Stock Analysis on Net

Qualcomm Inc. (NASDAQ:QCOM)

$24.99

Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Qualcomm Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

Microsoft Excel
Dec 28, 2025 Sep 28, 2025 Jun 29, 2025 Mar 30, 2025 Dec 29, 2024 Sep 29, 2024 Jun 23, 2024 Mar 24, 2024 Dec 24, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 25, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 26, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 27, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019
Cash and cash equivalents
Restricted cash
Marketable securities
Accounts receivable, net
Inventories
Held for sale assets
Other current assets
Current assets
Property, plant and equipment, net
Goodwill
Other intangible assets, net
Held for sale assets
Other assets
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2025-12-28), 10-K (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-23), 10-Q (reporting date: 2024-03-24), 10-Q (reporting date: 2023-12-24), 10-K (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-K (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26), 10-K (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29).


The asset composition of the company exhibits notable shifts over the analyzed period, spanning from December 2019 to September 2025. Overall, total assets demonstrate a general increasing trend, though with some fluctuations, particularly noticeable between March 2022 and September 2025.

Cash and Cash Equivalents
Cash and cash equivalents experienced a decline from approximately $11.1 billion in December 2019 to a low of $6.0 billion in March 2021. Subsequently, a recovery was observed, peaking at $9.2 billion in December 2023, before decreasing to $7.8 billion in June 2024 and $8.7 billion in September 2024. A further decline to $7.2 billion was noted in December 2024, followed by a slight increase to $7.2 billion in September 2025.
Marketable Securities
Marketable securities showed a substantial increase from $0.3 billion in December 2019 to a peak of $5.5 billion in June 2021. Following this peak, the value generally decreased, reaching $3.9 billion in September 2023. A subsequent increase occurred, reaching $5.6 billion in September 2024, before decreasing to $4.6 billion in December 2024. The value remained at $4.6 billion in September 2025.
Accounts Receivable, Net
Accounts receivable exhibited volatility throughout the period. It increased from $2.7 billion in December 2019 to $4.0 billion in September 2020, then decreased to $3.3 billion in March 2021. A subsequent rise to $4.0 billion occurred in December 2021, followed by a peak of $5.6 billion in June 2022. The value then decreased to $3.1 billion in March 2023, and fluctuated between $3.0 billion and $4.3 billion through September 2025.
Inventories
Inventories consistently increased from $1.4 billion in December 2019 to $6.9 billion in December 2022. This upward trend continued, reaching $6.6 billion in September 2023, and $6.5 billion in September 2025. This represents a significant accumulation of inventory over the observed timeframe.
Goodwill
Goodwill remained relatively stable between December 2019 and June 2021, fluctuating around $6.3 billion. A significant increase occurred in March 2021, reaching $7.2 billion, and continued to rise to $10.6 billion in September 2023. A substantial increase to $14.2 billion was observed in December 2025.
Other Assets
Other assets demonstrated a consistent upward trend, increasing from $5.4 billion in December 2019 to $13.2 billion in September 2024. A decrease to $12.9 billion was observed in December 2024, followed by a slight decrease to $7.7 billion in September 2025.
Total Assets
Total assets increased from $33.1 billion in December 2019 to a peak of $41.2 billion in September 2024. A decrease to $50.1 billion was observed in December 2024, followed by a decrease to $53.0 billion in September 2025. The increase in total assets is largely driven by increases in non-current assets, particularly goodwill and other assets.

The company’s asset structure has evolved, with a notable increase in goodwill and other assets, alongside a significant accumulation of inventories. Fluctuations in cash and marketable securities suggest active cash management. The changes in accounts receivable indicate potential shifts in credit policies or sales terms. The overall trend in total assets suggests growth, although recent periods show some volatility.


Assets: Selected Items


Current Assets: Selected Items