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Qualcomm Inc Financials

QCOM
Source SEC Filings (10-K/10-Q) Updated Dec 28, 2025 Currency USD FYE September

This page shows Qualcomm Inc (QCOM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 75 / 100
Financial Profile 75/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
84

Qualcomm Inc has an operating margin of 27.9%, meaning the company retains $28 of operating profit per $100 of revenue. This strong profitability earns a score of 84/100, reflecting efficient cost management and pricing power. This is up from 25.9% the prior year.

Growth
56

Qualcomm Inc's revenue grew 13.7% year-over-year to $44.3B, a solid pace of expansion. This earns a growth score of 56/100.

Leverage
88

Qualcomm Inc carries a low D/E ratio of 0.70, meaning only $0.70 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
54

Qualcomm Inc's current ratio of 2.82 indicates adequate short-term liquidity, earning a score of 54/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
97

Qualcomm Inc converts 28.9% of revenue into free cash flow ($12.8B). This strong cash generation earns a score of 97/100.

Returns
69

Qualcomm Inc earns a strong 26.1% return on equity (ROE), meaning it generates $26 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 69/100. This is down from 38.6% the prior year.

Altman Z-Score Safe
5.49

Qualcomm Inc scores 5.49, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($135.8B) relative to total liabilities ($28.9B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
6/9

Qualcomm Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
2.53x

For every $1 of reported earnings, Qualcomm Inc generates $2.53 in operating cash flow ($14.0B OCF vs $5.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
18.6x

Qualcomm Inc earns $18.6 in operating income for every $1 of interest expense ($12.4B vs $664.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$44.3B
YoY+13.7%
5Y CAGR+13.5%
10Y CAGR+5.8%

Qualcomm Inc generated $44.3B in revenue in fiscal year 2025. This represents an increase of 13.7% from the prior year.

EBITDA
$14.0B
YoY+18.5%
5Y CAGR+12.8%
10Y CAGR+7.2%

Qualcomm Inc's EBITDA was $14.0B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 18.5% from the prior year.

Net Income
$5.5B
YoY-45.4%
5Y CAGR+1.3%
10Y CAGR+0.5%

Qualcomm Inc reported $5.5B in net income in fiscal year 2025. This represents a decrease of 45.4% from the prior year.

EPS (Diluted)
$5.01
YoY-44.1%
5Y CAGR+2.1%
10Y CAGR+4.5%

Qualcomm Inc earned $5.01 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 44.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$12.8B
YoY+14.9%
5Y CAGR+23.8%
10Y CAGR+11.0%

Qualcomm Inc generated $12.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 14.9% from the prior year.

Cash & Debt
$5.5B
YoY-29.7%
5Y CAGR-3.8%
10Y CAGR-3.1%

Qualcomm Inc held $5.5B in cash against $14.8B in long-term debt as of fiscal year 2025.

Dividends Per Share
$3.48
YoY+5.5%
5Y CAGR+6.5%
10Y CAGR+6.8%

Qualcomm Inc paid $3.48 per share in dividends in fiscal year 2025. This represents an increase of 5.5% from the prior year.

Shares Outstanding
1.07B
YoY-3.6%
5Y CAGR-1.1%
10Y CAGR-3.3%

Qualcomm Inc had 1.07B shares outstanding in fiscal year 2025. This represents a decrease of 3.6% from the prior year.

Margins & Returns

Gross Margin
55.4%
YoY-0.8pp
5Y CAGR-5.2pp
10Y CAGR-3.5pp

Qualcomm Inc's gross margin was 55.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.8 percentage points from the prior year.

Operating Margin
27.9%
YoY+2.1pp
5Y CAGR+1.3pp
10Y CAGR+5.1pp

Qualcomm Inc's operating margin was 27.9% in fiscal year 2025, reflecting core business profitability. This is up 2.1 percentage points from the prior year.

Net Margin
12.5%
YoY-13.5pp
5Y CAGR-9.6pp
10Y CAGR-8.3pp

Qualcomm Inc's net profit margin was 12.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 13.5 percentage points from the prior year.

Return on Equity
26.1%
YoY-12.5pp
5Y CAGR-59.4pp
10Y CAGR+9.3pp

Qualcomm Inc's ROE was 26.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 12.5 percentage points from the prior year.

Capital Allocation

R&D Spending
$9.0B
YoY+1.7%
5Y CAGR+8.6%
10Y CAGR+5.1%

Qualcomm Inc invested $9.0B in research and development in fiscal year 2025. This represents an increase of 1.7% from the prior year.

Share Buybacks
$8.8B
YoY+113.3%
5Y CAGR+29.1%
10Y CAGR-2.4%

Qualcomm Inc spent $8.8B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 113.3% from the prior year.

Capital Expenditures
$1.2B
YoY+14.5%
5Y CAGR-3.3%
10Y CAGR+1.8%

Qualcomm Inc invested $1.2B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 14.5% from the prior year.

QCOM Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $12.3B+8.7% $11.3B+8.7% $10.4B-5.6% $11.0B-5.9% $11.7B+13.9% $10.2B+9.1% $9.4B0.0% $9.4B
Cost of Revenue $5.6B+10.6% $5.0B+9.3% $4.6B-6.7% $4.9B-4.3% $5.2B+15.5% $4.5B+7.0% $4.2B+1.7% $4.1B
Gross Profit $6.7B+7.2% $6.2B+8.3% $5.8B-4.7% $6.0B-7.2% $6.5B+12.7% $5.8B+10.7% $5.2B-1.2% $5.3B
R&D Expenses $2.5B+3.5% $2.4B+6.5% $2.2B+0.5% $2.2B-0.6% $2.2B-3.1% $2.3B+1.9% $2.3B+1.0% $2.2B
SG&A Expenses $865.0M-4.9% $910.0M+18.0% $771.0M+9.2% $706.0M-2.4% $723.0M-5.0% $761.0M+14.6% $664.0M-6.1% $707.0M
Operating Income $3.4B+15.4% $2.9B+5.6% $2.8B-11.5% $3.1B-12.2% $3.6B+37.7% $2.6B+16.3% $2.2B-5.1% $2.3B
Interest Expense $169.0M-0.6% $170.0M+1.2% $168.0M+3.1% $163.0M0.0% $163.0M-8.9% $179.0M+6.5% $168.0M-2.3% $172.0M
Income Tax $543.0M-91.1% $6.1B+2028.7% $286.0M-2.4% $293.0M-35.6% $455.0M+242.6% -$319.0M-286.5% $171.0M-23.3% $223.0M
Net Income $3.0B+196.4% -$3.1B-216.9% $2.7B-5.2% $2.8B-11.6% $3.2B+8.9% $2.9B+37.2% $2.1B-8.5% $2.3B
EPS (Diluted) $2.78 N/A $2.43-3.6% $2.52-11.0% $2.83 N/A $1.88-8.7% $2.06

QCOM Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $53.0B+5.8% $50.1B-8.6% $54.9B-0.9% $55.4B-0.4% $55.6B+0.8% $55.2B+4.6% $52.7B-0.8% $53.2B
Current Assets $24.6B-4.4% $25.8B+3.4% $24.9B-4.5% $26.1B+0.1% $26.1B+3.3% $25.2B+8.1% $23.3B-3.7% $24.2B
Cash & Equivalents $7.2B+30.5% $5.5B+1.3% $5.4B-24.4% $7.2B-17.3% $8.7B+11.0% $7.8B+1.0% $7.8B-15.7% $9.2B
Inventory $6.7B+2.1% $6.5B+3.0% $6.3B+2.3% $6.2B-1.7% $6.3B-1.9% $6.4B+6.7% $6.0B-1.1% $6.1B
Accounts Receivable N/A $2.9B N/A N/A N/A $2.3B N/A N/A
Goodwill $14.2B+24.9% $11.4B-0.1% $11.4B+3.8% $10.9B+0.4% $10.9B+1.0% $10.8B+0.3% $10.8B+0.1% $10.8B
Total Liabilities $30.0B+3.5% $28.9B+4.6% $27.7B0.0% $27.6B-3.7% $28.7B-0.6% $28.9B+2.9% $28.1B-2.2% $28.7B
Current Liabilities $9.8B+7.4% $9.1B+17.2% $7.8B-18.3% $9.5B-4.1% $10.0B-5.2% $10.5B+7.8% $9.7B+6.6% $9.1B
Long-Term Debt $14.8B0.0% $14.8B+0.2% $14.8B+11.5% $13.3B+0.3% $13.2B-0.4% $13.3B+0.6% $13.2B-9.3% $14.5B
Total Equity $23.1B+8.8% $21.2B-22.1% $27.2B-1.9% $27.7B+3.2% $26.9B+2.3% $26.3B+6.5% $24.7B+0.8% $24.5B
Retained Earnings $22.5B+9.0% $20.6B-22.2% $26.6B-2.9% $27.3B+2.7% $26.6B+3.6% $25.7B+5.8% $24.3B+1.3% $24.0B

QCOM Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $5.0B+24.2% $4.0B+39.0% $2.9B+12.6% $2.6B-44.3% $4.6B+73.3% $2.6B-13.3% $3.1B-14.1% $3.6B
Capital Expenditures $549.0M+34.9% $407.0M+38.4% $294.0M+37.4% $214.0M-22.7% $277.0M+8.2% $256.0M-33.9% $387.0M+110.3% $184.0M
Free Cash Flow $4.4B+23.0% $3.6B+39.1% $2.6B+10.3% $2.3B-45.7% $4.3B+80.3% $2.4B-10.3% $2.7B-20.9% $3.4B
Investing Cash Flow -$1.7B-265.4% -$471.0M-128.9% $1.6B+226.5% -$1.3B-92.1% -$671.0M-74.3% -$385.0M+63.1% -$1.0B-11.1% -$939.0M
Financing Cash Flow -$3.9B-13.0% -$3.4B+13.5% -$4.0B-42.8% -$2.8B+7.5% -$3.0B-36.8% -$2.2B+36.2% -$3.4B-118.3% -$1.6B
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $2.6B+8.4% $2.4B-14.2% $2.8B+63.0% $1.7B-0.1% $1.8B+34.3% $1.3B0.0% $1.3B+78.2% $731.0M

QCOM Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 54.5%-0.8pp 55.3%-0.2pp 55.6%+0.5pp 55.0%-0.7pp 55.8%-0.6pp 56.4%+0.8pp 55.6%-0.7pp 56.3%
Operating Margin 27.5%+1.6pp 25.9%-0.8pp 26.7%-1.8pp 28.4%-2.1pp 30.5%+5.3pp 25.2%+1.6pp 23.6%-1.3pp 24.9%
Net Margin 24.5%+52.2pp -27.7%-53.4pp 25.7%+0.1pp 25.6%-1.6pp 27.3%-1.2pp 28.5%+5.8pp 22.7%-2.1pp 24.8%
Return on Equity 13.0%+27.7pp -14.7%-24.5pp 9.8%-0.3pp 10.1%-1.7pp 11.8%+0.7pp 11.1%+2.5pp 8.6%-0.9pp 9.5%
Return on Assets 5.7%+11.9pp -6.2%-11.1pp 4.9%-0.2pp 5.1%-0.6pp 5.7%+0.4pp 5.3%+1.3pp 4.0%-0.3pp 4.4%
Current Ratio 2.51-0.3 2.82-0.4 3.19+0.5 2.73+0.1 2.62+0.2 2.400.0 2.39-0.3 2.65
Debt-to-Equity 0.64-0.1 0.70+0.2 0.54+0.1 0.48-0.0 0.49-0.0 0.51-0.0 0.53-0.1 0.59
FCF Margin 36.0%+4.2pp 31.8%+6.9pp 24.9%+3.6pp 21.3%-15.6pp 36.9%+13.6pp 23.3%-5.0pp 28.4%-7.5pp 35.9%

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Frequently Asked Questions

Qualcomm Inc (QCOM) reported $44.3B in total revenue for fiscal year 2025. This represents a 13.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Qualcomm Inc (QCOM) revenue grew by 13.7% year-over-year, from $39.0B to $44.3B in fiscal year 2025.

Yes, Qualcomm Inc (QCOM) reported a net income of $5.5B in fiscal year 2025, with a net profit margin of 12.5%.

Qualcomm Inc (QCOM) reported diluted earnings per share of $5.01 for fiscal year 2025. This represents a -44.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Qualcomm Inc (QCOM) had EBITDA of $14.0B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Qualcomm Inc (QCOM) had $5.5B in cash and equivalents against $14.8B in long-term debt.

Qualcomm Inc (QCOM) had a gross margin of 55.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Qualcomm Inc (QCOM) had an operating margin of 27.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Qualcomm Inc (QCOM) had a net profit margin of 12.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Qualcomm Inc (QCOM) paid $3.48 per share in dividends during fiscal year 2025.

Qualcomm Inc (QCOM) has a return on equity of 26.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Qualcomm Inc (QCOM) generated $12.8B in free cash flow during fiscal year 2025. This represents a 14.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Qualcomm Inc (QCOM) generated $14.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Qualcomm Inc (QCOM) had $50.1B in total assets as of fiscal year 2025, including both current and long-term assets.

Qualcomm Inc (QCOM) invested $1.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Qualcomm Inc (QCOM) invested $9.0B in research and development during fiscal year 2025.

Yes, Qualcomm Inc (QCOM) spent $8.8B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Qualcomm Inc (QCOM) had 1.07B shares outstanding as of fiscal year 2025.

Qualcomm Inc (QCOM) had a current ratio of 2.82 as of fiscal year 2025, which is generally considered healthy.

Qualcomm Inc (QCOM) had a debt-to-equity ratio of 0.70 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Qualcomm Inc (QCOM) had a return on assets of 11.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Qualcomm Inc (QCOM) has an Altman Z-Score of 5.49, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Qualcomm Inc (QCOM) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Qualcomm Inc (QCOM) has an earnings quality ratio of 2.53x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Qualcomm Inc (QCOM) has an interest coverage ratio of 18.6x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Qualcomm Inc (QCOM) scores 75 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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