,309 1,305 1,316
Depreciation 142 142 156 149 149 139 124 122 129 127 129 129 135 136 134 134 133 138 139 138 147 146 143 141 142 143
Share-based compensation 1,771 1,280 1,314 1,388 1,457 1,582 638 629 513 391 387 373 386 387 414 421 425 444 449 465 517 545 544 632 544 465
Deferred taxes and other non-cash taxes (571) (696) (868) 3,638 (511) (294) 639 (251) (316) (573) (89) (15) 70 (47) (436) (177) (149) (459) (436) (175) (72) (226) (235) (94) (379)
Loss on debt extinguishment 65 52 105 100 26 172 16 55 93 5 26 2
Non-cash interest expense 94 97 91 115 119 102 34 33 33 32 32 32 33 32 29 24 21 22 25 22 31 30 19 23 14 13
Other 40 41 138 136 92 38 27 21 (39) 31 27 110 15 (12) 12 34 (109) 3 (39) (2) 30 (29) (8) (33) 71
Trade accounts receivable, net (590) (539) 249 835 (513) 1,756 (231) 135 185 (276) (241) 375 (536) (468) 160 191 106 (247) 391 542 440 (392) 285 (60) 193 68
Inventory (109) (148) 134 (52) 82 (14) (56) 44 13 26 (87) (170) (147) (223) (137) (156) (52) 51 67 (128) (10) 40 217 (57) 40 50
Accounts payable (613) 241 (85) 373 (93) (74) 215 188 (114) (80) 304 (352) (31) 101 156 (58) 44 (230) (123) 233 117 (147) 244 30 (169)
Employee compensation and benefits 287 (908) 196 291 251 (660) 103 184 91 (657) 128 321 215 (528) 172 254 135 (375) 142 231 61 (217) 66 104 (6) (458)
Other current assets and current liabilities (55) 26 (1,410) (1,345) (386) (2,182) (694) (339) (165) 570 (388) (198) 287 521 (540) (227) 182 408 (131) (2) 118 346 (398) (354) (37) 506
Other long-term assets and long-term liabilities (830) (1,023) (1,142) (1,170) (569) 891 (303) (139) (179) (164) (69) (260) (28) (79) (89) (77) (70) (59) 23 184 (386) (223) (177) (37) (122) 35
Changes in assets and liabilities, net of acquisitions and disposals (1,910) (2,351) (2,058) (1,068) (1,228) (283) (966) 73 (169) (581) (353) (284) (240) (777) (333) 141 243 (178) 262 704 456 (329) (154) (160) 98 32
Adjustments to reconcile net income (loss) to net cash provided by operating activities 1,590 610 1,280 6,838 2,459 3,490 1,304 1,416 1,021 262 1,224 1,350 1,653 1,014 1,552 1,665 2,076 1,735 2,024 2,490 2,650 1,937 1,632 1,704 1,976 1,661
Net cash provided by operating activities 6,555 6,113 5,604 4,963 4,580 4,815 4,828 4,719 4,502 4,036 4,583 4,424 4,243 3,486 3,541 3,541 3,569 3,113 3,348 3,178 3,213 2,322 2,479 2,419 2,667 2,132
Acquisition of business, net of cash acquired (2) (560) (25,416) (36) (17) (7) (5) (234) (8) (2) (10,870) (6) (16,027)
Proceeds from sale of business 3,485 45 50 168 957
Purchases of property, plant and equipment (144) (100) (122) (172) (132) (122) (105) (122) (122) (103) (122) (116) (85) (101) (88) (115) (126) (114) (102) (105) (148) (108) (96) (112) (125) (99)
Purchases of investments (57) (105) (30) (73) (59) (13) (58) (91) (197) (200) (5)
Sales of investments 78 18 20 5 42 89 154 74 200 102 67 2 3
Other (10) 13 2 3 (15) (79) 12 1 1 1 9 (8) (9) 1 2 11 4 (9) 8 81 21 (24)
Net cash used in investing activities (133) (174) (132) 3,245 (706) (25,477) (124) (144) (318) (103) (128) 80 (310) (309) 50 (47) (126) (122) (100) (46) 24 (10,987) (88) (35) (106) (15,193)
Proceeds from long-term borrowings 749 2,986 4,969 4,975 30,010 1,935 9,904 7,953 4,468 15,381 10,897 17,896
Payments on debt obligations (8,090) (7,472) (9,202) (2,000) (934) (143) (260) (9) (2,097) (255) (762) (1,533) (9,200) (3,000) (6,825) (4,452) (4,537) (4,800) (12,000)
Proceeds from commercial paper, net (119) 3,980
Other borrowings, net (3,028) 1,025 718 (104) (230) 1,044 531
Payments of dividends (2,785) (2,774) (2,484) (2,452) (2,443) (2,435) (1,904) (1,901) (1,914) (1,926) (1,782) (1,736) (1,750) (1,764) (1,561) (1,556) (1,552) (1,543) (1,395) (1,386) (1,381) (1,372) (1,054) (1,057) (1,057) (1,067)
Repurchases of common stock, repurchase program (2,450) (7,176) (123) (1,707) (2,806) (1,188) (1,500) (2,776) (2,724) (433) (736) (830) (3,436)
Shares repurchased for tax withholdings on vesting of equity awards (1,766) (2,036) (1,204) (1,350) (1,548) (1,114) (454) (460) (614) (333) (274) (292) (514) (375) (266) (347) (461) (225) (185) (192) (219) (169) (154) (241) (500) (77)
Issuance of preferred stock, net 3,679
Issuance of common stock 118 126 64 59 63 54 59 1 57 7 71 35 102 46 91 37 59 11 121 62
Other (4) (46) (11) (36) (2) (14) (5) (5) (7) 5 (5) (4) (4) (4) (1) (11) (2) (28) (9) (50) (6) (4) 9 3 (1) (47)
Net cash provided by (used in) financing activities (6,257) (5,980) (6,076) (8,065) (5,929) 18,337 (2,570) (4,073) (5,278) (3,702) (2,016) (3,532) (5,147) (5,121) (2,533) (1,907) (3,477) (1,057) (4,487) (3,482) (474) 10,054 (2,798) (2,250) (2,326) 13,862
Net change in cash and cash equivalents 165 (41) (604) 143 (2,055) (2,325) 2,134 502 (1,094) 231 2,439 972 (1,214) (1,944) 1,058 1,587 (34) 1,934 (1,239) (350) 2,763 1,389 (407) 134 235 801

Based on: 10-Q (reporting date: 2025-05-04), 10-Q (reporting date: 2025-02-02), 10-K (reporting date: 2024-11-03), 10-Q (reporting date: 2024-08-04), 10-Q (reporting date: 2024-05-05), 10-Q (reporting date: 2024-02-04), 10-K (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-29), 10-K (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-Q (reporting date: 2022-01-30), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-Q (reporting date: 2020-02-02), 10-K (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-Q (reporting date: 2019-02-03).


The financial data reveals several notable trends and fluctuations over the examined periods. Net income exhibits a generally upward trajectory from early 2019 through early 2023, with a peak around the first quarter of 2024 before a significant drop in mid-2024, followed by recovery. This pattern suggests growth with occasional volatility.

Non-cash Expenses
Amortization of intangible and right-of-use assets decreases steadily over time, indicating potential amortization nearing completion or impairment. Depreciation remains relatively stable with minor fluctuations, suggesting consistent asset base usage. Share-based compensation shows a marked increase in recent quarters, especially from 2021 to 2024, which may affect overall expenses and cash flow.
Tax and Debt Related Items
Deferred taxes and other non-cash taxes fluctuate widely, with occasional significant negative values impacting reported earnings. Loss on debt extinguishment appears sporadically, with peaks correlating with periods of debt restructuring. Non-cash interest expense shows a gradual increase, highlighting growing interest obligations on outstanding debt.
Working Capital Components
Trade accounts receivable, inventory, and accounts payable display erratic patterns, reflecting dynamic working capital management. Inventory values oscillate between positive and negative changes, implying varying inventory build-up and reduction strategies. Accounts payable trends show inconsistencies, possibly associated with payment scheduling adjustments. Employee compensation and benefits in working capital present large negative swings, indicating timing differences in payroll-related obligations.
Operating Activities
Adjustments to reconcile net income to net cash from operating activities remain robust, supporting consistent cash generation. Net cash provided by operating activities steadily increases with some fluctuations, confirming strong operational cash flow despite variations in net income.
Investing Activities
Significant cash outflows are evident in acquisition of businesses, notably large outlays in 2019 and 2024, reflecting aggressive expansion or strategic acquisitions. Purchases of property, plant, and equipment are relatively stable, indicating ongoing capital expenditure for asset maintenance or growth. Proceeds from sales of business and investments occasionally supplement cash inflows but are generally modest.
Financing Activities
Proceeds from long-term borrowings spike intermittently, suggesting periodic debt raises, partly offset by substantial payments on debt obligations. Dividend payments increase over time, pointing to a growing commitment to shareholder returns. Share repurchases vary considerably, with sizable repurchase programs in certain years and reduced activity in others. The issuance of common stock is minimal and irregular, indicating limited equity financing.
Cash and Cash Equivalents
Net changes in cash and cash equivalents are volatile, reflecting the combined effects of operational strength, investing outflows (notably acquisitions), and financing variability. Despite fluctuations, there is a general trend of positive cash flow supplements in most periods with occasional declines tied to major cash uses.

Overall, the company demonstrates sustained operational performance and cash generation capacity, accompanied by strategic acquisition activity and active capital management through financing and investing decisions. The variations in working capital and non-cash items imply careful balance sheet management amidst expansion efforts. Increased share-based compensation and episodic debt restructuring costs warrant consideration for their effects on reported earnings and cash flows.