Qorvo, Inc. (QRVO) intrinsic value & 10-year financials
Qorvo, Inc. (QRVO) has a Graham intrinsic value of $120.24 per share. Over the last 10 fiscal years revenue grew 2.2% a year to $3.7B, with an average return on invested capital of 6.5%.
- Graham intrinsic value
- $120.24
- Revenue (FY2026)
- $3.7B
- Revenue growth (10-yr CAGR)
- 2.2%
- ROIC (10-yr avg)
- 6.5%
- Free cash flow (FY2026)
- $679.6M
QRVO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $3.7B | $339.0M | $3.62 | $679.6M | 11.2% | 9.1% |
| FY2025 | $3.7B | $55.6M | $0.58 | $484.6M | 2.6% | 1.9% |
| FY2024 | $3.8B | -$70.3M | -$0.72 | $706.0M | 2.4% | 0.9% |
| FY2023 | $3.6B | $103.2M | $1.00 | $684.3M | 5.1% | 2.8% |
| FY2022 | $4.6B | $1.0B | $9.26 | $835.8M | 26.4% | 20.2% |
| FY2021 | $4.0B | $733.6M | $6.32 | $1.1B | 22.6% | 16.2% |
| FY2020 | $3.2B | $334.3M | $2.80 | $781.5M | 13.1% | 7.3% |
| FY2019 | $3.1B | $133.1M | $1.05 | $589.4M | 7.0% | 4.6% |
| FY2018 | $3.0B | -$40.3M | -$0.32 | $582.7M | 2.4% | 0.7% |
| FY2017 | $3.0B | -$16.6M | -$0.13 | $224.1M | 2.9% | 0.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Qorvo, Inc. has demonstrated mature, steady growth, with revenue compounding at 2.2% annually over the past decade.
Qorvo, Inc. has historically struggled to out-earn its cost of capital, averaging just 6.5% ROIC.
Over the decade, Qorvo, Inc. shows that management has aggressively returned capital to shareholders by retiring 26.4% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Qorvo, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $120.24 per share.