# Qualcomm Inc (QCOM) — Stock CV

Qualcomm Inc is a $187B technology company. Revenue grew 1.9% over the last year, it keeps 21¢ of every dollar of sales as profit, and its net debt equals ~0.4 years of free cash flow. It trades at 20.2× earnings — around the middle of its own history.

> Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks.

## Identity

- **Ticker**: QCOM
- **Sector**: Technology
- **Industry**: Semiconductors
- **Headquarters**: SAN DIEGO, CA
- **Employees**: 52 000
- **Website**: https://www.qualcomm.com
- **Market cap**: $187B
- **Last price**: $175.40
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $44.1B
- **Net income**: $9.26B
- **Free cash flow**: $10.4B
- **Net debt**: $4.66B
- **P/E**: 20.2
- **Revenue growth (YoY)**: 1.9%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 57 |
| Growth | 23 |
| Profitability | 90 |
| Health | 70 |
| Quality | 77 |
| Moat | 75 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +1.9% YoY
- [x] Profitable — $9.26B TTM
- [ ] Profit growing — -23.9% YoY
- [x] Generates cash — $10.4B TTM
- [x] Debt under control — ~0.4y of cash flow to repay
- [x] Established company — $187B market cap
- [x] Not printing shares — -3.8% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 50/100
- [x] Pays a dividend — yield 2.04%
- [x] Valuation not extreme — P/E 20.2

## Experience (career milestones)

- **2025** — Qualcomm agreed to acquire British semiconductor maker of high-speed wired connectivity, Alphawave IP Group, for…
- **2024** — It was announced by the Federal Trade Commission that Qualcomm's proposed acquisition of Autotalks…
- **2023** — Qualcomm introduced the Snapdragon X series, a computing platform for Windows PCs which includes a…
- **FY2022** — Best year on record: $12.9B net income
- **2022** — Qualcomm acquired the advanced driver-assistance systems and autonomous driving software brand…
- **2021** — The acquisition was completed in March 2021, and it was announced that its first products would be laptop CPUs,…
- **2018** — Qualcomm's NXP acquisition then became a part of the 2018 China–United States trade war
- **FY2016** — First recorded profitable year: $5.71B net income
- **FY2016** — Revenue already above $10B: $23.6B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2016** — Qualcomm developed its first beta processor chip for servers and PCs called "Server Development Platform"…
- **2016** — Qualcomm announced its intent to acquire NXP Semiconductors for $47 billion in October 2016
- **1991** — To obtain funding, the company filed an initial public offering in September 1991, raising 
- **Jul 1, 1985** — Qualcomm was established on July 1, 1985 by seven former Linkabit employees led by Irwin Jacobs

## Strengths

- High gross margin (54.2%)
- Strongly profitable — 21.0% net margin
- Strong cash conversion — FCF is 23.6% of revenue
- Interest covered 38.4× by operating earnings
- High returns on invested capital (ROIC 23.5%)

## Watch-outs

- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $33.6B | $9.04B | $8.65B |
| FY2022 | $44.2B | $12.9B | $6.83B |
| FY2023 | $35.8B | $7.23B | $9.85B |
| FY2024 | $39.0B | $10.1B | $11.2B |
| FY2025 | $44.3B | $5.54B | $12.8B |

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Source: https://stockcv.com/QCOM — derived from company filings; may be delayed or incomplete. Information, not investment advice.