Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of Qorvo.
Income Statement
| Breakdown | March 30, 2024 | April 01, 2023 | April 02, 2022 | April 03, 2021 | March 28, 2020 | March 30, 2019 | March 31, 2018 | April 01, 2017 | April 02, 2016 | March 28, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.77B | $3.57B | $4.65B | $4.02B | $3.24B | $3.09B | $2.97B | $3.03B | $2.61B | $1.71B |
| Cost of Revenue | $2.28B | $2.27B | $2.36B | $2.13B | $1.92B | $1.90B | $1.83B | $1.90B | $1.56B | $1.02B |
| Gross Profit | $1.49B | $1.30B | $2.29B | $1.88B | $1.32B | $1.20B | $1.15B | $1.14B | $1.05B | $689.31M |
| Gross Profit Ratio | 39.49% | 36.34% | 49.21% | 46.91% | 40.81% | 38.67% | 38.57% | 37.44% | 40.20% | 40.29% |
| Research and Development Expenses | $682.25M | $649.84M | $623.64M | $570.39M | $484.41M | $450.48M | $445.10M | $470.84M | $448.76M | $257.49M |
| General and Administrative Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $113.63M | $85.23M |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $420.47M | $164.66M |
| Selling General and Administrative Expenses | $389.14M | $358.79M | $349.72M | $367.24M | $343.57M | $476.07M | $527.75M | $545.59M | $534.10M | $249.89M |
| Other Expenses | $325.40M | $105.14M | $86.75M | $39.31M | $70.56M | $52.16M | $103.83M | $-1.88M | $6.42M | $-1.23M |
| Operating Expenses | $1.41B | $1.11B | $1.06B | $976.94M | $898.55M | $978.72M | $1.08B | $1.05B | $1.04B | $566.84M |
| Cost and Expenses | $3.67B | $3.39B | $3.42B | $3.11B | $2.82B | $2.87B | $2.90B | $2.94B | $2.60B | $1.59B |
| Interest Income | $- | $21.10M | $60.63M | $75.20M | $12.07M | $10.97M | $7.02M | $1.21M | $2.07M | $450.00K |
| Interest Expense | $69.25M | $68.46M | $63.33M | $75.20M | $60.39M | $43.96M | $59.55M | $58.88M | $23.32M | $1.42M |
| Depreciation and Amortization | $320.93M | $338.85M | $361.42M | $456.10M | $468.93M | $663.10M | $714.22M | $704.58M | $674.95M | $216.99M |
| EBITDA | $463.74M | $531.94M | $1.61B | $1.34B | $924.41M | $798.85M | $790.91M | $790.76M | $695.40M | $339.65M |
| EBITDA Ratio | 12.30% | 14.90% | 34.57% | 33.34% | 28.54% | 25.85% | 26.60% | 26.08% | 26.64% | 19.85% |
| Operating Income | $91.70M | $183.17M | $883.00M | $426.47M | $-13.45M | $183.47M | $-637.52M | $88.06M | $11.97M | $122.47M |
| Operating Income Ratio | 2.43% | 5.13% | 19.01% | 10.62% | -0.42% | 5.94% | -21.44% | 2.90% | 0.46% | 7.16% |
| Total Other Income Expenses Net | $-18.14M | $-58.54M | $-44.98M | $-99.25M | $-28.13M | $-124.67M | $-53.14M | $-60.75M | $-14.83M | $-1.23M |
| Income Before Tax | $73.56M | $124.63M | $1.18B | $807.38M | $395.09M | $91.79M | $17.14M | $27.30M | $-2.86M | $121.24M |
| Income Before Tax Ratio | 1.95% | 3.49% | 25.42% | 20.11% | 12.20% | 2.97% | 0.58% | 0.90% | -0.11% | 7.09% |
| Income Tax Expense | $143.88M | $21.48M | $147.73M | $73.77M | $60.76M | $-41.33M | $57.43M | $43.86M | $25.98M | $-75.06M |
| Net Income | $-70.32M | $103.15M | $1.03B | $733.61M | $334.32M | $133.12M | $-40.29M | $-16.56M | $-28.84M | $196.30M |
| Net Income Ratio | -1.87% | 2.89% | 22.24% | 18.27% | 10.32% | 4.31% | -1.35% | -0.55% | -1.10% | 11.47% |
| EPS | $-0.72 | $1.01 | $9.38 | $6.43 | $2.86 | $1.07 | $-0.32 | $-0.13 | $-0.20 | $1.32 |
| EPS Diluted | $-0.72 | $1.00 | $9.26 | $6.32 | $2.80 | $1.05 | $-0.32 | $-0.13 | $-0.20 | $1.32 |
| Weighted Average Shares Outstanding | 97.56M | 102.21M | 110.20M | 114.03M | 117.01M | 124.53M | 126.32M | 126.46M | 141.94M | 149.06M |
| Weighted Average Shares Outstanding Diluted | 97.56M | 103.02M | 111.55M | 116.02M | 119.29M | 127.36M | 126.95M | 127.12M | 141.94M | 149.06M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | March 30, 2024 | April 01, 2023 | April 02, 2022 | April 03, 2021 | March 28, 2020 | March 30, 2019 | March 31, 2018 | April 01, 2017 | April 02, 2016 | March 28, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $1.03B | $808.76M | $972.59M | $1.40B | $714.94M | $711.03M | $926.04M | $545.46M | $425.88M | $299.81M |
| Short Term Investments | $- | $1.09M | $2.91M | $3.80M | $459.00K | $901.00K | $- | $- | $186.81M | $244.83M |
| Cash and Short Term Investments | $1.03B | $808.76M | $972.59M | $1.40B | $714.94M | $711.03M | $926.04M | $545.46M | $612.69M | $544.64M |
| Net Receivables | $427.39M | $331.05M | $601.00M | $488.25M | $387.59M | $378.17M | $345.96M | $357.95M | $363.74M | $353.83M |
| Inventory | $710.55M | $796.60M | $755.75M | $507.79M | $517.20M | $511.79M | $472.29M | $430.45M | $427.55M | $346.90M |
| Other Current Assets | $278.83M | $93.39M | $120.52M | $89.88M | $70.78M | $61.91M | $123.43M | $163.97M | $105.23M | $228.91M |
| Total Current Assets | $2.45B | $2.03B | $2.45B | $2.48B | $1.69B | $1.68B | $1.84B | $1.46B | $1.51B | $1.50B |
| Property Plant Equipment Net | $932.27M | $1.15B | $1.25B | $1.27B | $1.26B | $1.37B | $1.37B | $1.39B | $1.05B | $883.37M |
| Goodwill | $2.53B | $2.76B | $2.78B | $2.64B | $2.61B | $2.17B | $2.17B | $2.17B | $2.14B | $2.14B |
| Intangible Assets | $509.38M | $537.70M | $674.79M | $611.15M | $808.89M | $408.21M | $860.34M | $1.40B | $1.81B | $2.31B |
| Goodwill and Intangible Assets | $3.04B | $3.30B | $3.45B | $3.25B | $3.42B | $2.58B | $3.03B | $3.57B | $3.95B | $4.45B |
| Long Term Investments | $23.25M | $20.41M | $31.09M | $35.37M | $22.52M | $97.79M | $63.77M | $35.49M | $26.05M | $4.08M |
| Tax Assets | $- | $38.06M | $36.82M | $59.06M | $45.75M | $30.02M | $22.39M | $17.55M | $18.34M | $150.21M |
| Other Non-Current Assets | $109.09M | $155.32M | $287.29M | $123.35M | $119.54M | $46.77M | $43.22M | $41.27M | $48.12M | $-93.20M |
| Total Non-Current Assets | $4.11B | $4.66B | $5.06B | $4.74B | $4.87B | $4.12B | $4.54B | $5.06B | $5.09B | $5.39B |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $6.55B | $6.69B | $7.51B | $7.22B | $6.56B | $5.81B | $6.38B | $6.52B | $6.60B | $6.89B |
| Account Payables | $252.99M | $210.70M | $327.92M | $313.87M | $246.95M | $233.31M | $213.19M | $216.25M | $205.36M | $182.47M |
| Short Term Debt | $438.74M | $- | $17.39M | $5.09M | $6.89M | $80.00K | $- | $- | $- | $- |
| Tax Payables | $59.90M | $63.60M | $87.80M | $86.70M | $50.80M | $41.60M | $60.00M | $31.70M | $29.90M | $- |
| Deferred Revenue | $- | $-19.36M | $-17.39M | $249.97M | $210.91M | $-80.00K | $- | $- | $- | $- |
| Other Current Liabilities | $478.45M | $281.46M | $242.02M | $275.92M | $234.36M | $160.63M | $168.09M | $170.88M | $138.54M | $142.84M |
| Total Current Liabilities | $1.23B | $555.76M | $675.13M | $681.58M | $539.00M | $435.61M | $441.28M | $418.83M | $373.80M | $325.31M |
| Long Term Debt | $1.55B | $2.12B | $2.11B | $1.80B | $1.63B | $919.27M | $983.29M | $989.15M | $988.13M | $- |
| Deferred Revenue Non-Current | $- | $-14.65M | $- | $- | $-39.34M | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $14.65M | $- | $- | $39.34M | $333.00K | $63.08M | $131.51M | $152.16M | $310.19M |
| Other Non-Current Liabilities | $218.90M | $116.12M | $172.12M | $114.74M | $103.71M | $93.13M | $118.30M | $86.11M | $83.06M | $83.72M |
| Total Non-Current Liabilities | $1.77B | $2.23B | $2.28B | $1.91B | $1.73B | $1.01B | $1.16B | $1.21B | $1.22B | $393.91M |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $3.00B | $2.79B | $2.96B | $2.59B | $2.27B | $1.45B | $1.61B | $1.63B | $1.60B | $719.22M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $3.65B | $3.82B | $4.04B | $4.24B | $4.29B | $4.69B | $5.24B | $5.36B | $5.44B | $6.58B |
| Retained Earnings | $-89.60M | $84.50M | $512.14M | $355.04M | $- | $-321.15M | $-458.77M | $-456.37M | $-439.81M | $-410.96M |
| Accumulated Other Comprehensive Income Loss | $-5.10M | $-3.17M | $5.23M | $29.65M | $2.29M | $-6.62M | $-2.75M | $-4.31M | $-3.13M | $-124.00K |
| Other Total Stockholders Equity | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Stockholders Equity | $3.56B | $3.90B | $4.55B | $4.63B | $4.29B | $4.36B | $4.78B | $4.90B | $5.00B | $6.17B |
| Total Equity | $3.56B | $3.90B | $4.55B | $4.63B | $4.29B | $4.36B | $4.78B | $4.90B | $5.00B | $6.17B |
| Total Liabilities and Stockholders Equity | $6.55B | $6.69B | $7.51B | $7.22B | $6.56B | $5.81B | $6.38B | $6.52B | $6.60B | $6.89B |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $6.55B | $6.69B | $7.51B | $7.22B | $6.56B | $5.81B | $6.38B | $6.52B | $6.60B | $6.89B |
| Total Investments | $23.25M | $20.41M | $31.09M | $35.37M | $22.52M | $97.79M | $63.77M | $35.49M | $212.86M | $248.91M |
| Total Debt | $1.99B | $2.05B | $2.05B | $1.74B | $1.57B | $919.27M | $983.29M | $989.15M | $988.13M | $- |
| Net Debt | $958.75M | $1.24B | $1.07B | $344.67M | $852.29M | $208.24M | $57.25M | $443.69M | $562.25M | $-299.81M |
Cash Flow Statement
| Breakdown | March 30, 2024 | April 01, 2023 | April 02, 2022 | April 03, 2021 | March 28, 2020 | March 30, 2019 | March 31, 2018 | April 01, 2017 | April 02, 2016 | March 28, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-70.32M | $103.15M | $1.03B | $733.61M | $334.32M | $133.12M | $-40.29M | $-16.56M | $-28.84M | $196.30M |
| Depreciation and Amortization | $320.93M | $338.85M | $361.42M | $456.10M | $468.93M | $663.10M | $714.22M | $704.58M | $674.95M | $216.99M |
| Deferred Income Tax | $19.41M | $-66.14M | $31.88M | $-18.14M | $-11.10M | $-70.17M | $-32.25M | $-28.03M | $-12.19M | $-109.97M |
| Stock Based Compensation | $120.83M | $105.58M | $83.51M | $89.32M | $75.98M | $71.58M | $68.16M | $88.84M | $139.52M | $64.94M |
| Change in Working Capital | $142.40M | $96.98M | $-523.80M | $-21.66M | $92.25M | $-96.08M | $90.69M | $20.90M | $-81.69M | $-58.24M |
| Accounts Receivables | $-105.78M | $264.78M | $-107.90M | $-91.28M | $21.03M | $-32.12M | $12.91M | $-36.87M | $36.68M | $-30.37M |
| Inventory | $92.91M | $-81.45M | $-236.20M | $9.39M | $10.25M | $-39.59M | $-41.89M | $-6.44M | $-84.12M | $10.42M |
| Accounts Payables | $89.14M | $-115.50M | $33.95M | $34.20M | $15.43M | $15.17M | $38.95M | $-1.03M | $-461.00K | $-30.11M |
| Other Working Capital | $66.13M | $29.15M | $-213.66M | $26.02M | $45.54M | $-39.54M | $80.72M | $65.25M | $-33.80M | $-8.18M |
| Other Non Cash Items | $299.94M | $264.81M | $62.89M | $62.62M | $-14.73M | $108.81M | $51.99M | $7.09M | $-3.81M | $-4.40M |
| Net Cash Provided by Operating Activities | $833.19M | $843.23M | $1.05B | $1.30B | $945.65M | $810.36M | $852.52M | $776.82M | $687.93M | $305.62M |
| Investments in Property Plant and Equipment | $-127.23M | $-158.95M | $-213.47M | $-186.96M | $-164.10M | $-220.94M | $-269.83M | $-552.70M | $-315.62M | $-170.96M |
| Acquisitions Net | $-33.43M | $-95.00K | $-389.14M | $-47.07M | $-946.04M | $- | $- | $-118.13M | $853.00K | $225.82M |
| Purchases of Investments | $- | $- | $- | $- | $- | $-132.73M | $- | $-469.00K | $-365.53M | $-387.73M |
| Sales Maturities of Investments | $- | $- | $- | $- | $1.95M | $133.13M | $- | $186.79M | $401.58M | $261.48M |
| Other Investing Activities | $24.19M | $5.64M | $6.65M | $15.37M | $2.46M | $-27.02M | $-7.57M | $-5.98M | $853.00K | $7.45M |
| Net Cash Used for Investing Activities | $-136.47M | $-153.41M | $-595.96M | $-218.66M | $-1.11B | $-247.55M | $-277.41M | $-490.49M | $-278.71M | $-63.94M |
| Debt Repayment | $-58.31M | $- | $301.57M | $118.76M | $659.00M | $-145.33M | $-9.64M | $- | $1.00B | $-87.50M |
| Common Stock Issued | $36.92M | $32.51M | $38.30M | $42.60M | $50.20M | $41.29M | $57.41M | $59.15M | $51.88M | $46.07M |
| Common Stock Repurchased | $-400.05M | $-861.75M | $-1.15B | $-515.08M | $-515.13M | $-638.07M | $-219.91M | $-209.36M | $-1.30B | $-50.87M |
| Dividends Paid | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Financing Activities | $-38.13M | $-24.11M | $-63.10M | $-48.19M | $-28.51M | $-34.55M | $-24.71M | $-15.44M | $-34.72M | $-20.59M |
| Net Cash Used Provided by Financing Activities | $-459.57M | $-853.35M | $-875.51M | $-401.92M | $165.56M | $-776.66M | $-196.85M | $-165.65M | $-282.85M | $-112.90M |
| Effect of Forex Changes on Cash | $3.17M | $-331.00K | $-3.28M | $1.43M | $-1.23M | $-1.17M | $2.36M | $-1.10M | $-294.00K | $-868.00K |
| Net Change in Cash | $240.31M | $-163.86M | $-425.50M | $682.70M | $4.23M | $-215.02M | $380.62M | $119.58M | $126.07M | $127.92M |
| Cash at End of Period | $1.05B | $808.94M | $972.80M | $1.40B | $715.61M | $711.38M | $926.40M | $545.46M | $425.88M | $299.81M |
| Cash at Beginning of Period | $808.94M | $972.80M | $1.40B | $715.61M | $711.38M | $926.40M | $545.78M | $425.88M | $299.81M | $171.90M |
| Operating Cash Flow | $833.19M | $843.23M | $1.05B | $1.30B | $945.65M | $810.36M | $852.52M | $776.82M | $687.93M | $305.62M |
| Capital Expenditure | $-127.23M | $-158.95M | $-213.47M | $-186.96M | $-164.10M | $-220.94M | $-269.83M | $-552.70M | $-315.62M | $-170.96M |
| Free Cash Flow | $705.96M | $684.28M | $835.78M | $1.11B | $781.54M | $589.43M | $582.68M | $224.12M | $372.30M | $134.66M |