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 | $17.4B | $19.2B | $19.2B | $14.1B | $20.7B | |
| Revenue Growth (YoY) | 0.99% | 10.27% | 0.33% | -26.95% | 47.41% | |
| Cost of Revenues | -- | -- | -- | -- | -- | |
| Gross Profit | -- | -- | -- | -- | -- | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | -- | -- | -- | -- | |
| Selling, General & Admin | -- | -- | -- | -- | -- | |
| Other Inc / (Exp) | $699M | $815M | $765M | $938M | $821M | |
| Operating Expenses | -$686M | -$1.9B | -$2.6B | $783M | -$3.8B | |
| Operating Income | $686M | $1.9B | $2.6B | -$783M | $3.8B | |
| Net Interest Expenses | $284M | $270M | $283M | $331M | $336M | |
| EBT. Incl. Unusual Items | $423M | $1.6B | $1.7B | -$1.1B | $4B | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -$76M | $233M | $367M | -$396M | $747M | |
| Net Income to Company | $499M | $3.8B | $1.4B | -$752M | $3.3B | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | $499M | $1.4B | $1.4B | -$752M | $3.3B | |
| Basic EPS (Cont. Ops) | $2.58 | $7.50 | $7.94 | -$4.92 | $18.66 | |
| Diluted EPS (Cont. Ops) | $2.57 | $7.43 | $7.94 | -$4.92 | $18.41 | |
| Weighted Average Basic Share | $193.6M | $187.4M | $171M | $169.6M | $170.6M | |
| Weighted Average Diluted Share | $194.5M | $189.1M | $172.7M | $169.6M | $173.1M | |
| EBITDA | -- | -- | -- | -- | -- | |
| EBIT | $423M | $1.6B | $1.7B | -$1.1B | $4B | |
| Revenue (Reported) | $17.4B | $19.2B | $19.2B | $14.1B | $20.7B | |
| Operating Income (Reported) | $686M | $1.9B | $2.6B | -$783M | $3.8B | |
| Operating Income (Adjusted) | $423M | $1.6B | $1.7B | -$1.1B | $4B | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | $5.2B | $2.8B | $5.5B | $3.5B | $4.9B | |
| Revenue Growth (YoY) | -2.21% | -47.1% | 97.15% | -35.75% | 39.68% | |
| Cost of Revenues | -- | -- | -- | -- | -- | |
| Gross Profit | -- | -- | -- | -- | -- | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | -- | -- | -- | -- | |
| Selling, General & Admin | -- | -- | -- | -- | -- | |
| Other Inc / (Exp) | $190M | $199M | $233M | $165M | -- | |
| Operating Expenses | -$432M | $1.4B | -$1.1B | $615M | -$603M | |
| Operating Income | $432M | -$1.4B | $1.1B | -$615M | $603M | |
| Net Interest Expenses | $73M | $71M | $84M | $86M | $79M | |
| EBT. Incl. Unusual Items | $368M | -$2.1B | $1B | -$703M | $524M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $50M | -$350M | $181M | -$175M | $79M | |
| Net Income to Company | $318M | -$1.8B | $853M | -$528M | -- | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | $318M | -$1.8B | $853M | -$528M | $445M | |
| Basic EPS (Cont. Ops) | $1.71 | -$10.47 | $4.83 | -$3.29 | $2.15 | |
| Diluted EPS (Cont. Ops) | $1.69 | -$10.47 | $4.79 | -$3.29 | $2.12 | |
| Weighted Average Basic Share | $186.1M | $169.7M | $169.6M | $170.8M | $190.8M | |
| Weighted Average Diluted Share | $188.1M | $169.7M | $170.9M | $172.8M | $194.3M | |
| EBITDA | -- | -- | -- | -- | -- | |
| EBIT | $368M | -$2.1B | $1B | -$703M | $524M | |
| Revenue (Reported) | $5.2B | $2.8B | $5.5B | $3.5B | $4.9B | |
| Operating Income (Reported) | $432M | -$1.4B | $1.1B | -$615M | $603M | |
| Operating Income (Adjusted) | $368M | -$2.1B | $1B | -$703M | $524M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | $18.7B | $18.4B | $19.3B | $14.6B | $19.8B | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | -- | -- | -- | -- | -- | |
| Gross Profit | -- | -- | -- | -- | -- | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | -- | -- | -- | -- | |
| Selling, General & Admin | -- | -- | -- | -- | -- | |
| Other Inc / (Exp) | $776M | $780M | $883M | $896M | -- | |
| Operating Expenses | -$1.7B | -$1.8B | -$1.7B | -$118M | -$2.8B | |
| Operating Income | $1.7B | $1.8B | $1.7B | $118M | $2.8B | |
| Net Interest Expenses | $268M | $271M | $328M | $334M | $242M | |
| EBT. Incl. Unusual Items | $1.5B | $977M | $1.5B | $308M | $2.5B | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $163M | $211M | $156M | -$46M | $415M | |
| Net Income to Company | $1.3B | $3.1B | $1.3B | $353M | -- | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | $1.3B | $766M | $1.3B | $357M | $2.1B | |
| Basic EPS (Cont. Ops) | $7.02 | $4.12 | $7.19 | $1.55 | $11.42 | |
| Diluted EPS (Cont. Ops) | $6.95 | $3.95 | $7.14 | $1.41 | $11.14 | |
| Weighted Average Basic Share | ||||||
| Weighted Average Diluted Share | ||||||
| EBITDA | -- | -- | -- | -- | -- | |
| EBIT | $1.5B | $977M | $1.5B | $308M | $2.5B | |
| Revenue (Reported) | $18.7B | $18.4B | $19.3B | $14.6B | $19.8B | |
| Operating Income (Reported) | $1.7B | $1.8B | $1.7B | $118M | $2.8B | |
| Operating Income (Adjusted) | $1.5B | $977M | $1.5B | $308M | $2.5B | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Revenue | $14.6B | $13.8B | $13.8B | $14.4B | $13.4B | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | -- | -- | -- | -- | -- | |
| Gross Profit | -- | -- | -- | -- | -- | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | -- | -- | -- | -- | |
| Selling, General & Admin | -- | -- | -- | -- | -- | |
| Other Inc / (Exp) | $598M | $563M | $679M | $638M | $379M | |
| Operating Expenses | -$1.6B | -$1.5B | -$684M | -$1.6B | -$569M | |
| Operating Income | $1.6B | $1.5B | $684M | $1.6B | $569M | |
| Net Interest Expenses | $203M | $205M | $251M | $253M | $159M | |
| EBT. Incl. Unusual Items | $1.4B | $741M | $466M | $1.9B | $423M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $217M | $195M | -$17M | $332M | $1M | |
| Net Income to Company | $1.2B | $545M | $483M | $1.6B | -$23M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | $1.2B | $546M | $482M | $1.6B | $422M | |
| Basic EPS (Cont. Ops) | $6.28 | $2.90 | $2.42 | $8.89 | $1.62 | |
| Diluted EPS (Cont. Ops) | $6.21 | $2.75 | $2.37 | $8.75 | $1.51 | |
| Weighted Average Basic Share | $566.3M | $515M | $508.6M | $511.4M | $539.3M | |
| Weighted Average Diluted Share | $572M | $518.8M | $510.7M | $517.6M | $546.2M | |
| EBITDA | -- | -- | -- | -- | -- | |
| EBIT | $1.4B | $741M | $466M | $1.9B | $423M | |
| Revenue (Reported) | $14.6B | $13.8B | $13.8B | $14.4B | $13.4B | |
| Operating Income (Reported) | $1.6B | $1.5B | $684M | $1.6B | $569M | |
| Operating Income (Adjusted) | $1.4B | $741M | $466M | $1.9B | $423M | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | $1.7B | $2.6B | $3.3B | $3.4B | $5.8B | |
| Short Term Investments | $123B | $118.7B | $99.7B | $88.7B | $20.9B | |
| Accounts Receivable, Net | $17B | $20.3B | $20B | $29.8B | $28.8B | |
| Inventory | -- | -- | -- | -- | -- | |
| Prepaid Expenses | -- | -- | -- | -- | -- | |
| Other Current Assets | -- | -- | -- | -- | -- | |
| Total Current Assets | $6.8B | $7.4B | $4.6B | $4.4B | $10.4B | |
| Property Plant And Equipment | $182M | $147M | $140M | $118M | $85M | |
| Long-Term Investments | $7.1B | $9.7B | $7.3B | $11.5B | $16.3B | |
| Goodwill | $1.8B | $1.8B | $1.1B | $1.1B | $1.1B | |
| Other Intangibles | -- | -- | -- | -- | -- | |
| Other Long-Term Assets | -- | -- | -- | -- | -- | |
| Total Assets | $352.4B | $371.3B | $316.7B | $346B | $366.5B | |
| Accounts Payable | -- | -- | -- | -- | -- | |
| Accrued Expenses | -- | -- | -- | -- | -- | |
| Current Portion Of Long-Term Debt | $250M | $550M | $500M | $250M | $300M | |
| Current Portion Of Capital Lease Obligations | -- | -- | -- | -- | -- | |
| Other Current Liabilities | -- | -- | -- | -- | -- | |
| Total Current Liabilities | -$10.1B | -$10.9B | -$12.7B | -$21.4B | -$18.3B | |
| Long-Term Debt | $6.9B | $6.5B | $6.1B | $5.8B | $5.9B | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $329.7B | $351B | $311.6B | $339.1B | $358.2B | |
| Common Stock | $5.1B | $4.7B | $4.5B | $4.6B | $4.7B | |
| Other Common Equity Adj | $8.9B | $6.4B | -$6.4B | -$3.5B | -$5B | |
| Common Equity | $22.7B | $20.3B | $4.1B | $5.9B | $7.3B | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -- | -- | -- | -- | |
| Total Equity | $22.7B | $20.3B | $5.1B | $6.9B | $8.3B | |
| Total Liabilities and Equity | $352.4B | $371.3B | $316.7B | $346B | $366.5B | |
| Cash and Short Terms | $124.8B | $121.3B | $103.1B | $92.1B | $26.7B | |
| Total Debt | $6.9B | $6.8B | $6.6B | $6.1B | $6.2B | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | $2.6B | $1.5B | $2.5B | $6B | $10.7B | |
| Short Term Investments | $122.1B | $97.6B | $19.9B | $21.7B | -- | |
| Accounts Receivable, Net | $16.3B | $20.6B | $18.4B | $29.2B | -- | |
| Inventory | -- | -- | -- | -- | -- | |
| Prepaid Expenses | -- | -- | -- | -- | -- | |
| Other Current Assets | -- | -- | -- | -- | -- | |
| Total Current Assets | $7.6B | $6.4B | $7.8B | $11.9B | $16.1B | |
| Property Plant And Equipment | -- | -- | -- | -- | -- | |
| Long-Term Investments | -- | -- | -- | -- | -- | |
| Goodwill | $1.8B | $1.1B | $1.1B | $1.1B | -- | |
| Other Intangibles | -- | -- | -- | -- | -- | |
| Other Long-Term Assets | -- | -- | -- | -- | -- | |
| Total Assets | $361.3B | $304.6B | $320B | $367.6B | $386.6B | |
| Accounts Payable | -- | -- | -- | -- | -- | |
| Accrued Expenses | -- | -- | -- | -- | -- | |
| Current Portion Of Long-Term Debt | $300M | $500M | -- | -- | -- | |
| Current Portion Of Capital Lease Obligations | -- | -- | -- | -- | -- | |
| Other Current Liabilities | -- | -- | -- | -- | -- | |
| Total Current Liabilities | -$7.1B | -$12.7B | -$10.3B | -$18.4B | -$17.5B | |
| Long-Term Debt | $6.3B | $6B | $5.9B | $5.9B | $5.8B | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $340.2B | $302.4B | $316.8B | $358.6B | $376.2B | |
| Common Stock | $5B | $4.5B | $4.6B | $4.7B | $5.6B | |
| Other Common Equity Adj | $6.8B | -$8.6B | -$8.5B | -$2.7B | -- | |
| Common Equity | -- | -- | -- | -- | -- | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -- | -- | -- | -- | |
| Total Equity | $21.2B | $2.2B | $3.2B | $9B | $10.5B | |
| Total Liabilities and Equity | $361.3B | $304.6B | $320B | $367.6B | $386.6B | |
| Cash and Short Terms | $124.7B | $99B | $22.5B | $27.7B | -- | |
| Total Debt | $6.6B | $6.5B | $5.9B | $6.2B | $5.8B | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | $499M | $3.8B | $1.4B | -$752M | $3.3B | |
| Depreciation & Amoritzation | -- | -- | -- | -- | -- | |
| Stock-Based Compensation | -- | -- | -- | -- | -- | |
| Change in Accounts Receivable | -$21M | -- | -- | -- | -- | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | $534M | $143M | $3.6B | -$2.1B | -$2B | |
| Capital Expenditures | -- | -- | -- | -- | -- | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -$9.5B | -$3.6B | -$11.6B | -$3.3B | $821M | |
| Dividends Paid (Ex Special Dividend) | $311M | $319M | $310M | $387M | $398M | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | $1.4B | $159M | $482M | $86M | $399M | |
| Long-Term Debt Repaid | -$1.1B | -$59M | -$370M | -$628M | -$254M | |
| Repurchase of Common Stock | $282M | $1.1B | $550M | -- | -- | |
| Other Financing Activities | $8.4B | $6B | $8.5B | $6.4B | $3.9B | |
| Cash From Financing | $8.1B | $4.3B | $8.8B | $5.4B | $3.6B | |
| Beginning Cash (CF) | $1.7B | $2.6B | $3.3B | $3.4B | $5.8B | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -$855M | $904M | $731M | $22M | $2.4B | |
| Ending Cash (CF) | $853M | $3.5B | $4.1B | $3.4B | $8.2B | |
| Levered Free Cash Flow | $534M | $143M | $3.6B | -$2.1B | -$2B | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | $318M | -$1.8B | $853M | -$528M | -- | |
| Depreciation & Amoritzation | -- | -- | -- | -- | -- | |
| Stock-Based Compensation | -- | -- | -- | -- | -- | |
| Change in Accounts Receivable | -$1M | -- | -- | -- | -- | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | $331M | $650M | $46M | -$27M | -$1.1B | |
| Capital Expenditures | -- | -- | -- | -- | -- | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -$918M | -$3.1B | -$1.4B | -$702M | $2.2B | |
| Dividends Paid (Ex Special Dividend) | $80M | $77M | $111M | $111M | $120M | |
| Special Dividend Paid | -- | -- | -- | -- | -- | |
| Long-Term Debt Issued | -- | -$1M | $65M | $53M | -- | |
| Long-Term Debt Repaid | -- | -$5M | -$540M | -$107M | -- | |
| Repurchase of Common Stock | $200M | $50M | -- | -$2M | -- | |
| Other Financing Activities | $1.1B | $2.5B | $739M | $1.4B | -- | |
| Cash From Financing | $812M | $2.4B | $153M | $1.3B | $2.5B | |
| Beginning Cash (CF) | $2.6B | $1.5B | $2.5B | $6B | $10.7B | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | $225M | -$95M | -$1.2B | $538M | $3.5B | |
| Ending Cash (CF) | $2.8B | $1.4B | $1.3B | $6.6B | $14.2B | |
| Levered Free Cash Flow | $331M | $650M | $46M | -$27M | -$1.1B | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | $1.3B | $3.1B | $1.3B | $353M | -- | |
| Depreciation & Amoritzation | -- | -- | -- | -- | -- | |
| Stock-Based Compensation | -- | -- | -- | -- | -- | |
| Change in Accounts Receivable | -$86M | -- | -- | -- | -- | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | $293M | $3.1B | $388M | -$4.1B | -$178M | |
| Capital Expenditures | -- | -- | -- | -- | -- | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -$5.5B | -$11B | -$4.4B | $824M | -$817M | |
| Dividends Paid (Ex Special Dividend) | $319M | $312M | $376M | $397M | $407M | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | $90M | $458M | $198M | $420M | -- | |
| Long-Term Debt Repaid | -$47M | -$411M | -$616M | -$245M | -- | |
| Repurchase of Common Stock | $501M | $1.2B | $6M | $4M | $4M | |
| Other Financing Activities | $6B | $8.7B | $4.9B | $7B | -- | |
| Cash From Financing | $5.2B | $6.8B | $5.1B | $6.8B | $5.7B | |
| Beginning Cash (CF) | -- | -- | -- | -- | -- | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | $19M | -$1.1B | $1.1B | $3.5B | $4.7B | |
| Ending Cash (CF) | -- | -- | -- | -- | -- | |
| Levered Free Cash Flow | $293M | $3.1B | $388M | -$4.1B | -$178M | |
| Period Ending | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | $1.2B | $545M | $483M | $1.6B | -$23M | |
| Depreciation & Amoritzation | -- | -- | -- | -- | -- | |
| Stock-Based Compensation | -- | -- | -- | -- | -- | |
| Change in Accounts Receivable | -$98M | -- | -- | -- | -- | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | $100M | $3B | -$206M | -$2.2B | -$400M | |
| Capital Expenditures | -- | -- | -- | -- | -- | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -$2.4B | -$9.9B | -$2.6B | $1.5B | -$100M | |
| Dividends Paid (Ex Special Dividend) | $241M | $234M | $300M | $310M | $319M | |
| Special Dividend Paid | -- | -- | -- | -- | -- | |
| Long-Term Debt Issued | $50M | $349M | $65M | $399M | $33M | |
| Long-Term Debt Repaid | -- | -$352M | -$598M | -$215M | -$725M | |
| Repurchase of Common Stock | $455M | $550M | $6M | $4M | $4M | |
| Other Financing Activities | $3.9B | $6.5B | $2.9B | $3.5B | $3B | |
| Cash From Financing | $3.2B | $5.7B | $2B | $3.3B | $5.4B | |
| Beginning Cash (CF) | $6.4B | $5B | $10.1B | $15.6B | $22.1B | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | $906M | -$1.1B | -$814M | $2.6B | $4.9B | |
| Ending Cash (CF) | $7.3B | $3.9B | $9.2B | $18.3B | $27B | |
| Levered Free Cash Flow | $100M | $3B | -$206M | -$2.2B | -$400M | |
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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.