Valuation, from the filing
| Public float | $167.90B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-03-28 |
|---|---|---|
| Float per share | $156.77 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 30.3× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 3.8× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 7.9× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-03-28, not today, and each multiple below it uses the figures for the fiscal year ending 2025-09-28 — the year that filing covered.
Valuation over time
30.3× earnings today, against a median of 16.6× across 9 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-03-28 | $167.90B | 30.3× | |
| 2024-03-22 | $190.00B | 18.7× | |
| 2023-03-24 | $138.90B | 19.2× | |
| 2022-03-27 | $177.10B | 13.7× | |
| 2021-03-26 | $149.90B | 16.6× | |
| 2020-03-27 | $74.90B | 14.4× | |
| 2019-09-29 | $69.17B | 15.8× | |
| 2017-03-26 | $83.99B | 34.4× | |
| 2016-03-27 | $74.55B | 13.1× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Radio & Tv Broadcasting & Communications Equipment filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Operating margin | 27.9% | 94th | |
| Gross margin | 55.4% | 87th | |
| Net margin | 12.5% | 76th | |
| Effective tax rate | 56.2% | 67th | |
| Revenue YoY growth | 13.7% | 58th | |
| Current ratio | 2.82x | 57th | |
| SBC / revenue | 6.3% | 47th | |
| R&D / revenue | 20.4% | 53th | |
| Long-term debt / equity | 0.70x | 50th |
QUALCOMM INC/DE (QCOM) reported revenue of $9.95B and net income of $2.00B for the fiscal year ended 2026-06-28. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from QUALCOMM INC/DE’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Radio & Tv Broadcasting & Communications Equipment.
Income
| Metric | 2026-06-28 | 2026-03-29 | 2025-12-28 | 2025-09-28 | 2025-06-29 | 2025-03-30 | 2024-12-29 | 2024-09-29 | 2024-06-23 | 2024-03-24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.95B | $10.60B | $12.25B | $11.27B | $10.36B | $10.98B | $11.67B | $10.24B | $9.39B | $9.39B |
| Cost of revenue | $4.67B | $4.90B | $5.57B | $5.03B | $4.61B | $4.94B | $5.16B | $4.47B | $4.17B | $4.11B |
| Gross profit | $5.28B | $5.70B | $6.68B | $6.24B | $5.76B | $6.04B | $6.51B | $5.78B | $5.22B | $5.28B |
| Operating income | $1.63B | $2.31B | $3.37B | $2.92B | $2.76B | $3.12B | $3.56B | $2.58B | $2.22B | $2.34B |
| Net income | $2.00B | $7.37B | $3.00B | -$3.12B | $2.67B | $2.81B | $3.18B | $2.92B | $2.13B | $2.33B |
| Research & development | $2.61B | $2.46B | $2.45B | $2.37B | $2.23B | $2.22B | $2.23B | $2.30B | $2.26B | $2.24B |
| Weighted-average diluted shares | shares 1.07B | shares 1.07B | shares 1.08B | Unavailable | shares 1.10B | shares 1.12B | shares 1.12B | Unavailable | shares 1.13B | shares 1.13B |
| Pretax income | $2.46B | $2.23B | $3.55B | $2.97B | $2.95B | $3.10B | $3.64B | $2.60B | $2.28B | $2.50B |
| Income tax expense | $460.00M | -$5.14B | $543.00M | $6.09B | $286.00M | $293.00M | $455.00M | -$319.00M | $171.00M | $223.00M |
| Diluted EPS | $1.87 | $6.88 | $2.78 | Unavailable | $2.43 | $2.52 | $2.83 | Unavailable | $1.88 | $2.06 |
| Selling, general & administrative | $976.00M | $898.00M | $865.00M | $910.00M | $771.00M | $706.00M | $723.00M | $761.00M | $664.00M | $707.00M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2026-06-28 | 2026-03-29 | 2025-12-28 | 2025-09-28 | 2025-06-29 | 2025-03-30 | 2024-12-29 | 2024-09-29 | 2024-06-23 | 2024-03-24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $4.53B | $5.44B | $7.20B | $5.52B | $5.45B | $7.20B | $8.71B | $7.85B | $7.77B | $9.22B |
| Total assets | $57.37B | $57.14B | $53.03B | $50.14B | $54.86B | $55.37B | $55.58B | $55.15B | $52.74B | $53.17B |
| Current assets | $23.00B | $23.11B | $24.61B | $25.75B | $24.91B | $26.08B | $26.06B | $25.23B | $23.33B | $24.23B |
| Total liabilities | $29.71B | $29.86B | $29.96B | $28.94B | $27.65B | $27.64B | $28.70B | $28.88B | $28.07B | $28.70B |
| Current liabilities | $11.41B | $9.77B | $9.82B | $9.14B | $7.80B | $9.54B | $9.95B | $10.50B | $9.75B | $9.14B |
| Total equity incl. NCI | $27.66B | $27.28B | $23.07B | $21.21B | $27.21B | $27.73B | $26.88B | $26.27B | $24.67B | $24.47B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $8.38B | $7.37B | $6.66B | $6.53B | $6.34B | $6.20B | $6.30B | $6.42B | $6.02B | $6.09B |
| Accounts receivable | Unavailable | Unavailable | Unavailable | $2.86B | Unavailable | Unavailable | Unavailable | $2.35B | Unavailable | Unavailable |
| Goodwill | $14.27B | $14.25B | $14.18B | $11.36B | $11.37B | $10.95B | $10.91B | $10.80B | $10.77B | $10.76B |
| Long-term debt | $12.78B | $14.77B | $14.82B | $14.81B | $14.79B | $13.26B | $13.21B | $13.27B | $13.19B | $14.54B |
| Accounts payable | $2.90B | $2.97B | $2.71B | $2.79B | $2.34B | $2.48B | $2.58B | $2.58B | $2.59B | $2.31B |
Cash flow
| Metric | 2026-06-28 | 2026-03-29 | 2025-12-28 | 2025-09-28 | 2025-06-29 | 2025-03-30 | 2024-12-29 | 2024-09-29 | 2024-06-23 | 2024-03-24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $991.00M | $2.45B | $4.96B | $4.00B | $2.88B | $2.55B | $4.59B | $2.65B | $3.05B | $3.55B |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | $574.00M | -$501.00M | -$1.72B | -$471.00M | $1.63B | -$1.29B | -$671.00M | -$385.00M | -$1.04B | -$939.00M |
| Financing cash flow | -$2.47B | -$3.69B | -$3.88B | -$3.44B | -$3.97B | -$2.78B | -$3.01B | -$2.20B | -$3.45B | -$1.58B |
| Net change in cash | -$902.00M | -$1.77B | -$638.00M | $72.00M | $568.00M | -$1.51B | $864.00M | $79.00M | -$1.45B | $1.02B |
| Stock-based compensation | $830.00M | $861.00M | $888.00M | $663.00M | $659.00M | $702.00M | $759.00M | $697.00M | $644.00M | $705.00M |
| Common dividends paid | $973.00M | $946.00M | $949.00M | $957.00M | $968.00M | $938.00M | $942.00M | $948.00M | $949.00M | $895.00M |
| Common share repurchases | $1.36B | $2.79B | $2.65B | $2.44B | $2.85B | $1.75B | $1.75B | $1.30B | $1.30B | $731.00M |
| Depreciation & amortization | $396.00M | $413.00M | $393.00M | $371.00M | $398.00M | $397.00M | $436.00M | $439.00M | $419.00M | $411.00M |
Derived
| Metric | 2026-06-28 | 2026-03-29 | 2025-12-28 | 2025-09-28 | 2025-06-29 | 2025-03-30 | 2024-12-29 | 2024-09-29 | 2024-06-23 | 2024-03-24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | 53.1% | 53.8% | 54.6% | 55.3% | 55.6% | 55.0% | 55.8% | 56.4% | 55.6% | 56.3% |
| Operating margin | 16.3% | 21.8% | 27.5% | 25.9% | 26.6% | 28.4% | 30.5% | 25.2% | 23.6% | 24.9% |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 8.3% | 8.1% | 7.2% | 5.9% | 6.4% | 6.4% | 6.5% | 6.8% | 6.9% | 7.5% |
| Current ratio | 2.02x | 2.37x | 2.51x | 2.82x | 3.19x | 2.73x | 2.62x | 2.40x | 2.39x | 2.65x |
| Revenue YoY growth | -4.0% | -3.5% | 5.0% | 10.0% | 10.3% | 16.9% | 17.5% | 18.7% | 11.1% | 1.2% |
| Net margin | 20.1% | 69.5% | 24.5% | -27.7% | 25.7% | 25.6% | 27.3% | 28.5% | 22.7% | 24.8% |
| R&D / revenue | 26.2% | 23.2% | 20.0% | 21.0% | 21.5% | 20.2% | 19.1% | 22.5% | 24.0% | 23.8% |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 0.46x | Unavailable | Unavailable | 0.70x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 18.7% | -230.2% | 15.3% | 204.9% | 9.7% | 9.4% | 12.5% | -12.3% | 7.5% | 8.9% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open QCOM in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.