Stock Analysis on Net
Stock Analysis on Net

Qualcomm Inc. (NASDAQ:QCOM)

Common-Size Balance Sheet: Assets

Qualcomm Inc., common-size consolidated balance sheet: assets

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Sep 29, 2024 Sep 24, 2023 Sep 25, 2022 Sep 26, 2021 Sep 27, 2020 Sep 29, 2019
Cash and cash equivalents 14.23 16.56 5.66 17.26 18.84 35.92
Marketable securities 9.88 5.63 7.36 12.85 12.66 1.28
Accounts receivable, trade, net of allowances for doubtful accounts 4.26 3.77 8.52 5.37 7.55 3.17
Unbilled receivables 2.80 2.40 2.93 3.28 3.67 4.28
Other 0.07 0.07 0.07 0.03 0.03 0.04
Accounts receivable, net 7.12% 6.24% 11.51% 8.68% 11.25% 7.50%
Inventories 11.65 12.58 12.94 7.83 7.30 4.25
Held for sale assets 0.00 0.67 1.50 0.00 0.00 0.00
Other current assets 2.86 2.34 3.32 2.07 1.98 1.92
Current assets 45.75% 44.01% 42.28% 48.68% 52.03% 50.87%
Deferred tax assets 9.36 6.49 3.68 3.86 3.80 3.63
Property, plant and equipment, net 8.46 9.88 10.54 11.05 10.43 9.35
Goodwill 19.58 20.85 21.44 17.57 17.76 19.06
Other intangible assets, net 2.26 2.76 3.84 3.54 4.64 6.59
Held for sale assets 0.00 0.17 2.45 0.00 0.00 0.00
Other assets 14.60 15.84 15.77 15.30 11.34 10.50
Noncurrent assets 54.25% 55.99% 57.72% 51.32% 47.97% 49.13%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Cash and cash equivalents
As a percentage of total assets, the proportion of cash and cash equivalents declined sharply from 35.92% in 2019 to 5.66% in 2022. It then rebounded somewhat to 16.56% in 2023 before decreasing slightly to 14.23% in 2024. This suggests a significant reduction in liquid cash holdings during the middle period, followed by partial recovery.
Marketable securities
The share of marketable securities rose notably from a low of 1.28% in 2019 to a peak around 12.85% in 2021, dropped in 2022 and 2023, and then increased again to 9.88% in 2024. This indicates fluctuating investment in readily marketable financial instruments over the years.
Accounts receivable, net
The net accounts receivable percentage increased from 7.5% in 2019 to a high of 11.51% in 2022, before declining to 6.24% in 2023 and rising moderately to 7.12% in 2024. This pattern shows variability in credit extended to customers or collection efficiency.
Unbilled receivables
There was a steady decline in unbilled receivables as a percentage of total assets from 4.28% in 2019 to 2.4% in 2023, followed by a slight uptick to 2.8% in 2024. This suggests an improving conversion of accrued revenue into billed receivables, with a minor reversal in the latest period.
Inventories
The proportion of inventory showed a rising trend from 4.25% in 2019 to a peak of 12.94% in 2022, then slightly decreased to 11.65% in 2024. This could reflect increasing stock levels possibly related to product development or supply chain adjustments.
Held for sale assets
Data is missing prior to 2022, but in 2022 held for sale assets accounted for 1.5% of total assets, decreased to 0.67% in 2023, and was negligible in 2024. This indicates the company was divesting certain assets during this period.
Other current assets
Other current assets exhibited a modest increase over time, from 1.92% in 2019 to a peak of 3.32% in 2022, falling to 2.86% in 2024. This reflects relatively stable levels of miscellaneous current asset components.
Current assets
The overall current assets proportion remained relatively stable but showed a mild contraction from 52.03% in 2020 to a low of 42.28% in 2022. Subsequently, current assets increased to 45.75% in 2024, indicating a partial rebalancing towards short-term asset liquidity post-2022.
Deferred tax assets
There is a clear upward trend in deferred tax assets, increasing from 3.63% in 2019 to a significant 9.36% in 2024. This may point to growing temporary differences or accumulated tax credits expecting future utilization.
Property, plant and equipment, net
The share of net property, plant, and equipment showed a gradual decline from 10.43% in 2020 to 8.46% in 2024, indicating relative depreciation, asset disposals, or restrained capital expenditure.
Goodwill
Goodwill fluctuated mildly, decreasing from 19.06% in 2019 to 17.57% in 2021, then rising to a peak of 21.44% in 2022 before trending down again to 19.58% in 2024. This pattern suggests acquisition activity and possible impairment effects over time.
Other intangible assets, net
Other intangible assets steadily declined from 6.59% in 2019 to 2.26% in 2024, indicating amortization or disposals exceeding new additions.
Other assets
The category of other assets demonstrated a consistent increase from 10.5% in 2019 to a peak of 15.84% in 2023, with a slight decrease to 14.6% in 2024. This suggests accumulation or reclassification of miscellaneous noncurrent assets.
Noncurrent assets
Noncurrent assets as a total percentage of assets generally increased from 47.97% in 2020 to a high of 57.72% in 2022, followed by a moderate decline to 54.25% in 2024. This trend indicates an increasing emphasis on long-term asset holdings through 2022, with slight scaling back afterward.
Total assets
The total assets are consistent at 100% each year, providing a constant basis for percentage analysis.