QCOM

MKT CAP:$158B

QUALCOMM Incorporated

Market Cap

$158B

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$147.97-$25.01 (-14.46%)

Apr 24, 2026

Company Details

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Lice...

CEO

Cristiano Renno Amon

IPO Date

Dec 13, 1991

Website

www.qualcomm.com

Key Metrics TTM

Revenue

$44.9B

+6.5% YoY

Net Income

$5.4B

EPS (Diluted)

$4.96

Free Cash Flow

$12.9B

Revenue / Share

$41.58

Gross Margin

55.1%

Operating Margin

27.1%

Net Margin

12.0%

FCF Margin

28.8%

P/S

3.5x

P/E

29.5x

Earnings Reports

Q2 2026

Apr 29, 2026

PENDING

Q1 2026

Feb 4, 2026

$12.3B+5.0%EPS $2.78

FY 2025

Nov 5, 2025

$44.3B+13.7%EPS $5.01

Q4 2025

Nov 5, 2025

$11.3B+10.0%EPS -$2.77

Q3 2025

Jul 30, 2025

$10.4BEPS $2.43

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 20	$4.9B	$2.8B	$782M
Q4 20	$8.3B	$5.6B	$3.5B
Q1 21	$8.2B	$4.7B	$2.5B
Q2 21	$7.9B	$4.5B	$2.2B
Q3 21	$8.1B	$4.7B	$2.2B
Q4 21	$9.3B	$5.4B	$2.9B
Q1 22	$10.7B	$6.4B	$3.9B
Q2 22	$11.2B	$6.5B	$3.9B
Q3 22	$10.9B	$6.1B	$4.5B
Q2 23	$9.3B	$5.1B	$2.1B
Q4 24	$10.2B	$5.8B	$2.6B
Q1 25	$11.7B	$6.5B	$3.6B
Q2 25	$11.0B	$6.0B	$3.1B
Q3 25	$10.4B	$5.8B	$2.8B
Q4 25	$11.3B	$6.2B	$2.9B
Q1 26	$12.3B	$6.7B	$3.4B

Valuation

Quarter	P/S	P/E
Q3 20	5.0x	36.7x
Q4 20	5.7x	25.8x
Q1 21	6.3x	24.9x
Q2 21	5.0x	18.5x
Q3 21	4.8x	17.1x
Q4 21	4.5x	16.7x
Q1 22	5.8x	21.0x
Q2 22	4.5x	15.9x
Q3 22	3.4x	11.1x
Q2 23	3.3x	11.7x
Q4 24	4.5x	16.7x
Q1 25	4.1x	14.8x
Q2 25	4.0x	15.8x
Q3 25	4.0x	15.1x
Q4 25	4.1x	32.7x
Q1 26	4.2x	35.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	$1.9B	$1.5B
Q4 20	$1.7B	$1.4B
Q1 21	$3.2B	$2.7B
Q2 21	$2.9B	$2.4B
Q3 21	$3.4B	$2.9B
Q4 21	$1.1B	$647M
Q1 22	$2.1B	$1.5B
Q2 22	$2.7B	$2.2B
Q3 22	$2.9B	$2.3B
Q2 23	$1.5B	$1.0B
Q4 24	$2.6B	$2.4B
Q1 25	$4.6B	$4.3B
Q2 25	$2.6B	$2.3B
Q3 25	$2.9B	$2.6B
Q4 25	$4.0B	$3.6B
Q1 26	$5.0B	$4.4B

Capital Expenditures

Quarter	CapEx
Q3 20	$418M
Q4 20	$348M
Q1 21	$469M
Q2 21	$483M
Q3 21	$506M
Q4 21	$430M
Q1 22	$583M
Q2 22	$491M
Q3 22	$554M
Q2 23	$453M
Q4 24	$256M
Q1 25	$277M
Q2 25	$214M
Q3 25	$294M
Q4 25	$407M
Q1 26	$549M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 20	-49.2%	-4.8%
Q4 20	+73.4%	+19.0%
Q1 21	+62.2%	+41.1%
Q2 21	+52.1%	+36.5%
Q3 21	+64.7%	+42.7%
Q4 21	+11.9%	+31.5%
Q1 22	+30.0%	+19.8%
Q2 22	+40.7%	+26.6%
Q3 22	+35.7%	+10.2%
Q2 23	-0.7%	+11.7%
Q4 24	-4.3%	+12.0%
Q1 25	+4.5%	+11.1%
Q2 25	+0.4%	+21.6%
Q3 25	+11.8%	+5.8%
Q4 25	+10.0%	+9.0%
Q1 26	+5.0%	+9.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$296M	6.0%
Q4 20	$313M	3.8%
Q1 21	$392M	4.8%
Q2 21	$422M	5.3%
Q3 21	$424M	5.3%
Q4 21	$425M	4.6%
Q1 22	$496M	4.6%
Q2 22	$498M	4.5%
Q3 22	$516M	4.7%
Q2 23	$628M	6.8%
Q4 24	$697M	6.8%
Q1 25	$759M	6.5%
Q2 25	$702M	6.4%
Q3 25	$659M	6.4%
Q4 25	$0	0.0%
Q1 26	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q3 20	$1.5B	$511M
Q4 20	$1.6B	$551M
Q1 21	$1.7B	$567M
Q2 21	$1.8B	$557M
Q3 21	$1.9B	$597M
Q4 21	$1.9B	$619M
Q1 22	$1.9B	$608M
Q2 22	$2.0B	$624M
Q3 22	$2.1B	$655M
Q2 23	$2.2B	$614M
Q4 24	$2.3B	$761M
Q1 25	$2.2B	$723M
Q2 25	$2.2B	$706M
Q3 25	$2.2B	$771M
Q4 25	$2.4B	$910M
Q1 26	$2.5B	$865M

Revenue Segments

Quarter	Other Segments	Qct	Qsi	Qtl
Q3 20	$39M	$3.8B	$3M	$1.0B
Q1 21	$33M	$6.5B	$9M	$1.7B
Q2 21	$30M	$6.3B	$10M	$1.6B
Q3 21	$34M	$6.5B	$11M	$1.5B
Q1 22	—	$8.8B	$8M	$1.8B
Q2 22	$30M	$9.5B	$6M	$1.6B
Q3 22	$31M	$9.4B	$8M	$1.5B
Q2 23	$36M	$7.9B	$7M	$1.3B
Q1 25	—	$10.1B	—	$1.5B
Q2 25	—	$9.5B	—	$1.3B
Q3 25	—	$9.0B	—	$1.3B
Q4 25	—	$9.8B	—	$1.4B
Q1 26	—	$10.6B	—	$1.6B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$7.2B	$4.4B	$11.5B
Q3 22	$2.7B	$4.2B	$6.8B
Q4 22	$2.8B	$3.6B	$6.4B
Q1 23	$4.8B	$3.4B	$8.2B
Q2 23	$3.5B	$3.2B	$6.7B
Q3 23	$6.1B	$2.5B	$8.6B
Q4 23	$8.4B	$2.9B	$11.3B
Q1 24	$8.1B	$3.9B	$12.1B
Q2 24	$9.2B	$4.6B	$13.9B
Q3 24	$7.8B	$5.3B	$13.0B
Q4 24	$7.8B	$5.5B	$13.3B
Q1 25	$8.7B	$5.6B	$14.3B
Q2 25	$7.2B	$6.6B	$13.8B
Q3 25	$5.4B	$4.6B	$10.0B
Q4 25	$7.8B	$4.6B	$12.5B
Q1 26	$7.2B	$4.6B	$11.8B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 20	1.14B	-1.0%	-7.5%
Q4 20	1.15B	+0.8%	-5.2%
Q1 21	1.16B	+0.7%	-0.3%
Q2 21	1.15B	-0.4%	0.0%
Q3 21	1.15B	-0.5%	+0.5%
Q4 21	1.14B	-0.1%	-0.3%
Q1 22	1.14B	-0.2%	-1.2%
Q2 22	1.14B	-0.2%	-1.0%
Q3 22	1.13B	-0.5%	-1.0%
Q2 23	1.12B	-1.0%	-1.8%
Q4 24	1.13B	+0.6%	-1.1%
Q1 25	1.12B	-0.7%	-1.6%
Q2 25	1.11B	-0.6%	-1.7%
Q3 25	1.10B	-1.4%	-2.1%
Q4 25	1.10B	+0.5%	-2.2%
Q1 26	1.08B	-2.4%	-3.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 20	$132.2K	37K
Q4 20	$203.6K	41K
Q1 21	$200.9K	41K
Q2 21	$193.5K	41K
Q3 21	$196.6K	41K
Q4 21	$207.5K	45K
Q1 22	$237.9K	45K
Q2 22	$248.1K	45K
Q3 22	$243.0K	45K
Q2 23	$181.9K	51K
Q4 24	$209.1K	49K
Q1 25	$238.1K	49K
Q2 25	$224.1K	49K
Q3 25	$211.5K	49K
Q4 25	$216.8K	52K
Q1 26	$235.6K	52K

Revenue / Employee