AVGO
Broadcom Inc.
AVGO has the edge over SHOP overall, supported by stronger fundamentals and stronger modeled upside.
SHOP
Shopify Inc.
SHOP's outlook is improving, though it still trails on the overall score.
AVGO Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AVGO's revenue, profitability, cash flow and balance sheet are all currently strong.
SHOP Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
SHOP's revenue, profitability, cash flow and balance sheet are all currently healthy.
AVGO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $364 | — |
| Cheap | 27x | $211 | -42% |
| Current | 46x | $364 | — |
| Fair | 49x | $384 | +5.3% |
| Expensive | 86x | $671 | +84% |
Historical ranges are pointers, not guarantees.
AVGO has the edge over SHOP in the historical PE scenario, which offers more potential upside but is not a forecast.
SHOP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 67x | $147 | — |
| Cheap | 78x | $129 | -12% |
| Current | 89x | $147 | — |
| Fair | 107x | $177 | +21% |
| Expensive | 338x | $557 | +280% |
Historical ranges are pointers, not guarantees.
SHOP's PE is in its cheap range at 89x. If earnings grow as analysts expect, today's price would be 67x next year's earnings.
AVGO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Broad | |
| Moderate |
Analysts expect strong earnings and revenue growth for AVGO, with profitability holding steady.
SHOP Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Moderate | |
| Low |
Analysts expect strong earnings and revenue growth for SHOP, with profitability holding steady. However, they disagree widely on these estimates.
AVGO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $19.23 | +145% |
| Q3 2026 | $7.84 | +100% |
| Q2 2026 | $6.01 | +125% |
| Q1 2026 | $5.13 | +145% |
| Q4 2025 | $4.77 | +288% |
| Q3 2025 | $3.92 | +241% |
| Q2 2025 | $2.67 | +15% |
| Q1 2025 | $2.09 | -23% |
| Q4 2024 | $1.23 | -63% |
AVGO has the edge over SHOP on earnings, with more consistent year-over-year improvement.
SHOP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.20 | +33% |
| Q3 2026 | $1.65 | +21% |
| Q2 2026 | $1.49 | -17% |
| Q1 2026 | $1.02 | -18% |
| Q4 2025 | $0.94 | -40% |
| Q3 2025 | $1.36 | +27% |
| Q2 2025 | $1.80 | +84% |
| Q1 2025 | $1.24 | +$1.41 |
| Q4 2024 | $1.56 | +1633% |
SHOP's earnings per share have fallen from their peak: $1.65 over the past year, against $2.68 in late 2021.
AVGO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $29.6B | +86% |
| Q2 2026 | $22.2B | +48% |
| Q1 2026 | $19.3B | +29% |
| Q4 2025 | $18B | +28% |
| Q3 2025 | $16B | +22% |
| Q2 2025 | $15B | +20% |
| Q1 2025 | $14.9B | +25% |
| Q4 2024 | $14.1B | +51% |
AVGO's revenue has grown year over year every quarter since late 2020: $29.6B last quarter, up 86% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 54% | +17 points |
| Q2 2026 | 49% | +9.8 points |
| Q1 2026 | 44% | +2.4 points |
| Q4 2025 | 42% | +8.8 points |
| Q3 2025 | 37% | +7.9 points |
| Q2 2025 | 39% | +15 points |
| Q1 2025 | 42% | +25 points |
| Q4 2024 | 33% | -13 points |
AVGO has the edge over SHOP on profitability, with a higher operating margin.
SHOP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.7B | +32% |
| Q2 2026 | $3.6B | +34% |
| Q1 2026 | $3.2B | +34% |
| Q4 2025 | $3.7B | +31% |
| Q3 2025 | $2.8B | +32% |
| Q2 2025 | $2.7B | +31% |
| Q1 2025 | $2.4B | +27% |
| Q4 2024 | $2.8B | +31% |
SHOP has the edge over AVGO on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +3.1 points |
| Q2 2026 | 14% | +2.8 points |
| Q1 2026 | 12% | +3.5 points |
| Q4 2025 | 17% | +0.6 points |
| Q3 2025 | 12% | -1 points |
| Q2 2025 | 11% | -0.9 points |
| Q1 2025 | 8.6% | +4 points |
| Q4 2024 | 17% | +3.1 points |
SHOP's operating margin was 15% last quarter, up 3.1 points from the same quarter a year ago.
AVGO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $13.7B | +95% |
| Q2 2026 | $10.3B | +60% |
| Q1 2026 | $8B | +33% |
| Q4 2025 | $7.5B | +36% |
| Q3 2025 | $7B | +47% |
| Q2 2025 | $6.4B | +44% |
| Q1 2025 | $6B | +28% |
| Q4 2024 | $5.5B | +16% |
AVGO has the edge over SHOP on cash flow, with stronger typical year-over-year growth.
SHOP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $816M | +61% |
| Q2 2026 | $654M | +55% |
| Q1 2026 | $476M | +31% |
| Q4 2025 | $715M | +17% |
| Q3 2025 | $507M | +20% |
| Q2 2025 | $422M | +27% |
| Q1 2025 | $363M | +56% |
| Q4 2024 | $611M | +37% |
SHOP generated $2.7B in free cash flow over the past year, up 40% from the year before.
AVGO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +11M shares |
| 1 year | +0.6% | +27M shares |
| 3 years | +14% | +617M shares |
| 5 years | +14% | +597M shares |
| Available history | +17% | +697M shares |
AVGO has 4.9B diluted shares, up 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $600M |
| Q1 2026 | $7.9B |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.5B |
| Q1 2025 | — |
| Q4 2024 | — |
AVGO spent $8.4B buying back its own shares over the past year, about three times what it spent the year before.
SHOP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -7.2M shares |
| 1 year | -1.7% | -22.1M shares |
| 3 years | -0.4% | -5.1M shares |
| 5 years | +1.1% | +14.5M shares |
| Available history | +11% | +130M shares |
SHOP has the edge over AVGO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $562M |
| Q2 2026 | $1.4B |
| Q1 2026 | $491M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
AVGO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 1.2x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 1.9x | Healthy |
| Q3 2025 | 2.3x | Moderate |
| Q2 2025 | 2.7x | Moderate |
| Q1 2025 | 3.1x | Elevated |
| Q4 2024 | 4.1x | High |
AVGO's net debt is less than a year of its operating earnings (EBITDA), down from 2.3 years a year ago.
SHOP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.9x | Net Cash |
| Q2 2026 | -0.9x | Net Cash |
| Q1 2026 | -1.1x | Net Cash |
| Q4 2025 | -1.0x | Net Cash |
| Q3 2025 | -1.7x | Net Cash |
| Q2 2025 | -1.1x | Net Cash |
| Q1 2025 | -0.9x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
SHOP has the edge over AVGO on leverage, with a lower net debt burden relative to earnings.
AVGO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.3 | Neutral |
| Stochastic | 20.3 | Neutral |
AVGO's weekly RSI is 51 (neutral) and its Stochastic is 20 (neutral).
SHOP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.4 | Neutral |
| Stochastic | 51.5 | Neutral |
SHOP's weekly RSI is 52 (neutral) and its Stochastic is 52 (neutral).
AVGO PE vs Technology Sector
| Metric | AVGO | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 28x | 67% above |
| PE % | 47 | 35 | 12 pts above |
AVGO has the edge over SHOP on valuation relative to its sector.
SHOP PE vs Technology Sector
| Metric | SHOP | Sector median | Relative |
|---|---|---|---|
| PE | 89x | 28x | 219% above |
| PE % | 29 | 35 | 6 pts below |
SHOP is trading at 89x earnings, a 219% premium to the Technology sector's median of 28x.
AVGO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $338.0 | 7.8% above |
| 20 week MA | $362.1 | 0.6% above |
| 50 week MA | $363.0 | 0.4% above |
| 100 week MA | $313.8 | 16% above |
| 200 week MA | $214.3 | 70% above |
AVGO has the edge over SHOP on trend strength, trading above more of its moving averages.
SHOP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $157.0 | 6.5% below |
| 20 week MA | $143.1 | 2.5% above |
| 50 week MA | $134.4 | 9.2% above |
| 100 week MA | $128.1 | 15% above |
| 200 week MA | $97.7 | 50% above |
SHOP's trend is up, with a small recent dip: it's below only its 8-week average, and 50% above its 200-week average.
AVGO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $31.7 | $43.2 | +36% |
| 2021 | $43.2 | $66.5 | +54% |
| 2022 | $66.5 | $55.2 | -17% |
| 2023 | $55.2 | $111.6 | +102% |
| 2024 | $111.6 | $241.8 | +117% |
| 2025 | $241.8 | $352.1 | +46% |
| 2026 YTD | $352.1 | $364.4 | +3.5% |
AVGO has the edge over SHOP on returns for 2026, with the stronger performance.
SHOP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $40.8 | $122.6 | +200% |
| 2021 | $122.6 | $143.9 | +17% |
| 2022 | $143.9 | $33.7 | -77% |
| 2023 | $33.7 | $77.9 | +131% |
| 2024 | $77.9 | $108.2 | +39% |
| 2025 | $108.2 | $170.8 | +58% |
| 2026 YTD | $170.8 | $146.8 | -14% |
SHOP's yearly returns have swung widely, from +200% in 2020 to −77% in 2022. It's down 14% so far in 2026.