Qorvo Intrinsic Value Calculator – QORVO Reports USD 651.2 Million in Revenue and USD -43.6 Million Net Income for FY2024 Q1
August 24, 2023
🌥️Earnings Overview
For their FY2024 Q1, which ended on June 30 2023, QORVO ($NASDAQ:QRVO) reported a total revenue of USD 651.2 million and a net income of USD -43.6 million. This marked a 37.1% decrease in revenue and a decrease of USD 112.5 million in net income compared to the same period the previous year.
Price History
On Wednesday, QORVO reported their first quarter results for fiscal year 2024. The company reported revenue of USD 651.2 million for the quarter, however, their net income was USD -43.6 million. This was a 3.7% decrease from their previous closing price of USD 110.2, with the stock opening at USD 108.4 and closing at USD 106.1. QORVO’s performance in the quarter was far from ideal, however, investors are still hopeful that the semiconductor technology company will be able to turn things around in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Qorvo. More…
| Total Revenues | Net Income | Net Margin |
| 3.19k | -9.31 | -0.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Qorvo. More…
| Operations | Investing | Financing |
| 615.11 | -118.46 | -612.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Qorvo. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.69k | 2.87k | 38.85 |
Key Ratios Snapshot
Some of the financial key ratios for Qorvo are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -0.7% | -58.4% | 1.9% |
| FCF Margin | ROE | ROA |
| 14.4% | 1.0% | 0.6% |
Analysis – Qorvo Intrinsic Value Calculator
GoodWhale has analyzed QORVO‘s financials and we’ve determined that the intrinsic value of a QORVO share is around $126.0. This value is based on our proprietary Valuation Line, which was designed by our team of financial experts. This presents a great opportunity for investors looking to add a good stock to their portfolio. More…
Peers
In the world of semiconductor companies that provide radio frequency products, Qorvo Inc. has stiff competition. Its main competitors are Skyworks Solutions Inc, Broadcom Inc, and Qualcomm Inc. All of these companies are vying for a share of the market in order to provide their customers with the best products possible.
– Skyworks Solutions Inc ($NASDAQ:SWKS)
Skyworks Solutions Inc is a semiconductor company that designs, manufactures, and markets radio frequency and mixed signal semiconductor solutions for mobile, base station, satellite communications, WiFi, cable television, and other wireless communications applications. The company has a market cap of 13.87B as of 2022 and a return on equity of 17.47%.
– Broadcom Inc ($NASDAQ:AVGO)
Broadcom Inc is a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions. The company’s products enable the delivery of voice, video, data and multimedia content over fixed and mobile networks to homes, businesses and public places. Broadcom’s product portfolio includes switching, routing, security and storage solutions. The company markets its products to enterprises, service providers and consumers worldwide.
– Qualcomm Inc ($NASDAQ:QCOM)
Qualcomm Inc is a leading telecommunications company with a market cap of 131.76B as of 2022. The company has a strong focus on research and development and has a return on equity of 65.09%. Qualcomm’s products and services include chipsets, modems, and other technology solutions for the wireless industry. The company has a strong presence in the global market and is a major player in the development of 5G technology.
Summary
QORVO reported a significant drop in revenue and net income for their first fiscal quarter of 2024, ending June 30th 2023. This was primarily driven by a 37.1% decrease in total revenue and a decrease of USD 112.5 million in net income compared to the same period in the previous year. As a result, its stock price moved down significantly on the same day. For investors looking to invest in QORVO, it is important to consider the company’s financial performance and outlook before making any commitments.
Short-term investors should be aware of the risks and take into consideration the company’s competitive position in the market, technological advancements, and other potential catalysts that may drive the stock price. Long-term investors should also consider the company’s fundamentals, such as profitability, cash flow, and potential opportunities for growth in order to determine whether or not there’s a good chance of ROI over the long-term.
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