QUALCOMM INC/DE financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data QUALCOMM INC/DE files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	22,258	22,611	24,273	23,531	33,566	44,200	35,820	38,962	44,284	43,120
Cost of revenue	9,792	10,244	8,599	9,255	14,262	18,635	15,869	17,060	19,738	20,222
Gross profit	12,466	12,367	15,674	14,276	19,304	25,565	19,951	21,902	24,546	22,898
Research and development	5,485	5,625	5,398	5,975	7,176	8,194	8,818	8,893	9,042	10,207
Selling, general and administrative	2,658	2,986	2,195	2,074	2,339	2,570	2,483	2,759	3,110	3,701
Operating income	2,581	621	7,667	6,255	9,789	15,860	7,788	10,071	12,355	8,658
Interest expense	494	768	627	602	559	490	694	697	664	689
Interest income	619	611	300	156	83	91	313	675	639	424
Other non-operating income					1,044	-372	349	962	972	1,445
Pre-tax income	2,987	392	7,481	5,719	10,274	14,998	7,443	10,336	12,663	9,414
Income tax	543	5,356	3,095	521	1,231	2,012	104	226	7,122	-4,214
Income from continuing operations				5,198	9,043	12,986	7,339	10,110	5,541	13,628
Net income to minority interests	-1	0	0
Net income	2,445	-4,964	4,386	5,198	9,043	12,936	7,232	10,142	5,541	13,628
EBITDA	4,042	2,182	9,068	7,648	11,371	17,622	9,597	11,777	13,957	10,288
EPS, basic	1.66	-3.39	3.63	4.58	7.99	11.52	6.47	9.09	5.05	12.81
EPS, diluted	1.64	-3.39	3.59	4.52	7.87	11.37	6.42	8.97	5.01	12.70
Shares, basic (weighted)	1,477	1,463	1,210	1,135	1,131	1,123	1,117	1,116	1,096	1,064
Shares, diluted (weighted)	1,490	1,463	1,220	1,149	1,149	1,137	1,126	1,130	1,105	1,073
Dividend per share	2.20	2.38	2.48	2.54	2.66	2.86	3.10	3.30	3.48	3.62

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	35,029	11,777	11,839	6,707	7,116	2,773	8,450	7,849	5,520	4,636
Short-term investments	2,279	311	421	4,507	5,298	3,609	2,874	5,451	4,635	3,045
Receivables	3,576	2,667	1,046	2,687	2,214	4,175	1,923	2,347	2,855	2,671
Inventory	2,035	1,693	1,400	2,598	3,228	6,341	6,422	6,423	6,526	8,640
Other current assets	618	699	634	704	854	1,625	1,194	1,579	2,435	1,752
Total current assets	43,593	17,384	16,765	18,519	20,075	20,724	22,464	25,231	25,754	22,272
Property, plant and equipment	3,216	2,975	3,081	3,711	4,559	5,168	5,042	4,665	4,690	6,104
Lease right-of-use assets				460	513	631	612	719	735	776
Goodwill	6,623	6,498	6,282	6,323	7,246	10,508	10,642	10,799	11,358	16,374
Intangible assets	3,737	2,955	2,172	1,653	1,458	1,882	1,408	1,244	1,148	1,925
Long-term investments	1,270	35	36	35	0
Other non-current assets	4,147	1,970	3,461	4,037	6,311	7,729	8,086	8,053	6,450	8,371
Total assets	65,498	32,718	32,957	35,594	41,240	49,014	51,040	55,154	50,143	60,829
Accounts payable	1,971	1,825	1,368	2,248	2,750	3,796	1,912	2,584	2,791	3,056
Accrued liabilities	1,183	1,081	1,048	1,053	1,531	1,486	1,685	1,834	1,839	1,875
Deferred revenue	502	500	565	568	612	369	293	297	358	200
Short-term debt	2,495	1,005	2,496	500	2,044	1,945	914	1,364	0	2,492
Total current liabilities	10,940	11,389	8,935	8,672	11,951	11,866	9,628	10,504	9,144	11,978
Long-term debt		15,365	13,437	15,226	13,701	13,537	14,484	13,270	14,811	12,620
Lease liabilities				371	428	573	571	708	730	759
Other non-current liabilities	2,432	1,225
Total liabilities	34,773	31,911	28,048	29,517	31,290	31,001	29,459	28,880	28,937	30,428
Total debt	19,398	15,365	13,437	15,226	13,701	13,537	14,484	13,270	14,811	12,620
Paid-in capital	274	0	343	586	0	195	490	0	0	2,518
Retained earnings	30,067	542	4,466	5,284	9,822	17,840	20,733	25,687	20,646	27,503
Other comprehensive income	384	265	100	207	128	-22	358	587	560	380
Shareholders' equity	30,725	807	4,909
Minority interests	0
Total equity	30,725	807	4,909	6,077	9,950	18,013	21,581	26,274	21,206	30,401
Total liabilities and equity	65,498	32,718	32,957	35,594	41,240	49,014	51,040	55,154	50,143	60,829
Shares outstanding	1,474	1,219	1,145	1,131	1,125	1,121	1,114	1,113	1,074	1,072

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	2,444	-4,964	4,386	5,198	9,043	12,936	7,232	10,142	5,541	13,628
Depreciation and amortization	1,461	1,561	1,401	1,393	1,582	1,762	1,809	1,706	1,602	1,630
Stock-based compensation	914	883	1,037	1,212	1,663	2,031	2,484	2,648	2,783	3,452
Deferred income tax	-788	2,021	1,937	-216	-237	-9	-1,626	-1,888	4,452	-5,064
Change in receivables	1,104	734	1,373	-1,529	426	-2,066	2,472	-768	-365	215
Change in inventory	200	337	273	-1,157	-622	-3,137	8	13	-138	-2,049
Cash from operations	5,001	3,908	7,286	5,814	10,536	9,096	11,299	12,202	14,012	11,145
Capital expenditures	-690	-784	-887	-1,407	-1,888	-2,262	-1,450	-1,041	-1,192	-2,494
Purchases of investments	-19,062	-5,936	0	-6,213	-5,907	-1,414	-668	-5,069	-4,694	-2,948
Sales and maturities of investments	41,715	9,188	198	2,399	5,555	2,622	1,566	2,677	5,755	4,906
Cash from investing	20,463	2,381	-806	-5,263	-3,356	-5,804	762	-3,623	-800	-2,039
Debt issued	10,953	0	0	1,988	0	1,477	1,880	0	1,487	0
Debt repaid	0	-5,513	0	-2,219	0	-1,540
Stock issued	497	603	414	329	347	356	434	383	404	224
Share buybacks	-1,342	-22,580	-1,793	-2,450	-3,366	-3,129	-2,973	-4,121	-8,791	-7,817
Dividends paid	-3,252	-3,466	-2,968	-2,882	-3,008	-3,212	-3,462	-3,687	-3,805	-3,854
Cash from financing	5,571	-31,500	-6,386	-5,707	-6,798	-7,196	-6,663	-9,269	-13,196	-12,295
Exchange rate effect	48	-41	-32	24	27
Net change in cash	31,083	-25,252	62	-5,132	409	-4,017	5,428	-678	-6	-3,207
Free cash flow	4,311	3,124	6,399	4,407	8,648	6,834	9,849	11,161	12,820	8,651
Income taxes paid	1,000	877	1,100	800	1,500	2,100	1,400	3,300	3,100	1,644

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $173.53 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	53.1%	Gross profit / revenue.
Operating margin	20.1%	Operating income / revenue.
EBITDA margin	23.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	21.8%	Pre-tax income / revenue.
Net margin	31.6%	Net income / revenue.
FCF margin	20.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	25.8%	Cash from operations / revenue.
Effective tax rate	-44.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	24.6%	Net income / average total assets.
R&D / revenue	23.7%	Research and development expense / revenue.
SG&A / revenue	8.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	8.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	5.8%	Capital expenditures / revenue.
D&A / revenue	3.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-2.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	6.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-6.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	3.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-29.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	3.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-2.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-26.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	2.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-2.0%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	145.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	23.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	8.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	153.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	25.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	10.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-20.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-0.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	1.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-32.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-4.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	0.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	4.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	5.3%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	6.4%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	21.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	8.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.86x	Current assets / current liabilities.
Quick ratio	0.86x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.64x	(Cash + short-term investments) / current liabilities.
Debt / assets	20.7%	Total debt / total assets.
Liabilities / assets	50.0%	Total liabilities / total assets.
Net debt	$4.94B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.48x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	12.6x	Operating income / interest expense.
Working capital	$10.29B	Current assets - current liabilities.
Goodwill and intangibles / assets	30.1%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.78x	Revenue / average total assets.
Fixed asset turnover	7.99x	Revenue / average property, plant and equipment.
Inventory turnover	2.67x	Cost of revenue / average inventory.
Days inventory	137 days	365 x average inventory / cost of revenue.
Receivables turnover	15.6x	Revenue / average receivables.
Days sales outstanding	23 days	365 x average receivables / revenue.
Days payables	53 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	107 days	Days inventory + days sales outstanding - days payables.
FCF conversion	63.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	22.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$12.70	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$12.81	Net income per basic share, as reported (split-adjusted).
Revenue per share	$40.19	Revenue / diluted weighted shares.
FCF per share	$8.06	Free cash flow / diluted weighted shares.
Operating cash flow per share	$10.39	Cash from operations / diluted weighted shares.
Cash per share	$7.17	(Cash + short-term investments) / shares outstanding.
Dividend per share	$3.62	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	28.3%	Dividends paid / net income, when net income is positive.
Dividends / FCF	44.5%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	90.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$182.25B	Share price x shares outstanding.
Enterprise value	$187.19B	Market cap + total debt - cash - short-term investments.
P/E	13.4x	Market cap / net income. Only when net income is positive.
P/S	4.23x	Market cap / revenue.
P/FCF	21.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	16.4x	Market cap / cash from operations, when positive.
EV/Sales	4.34x	Enterprise value / revenue.
EV/EBIT	21.6x	Enterprise value / operating income, when both are positive.
EV/EBITDA	18.2x	Enterprise value / EBITDA, when both are positive.
EV/FCF	21.6x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.7%	Free cash flow / market cap.
Earnings yield	7.5%	Net income / market cap (the inverse of P/E).
Dividend yield	2.1%	Dividends paid over the period / market cap.
Shareholder yield	6.4%	(Dividends paid + share buybacks) / market cap.
PEG	0.52x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was QUALCOMM INC/DE's revenue in fiscal 2026?

QUALCOMM INC/DE reported revenue of $43.12B for fiscal 2026, 2.6% lower than the year before.

Was QUALCOMM INC/DE profitable in fiscal 2026?

Yes. Net income was $13.63B, a net margin of 31.6%.

How much free cash flow did QUALCOMM INC/DE generate in fiscal 2026?

Cash from operations of $11.15B minus capital expenditures of $2.49B left free cash flow of $8.65B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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