Stock Analysis on Net
Stock Analysis on Net

Qualcomm Inc. (NASDAQ:QCOM)

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Qualcomm Inc., adjusted financial ratios

Microsoft Excel
Sep 29, 2024 Sep 24, 2023 Sep 25, 2022 Sep 26, 2021 Sep 27, 2020 Sep 29, 2019
Activity Ratio
Total Asset Turnover
Reported 0.71 0.70 0.90 0.81 0.66 0.74
Adjusted 0.78 0.75 0.93 0.84 0.68 0.74
Liquidity Ratio
Current Ratio
Reported 2.40 2.33 1.75 1.68 2.14 1.88
Adjusted 2.47 2.41 1.80 1.77 2.29 2.00
Solvency Ratios
Debt to Equity
Reported 0.56 0.71 0.86 1.58 2.59 3.25
Adjusted 0.71 0.86 0.96 1.73 2.66 2.94
Debt to Capital
Reported 0.36 0.42 0.46 0.61 0.72 0.76
Adjusted 0.42 0.46 0.49 0.63 0.73 0.75
Financial Leverage
Reported 2.10 2.37 2.72 4.14 5.86 6.71
Adjusted 2.31 2.54 2.80 4.22 5.60 5.80
Profitability Ratios
Net Profit Margin
Reported 26.03% 20.19% 29.27% 26.94% 22.09% 18.07%
Adjusted 21.68% 16.73% 28.27% 25.21% 20.29% 24.35%
Return on Equity (ROE)
Reported 38.60% 33.51% 71.81% 90.88% 85.54% 89.35%
Adjusted 39.07% 31.81% 73.20% 89.09% 76.80% 104.93%
Return on Assets (ROA)
Reported 18.39% 14.17% 26.39% 21.93% 14.60% 13.31%
Adjusted 16.89% 12.51% 26.19% 21.12% 13.70% 18.10%

Based on: 10-K (reporting date: 2024-09-29), 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).

Financial 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 deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Qualcomm Inc. adjusted current ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Qualcomm Inc. adjusted debt-to-equity ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Qualcomm Inc. adjusted debt-to-capital ratio improved from 2022 to 2023 and from 2023 to 2024.
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 2022 to 2023 and from 2023 to 2024.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Qualcomm Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Qualcomm Inc. adjusted ROE deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Qualcomm Inc. adjusted ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Qualcomm Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Sep 29, 2024 Sep 24, 2023 Sep 25, 2022 Sep 26, 2021 Sep 27, 2020 Sep 29, 2019
Reported
Selected Financial Data (US$ in millions)
Revenues 38,962 35,820 44,200 33,566 23,531 24,273
Total assets 55,154 51,040 49,014 41,240 35,594 32,957
Activity Ratio
Total asset turnover1 0.71 0.70 0.90 0.81 0.66 0.74
Adjusted
Selected Financial Data (US$ in millions)
Adjusted revenues2 38,955 35,699 43,737 33,213 23,135 23,878
Adjusted total assets3 49,992 47,730 47,211 39,649 34,243 32,115
Activity Ratio
Adjusted total asset turnover4 0.78 0.75 0.93 0.84 0.68 0.74

Based on: 10-K (reporting date: 2024-09-29), 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).

1 2024 Calculation
Total asset turnover = Revenues ÷ Total assets
= 38,962 ÷ 55,154 = 0.71

2 Adjusted revenues. See details »

3 Adjusted total assets. See details »

4 2024 Calculation
Adjusted total asset turnover = Adjusted revenues ÷ Adjusted total assets
= 38,955 ÷ 49,992 = 0.78

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 deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Adjusted Current Ratio

Microsoft Excel
Sep 29, 2024 Sep 24, 2023 Sep 25, 2022 Sep 26, 2021 Sep 27, 2020 Sep 29, 2019
Reported
Selected Financial Data (US$ in millions)
Current assets 25,231 22,464 20,724 20,075 18,519 16,765
Current liabilities 10,504 9,628 11,866 11,951 8,672 8,935
Liquidity Ratio
Current ratio1 2.40 2.33 1.75 1.68 2.14 1.88
Adjusted
Selected Financial Data (US$ in millions)
Current assets 25,231 22,464 20,724 20,075 18,519 16,765
Adjusted current liabilities2 10,207 9,335 11,497 11,339 8,104 8,370
Liquidity Ratio
Adjusted current ratio3 2.47 2.41 1.80 1.77 2.29 2.00

Based on: 10-K (reporting date: 2024-09-29), 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).

1 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 25,231 ÷ 10,504 = 2.40

2 Adjusted current liabilities. See details »

3 2024 Calculation
Adjusted current ratio = Current assets ÷ Adjusted current liabilities
= 25,231 ÷ 10,207 = 2.47

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Qualcomm Inc. adjusted current ratio improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Debt to Equity

Microsoft Excel
Sep 29, 2024 Sep 24, 2023 Sep 25, 2022 Sep 26, 2021 Sep 27, 2020 Sep 29, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 14,634 15,398 15,482 15,745 15,726 15,933
Stockholders’ equity 26,274 21,581 18,013 9,950 6,077 4,909
Solvency Ratio
Debt to equity1 0.56 0.71 0.86 1.58 2.59 3.25
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 15,440 16,067 16,159 16,299 16,231 16,287
Adjusted stockholders’ equity3 21,611 18,774 16,890 9,399 6,111 5,541
Solvency Ratio
Adjusted debt to equity4 0.71 0.86 0.96 1.73 2.66 2.94

Based on: 10-K (reporting date: 2024-09-29), 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).

1 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 14,634 ÷ 26,274 = 0.56

2 Adjusted total debt. See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= 15,440 ÷ 21,611 = 0.71

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Qualcomm Inc. adjusted debt-to-equity ratio improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Debt to Capital

Microsoft Excel
Sep 29, 2024 Sep 24, 2023 Sep 25, 2022 Sep 26, 2021 Sep 27, 2020 Sep 29, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 14,634 15,398 15,482 15,745 15,726 15,933
Total capital 40,908 36,979 33,495 25,695 21,803 20,842
Solvency Ratio
Debt to capital1 0.36 0.42 0.46 0.61 0.72 0.76
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 15,440 16,067 16,159 16,299 16,231 16,287
Adjusted total capital3 37,051 34,841 33,049 25,698 22,342 21,828
Solvency Ratio
Adjusted debt to capital4 0.42 0.46 0.49 0.63 0.73 0.75

Based on: 10-K (reporting date: 2024-09-29), 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).

1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 14,634 ÷ 40,908 = 0.36

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2024 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 15,440 ÷ 37,051 = 0.42

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Qualcomm Inc. adjusted debt-to-capital ratio improved from 2022 to 2023 and from 2023 to 2024.

Adjusted Financial Leverage

Microsoft Excel
Sep 29, 2024 Sep 24, 2023 Sep 25, 2022 Sep 26, 2021 Sep 27, 2020 Sep 29, 2019
Reported
Selected Financial Data (US$ in millions)
Total assets 55,154 51,040 49,014 41,240 35,594 32,957
Stockholders’ equity 26,274 21,581 18,013 9,950 6,077 4,909
Solvency Ratio
Financial leverage1 2.10 2.37 2.72 4.14 5.86 6.71
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 49,992 47,730 47,211 39,649 34,243 32,115
Adjusted stockholders’ equity3 21,611 18,774 16,890 9,399 6,111 5,541
Solvency Ratio
Adjusted financial leverage4 2.31 2.54 2.80 4.22 5.60 5.80

Based on: 10-K (reporting date: 2024-09-29), 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).

1 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 55,154 ÷ 26,274 = 2.10

2 Adjusted total assets. See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 49,992 ÷ 21,611 = 2.31

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 2022 to 2023 and from 2023 to 2024.

Adjusted Net Profit Margin

Microsoft Excel
Sep 29, 2024 Sep 24, 2023 Sep 25, 2022 Sep 26, 2021 Sep 27, 2020 Sep 29, 2019
Reported
Selected Financial Data (US$ in millions)
Net income 10,142 7,232 12,936 9,043 5,198 4,386
Revenues 38,962 35,820 44,200 33,566 23,531 24,273
Profitability Ratio
Net profit margin1 26.03% 20.19% 29.27% 26.94% 22.09% 18.07%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 8,444 5,972 12,364 8,374 4,693 5,814
Adjusted revenues3 38,955 35,699 43,737 33,213 23,135 23,878
Profitability Ratio
Adjusted net profit margin4 21.68% 16.73% 28.27% 25.21% 20.29% 24.35%

Based on: 10-K (reporting date: 2024-09-29), 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).

1 2024 Calculation
Net profit margin = 100 × Net income ÷ Revenues
= 100 × 10,142 ÷ 38,962 = 26.03%

2 Adjusted net income. See details »

3 Adjusted revenues. See details »

4 2024 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Adjusted revenues
= 100 × 8,444 ÷ 38,955 = 21.68%

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 deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Adjusted Return on Equity (ROE)

Microsoft Excel
Sep 29, 2024 Sep 24, 2023 Sep 25, 2022 Sep 26, 2021 Sep 27, 2020 Sep 29, 2019
Reported
Selected Financial Data (US$ in millions)
Net income 10,142 7,232 12,936 9,043 5,198 4,386
Stockholders’ equity 26,274 21,581 18,013 9,950 6,077 4,909
Profitability Ratio
ROE1 38.60% 33.51% 71.81% 90.88% 85.54% 89.35%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 8,444 5,972 12,364 8,374 4,693 5,814
Adjusted stockholders’ equity3 21,611 18,774 16,890 9,399 6,111 5,541
Profitability Ratio
Adjusted ROE4 39.07% 31.81% 73.20% 89.09% 76.80% 104.93%

Based on: 10-K (reporting date: 2024-09-29), 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).

1 2024 Calculation
ROE = 100 × Net income ÷ Stockholders’ equity
= 100 × 10,142 ÷ 26,274 = 38.60%

2 Adjusted net income. See details »

3 Adjusted stockholders’ equity. See details »

4 2024 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted stockholders’ equity
= 100 × 8,444 ÷ 21,611 = 39.07%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Qualcomm Inc. adjusted ROE deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.

Adjusted Return on Assets (ROA)

Microsoft Excel
Sep 29, 2024 Sep 24, 2023 Sep 25, 2022 Sep 26, 2021 Sep 27, 2020 Sep 29, 2019
Reported
Selected Financial Data (US$ in millions)
Net income 10,142 7,232 12,936 9,043 5,198 4,386
Total assets 55,154 51,040 49,014 41,240 35,594 32,957
Profitability Ratio
ROA1 18.39% 14.17% 26.39% 21.93% 14.60% 13.31%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 8,444 5,972 12,364 8,374 4,693 5,814
Adjusted total assets3 49,992 47,730 47,211 39,649 34,243 32,115
Profitability Ratio
Adjusted ROA4 16.89% 12.51% 26.19% 21.12% 13.70% 18.10%

Based on: 10-K (reporting date: 2024-09-29), 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).

1 2024 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × 10,142 ÷ 55,154 = 18.39%

2 Adjusted net income. See details »

3 Adjusted total assets. See details »

4 2024 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 8,444 ÷ 49,992 = 16.89%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Qualcomm Inc. adjusted ROA deteriorated from 2022 to 2023 but then slightly improved from 2023 to 2024.