Qorvo, Inc.QRVO
NasdaqGS•Technology•Semiconductors
Qorvo, Inc. engages in development and commercialization of technologies and products for wireless, wired, and power markets in the United States, China, rest of Asia, Taiwan, and Europe. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency, analog mixed signal, and power management solutions for defense and aerospace markets, as well as offers compound semiconductor foundry services, wafer processing, advanced packaging and heterogeneous integration solutions. The CSG segment supplies connectivity and sensor solutions featuring various technologies, such as UWB, Matter, Bluetooth Low Energy, Zigbee, Thread, Wi-Fi, and cellular solutions. It serves smart home, industrial automation, automotive, smartphones, wearables, gaming, and industrial and enterprise access points markets. The ACG segment supplies cellular solutions for smartphones, wearables, laptops, tablets, and various other devices. It also offers foundry services for defense primes and other defense and aerospace customers. The company sells its products directly to original equipment manufacturers and original design manufacturers, as well as through a network of sales representative firms and distributors. Qorvo, Inc. was founded in 1957 and is headquartered in Greensboro, North Carolina.
Qorvo, Inc. (QRVO) reported trailing twelve months revenue of $3.68B as of March 2026, a 1.1% decline year-over-year. Quarterly revenue reached $808.28M, reflecting a contraction in sales.
Qorvo, Inc. generated $338.99M in TTM net income, with quarterly EBITDA of $94.22M. The operating margin expanded from 3.2% to 3.9%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (3.9%) and net margin (3.7%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 3.6% a year ago, signaling stronger bottom-line efficiency.
QRVO trades at a P/E of 27.5x (in line with broad market averages) and a P/S of 2.5x. The price-to-book ratio of 2.8x reflects a moderate premium to book value.
The company generated $255.03M in free cash flow over the trailing twelve months, a 49.4% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $5.83B in total assets with $1.55B in long-term debt against $3.34B in stockholders equity for a debt-to-equity ratio of 0.5, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~6.5% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~10.5% — no sign of cost or pricing stress.
FCF covers net income by 15.5x on average — earnings are well-supported by cash generation.
D/E ratio is 0.5 — conservative capital structure with low financial risk.
Revenue declined in 5 of the last 7 quarters — persistent contraction signals a fundamental problem.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 3.6% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation