Broadcom Inc. (AVGO) [Rocket]

In millions, except per share items	Oct-30-22	Oct-31-21	Nov-01-20	Nov-03-19	Nov-04-18	Oct-29-17	Oct-30-16
	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Semiconductor solutions	25,818	20,383	17,267	17,441	19,068	17,491
CHINA	11,637	9,752	7,808	8,056	10,305	9,460	7,184
Other	11,648	9,659	11,302	7,799	7,846	6,910
Infrastructure software	7,385	7,067	6,621	5,156	1,780
Other							6,056
Total revenues	33,203	27,450	23,888	22,597	20,848	17,636	13,240
Revenue growth [+]	21.0%	14.9%	5.7%	8.4%	18.2%	33.2%
Semiconductor solutions	26.7%	18.0%	-1.0%	-8.5%	9.0%
CHINA	19.3%	24.9%	-3.1%	-21.8%	8.9%	31.7%
Other	20.6%	-14.5%	44.9%	-0.6%	13.5%
Infrastructure software	4.5%	6.7%	28.4%	189.7%
UNITED STATES	11.9%	10.6%	12.8%	57.0%	113.0%	12.6%
Cost of goods sold [+]	11,108	10,606	10,372	10,114	10,115	22,229	8,542
Cost of product sales	7,629	6,555	5,892	6,208	6,924	6,549	5,295
Non-recurring costs							57
Gross profit	22,095	16,844	13,516	12,483	10,733	-4,593	4,698
Gross margin	66.5%	61.4%	56.6%	55.2%	51.5%	-26.0%	35.5%
Selling, general and administrative	1,382	1,347	1,935	1,709	1,056	789	806
Research and development	4,919	4,854	4,968	4,696	3,768	3,302	2,674
Other operating expenses	-2,852	-3,444	-3,854	-3,391	-3,024	-17,396	574
EBITDA [+]	14,816	9,223	4,817	4,826	5,903	7,410	3,686
EBITDA growth	60.6%	91.5%	-0.2%	-18.2%	-20.3%	101.0%
EBITDA margin	44.6%	33.6%	20.2%	21.4%	28.3%	42.0%	27.8%
Depreciation	-3,830	-4,864	-5,650	-4,643	-3,030	-1,302	402
EBITA	18,646	14,087	10,467	9,469	8,933	8,712	3,284
EBITA margin	56.2%	51.3%	43.8%	41.9%	42.8%	49.4%	24.8%
Amortization of intangibles	4,359	5,403	6,220	5,212	3,545	6,039	2,640
EBIT [+]	14,287	8,684	4,247	4,257	5,388	2,673	644
EBIT growth	64.5%	104.5%	-0.2%	-21.0%	101.6%	315.1%
EBIT margin	43.0%	31.6%	17.8%	18.8%	25.8%	15.2%	4.9%
Non-recurring items [+]	62	165	233	813	253	302	1,053
Asset impairment	57	148	198	736	219	161	996
Non-recurring expenses in COGS							57
Legal settlement					14	122
Interest expense, net [+]	1,637	1,869	1,724	1,346	514	410	575
Interest expense	1,737	1,885	1,777	1,444	628	454	585
Interest income	100	16	53	98	114	44	10
Other income (expense), net [+]	-154	115	153	128	-76	-136	-123
Impairment of investments					-106
Gain (loss) on debt retirement						-166	-123
Other	-54	131	206	226	144	74	37
Pre-tax income	12,434	6,765	2,443	2,226	4,545	1,825	-1,107
Income taxes	939	29	-518	-510	-8,084	35	642
Tax rate	7.6%	0.4%				1.9%
Minority interest					-351	92	-122
Earnings from continuing ops	11,223	6,437	2,664	2,707	12,278	1,698	-1,627
Earnings from discontinued ops			-1	-12	-19	-6	-112
Net income	11,223	6,437	2,663	2,695	12,259	1,692	-1,739
Net margin	33.8%	23.4%	11.1%	11.9%	58.8%	9.6%	-13.1%

Basic EPS [+]	$27.44	$15.70	$6.63	$6.80	$29.37	$4.19	($4.45)
Growth	74.8%	136.9%	-2.6%	-76.8%	600.6%	-194.3%
Diluted EPS [+]	$26.53	$15.00	$6.33	$6.46	$28.49	$4.03	($4.25)
Growth	76.8%	137.1%	-2.1%	-77.3%	606.3%	-194.9%

Dividends per share [+]	$16.40	$14.40	$13.00	$10.60	$7.00	$4.08	$1.94
Growth	13.9%	10.8%	22.6%	51.4%	71.6%	110.3%

Shares outstanding (basic) [+]	409	410	402	398	418	405	366
Growth	-0.2%	2.0%	1.0%	-4.8%	3.2%	10.7%
Shares outstanding (diluted) [+]	423	429	421	419	431	421	383
Growth	-1.4%	1.9%	0.5%	-2.8%	2.4%	9.9%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.