Qorvo (QRVO) AI Stock Analysis

• Market Cap: $7.97B
• Dividend Yield: N/A
• Average Volume (3M): 1.14M
• Price to Earnings (P/E): 37.2
• Beta (1Y): 1.82
• Revenue Growth: -7.22%
• EPS Growth: N/A
• Country: US
• Employees: 6,200
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): 2.22
• Shares Outstanding: 92,405,540
• 10 Day Avg. Volume: 1,167,313
• 30 Day Avg. Volume: 1,138,602
• PEG Ratio: -0.67
• Price to Book (P/B): 1.99
• Price to Sales (P/S): 1.82
• P/FCF Ratio: 13.96
• Enterprise Value/Market Cap: 1.14
• Enterprise Value/Revenue: 2.48
• Enterprise Value/Gross Profit: 5.72
• Enterprise Value/Ebitda: 14.99
• 1Y Price Target: $100.75
• Price Target Upside: 16.81% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 17
• EPS Forecast (FY): 6.38
• Revenue Forecast (FY): $3.77B

• Rating: 71 Outperform
• Price Target: $99.00 ▲(14.78% Upside)

Qorvo's overall stock score reflects a combination of strong technical momentum and positive corporate developments, tempered by valuation concerns and mixed financial performance. The merger with Skyworks Solutions and strategic restructuring efforts are significant positives, while profitability and cash flow challenges remain areas for improvement.

Positive Factors

Merger with Skyworks Solutions

The merger with Skyworks Solutions is set to enhance Qorvo's scale and financial profile, achieving significant cost synergies and strengthening its market position, which is expected to be accretive to earnings and improve operational efficiencies.

Defense and Aerospace Growth

Strong growth in the defense and aerospace markets highlights Qorvo's ability to capitalize on increased defense spending, providing a stable revenue stream and enhancing its market position in these high-demand sectors.

Improved Gross Margin

Improving gross margins reflect Qorvo's successful efforts in optimizing product mix and manufacturing efficiencies, contributing to better profitability and financial health over the long term.

Negative Factors

Decline in Android Market

The significant decline in the Android market revenue poses a challenge for Qorvo, potentially affecting its growth prospects and necessitating strategic adjustments to offset this loss.

Challenges in China Market

Reduced sales to China-based OEMs highlight ongoing challenges in the Chinese market, which could impact Qorvo's revenue and require strategic realignment to mitigate regional risks.

Cash Flow Challenges

Negative free cash flow growth suggests potential liquidity issues, limiting Qorvo's ability to invest in growth opportunities and maintain financial flexibility, impacting long-term sustainability.

Qorvo Business Overview & Revenue Model

Company Description

Qorvo, Inc. develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers. The company's also provides SiC products, such as Schottky diodes and transistors for automotive, industrial, IT infrastructure and renewable energy markets; SoC hardware, firmware, and application software for smart home applications; power management solutions include programmable power management integrated circuits (ICs) and power application controllers; RF products and compound semiconductor foundry services to defense primes and other global defense and aerospace customers; RF connectivity and UWB SoC solutions for automotive connectivity; and Wi-Fi products, such as PAs, switches, LNAs and bulk acoustic wave filters, as well as integrated solutions including front end modules (FEMs) and integrated FEMs. It sells its products directly to original equipment manufacturers and original design manufacturers, as well as through a network of sales representative firms and distributors. The company was founded in 1957 and is headquartered in Greensboro, North Carolina.

How the Company Makes Money

Qorvo generates revenue primarily through the sale of its semiconductor products and solutions, which are used in a variety of applications such as mobile communications, automotive, and industrial markets. The company's revenue model is driven by the demand for advanced RF technologies, particularly in the context of the growing 5G infrastructure and the increasing proliferation of IoT devices. Key revenue streams include sales from mobile products, infrastructure and defense products, and advanced technology solutions. Qorvo also benefits from strategic partnerships with major technology firms and network operators, which enhance its market reach and product integration capabilities. Additionally, the company's investment in research and development enables it to innovate and maintain a competitive edge in the rapidly evolving semiconductor landscape.

Qorvo Financial Statement Overview

Summary

Qorvo's financial performance is mixed. Strong revenue growth is offset by compressed margins and cash flow challenges. The balance sheet is stable with manageable debt, but profitability needs improvement.

Income Statement

Qorvo's income statement shows a mixed performance. The TTM (Trailing-Twelve-Months) revenue growth rate is strong at 32.9%, indicating a recovery from previous declines. However, margins have compressed significantly compared to prior years, with the net profit margin at 5.95% and EBIT margin at 3.09%. This suggests challenges in maintaining profitability despite revenue growth.

Balance Sheet

The balance sheet reflects moderate financial stability. The debt-to-equity ratio has improved to 0.44, indicating a manageable level of leverage. Return on equity is modest at 6.35%, showing some profitability but room for improvement. The equity ratio stands at 57.6%, suggesting a solid equity base relative to assets.

Cash Flow

Cash flow analysis reveals some concerns. Free cash flow growth is negative at -8.97%, and the operating cash flow to net income ratio is 0.85, indicating less cash generation relative to net income. The free cash flow to net income ratio is 0.79, showing a reasonable conversion of earnings to cash but highlighting potential cash flow challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.66B	3.72B	3.77B	3.57B	4.65B	4.02B
Gross Profit	1.59B	1.54B	1.49B	1.30B	2.29B	1.88B
EBITDA	605.58M	441.06M	463.74M	531.94M	1.61B	1.34B
Net Income	217.83M	55.62M	-70.32M	103.15M	1.03B	733.61M
Balance Sheet
Total Assets	6.10B	5.93B	6.55B	6.69B	7.51B	7.22B
Cash, Cash Equivalents and Short-Term Investments	1.10B	1.02B	1.03B	808.76M	972.59M	1.40B
Total Debt	1.55B	1.55B	1.99B	2.05B	2.05B	1.75B
Total Liabilities	2.59B	2.54B	3.00B	2.79B	2.96B	2.59B
Stockholders Equity	3.51B	3.39B	3.56B	3.90B	4.55B	4.63B
Cash Flow
Free Cash Flow	534.51M	484.60M	705.96M	684.28M	835.78M	1.11B
Operating Cash Flow	680.21M	622.20M	833.19M	843.23M	1.05B	1.30B
Investing Cash Flow	22.55M	36.55M	-136.47M	-153.41M	-595.96M	-218.66M
Financing Cash Flow	-695.36M	-684.36M	-459.57M	-853.35M	-875.51M	-401.92M

Qorvo Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 86.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QRVO, the sentiment is Negative. The current price of 86.25 is below the 20-day moving average (MA) of 87.38, below the 50-day MA of 88.20, and above the 200-day MA of 82.40, indicating a neutral trend. The MACD of -0.31 indicates Positive momentum. The RSI at 46.55 is Neutral, neither overbought nor oversold. The STOCH value of 26.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QRVO.

Qorvo Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NVMI	81 Outperform	$10.19B	43.83	23.58%	―	39.37%	40.87%
RMBS	78 Outperform	$10.14B	44.70	19.66%	―	31.05%	30.35%
LSCC	71 Outperform	$10.47B	388.28	3.86%	―	-12.03%	-80.99%
QRVO	71 Outperform	$7.97B	37.25	6.30%	―	-7.22%	―
SWKS	70 Outperform	$9.59B	20.96	7.89%	4.37%	-2.18%	-16.84%
MTSI	64 Neutral	$13.21B	-217.50	-4.42%	―	32.58%	-173.04%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Qorvo Corporate Events

Qorvo Announces Retention Bonus Amid Skyworks Merger

On November 22, 2025, Qorvo, Inc. announced a retention bonus agreement for its Senior Vice President and Chief Financial Officer, Grant A. Brown, in light of the planned merger with Skyworks Solutions, Inc. The agreement includes a cash retention payment of $986,226, with 60% payable upon the merger’s completion and 40% six months thereafter, contingent on Mr. Brown’s continued employment. This move is aimed at ensuring leadership stability during the merger process.

Qorvo Announces Merger with Skyworks Solutions

On October 27, 2025, Qorvo, Inc. announced a merger agreement with Skyworks Solutions, Inc., creating a combined enterprise valued at approximately $22 billion. The merger aims to enhance scale and financial profile, with an expected revenue of $7.7 billion and adjusted EBITDA of $2.1 billion. The transaction will create a $5.1 billion mobile business and a $2.6 billion diversified Broad Markets platform. The merger is anticipated to be immediately accretive to non-GAAP EPS and achieve $500 million in annual cost synergies within 24-36 months post-close. The combined company will strengthen its domestic manufacturing position and improve factory utilization, with Phil Brace serving as CEO and Bob Bruggeworth joining the Board of Directors.