Why Did Stan Druckenmiller Sell Broadcom Stock?
In Q3, legendary macro investor Stan Druckenmiller sold his entire…
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Revenue | $407.1M | $555.9M | $421.5M | $417.6M | $263.2M | |
| Revenue Growth (YoY) | 39.04% | 36.59% | -24.18% | -0.93% | -36.97% | |
| Cost of Revenues | $62.4M | $99.4M | $98M | $181.4M | $157.2M | |
| Gross Profit | $344.7M | $456.6M | $323.5M | $236.2M | $106M | |
| Gross Profit Margin | 84.67% | 82.13% | 76.76% | 56.56% | 40.29% | |
| R&D Expenses | $10.3M | $14.6M | $13.5M | $12.9M | $11.5M | |
| Selling, General & Admin | $318.9M | $476M | $419.5M | $230.5M | $107.6M | |
| Other Inc / (Exp) | -$1.1M | -$1.3M | $502.3K | -$451.3K | -$501.4K | |
| Operating Expenses | $325.6M | $477.6M | $417.7M | $232.5M | $113.5M | |
| Operating Income | $19.1M | -$21M | -$94.2M | $3.7M | -$7.4M | |
| Net Interest Expenses | $4.4M | $5.9M | $4.6M | $596.8K | -- | |
| EBT. Incl. Unusual Items | $13.6M | -$19.3M | -$88.6M | $15.6M | $5.3M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $2.7M | -- | $17M | $3M | $7.2M | |
| Net Income to Company | $10.9M | -$19.3M | -$105.6M | $12.5M | -$1.9M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | $10.9M | -$19.3M | -$105.6M | $12.5M | -$1.9M | |
| Basic EPS (Cont. Ops) | -$1.82 | -$3.78 | -$0.41 | $0.05 | -$0.01 | |
| Diluted EPS (Cont. Ops) | -$1.82 | -$3.78 | -$0.41 | $0.05 | -$0.01 | |
| Weighted Average Basic Share | $249.3M | $203.3M | $259.2M | $259.9M | $255.7M | |
| Weighted Average Diluted Share | $249.3M | $203.3M | $259.2M | $259.9M | $255.7M | |
| EBITDA | $69.3M | $40.5M | -$27.5M | $42.6M | $14.5M | |
| EBIT | $19.5M | -$21M | -$94.2M | $3.7M | -$7.4M | |
| Revenue (Reported) | $407.1M | $555.9M | $421.5M | $417.6M | $263.2M | |
| Operating Income (Reported) | $19.1M | -$21M | -$94.2M | $3.7M | -$7.4M | |
| Operating Income (Adjusted) | $19.5M | -$21M | -$94.2M | $3.7M | -$7.4M | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Revenue | $139.7M | $130.8M | $83.7M | $67.3M | $75.6M | |
| Revenue Growth (YoY) | -- | -6.42% | -36.01% | -19.57% | 12.3% | |
| Cost of Revenues | $16.6M | $24.1M | $19.8M | $26.5M | $56.3M | |
| Gross Profit | $123M | $106.7M | $63.9M | $40.8M | $19.3M | |
| Gross Profit Margin | 88.1% | 81.58% | 76.34% | 60.59% | 25.47% | |
| R&D Expenses | $3.1M | $3.7M | $2.2M | $3.8M | $3.1M | |
| Selling, General & Admin | $105.6M | $115.1M | $93.1M | $38.6M | $19.8M | |
| Other Inc / (Exp) | -$337.2K | -$1.1M | $1M | $700.9K | -$873.1K | |
| Operating Expenses | $107.7M | $118.8M | $95.3M | $42.4M | $22.9M | |
| Operating Income | $15.3M | -$12.1M | -$31.4M | -$1.7M | -$3.6M | |
| Net Interest Expenses | $1M | $1.2M | $649.8K | -- | -- | |
| EBT. Incl. Unusual Items | $14M | -$10.7M | -$30.9M | $2.1M | -$2.8M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $2.8M | -- | $16.1M | $180.3K | $1M | |
| Net Income to Company | -- | -- | -- | -- | -- | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | $11.2M | -$10.7M | -$47M | $1.9M | -$3.9M | |
| Basic EPS (Cont. Ops) | -$0.75 | -$0.04 | -$0.18 | $0.01 | -$0.02 | |
| Diluted EPS (Cont. Ops) | -$0.75 | -$0.04 | -$0.18 | $0.01 | -$0.02 | |
| Weighted Average Basic Share | $249.3M | $259.3M | $259.4M | $259.6M | $256.1M | |
| Weighted Average Diluted Share | $249.3M | $259.3M | $259.4M | $259.6M | $256.1M | |
| EBITDA | $15.6M | -$9.5M | -$33.6M | $2.1M | -$2.8M | |
| EBIT | $15.6M | -$12.1M | -$31.4M | -$1.7M | -$3.6M | |
| Revenue (Reported) | $139.7M | $130.8M | $83.7M | $67.3M | $75.6M | |
| Operating Income (Reported) | $15.3M | -$12.1M | -$31.4M | -$1.7M | -$3.6M | |
| Operating Income (Adjusted) | $15.6M | -$12.1M | -$31.4M | -$1.7M | -$3.6M | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Revenue | $409.1M | $555.8M | $423.1M | $419.8M | $263.2M | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | $62.5M | $86.4M | $82.8M | $170.1M | $151.6M | |
| Gross Profit | $346.6M | $469.4M | $340.3M | $249.7M | $111.6M | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | $10.3M | $14.6M | $13.6M | $12.9M | $11.5M | |
| Selling, General & Admin | $320.2M | $476M | $420.2M | $232.5M | $108M | |
| Other Inc / (Exp) | -$1.1M | -$1.3M | $472.2K | -$478K | -$496.7K | |
| Operating Expenses | $326.9M | $490.5M | $433.8M | $245.2M | $119.5M | |
| Operating Income | $19.7M | -$21.1M | -$93.5M | $4.5M | -$7.9M | |
| Net Interest Expenses | $4.4M | $5.9M | $4.7M | $617.9K | -- | |
| EBT. Incl. Unusual Items | $14.2M | -$19.4M | -$88M | $16.8M | $5M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $2.8M | -$400 | $16.1M | $3.1M | $7M | |
| Net Income to Company | -- | -- | -- | -- | -- | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | $11.4M | -$19.4M | -$104.1M | $13.7M | -$2.1M | |
| Basic EPS (Cont. Ops) | -$1.84 | -$3.07 | -$0.40 | $0.05 | -$0.01 | |
| Diluted EPS (Cont. Ops) | -$1.84 | -$3.07 | -$0.40 | $0.05 | -$0.01 | |
| Weighted Average Basic Share | ||||||
| Weighted Average Diluted Share | ||||||
| EBITDA | $20.1M | -$13.5M | -$86.6M | $17.4M | $5M | |
| EBIT | $20.1M | -$21.1M | -$93.5M | $4.5M | -$7.9M | |
| Revenue (Reported) | $409.1M | $555.8M | $423.1M | $419.8M | $263.2M | |
| Operating Income (Reported) | $19.7M | -$21.1M | -$93.5M | $4.5M | -$7.9M | |
| Operating Income (Adjusted) | $20.1M | -$21.1M | -$93.5M | $4.5M | -$7.9M | |
| Period Ending | 2022-01-07 | 2023-01-07 | 2024-01-07 | 2025-01-07 | ||
|---|---|---|---|---|---|---|
| Revenue | -- | -- | -- | -- | -- | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | -- | -- | -- | -- | -- | |
| Gross Profit | -- | -- | -- | -- | -- | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | -- | -- | -- | -- | |
| Selling, General & Admin | -- | -- | -- | -- | -- | |
| Other Inc / (Exp) | -- | -- | -- | -- | -- | |
| Operating Expenses | -- | -- | -- | -- | -- | |
| Operating Income | -- | -- | -- | -- | -- | |
| Net Interest Expenses | -- | -- | -- | -- | -- | |
| EBT. Incl. Unusual Items | -- | -- | -- | -- | -- | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -- | -- | -- | -- | -- | |
| Net Income to Company | -- | -- | -- | -- | -- | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | -- | -- | -- | -- | -- | |
| Basic EPS (Cont. Ops) | -- | -- | -- | -- | -- | |
| Diluted EPS (Cont. Ops) | -- | -- | -- | -- | -- | |
| Weighted Average Basic Share | -- | -- | -- | -- | -- | |
| Weighted Average Diluted Share | -- | -- | -- | -- | -- | |
| EBITDA | -- | -- | -- | -- | -- | |
| EBIT | -- | -- | -- | -- | -- | |
| Revenue (Reported) | -- | -- | -- | -- | -- | |
| Operating Income (Reported) | -- | -- | -- | -- | -- | |
| Operating Income (Adjusted) | -- | -- | -- | -- | -- | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | $191.7M | $429.2M | $439.4M | $465.8M | $412.6M | |
| Short Term Investments | $26.1M | $222.6M | $303.1M | $358.6M | $292M | |
| Accounts Receivable, Net | $2.9M | $3.2M | $2.4M | $37.9M | $38.8M | |
| Inventory | -- | $2.2M | $16.9M | $50.1M | $46.1M | |
| Prepaid Expenses | $28.8M | $58.9M | $12.1M | $9.2M | $3.5M | |
| Other Current Assets | $371.5K | $1.6M | $522.1K | $901.3K | $775.9K | |
| Total Current Assets | $267.2M | $509.6M | $474.8M | $566.6M | $541M | |
| Property Plant And Equipment | $148.3M | $148.3M | $129.3M | $47.8M | $20.3M | |
| Long-Term Investments | -- | $3.1M | $3M | $2.8M | $2.7M | |
| Goodwill | -- | -- | -- | -- | -- | |
| Other Intangibles | -- | -- | -- | -- | -- | |
| Other Long-Term Assets | -- | $3.6M | $3.2M | $3M | $2.8M | |
| Total Assets | $426.4M | $690.1M | $616.8M | $636.6M | $578.4M | |
| Accounts Payable | $46.8M | $86.6M | $116.5M | $108.2M | $77.2M | |
| Accrued Expenses | $715K | -- | $5.2M | $4.5M | -- | |
| Current Portion Of Long-Term Debt | -- | -- | $11.1M | -- | -- | |
| Current Portion Of Capital Lease Obligations | -- | -- | $1.4M | $1M | $176.9K | |
| Other Current Liabilities | $2.4M | $4.2M | $375.7K | $4.9M | $5.6M | |
| Total Current Liabilities | $130.8M | $161.4M | $204.7M | $209.6M | $170.5M | |
| Long-Term Debt | $30.2M | $13.6M | $4.9M | $1.1M | $724K | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $166.4M | $182.9M | $236.8M | $251.7M | $214.4M | |
| Common Stock | $786.4M | $54.4K | $49.9K | $48.9K | $47.5K | |
| Other Common Equity Adj | $33.4M | $10.7M | $26.2M | $28.1M | $30.1M | |
| Common Equity | -$526.4M | $434.6M | $325.7M | $330M | $310.9M | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -- | -- | -- | -- | |
| Total Equity | $260M | $507.1M | $380M | $384.8M | $363.9M | |
| Total Liabilities and Equity | $426.4M | $690.1M | $616.8M | $636.6M | $578.4M | |
| Cash and Short Terms | $217.8M | $429.2M | $439.4M | $465.8M | $412.6M | |
| Total Debt | $33.9M | $26.8M | $15.9M | $1.1M | $724K | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | $191.7M | $429.2M | $439.4M | $465.8M | $412.6M | |
| Short Term Investments | $26.1M | $222.6M | $303.1M | $358.6M | $292M | |
| Accounts Receivable, Net | $2.9M | $3.2M | $2.4M | $37.9M | $38.8M | |
| Inventory | -- | $2.2M | $16.9M | $50.1M | $46.1M | |
| Prepaid Expenses | $28.8M | $58.9M | $12.1M | $9.2M | $3.5M | |
| Other Current Assets | $371.5K | $1.6M | $522.1K | $901.3K | $775.9K | |
| Total Current Assets | $267.2M | $509.6M | $474.8M | $566.6M | $541M | |
| Property Plant And Equipment | $148.3M | $148.3M | $129.3M | $47.8M | $20.3M | |
| Long-Term Investments | -- | $3.1M | $3M | $2.8M | $2.7M | |
| Goodwill | -- | -- | -- | -- | -- | |
| Other Intangibles | -- | -- | -- | -- | -- | |
| Other Long-Term Assets | -- | $3.6M | $3.2M | $3M | $2.8M | |
| Total Assets | $426.4M | $690.1M | $616.8M | $636.6M | $578.4M | |
| Accounts Payable | $46.8M | $86.6M | $116.5M | $108.2M | $77.2M | |
| Accrued Expenses | $715K | -- | $5.2M | -- | -- | |
| Current Portion Of Long-Term Debt | -- | -- | $11.1M | -- | -- | |
| Current Portion Of Capital Lease Obligations | -- | -- | $1.4M | $1M | $176.9K | |
| Other Current Liabilities | $2.4M | $4.2M | $375.7K | $4.9M | $5.6M | |
| Total Current Liabilities | $130.8M | $161.4M | $204.7M | $209.6M | $170.5M | |
| Long-Term Debt | $30.2M | $13.6M | $4.9M | $1.1M | $724K | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $166.4M | $182.9M | $236.8M | $251.7M | $214.4M | |
| Common Stock | $786.4M | $54.4K | $49.9K | $48.9K | $47.5K | |
| Other Common Equity Adj | $33.4M | $10.7M | $26.2M | $28.1M | $30.1M | |
| Common Equity | -- | -- | -- | -- | -- | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -- | -- | -- | -- | |
| Total Equity | $260M | $507.1M | $380M | $384.8M | $363.9M | |
| Total Liabilities and Equity | $426.4M | $690.1M | $616.8M | $636.6M | $578.4M | |
| Cash and Short Terms | $217.8M | $429.2M | $439.4M | $465.8M | $412.6M | |
| Total Debt | $33.9M | $26.8M | $15.9M | $1.1M | $724K | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | $10.9M | -$19.3M | -$105.6M | $12.5M | -$1.9M | |
| Depreciation & Amoritzation | $49.8M | $61.5M | $66.7M | $38.9M | $21.9M | |
| Stock-Based Compensation | $4.3M | $4.8M | $4.2M | $2.9M | $2.7M | |
| Change in Accounts Receivable | $25.8K | -$770K | $87K | -$36.7M | -$44.2M | |
| Change in Inventories | -- | -$678.1K | -$883.8K | $43.3M | -$1.2M | |
| Cash From Operations | $77.7M | $35.2M | $105.2M | $58.8M | -$28.6M | |
| Capital Expenditures | $60.4M | $73.2M | $65.8M | $25.7M | $1.3M | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -$37.9M | -$265.8M | -$152.1M | -$84.5M | $58.3M | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | $7.6M | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | $31.8M | -- | -- | -- | -- | |
| Long-Term Debt Repaid | -$57.2M | -$3.8M | -- | -- | -- | |
| Repurchase of Common Stock | -- | $919.8K | $2.9M | $1.9M | $6.2M | |
| Other Financing Activities | $12.6M | -$14.2M | -$8.7M | -$2M | -- | |
| Cash From Financing | $94.9M | $242.4M | -$11.7M | -$3.9M | -$13.8M | |
| Beginning Cash (CF) | $55.1M | $206.6M | $138.6M | $107.4M | $120.5M | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | $134.6M | $5.1M | -$52.3M | -$28.6M | $16.4M | |
| Ending Cash (CF) | $188.9M | $205.1M | $92.5M | $79.9M | $137.3M | |
| Levered Free Cash Flow | $17.3M | -$38.1M | $39.4M | $33.1M | -$29.9M | |
| Period Ending | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -- | -- | -- | -- | -- | |
| Depreciation & Amoritzation | -- | -- | -- | -- | -- | |
| Stock-Based Compensation | -- | -- | -- | -- | -- | |
| Change in Accounts Receivable | -- | -- | -- | -- | -- | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | -- | -- | -- | -- | -- | |
| Capital Expenditures | -- | -- | -- | -- | -- | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -- | -- | -- | -- | -- | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | -- | -- | -- | -- | -- | |
| Long-Term Debt Issued | -- | -- | -- | -- | -- | |
| Long-Term Debt Repaid | -- | -- | -- | -- | -- | |
| Repurchase of Common Stock | -- | -- | -- | -- | -- | |
| Other Financing Activities | -- | -- | -- | -- | -- | |
| Cash From Financing | -- | -- | -- | -- | -- | |
| Beginning Cash (CF) | $206.6M | $138.6M | $107.4M | $120.5M | -- | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -- | -- | -- | -- | -- | |
| Ending Cash (CF) | -- | -- | -- | -- | -- | |
| Levered Free Cash Flow | -- | -- | -- | -- | -- | |
| Period Ending | 2022-01-07 | 2023-01-07 | 2024-01-07 | 2025-01-07 | ||
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -- | -- | -- | -- | -- | |
| Depreciation & Amoritzation | -- | -- | -- | -- | -- | |
| Stock-Based Compensation | -- | -- | -- | -- | -- | |
| Change in Accounts Receivable | -- | -- | -- | -- | -- | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | -- | -- | -- | -- | -- | |
| Capital Expenditures | -- | -- | -- | -- | -- | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -- | -- | -- | -- | -- | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | -- | -- | -- | -- | -- | |
| Long-Term Debt Repaid | -- | -- | -- | -- | -- | |
| Repurchase of Common Stock | -- | -- | -- | -- | -- | |
| Other Financing Activities | -- | -- | -- | -- | -- | |
| Cash From Financing | -- | -- | -- | -- | -- | |
| Beginning Cash (CF) | -- | -- | -- | -- | -- | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -- | -- | -- | -- | -- | |
| Ending Cash (CF) | -- | -- | -- | -- | -- | |
| Levered Free Cash Flow | -- | -- | -- | -- | -- | |
| Period Ending | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -- | -- | -- | -- | -- | |
| Depreciation & Amoritzation | -- | -- | -- | -- | -- | |
| Stock-Based Compensation | -- | -- | -- | -- | -- | |
| Change in Accounts Receivable | -- | -- | -- | -- | -- | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | -- | -- | -- | -- | -- | |
| Capital Expenditures | -- | -- | -- | -- | -- | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -- | -- | -- | -- | -- | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | -- | -- | -- | $30K | -- | |
| Long-Term Debt Issued | -- | -- | -- | -- | -- | |
| Long-Term Debt Repaid | -- | -- | -- | -- | -- | |
| Repurchase of Common Stock | -- | -- | -- | -- | -- | |
| Other Financing Activities | -- | -- | -- | -- | -- | |
| Cash From Financing | -- | -- | -- | -- | -- | |
| Beginning Cash (CF) | $558.2M | $508.9M | $404.3M | $403.7M | -- | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -- | -- | -- | -- | -- | |
| Ending Cash (CF) | -- | -- | -- | -- | -- | |
| Levered Free Cash Flow | -- | -- | -- | -- | -- | |
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Market Cap: $3.9T
P/E Ratio: 36x
Market Cap: $3.8T
P/E Ratio: 39x
Regencell Bioscience Holdings Ltd. [RGC] is up 22.74% over the past day.
Innodata, Inc. [INOD] is up 4.84% over the past day.
AeroVironment, Inc. [AVAV] is up 6.62% over the past day.