NASDAQ : QCOM
QUALCOMM Incorporated — Financial statements
Technology · Semiconductors · United States
Last price 185.41 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 197.99B
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Financial statements
QUALCOMM Incorporated (QCOM) reported revenue of 44.07B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 44.07B | 44.28B | 38.96B | 35.82B | 44.20B | 33.57B |
| Cost of Revenue | 20.17B | 19.74B | 17.06B | 15.87B | 18.64B | 14.26B |
| Gross Profit | 23.90B | 24.55B | 21.90B | 19.95B | 25.57B | 19.30B |
| Selling, General & Admin | 3.58B | 3.11B | 2.76B | 2.48B | 2.57B | 2.34B |
| Research & Development | 9.89B | 9.04B | 8.89B | 8.82B | 8.19B | 7.18B |
| Other Operating Expenses | -3.00M | |||||
| Operating Expenses | 13.47B | 12.15B | 11.65B | 11.30B | 10.76B | 9.52B |
| Operating Income | 10.43B | 12.39B | 10.25B | 8.65B | 14.80B | 9.79B |
| Interest Expense | -690.00M | -664.00M | -697.00M | -694.00M | -490.00M | -559.00M |
| Interest & Investment Income | 491.00M | 639.00M | 675.00M | 313.00M | 91.00M | 83.00M |
| Earnings From Equity Investments | 136.00M | |||||
| Other Non Operating Income (Expenses) | 197.00M | 148.00M | 177.00M | 72.00M | -166.00M | 97.00M |
| EBT Excluding Unusual Items | 10.56B | 12.52B | 10.41B | 8.34B | 14.24B | 9.41B |
| Merger & Restructuring Charges | -136.00M | -39.00M | -107.00M | -712.00M | ||
| Gain (Loss) on Sale of Investments | 788.00M | 185.00M | 110.00M | -36.00M | -297.00M | 864.00M |
| Legal Settlements | -75.00M | 1.06B | ||||
| Pretax Income | 11.21B | 12.66B | 10.34B | 7.44B | 15.00B | 10.27B |
| Income Tax Expense | 1.95B | 7.12B | 226.00M | 104.00M | 2.01B | 1.23B |
| Earnings From Continuing Operations | 9.26B | 5.54B | 10.11B | 7.34B | 12.99B | 9.04B |
| Earnings From Discontinued Operations | 32.00M | -107.00M | -50.00M | |||
| Net Income to Company | 9.26B | 5.54B | 10.14B | 7.23B | 12.94B | 9.04B |
| Net Income | 9.26B | 5.54B | 10.14B | 7.23B | 12.94B | 9.04B |
| Net Income to Common | 9.26B | 5.54B | 10.14B | 7.23B | 12.94B | 9.04B |
| Shares Outstanding (Basic) | 1.07B | 1.10B | 1.12B | 1.12B | 1.12B | 1.13B |
| Shares Outstanding (Diluted) | 1.08B | 1.10B | 1.13B | 1.13B | 1.14B | 1.15B |
| EPS (Basic) | 8.67 | 5.06 | 9.09 | 6.47 | 11.52 | 8.00 |
| EPS (Diluted) | 8.59 | 5.01 | 8.97 | 6.42 | 11.37 | 7.87 |
| Free Cash Flow | 10.42B | 12.82B | 11.16B | 9.85B | 6.83B | 8.65B |
| Free Cash Flow Per Share | 9.68 | 11.60 | 9.88 | 8.75 | 6.01 | 7.53 |
| Dividend Per Share | 3.59 | 3.48 | 3.30 | 3.10 | 2.86 | 2.66 |
| Gross Margin | 54.23% | 55.43% | 56.21% | 55.70% | 57.84% | 57.51% |
| Operating Margin | 23.66% | 27.99% | 26.31% | 24.15% | 33.49% | 29.16% |
| Profit Margin | 21.01% | 12.51% | 26.03% | 20.19% | 29.27% | 26.94% |
| Free Cash Flow Margin | 23.64% | 28.95% | 28.65% | 27.50% | 15.46% | 25.76% |
| EBITDA | 12.00B | 14.00B | 11.96B | 10.46B | 16.56B | 11.37B |
| EBITDA Margin | 27.23% | 31.61% | 30.69% | 29.20% | 37.47% | 33.88% |
| D&A For EBITDA | 1.57B | 1.60B | 1.71B | 1.81B | 1.76B | 1.58B |
| EBIT | 10.43B | 12.39B | 10.25B | 8.65B | 14.80B | 9.79B |
| EBIT Margin | 23.66% | 27.99% | 26.31% | 24.15% | 33.49% | 29.16% |
| Effective Tax Rate | 17.41% | 56.24% | 2.19% | 1.40% | 13.41% | 11.98% |
| Revenue as Reported | 44.07B | 44.28B | 38.96B | 35.82B | 44.20B | 33.57B |
Balance sheet
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.53B | 5.52B | 7.85B | 8.45B | 2.77B | 7.12B |
| Short-Term Investments | 3.77B | 4.63B | 5.45B | 2.87B | 3.61B | 5.30B |
| Cash & Short-Term Investments | 8.30B | 10.15B | 13.30B | 11.32B | 6.38B | 12.41B |
| Accounts Receivable | 4.67B | 4.30B | 3.89B | 3.15B | 5.61B | 3.57B |
| Other Receivables | 17.00M | 36.00M | 37.00M | 33.00M | 11.00M | |
| Receivables | 4.67B | 4.32B | 3.93B | 3.18B | 5.64B | 3.58B |
| Inventory | 8.57B | 8.03B | 7.19B | 6.83B | 7.04B | 3.23B |
| Restricted Cash | 2.32B | |||||
| Other Current Assets | 1.46B | 935.00M | 814.00M | 1.13B | 1.66B | 854.00M |
| Total Current Assets | 23.00B | 25.75B | 25.23B | 22.46B | 20.72B | 20.07B |
| Property, Plant & Equipment | 5.22B | 5.42B | 5.38B | 5.65B | 5.80B | 5.07B |
| Long-Term Investments | 1.38B | 1.34B | 1.24B | 1.29B | 1.26B | |
| Goodwill | 14.27B | 11.36B | 10.80B | 10.64B | 10.51B | 7.25B |
| Other Intangible Assets | 1.51B | 1.15B | 1.24B | 1.41B | 1.88B | 1.46B |
| Long-Term Deferred Tax Assets | 5.68B | 743.00M | 5.16B | 3.31B | 1.80B | 1.59B |
| Other Long-Term Assets | 7.68B | 4.34B | 5.99B | 6.33B | 7.00B | 4.53B |
| Total Assets | 57.37B | 50.14B | 55.15B | 51.04B | 49.01B | 41.24B |
| Accounts Payable | 2.90B | 2.79B | 2.58B | 1.91B | 3.80B | 2.75B |
| Accrued Expenses | 4.23B | 3.79B | 4.31B | 3.51B | 3.37B | 3.50B |
| Short-Term Debt | 498.00M | 499.00M | 500.00M | |||
| Current Portion of Long-Term Debt | 1.99B | 1.36B | 914.00M | 1.45B | 1.54B | |
| Current Portion of Leases | 102.00M | 98.00M | 98.00M | 104.00M | 126.00M | |
| Current Income Taxes Payable | 557.00M | 1.01B | 1.08B | 1.72B | 634.00M | 862.00M |
| Current Unearned Revenue | 280.00M | 358.00M | 297.00M | 293.00M | 369.00M | 612.00M |
| Other Current Liabilities | 958.00M | 1.10B | 767.00M | 1.19B | 1.65B | 2.05B |
| Total Current Liabilities | 11.41B | 9.14B | 10.50B | 9.63B | 11.87B | 11.95B |
| Long-Term Debt | 12.78B | 14.81B | 13.27B | 14.48B | 13.54B | 13.70B |
| Long-Term Leases | 730.00M | 708.00M | 571.00M | 573.00M | 428.00M | |
| Long-Term Unearned Revenue | 81.00M | 71.00M | 88.00M | 99.00M | 144.00M | 364.00M |
| Long-Term Deferred Tax Liabilities | 131.00M | 114.00M | 111.00M | 167.00M | 64.00M | |
| Other Long-Term Liabilities | 5.43B | 4.05B | 4.20B | 4.57B | 4.71B | 4.78B |
| Total Liabilities | 29.71B | 28.94B | 28.88B | 29.46B | 31.00B | 31.29B |
| Common Stock | 490.00M | 195.00M | ||||
| Retained Earnings | 27.26B | 20.65B | 25.69B | 20.73B | 17.84B | 9.82B |
| Comprehensive Income & Other | 395.00M | 560.00M | 587.00M | 358.00M | -22.00M | 128.00M |
| Total Common Equity | 27.66B | 21.21B | 26.27B | 21.58B | 18.01B | 9.95B |
| Shareholders' Equity | 27.66B | 21.21B | 26.27B | 21.58B | 18.01B | 9.95B |
| Total Liabilities & Equity | 57.37B | 50.14B | 55.15B | 51.04B | 49.01B | 41.24B |
| Total Debt | 15.27B | 15.64B | 15.44B | 16.07B | 16.16B | 16.30B |
| Net Cash (Debt) | -6.97B | -5.49B | -2.14B | -4.74B | -9.78B | -3.88B |
| Net Cash Per Share | -6.48 | -4.97 | -1.89 | -4.21 | -8.60 | -3.38 |
| Filing Date Shares Outstanding | 1.05B | 1.07B | 1.11B | 1.11B | 1.12B | 1.12B |
| Total Common Shares Outstanding | 1.06B | 1.07B | 1.11B | 1.11B | 1.12B | 1.12B |
| Working Capital | 11.59B | 16.61B | 14.73B | 12.84B | 8.86B | 8.12B |
| Book Value Per Share | 26.17 | 19.74 | 23.61 | 19.37 | 16.07 | 8.84 |
| Tangible Book Value | 11.87B | 8.70B | 14.23B | 9.53B | 5.62B | 1.25B |
| Tangible Book Value Per Share | 11.23 | 8.10 | 12.79 | 8.56 | 5.02 | 1.11 |
| Land | 168.00M | 169.00M | 169.00M | 170.00M | 172.00M | |
| Buildings | 1.92B | 1.89B | 1.85B | 1.77B | 1.64B | |
| Machinery | 11.67B | 10.81B | 9.98B | 9.13B | 8.00B | |
| Construction In Progress | 154.00M | 126.00M | 226.00M | 330.00M | 269.00M | |
| Leasehold Improvements | 594.00M | 550.00M | 485.00M | 369.00M | 374.00M |
Cash flow statement
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 9.26B | 5.54B | 10.14B | 7.23B | 12.94B | 9.04B |
| Depreciation & Amortization | 1.57B | 1.60B | 1.71B | 1.81B | 1.76B | 1.58B |
| Asset Writedown & Restructuring Costs | 17.00M | 17.00M | 7.00M | 182.00M | 2.00M | 5.00M |
| Loss (Gain) From Sale of Investments | -936.00M | -268.00M | -270.00M | -20.00M | 479.00M | -969.00M |
| Stock-Based Compensation | 3.24B | 2.78B | 2.65B | 2.48B | 2.03B | 1.66B |
| Other Operating Activities | -134.00M | 3.92B | -3.16B | -1.14B | -144.00M | -327.00M |
| Change in Accounts Receivable | -1.16B | -365.00M | -768.00M | 2.47B | -2.07B | 426.00M |
| Change in Inventory | -1.97B | -138.00M | 13.00M | 8.00M | -3.14B | -622.00M |
| Change in Accounts Payable | 488.00M | 119.00M | 682.00M | -1.88B | 1.04B | 495.00M |
| Change in Unearned Revenue | -166.00M | 62.00M | 20.00M | -56.00M | -324.00M | -202.00M |
| Change in Other Net Operating Assets | 2.33B | 736.00M | 1.28B | 604.00M | -3.31B | -558.00M |
| Operating Cash Flow | 12.40B | 14.01B | 12.20B | 11.30B | 9.10B | 10.54B |
| Capital Expenditures | -1.99B | -1.19B | -1.04B | -1.45B | -2.26B | -1.89B |
| Sale of Property, Plant & Equipment | 14.00M | 14.00M | 10.00M | 127.00M | 5.00M | 3.00M |
| Cash Acquisitions | -1.60B | -743.00M | -254.00M | -235.00M | -4.91B | -1.38B |
| Investment in Securities | 1.44B | 1.12B | -2.30B | 918.00M | 1.34B | -32.00M |
| Other Investing Activities | 22.00M | -1.00M | -34.00M | 1.40B | 25.00M | -62.00M |
| Investing Cash Flow | -2.12B | -800.00M | -3.62B | 762.00M | -5.80B | -3.36B |
| Short-Term Debt Issued | 998.00M | 799.00M | 5.07B | 7.00B | 2.89B | |
| Long-Term Debt Issued | 1.49B | 1.88B | 1.48B | |||
| Total Debt Issued | 3.24B | 2.48B | 799.00M | 6.95B | 8.48B | 2.89B |
| Short-Term Debt Repaid | -998.00M | -799.00M | -5.57B | -7.35B | -2.88B | |
| Long-Term Debt Repaid | -1.36B | -914.00M | -1.45B | -1.54B | ||
| Total Debt Repaid | -2.92B | -2.36B | -1.71B | -7.01B | -8.89B | -2.88B |
| Net Debt Issued (Repaid) | 321.00M | 122.00M | -914.00M | -64.00M | -415.00M | 1.00M |
| Issuance of Common Stock | 426.00M | 404.00M | 383.00M | 434.00M | 356.00M | 347.00M |
| Repurchase of Common Stock | -10.38B | -9.91B | -5.05B | -3.49B | -3.90B | -4.10B |
| Common Dividends Paid | -3.83B | -3.81B | -3.69B | -3.46B | -3.21B | -3.01B |
| Other Financing Activities | -29.00M | -11.00M | 2.00M | -77.00M | -30.00M | -35.00M |
| Financing Cash Flow | -13.48B | -13.20B | -9.27B | -6.66B | -7.20B | -6.80B |
| Foreign Exchange Rate Adjustments | -38.00M | -22.00M | 12.00M | 30.00M | -113.00M | 27.00M |
| Net Cash Flow | -3.24B | -6.00M | -678.00M | 5.43B | -4.02B | 409.00M |
| Free Cash Flow | 10.42B | 12.82B | 11.16B | 9.85B | 6.83B | 8.65B |
| Free Cash Flow Margin | 23.64% | 28.95% | 28.65% | 27.50% | 15.46% | 25.76% |
| Free Cash Flow Per Share | 9.68 | 11.60 | 9.88 | 8.75 | 6.01 | 7.53 |
| Levered Free Cash Flow | 10.24B | 6.86B | 8.92B | 9.82B | 3.86B | 8.52B |
| Unlevered Free Cash Flow | 10.67B | 7.27B | 9.36B | 10.25B | 4.17B | 8.87B |
| Cash Interest Paid | 614.00M | 614.00M | 656.00M | 614.00M | 491.00M | 477.00M |
| Cash Income Tax Paid | 3.10B | 3.10B | 3.30B | 1.40B | 2.10B | 1.50B |
| Change in Working Capital | -485.00M | 414.00M | 1.22B | 1.15B | -7.80B | -461.00M |
Ratios
Fiscal year October - September; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 173.08B | 181.64B | 189.52B | 120.17B | 136.10B | 151.02B |
| Enterprise Value | 180.04B | 186.41B | 191.05B | 126.98B | 144.79B | 153.93B |
| Last Close Price | 164.79 | 165.75 | 162.99 | 101.05 | 110.77 | 120.09 |
| PE Ratio | 18.86 | 32.78 | 18.69 | 16.62 | 10.52 | 16.70 |
| Forward PE | 17.53 | 14.23 | 15.73 | 12.67 | 9.53 | 14.87 |
| PS Ratio | 4.07 | 4.10 | 4.86 | 3.35 | 3.08 | 4.50 |
| PB Ratio | 6.30 | 8.56 | 7.21 | 5.57 | 7.55 | 15.18 |
| P/TBV Ratio | 15.10 | 20.88 | 13.32 | 12.61 | 24.20 | 121.20 |
| P/FCF Ratio | 17.21 | 14.17 | 16.98 | 12.20 | 19.91 | 17.46 |
| P/OCF Ratio | 14.46 | 12.96 | 15.53 | 10.64 | 14.96 | 14.33 |
| PEG Ratio | 2.89 | 2.56 | 1.53 | 1.53 | 0.41 | 0.51 |
| EV/Sales Ratio | 4.23 | 4.21 | 4.90 | 3.54 | 3.28 | 4.59 |
| EV/EBITDA Ratio | 15.52 | 13.32 | 15.97 | 12.14 | 8.74 | 13.54 |
| EV/EBIT Ratio | 17.86 | 15.04 | 18.63 | 14.68 | 9.78 | 15.72 |
| EV/FCF Ratio | 17.88 | 14.54 | 17.12 | 12.89 | 21.19 | 17.80 |
| Debt / Equity Ratio | 0.55 | 0.74 | 0.59 | 0.74 | 0.90 | 1.64 |
| Debt / EBITDA Ratio | 1.25 | 1.10 | 1.27 | 1.51 | 0.96 | 1.41 |
| Debt / FCF Ratio | 1.47 | 1.22 | 1.38 | 1.63 | 2.37 | 1.89 |
| Net Debt / Equity Ratio | 0.25 | 0.26 | 0.08 | 0.22 | 0.54 | 0.39 |
| Net Debt / EBITDA Ratio | 0.58 | 0.39 | 0.18 | 0.45 | 0.59 | 0.34 |
| Net Debt / FCF Ratio | 0.67 | 0.43 | 0.19 | 0.48 | 1.43 | 0.45 |
| Asset Turnover | 0.79 | 0.84 | 0.73 | 0.72 | 0.98 | 0.87 |
| Inventory Turnover | 2.40 | 2.60 | 2.44 | 2.29 | 3.63 | 4.90 |
| Quick Ratio | 1.14 | 1.58 | 1.64 | 1.51 | 1.01 | 1.34 |
| Current Ratio | 2.02 | 2.82 | 2.40 | 2.33 | 1.75 | 1.68 |
| Return on Equity (ROE) | 33.75% | 23.34% | 42.25% | 37.07% | 92.88% | 112.85% |
| Return on Assets (ROA) | 11.61% | 14.71% | 12.07% | 10.81% | 20.50% | 15.93% |
| Return on Invested Capital (ROIC) | 25.56% | 19.68% | 36.64% | 31.52% | 61.58% | 69.12% |
| Return on Capital Employed (ROCE) | 22.70% | 30.20% | 23.00% | 20.90% | 39.80% | 33.40% |
| Earnings Yield | 5.30% | 3.05% | 5.35% | 6.02% | 9.50% | 5.99% |
| FCF Yield | 5.81% | 7.06% | 5.89% | 8.20% | 5.02% | 5.73% |
| Dividend Yield | 2.27% | 2.06% | 1.94% | 2.87% | 2.36% | 1.98% |
| Payout Ratio | 42.82% | 68.67% | 36.35% | 47.87% | 24.83% | 33.26% |
| Buyback Yield / Dilution | 3.65% | 2.21% | -0.36% | 0.97% | 1.04% | 0.35% |
| Total Shareholder Return | 5.84% | 4.27% | 1.58% | 3.84% | 3.40% | 2.33% |