Recent News
July 23, 2025 — Qorvo announced QM35 SDK 3.0 availability for its QM35825 UWB platform, highlighting FiRa 3.0 features and developer tools. July 31, 2025 — The FiRa Consortium lists Qorvo’s QM35825 as FiRa‑certified (Core 3.0). August 26, 2025 — FiRa named Qorvo executives to leadership roles, including Vice‑Chair and multiple working‑group chairs, underscoring Qorvo’s ecosystem influence.
Technical Analysis
Directional indicators (ADX / DI+ / DI‑): ADX at 18.7 signals no strong trend; DI+ at 25.67 shows a peak‑and‑reversal, which constitutes bearish directional pressure, while DI‑ at 20.4 shows a dip‑and‑reversal that also reads bearish. Together, directional indicators imply limited trend strength with a bias toward short‑term downside.
MACD: MACD sits at 0.78 with the signal at 0.77, producing a marginal cross above the signal line that represents a brief bullish signal; the MACD trend shows a peak‑and‑reversal, which indicates bearish momentum despite the narrow MACD>signal condition. Expect momentum to favor sellers unless MACD resumes an upward trajectory.
MRO (Momentum/Regression Oscillator): MRO at ‑8.18 places price below the model target and therefore implies potential upside pressure; the MRO trend shows increasing values, which suggests that the gap below target has narrowed and that any upside potential may moderate as the oscillator climbs toward zero.
RSI: RSI at 56.01 with a peak‑and‑reversal reads bearish for near‑term momentum; the indicator sits short of overbought levels but the reversal signals loss of recent upside momentum.
Price vs Moving Averages and Bands: Last close $91.08 sits above the 200‑day average $78.64, indicating longer‑term strength, while sitting just below the 12‑day EMA $91.57 and slightly above the 20‑day average $90.62. The 12‑day EMA shows a peak‑and‑reversal, which favors short‑term weakness. Bollinger 1‑SD band runs roughly $87.10–$94.14, keeping price inside the bands. SuperTrend lower support at $88.30 offers a nearby technical floor; recent volume underperforms 10‑ and 50‑day averages, reducing conviction behind recent moves.
Fundamental Analysis
Revenue and margins: Total revenue $818,778,000. YoY revenue growth registers 1.02%; quarter‑over‑quarter growth reads 14.07%, indicating sequential acceleration. Gross margin 40.524%. Operating margin 3.675% up 99.08% YoY but down 9.24% QoQ; EBIT margin stands at 6.16% with quarter‑over‑quarter improvement of 52.24% and year‑over‑year change of 233.91%.
Profitability and earnings: EBIT $50.47M and EBITDA $117.93M. Net income $25.59M. EPS actual $0.92 versus estimate $0.63, a $0.29 beat and a 46.03% surprise. Return on equity registers 0.745%, a very low absolute level despite large reported YoY change metrics.
Cash, liquidity, and leverage: Cash and short‑term investments $1,165,478,000; operating cash flow $182,945,000; free cash flow $145,402,000, producing a free cash flow yield of 1.83% (below the industry peer mean of 2.18%). Current ratio 2.81 and quick ratio 2.01 indicate ample near‑term liquidity. Total debt $1,549,200,000 with net debt $383,722,000 and debt/EBITDA at 13.14x, which constitutes elevated leverage relative to operating cash generation; interest coverage about 2.69, which limits cushion for rising interest costs.
Valuation and market multiples: Trailing PE at 301.5x contrasts with forward PE of 51.0x; price‑to‑book at 2.31x sits below the industry peer mean of 3.68x and well within the industry peer range. Enterprise multiple 70.64x and price‑to‑sales about 9.71x reflect a premium market pricing on near‑term revenue. WMDST values the stock as over‑valued based on elevated PE/enterprise multiples, modest free cash flow yield, and stretched debt metrics relative to earnings.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-07-29 |
| NEXT REPORT DATE: | 2025-10-27 |
| CASH FLOW | Begin Period Cash Flow | $ 1.0 B |
| Operating Cash Flow | $ 182.9 M | |
| Capital Expenditures | $ -37.54 M | |
| Change In Working Capital | $ 53.0 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 144.3 M | |
| End Period Cash Flow | $ 1.2 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 818.8 M | |
| Forward Revenue | $ 1.1 B | |
| COSTS | ||
| Cost Of Revenue | $ 487.0 M | |
| Depreciation | $ 39.5 M | |
| Depreciation and Amortization | $ 67.5 M | |
| Research and Development | $ 179.2 M | |
| Total Operating Expenses | $ 788.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 331.8 M | |
| EBITDA | $ 117.9 M | |
| EBIT | $ 50.5 M | |
| Operating Income | $ 30.1 M | |
| Interest Income | — | |
| Interest Expense | $ 18.8 M | |
| Net Interest Income | $ -18.79 M | |
| Income Before Tax | $ 31.7 M | |
| Tax Provision | $ 6.1 M | |
| Tax Rate | 19.2 % | |
| Net Income | $ 25.6 M | |
| Net Income From Continuing Operations | $ 25.6 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.63 | |
| EPS Actual | $ 0.92 | |
| EPS Difference | $ 0.29 | |
| EPS Surprise | 46.032 % | |
| Forward EPS | $ 1.49 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 6.0 B | |
| Intangible Assets | $ 2.6 B | |
| Net Tangible Assets | $ 794.9 M | |
| Total Current Assets | $ 2.2 B | |
| Cash and Short-Term Investments | $ 1.2 B | |
| Cash | $ 1.2 B | |
| Net Receivables | $ 328.3 M | |
| Inventory | $ 638.0 M | |
| Long-Term Investments | $ 293.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 280.1 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 798.3 M | |
| Net Debt | $ 383.7 M | |
| Total Debt | $ 1.5 B | |
| Total Liabilities | $ 2.6 B | |
| EQUITY | ||
| Total Equity | $ 3.4 B | |
| Retained Earnings | $ -8.39 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 37.04 | |
| Shares Outstanding | 92.798 M | |
| Revenue Per-Share | $ 8.82 | |
| VALUATION | Market Capitalization | $ 7.9 B |
| Enterprise Value | $ 8.3 B | |
| Enterprise Multiple | 70.644 | |
| Enterprise Multiple QoQ | 8.725 % | |
| Enterprise Multiple YoY | -35.765 % | |
| Enterprise Multiple IPRWA | high: 453.366 QRVO: 70.644 mean: 65.163 median: 5.994 low: -88.112 |
|
| EV/R | 10.175 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.745 | |
| Asset To Liability | 2.342 | |
| Debt To Capital | 0.311 | |
| Debt To Assets | 0.258 | |
| Debt To Assets QoQ | -1.072 % | |
| Debt To Assets YoY | 304.368 % | |
| Debt To Assets IPRWA | high: 0.534 QRVO: 0.258 mean: 0.149 median: 0.131 low: 0.017 |
|
| Debt To Equity | 0.451 | |
| Debt To Equity QoQ | -1.303 % | |
| Debt To Equity YoY | 281.522 % | |
| Debt To Equity IPRWA | high: 1.831 QRVO: 0.451 mean: 0.266 median: 0.2 low: 0.019 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.312 | |
| Price To Book QoQ | 23.364 % | |
| Price To Book YoY | -25.675 % | |
| Price To Book IPRWA | high: 21.342 mean: 3.684 QRVO: 2.312 median: 1.272 low: 0.279 |
|
| Price To Earnings (P/E) | 301.502 | |
| Price To Earnings QoQ | 525.66 % | |
| Price To Earnings YoY | 129.664 % | |
| Price To Earnings IPRWA | high: 410.845 QRVO: 301.502 mean: 107.799 median: 83.659 low: -219.169 |
|
| PE/G Ratio | -3.723 | |
| Price To Sales (P/S) | 9.707 | |
| Price To Sales QoQ | 32.731 % | |
| Price To Sales YoY | -20.647 % | |
| Price To Sales IPRWA | high: 142.018 mean: 31.659 QRVO: 9.707 median: 6.29 low: 0.848 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 51.015 | |
| Forward PE/G | -0.63 | |
| Forward P/S | 7.187 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -7.436 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.137 | |
| Asset Turnover Ratio QoQ | -6.102 % | |
| Asset Turnover Ratio YoY | 0.638 % | |
| Asset Turnover Ratio IPRWA | high: 0.166 QRVO: 0.137 median: 0.132 mean: 0.124 low: 0.035 |
|
| Receivables Turnover | 2.29 | |
| Receivables Turnover Ratio QoQ | 7.278 % | |
| Receivables Turnover Ratio YoY | 8.165 % | |
| Receivables Turnover Ratio IPRWA | high: 4.742 QRVO: 2.29 mean: 2.149 median: 1.95 low: 0.87 |
|
| Inventory Turnover | 0.762 | |
| Inventory Turnover Ratio QoQ | -1.786 % | |
| Inventory Turnover Ratio YoY | -1.294 % | |
| Inventory Turnover Ratio IPRWA | high: 2.449 mean: 1.448 median: 1.293 QRVO: 0.762 low: 0.308 |
|
| Days Sales Outstanding (DSO) | 39.845 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 106.813 | |
| Cash Conversion Cycle Days QoQ | -1.295 % | |
| Cash Conversion Cycle Days YoY | -7.026 % | |
| Cash Conversion Cycle Days IPRWA | high: 283.049 QRVO: 106.813 mean: 84.041 median: 80.228 low: -76.281 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.565 | |
| CapEx To Revenue | -0.046 | |
| CapEx To Depreciation | -0.951 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 5.0 B | |
| Net Invested Capital | $ 5.0 B | |
| Invested Capital | $ 5.0 B | |
| Net Tangible Assets | $ 794.9 M | |
| Net Working Capital | $ 1.4 B | |
| LIQUIDITY | ||
| Cash Ratio | 1.46 | |
| Current Ratio | 2.814 | |
| Current Ratio QoQ | 1.677 % | |
| Current Ratio YoY | 43.932 % | |
| Current Ratio IPRWA | high: 8.232 QRVO: 2.814 mean: 2.605 median: 2.37 low: 0.308 |
|
| Quick Ratio | 2.015 | |
| Quick Ratio QoQ | 3.374 % | |
| Quick Ratio YoY | 48.387 % | |
| Quick Ratio IPRWA | high: 7.586 mean: 2.257 median: 2.15 QRVO: 2.015 low: 0.3 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 13.136 | |
| Cost Of Debt | 0.98 % | |
| Interest Coverage Ratio | 2.687 | |
| Interest Coverage Ratio QoQ | 52.495 % | |
| Interest Coverage Ratio YoY | 180.52 % | |
| Interest Coverage Ratio IPRWA | high: 173.095 median: 173.095 mean: 134.288 QRVO: 2.687 low: -75.833 |
|
| Operating Cash Flow Ratio | 0.218 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 49.061 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.085 % | |
| Revenue Growth | -5.831 % | |
| Revenue Growth QoQ | 14.065 % | |
| Revenue Growth YoY | 1.022 % | |
| Revenue Growth IPRWA | high: 12.112 % median: 11.265 % mean: 10.009 % low: 0.48 % QRVO: -5.831 % |
|
| Earnings Growth | -80.986 % | |
| Earnings Growth QoQ | 586.264 % | |
| Earnings Growth YoY | 116.482 % | |
| Earnings Growth IPRWA | high: 50.0 % median: 16.509 % mean: 9.926 % low: -50.0 % QRVO: -80.986 % |
|
| MARGINS | ||
| Gross Margin | 40.524 % | |
| Gross Margin QoQ | -3.878 % | |
| Gross Margin YoY | 8.127 % | |
| Gross Margin IPRWA | high: 97.151 % mean: 59.452 % median: 58.618 % QRVO: 40.524 % low: 16.066 % |
|
| EBIT Margin | 6.164 % | |
| EBIT Margin QoQ | 52.235 % | |
| EBIT Margin YoY | 233.911 % | |
| EBIT Margin IPRWA | high: 49.868 % median: 49.628 % mean: 45.294 % QRVO: 6.164 % low: -39.325 % |
|
| Return On Sales (ROS) | 3.675 % | |
| Return On Sales QoQ | -9.237 % | |
| Return On Sales YoY | 99.079 % | |
| Return On Sales IPRWA | high: 49.868 % median: 49.628 % mean: 45.333 % QRVO: 3.675 % low: -39.167 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 145.4 M | |
| Free Cash Flow Yield | 1.83 % | |
| Free Cash Flow Yield QoQ | -31.818 % | |
| Free Cash Flow Yield YoY | 363.291 % | |
| Free Cash Flow Yield IPRWA | high: 3.363 % median: 3.363 % mean: 2.178 % QRVO: 1.83 % low: -4.451 % |
|
| Free Cash Growth | -14.805 % | |
| Free Cash Growth QoQ | 368.068 % | |
| Free Cash Growth YoY | -80.191 % | |
| Free Cash Growth IPRWA | high: 137.827 % mean: 4.681 % QRVO: -14.805 % median: -32.467 % low: -108.755 % |
|
| Free Cash To Net Income | 5.681 | |
| Cash Flow Margin | 21.243 % | |
| Cash Flow To Earnings | 6.796 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.429 % | |
| Return On Assets QoQ | -18.596 % | |
| Return On Assets YoY | — | |
| Return On Assets IPRWA | high: 5.633 % median: 5.633 % mean: 4.788 % QRVO: 0.429 % low: -8.819 % |
|
| Return On Capital Employed (ROCE) | 0.971 % | |
| Return On Equity (ROE) | 0.007 | |
| Return On Equity QoQ | -19.459 % | |
| Return On Equity YoY | 6108.333 % | |
| Return On Equity IPRWA | high: 0.086 median: 0.086 mean: 0.077 QRVO: 0.007 low: -0.126 |
|
| DuPont ROE | 0.75 % | |
| Return On Invested Capital (ROIC) | 0.818 % | |
| Return On Invested Capital QoQ | 45.293 % | |
| Return On Invested Capital YoY | -142.405 % | |
| Return On Invested Capital IPRWA | high: 8.03 % median: 8.03 % mean: 6.742 % QRVO: 0.818 % low: -8.784 % |
|