Qualcomm Inc

Semiconductors

QCOMMixed9 of 11 basics passed

$175.40

-0.35%

Market cap $187B

$175.40

-0.35%

Market cap $187B

Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks.

It is a $187B technology company. Revenue grew 1.9% over the last year, it keeps 21¢ of every dollar of sales as profit, and its net debt equals ~0.4 years of free cash flow. It trades at 20.2× earnings — around the middle of its own history.

Website: qualcomm.com
Location: San Diego, CA
Employees: 52 000
Sector: Technology
Founded: 1985

Share price · 3 years

$112.31 → $175.40+56.2%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $44.1B
Profit: keeps 21¢ of every $1 sold; $9.26B
Free cash flow: cash left after running the business; $10.4B
Net debt: debt minus cash on hand; $4.66B
P/E: years of profit in the price; 20.2
EPS: earnings per share, TTM; $8.38
Dividend: pays out 23% of profit · 37% of FCF · raised 20+ yrs; 2.04%
Shares: down 26% since 2016 — buybacks; 1.10B
Volatility: beta vs the market — under 1 swings less; 1.76

Revenue, last 10 years

52-week range

Low $124.07$175.40High $251.02

Today's price is 40% of the way from the year's low to its high.

P/E vs its history5y

20.2×median 16.6×

Higher than 66% of past days — around the middle of its own history.

Valuation vs own history

P/E

20.2×

34%

P/S

4.3×

45%

EV/EBITDA

18.7×

30%

P/B

6.8×

67%

FCF yield

5.6%

45%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Insider activity · 90 days

-$4.56Mnet selling

Purchases$0

Sales$4.56M

Insiders trading, last 14d0 buy · 1 sell

Standing in Technology

Size$187Btop 14%
Revenue growth+0%top 85%
Net margin21%top 29%
Return on equity37%top 20%
P/E20.2×top 25%
Dividend yield2.04%top 20%

Ranked against 220 Technology companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong profitability, quality and moat; Growth lags behind.

Valuation57

P/E vs own history66th pct · 5/25
FCF yield5.6% · 20/25
P/S4.3x · 20/25
EV/EBITDA16.9x · 12/25

Growth23

Revenue CAGR7.2% · 12/25
Net income CAGR-11.5% · 0/25
EPS CAGR ~5Y2.1% · 6/25
Fwd implied growth2.9% · 5/25

Profitability90

ROIC23.5% · 20/25
ROE37.3% · 25/25
Net margin21.0% · 25/25
Operating margin23.0% · 20/25

Health70

Altman Zn/a · 0/25
Current ratio2.02 · 25/25
Interest coverage38.4x · 25/25
Net cash / debtD/A 9% · 20/25

Quality77

Piotroski F6/9 · 15/25
Beneish M-3.31 · 25/25
FCF conversion112% · 25/25
Margin stabilityσ 9.0% · 12/25

Moat75

ROIC >12% years9/10 yrs · 25/25
Median gross margin56.9% · 25/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst -21.4% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

2025Acquisition
Qualcomm agreed to acquire British semiconductor maker of high-speed wired connectivity, Alphawave IP Group, for…
2024Acquisition
It was announced by the Federal Trade Commission that Qualcomm's proposed acquisition of Autotalks…
2023Acquisition
Qualcomm introduced the Snapdragon X series, a computing platform for Windows PCs which includes a…
FY2022Financial
Best year on record
$12.9B net income
2022Acquisition
Qualcomm acquired the advanced driver-assistance systems and autonomous driving software brand…
2021Acquisition
The acquisition was completed in March 2021, and it was announced that its first products would be laptop CPUs,…
2018Acquisition
Qualcomm's NXP acquisition then became a part of the 2018 China–United States trade war
FY2016Financial
First recorded profitable year
$5.71B net income
FY2016Financial
Revenue already above $10B
$23.6B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak
2016Product
Qualcomm developed its first beta processor chip for servers and PCs called "Server Development Platform"…
2016Acquisition
Qualcomm announced its intent to acquire NXP Semiconductors for $47 billion in October 2016
1991IPO
To obtain funding, the company filed an initial public offering in September 1991, raising
Jul 1, 1985Founded
Qualcomm was established on July 1, 1985 by seven former Linkabit employees led by Irwin Jacobs

Achievements

Verifiable track record, straight from the reported numbers.

#32 largest of 220 Technology companies by market cap

Raised its dividend 20+ consecutive years

$10 000 invested in 2021 would be worth ~$12 427 today — price return only

$44.3B revenue in FY2025

Profitable 7 years in a row

Positive free cash flow 10 years in a row

52 000 employees

ROIC of 23.5%

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (54.2%)
Strongly profitable — 21.0% net margin
Strong cash conversion — FCF is 23.6% of revenue
Interest covered 38.4× by operating earnings
High returns on invested capital (ROIC 23.5%)

Watch-outs

Loss-making in 1 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed

Revenue growing — the company sells more than a year ago+1.9% YoY
Profitable — makes more than it spends$9.26B TTM
Profit growing — earnings are higher than last year-23.9% YoY
Generates cash — cash left after running and investing$10.4B TTM
Debt under control — could handle its obligations~0.4y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$187B market cap
Not printing shares — share count not ballooning — you keep your slice-3.8% shares over ~5y
Proven track record — years of profitability behind it9/10 profitable years
Financially stable — balance sheet not near distresshealth score 50/100
Pays a dividend — returns cash to shareholdersyield 2.04%
Valuation not extreme — price not wildly above earningsP/E 20.2

Peer comparisonQualcomm Inc vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
QCOM this company	$187.3B	20.2	+1.9%	21.0%	Mixed
NVDA Nvidia Corp	$5.5T	28.6	+83.4%	63.7%	Mixed
AAPL Apple Inc.	$4.9T	38.1	+14.2%	27.6%	Strong
GOOGL Alphabet Inc.	$4.3T	17.6	+20.1%	54.8%	Mixed
MSFT Microsoft Corp	$4.0T	29.7	+17.8%	40.3%	Strong
SPCX Space Exploration Technologies Corp.	$2.1T	—	+33.2%	-34.0%	Strained
META Meta Platforms, Inc.	$1.8T	26.9	+27.7%	29.8%	Mixed

Head-to-head: QCOM vs NVDA · QCOM vs AAPL · QCOM vs GOOGL

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 5Buy 15Hold 26Sell 3

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $44.1B · net income $9.26B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$44.1B

YoY 1.9%

Net income (TTM)

$9.26B

Margin 21.0%

Gross margin

54.2%

Operating margin

23.0%

P/E ratio

20.2

Dividend yield

2.04%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	23.5	33.6	44.2	35.8	39.0	44.3
Gross profit	14.3	19.3	25.6	20.0	21.9	24.5
Operating income (EBIT)	6.3	9.8	15.9	7.8	10.1	12.4
Net income	5.2	9.0	12.9	7.2	10.1	5.5
EPS (diluted)	4.52	7.87	11.38	6.42	8.98	5.01

Cash flowFree cash flow $10.4B · operating cash flow $12.4B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$10.4B

Margin 23.6%

Operating cash flow (TTM)

$12.4B

FCF margin

23.6%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	5.8	10.5	9.1	11.3	12.2	14.0
Capital expenditure	-1.4	-1.9	-2.3	-1.4	-1.0	-1.2
Free cash flow	4.4	8.6	6.8	9.8	11.2	12.8
FCF margin	18.7%	25.8%	15.5%	27.5%	28.6%	28.9%

Balance sheetAssets $50.1B · net debt $4.66B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $50.1B of assets is financed

58%

42%

Liabilities $28.9B — borrowed moneyEquity $21.2B — owners' stake

Cash vs debt

Total debt $14.8B − cash $10.2B = net debt $4.66B

Cash on hand covers 69% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

38.4x

EBIT ÷ interest expense

ROE

37.3%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	11.2	12.4	6.4	11.3	13.3	10.2
Total assets	35.6	41.2	49.0	51.0	55.2	50.1
Total liabilities	29.5	31.3	31.0	29.5	28.9	28.9
Total debt	15.7	15.7	15.5	15.4	14.6	14.8
Equity	6.1	9.9	18.0	21.6	26.3	21.2
Net debt	4.5	3.3	9.1	4.1	1.3	4.7

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of QCOM on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $175.40 · market cap $187B.