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QUALCOMM INC/DEQCOM

Sector
Technology
Industry
Radio & Tv Broadcasting & Communications Equipment
Exchange
Nasdaq

Stock Price $QCOM

Latest filings

You are here#28 of 67 in Technology by market cap

Filing record · 2016–202610-K1010-Q338-K138

QCOM filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 138 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Aug ’17Aug ’17
  2. Leadership change8-K · Aug ’19Aug ’19
  3. Material agreement8-K · Oct ’21Oct ’21
  4. FY2025 annual report10-K · Nov ’25Nov ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $44.28B
YoY changeLargest recent move+42.6%in FY21Latest +13.7%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All QCOM Financial Metrics59 metrics

Income Statement15

Balance Sheet26

Cash Flow13

Per Share5

02—Overview

QUALCOMM INC/DE Financial Overview 2021–2025

Updated Jul 10, 2026

Qualcomm's net income plummeted 45% to $5.5 billiona in FY2025, a surprising optical plunge that masks robust operational strength behind a one-time $5.7 billion deferred tax charge. The core investment thesis remains intact: Qualcomm is successfully leveraging its foundational wireless technology to pivot from a pure-play smartphone chipmaker into a diversified high-performance computing powerhouse.

Anchoring this transformation, total revenue grew from $33.6 billionb in FY2021 to a record $44.3 billion in FY2025. This top-line expansion is heavily driven by the semiconductor segment (QCT), which delivered a 16% revenue increase alongside a highly profitable 30% EBT margin in FY2025. To cement its footprint in automotive and Internet of Things (IoT) markets, the company poured $9.0 billion into research and development over the year. Simultaneously, Qualcomm has aggressively returned capital to investors, executing $8.8 billion in share repurchases in FY2025 and authorizing a massive new $20.0 billion buyback program in early FY2026.

At the close of FY2025, the market awarded Qualcomm a $181.7 billionc market cap, with shares priced at $169.20 and trading at a 33.8x price-to-earnings ratio. This valuation reflects investor confidence in the company’s strategic offensive—including a $2.3 billion acquisition of Alphawave to accelerate data center expansion—even as it navigates cyclical memory supply constraints and the persistent risk of key handset customers vertically integrating their own silicon.

Recent Developments (Q1 and Q2 2026)

Qualcomm maintained top-line momentum through H1 2026, culminating in a definitive agreement to acquire Modular Inc. for up to 19.2 million shares. Total revenues for H1 2026 edged up to $22.85 billiond. Automotive and IoT segments drove growth, adding $507 million and $284 million respectively. This performance offset a $655 million decline in handset revenues. R&D spending accelerated to $4.92 billion, representing 22% of revenues. The company also increased its quarterly dividend to $0.92 per share and approved a 24 million share increase for its long-term incentive plan.

Bulls will argue surging automotive and IoT demand proves the ongoing diversification strategy is working. Bears will warn that contracting handset sales expose immediate vulnerabilities to OEM inventory adjustments. At 31.1x earnings as of April 29, 2026, the stock remains richly valued relative to its nearly flat top-line growth.

What to watch: the closing and integration of the Modular Inc. transaction; automotive segment revenue growth offsetting smartphone market softness.

03—Filings

Recent SEC Filings

  1. 8-KQUALCOMM INC/DE 8-K Report, Unregistered Securities Sale (Sep 8, 2026)QUALCOMM Incorporated (QCOM) announced the issuance of a warrant to an affiliate of Amazon, granting them the right to acquire up to 25 million shares of QCOM's common stock at an exercise price of $161.26 per share. This warrant is a component of a strategic collaboration focused on Amazon's purchase of QTI server chip products, technology, systems, and manufacturing services. The warrant is subject to vesting tied to specific commercial arrangements and purchase commitments from Amazon, up to a potential $60 billion in payments. While 3.75 million shares are vested immediately based on initial commitments, the full potential dilution is linked to future Amazon spending. This issuance is being conducted under an exemption from registration, signifying a non-dilutive event at present but with potential future dilution depending on the success of the collaboration.
  2. 8-KQUALCOMM INC/DE 8-K Report, Corporate Update (Jul 31, 2026)Qualcomm Incorporated (QCOM) has filed an 8-K report detailing the resale of 17,826,566 shares of common stock by selling stockholders. These shares represent the consideration issued for the previously announced acquisition of Modular Inc. The filing includes a prospectus supplement to the Company's Form S-3ASR registration statement, facilitating the resale of these shares which were originally issued in a private placement exempt from registration requirements. This event is significant for investors as it marks the formal process for a large block of shares, issued as acquisition consideration, to become available for trading in the public market. The filing clarifies the regulatory steps taken to allow for this resale, fulfilling obligations under a Registration Rights Agreement. Investors should monitor the market impact of these shares becoming available and consider the ongoing integration and strategic value of the Modular Inc. acquisition.
  3. 8-KQUALCOMM INC/DE 8-K Report, Financial Results (Jul 29, 2026)Qualcomm (QCOM) reported fiscal Q3 2026 results (quarter ended June 28, 2026) with revenues of $9.9 billion, down 4% year-over-year, and GAAP diluted EPS of $1.87 (down 23%) versus non-GAAP EPS of $2.21 (down 20%). The headline growth story is in Automotive and IoT: combined QCT Automotive and IoT revenues grew 28% year-over-year, with Automotive up 61% to $1.59 billion. Handsets fell 20% to $5.09 billion, driving the overall decline. Management cited a challenging memory and supply environment, and GAAP operating income fell 41% to $1.63 billion as R&D rose 17% and SG&A rose 27%. Non-GAAP EBT margin for QCT compressed to 26% from 30%. Capital returns remained substantial, with $2.3 billion returned to stockholders in the quarter, including $973 million in dividends and $1.4 billion in buybacks. The balance sheet shows notable changes: goodwill rose to $14.3 billion and deferred tax assets jumped to $5.7 billion, reflecting the completed Modular Inc. acquisition and a large tax benefit. Nine-month GAAP net income of $12.4 billion was inflated by a $4.1 billion income tax benefit, so it should not be read as operating profitability. Management reiterated a target of $40 billion in non-handset revenues by fiscal 2029 and expects non-handset revenue growth, including Data Center, to accelerate from 24% in fiscal 2026 to more than 60% in fiscal 2027. For investors, the key tension is between a shrinking handset franchise and a rapidly growing diversified business that is not yet large enough to offset it. Near-term margin pressure from input costs and elevated R&D spending, along with China concentration and customer vertical integration risks, will determine whether the fiscal 2027 inflection is achieved. The filing itself is a Regulation FD-compliant earnings release furnished under Item 2.02 and does not include guidance details in the excerpt provided.
  4. 8-KQUALCOMM INC/DE 8-K Report, Unregistered Securities Sale (Jun 24, 2026)Qualcomm Incorporated (QCOM) announced a significant strategic move through an 8-K filing on June 24, 2026, detailing an agreement to acquire Modular Inc. This acquisition will be primarily financed through the issuance of up to 19.2 million shares of QCOM's common stock to Modular's equity owners. The transaction is structured as a private placement, leveraging exemptions under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, indicating that registration with the SEC is not required for these shares. While the acquisition is expected to enhance Qualcomm's strategic position, investors should note the inherent risks and uncertainties associated with such transactions. The filing emphasizes that the completion of the acquisition is subject to customary closing conditions, and actual results could differ materially from expectations. Key factors influencing the outcome include the timing and ability to close the deal, potential impacts on Modular's business relationships, the achievement of projected benefits, and the possibility of unforeseen liabilities or purchase price adjustments that could affect the final share count.
  5. 8-KQUALCOMM INC/DE 8-K Report, Financial Results (Apr 29, 2026)QUALCOMM's fiscal Q2 2026 (quarter ended March 29, 2026) revenue was $10.6 billion, down 3% year-over-year on a GAAP basis and 2% on a non-GAAP basis. QCT revenue fell 4% to $9.1 billion, driven by a 13% decline in handset revenue to $6.0 billion, which management attributes to a challenging memory supply and pricing environment. Offsetting this, Automotive revenue rose 38% to a record $1.3 billion and IoT grew 9% to $1.7 billion; combined Automotive and IoT revenue grew 20%. QTL licensing revenue increased 5% to $1.4 billion. Non-GAAP diluted EPS was $2.65, down 7% from $2.85, while non-GAAP operating income fell to $3.3 billion from $3.7 billion. GAAP diluted EPS of $6.88 is not representative of underlying operating performance. It includes a $5.7 billion ($5.33 per share) income tax benefit from releasing a valuation allowance established in Q4 fiscal 2025, as the company now expects to realize its existing federal deferred tax assets following IRS and Treasury guidance on the corporate alternative minimum tax. This benefit is excluded from non-GAAP results. Investors should focus on the non-GAAP trend, which shows margin pressure: non-GAAP EBT margin fell to 31% from 34%, and R&D rose meaningfully on a GAAP basis to $2.46 billion from $2.22 billion. Capital return remained substantial, with $3.7 billion returned to stockholders in the quarter, including $945 million in dividends and $2.8 billion in buybacks of 19 million shares. The company completed $5.4 billion of repurchases in the first half of fiscal 2026 and announced a new $20 billion authorization. Management highlighted its entry into the data center market through a custom silicon engagement with a leading hyperscaler, with initial shipments expected later this calendar year, and plans to provide an update at its Investor Day on June 24, 2026. Balance sheet changes include goodwill rising to $14.3 billion from $11.4 billion, likely reflecting acquisitions, and a $6.0 billion deferred tax asset position.
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04—See also

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