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Qorvo Operating Income

: $1,031 Mil (TTM As of Jun. 2022)
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Qorvo's Operating Income for the three months ended in Jun. 2022 was $102 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2022 was $1,031 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Qorvo's Operating Income for the three months ended in Jun. 2022 was $102 Mil. Qorvo's Revenue for the three months ended in Jun. 2022 was $1,035 Mil. Therefore, Qorvo's Operating Margin % for the quarter that ended in Jun. 2022 was 9.84%.

Good Sign:

Qorvo Inc operating margin is expanding. Margin expansion is usually a good sign.

Qorvo's 5-Year average Growth Rate for Operating Margin % was 69.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Qorvo's annualized ROC % for the quarter that ended in Jun. 2022 was 5.95%. Qorvo's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2022 was 19.20%.


Qorvo Operating Income Historical Data

The historical data trend for Qorvo's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Qorvo Annual Data
Trend Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22
Operating Income
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 70.28 216.47 423.22 906.63 1,226.07

Qorvo Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Operating Income Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 297.10 362.36 296.01 270.60 101.86

Qorvo Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,031 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Qorvo  (NAS:QRVO) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Qorvo's annualized ROC % for the quarter that ended in Jun. 2022 is calculated as:

ROC % (Q: Jun. 2022 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2022 ) + Invested Capital (Q: Jun. 2022 ))/ count )
=407.436 * ( 1 - 13.4% )/( (5968.379 + 5894.843)/ 2 )
=352.839576/5931.611
=5.95 %

where

Invested Capital(Q: Mar. 2022 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=7509.072 - 568.101 - ( 972.592 - max(0, 675.127 - 2449.865+972.592))
=5968.379

Invested Capital(Q: Jun. 2022 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=7330.521 - 576.887 - ( 858.791 - max(0, 718.45 - 2372.489+858.791))
=5894.843

Note: The Operating Income data used here is four times the quarterly (Jun. 2022) data.

2. Joel Greenblatt's definition of Return on Capital:

Qorvo's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2022 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2022 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2022  Q: Jun. 2022
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=387.188/( ( (1253.591 + max(769.995, 0)) + (1234.334 + max(774.5, 0)) )/ 2 )
=387.188/( ( 2023.586 + 2008.834 )/ 2 )
=387.188/2016.21
=19.20 %

where Working Capital is:

Working Capital(Q: Mar. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(568.85 + 755.748 + 120.524) - (568.101 + 0 + 107.026)
=769.995

Working Capital(Q: Jun. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(535.359 + 847.378 + 110.213) - (576.887 + 0 + 141.563)
=774.5

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2022) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Qorvo's Operating Margin % for the quarter that ended in Jun. 2022 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2022 )/Revenue (Q: Jun. 2022 )
=101.859/1035.358
=9.84 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Qorvo Operating Income Related Terms

Thank you for viewing the detailed overview of Qorvo's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.


Qorvo Business Description

Qorvo logo
Traded in Other Exchanges
Address
7628 Thorndike Road, Greensboro, NC, USA, 27409-9421
Qorvo represents the combined entity of RF Micro Devices and TriQuint Semiconductor, which merged with one another in January 2015. The company specializes in radio frequency filters, power amplifiers, and front-end modules used in many of the world's most advanced smartphones. Qorvo also has a suite of products sold into a variety of nonsmartphone end markets, such as wireless base stations, cable TV and networking equipment, and infrastructure and military applications.
Executives
Brown Grant officer: VP of Treasury & Interim CFO 7628 THORNDIKE ROAD GREENSBORO NC 27409
Chesley Philip officer: Pres. Infra & Defense 7628 THORNDIKE ROAD GREENSBORO NC 27409
Bruner Judy director C/O SANDISK CORPORATION 601 MCCARTHY BLVD. MILPITAS CA 95035
Fego Paul J officer: VP, Global Operations 15 SECOR ROAD PO BOX 5226 BROOKFIELD CT 06804
Spradley Susan Louise director C/O NORTEL NETWORKS 8200 DIXIE ROAD STE 100 BRAMPTON ONTARIO A6 L6T 5PT
Murphy Mark J. officer: Chief Financial Officer DELPHI AUTOMOTIVE PLC 5725 DELPHI DRIVE TROY MI 48098
Harrison Gina officer: VP and Corporate Controller 7628 THORNDIKE ROAD GREENSBORO NC 27409
Quinsey Ralph director C/O TRIQUINT SEMICONDUCTOR INC 2300 NE BROOKWOOD PKWY HILLSBORO OR 97124
Laber Michael J. officer: VP and Corporate Controller 2300 NE BROOKWOOD PARKWAY HILLSBORO OR 97124
Buhaly Steven J officer: CFO and Secretary 1195 NW LOMPTON DRIVE BEAVESTON OR 97006
Dileo Daniel A director C/O RF MICRO DEVICES 7628 THORNDIKE ROAD GREENSBORO NC 27409
Gibson C Scott director PMB 316, PO BOX 30,000 JACKSON WY 83002
Nelson Roderick director 2300 NE BROOKWOOD PARKWAY HILLSBORO OR 97124
Ho David H Y director 5500 WAYZATA BOULEVARD SUITE 600 GOLDEN VALLEY MN 55416
Wilkinson Walter H director C/O RF MICRO DEVICES, INC. 7628 THORNDIKE ROAD GREENSBORO NC 27409

Qorvo Headlines

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