"Our largest growth opportunity in ACG is with our largest customer, and we are investing today to continue increasing our share with them in subsequent programs over multiple years." - Bob Bruggeworth, CEO
— Bob Bruggeworth
03Detailed Report
QRVO
Qorvo Inc
Period
Q3 2025
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 15, 2026
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Executive Summary
In Q3 2025, Qorvo Inc (QRVO) reported revenue of $916 million, reflecting a decrease of 2.62% year-over-year, driven by significant challenges in both the Android ecosystem and automotive markets. Management highlighted a shift towards premium segments to enhance profitability amidst declining traditional product lines. Notably, net income surged to $41 million, marking a substantial increase compared to previous quarters, buoyed by recent cost-reduction measures and successful scales in defense and aerospace markets. Gross margins faced pressures from exiting lower-margin Android products, but strategic restructuring efforts are expected to stabilize and potentially enhance profitability moving forward.
Key Performance Indicators
Revenue
Decreasing
916.32M
QoQ: -12.44% | YoY: -2.62%
Gross Profit
Decreasing
391.42M
42.72% margin
QoQ: -12.10% | YoY: -4.62%
Operating Income
Decreasing
53.03M
QoQ: 448.06% | YoY: -42.43%
Net Income
Increasing
41.27M
QoQ: 336.71% | YoY: 1 408.99%
EPS
Increasing
0.44
QoQ: 344.44% | YoY: 1 454.77%
Revenue Trend
Margin Analysis
Financial Highlights
1. Revenue: $916 million, down 12.44% quarter-over-quarter.
2. Net Income: $41.27 million, a significant increase of 1,408.99% year-over-year.
3. Gross Profit Margin: 42.7%, with pressures anticipated due to lower-performing product lines.
4. Operating Cash Flow: $214 million, demonstrating strong operational efficiency.
5. Total Debt: $1.5 billion, with no near-term maturities, showcasing a solid balance sheet position amidst restructuring.
Key insights from management emphasize the focus on premium products and the expected decline in Android 5G revenue by $150 million to $200 million annually, which necessitates adaptative strategic measures moving into FY26 and beyond.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
916.32M
-2.62%
-12.44%
Gross Profit
391.42M
-4.62%
-12.10%
Operating Income
53.03M
-42.43%
448.06%
Net Income
41.27M
1 408.99%
336.71%
EPS
0.44
1 454.77%
344.44%
Key Financial Ratios
Gross Profit Margin
Good
42.70%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Fair
5.79%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Fair
4.50%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Weak
0.69%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
1.22%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
2.60
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Moderate
0.46
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
High Growth
40.81x
Very high P/E indicates aggressive growth expectations, higher risk
Price to Book
Fair Value
1.99x
Price-to-book ratio reasonable for profitable companies
Management Insights Available for Members
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