FirmAtlas
Company handbook · QCOM · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
QCOM · CIK 804328 · LATEST FILING: 10-Q JUN '26 · FILED JUL 29, 2026
QUALCOMM INC/DE
$172.11
−6.29 (−3.53%)
Close, Oct 16, 2026 · 52-week $122–260
Last fiscal year
QUALCOMM INC/DE reported revenue of $44.3B for the year ended Sep 28, 2025 (FY25), up 13.7% from FY24. Net income was $5.5B, operating cash flow $14.0B and free cash flow $12.8B. Source: 10-K filed Nov 5, 2025.
Market cap
$184.8B
P/E
20.0
EV/EBITDA
13.6x
P/B
6.7
Div yield
2.10%
ROIC
20.2%
Revenue 1Y
13.7%/yr
EPS 1Y
−44.1%/yr
Shares 1Y
−4%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOCristiano R. Amon
HQSan Diego, CA
AuditorPricewaterhouseCoopers LLP
Year endsSeptember
Revenue by segment · FY25
Qct87%
Qtl13%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
10.1%
5.7%
15.9%
4.9%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$22.6B deployed
Capex
$2.2B
9.9%
Dividends
$7.5B
33.1%
Buybacks
$12.9B
57.0%
Operating cash flow over the period: $26.2B. Total debt changed by +$177M. R&D of $17.9B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Sep 28, 2025 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
38,962
44,284+13.7%
44,069
YoY
+13.7%
Gross profit
21,902
24,546+12.1%
23,897
Gross margin
56.2%
55.4%−0.8 pp
—
Operating income
10,071
12,355+22.7%
10,219
Operating margin
25.8%
27.9%+2.1 pp
—
EBITDA
11,777
13,957+18.5%
—
EBITDA margin
30.2%
31.5%+1.3 pp
—
Interest expense
697
664−4.7%
—
Interest coverage
16.90x
21.02x+4.12x
—
Net income
10,142
5,541−45.4%
9,259
YoY
−45.4%
Net margin
26.0%
12.5%−13.5 pp
—
EPS (diluted, $)
8.97
5.01−44.1%
8.63
YoY
−44.1%
Balance sheet
Total assets
55,154
50,143−9.1%
57,367
Cash & short-term investments
13,300
10,155−23.6%
—
Accounts receivable
2,347
2,855+21.6%
—
Inventory
6,423
6,526+1.6%
—
Net PP&E
4,665
4,690+0.5%
—
Other assets
28,419
25,917−8.8%
—
Total liabilities
28,880
28,937+0.2%
29,709
Accounts payable
2,584
2,791+8.0%
—
Total debt
14,634
14,811+1.2%
13,279
Other liabilities
11,662
11,335−2.8%
—
Shareholders’ equity
26,274
21,206−19.3%
27,658
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
12,202
14,012+14.8%
12,401
Net income
10,142
5,541−45.4%
—
Depreciation & amortization
1,706
1,602−6.1%
—
Stock-based compensation
2,648
2,783+5.1%
—
Working capital & other
(2,294)
4,086n/m
—
Cash from investing
(3,623)
(800)n/m
—
Capex
(1,041)
(1,192)n/m
—
PP&E sold
10
14+40.0%
—
Investments bought
(5,069)
(4,694)n/m
—
Investments sold / matured
2,677
5,755+115.0%
—
Other investing
(200)
(683)n/m
—
Cash from financing
(9,269)
(13,196)n/m
—
Debt raised
0
1,487n/m
—
Dividends
(3,687)
(3,805)n/m
—
Buybacks
(4,121)
(8,791)n/m
—
Shares issued
383
404+5.5%
—
Other financing
(1,844)
(2,491)n/m
—
Net change in cash
(678)
(6)n/m
—
Free cash flow (OCF − capex)
11,161
12,820+14.9%
10,416
Where the cash went
Operating cash flow
12,202
14,012+14.8%
12,401
Reinvested in the business
1,041
1,192+14.5%
—
% of operating cash flow
8.5%
8.5%
Capex
1,041
1,192+14.5%
1,985
R&D (memo, already in costs)
8,893
9,042+1.7%
—
Free cash flow
11,161
12,820+14.9%
10,416
YoY
+14.9%
Returned to shareholders
7,808
12,596+61.3%
—
% of free cash flow
70.0%
98.3%
Dividends
3,687
3,805+3.2%
—
Buybacks
4,121
8,791+113.3%
—
Change in total debt
—
177
—
Cash left over
—
401
—
FCF conversion (FCF ÷ net income)
110.0%
231.4%+121.3 pp
—
Owner earnings
—
5,547
—
Owner earnings margin
—
12.5%
—
Buyback yield
2.2%
4.8%+2.7 pp
—
Returns & ratios
ROIC (all capital)
35.7%
20.2%−15.5 pp
—
ROIC (operating)
90.8%
48.9%−41.9 pp
—
Net debt / EBITDA
0.11x
0.33x+0.22x
—
Debt / equity
0.56x
0.70x+0.14x
—
Cash conversion cycle (days)
104
93−12 d
—
ROE
38.6%
26.1%−12.5 pp
—
ROA
18.4%
11.1%−7.3 pp
—
ROCE
22.6%
30.1%+7.6 pp
—
NOPAT
9,851
5,406−45.1%
—
Invested capital (operating)
10,851
11,280+4.0%
—
Invested capital (all)
27,608
25,862−6.3%
—
Reinvestment rate
—
7.9%
—
Debtor days
22
24+2 d
—
Inventory days
137
121−17 d
—
Days payable
55
52−4 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
11,271
12,252
10,599
9,947
vs year-ago quarter
Gross profit
6,237
6,684
5,699
5,277
Gross margin
55.3%
54.6%
53.8%
53.1%
Operating income
2,918
3,366
2,309
1,626
Net income
(3,117)
3,004
7,370
2,002
vs year-ago quarter
Net margin
−27.7%
24.5%
69.5%
20.1%
EPS (diluted, $)
−2.90
2.78
6.88
1.87
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
50,143
53,034
57,136
57,367
Cash & equivalents
10,155
7,205
5,435
4,533
Total debt
14,811
14,817
14,772
13,279
Shareholders’ equity
21,206
23,073
27,278
27,658
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
3,996
4,965
2,449
991
Capex
407
549
533
496
Free cash flow
3,589
4,416
1,916
495
vs year-ago quarter