Broadcom Inc. (AVGO)
Broadcom supplies networking, broadband, and custom silicon alongside a large enterprise-software portfolio anchored by VMware. The company is a key beneficiary of demand for AI-focused data-center connectivity.
AVGO vs NVDA: how the two businesses compare
- Bigger business: NVDA, with $215.9B of yearly revenue, about 3.4× AVGO's $63.9B.
- More cash from each sale: NVDA turns 48 cents of each sales dollar into operating cash flow, against 43 cents at AVGO.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
NVIDIA (NVDA) is the larger business by reported revenue: $215.9B in its fiscal year ended Jan 2026, about 3.4× AVGO's $63.9B (fiscal year ended Nov 2025). Both file with the SEC under the same industry code, SIC 3674 (Semiconductors & Related Devices).
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Information Technology
- Semiconductors & Related Devices
- Same classification
- Different
- AVGO November 1 · NVDA January 31
- Feb 25, 2026
AVGO vs NVDA: quick comparison
| Company fact | AVGO | NVDA |
|---|---|---|
| Company | Broadcom Inc. | NVIDIA Corporation |
| Exchange | NASDAQ | NASDAQ |
| Headquarters | Palo Alto, California | Santa Clara, California |
| Founded | 1961 | 1993 |
| SEC industry | Semiconductors & Related Devices | Semiconductors & Related Devices |
| Fiscal year-end | November 1 | January 31 |
| Latest annual filing | 10-K · 2025-12-18 | 10-K · 2026-02-25 |
AVGO vs NVDA: audited financials
- Scale: NVDA's $215.9B of revenue is about 3.4× AVGO's $63.9B.
- Cash conversion: operating cash flow equalled AVGO 43.1% of revenue; NVDA 47.6% of revenue, or 0.86× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: the fiscal years end about 3 months apart (2025-11-02 for AVGO, 2026-01-25 for NVDA), so each figure reflects somewhat different demand and cost conditions.
| Metric | AVGO | NVDA |
|---|---|---|
| Revenue | $63.9B2024-11-04 to 2025-11-02 · SEC filing | $215.9B2025-01-27 to 2026-01-25 · SEC filing |
| Net income | $5.9B2023-10-30 to 2024-11-03 · SEC filing | $120.1B2025-01-27 to 2026-01-25 · SEC filing |
| Operating cash flow | $27.5B2024-11-04 to 2025-11-02 · SEC filing | $102.7B2025-01-27 to 2026-01-25 · SEC filing |
| Diluted EPS | $4.772024-11-04 to 2025-11-02 · SEC filing | $4.902025-01-27 to 2026-01-25 · SEC filing |
| Net margin | — | 55.6%2025-01-27 to 2026-01-25 · SEC filing |
AVGO: FY ending 2025-11-02 · NVDA: FY ending 2026-01-25. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where AVGO and NVDA overlap, and where they don't
Overlap
- Same SEC industry: both report under SIC 3674, Semiconductors & Related Devices.
- Shared research themes: Artificial intelligence and Tariffs & trade.
Differences
- Offset fiscal calendars: AVGO's year ends November 1 and NVDA's January 31, about 3 months apart.
- Scale: NVDA reported about 3.4× the annual revenue of AVGO.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
NVIDIA Corporation (NVDA)
NVIDIA makes the graphics processors and data-center accelerators that train and run most modern AI models. Its chips have become the default hardware of the AI boom, making it a bellwether for the entire sector.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves AVGO
- Custom AI accelerator (XPU) and Ethernet networking demand from hyperscalers
- Concentration among the top five end customers and major distributors
- VMware Cloud Foundation subscription transition
- Interest expense and debt paydown after the VMware acquisition
What moves NVDA
- Data Center compute and networking demand from cloud providers, AI developers and enterprises
- Revenue concentration among a limited number of partners, distributors and direct customers
- U.S. export controls, which the fiscal 2026 10-K says effectively foreclosed China's data-center compute market
- Foundry, packaging and memory supply from partners such as TSMC, concentrated in Asia
The investment question
You now know NVDA reports about 3.4× AVGO's revenue. Those are the facts. The investment question is what each share price already assumes about “Custom AI accelerator (XPU) and Ethernet networking demand from hyperscalers” at AVGO and “Data Center compute and networking demand from cloud providers, AI developers and enterprises” at NVDA, and which evidence in the next filings would prove that assumption wrong.
Members-only research
Members-only research on AVGO and NVDA
- Issue 05: NVIDIA Is Building the Credit Market for AI
NVIDIA has found a way to turn knowledge of its own roadmap into a lower cost of capital for its customers. The result could move AI infrastructure from venture equity into private credit, insurance balance sheets and securitized debt.
- Issue 07: The Vote That Knocked Almost a Quarter off Data Center Stocks
Texas has frozen new data center approvals since the summer. The vote extends that freeze, but it cannot unplug campuses that already have power. We map who is exposed, test whether the sell-off overshot and say where the real risk sits.
The thesis, the numbers behind it, and what would break it. Full access is $39 a month.
Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. AVGO's fiscal year ends November 1, while NVDA's ends January 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 89 matched transaction rows for AVGO and 186 matched transaction rows for NVDA. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
AVGO primary filings
NVDA primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
AVGO vs NVDA FAQs
Are AVGO and NVDA direct competitors?
Broadcom and NVIDIA share the SEC industry classification “Semiconductors & Related Devices.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Is AVGO or NVDA the bigger company by revenue?
NVIDIA (NVDA) is the larger business by reported revenue: $215.9B in its fiscal year ended Jan 2026, about 3.4× AVGO's $63.9B (fiscal year ended Nov 2025). Both file with the SEC under the same industry code, SIC 3674 (Semiconductors & Related Devices). Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, AVGO or NVDA?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this AVGO vs NVDA comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Broadcom Inc. and NVIDIA Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
AVGO vs NVDA compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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