Analysis of Income Taxes
- Income Tax Expense (Benefit)
- Effective Income Tax Rate (EITR)
- Components of Deferred Tax Assets and Liabilities
- Deferred Tax Assets and Liabilities, Classification
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
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Qualcomm Inc. pages available for free this week:
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
- Analysis of Debt
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Income Tax Expense (Benefit)
Qualcomm Inc., income tax expense (benefit), continuing operations
US$ in millions
Based on: 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).
| Item | Description | The company |
|---|---|---|
| Current provision | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | Qualcomm Inc. current provision increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level. |
| Deferred provision (benefit) | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | Qualcomm Inc. deferred provision (benefit) increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
| Income tax provision from continuing operations | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Qualcomm Inc. income tax provision from continuing operations increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
Effective Income Tax Rate (EITR)
Qualcomm Inc., effective income tax rate (EITR) reconciliation
| Sep 24, 2023 | Sep 25, 2022 | Sep 26, 2021 | Sep 27, 2020 | Sep 29, 2019 | Sep 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Federal statutory tax rate | |||||||
| Effective tax rate, excluding U.S. tax reform | |||||||
| Effective tax rate |
Based on: 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).
| Item | Description | The company |
|---|---|---|
| Effective tax rate, excluding U.S. tax reform | Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Qualcomm Inc. effective tax rate, excluding U.S. tax reform increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |
Components of Deferred Tax Assets and Liabilities
Qualcomm Inc., components of deferred tax assets and liabilities
US$ in millions
Based on: 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).
| Item | Description | The company |
|---|---|---|
| Gross deferred tax assets | Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Qualcomm Inc. gross deferred tax assets increased from 2021 to 2022 and from 2022 to 2023. |
| Net deferred tax assets | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Qualcomm Inc. net deferred tax assets increased from 2021 to 2022 and from 2022 to 2023. |
| Net deferred tax assets (liabilities) | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | Qualcomm Inc. net deferred tax assets (liabilities) increased from 2021 to 2022 and from 2022 to 2023. |
Deferred Tax Assets and Liabilities, Classification
Qualcomm Inc., deferred tax assets and liabilities, classification
US$ in millions
| Sep 24, 2023 | Sep 25, 2022 | Sep 26, 2021 | Sep 27, 2020 | Sep 29, 2019 | Sep 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Non-current deferred tax assets | |||||||
| Non-current deferred tax liabilities (included in Other liabilities) |
Based on: 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).
| Item | Description | The company |
|---|---|---|
| Non-current deferred tax assets | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. | Qualcomm Inc. non-current deferred tax assets increased from 2021 to 2022 and from 2022 to 2023. |
| Non-current deferred tax liabilities (included in Other liabilities) | Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. | Qualcomm Inc. non-current deferred tax liabilities (included in Other liabilities) increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Qualcomm Inc., adjustments to financial statements
US$ in millions
Based on: 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).
Qualcomm Inc., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Qualcomm Inc., adjusted financial ratios
Based on: 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).
| Financial ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Qualcomm Inc. adjusted net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Qualcomm Inc. adjusted total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Qualcomm Inc. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023. |
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Qualcomm Inc. adjusted ROE deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Qualcomm Inc. adjusted ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Qualcomm Inc., Financial Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).
2023 Calculations
1 Net profit margin = 100 × Net income (loss) ÷ Revenues
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Revenues
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Qualcomm Inc. adjusted net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).
2023 Calculations
1 Total asset turnover = Revenues ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= ÷ =
| Activity ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Qualcomm Inc. adjusted total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).
2023 Calculations
1 Financial leverage = Total assets ÷ Stockholders’ equity
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Qualcomm Inc. adjusted financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).
2023 Calculations
1 ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted stockholders’ equity
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Qualcomm Inc. adjusted ROE deteriorated from 2021 to 2022 and from 2022 to 2023. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).
2023 Calculations
1 ROA = 100 × Net income (loss) ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Qualcomm Inc. adjusted ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |