15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 13.5% per year over the past 5 years.
Net income has grown slower than revenue (1.3% vs 13.5% per year).
Operating margin has expanded, at 27.9% in the latest year.
Free cash flow has grown 23.8% per year over the past 5 years.
Financial health
Total debt ($14.8B) exceeds cash ($5.5B); net debt is $9.3B.
Total debt has grown slower than revenue (-0.6% vs 13.5% per year).
Operating income covered interest expense 19× in the latest year, up from 10× 5 years ago.
Total debt is 1.1× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$44.3B
$5.5B
55.4%
27.9%
$12.8B
$14.8B
$5.5B
2024
$39.0B
$10.1B
56.2%
25.8%
$11.2B
$14.6B
$7.8B
2023
$35.8B
$7.2B
55.7%
21.7%
$9.8B
$15.4B
$8.4B
2022
$44.2B
$12.9B
57.8%
35.9%
$6.8B
$15.0B
$2.8B
2021
$33.6B
$9.0B
57.5%
29.2%
$8.6B
$15.2B
$7.1B
2020
$23.5B
$5.2B
60.7%
26.6%
$4.4B
$15.2B
$6.7B
2019
$24.3B
$4.4B
64.6%
31.6%
$6.4B
$15.4B
$11.8B
2018
$22.6B
-$5.0B
54.7%
2.7%
$3.1B
$15.4B
$11.8B
2017
$22.3B
$2.4B
56.0%
11.6%
$4.3B
$20.9B
$35.0B
2016
$23.6B
$5.7B
58.6%
27.6%
$7.1B
$10.0B
$5.9B
2015
$25.3B
$5.3B
58.9%
22.8%
$4.5B
$11.0B
$7.6B
2014
$26.5B
$8.0B
59.7%
28.5%
$7.7B
$0
$7.9B
2013
$24.9B
$6.9B
60.5%
29.1%
$7.7B
—
$6.1B
2012
$19.1B
$6.1B
62.9%
29.7%
$4.7B
—
$3.8B
2011
$15.0B
$4.3B
67.4%
33.6%
$4.3B
—
$5.5B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$10.6B
$7.4B
53.8%
21.8%
$1.9B
$14.8B
$5.4B
Dec '25
$12.3B
$3.0B
54.6%
27.5%
$4.4B
$14.8B
$7.2B
Sep '25
$11.3B
-$3.1B
55.3%
25.9%
$3.6B
$14.8B
$5.5B
Jun '25
$10.4B
$2.7B
55.6%
26.6%
$2.6B
$14.8B
$5.4B
Mar '25
$11.0B
$2.8B
55.0%
28.4%
$2.3B
$13.3B
$7.2B
Dec '24
$11.7B
$3.2B
55.8%
30.5%
$4.3B
$13.2B
$8.7B
Sep '24
$10.2B
$2.9B
56.4%
25.2%
$2.4B
$14.6B
$7.8B
Jun '24
$9.4B
$2.1B
55.6%
23.6%
$2.7B
$13.2B
$7.8B
Mar '24
$9.4B
$2.3B
56.3%
24.9%
$3.4B
$14.5B
$9.2B
Dec '23
$9.9B
$2.8B
56.6%
29.5%
$2.7B
$14.6B
$8.1B
Sep '23
$8.6B
$1.5B
55.0%
16.3%
$3.8B
$15.4B
$8.4B
Jun '23
$8.5B
$1.8B
55.1%
21.6%
$2.4B
$14.5B
$6.1B
Mar '23
$9.3B
$1.7B
55.2%
22.5%
$1.0B
$15.5B
$3.5B
Dec '22
$9.5B
$2.2B
57.3%
26.0%
$2.7B
$16.9B
$4.8B
Sep '22
$11.4B
$2.9B
57.3%
32.2%
$812M
$15.0B
$2.8B
Jun '22
$10.9B
$3.7B
56.0%
40.9%
$2.3B
$15.0B
$2.7B
Mar '22
$11.2B
$2.9B
58.4%
34.6%
$2.2B
$12.7B
$7.2B
Dec '21
$10.7B
$3.4B
59.8%
36.1%
$1.5B
$13.7B
$6.6B
Sep '21
$9.3B
$2.8B
57.8%
31.1%
$647M
$15.2B
$7.1B
Jun '21
$8.1B
$2.0B
57.8%
27.2%
$2.9B
$14.2B
$7.4B
Valuation over time
How the market has priced QCOM against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 10.4× (Mar '23) to 38.7× (Jun '26).
The price-to-sales ratio has risen from 3.0× (Mar '23) to 4.8× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is QCOM growing its revenue and profit?
Over the past 5 years, Qualcomm's revenue has grown 13.5% per year, and net income grown 1.3% per year. These are computed facts, not advice.
How much debt does QCOM have?
As of FY2025, Qualcomm reported $14.8B of total debt against $5.5B of cash; operating income covered interest expense 19×.
What is QCOM's profit margin?
In FY2025, gross margin was 55.4%, operating margin 27.9%, and net margin 12.5%.
What is QCOM's P/E ratio?
As of Jun '26, Qualcomm traded at a price-to-earnings ratio of about 38.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.