Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Qualcomm Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Cash Flow Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Qualcomm Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2026-03-29), 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).
A significant transformation in the capital structure is evident over the analyzed period, characterized by a systematic shift from debt-reliance toward equity-based financing. Total liabilities, which initially represented 86.37% of the total balance sheet in December 2019, experienced a consistent downward trajectory, reaching a low of 49.92% by March 2024 before stabilizing around 52.26% by March 2026. Conversely, stockholders' equity grew from 13.63% to 47.74% over the same timeframe, indicating a substantial strengthening of the solvency position.
- Debt Deleveraging Trends
- A marked reduction in long-term debt is observed, falling from a peak of 47.71% in June 2020 to 25.85% by March 2026. This trend suggests a strategic effort to reduce long-term leverage. Short-term debt exhibited higher volatility, fluctuating between 0.87% and 7.87%, but generally maintained a lower relative weight in the latter half of the period compared to the initial quarters.
- Equity Growth and Internal Funding
- The expansion of stockholders' equity was driven primarily by retained earnings, which increased from 13.22% in December 2019 to 47.08% in March 2026. This steady accumulation indicates strong profitability and a preference for reinvesting earnings into the business rather than relying on external debt or issuing new shares, as common stock and paid-in capital remained a negligible percentage of the total balance sheet.
- Current Liabilities and Operational Obligations
- Current liabilities decreased from a range of 27% to 30% in 2019-2021 to approximately 17% by 2026. Trade accounts payable showed variability, peaking at 8.41% in March 2022 before declining to 5.20% by March 2026. Unearned revenues also saw a consistent decline, moving from 3.20% at the start of the period to 0.12% at the conclusion, suggesting a change in the timing of revenue recognition or a shift in contract structures.
- Noncurrent Liabilities and Other Obligations
- Noncurrent liabilities followed the general deleveraging trend, decreasing from a high of 65.29% in June 2020 to 35.16% by March 2026. Other liabilities remained relatively stable, though they trended slightly downward from 14.82% in December 2019 to 9.19% in March 2026, contributing to the overall reduction in the total liability ratio.
The overall financial profile evolved from a highly leveraged position to a more balanced and equity-funded structure. The consistent growth in retained earnings relative to the total balance sheet suggests enhanced financial stability and a reduced risk profile regarding long-term debt obligations.