Qorvo (QRVO) AI Stock Analysis

• Market Cap: $8.56B
• Dividend Yield: N/A
• Average Volume (3M): 1.76M
• Price to Earnings (P/E): 107.8
• Beta (1Y): 1.67
• Revenue Growth: -8.84%
• EPS Growth: N/A
• Country: US
• Employees: 6,200
• Sector: Technology
• Sector Strength: 85
• Industry: Semiconductors
• EPS (TTM): 0.92
• Shares Outstanding: 92,654,270
• 10 Day Avg. Volume: 1,353,021
• 30 Day Avg. Volume: 1,756,891
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.96
• Enterprise Value/Revenue: 2.26
• Enterprise Value/Gross Profit: 5.28
• Enterprise Value/Ebitda: 27.41
• 1Y Price Target: $97.47
• Price Target Upside: 6.05% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 17

• Rating: 72 Outperform
• Price Target: $99.00 ▲(7.71% Upside)

Qorvo's overall stock score is driven by strong financial health and positive technical indicators, despite valuation concerns. The company's strategic initiatives and robust earnings call performance further support the score. However, challenges in revenue growth and high P/E ratio suggest caution.

Positive Factors

Defense and Aerospace

Defense/Aero remains a promising growth driver over the next few years as the design win pipeline grew to $7B.

Financial Performance

Qorvo delivered a strong beat and raise performance in its FY1Q26, handily exceeding both the consensus and its own guidance for revenue, gross margin, and EPS.

Strategic Management

Strategic portfolio management, such as shedding lower-margin businesses and factory consolidation initiatives, is driving significant gross margin expansion.

Negative Factors

China Android Market

Android business could decline $150-200M in FY26 and FY27 due to a decline in the Android mid-tier market.

High Performance Analog

While High Performance Analog (HPA) came in below expectations, Qorvo registered record revenue in Defense and Aerospace (D&A) as strength here was broad-based.

Tariff Impact

Management estimates <$1M direct tariff-related impact in the June quarter, with a potential high-single-digit-million per-quarter total impact beyond June in a theoretical worst-case scenario.

Qorvo Business Overview & Revenue Model

Company Description

Qorvo, Inc. (QRVO) is a leading provider of innovative RF solutions that enable wireless communications and connectivity across various sectors, including mobile devices, infrastructure, automotive, and the Internet of Things (IoT). The company designs, manufactures, and supplies a broad range of high-performance analog and digital semiconductor products, including power amplifiers, filters, and integrated circuits, which are essential for the operation of next-generation wireless technologies such as 5G.

How the Company Makes Money

Qorvo generates revenue primarily through the sale of its semiconductor products, which are used in smartphones, tablets, and other wireless devices. Key revenue streams include sales to original equipment manufacturers (OEMs) and telecommunications companies, as well as partnerships with major tech firms for the development of new technologies. The company's involvement in the burgeoning 5G market has significantly boosted its earnings potential, as demand for advanced RF solutions continues to grow. Additionally, Qorvo's diversification into sectors like automotive and IoT enhances its revenue base, allowing it to capitalize on emerging trends in connectivity and smart technologies.

Qorvo Financial Statement Overview

Summary

Qorvo exhibits solid financial health with strong cash flow generation and a stable balance sheet. Despite declining revenues and profitability pressures, the company maintains operational efficiency and effective cash management strategies. Moderate leverage and high equity ratios further bolster its financial stability. However, challenges in revenue growth and net profit margins suggest the need for strategies to reinvigorate sales and improve profitability.

Income Statement

Qorvo's income statement shows a decline in revenue over recent periods, with a TTM revenue of $3.65 billion compared to $4.65 billion in 2022. Gross profit margin stands at 42.8% and net profit margin at 2.2% in TTM, indicating a squeeze on profitability. The revenue growth rate has been negative, indicating challenges in maintaining sales levels. However, the company maintains a positive EBIT and EBITDA margin of 3.3% and 8.2% respectively, reflecting some operational efficiency amidst declining sales.

Balance Sheet

The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.45, indicating moderate leverage. Stockholders' equity of $3.44 billion against total assets of $5.99 billion gives an equity ratio of 57.3%, showcasing financial stability. Return on equity is relatively low at 2.4% in TTM, signaling modest profitability from shareholders' perspective. Overall, the company maintains a healthy balance sheet with manageable debt levels.

Cash Flow

Qorvo demonstrates strong cash flow management with a free cash flow of $587 million in TTM, showing growth compared to previous years. The operating cash flow to net income ratio is robust at 8.96, indicating strong cash conversion from earnings. Free cash flow to net income ratio also stands favorable at 7.27, highlighting efficient cash utilization despite fluctuating net income. The company has managed to sustain healthy cash flows amidst a challenging revenue environment.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.65B	3.72B	3.77B	3.57B	4.65B	4.02B
Gross Profit	1.56B	1.54B	1.51B	1.34B	2.29B	1.88B
EBITDA	300.86M	441.06M	463.74M	531.94M	1.61B	1.34B
Net Income	80.80M	55.62M	-70.32M	103.15M	1.03B	733.61M
Balance Sheet
Total Assets	6.00B	5.93B	6.55B	6.69B	7.51B	7.22B
Cash, Cash Equivalents and Short-Term Investments	1.17B	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	2.56B	2.54B	3.00B	2.79B	2.96B	2.59B
Stockholders Equity	3.44B	3.39B	3.56B	3.90B	4.55B	4.63B
Cash Flow
Free Cash Flow	587.15M	484.60M	705.96M	684.28M	835.78M	1.11B
Operating Cash Flow	724.06M	622.20M	833.19M	843.23M	1.05B	1.30B
Investing Cash Flow	20.41M	36.55M	-136.47M	-153.41M	-595.96M	-218.66M
Financing Cash Flow	-661.77M	-684.36M	-459.57M	-853.35M	-875.51M	-401.92M

Qorvo Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 91.91
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QRVO, the sentiment is Positive. The current price of 91.91 is above the 20-day moving average (MA) of 88.27, above the 50-day MA of 86.69, and above the 200-day MA of 75.96, indicating a bullish trend. The MACD of 1.61 indicates Negative momentum. The RSI at 64.60 is Neutral, neither overbought nor oversold. The STOCH value of 76.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for QRVO.

Qorvo Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CAMT	77 Outperform	$4.05B	30.49	24.28%	1.61%	27.88%	37.85%
SWKS	74 Outperform	$11.23B	30.58	6.61%	3.69%	-8.24%	-48.31%
QRVO	72 Outperform	$8.56B	107.81	2.33%	―	-8.84%	―
ON	69 Neutral	$20.85B	47.57	5.72%	―	-17.93%	-75.83%
Sector *	61 Neutral	$35.62B	8.22	-10.94%	1.88%	8.86%	-10.36%
MTSI	58 Neutral	$9.56B	138.48	-5.96%	―	33.50%	-197.38%
ALGM	57 Neutral	$5.86B	―	-6.75%	―	-18.82%	-195.20%

Qorvo Corporate Events

Qorvo Updates Executive Severance Packages for Officers

On August 14, 2025, Qorvo‘s Board of Directors approved new arrangements for its named executive officers, excluding CEO Robert A. Bruggeworth, to align severance packages with market practices. The changes include increased severance multiples, extended COBRA coverage, and adjusted performance-based equity awards in the event of a change in control, as well as a new Executive Severance Plan for terminations not related to a change in control, enhancing the company’s competitive positioning in executive compensation.

Qorvo Stockholders Approve Key Proposals at Annual Meeting

At the Annual Meeting, Qorvo‘s stockholders elected ten directors, approved executive compensation, and ratified Ernst & Young LLP as the independent accounting firm for the fiscal year ending March 28, 2026. Additionally, they approved amendments to the 2022 and 2007 plans, while a shareholder proposal was not approved.