QCOM
QUALCOMM Incorporated
QCOM's fundamentals are mixed: it turned 20% of its revenue into free cash flow, but its operating margin fell 8 points to 20%. At 14x earnings, it's trading below its usual 20x.
QCOM Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Healthy |
QCOM's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
QCOM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 14x | $175 | -1.1% |
| Current | 14x | $177 | — |
| Fair | 20x | $248 | +40% |
| Expensive | 26x | $333 | +88% |
Historical ranges are pointers, not guarantees.
QCOM's PE is in its cheap range at 14x.
QCOM Forward outlook
There aren't enough analyst estimates for QCOM to show an outlook.
QCOM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $12.70 | +153% |
| Q2 2026 | $8.76 | -15% |
| Q1 2026 | $9.32 | -4.9% |
| Q4 2025 | $4.96 | -47% |
| Q3 2025 | $5.01 | -44% |
| Q2 2025 | $10.35 | +34% |
| Q1 2025 | $9.80 | +32% |
| Q4 2024 | $9.34 | +35% |
QCOM earned $12.70 per share over the past year, up 153% from the year before.
QCOM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $10.3B | -8.4% |
| Q2 2026 | $9.9B | -4% |
| Q1 2026 | $10.6B | -3.5% |
| Q4 2025 | $12.3B | +5% |
| Q3 2025 | $11.3B | +10% |
| Q2 2025 | $10.4B | +10% |
| Q1 2025 | $11B | +17% |
| Q4 2024 | $11.7B | +17% |
QCOM's revenue grew through 2024 and has held roughly level since: $10.3B last quarter, down 8.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 13% | -13 points |
| Q2 2026 | 16% | -10 points |
| Q1 2026 | 22% | -6.6 points |
| Q4 2025 | 27% | -3 points |
| Q3 2025 | 26% | +0.7 points |
| Q2 2025 | 27% | +3 points |
| Q1 2025 | 28% | +3.5 points |
| Q4 2024 | 30% | +1 points |
QCOM's operating margin was 13% last quarter, down 13 points from the same quarter a year ago, near the bottom of its range since 2019.
QCOM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.8B | -49% |
| Q2 2026 | $495M | -81% |
| Q1 2026 | $1.9B | -18% |
| Q4 2025 | $4.4B | +2.5% |
| Q3 2025 | $3.6B | +50% |
| Q2 2025 | $2.6B | -3.2% |
| Q1 2025 | $2.3B | -31% |
| Q4 2024 | $4.3B | +58% |
QCOM's free cash flow has been positive every quarter for seven years: $8.7B over the past year, down 33% from the year before.
QCOM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +4M shares |
| 1 year | -2.9% | -32M shares |
| 3 years | -4.7% | -53M shares |
| 5 years | -6.6% | -76M shares |
| Available history | -7.4% | -86M shares |
QCOM has 1.1B diluted shares, down 2.9% from a year ago, with $7.8B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1B |
| Q2 2026 | $1.4B |
| Q1 2026 | $2.8B |
| Q4 2025 | $2.7B |
| Q3 2025 | $2.4B |
| Q2 2025 | $2.8B |
| Q1 2025 | $1.7B |
| Q4 2024 | $1.8B |
QCOM spent $7.8B buying back its own shares over the past year, down 11% from the year before.
QCOM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.0x | Healthy |
| Q2 2026 | 0.7x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.4x | Very low |
QCOM's net debt is about a year of its operating earnings (EBITDA), up from less than a year a year ago.
QCOM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.8 | Neutral |
| Stochastic | 40.2 | Neutral |
QCOM's weekly RSI is 51 (neutral) and its Stochastic is 40 (neutral).
QCOM PE vs Technology Sector
| Metric | QCOM | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 28x | 50% below |
| PE % | 17 | 35 | 18 pts below |
QCOM is trading at 14x earnings, a 50% discount to the Technology sector's median of 28x.
QCOM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $177.2 | 0% below |
| 20 week MA | $172.8 | 2.5% above |
| 50 week MA | $170.7 | 3.8% above |
| 100 week MA | $164.3 | 7.8% above |
| 200 week MA | $155.1 | 14% above |
QCOM's trend is up, with a small recent dip: it's below only its 8-week average, and 14% above its 200-week average.
QCOM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $88.8 | $148.8 | +68% |
| 2021 | $148.8 | $182.7 | +23% |
| 2022 | $182.7 | $110.8 | -39% |
| 2023 | $110.8 | $144.6 | +30% |
| 2024 | $144.6 | $157.2 | +8.7% |
| 2025 | $157.2 | $174.8 | +11% |
| 2026 YTD | $174.8 | $177.1 | +1.3% |
QCOM has finished higher in five of the last six years. It's up 1.3% so far in 2026.