QualcommQCOM

QualcommQCOM

Revenue: is the business selling more than it used to?

$44.3B+14% YoYFY 2025

→Revenue reached $44.3B in 2025, compounding +0% a year since 2022 though the pace has cooled.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

Net income: how much of that revenue becomes profit?

$5.5B−45% YoYFY 2025

→Net income was $5.5B in 2025, compounding -25% a year over three years. Trailing twelve-month profit stands at $9.3B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

How fast is it growing, year by year?

+13.7%revenue growth, FY 2025

→Revenue grew +14% in 2025 against a five-year average of +16%. Earnings went the other way (-45%) even as sales grew, so margins compressed: costs rose faster than revenue. 2018's swing into loss (-303%) sits off the axis.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

Revenue per share: is your slice growing as fast as the company?

$40.08revenue per share, FY 2025

→Revenue per share reached $40.08 in 2025, compounding +1% a year - in line with QCOM's own +0%, so the share count is not distorting your slice. Free cash flow per share stands at $11.60.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

Free cash flow: what is left in real cash after everything?

$12.8B+15% YoYFY 2025

→Free cash flow was $12.8B in 2025, compounding +23% a year since 2022. That is the most cash the business has ever thrown off in a year. The trailing twelve months stand at $10.4B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

How much of every sales dollar ends up as free cash?

→29 cents of every sales dollar became free cash in 2025, up 13 points since 2022.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is research and development, at 20% of revenue (stock compensation 6%, capital spending 3%).

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

When sales grow, do profits grow faster?

→Operating profit outgrew revenue in 4 of the last 5 years, most recently +23% against +14%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin compressed 8 points to 28% since 2022. After everything, 13 cents of each sales dollar reaches net profit. QCOM doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

What does it earn on the money it uses?

→ROE of 33% and ROCE of 29% sit close together, so the returns come from the business itself rather than from borrowing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

What has the market paid for QCOM over time?

20.1xP/E today

→At 20.1x earnings, the market is paying +20% more than QCOM's own 9-year median of 16.9x. Expectations are elevated, so more has to go right to justify the price.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

What cash return does the business throw off per dollar of market value?

5.9%FCF yield today

→Every dollar of market value currently buys 5.9% of annual free cash flow, right at QCOM's 10-year median of 6.5%.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

Could it handle its debt if things went wrong?

→Debt of $15.3B sits against $4.5B of cash, or 0.6x shareholders' equity. Earnings cover the interest bill 15 times over, so the debt is comfortably serviced.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

Is the company's own capital growing?

→The company's own capital grew from $23.1B in 2023 to $27.7B (+20%). The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

How much goes back, and how much leaks out as stock comp?

→Shareholders received $8.8B in buybacks and $2.1B in dividends in 2025. Stock compensation issued $2.8B of new shares in the same year, offsetting 26% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

How fast is your ownership being diluted - or concentrated?

→The share count shrank 2.2% in 2025, averaging 0.9% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

Is the dividend cheque growing?

→The dividend per share reached $1.17 in 2013, compounding +21% a year since 2011.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

Can it afford the dividend?

→The dividend consumed 30% of profit and 27% of free cash flow in 2013. That leaves room to keep paying through a weak year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

Does QCOM earn more on its capital than that capital costs?

→QCOM earns 28.6% on the capital it employs, well above the 10% most investors treat as the cost of capital. It was 39.7% in 2022, so the trend is down, though the pace has cooled.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

QCOM has issued or retired shares - did shareholders end up better off?

→QCOM has shrunk its share count -35% from 2011 to 2025, so each remaining share owns more of the business. Revenue per share is +353% over the same years.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28

QualcommQCOM

Are the people running it buying or selling?

→Insiders sold $9M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 14 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-28