QUALCOMM INC/DE QCOM
We incorporated in California in 1985 and reincorporated in Delaware in 1991. We operate and report using a 52-53 week fiscal year ending on the last Sunday in September. Our 52-week fiscal years consist of four equal fiscal quarters of 13 weeks each, and our 53-week fiscal years consist of three 13-week fiscal quarters and one 14-week fiscal quarter. The financial results for our 53-week fiscal years and our 14-week fiscal quarters will not be exactly comparable to our 52-week fiscal years and our 13-week fiscal quarters. Our fiscal years for 2025, 2024 and 2023 included 52 weeks, 53 weeks and 52 weeks, respectively. Our fiscal year for 2026 will include 52 weeks.
We are a global technology leader, helping to bring intelligent computing everywhere through the development and commercialization of foundational technologies, including on-device artificial intelligence (AI), high-performance and low-power computing and advanced wireless connectivity. Our platforms help power intelligent devices that people and businesses rely on every day across industries and applications from handsets to other areas, including automotive and the internet of things (IoT). In automotive, our Snapdragon® Digital Chassis™ platforms, including connectivity, digital cockpit and advanced driver assistance and automated driving (ADAS/AD), are helping to connect the car to its environment and the cloud, creating unique in-cabin experiences and enabling a comprehensive assisted and automated driving solution. In IoT, our inventions have helped power technology advancements in industries and applications such as consumer (including personal computers (PCs), extended reality (XR) and other personal computing devices), edge networking (including mobile broadband and wireless access points) and industrial (including handhelds, retail, tracking and logistics and utilities). We derive revenues principally from sales of integrated circuit products, including our Snapdragon® and Qualcomm Dragonwing™ families of highly-integrated, system-based solutions, and licensing of our intellectual property, including patents and other rights.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44.28B | $38.96B | $35.82B | $44.20B | $33.57B | $23.53B | $24.27B | $22.61B | $22.26B | $23.55B |
| Cost of revenue | $19.74B | $17.06B | $15.87B | $18.64B | $14.26B | $9.26B | $8.60B | $10.24B | $9.79B | $9.75B |
| Gross profit | $24.55B | $21.90B | $19.95B | $25.57B | $19.30B | $14.28B | $15.67B | $12.37B | $12.47B | $13.80B |
| R&D | $9.04B | $8.89B | $8.82B | $8.19B | $7.18B | $5.97B | $5.40B | $5.62B | $5.49B | $5.15B |
| SG&A | $3.11B | $2.76B | $2.48B | $2.57B | $2.34B | $2.07B | $2.19B | $2.99B | $2.66B | $2.38B |
| Total operating expenses | $31.93B | $28.89B | $28.03B | $28.34B | $23.78B | $17.28B | $16.61B | $21.99B | $19.68B | $17.06B |
| Operating income | $12.36B | $10.07B | $7.79B | $15.86B | $9.79B | $6.25B | $7.67B | $621.0M | $2.58B | $6.50B |
| Interest expense | $664.0M | $697.0M | $694.0M | $490.0M | $559.0M | $602.0M | $627.0M | $768.0M | $494.0M | $297.0M |
| Pre-tax income | $12.66B | $10.34B | $7.44B | $15.00B | $10.27B | $5.72B | $7.48B | $392.0M | $2.99B | $6.83B |
| Income tax | $7.12B | $226.0M | $104.0M | $2.01B | $1.23B | $521.0M | $3.10B | $5.36B | $543.0M | $1.13B |
| Net income | $5.54B | $10.14B | $7.23B | $12.94B | $9.04B | $5.20B | $4.39B | -$4.96B | $2.44B | $5.71B |
| EPS, basic | 5.05 | 9.09 | 6.47 | 11.52 | 7.99 | 4.58 | 3.63 | -3.39 | 1.66 | 3.84 |
| EPS, diluted | 5.01 | 8.97 | 6.42 | 11.37 | 7.87 | 4.52 | 3.59 | -3.39 | 1.64 | 3.81 |
| Shares, diluted (wtd. avg.) | $1.10B | $1.13B | $1.13B | $1.14B | $1.15B | $1.15B | $1.22B | $1.46B | $1.49B | $1.50B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $5.52B | $7.85B | $8.45B | $3.10B | $7.12B | $6.71B | $11.84B | $11.78B | $37.03B | $5.95B |
| Short-term investments | $4.63B | $5.45B | $2.87B | $3.61B | $4.62B | $4.12B | $421.0M | $311.0M | $2.28B | $12.70B |
| Receivables | $2.85B | $2.35B | $1.92B | $4.17B | $2.21B | $2.69B | $1.05B | $2.67B | $3.58B | $2.19B |
| Inventory | $6.53B | $6.42B | $6.42B | $6.34B | $3.23B | $2.60B | $1.40B | $1.69B | $2.04B | $1.56B |
| Total current assets | $25.75B | $25.23B | $22.46B | $20.72B | $20.07B | $18.52B | $16.77B | $17.38B | $43.59B | $22.98B |
| Property, plant and equipment | $4.69B | $4.67B | $5.04B | $5.17B | $4.56B | $3.71B | $3.08B | $2.98B | $3.22B | $2.31B |
| Goodwill | $11.36B | $10.80B | $10.64B | $10.51B | $7.25B | $6.32B | $6.28B | $6.50B | $6.62B | $5.68B |
| Other intangibles | $1.15B | $1.24B | $1.41B | $1.88B | $1.46B | $1.65B | $2.17B | $2.96B | $3.74B | $3.50B |
| Total assets | $50.14B | $55.15B | $51.04B | $49.01B | $41.24B | $35.59B | $32.96B | $32.72B | $65.50B | $52.36B |
| Accounts payable | $2.79B | $2.58B | $1.91B | $3.80B | $2.75B | $2.25B | $1.37B | $1.82B | $1.97B | $1.86B |
| Short-term debt | $0 | $1.36B | $914.0M | $1.45B | $1.54B | $0 | $2.00B | $0 | $1.50B | $0 |
| Total current liabilities | $9.14B | $10.50B | $9.63B | $11.87B | $11.95B | $8.67B | $8.94B | $11.39B | $10.91B | $7.31B |
| Long-term debt | $14.81B | $13.27B | $14.48B | $13.54B | $13.70B | $15.23B | $13.44B | $15.37B | $19.40B | $10.01B |
| Total liabilities | $28.94B | $28.88B | $29.46B | $31.00B | $31.29B | $29.52B | $28.05B | $31.91B | $34.74B | $20.59B |
| Retained earnings | $20.65B | $25.69B | $20.73B | $17.84B | $9.82B | $5.28B | $4.47B | $542.0M | $30.09B | $30.94B |
| Total equity | $21.21B | $26.27B | $21.58B | $18.01B | $9.95B | $6.08B | $4.91B | $807.0M | $30.73B | $31.77B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $14.01B | $12.20B | $11.30B | $9.10B | $10.54B | $5.81B | $7.29B | $3.91B | $5.00B | $7.63B |
| Depreciation and amortisation | $1.60B | $1.71B | $1.81B | $1.76B | $1.58B | $1.39B | $1.40B | $1.56B | $1.46B | $1.43B |
| Stock-based compensation | $2.78B | $2.65B | $2.48B | $2.03B | $1.66B | $1.21B | $1.04B | $883.0M | $914.0M | $943.0M |
| Capital expenditure | $1.19B | $1.04B | $1.45B | $2.26B | $1.89B | $1.41B | $887.0M | $784.0M | $690.0M | $539.0M |
| Investing cash flow | -$800.0M | -$3.62B | $762.0M | -$5.80B | -$3.36B | -$5.26B | -$806.0M | $2.38B | $20.46B | -$3.49B |
| Financing cash flow | -$13.20B | -$9.27B | -$6.66B | -$7.20B | -$6.80B | -$5.71B | -$6.39B | -$31.50B | $5.57B | -$5.75B |
| Buybacks | $8.79B | $4.12B | $2.97B | $3.13B | $3.37B | $2.45B | $1.79B | $22.58B | $1.34B | $3.92B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000804328-25-000085.
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| VISN | Vistance Networks, Inc. | $1.48B | 0.7x | 39.7% |
| HLIT | HARMONIC INC. | $1.28B | — | -26.2% |
| UMAC | Unusual Machines, Inc. | $1.19B | — | 101.2% |
| BKSY | BlackSky Technology Inc. | $839.0M | — | 4.4% |