Broadcom Company Profile
Filing-based Form 10-K metrics, trend charts, and company profile notes for Broadcom within the AI Infrastructure Economics module.
This company profile maps public filing metrics, operating context, and infrastructure exposure within CM Terminal’s personal analytical framework.
Company profile
Company Profile: Broadcom
Issuer-level Broadcom metrics for custom silicon, networking, and infrastructure software economics within the AI Infrastructure Economics project.
Built from Form 10-K filings using the CM Terminal Analytics methodology.
FY2024 highlights
Revenue
$51,574M
Gross Margin
63.03%
Operating Margin
26.10%
R&D Intensity
18.05%
CapEx Intensity
1.06%
Four-year view
| Fiscal Year | Period Ended | Revenue | Gross Margin | Operating Margin | R&D Intensity | CapEx Intensity | Dataset row |
|---|---|---|---|---|---|---|---|
| 2021 | 2021-10-31 | $27,450M | 61.36% | 31.03% | 17.68% | 1.61% | Filing row |
| 2022 | 2022-10-30 | $33,203M | 66.55% | 42.84% | 14.81% | 1.28% | Filing row |
| 2023 | 2023-10-29 | $35,819M | 68.93% | 45.25% | 14.67% | 1.26% | Filing row |
| 2024 | 2024-11-03 | $51,574M | 63.03% | 26.10% | 18.05% | 1.06% | Filing row |
Source: Broadcom Form 10-K filings.
Gross profit definition: Broadcom labels the gross profit amount as "Gross margin" in its Consolidated Statements of Operations; this page stores that dollar amount as grossProfit.
CapEx definition: Capital expenditure uses Broadcom cash flow statement line item "Purchases of property, plant and equipment."
Unit: All raw financial figures are stored in USD millions.
Fiscal-year note: Broadcom refers to fiscal years by the calendar year in which they end; FY2024 was a 53-week fiscal year.
Dataset note: The Dataset row column records the label attached to each filing-backed row in the project dataset. Definitions appear in Analytics Methodology & Data Policy.
Broadcom Revenue Trend
Fiscal-year revenue from Broadcom Form 10-K figures.
Source: issuer filings; methodology documented separately.
Source: Broadcom Form 10-K filings. Amounts stored in USD millions.
Broadcom Margin Trend
Gross margin and operating margin from Broadcom Form 10-K figures.
Source: issuer filings; methodology documented separately.
Source: Broadcom Form 10-K filings. Ratios calculated from stored USD millions figures.
Broadcom Reinvestment Intensity Trend
R&D intensity and CapEx intensity calculated from Broadcom Form 10-K figures.
Source: issuer filings; methodology documented separately.
Source: Broadcom Form 10-K filings. Ratios calculated from stored USD millions figures.
R&D intensity = R&D expense / revenue. CapEx intensity = capital expenditure / revenue.
What the filing data suggests
What Broadcom contributes to the AI Infrastructure Economics comparison as a hybrid custom silicon, networking, and infrastructure software profile.
Main analytical tension
Custom silicon AI exposure vs software/consolidation distortion
Broadcom is useful because it connects custom silicon, networking, and infrastructure software, but its consolidated metrics are less clean than pure compute or manufacturing profiles. VMware and software mix effects make issuer-level interpretation more complicated.
Revenue step-up
Data basis
Revenue moved from $27,450M in FY2021 to $51,574M in FY2024.
Interpretation
Broadcom’s filing series points to a large revenue step-up by FY2024, with the latest fiscal year affected by the VMware acquisition and a 53-week fiscal year.
High gross margin profile
Data basis
Gross margin was 63.03% in FY2024.
Interpretation
Broadcom’s gross margin remains high, reflecting a mix of semiconductor products and infrastructure software rather than a pure hardware manufacturing profile.
FY2024 operating margin compression
Data basis
Operating margin was 45.25% in FY2023 and 26.10% in FY2024.
Interpretation
Broadcom’s FY2024 operating margin declined despite higher revenue and high gross margin. This should not be read as simple operating deterioration because VMware-related acquisition effects, amortization, restructuring, and software expense structure changed the full-company cost base.
Low direct CapEx intensity
Data basis
CapEx intensity was 1.06% in FY2024.
Interpretation
Broadcom’s low direct CapEx intensity is closer to fabless compute companies than to manufacturing-heavy foundry economics, while its role in custom silicon and networking makes it a separate infrastructure profile.
This profile is descriptive issuer-level analysis. Methodology and non-advisory boundaries are documented in Analytics Methodology & Data Policy.
Analytical difficulty
What this profile can show
Broadcom can prove that AI custom silicon and AI networking activity are real parts of the infrastructure map.
What this profile cannot isolate
It is the least clean comparable profile at consolidated level. VMware, Infrastructure Software, acquisition accounting, unallocated expenses, non-AI semiconductor products, and customer concentration materially distort issuer-level interpretation. This profile cannot prove clean AI semiconductor economics from consolidated margins alone.
Main unresolved bridge
The unresolved bridge is separating AI XPUs and AI networking from VMware, infrastructure software, and acquisition-related accounting effects.
Reference
Source & Methodology
How the Broadcom profile data is sourced, stored, and interpreted.
Official sources
Primary inputs are Broadcom Form 10-K annual filings. Links below use the filing URLs stored in the project metadata; fiscal-year rows map to the filing set noted for each slice.
Used for FY2021
Used for FY2022, FY2023, FY2024
At least one row's filing note references cross-checking FY2022 against another Form 10-K in the chain; see the underlying source note text in the dataset for that fiscal year.
Source notes
Income statement data comes from Consolidated Statements of Operations. Broadcom labels the gross profit amount as "Gross margin"; this page stores that dollar amount as grossProfit. Capital expenditure uses the cash flow statement line item "Purchases of property, plant and equipment." Amounts are stored in USD millions—aligned with the recurring language in the filing notes, without restating row-level figures here.
Fiscal-year treatment
Broadcom uses a 52/53-week fiscal year and refers to fiscal years by the calendar year in which they end. FY2024 was a 53-week fiscal year; FY2021–FY2023 were 52-week fiscal years, as described in the filing notes.
The fiscalYear field uses Broadcom's reported fiscal-year label (for example FY2024).
When periodEnded is present on a row, it records the fiscal period end date for that fiscal year as stated in the filing trail for that row.
Metric construction
Raw metrics stored per fiscal year include revenue, grossProfit, operatingIncome, rdExpense, capitalExpenditure.
Derived metrics include revenueGrowth, grossMargin, operatingMargin, rdIntensity, capexIntensity. These ratios are calculated from the stored raw figures for the same row.
CapEx definition
Capital expenditure uses Broadcom's cash flow statement line item "Purchases of property, plant and equipment." Outflows are stored as positive magnitudes in this file for consistency with other issuers in the portfolio.
Dataset boundary
These rows are filing-based dataset records used for issuer-level analytics. Source rules, metric definitions, review terminology, and non-advisory boundaries are documented in Analytics Methodology & Data Policy.