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Not Investment Advice

QCOM

NASDAQ · USD
QUALCOMM Incorporated
Technology · Semiconductors
CEO Cristiano Renno Amon Employees 52,000 R&D / revenue 20.4%
Last price
$172.11−3.53%last session
Market cap
$183.8B
P/E (TTM)
19.6x
From 52w high
−33.8%
From 52w low
+41.1%
1-year return
+7.1%
RSI 14 · vs SMA200
43.2 · +2.4%
IS score
61.4/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

QCOM   SPY   XLK (sector ETF) · weekly closes
80100120140Jan 26Apr 26Jul 26Oct 26XLK 129SPY 116QCOM 107

Score DNA

Each bar is a 0-100 score within the scored universe
78
Profitability
29
Growth
55
Value
59
Momentum
100
Risk (safety)
80
Quality
80
Balance sheet
78
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Congress buying
Warnings
None of the computed warning flags fires for QCOM (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 5 / 9Altman Z 6.4Beta 1.683 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
74 open-market sales, $11.7M
Form 144 notices (12m): 36, $26.4M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
11
Last disclosed purchase 2026-09-11
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+303
468 new holders, 135 closed
3,043 filers hold 81.6% · 943 added, 1,358 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+424
1,888 funds adding shares
1,464 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
57.1%
20-day avg 54.5%, 50-day avg 49.0%
Latest 2.6 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$44.3B
Revenue growth YoY+13.7%
Gross margin55.4%
Operating income$12.4B
Operating margin27.9%
Net income$5.5B
Net margin12.5%
EPS (diluted)$5.01
Cash flow
Operating cash flow$14.0B
Capital expenditure$1.2B
Free cash flow$12.8B
FCF conversion (FCF / OCF)91.5%
Stock-based compensation$2.8B
FCF less SBC$10.0B
Buybacks$8.8B
Dividends$3.8B
Balance sheet & returns
Cash & short-term investments$12.5B
Total debt$15.6B
Net debt$3.2B
Shareholders' equity$21.2B
Goodwill & intangibles$12.5B
Debt / equity0.55
ROE (TTM)37.3%
ROIC (TTM)17.4%
Operating margin by fiscal year
29.2%FY202135.9%FY202221.7%FY202325.8%FY202427.9%FY2025
Revenue $33.6B (FY2021) to $44.3B (FY2025), a 7.2% CAGR.

Valuation

P/E (TTM)19.6x
EV / EBITDA14.4x
Price / sales4.17x
Price / FCF17.6x
FCF yield5.67%
Buyback yield4.78%
SBC / revenue7.4%
Price / book6.58x
Forward P/E FY202717.0x
Forward P/E FY202813.2x
Forward multiples divide today's price by Street EPS estimates. Street mean target $202.79 across 14 analysts last quarter is theirs, not ours.

QCOM vs industry median

196 companies in Semiconductors
Gross margin 54.2% 45.0% Operating margin 23.2% 5.8% Net margin 21.0% 5.7% ROIC 17.4% 6.2%
QCOM (TTM)Industry median Asset turnover 0.77 vs industry 0.52 · financial leverage 2.07

Earnings delivery

Next report 2026-11-04 · consensus EPS $2.17
92%
beat rate, 11 of 12 quarters
+4.0%
median EPS surprise
11
longest beat streak
+5+16+5+4+5+15+1+2+5+3+4-1
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-01 to 2026-07-29. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
QCOM QUALCOMM Incorporated $183.8B19.6x37.3%21.0%+13.7% +7.1%
ADI Analog Devices, Inc. $191.6B46.7x12.2%33.3%+33.6% +65.7%
MRVL Marvell Technology, Inc. $199.5B74.7x16.5%11.2%+30.6% +158.2%
KLAC KLA Corporation $216.3B45.0x87.5%37.3%+11.7% +51.7%
ARM Arm Holdings plc American De $243.3B234.8x13.4%20.9%+25.1% +33.1%
TXN Texas Instruments Incorporat $252.5B41.8x35.2%36.2%+16.7% —
AMAT Applied Materials, Inc. $324.8B35.1x41.1%27.8%+7.8% —
LRCX Lam Research Corporation $330.3B45.6x65.1%33.9%+26.0% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-09-08Unregistered Equity Sales
2026-07-31Other Events; Exhibits
2026-07-29Earnings Release; Exhibits
2026-06-24Unregistered Equity Sales
2026-04-29Earnings Release; Exhibits
2026-02-04Results of Operations and Financial Condition; Financial Statements and Exhibits

Context

Shares outstanding1,067,839,507
Free float98.2%
Institutional ownership81.6%
Beta1.68
Dividend yield2.10%
Last dividend$0.92 on 2026-09-03
50 / 200-day average$174.77 / $169.37
Large-cap Technology median P/E34.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where QCOM sits among 76 scored companies in Semiconductors (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureQCOMIndustry medianIndustry percentileSector median
P/E (TTM) 19.8x 45.9x
12th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) 4.77 2.30
89th		 1.36
Price / sales 4.2x 8.1x
29th		 3.9x
Price / book 6.6x 5.5x
59th		 4.4x
Price / tangible book 17.1x 10.3x
67th		 8.8x
Price / free cash flow 17.6x 57.4x
7th		 20.3x
Price / operating cash flow 14.8x 38.7x
12th		 17.9x
Enterprise value $190.8B $6.8B
84th		 $5.5B
EV / sales 4.3x 8.4x
32nd		 4.1x
EV / EBITDA 14.2x 28.1x
16th		 18.9x
EV / EBIT 16.0x 38.4x
13th		 26.7x
EV / free cash flow 18.3x 57.4x
9th		 21.9x
Earnings yield 5.0% 1.2%
92nd		 2.0%
FCF yield 5.7% 1.4%
95th		 3.3%
Operating cash flow yield 6.7% 2.0%
91st		 4.4%
Graham number (per share) $71.01 $34.80
83rd		 $28.08

Profitability (TTM)

MeasureQCOMIndustry medianIndustry percentileSector median
Gross margin 54.2% 48.5%
68th		 55.7%
EBITDA margin 30.6% 18.7%
72nd		 13.7%
Operating margin 23.2% 10.1%
77th		 8.2%
EBIT margin 27.0% 12.1%
77th		 8.6%
Net margin 21.0% 9.4%
75th		 5.7%
NOPAT margin 19.1% 9.3%
72nd		 7.0%
FCF margin 23.6% 12.0%
81st		 15.0%
Operating cash flow margin 28.1% 18.3%
81st		 18.4%
R&D / revenue 22.4% 17.5%
63rd		 12.9%
SG&A / revenue 8.3% 14.9%
19th		 25.6%
Stock comp / revenue 7.4% 3.9%
67th		 4.4%
Effective tax rate 17.4% 17.4%
52nd		 21.0%

Returns on capital

MeasureQCOMIndustry medianIndustry percentileSector median
ROE (on average equity) 33.8% 6.8%
89th		 9.4%
ROA 16.5% 4.2%
81st		 4.1%
ROIC 24.4% 7.9%
76th		 9.0%
ROCE 25.9% 6.6%
88th		 8.6%
Return on tangible assets 21.2% 5.7%
85th		 5.9%
Cash ROIC (OCF / invested capital) 35.8% 14.1%
82nd		 20.7%
Gross profitability (GP / assets) 41.7% 21.5%
88th		 30.0%
ROIC, 3-yr average 25.1% 6.8%
84th		 7.4%
ROIC, 5-yr average 34.3% 16.5%
76th		 7.9%
ROE, 5-yr average 46.6% 10.9%
95th		 6.9%
Incremental ROIC -120.5% 13.4%
11th		 15.3%

Growth

MeasureQCOMIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 1.9% 17.8%
19th		 14.3%
Revenue growth (QoQ) -6.2% 13.2%
1st		 6.6%
Revenue CAGR, 3 yr 4.5% 3.5%
53rd		 9.6%
Revenue CAGR, 5 yr 6.2% 6.5%
47th		 11.5%
Gross profit CAGR, 3 yr 3.2% 2.6%
52nd		 10.9%
Operating income CAGR, 3 yr 0.6% -2.2%
55th		 11.3%
Net income growth (TTM YoY) -20.0% 35.4%
20th		 21.6%
Net income CAGR, 3 yr 2.4% 1.9%
56th		 9.9%
EPS growth (TTM YoY) -17.8% 37.4%
20th		 22.3%
EPS CAGR, 3 yr 4.2% -0.5%
59th		 11.2%
EPS CAGR, 5 yr 1.5% 7.5%
34th		 12.0%
FCF growth (TTM YoY) -10.4% 31.5%
24th		 24.6%
FCF CAGR, 3 yr 14.9% 2.9%
59th		 19.3%
Operating cash flow CAGR, 3 yr 12.7% 4.1%
60th		 17.9%
Book value CAGR, 3 yr 12.1% 7.2%
64th		 6.8%
Dividend CAGR, 3 yr 1.9% 1.9%
48th		 3.1%
Sustainable growth rate 19.8% 10.7%
73rd		 14.2%

Margin history & stability

MeasureQCOMIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 55.3% 47.6%
71st		 53.2%
Operating margin, 3-yr average 24.9% 8.0%
82nd		 6.6%
Net margin, 3-yr average 23.7% 7.9%
83rd		 5.2%
FCF margin, 3-yr average 28.1% 11.5%
90th		 12.7%
Revenue stability (0-1) 0.90 0.58
81st		 0.87
Earnings stability (0-1) 0.01 0.36
7th		 0.45
Margin stability (0-1) 0.96 0.93
76th		 0.95

Liquidity (latest quarter)

MeasureQCOMIndustry medianIndustry percentileSector median
Cash & short-term investments $8.3B $667.9M
92nd		 $494.1M
Net cash (− = net debt) −$7.0B $201.8M
5th		 $49.8M
Working capital $11.6B $953.3M
91st		 $391.0M
Current ratio 2.02 3.45
17th		 1.92
Quick ratio 1.28 2.56
13th		 1.67
Cash ratio (cash + ST investments / current liabilities) 0.73 1.60
17th		 0.95
Defensive interval (days) 346 days 778 days
11th		 521 days

Leverage & solvency (latest quarter)

MeasureQCOMIndustry medianIndustry percentileSector median
Total debt $15.3B $307.1M
96th		 $349.3M
Debt / equity 0.55 0.17
72nd		 0.29
Net debt / equity 0.25 −0.19
81st		 −0.13
Debt / assets 26.6% 11.2%
72nd		 16.9%
Debt / capital 35.6% 14.8%
72nd		 22.3%
Debt / EBITDA 1.13 1.14
48th		 1.78
Net debt / EBITDA 0.52 −0.82
77th		 −0.18
Interest coverage (EBIT / interest) 17.3x 12.4x
61st		 5.8x
Cash interest coverage 18.0x 15.4x
57th		 12.8x
Debt payback (years of OCF) 1.2 yrs 1.2 yrs
50th		 1.6 yrs
Liabilities / assets 51.8% 30.8%
83rd		 48.7%
IS credit model rating AA — —
Implied credit spread (bps) 80 125
19th		 175

Efficiency

MeasureQCOMIndustry medianIndustry percentileSector median
Asset turnover 0.79 0.52
81st		 0.62
Fixed asset turnover 8.45 4.69
80th		 9.25
Inventory turnover 2.7 2.7
55th		 3.8
Receivables turnover 10.9 6.3
88th		 6.2
Days sales outstanding 33 days 58 days
12th		 59 days
Days inventory outstanding 133 days 137 days
45th		 94 days
Days payables outstanding 47 days 50 days
44th		 46 days
Cash conversion cycle (days) 119 days 129 days
43rd		 50 days
Capex / revenue 4.5% 4.5%
51st		 2.3%
Capex / depreciation 1.26 0.94
70th		 0.56
Operating expense ratio 36.7% 32.6%
62nd		 44.3%

Cash flow & earnings quality

MeasureQCOMIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.34 1.34
48th		 1.61
FCF / net income 1.12 0.88
63rd		 1.33
FCF / operating cash flow 84.0% 75.0%
68th		 88.0%
Capex / operating cash flow 16.0% 25.0%
32nd		 12.0%
Accruals ratio -5.6% -4.4%
44th		 -6.3%
Sloan accruals ratio -12.6% 2.2%
3rd		 -1.8%
Earnings quality score (0-1) 0.75 0.75
15th		 0.75

Dividends & buybacks

MeasureQCOMIndustry medianIndustry percentileSector median
Dividend yield 2.1% 0.0%
95th		 0.0%
Dividend per share (TTM) $3.62 $0.00
93rd		 $0.00
Payout ratio (dividends / net income) 41.3% 5.0%
85th		 0.0%
Dividends / FCF 36.7% 0.0%
80th		 0.0%
Dividend growth (YoY) 3.6% 3.6%
48th		 4.1%
Buyback yield 5.0% 0.1%
99th		 1.2%
Shareholder yield (dividends + buybacks) 7.1% 0.3%
100th		 1.7%
Share count change (YoY) -2.7% 1.6%
4th		 0.1%
Buybacks, last 5 years $46.1B $67.3M
99th		 $215.3M

Scores & forensic checks

MeasureQCOMIndustry medianIndustry percentileSector median
IS score 61 59
56th		 56
IS profitability 78 43
77th		 40
IS growth 29 69
12th		 65
IS value 55 36
92nd		 39
IS momentum 59 79
29th		 78
IS risk (safety) 100 100
12th		 100
IS quality 80 70
73rd		 67
IS balance sheet 80 84
37th		 72
IS earnings quality 78 65
95th		 61
IS cash flow 69 58
65th		 66
Piotroski F-score (0-9) 5 6
24th		 6
Altman Z-score 6.4 12.3
31st		 4.0
Beneish M-score −2.36 −2.45
55th		 −2.58
Ohlson O-score −9.62 −9.33
45th		 −8.00
IS credit score 87 78
67th		 69

Per share

MeasureQCOMIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $8.66 $1.49
92nd		 $0.84
Book value per share $25.87 $17.90
69th		 $9.77
Tangible book per share $11.23 $11.01
52nd		 $3.22
Revenue per share $41.22 $13.47
92nd		 $13.00
FCF per share $9.74 $1.50
92nd		 $1.78
Operating cash flow per share $11.60 $2.35
95th		 $2.40
Cash per share $7.77 $6.31
61st		 $4.50

Size (TTM)

MeasureQCOMIndustry medianIndustry percentileSector median
Market cap $183.8B $6.8B
84th		 $4.7B
Revenue $44.1B $1.1B
95th		 $1.2B
EBITDA $13.5B $207.9M
96th		 $185.8M
Net income $9.3B $119.3M
95th		 $84.9M
Free cash flow $10.4B $114.6M
96th		 $170.6M
Total assets $57.4B $2.3B
93rd		 $2.4B
Shareholders' equity $27.7B $1.4B
92nd		 $1.1B
Employees 52,000 2,286
96th		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-16Chaplin Ann C
EVP, GenCounsel&CorpSecretary
 Open-market sale 1,827$174.75$319,26825,770
2026-10-15Ace Heather S
EVP, Chief HR Officer
 Option exercise 5,177——41,712
2026-10-15Ace Heather S
EVP, Chief HR Officer
 Tax withholding 1,790$178.40$319,33639,922
2026-10-15Ace Heather S
EVP, Chief HR Officer
 Option exercise 5,178——5,179
2026-10-15Rogers Alexander H
EVP, Pres QTL & Global Affairs
 Option exercise 5,798——32,052
2026-10-15Rogers Alexander H
EVP, Pres QTL & Global Affairs
 Tax withholding 1,901$178.40$339,13830,151
2026-10-15Rogers Alexander H
EVP, Pres QTL & Global Affairs
 Option exercise 5,799——5,800
2026-10-15Palkhiwala Akash J.
EVP, CFO & COO
 Option exercise 8,284——26,566
2026-10-15Palkhiwala Akash J.
EVP, CFO & COO
 Tax withholding 3,267$178.40$582,83323,299
2026-10-15Palkhiwala Akash J.
EVP, CFO & COO
 Option exercise 8,284——8,285
2026-10-15Chaplin Ann C
EVP, GenCounsel&CorpSecretary
 Option exercise 5,592——29,536
2026-10-15Chaplin Ann C
EVP, GenCounsel&CorpSecretary
 Tax withholding 1,939$178.40$345,91827,597

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired41,150—
Open-market saleDisposed7462,679$11.7M
Option exerciseDisposed1752,354—
Option exerciseAcquired1752,345—
Tax withholdingDisposed819,965$3.6M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 36 notices · 151,340 shares · $26.4M
FiledFilerShares proposedEst. proceeds
2026-10-16Ann Chaplin1,827$319,268
2026-10-02Grech Family Trust U/A Dtd 03/10/201598$18,282
2026-09-25Cristiano Amon10,000$2.0M
2026-09-21Cristiano Amon10,000$1.9M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 21 trades (10 purchases) · Senate 1 (1 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-11Ro KhannaHousePurchase$15,001 - $50,0002026-10-09
2026-09-04Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-08-24Ro KhannaHousePurchase$15,001 - $50,0002026-09-07
2026-08-19Maria Elvira SalazarHouseSale$1,001 - $15,0002026-09-10
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-21
2025-04-15Tommy TubervilleSenateSale$15,001 - $50,0002026-08-05
2025-04-15Thomas Hawley TubervilleSenateSale$15,001 - $50,0002026-08-05
2025-04-15Tommy TubervilleSenateSale$15,001 - $50,0002025-05-15
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.95,151,875$17.6B8.91%
VANGUARD CAPITAL MANAGEMENT LLC68,837,417$12.7B6.45%
STATE STREET CORP52,763,263$9.8B4.94%
Invesco Ltd.36,101,702$6.7B3.38%
VANGUARD PORTFOLIO MANAGEMENT LLC33,847,770$6.3B3.17%
GEODE CAPITAL MANAGEMENT, LLC29,645,446$5.5B2.78%
Sixth Street Partners Management Company, L.P.22,310,002$4.1B2.09%
CHARLES SCHWAB INVESTMENT MANAGEMENT INC22,310,002$4.1B2.09%
VAN ECK ASSOCIATES CORP17,202,619$3.2B1.61%
NORGES BANK16,209,022$3.0B1.52%
PRICE T ROWE ASSOCIATES INC /MD/12,624,030$2.3B1.18%
MORGAN STANLEY11,292,703$2.1B1.06%
GOLDMAN SACHS GROUP INC11,241,343$2.1B1.05%
Amundi10,195,741$1.9B0.95%
BANK OF AMERICA CORP /DE/9,954,402$1.8B0.93%

Institutional ownership by quarter

2023-092026-0681.6%
% of shares held by 13F filers
2023-092026-063,043
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-303,04381.6%4689431,358135
2026-03-312,74078.9%1651,0071,307366
2025-12-312,98378.8%3781,1811,090117
2025-09-302,78376.4%1831,0791,140138
2025-06-302,78978.2%1831,1281,161140
2025-03-312,78778.4%1861,265992154
2024-12-312,79779.0%3471,1071,045177
2024-09-302,67879.6%1471,212997227
2024-06-302,78780.7%3081,0181,141117
2024-03-312,63380.2%2719691,098122
2023-12-312,52178.7%4238191,030110
2023-09-302,25277.5%134924927164

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-08-07SCHEDULE 13GSTATE STREET CORPORATION5.0%52,822,532
2026-04-30SCHEDULE 13GVanguard Capital Management7.5%80,227,136
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.26%$6.1B
VTSAX0.26%$6.1B
VSMPX0.26%$6.1B
VTI0.26%$6.1B
VFFSX0.30%$5.2B
VFINX0.30%$5.2B

Share structure

Shares outstanding1,067,839,507
Float1,048,459,026
Free float98.2%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$33.6B$44.2B$35.8B$39.0B$44.3B
Cost of revenue$14.3B$18.6B$15.9B$17.1B$19.7B
Gross profit$19.3B$25.6B$20.0B$21.9B$24.5B
R&D$7.2B$8.2B$8.8B$8.9B$9.0B
SG&A$2.3B$2.6B$2.5B$2.8B$3.1B
Operating income$9.8B$15.9B$7.8B$10.1B$12.4B
EBITDA$11.4B$17.2B$9.9B$12.7B$14.9B
Pretax income$10.3B$15.0B$7.4B$10.3B$12.7B
Income tax$1.2B$2.0B$104.0M$226.0M$7.1B
Net income$9.0B$12.9B$7.2B$10.1B$5.5B
EPS, diluted$7.87$11.38$6.42$8.98$5.01
Diluted shares1.1B1.1B1.1B1.1B1.1B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$12.4B$6.4B$11.3B$13.3B$12.5B
Receivables$3.6B$5.6B$3.2B$3.9B$4.3B
Inventory$3.2B$7.0B$6.4B$6.4B$8.0B
Total current assets$20.1B$20.7B$22.5B$25.2B$25.8B
PP&E, net$4.6B$5.2B$5.0B$4.7B$4.7B
Goodwill & intangibles$8.7B$12.4B$12.1B$12.0B$12.5B
Total assets$41.2B$49.0B$51.0B$55.2B$50.1B
Accounts payable$2.8B$3.8B$1.9B$2.6B$2.8B
Total current liabilities$12.0B$11.9B$9.6B$10.5B$9.1B
Long-term debt$13.7B$13.5B$14.5B$13.3B$15.5B
Total liabilities$31.3B$31.0B$29.5B$28.9B$28.9B
Shareholders' equity$9.9B$18.0B$21.6B$26.3B$21.2B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$9.0B$13.0B$7.3B$10.1B$5.5B
Depreciation & amortization$1.6B$1.8B$1.8B$1.7B$1.6B
Stock-based compensation$1.7B$2.0B$2.5B$2.6B$2.8B
Change in working capital−$461.0M−$7.8B$1.1B$1.2B$414.0M
Operating cash flow$10.5B$9.1B$11.3B$12.2B$14.0B
Capital expenditure−$1.9B−$2.3B−$1.4B−$1.0B−$1.2B
Free cash flow$8.6B$6.8B$9.8B$11.2B$12.8B
Investing cash flow−$3.4B−$5.8B$762.0M−$3.6B−$800.0M
Net debt issued / repaid$1.0M−$415.0M−$64.0M−$914.0M$122.0M
Buybacks−$3.4B−$3.1B−$3.0B−$4.1B−$8.8B
Dividends paid−$3.0B−$3.2B−$3.5B−$3.7B−$3.8B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin57.5%57.8%55.7%56.2%55.4%
Operating margin29.2%35.9%21.7%25.8%27.9%
Net margin26.9%29.3%20.2%26.0%12.5%
FCF margin25.8%15.5%27.5%28.6%28.9%
ROE112.8%92.5%36.5%42.4%23.3%
ROIC62.3%49.4%29.2%34.7%21.5%
ROA23.5%28.7%14.5%19.1%10.5%
Debt / equity1.640.900.740.590.77
Interest coverage17.5x30.1x11.6x14.8x19.6x
Current ratio1.681.752.332.402.82
Revenue growth+42.6%+31.7%−19.0%+8.8%+13.7%
EPS growth+74.6%+44.7%−43.8%+39.6%−44.1%
P/E at year end14.9x9.2x16.5x18.4x33.6x
EV / EBITDA at year end12.2x7.8x12.6x15.7x13.0x
FCF yield at year end6.43%5.76%8.27%5.97%6.89%
Dividend payout33.3%24.8%47.9%36.4%68.7%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
QCT$27.0B$37.7B$30.4B$33.2B$38.4B
QTL$6.3B$6.4B$5.3B$5.6B$5.6B
Other Segments$128.0M$134.0M$144.0M——
QSI$45.0M$31.0M$28.0M$18.0M—

Street estimates by fiscal year

Next report 2026-11-04 · consensus EPS $2.17 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$43.0B$42.6B – $43.3B$10.54$10.43 – $10.811816.3x
2027$45.0B$42.0B – $47.0B$10.12$9.40 – $12.222117.0x
2028$52.2B$44.9B – $59.0B$13.02$11.05 – $15.28913.2x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-29$2.23$2.21−0.9%$9.7B$9.9B+2.6%
2026-04-29$2.56$2.65+3.5%$10.6B$10.6B+0.1%
2026-02-04$3.39$3.50+3.2%$12.1B$12.3B+1.1%
2025-11-05$2.87$3.00+4.5%$10.8B$11.3B+4.7%
2025-07-30$2.71$2.77+2.2%$10.3B$10.4B+0.3%
2025-04-30$2.82$2.85+1.1%$10.6B$11.0B+3.1%
2025-02-05$2.96$3.41+15.2%$10.9B$11.7B+6.9%
2024-11-06$2.56$2.69+5.1%$9.9B$10.2B+3.4%
2024-07-31$2.25$2.33+3.6%$9.2B$9.4B+1.9%
2024-05-01$2.32$2.44+5.2%$9.4B$9.4B+0.4%
2024-01-31$2.37$2.75+16.0%$9.5B$9.9B+4.5%
2023-11-01$1.92$2.02+5.2%$8.0B$8.6B+7.5%
2023-08-02$1.81$1.87+3.3%$8.5B$8.5B−0.6%
2023-05-03$2.16$2.15−0.5%$9.1B$9.3B+1.9%
2023-02-02$2.34$2.37+1.3%$9.6B$9.5B−1.4%
2022-11-02$3.13$3.130.0%$11.4B$11.4B+0.3%
2022-07-27$2.87$2.96+3.1%$10.9B$10.9B+0.7%
2022-04-27$2.91$3.21+10.3%$10.6B$11.2B+5.0%
2022-02-02$3.01$3.23+7.3%$10.4B$10.7B+2.5%
2021-11-03$2.26$2.55+12.8%$8.9B$9.3B+5.4%
2021-07-28$1.68$1.92+14.3%$8.9B$8.1B−9.0%
2021-04-28$1.67$1.90+13.8%$6.8B$7.9B+16.0%
2021-02-03$2.10$2.17+3.3%$8.0B$8.2B+3.4%
2020-11-04$1.19$1.45+21.8%$6.7B$8.3B+23.9%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
3.006-155.906-222.806-292.007-062.807-131.607-203.307-271.908-031.208-101.408-171.208-241.608-31
Week ofNotionalSharesTrades
2026-08-31$1.6B9,603,248171,449
2026-08-24$1.2B7,466,725156,905
2026-08-17$1.4B8,889,331182,664
2026-08-10$1.2B7,301,662154,068
2026-08-03$1.9B11,803,810208,602
2026-07-27$3.3B21,149,816318,804

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1557.1%
DateShort shareShort volumeTotal volume
2026-10-1557.1%2,145,2603,758,801
2026-10-1457.7%1,895,1023,286,651
2026-10-1353.1%2,239,4714,218,430
2026-10-1249.4%1,267,5642,566,953
2026-10-0947.1%1,543,3733,273,886
2026-10-0851.3%1,767,9263,446,356
2026-10-0764.5%1,918,6702,974,863
2026-10-0651.8%1,709,2433,296,788
2026-10-0567.4%2,737,4694,062,717
2026-10-0248.0%1,477,3053,079,887
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-1.1Jan+0.2Feb+0.7Mar+1.5Apr+1.8May-0.7Jun+4.3Jul+0.6Aug-0.7Sep+1.4Oct+4.2Nov+1.9Dec
MonthAvg returnUp yearsYears
Jan−1.1%55%20
Feb+0.2%50%20
Mar+0.7%57%21
Apr+1.5%40%20
May+1.8%60%20
Jun−0.7%40%20
Jul+4.3%60%20
Aug+0.6%50%20
Sep−0.7%45%20
Oct+1.4%65%20
Nov+4.2%60%20
Dec+1.9%65%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1443.2
MFI30.0
ADX12.3
Stochastic %K / %D17.2 / 15.1
Williams %R-84.6
CCI-88
TSI / signal-4.3 / 4.5
Chaikin money flow-0.03
ATR$7.24
Bollinger width19.3%
Volume vs 20-day avg1.13x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$183.67 (−6.3%)
SMA 50$174.67 (−1.5%)
SMA 200$168.08 (+2.4%)
EMA 21$178.93 (−3.8%)
EMA 50$177.99 (−3.3%)
EMA 200$172.14 (−0.0%)
Bollinger upper$201.41 (−14.5%)
Bollinger lower$165.93 (+3.7%)
Parabolic SAR$182.72 (−5.8%)
Open the live chart, 110+ indicators

About QUALCOMM Incorporated

QUALCOMM Incorporated is a company dedicated to developing and bringing to market fundamental technologies crucial for the global wireless communication industry. Its operations are structured into three primary segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT division specializes in creating and supplying integrated circuits and system software, leveraging 3G, 4G, 5G, and other advanced wireless technologies. These components are essential for a range of products, including those used for wireless voice and data communication, networking, application processing, multimedia, and global positioning. The QTL segment generates revenue by licensing its extensive intellectual property portfolio, which encompasses various patent rights vital for the manufacture and sale of wireless devices, particularly those adhering to standards like CDMA2000, WCDMA, LTE, and OFDMA-based 5G. Through its QSI segment, Qualcomm invests in early-stage companies across diverse sectors such as 5G, artificial intelligence, automotive, consumer electronics, enterprise solutions, cloud computing, and the Internet of Things, aiming to support the introduction of new products and services for both existing and emerging communication applications. Furthermore, the company provides development services and related products to United States government agencies and their contractors. Founded in 1985, QUALCOMM Incorporated maintains its headquarters in San Diego, California.

https://www.qualcomm.com

Key executives

NameTitlePayBorn
Cristiano Renno AmonChief Executive Officer, President & Director$5.5M1970
Heather AceExecutive VP & Chief Human Resources Officer$3.0M1970
Baaziz AchourExecutive VP & Chief Technology Officer of Qualcomm Technologies, Inc.$2.7M1962
Akash PalkhiwalaExecutive VP, CFO & COO$2.6M1976
Alexander H. RogersExecutive VP, President of Qualcomm Technology Licensing (QTL) & Global Affairs$2.3M1957
Ann N. Cathcart ChaplinExecutive VP, General Counsel & Corporate Secretary$1.9M1973
Colin RyanExecutive VP and Chief Strategy & Corporate Development Officer——
Don McGuireExecutive VP & Chief Marketing Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Cristiano R. Amon President and Chief Executive Officer2025$1.4M$24.2M$3.2M$29.7M
Akash Palkhiwala Executive Vice President, Chief Financial Officer and Chief Operating Officer2025$900,000$10.5M$1.6M$13.1M
James H. Thompson Former Chief Technology Officer2025$478,643$10.5M$0$11.1M
Alexander H. Rogers Executive Vice President and President, Qualcomm Technology Licensing and Global Affairs2025$800,010$7.4M$1.4M$9.7M
Baaziz Achour Executive Vice President, Chief Technology Officer2025$777,408$7.2M$1.4M$9.5M
Ann Chaplin Executive Vice President, General Counsel and Corporate Secretary2025$748,077$7.1M$1.1M$9.0M

Employees

35k201837k201941k202045k202151k202250k202349k202452k2025

Dividends

Ex-dateAmountPaid
2026-09-03$0.922026-09-24
2026-06-04$0.922026-06-25
2026-03-05$0.892026-03-26
2025-12-04$0.892025-12-18
2025-09-04$0.892025-09-25
2025-06-05$0.892025-06-26
2025-03-06$0.852025-03-27
2024-12-05$0.852024-12-19

Moat model

Narrow · Efficient Scale · 2026-06-28
Cost advantage59
Intangibles56
Switching costs60
Network effect45
Efficient scale100
Our component scores (0-100) and overall 62.6; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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