Qualcomm Inc Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
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 100/100, reflecting efficient cost management and pricing power. This is up from 25.9% the prior year.
Qualcomm Inc's revenue grew 13.7% year-over-year to $44.3B, a solid pace of expansion. This earns a growth score of 68/100.
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 85/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.82, Qualcomm Inc holds $2.82 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 93/100.
Qualcomm Inc converts 28.9% of revenue into free cash flow ($12.8B). This strong cash generation earns a score of 100/100.
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 100/100. This is down from 38.6% the prior year.
Qualcomm Inc scores 5.78, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($150.1B) relative to total liabilities ($28.9B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
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.
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.
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.
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).
Key Financial Metrics
Qualcomm Inc generated $44.3B in revenue in fiscal year 2025. This represents an increase of 13.7% from the prior year.
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.
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.
Qualcomm Inc reported $5.5B in net income in fiscal year 2025. This represents a decrease of 45.4% from the prior year.
Qualcomm Inc earned $5.01 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 44.1% from the prior year.
Qualcomm Inc held $5.5B in cash against $14.8B in long-term debt as of fiscal year 2025.
Qualcomm Inc paid $3.48 per share in dividends in fiscal year 2025. This represents an increase of 5.5% from the prior year.
Qualcomm Inc had 1.07B shares outstanding in fiscal year 2025. This represents a decrease of 3.6% from the prior year.
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.
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.
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.
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.
Qualcomm Inc invested $9.0B in research and development in fiscal year 2025. This represents an increase of 1.7% from the prior year.
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.
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 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.3B+18.2% | $10.4B-5.6% | $11.0B-5.9% | $11.7B+24.2% | $9.4B0.0% | $9.4B-5.5% | $9.9B+17.6% | $8.5B |
| Cost of Revenue | $5.6B+20.9% | $4.6B-6.7% | $4.9B-4.3% | $5.2B+23.6% | $4.2B+1.7% | $4.1B-4.8% | $4.3B+13.7% | $3.8B |
| Gross Profit | $6.7B+16.1% | $5.8B-4.7% | $6.0B-7.2% | $6.5B+24.7% | $5.2B-1.2% | $5.3B-6.0% | $5.6B+20.7% | $4.7B |
| R&D Expenses | $2.5B+10.2% | $2.2B+0.5% | $2.2B-0.6% | $2.2B-1.3% | $2.3B+1.0% | $2.2B+6.7% | $2.1B-5.7% | $2.2B |
| SG&A Expenses | $865.0M+12.2% | $771.0M+9.2% | $706.0M-2.4% | $723.0M+8.9% | $664.0M-6.1% | $707.0M+12.8% | $627.0M+1.5% | $618.0M |
| Operating Income | $3.4B+21.9% | $2.8B-11.5% | $3.1B-12.2% | $3.6B+60.1% | $2.2B-5.1% | $2.3B-20.1% | $2.9B+60.6% | $1.8B |
| Interest Expense | $169.0M+0.6% | $168.0M+3.1% | $163.0M0.0% | $163.0M-3.0% | $168.0M-2.3% | $172.0M-3.4% | $178.0M+3.5% | $172.0M |
| Income Tax | $543.0M+89.9% | $286.0M-2.4% | $293.0M-35.6% | $455.0M+166.1% | $171.0M-23.3% | $223.0M+47.7% | $151.0M+586.4% | $22.0M |
| Net Income | $3.0B+12.7% | $2.7B-5.2% | $2.8B-11.6% | $3.2B+49.4% | $2.1B-8.5% | $2.3B-15.9% | $2.8B+53.5% | $1.8B |
| EPS (Diluted) | $2.78+14.4% | $2.43-3.6% | $2.52-11.0% | $2.83+50.5% | $1.88-8.7% | $2.06-16.3% | $2.46+53.7% | $1.60 |
QCOM Balance Sheet
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $53.0B-3.3% | $54.9B-0.9% | $55.4B-0.4% | $55.6B+0.8% | $55.2B+3.7% | $53.2B+2.0% | $52.1B+2.1% | $51.0B |
| Current Assets | $24.6B-1.2% | $24.9B-4.5% | $26.1B+0.1% | $26.1B+3.3% | $25.2B+4.1% | $24.2B+3.4% | $23.4B+4.3% | $22.5B |
| Cash & Equivalents | $7.2B+32.3% | $5.4B-24.4% | $7.2B-17.3% | $8.7B+11.0% | $7.8B-14.9% | $9.2B+13.4% | $8.1B-3.8% | $8.4B |
| Inventory | $6.7B+5.2% | $6.3B+2.3% | $6.2B-1.7% | $6.3B-1.9% | $6.4B+5.5% | $6.1B-2.6% | $6.2B-2.7% | $6.4B |
| Accounts Receivable | $2.9B | N/A | N/A | N/A | $2.3B | N/A | N/A | $1.9B |
| Goodwill | $14.2B+24.8% | $11.4B+3.8% | $10.9B+0.4% | $10.9B+1.0% | $10.8B+0.4% | $10.8B+0.4% | $10.7B+0.8% | $10.6B |
| Total Liabilities | $30.0B+8.3% | $27.7B0.0% | $27.6B-3.7% | $28.7B-0.6% | $28.9B+0.6% | $28.7B-1.3% | $29.1B-1.3% | $29.5B |
| Current Liabilities | $9.8B+25.9% | $7.8B-18.3% | $9.5B-4.1% | $10.0B-5.2% | $10.5B+14.9% | $9.1B-0.3% | $9.2B-4.8% | $9.6B |
| Long-Term Debt | $14.8B+0.2% | $14.8B+11.5% | $13.3B+0.3% | $13.2B-0.4% | $13.3B-8.8% | $14.5B-0.2% | $14.6B+0.6% | $14.5B |
| Total Equity | $23.1B-15.2% | $27.2B-1.9% | $27.7B+3.2% | $26.9B+2.3% | $26.3B+7.4% | $24.5B+6.1% | $23.1B+6.8% | $21.6B |
| Retained Earnings | $22.5B-15.3% | $26.6B-2.9% | $27.3B+2.7% | $26.6B+3.6% | $25.7B+7.2% | $24.0B+6.2% | $22.6B+8.8% | $20.7B |
QCOM Cash Flow Statement
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.0B+72.7% | $2.9B+12.6% | $2.6B-44.3% | $4.6B+73.3% | $2.6B-25.5% | $3.6B+20.5% | $2.9B-27.9% | $4.1B |
| Capital Expenditures | $549.0M+86.7% | $294.0M+37.4% | $214.0M-22.7% | $277.0M+8.2% | $256.0M+39.1% | $184.0M-14.0% | $214.0M-27.0% | $293.0M |
| Free Cash Flow | $4.4B+71.1% | $2.6B+10.3% | $2.3B-45.7% | $4.3B+80.3% | $2.4B-29.1% | $3.4B+23.2% | $2.7B-28.0% | $3.8B |
| Investing Cash Flow | -$1.7B-205.5% | $1.6B+226.5% | -$1.3B-92.1% | -$671.0M-74.3% | -$385.0M+59.0% | -$939.0M+25.2% | -$1.3B-103.2% | -$618.0M |
| Financing Cash Flow | -$3.9B+2.2% | -$4.0B-42.8% | -$2.8B+7.5% | -$3.0B-36.8% | -$2.2B-39.2% | -$1.6B+22.6% | -$2.0B-82.7% | -$1.1B |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $2.6B-7.0% | $2.8B+63.0% | $1.7B-0.1% | $1.8B+34.3% | $1.3B+78.2% | $731.0M-6.8% | $784.0M+96.0% | $400.0M |
QCOM Financial Ratios
| Metric | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.5%-1.0pp | 55.6%+0.5pp | 55.0%-0.7pp | 55.8%+0.2pp | 55.6%-0.7pp | 56.3%-0.3pp | 56.6%+1.5pp | 55.1% |
| Operating Margin | 27.5%+0.8pp | 26.7%-1.8pp | 28.4%-2.1pp | 30.5%+6.8pp | 23.6%-1.3pp | 24.9%-4.6pp | 29.5%+7.9pp | 21.6% |
| Net Margin | 24.5%-1.2pp | 25.7%+0.1pp | 25.6%-1.6pp | 27.3%+4.6pp | 22.7%-2.1pp | 24.8%-3.1pp | 27.9%+6.5pp | 21.3% |
| Return on Equity | 13.0%+3.2pp | 9.8%-0.3pp | 10.1%-1.7pp | 11.8%+3.2pp | 8.6%-0.9pp | 9.5%-2.5pp | 12.0%+3.3pp | 8.7% |
| Return on Assets | 5.7%+0.8pp | 4.9%-0.2pp | 5.1%-0.6pp | 5.7%+1.7pp | 4.0%-0.3pp | 4.4%-0.9pp | 5.3%+1.6pp | 3.7% |
| Current Ratio | 2.51-0.7 | 3.19+0.5 | 2.73+0.1 | 2.62+0.2 | 2.40-0.2 | 2.65+0.1 | 2.56+0.2 | 2.33 |
| Debt-to-Equity | 0.64+0.1 | 0.54+0.1 | 0.48-0.0 | 0.49-0.0 | 0.51-0.1 | 0.59-0.0 | 0.63-0.0 | 0.67 |
| FCF Margin | 36.0%+11.1pp | 24.9%+3.6pp | 21.3%-15.6pp | 36.9%+8.6pp | 28.4%-7.5pp | 35.9%+8.4pp | 27.5%-0.3pp | 27.8% |
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Frequently Asked Questions
What is Qualcomm Inc's annual revenue?
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.
How fast is Qualcomm Inc's revenue growing?
Qualcomm Inc (QCOM) revenue grew by 13.7% year-over-year, from $39.0B to $44.3B in fiscal year 2025.
Is Qualcomm Inc profitable?
Yes, Qualcomm Inc (QCOM) reported a net income of $5.5B in fiscal year 2025, with a net profit margin of 12.5%.
What is Qualcomm Inc's earnings per share (EPS)?
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.
What is Qualcomm Inc's EBITDA?
Qualcomm Inc (QCOM) had EBITDA of $14.0B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Qualcomm Inc have?
As of fiscal year 2025, Qualcomm Inc (QCOM) had $5.5B in cash and equivalents against $14.8B in long-term debt.
What is Qualcomm Inc's gross margin?
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.
What is Qualcomm Inc's operating margin?
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.
What is Qualcomm Inc's net profit margin?
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.
Does Qualcomm Inc pay dividends?
Yes, Qualcomm Inc (QCOM) paid $3.48 per share in dividends during fiscal year 2025.
What is Qualcomm Inc's return on equity (ROE)?
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.
What is Qualcomm Inc's free cash flow?
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.
What is Qualcomm Inc's operating cash flow?
Qualcomm Inc (QCOM) generated $14.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Qualcomm Inc's total assets?
Qualcomm Inc (QCOM) had $50.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Qualcomm Inc's capital expenditures?
Qualcomm Inc (QCOM) invested $1.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Qualcomm Inc spend on research and development?
Qualcomm Inc (QCOM) invested $9.0B in research and development during fiscal year 2025.
Does Qualcomm Inc buy back shares?
Yes, Qualcomm Inc (QCOM) spent $8.8B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Qualcomm Inc have outstanding?
Qualcomm Inc (QCOM) had 1.07B shares outstanding as of fiscal year 2025.
What is Qualcomm Inc's current ratio?
Qualcomm Inc (QCOM) had a current ratio of 2.82 as of fiscal year 2025, which is generally considered healthy.
What is Qualcomm Inc's debt-to-equity ratio?
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.
What is Qualcomm Inc's return on assets (ROA)?
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.
What is Qualcomm Inc's Altman Z-Score?
Qualcomm Inc (QCOM) has an Altman Z-Score of 5.78, 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.
What is Qualcomm Inc's Piotroski F-Score?
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.
Are Qualcomm Inc's earnings high quality?
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.
Can Qualcomm Inc cover its interest payments?
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.
How financially healthy is Qualcomm Inc?
Qualcomm Inc (QCOM) scores 91 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.