Qorvo (QRVO)
Market Price (10/15/2025): $87.56 | Market Cap: $8.1 BilSector: Information Technology | Industry: Semiconductors
Qorvo (QRVO)
Market Price (10/15/2025): $87.56Market Cap: $8.1 BilSector: Information TechnologyIndustry: Semiconductors
Investment Highlights
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% | Weak multi-year price returns2Y Excs Rtn is -58%, 3Y Excs Rtn is -75% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 101x |
Attractive yieldFCF Yield is 7.2% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.8%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.5%, Rev Chg QQuarterly Revenue Change % is -7.7% | |
Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% |
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% |
Attractive yieldFCF Yield is 7.2% |
Weak multi-year price returns2Y Excs Rtn is -58%, 3Y Excs Rtn is -75% |
Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 101x |
Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.8%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.5%, Rev Chg QQuarterly Revenue Change % is -7.7% |
Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% |
Market Valuation & Key Metrics
QRVO Stock
Price Returns Compared
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
---|---|---|---|---|---|---|---|
Returns | |||||||
QRVO Return | 43% | -6% | -42% | 24% | -38% | 26% | -28% |
Peers Return | 17% | 26% | -17% | 4% | 26% | 10% | 76% |
S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 13% | 103% |
Monthly Win Rates [3] | |||||||
QRVO Win Rate | 67% | 58% | 25% | 58% | 50% | 56% | |
Peers Win Rate | 53% | 53% | 32% | 38% | 50% | 47% | |
S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 67% | |
Max Drawdowns [4] | |||||||
QRVO Max Drawdown | -40% | -12% | -50% | -6% | -42% | -27% | |
Peers Max Drawdown | -23% | -4% | -26% | -14% | -7% | -11% | |
S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: TXN, MSI, ERIC, NOK, AMBQ. See QRVO Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/14/2025 (YTD)
Downturns Compared
Event | QRVO | S&P 500 |
---|---|---|
2022 Inflation Shock | ||
% Loss | -60.7% | -25.4% |
% Gain to Breakeven | 154.7% | 34.1% |
Time to Breakeven | Not Fully Recovered days | 464 days |
2020 Covid Pandemic | ||
% Loss | -41.6% | -33.9% |
% Gain to Breakeven | 71.1% | 51.3% |
Time to Breakeven | 129 days | 148 days |
2018 Correction | ||
% Loss | -35.6% | -19.8% |
% Gain to Breakeven | 55.3% | 24.7% |
Time to Breakeven | 302 days | 120 days |
How Low Can It Go?
Qorvo's stock fell -60.7% during the 2022 Inflation Shock from a high on 4/29/2021. A -60.7% loss requires a 154.7% gain to breakeven.
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About Qorvo (QRVO)
Qorvo, Inc. develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions. It also provides integrated solutions that include switch-LNA modules, variable gain amplifiers, discrete power amplifiers (PA), and integrated PA Doherty modules for massive multiple-input/multiple-output systems; RF products and compound semiconductor foundry services to defense primes and other global defense and aerospace customers; Wi-Fi customer premises equipment, including power amplifiers, switches, low noise amplifiers, and bulk acoustic wave filters; system-on-a-chip (SoC) hardware, firmware, and application software for smart home applications; automotive RF connectivity products and UWB SoC solutions; and power application controllers and programmable analog power ICs. The company sells its products directly to original equipment manufacturers and original design manufacturers, as well as through a network of sales representative firms and distributors. Qorvo, Inc. was founded in 1957 and is headquartered in Greensboro, North Carolina.
Latest Trefis Analyses
Trade Ideas
Select past trade ideas related to QRVO and Semiconductors.
Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
---|---|---|---|---|---|---|---|
09302025 | ADBE | Adobe | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -4.8% | -4.8% | -4.8% |
09302025 | CRM | Salesforce | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 1.2% | 1.2% | -0.6% |
09302025 | MPWR | Monolithic Power Systems | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 5.2% | 5.2% | -1.8% |
09262025 | POWI | Power Integrations | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 17.5% | 17.5% | -13.4% |
09262025 | ROP | Roper Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 3.1% | 3.1% | -0.3% |
01312023 | QRVO | Qorvo | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 1.4% | -8.2% | -21.3% |
07312022 | QRVO | Qorvo | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 7.2% | 5.7% | -24.7% |
01312022 | QRVO | Qorvo | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -25.1% | -20.8% | -42.9% |
Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
---|---|---|---|---|---|---|---|
09302025 | ADBE | Adobe | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -4.8% | -4.8% | -4.8% |
09302025 | CRM | Salesforce | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 1.2% | 1.2% | -0.6% |
09302025 | MPWR | Monolithic Power Systems | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 5.2% | 5.2% | -1.8% |
09262025 | POWI | Power Integrations | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 17.5% | 17.5% | -13.4% |
09262025 | ROP | Roper Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 3.1% | 3.1% | -0.3% |
01312023 | QRVO | Qorvo | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 1.4% | -8.2% | -21.3% |
07312022 | QRVO | Qorvo | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 7.2% | 5.7% | -24.7% |
01312022 | QRVO | Qorvo | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -25.1% | -20.8% | -42.9% |
See Trefis Trade Ideas for more.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Qorvo
Financials
Median | |
---|---|
Name | |
Mkt Price | 59.95 |
Mkt Cap | 32.8 |
Rev LTM | 13,884 |
Op Inc LTM | 1,776 |
FCF LTM | 1,503 |
FCF 3Y Avg | 2,053 |
CFO LTM | 2,612 |
CFO 3Y Avg | 4,522 |
Growth & Margins
Median | |
---|---|
Name | |
Rev Chg LTM | 1.1% |
Rev Chg 3Y Avg | -4.5% |
Rev Chg Q | 1.8% |
QoQ Delta Rev Chg LTM | 0.4% |
Op Mgn LTM | 10.7% |
Op Mgn 3Y Avg | 8.0% |
QoQ Delta Op Mgn LTM | 0.6% |
CFO/Rev LTM | 19.8% |
CFO/Rev 3Y Avg | 21.1% |
FCF/Rev LTM | 12.7% |
FCF/Rev 3Y Avg | 14.0% |
Valuation
Median | |
---|---|
Name | |
Mkt Cap | 32.8 |
P/S | 2.2 |
P/EBIT | 25.5 |
P/E | 31.3 |
P/CFO | 17.9 |
Total Yield | 3.7% |
Dividend Yield | 0.0% |
FCF Yield 3Y Avg | 4.8% |
D/E | 0.1 |
Net D/E | 0.0 |
Returns
Median | |
---|---|
Name | |
1M Rtn | -1.6% |
3M Rtn | 13.0% |
6M Rtn | 16.9% |
12M Rtn | -1.6% |
3Y Rtn | 35.6% |
1M Excs Rtn | -0.8% |
3M Excs Rtn | 4.8% |
6M Excs Rtn | -5.9% |
12M Excs Rtn | -14.8% |
3Y Excs Rtn | -46.0% |
Comparison Analyses
Segment Financials
Revenue by Segment
$ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
---|---|---|---|---|---|
Advanced Cellular Group (ACG) | 2,762 | 2,368 | 3,234 | 2,559 | |
High Performance Analog (HPA) | 573 | 727 | 707 | 803 | |
Connectivity and Sensors Group (CSG) | 435 | 474 | 704 | 653 | |
Infrastructure and Defense Products | 841 | ||||
Mobile Products | 2,398 | ||||
Total | 3,770 | 3,569 | 4,646 | 4,015 | 3,239 |
$ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
---|---|---|---|---|---|
Advanced Cellular Group (ACG) | 728 | 628 | 1,233 | 969 | |
High Performance Analog (HPA) | 83 | 199 | 210 | 257 | |
Acquisition and integration-related costs | -11 | -23 | |||
All other | -24 | -3 | -326 | -385 | -438 |
Net adjustments related to a terminated capacity reservation agreement | -38 | -181 | |||
Connectivity and Sensors Group (CSG) | -89 | -72 | 108 | 67 | |
Restructuring-related charges | -93 | -114 | |||
Stock-based compensation expense | -121 | -106 | |||
Amortization of intangible assets | -122 | -132 | |||
Goodwill and intangible asset impairment (2) | -221 | -12 | |||
Infrastructure and Defense Products | 145 | ||||
Mobile Products | 716 | ||||
Total | 92 | 183 | 1,226 | 907 | 423 |
Returns Analyses
Earnings Returns History
Expand for MoreForward Returns | |||
---|---|---|---|
Earnings Date | 1D Returns | 5D Returns | 21D Returns |
7/29/2025 | 2.2% | 0.3% | 8.6% |
4/29/2025 | 14.4% | 12.2% | 22.0% |
1/28/2025 | 0.3% | -4.5% | -17.3% |
10/29/2024 | -27.3% | -28.5% | -31.9% |
7/30/2024 | 0.3% | -13.8% | -6.0% |
5/1/2024 | -14.5% | -14.2% | -12.1% |
1/31/2024 | 6.0% | 11.1% | 19.9% |
11/1/2023 | -2.7% | 0.1% | 10.9% |
... | |||
SUMMARY STATS | |||
# Positive | 13 | 9 | 12 |
# Negative | 11 | 15 | 12 |
Median Positive | 2.2% | 10.8% | 13.0% |
Median Negative | -5.8% | -4.8% | -10.2% |
Max Positive | 20.2% | 25.3% | 27.3% |
Max Negative | -27.3% | -28.5% | -31.9% |
SEC Filings
Expand for MoreReport Date | Filing Date | Filing |
---|---|---|
6302025 | 7302025 | 10-Q 6/28/2025 |
3312025 | 5192025 | 10-K 3/29/2025 |
12312024 | 1292025 | 10-Q 12/28/2024 |
9302024 | 10302024 | 10-Q 9/28/2024 |
6302024 | 7312024 | 10-Q 6/29/2024 |
3312024 | 5202024 | 10-K 3/30/2024 |
12312023 | 2012024 | 10-Q 12/30/2023 |
9302023 | 11022023 | 10-Q 9/30/2023 |
6302023 | 8032023 | 10-Q 7/1/2023 |
3312023 | 5192023 | 10-K 4/1/2023 |
12312022 | 2022023 | 10-Q 12/31/2022 |
9302022 | 11032022 | 10-Q 10/1/2022 |
6302022 | 8042022 | 10-Q 7/2/2022 |
3312022 | 5202022 | 10-K 4/2/2022 |
12312021 | 2032022 | 10-Q 1/1/2022 |
9302021 | 11042021 | 10-Q 10/2/2021 |
Insider Activity
Expand for MoreOwner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
---|---|---|---|---|---|---|---|---|---|
0 | Chesley Philip | SVP, High Performance Analog | 8192025 | Sell | 90.09 | 2,664 | 240,000 | 3,026,303 | Form |
1 | Chesley Philip | SVP, High Performance Analog | 5192025 | Sell | 78.50 | 5,371 | 421,624 | 1,670,244 | Form |
2 | HARDING JOHN R | 5082025 | Sell | 70.09 | 1,450 | 101,630 | 532,474 | Form | |
3 | Chesley Philip | SVP, High Performance Analog | 12062024 | Sell | 70.15 | 4,045 | 283,757 | 2,122,809 | Form |
4 | Chesley Philip | SVP, High Performance Analog | 11182024 | Sell | 65.63 | 1,565 | 102,711 | 2,251,503 | Form |
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