QUALCOMM Incorporated (QCOM) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$2.22	$2.21	-0.5%	—	—	—
Q3 26	$2.56	$2.65	+3.5%	—	—	—
Q2 26	$3.4	$3.5	+2.9%	—	—	—
Q1 26	$2.88	$3	+4.2%	—	—	—
Q4 25	$2.71	$2.77	+2.2%	—	—	—
Q3 25	$2.82	$2.85	+1.1%	—	—	—
Q2 25	$2.99	$3.41	+14.0%	—	—	—
Q1 25	$2.57	$2.69	+4.7%	—	—	—
Q4 24	$2.26	$2.33	+3.1%	—	—	—
Q3 24	$2.32	$2.44	+5.2%	—	—	—
Q2 24	$2.37	$2.75	+16.0%	—	—	—
Q1 24	$1.91	$2.02	+5.8%	—	—	—
Q4 23	$1.81	$1.87	+3.3%	—	—	—
Q3 23	$2.15	$2.15	0.0%	—	—	—
Q2 23	$2.34	$2.37	+1.3%	—	—	—
Q1 23	$3.13	$3.13	0.0%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$5.05	—	—	$44.3B	—
FY24	—	$9.09	—	—	$39B	—
FY23	—	$6.47	—	—	$35.8B	—
FY22	—	$11.5	—	—	$44.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$23.6B	$22.3B	$22.6B	$24.3B	$23.5B	$33.6B	$44.2B	$35.8B	$39B	$44.3B
YoY change	-6.83%	-5.5%	+1.59%	+7.35%	-3.06%	+42.6%	+31.7%	-19%	+8.77%	+13.7%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	23.6B	22.3B	22.6B	24.3B	23.5B	33.6B	44.2B	35.8B	39B	44.3B
Cost of revenue	9.7B	9.8B	10.2B	8.6B	9.3B	14.3B	18.6B	15.9B	17.1B	19.7B
Gross profit	13.8B	12.5B	12.4B	15.7B	14.3B	19.3B	25.6B	20B	21.9B	24.5B
Gross margin	58.6%	56%	54.7%	64.6%	60.7%	57.5%	57.8%	55.7%	56.2%	55.4%
Research & development	5.2B	5.5B	5.6B	5.4B	6B	7.2B	8.2B	8.8B	8.9B	9B
Selling, general & administrative	2.4B	2.7B	3B	2.2B	2.1B	2.3B	2.6B	2.5B	2.8B	3.1B
Operating expenses	7.3B	9.9B	11.7B	8B	8B	9.5B	9.7B	12.2B	11.8B	12.2B
Operating income	6.5B	2.6B	621M	7.7B	6.3B	9.8B	15.9B	7.8B	10.1B	12.4B
Operating margin	27.6%	11.6%	2.75%	31.6%	26.6%	29.2%	35.9%	21.7%	25.8%	28%
Non-operating income, net	24M	281M	-72M	141M	-90M	961M	-463M	36M	287M	294M
Pretax income	6.8B	3B	392M	7.5B	5.7B	10.3B	15B	7.4B	10.3B	12.7B
Income tax	1.1B	543M	5.4B	3.1B	521M	1.2B	2B	104M	226M	7.1B
Net income	5.7B	2.4B	-5B	4.4B	5.2B	9B	12.9B	7.2B	10.1B	5.5B
Net margin	24.2%	11%	-22%	18.1%	22.1%	26.9%	29.3%	20.2%	26%	12.5%
EBITDA	8.4B	4.6B	2.7B	9.3B	7.8B	11.6B	17.6B	10B	12.7B	14.8B
EPS	3.84	1.67	-3.32	3.63	4.58	7.99	11.5	6.47	9.09	5.05
Diluted EPS	3.81	1.65	-3.32	3.59	4.52	7.87	11.4	6.42	8.97	5.01

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	—	—	—	—	—	—	—	—	11.3B	12.3B	10.6B	9.9B
Cost of revenue	—	—	—	—	—	—	—	—	5B	5.6B	4.9B	4.7B
Gross profit	4.8B	5.6B	5.3B	5.2B	5.8B	6.5B	6B	5.8B	6.2B	6.7B	5.7B	5.3B
Gross margin	—	—	—	—	—	—	—	—	55.3%	54.6%	53.8%	53.1%
Research & development	—	—	—	—	—	—	—	—	2.4B	2.5B	2.5B	2.6B
Selling, general & administrative	—	—	—	—	—	—	—	—	910M	865M	898M	976M
Operating expenses	—	—	—	—	—	—	—	—	3.3B	3.3B	3.4B	3.7B
Operating income	—	—	—	—	—	—	—	—	3B	3.4B	2.3B	1.6B
Operating margin	—	—	—	—	—	—	—	—	26.2%	27.5%	21.8%	16.3%
Non-operating income, net	—	—	—	—	—	—	—	—	41M	214M	-19M	917M
Pretax income	—	—	—	—	—	—	—	—	3B	3.5B	2.2B	2.5B
Income tax	—	—	—	—	—	—	—	—	6.1B	543M	-5.1B	460M
Net income	—	—	—	—	—	—	—	—	-3.1B	3B	7.4B	2B
Net margin	—	—	—	—	—	—	—	—	-27.7%	24.5%	69.5%	20.1%
EBITDA	—	—	—	—	—	—	—	—	3.5B	3.9B	2.8B	2.3B
EPS	1.33	2.48	2.08	1.91	2.62	2.86	2.55	2.44	-2.89	2.81	6.92	1.89
Diluted EPS	1.32	2.46	2.06	1.88	2.59	2.83	2.52	2.43	-2.89	2.78	6.88	1.87

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	101.7B	76.6B	105.4B	—	133.6B	145.9B	126.9B	124.1B	189.8B	182.3B	200.2B
Enterprise value	94.8B	61.2B	109.7B	—	138.1B	149.2B	136B	128.1B	191.1B	187B	219.1B
Shares outstanding	1.5B	1.5B	1.5B	1.2B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	17.8	31.3	—	—	25.7	16.1	9.81	17.2	18.7	32.9	21.8
P/S	4.32	3.44	4.66	—	5.68	4.35	2.87	3.46	4.87	4.12	4.62
P/B	3.2	2.49	130.6	—	22	14.7	7.04	5.75	7.22	8.6	7.29
EV/EBITDA	11.2	13.3	40.9	—	17.6	12.9	7.74	12.8	15.1	12.7	18.3
EV/Sales	4.02	2.75	4.85	—	5.87	4.45	3.08	3.58	4.91	4.22	4.97
Earnings yield	5.61%	3.19%	—	—	3.89%	6.2%	10.2%	5.83%	5.34%	3.04%	4.59%
FCF yield	6.98%	5.63%	2.96%	—	3.3%	5.93%	5.39%	7.94%	5.88%	7.03%	5.11%
PEG	—	—	—	—	—	—	—	—	—	—	-0.97

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	58.6%	56%	54.7%	64.6%	60.7%	57.5%	57.8%	55.7%	56.2%	55.4%	53.1%
Operating margin	27.6%	11.6%	2.75%	31.6%	26.6%	29.2%	35.9%	21.7%	25.8%	28%	18.5%
Net margin	24.2%	11%	-22%	18.1%	22.1%	26.9%	29.3%	20.2%	26%	12.5%	21%
ROE	17.9%	7.95%	-615.1%	89.3%	85.5%	90.9%	71.8%	33.5%	38.6%	26.1%	33.8%
ROA	10.9%	3.73%	-15.2%	13.3%	14.6%	21.9%	26.4%	14.2%	18.4%	11.1%	11.6%
ROIC	21.8%	13.8%	0%	52.4%	53.7%	64.9%	50.6%	29.9%	35.7%	21%	24.5%
Return on tangible assets	16.8%	5.46%	-35.9%	27.3%	26.5%	37.9%	53.4%	26.8%	32.6%	22%	35.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.14	4	1.53	1.88	2.14	1.68	1.75	2.33	2.4	2.82	2.02
Quick ratio	2.93	3.81	1.38	1.72	1.84	1.41	1.21	1.67	1.79	2.1	1.28
Debt / equity	0.37	0.71	20.3	3.25	2.59	1.58	0.86	0.71	0.56	0.7	0.55
Debt / assets	0.22	0.33	0.5	0.48	0.44	0.38	0.32	0.3	0.27	0.3	0.27
Net debt / EBITDA	-0.82	-3.36	1.6	0.4	0.58	0.29	0.52	0.41	0.11	0.32	0.55
Interest coverage	24	7.05	1.51	12.9	10.5	19.4	31.6	11.7	15.8	20.1	17.3
Effective tax rate	16.6%	18.2%	100%	41.4%	9.11%	12%	13.4%	1.4%	2.19%	56.2%	17.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	15.9	15.1	15.5	20.1	20.7	29.7	39.4	32.1	34.9	40.4	41.3
EPS (basic)	3.84	1.67	-3.32	3.63	4.58	7.99	11.5	6.47	9.09	5.05	5.05
EPS (diluted)	3.81	1.65	-3.32	3.59	4.52	7.87	11.4	6.42	8.97	5.01	8.75
Book value per share	21.4	20.8	0.55	4.06	5.35	8.8	16	19.3	23.5	19.3	26.2
FCF per share	4.78	2.92	2.14	5.29	3.88	7.65	6.09	8.82	10	11.7	9.74
Cash per share	12.6	25.3	8.26	10.1	9.88	11	5.68	10.1	11.9	9.27	7.91
Capex per share	0.01	0.02	—	—	—	0	0	0.11	0.01	1.09	1.86

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.07%	0.13%	—	—	—	0.01%	0.01%	0.35%	0.03%	2.69%	4.5%
Capex / operating cash flow	0.2%	0.95%	—	—	—	0.03%	0.05%	1.1%	0.09%	8.51%	16%
Payout ratio	52.4%	133.1%	-69.8%	67.7%	55.4%	33.3%	24.8%	47.9%	36.4%	68.7%	41%
Dividend yield	2.94%	4.25%	3.29%	—	2.16%	2.06%	2.53%	2.79%	1.94%	2.09%	1.96%

Yield

1.96%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.92

ex-dividend Sep 3, 2026

Payout ratio

41%

of earnings

Dividend growth

12 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 3, 2026	$0.92
Jun 4, 2026	$0.92
Mar 5, 2026	$0.89
Dec 4, 2025	$0.89

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	—	—	—	—	—	—	—	—	$11.3B	$12.3B	$10.6B	$9.9B
YoY change	—	—	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	18.6B	37.3B	12.1B	12.3B	11.2B	12.4B	6.4B	11.3B	13.3B	10.2B
Receivables	2.2B	3.6B	2.7B	1B	2.7B	2.2B	4.2B	1.9B	2.3B	2.9B
Inventory	1.6B	2B	1.7B	1.4B	2.6B	3.2B	6.3B	6.4B	6.4B	6.5B
Total current assets	23B	43.6B	17.4B	16.8B	18.5B	20.1B	20.7B	22.5B	25.2B	25.8B
Property, plant & equipment	761M	1.6B	1.4B	1.5B	2.1B	2.9B	3.4B	3.2B	2.8B	2.8B
Goodwill & intangibles	18.4B	20.7B	18.9B	16.9B	16B	17.4B	24.8B	24.1B	24.1B	25B
Total assets	52.4B	65.5B	32.7B	33B	35.6B	41.2B	49B	51B	55.2B	50.1B
Accounts payable	1.9B	2B	1.8B	1.4B	2.2B	2.8B	3.8B	1.9B	2.6B	2.8B
Short-term debt	1.7B	2.5B	1B	2.5B	500M	2B	1.9B	914M	1.4B	—
Total current liabilities	7.3B	10.9B	11.4B	8.9B	8.7B	12B	11.9B	9.6B	10.5B	9.1B
Long-term debt	10B	19.4B	15.4B	13.4B	15.2B	13.7B	13.5B	14.5B	13.3B	14.8B
Total liabilities	20.6B	34.7B	31.9B	28B	29.5B	31.3B	31B	29.5B	28.9B	28.9B
Shareholders' equity	31.8B	30.7B	807M	4.9B	6.1B	9.9B	18B	21.6B	26.3B	21.2B
Total debt	11.8B	21.9B	16.4B	15.9B	15.7B	15.7B	15.5B	15.4B	14.6B	14.8B
Net debt	5.8B	-13.1B	4.6B	4.1B	9B	8.6B	12.7B	6.9B	6.8B	9.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	11.3B	12.1B	13.9B	13B	13.3B	14.3B	13.8B	10B	10.2B	11.8B	9.8B	8.3B
Receivables	1.9B	3.5B	3.1B	2.9B	2.3B	3.5B	3.7B	3.4B	2.9B	4.2B	4.3B	4.7B
Inventory	6.4B	6.2B	6.1B	6B	6.4B	6.3B	6.2B	6.3B	6.5B	6.7B	7.4B	8.4B
Total current assets	22.5B	23.4B	24.2B	23.3B	25.2B	26.1B	26.1B	24.9B	25.8B	24.6B	23.1B	23B
Property, plant & equipment	3.2B	—	—	—	2.8B	—	—	—	2.8B	—	—	—
Goodwill & intangibles	24.1B	24.2B	24.2B	24.1B	24.1B	24.3B	24.3B	25.1B	25B	31.6B	31.7B	31.6B
Total assets	51B	52.1B	53.2B	52.7B	55.2B	55.6B	55.4B	54.9B	50.1B	53B	57.1B	57.4B
Accounts payable	1.9B	2.1B	2.3B	2.6B	2.6B	2.6B	2.5B	2.3B	2.8B	2.7B	3B	2.9B
Short-term debt	914M	914M	914M	1.4B	1.4B	1.4B	1.4B	—	—	—	498M	2.5B
Total current liabilities	9.6B	9.2B	9.1B	9.7B	10.5B	10B	9.5B	7.8B	9.1B	9.8B	9.8B	11.4B
Long-term debt	14.5B	14.6B	14.5B	13.2B	13.3B	13.2B	13.3B	14.8B	14.8B	14.8B	14.8B	12.8B
Total liabilities	29.5B	29.1B	28.7B	28.1B	28.9B	28.7B	27.6B	27.7B	28.9B	30B	29.9B	29.7B
Shareholders' equity	21.6B	23.1B	24.5B	24.7B	26.3B	26.9B	27.7B	27.2B	21.2B	23.1B	27.3B	27.7B
Total debt	15.4B	15.5B	15.5B	14.6B	14.6B	14.6B	14.6B	14.8B	14.8B	14.8B	15.3B	15.3B
Net debt	6.9B	7.3B	6.2B	6.8B	6.8B	5.9B	7.4B	9.3B	9.3B	7.6B	9.8B	10.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	5.7B	2.4B	-5B	4.4B	5.2B	9B	13B	7.3B	10.1B	5.5B
Depreciation & amortization	1.4B	1.5B	1.6B	1.4B	1.4B	1.6B	1.8B	1.8B	1.7B	1.6B
Stock-based compensation	943M	914M	883M	1B	1.2B	1.7B	2B	2.5B	2.6B	2.8B
Change in working capital	199M	-1.4B	767M	1.2B	-2.1B	-1.6B	-6.8B	1.1B	177M	649M
Operating cash flow	8.1B	2.9B	2.7B	9.7B	5.2B	10.4B	9.8B	11.5B	11.5B	14B
Capital expenditure	16M	28M	—	—	—	3M	5M	127M	10M	-1.2B
Investing cash flow	-3.2B	21.2B	3.2B	81M	-3.9B	-1.5B	-3.5B	829M	-2.6B	-814M
Dividends paid	-3B	-3.3B	-3.5B	-3B	-2.9B	-3B	-3.2B	-3.5B	-3.7B	-3.8B
Share repurchases	-3.9B	-1.3B	-22.6B	-1.8B	-2.5B	-3.4B	-3.1B	-3B	-4.1B	-8.8B
Financing cash flow	-14B	-3.7B	-42.6B	-12.9B	-8.6B	-9.7B	-14.2B	-12.2B	-10.1B	-14.2B
Net change in cash	-9B	20.4B	-36.8B	-3.1B	-7.2B	-742M	-7.9B	193M	-1.2B	-996M
Free cash flow	7.1B	4.3B	3.1B	6.4B	4.4B	8.6B	6.8B	9.8B	11.2B	12.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	—	—	—	—	—	—	—	—	-3.1B	3B	7.4B	2B
Depreciation & amortization	—	—	—	—	—	—	—	—	371M	393M	413M	396M
Stock-based compensation	—	—	—	—	—	—	—	—	663M	888M	861M	830M
Change in working capital	172M	241M	179M	271M	-9M	11M	-108M	-123M	-63M	494M	-184M	-1.7B
Operating cash flow	172M	241M	179M	271M	-9M	11M	-108M	-123M	4B	5B	2.4B	991M
Capital expenditure	—	—	—	—	—	—	—	—	-407M	-549M	-533M	-496M
Investing cash flow	—	—	—	—	—	—	—	—	-485M	-1.7B	-501M	574M
Dividends paid	—	—	—	—	—	—	—	—	-957M	-949M	-946M	-973M
Share repurchases	—	—	—	—	—	—	—	—	-2.4B	-2.6B	-2.8B	-1.4B
Financing cash flow	—	—	—	—	—	—	—	—	-3.4B	-3.9B	-4.4B	-4.5B
Net change in cash	172M	241M	179M	271M	-9M	11M	-108M	-123M	75M	-638M	-2.5B	-2.9B
Free cash flow	—	—	—	—	—	—	—	—	3.6B	4.4B	1.9B	495M

Date	Ratio
Aug 16, 2004	2:1
Dec 31, 1999	4:1
May 11, 1999	2:1
Feb 24, 1994	2:1

QUALCOMM Incorporated Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history