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QUALCOMM Incorporated (QCOM) 10-Year Financial Performance & Capital Metrics

QCOM • • Industrial / General
TechnologySemiconductorsConnectivity & Communication SemiconductorsWireless Connectivity
AboutQUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products. The QTL segment grants licenses or provides rights to use portions of its intellectual property portfolio, which include various patent rights useful in the manufacture and sale of wireless products comprising products implementing CDMA2000, WCDMA,LTE and/or OFDMA-based 5G standards and their derivatives. The QSI segment invests in early-stage companies in various industries, including 5G, artificial intelligence, automotive, consumer, enterprise, cloud, and IoT, and investment for supporting the design and introduction of new products and services for voice and data communications, new industries, and applications. It also provides development, and other services and related products to the United States government agencies and their contractors. QUALCOMM Incorporated was incorpotared in 1985 and is headquartered in San Diego, California.Show more
  • Revenue $44.28B +13.7%
  • EBITDA $13.96B +18.5%
  • Net Income $5.54B -45.4%
  • EPS (Diluted) 5.01 -44.2%
  • Gross Margin 55.43% -1.4%
  • EBITDA Margin 31.52% +4.3%
  • Operating Margin 27.9% +7.9%
  • Net Margin 12.51% -51.9%
  • ROE 23.34% -44.9%
  • ROIC 28.79% +20.2%
  • Debt/Equity 0.70 +18.9%
  • Interest Coverage 18.61 +28.8%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 34.1%
  • ✓FCF machine: 28.9% free cash flow margin
  • ✓23 consecutive years of dividend growth
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 13.5%
  • ✓Healthy dividend yield of 2.1%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.77%
5Y13.48%
3Y0.06%
TTM13.66%

Profit (Net Income) CAGR

10Y0.5%
5Y1.29%
3Y-24.62%
TTM-45.37%

EPS CAGR

10Y4.52%
5Y2.08%
3Y-23.93%
TTM-44.21%

ROCE

10Y Avg23.42%
5Y Avg30.93%
3Y Avg24.03%
Latest28.85%

Peer Comparison

Wireless Connectivity
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
QRVOQorvo, Inc.7.42B80.29138.43-1.34%5.95%6.21%6.53%0.46
QCOMQUALCOMM Incorporated177.03B165.2932.9913.66%12.51%26.13%7.24%0.70
NXPINXP Semiconductors N.V.60.17B239.0924.57-4.99%17.11%19.77%3.42%1.14
SWKSSkyworks Solutions, Inc.8.77B58.5018.99-2.18%11.67%8.29%12.61%0.21
SQNSSequans Communications S.A.85.6M5.490.289.56%-79.37%-11.09%0.30
PRSOPeraso Inc.9.4M1.01-0.285.99%-39%-140.79%0.09
MOBXMobix Labs, Inc.22.63M0.24-0.41426.31%-381.82%-98.68%0.88
GCTSGCT Semiconductor Holding, Inc.66.24M1.16-4.30-43.05%-10.1%

Profit & Loss

Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Sales/Revenue+23.55B22.29B22.73B24.27B23.53B33.57B44.2B35.82B38.96B44.28B
Revenue Growth %-0.07%-0.05%0.02%0.07%-0.03%0.43%0.32%-0.19%0.09%0.14%
Cost of Goods Sold+9.75B9.79B10.24B8.6B9.26B14.26B18.64B15.87B17.06B19.74B
COGS % of Revenue0.41%0.44%0.45%0.35%0.39%0.42%0.42%0.44%0.44%0.45%
Gross Profit+13.8B12.5B12.49B15.67B14.28B19.3B25.57B19.95B21.9B24.55B
Gross Margin %0.59%0.56%0.55%0.65%0.61%0.58%0.58%0.56%0.56%0.55%
Gross Profit Growth %-0.07%-0.09%-0%0.26%-0.09%0.35%0.32%-0.22%0.1%0.12%
Operating Expenses+7.31B9.88B11.75B8.01B8.02B9.52B9.71B12.16B11.83B12.19B
OpEx % of Revenue0.31%0.44%0.52%0.33%0.34%0.28%0.22%0.34%0.3%0.28%
Selling, General & Admin2.38B2.66B2.99B2.19B2.07B2.34B2.57B2.48B2.76B3.11B
SG&A % of Revenue0.1%0.12%0.13%0.09%0.09%0.07%0.06%0.07%0.07%0.07%
Research & Development5.15B5.49B5.63B5.4B5.97B7.18B8.19B8.82B8.89B9.04B
R&D % of Revenue0.22%0.25%0.25%0.22%0.25%0.21%0.19%0.25%0.23%0.2%
Other Operating Expenses-226M1.74B3.13B414M-28M0-1.06B862M179M39M
Operating Income+6.5B2.58B621M7.67B6.25B9.79B15.86B7.79B10.07B12.36B
Operating Margin %0.28%0.12%0.03%0.32%0.27%0.29%0.36%0.22%0.26%0.28%
Operating Income Growth %0.12%-0.6%-0.76%11.35%-0.18%0.56%0.62%-0.51%0.29%0.23%
EBITDA+7.92B4.04B2.18B9.07B7.65B11.37B17.62B9.6B11.78B13.96B
EBITDA Margin %0.34%0.18%0.1%0.37%0.33%0.34%0.4%0.27%0.3%0.32%
EBITDA Growth %0.13%-0.49%-0.46%3.16%-0.16%0.49%0.55%-0.46%0.23%0.19%
D&A (Non-Cash Add-back)1.43B1.46B1.56B1.4B1.39B1.58B1.76B1.81B1.71B1.6B
EBIT6.81B3.51B3.77B8.08B6.23B9.79B15.49B8.14B11.03B13.33B
Net Interest Income+314M125M-157M-327M-446M-476M-399M-381M-22M-25M
Interest Income611M619M611M300M156M83M91M313M675M639M
Interest Expense297M494M768M627M602M559M490M694M697M664M
Other Income/Expense338M439M-229M-186M-536M485M-862M-345M265M308M
Pretax Income+6.83B3.02B513M7.48B5.72B10.27B15B7.44B10.34B12.66B
Pretax Margin %0.29%0.14%0.02%0.31%0.24%0.31%0.34%0.21%0.27%0.29%
Income Tax+1.13B555M5.38B3.1B521M1.23B2.01B104M226M7.12B
Effective Tax Rate %0.83%0.82%-9.68%0.59%0.91%0.88%0.86%0.97%0.98%0.44%
Net Income+5.71B2.47B-4.96B4.39B5.2B9.04B12.94B7.23B10.14B5.54B
Net Margin %0.24%0.11%-0.22%0.18%0.22%0.27%0.29%0.2%0.26%0.13%
Net Income Growth %0.08%-0.57%-3.01%1.88%0.19%0.74%0.43%-0.44%0.4%-0.45%
Net Income (Continuing)5.7B2.44B-4.96B4.39B5.2B9.04B12.99B7.34B10.11B5.54B
Discontinued Operations000000-50M-107M00
Minority Interest-10M000000000
EPS (Diluted)+3.811.64-3.323.604.527.8711.386.428.985.01
EPS Growth %0.18%-0.57%-3.02%2.08%0.26%0.74%0.45%-0.44%0.4%-0.44%
EPS (Basic)3.841.66-3.323.624.588.0011.526.479.095.06
Diluted Shares Outstanding1.5B1.49B1.46B1.22B1.15B1.15B1.14B1.13B1.13B1.1B
Basic Shares Outstanding1.48B1.48B1.46B1.21B1.14B1.13B1.12B1.12B1.12B1.1B
Dividend Payout Ratio0.52%1.32%-0.68%0.55%0.33%0.25%0.48%0.36%0.69%

Balance Sheet

Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Total Current Assets+22.98B43.59B17.38B16.77B18.52B20.07B20.72B22.46B25.23B25.75B
Cash & Short-Term Investments18.65B37.31B12.09B12.26B11.21B12.41B6.38B11.32B13.3B10.15B
Cash Only5.95B35.03B11.78B11.84B6.71B7.12B2.77B8.45B7.85B5.52B
Short-Term Investments12.7B2.28B311M421M4.51B5.3B3.61B2.87B5.45B4.63B
Accounts Receivable2.22B3.63B2.9B2.47B4B3.58B5.64B3.18B3.93B4.32B
Days Sales Outstanding34.3959.4746.6337.1662.0938.9246.632.4336.8135.57
Inventory1.56B2.04B1.69B1.4B2.6B3.23B7.04B6.42B6.42B6.53B
Days Inventory Outstanding58.2675.8660.3259.43102.4682.61137.93147.71137.42120.68
Other Current Assets558M618M699M634M704M854M1.66B1.53B1.58B4.76B
Total Non-Current Assets+29.38B21.89B15.3B16.19B17.07B21.16B28.29B28.58B29.92B24.39B
Property, Plant & Equipment2.31B3.22B2.98B3.08B3.71B4.56B5.17B5.04B4.67B4.69B
Fixed Asset Turnover10.21x6.93x7.64x7.88x6.34x7.36x8.55x7.10x8.35x9.44x
Goodwill5.68B6.62B6.5B6.28B6.32B7.25B10.51B10.64B10.8B11.36B
Intangible Assets3.5B3.74B2.96B2.17B1.65B1.46B1.88B1.41B1.24B1.15B
Long-Term Investments13.7B1.27B35M0000000
Other Non-Current Assets2.16B4.15B1.94B3.46B4.04B6.31B8.93B8.17B8.05B6.45B
Total Assets+52.36B65.49B32.69B32.96B35.59B41.24B49.01B51.04B55.15B50.14B
Asset Turnover0.45x0.34x0.70x0.74x0.66x0.81x0.90x0.70x0.71x0.88x
Asset Growth %0.03%0.25%-0.5%0.01%0.08%0.16%0.19%0.04%0.08%-0.09%
Total Current Liabilities+7.31B10.91B11.24B8.94B8.67B11.95B11.87B9.63B10.5B9.14B
Accounts Payable1.86B1.97B1.82B1.37B2.25B2.75B3.8B1.91B2.58B2.79B
Days Payables Outstanding69.5673.4765.0358.0788.6670.3874.3543.9855.2851.61
Short-Term Debt1.75B2.5B1B2.5B500M2.04B1.95B1.01B1.36B0
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities2.26B4.76B6.83B3.46B2.27B3.84B3.33B2.62B5.08B6B
Current Ratio3.14x4.00x1.55x1.88x2.14x1.68x1.75x2.33x2.40x2.82x
Quick Ratio2.93x3.81x1.40x1.72x1.84x1.41x1.15x1.67x1.79x2.10x
Cash Conversion Cycle23.0861.8641.9338.5275.951.15110.18136.17118.94104.63
Total Non-Current Liabilities+13.28B23.83B20.52B19.11B20.84B19.34B19.14B19.83B18.38B19.79B
Long-Term Debt10.01B19.4B15.37B13.44B15.23B13.7B13.54B14.48B13.27B14.81B
Capital Lease Obligations00000428M573M571M708M0
Deferred Tax Liabilities0000002.27B2.41B2.61B0
Other Non-Current Liabilities895M2.43B3.54B4.52B4.86B4.85B2.61B2.27B1.7B4.91B
Total Liabilities20.59B34.74B31.76B28.05B29.52B31.29B31B29.46B28.88B28.94B
Total Debt+11.76B21.89B16.37B15.93B15.73B16.3B16.16B16.07B15.44B14.81B
Net Debt5.81B-13.14B4.59B4.09B9.02B9.18B13.39B7.62B7.59B9.29B
Debt / Equity0.37x0.71x17.64x3.25x2.59x1.64x0.90x0.74x0.59x0.70x
Debt / EBITDA1.48x5.42x7.50x1.76x2.06x1.43x0.92x1.67x1.31x1.06x
Net Debt / EBITDA0.73x-3.25x2.10x0.45x1.18x0.81x0.76x0.79x0.64x0.67x
Interest Coverage21.87x5.22x0.81x12.23x10.39x17.51x32.37x11.22x14.45x18.61x
Total Equity+31.77B30.75B928M4.91B6.08B9.95B18.01B21.58B26.27B21.21B
Equity Growth %0.01%-0.03%-0.97%4.29%0.24%0.64%0.81%0.2%0.22%-0.19%
Book Value per Share21.2120.630.634.025.298.6615.8419.1723.2519.19
Total Shareholders' Equity31.78B30.75B928M4.91B6.08B9.95B18.01B21.58B26.27B21.21B
Common Stock414M274M0343M586M0195M490M00
Retained Earnings30.94B30.09B663M4.47B5.28B9.82B17.84B20.73B25.69B20.65B
Treasury Stock0000000000
Accumulated OCI428M384M265M100M207M128M-22M358M587M560M
Minority Interest-10M000000000

Cash Flow

Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Cash from Operations+7.4B4.69B3.9B7.29B5.81B10.54B9.1B11.3B12.2B14.01B
Operating CF Margin %0.31%0.21%0.17%0.3%0.25%0.31%0.21%0.32%0.31%0.32%
Operating CF Growth %0.34%-0.37%-0.17%0.87%-0.2%0.81%-0.14%0.24%0.08%0.15%
Net Income5.7B2.46B-4.86B4.39B5.2B9.04B12.99B7.34B10.11B5.54B
Depreciation & Amortization1.43B1.46B1.56B1.4B1.39B1.58B1.76B1.81B1.71B1.6B
Stock-Based Compensation943M914M883M1.04B1.21B1.66B2.03B2.48B2.65B2.78B
Deferred Taxes-200M-400M4.5B1.98B-309M-245M-138M-1.27B-3.06B0
Other Non-Cash Items-320M-171M353M-290M-73M-1.05B255M-212M-421M3.67B
Working Capital Changes-153M424M1.46B-1.22B-1.61B-461M-7.8B1.15B1.22B414M
Change in Receivables-232M-1.1B734M1.37B-1.53B426M-2.07B2.47B-768M-365M
Change in Inventory-49M-200M337M273M-1.16B-622M-3.14B8M13M-138M
Change in Payables541M-45M-94M-443M907M495M1.04B-1.88B682M119M
Cash from Investing+-3.49B18.46B4.38B-806M-5.26B-3.36B-5.8B762M-3.62B-800M
Capital Expenditures-539M-690M-784M-887M-1.41B-1.89B-2.26B-1.45B-1.04B-1.19B
CapEx % of Revenue0.02%0.03%0.03%0.04%0.06%0.06%0.05%0.04%0.03%0.03%
Acquisitions----------
Investments----------
Other Investing440M-1.95B2.02B-761M43M-59M30M1.53B-24M455M
Cash from Financing+-5.52B5.88B-31.49B-6.39B-5.71B-6.8B-7.2B-6.66B-9.27B-13.2B
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-2.99B-3.25B-3.47B-2.97B-2.88B-3.01B-3.21B-3.46B-3.69B-3.81B
Share Repurchases----------
Other Financing866M-226M-548M-1.54B-475M-772M-796M357M-930M-1.13B
Net Change in Cash----------
Free Cash Flow+6.86B4B3.11B6.4B4.41B8.65B6.83B9.85B11.16B12.82B
FCF Margin %0.29%0.18%0.14%0.26%0.19%0.26%0.15%0.27%0.29%0.29%
FCF Growth %0.52%-0.42%-0.22%1.06%-0.31%0.96%-0.21%0.44%0.13%0.15%
FCF per Share4.582.692.135.253.847.536.018.759.8811.60
FCF Conversion (FCF/Net Income)1.30x1.90x-0.78x1.66x1.12x1.17x0.70x1.56x1.20x2.53x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)18.06%7.89%-31.34%150.28%94.63%112.85%92.52%36.53%42.39%23.34%
Return on Invested Capital (ROIC)13.46%7.02%4.03%79.18%38.93%42.9%47.08%19.28%23.95%28.79%
Gross Margin58.61%56.07%54.94%64.57%60.67%57.51%57.84%55.7%56.21%55.43%
Net Margin24.22%11.06%-21.84%18.07%22.09%26.94%29.27%20.19%26.03%12.51%
Debt / Equity0.37x0.71x17.64x3.25x2.59x1.64x0.90x0.74x0.59x0.70x
Interest Coverage21.87x5.22x0.81x12.23x10.39x17.51x32.37x11.22x14.45x18.61x
FCF Conversion1.30x1.90x-0.78x1.66x1.12x1.17x0.70x1.56x1.20x2.53x
Revenue Growth-6.83%-5.36%1.98%6.78%-3.06%42.65%31.68%-18.96%8.77%13.66%

Revenue by Segment

2016201720182019202020212022202320242025
QCT15.41B16.48B17.28B14.64B16.49B27.02B37.68B30.38B33.2B38.37B
QCT Growth-6.94%4.87%-15.29%12.66%63.82%39.45%-19.36%9.26%15.58%
QTL7.66B6.45B5.16B4.59B5.03B6.32B6.36B5.31B5.57B5.58B
QTL Growth--15.91%-19.89%-11.08%9.52%25.70%0.60%-16.55%5.01%0.18%
QSI47M113M100M152M36M45M31M28M18M-
QSI Growth-140.43%-11.50%52.00%-76.32%25.00%-31.11%-9.68%-35.71%-
Others438M311M287M168M133M128M134M144M--
Others Growth--29.00%-7.72%-41.46%-20.83%-3.76%4.69%7.46%--

Revenue by Geography

2016201720182019202020212022202320242025
CHINA13.5B14.58B15.15B11.61B14B22.51B28.12B22.38B--
CHINA Growth-7.97%3.91%-23.36%20.59%60.79%24.91%-20.40%--
VIET NAM------6.06B4.55B--
VIET NAM Growth--------24.94%--
Other Foreign2.9B3.66B3.81B4.53B4.57B6.12B5.37B4.36B--
Other Foreign Growth-26.20%3.93%19.11%0.84%33.92%-12.22%-18.91%--
KOREA, REPUBLIC OF3.92B3.54B3.17B2.4B2.96B2.37B3.16B3.27B--
KOREA, REPUBLIC OF Growth--9.70%-10.26%-24.41%23.50%-20.11%33.61%3.41%--
UNITED STATES386M513M603M2.77B1.13B1.41B1.48B1.26B--
UNITED STATES Growth-32.90%17.54%360.03%-59.30%24.53%5.41%-15.05%--
IRELAND---2.96B867M1.16B----
IRELAND Growth-----70.68%33.79%----
TAIWAN, PROVINCE OF CHINA2.85B---------
TAIWAN, PROVINCE OF CHINA Growth----------

Frequently Asked Questions

Valuation & Price

QUALCOMM Incorporated (QCOM) has a price-to-earnings (P/E) ratio of 33.0x. This suggests investors expect higher future growth.

Growth & Financials

QUALCOMM Incorporated (QCOM) reported $44.28B in revenue for fiscal year 2025. This represents a 132% increase from $19.12B in 2012.

QUALCOMM Incorporated (QCOM) grew revenue by 13.7% over the past year. This is steady growth.

Yes, QUALCOMM Incorporated (QCOM) is profitable, generating $5.54B in net income for fiscal year 2025 (12.5% net margin).

Dividend & Returns

Yes, QUALCOMM Incorporated (QCOM) pays a dividend with a yield of 2.08%. This makes it attractive for income-focused investors.

QUALCOMM Incorporated (QCOM) has a return on equity (ROE) of 23.3%. This is excellent, indicating efficient use of shareholder capital.

QUALCOMM Incorporated (QCOM) generated $12.82B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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