Broadcom (AVGO)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $1.80T, Broadcom's free cash flow of $26.9B (fiscal 2025) would need to grow about 21% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Broadcom's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from AVGO's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Broadcom's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $27.4B | $33.2B | $35.8B | $51.6B | $63.9B |
| Net income | $6.4B | $11.2B | $14.1B | $5.9B | $23.1B |
| Free cash flow | $13.3B | $16.3B | $17.6B | $19.4B | $26.9B |
| EPS (diluted) | $1.50 | $2.65 | $3.30 | $1.23 | $4.77 |
| Operating margin | 31.0% | 42.8% | 45.2% | 26.1% | 39.9% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own AVGO
From each investor's latest 13F filing (what a 13F shows). 16 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Hersh Cohen ClearBridge Investments |
Trimmed | $2.8B | 2.3% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $2.5B | 0.88% | Q2 2026 |
| Philippe Laffont Coatue Management |
Added | $2.2B | 4.5% | Q2 2026 |
| Chase Coleman Tiger Global Management |
Trimmed | $663M | 2.8% | Q2 2026 |
| Tom Steyer Farallon Capital Management LLC |
Trimmed | $435M | 2.0% | Q2 2026 |
| PRIMECAP Management PRIMECAP Management Co |
Trimmed | $278M | 0.16% | Q2 2026 |
| Ron Baron Baron Capital (BAMCO) |
Trimmed | $194M | 0.29% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Trimmed | $128M | 0.30% | Q2 2026 |
| David Tepper Appaloosa Management |
New position | $57M | 0.73% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Added | $28M | 0.25% | Q2 2026 |
| Steven Romick First Pacific Advisors |
Added | $24M | 0.30% | Q2 2026 |
| Eric Marshall Hodges Capital Management |
Added | $13M | 0.87% | Q2 2026 |
Insider buying
Open-market purchases by Broadcom's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 6, 2026 | Ro Khanna |
0 | $331.03 | — |
| Mar 6, 2026 | Ro Khanna |
0 | $331.03 | — |
| Feb 26, 2026 | David Taylor |
0 | $321.70 | — |
| Feb 26, 2026 | David Taylor |
0 | $321.70 | — |
| Feb 24, 2026 | Ro Khanna |
0 | $325.49 | — |
| Feb 24, 2026 | Ro Khanna |
0 | $325.49 | — |
| Feb 19, 2026 | Tony Wied |
0 | $333.99 | — |
| Feb 19, 2026 | Tony Wied |
0 | $333.99 | — |
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In the full deep dive
Questions
What growth does Broadcom's stock price imply?
At a market value of $1.80T, Broadcom would need its free cash flow to grow about 21% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 29% a year.
Are Broadcom insiders buying the stock?
8 open-market insider purchases of AVGO in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Broadcom?
16 of the superinvestors Investingly tracks hold AVGO in their latest 13F, including Hersh Cohen, Cliff Asness, Philippe Laffont.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.