Earnings quality
Compare earnings and operating cash flow for earnings quality.
QUALCOMM Incorporated
Ticker QCOM · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2026-11-04 · Period end 2026-09-27
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
operating margin is 20.1%; equity ratio is 8.1%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin20.1%
Equity ratio8.1%
Last priceUSD 173.19
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
QUALCOMM INC/DE is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Compare trends
Tel 8585871121 · As of filing date 2026-11-04
Financial statements
Income statement
| Account | FY2025 (ended Sep 28, 2025) | FY2026 (ended Sep 27, 2026) |
|---|---|---|
| Revenue | $44.3B | $43.1B |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit | $12.4B | $8.7B |
| Income tax | $7.1B | -$4.2B |
| Net income | $5.5B | $13.6B |
| Basic EPS | — | — |
Balance sheet
| Account | FY2025 (ended Sep 28, 2025) | FY2026 (ended Sep 27, 2026) |
|---|---|---|
| Cash & equivalents | $5.5B | $4.6B |
| Current assets | $25.8B | $22.3B |
| Non-current assets* | $24.4B | $38.6B |
| Total assets | $50.1B | $60.8B |
| Current liabilities | $9.1B | $12.0B |
| Non-current liabilities* | $19.8B | $18.4B |
| Total liabilities | $28.9B | $30.4B |
| Stockholders’ equity | $807.0M | $4.9B |
Cash flow statement
| Account | FY2025 (ended Sep 28, 2025) | FY2026 (ended Sep 27, 2026) |
|---|---|---|
| Operating cash flow | $14.0B | $11.1B |
| Investing cash flow | -$800.0M | -$2.0B |
| Financing cash flow | -$13.2B | -$12.3B |
| Cash at end of period | $5.5B | $4.6B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | $44.2B | $35.8B | $39.0B | $44.3B | $43.1B | |
| Operating profit | $15.9B | $7.8B | $10.1B | $12.4B | $8.7B | |
| Net income | $12.9B | $7.2B | $10.1B | $5.5B | $13.6B | |
| Total assets | $49.0B | $51.0B | $55.2B | $50.1B | $60.8B | |
| Cash & equivalents | $2.8B | $8.4B | $7.8B | $5.5B | $4.6B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from $44.3B to $43.1B (▼ -2.6%). Operating profit went from $12.4B to $8.7B (▼ -29.9%).
Operating cash flow was $11.1B (prior $14.0B), with cash on the balance sheet at $4.6B versus $5.5B.
Liquidity & leverage
Cash moved from $5.5B to $4.6B; current liabilities $12.0B.
Capital buffer
Stockholders’ equity moved from $807.0M to $4.9B.
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Source: SEC EDGAR 0000804328-26-000128
(QUALCOMM INC/DE), period end 2026-09-27.