Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Qualcomm

QCOM stock analysis · Information Technology · Semiconductors

FY 2025-09-28ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$184.79HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$195.3B

Price × SEC outstanding shares. Shares measured 2026-06-28. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$184.22

Equity cash-flow scenario · SEC outstanding shares at 2026-06-28 · -0.3% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

5.1%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

159.5%

12 industry peers · median 91.5×

How this is calculated ↗
Valuation

Historical multiples

22.8×

7 annual observations · snapshot P/E 35.3× · 54.9% versus history

How this is calculated ↗
Valuation

Free cash flow yield

6.6%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

31.4%

Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

-9.1%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-16.1%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

5.3%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 14B2020-09-27: cfo $5,814,000,000.002020-09-27: capex $1,407,000,000.0020202021-09-26: cfo $10,536,000,000.002021-09-26: capex $1,888,000,000.0020212022-09-25: cfo $9,096,000,000.002022-09-25: capex $2,262,000,000.0020222023-09-24: cfo $11,299,000,000.002023-09-24: capex $1,450,000,000.0020232024-09-29: cfo $12,202,000,000.002024-09-29: capex $1,041,000,000.0020242025-09-28: cfo $14,012,000,000.002025-09-28: capex $1,192,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$231.06$252.11$274.74
10.0%$169.32$184.22$200.21
12.0%$133.58$144.95$157.13

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-09-2844.3B5.5B14B1.2B50.1B
2024-09-2939B10.1B12.2B1B55.2B
2023-09-2435.8B7.2B11.3B1.5B51B
2022-09-2544.2B12.9B9.1B2.3B49B
2021-09-2633.6B9B10.5B1.9B41.2B
2020-09-2723.5B5.2B5.8B1.4B35.6B
2019-09-2924.3B4.4B7.3B887M33B
2018-09-3022.6B-5B3.9B784M32.7B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue44.3BRevenues2025-11-05
netIncome5.5BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2025-11-05
Parent/common earnings proxy5.5BNetIncomeLoss2025-11-05
cfo14BNetCashProvidedByUsedInOperatingActivities2025-11-05
capex1.2BPaymentsToAcquireProductiveAssets2025-11-05
operatingIncome12.4BOperatingIncomeLoss2025-11-05
assets50.1BAssets2025-11-05
equity21.2BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2025-11-05
Parent book equity proxyNot reported under a supported tag
debt14.8BLongTermDebt2025-11-05
shortDebtNot reported under a supported tag
cash5.5BCashAndCashEquivalentsAtCarryingValue2025-11-05
shares1.1BWeightedAverageNumberOfDilutedSharesOutstanding2025-11-05
dividendsNot reported under a supported tag
buybacks8.8BPaymentsForRepurchaseOfCommonStock2025-11-05
issuance404MProceedsFromIssuanceOfCommonStock2025-11-05