Name: Qualcomm Inc. (NASDAQ:QCOM) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

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.

Assets: Selected Items

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Current Assets: Selected Items

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Qualcomm Inc., consolidated balance sheet: assets

US$ in millions

	Sep 27, 2026	Sep 28, 2025	Sep 29, 2024	Sep 24, 2023	Sep 25, 2022	Sep 26, 2021
Cash and cash equivalents	4,636)	5,520)	7,849)	8,450)	2,773)	7,116)
Restricted cash	—)	2,323)	—)	—)	—)	—)
Marketable securities	3,045)	4,635)	5,451)	2,874)	3,609)	5,298)
Accounts receivable, trade, net of allowances for doubtful accounts	2,671)	2,855)	2,347)	1,923)	4,175)	2,214)
Unbilled receivables	1,504)	1,443)	1,546)	1,223)	1,435)	1,354)
Other	24)	17)	36)	37)	33)	11)
Accounts receivable, net	4,199)	4,315)	3,929)	3,183)	5,643)	3,579)
Inventories	8,640)	6,526)	6,423)	6,422)	6,341)	3,228)
Held for sale assets	—)	—)	—)	341)	733)	—)
Other current assets	1,752)	2,435)	1,579)	1,194)	1,625)	854)
Current assets	22,272)	25,754)	25,231)	22,464)	20,724)	20,075)
Deferred tax assets	5,783)	743)	5,162)	3,310)	1,803)	1,591)
Property, plant and equipment, net	6,104)	4,690)	4,665)	5,042)	5,168)	4,559)
Goodwill	16,374)	11,358)	10,799)	10,642)	10,508)	7,246)
Other intangible assets, net	1,925)	1,148)	1,244)	1,408)	1,882)	1,458)
Held for sale assets	—)	—)	—)	88)	1,200)	—)
Other assets	8,371)	6,450)	8,053)	8,086)	7,729)	6,311)
Noncurrent assets	38,557)	24,389)	29,923)	28,576)	28,290)	21,165)
Total assets	60,829)	50,143)	55,154)	51,040)	49,014)	41,240)

Based on: 10-K (reporting date: 2026-09-27), 10-K (reporting date: 2025-09-28), 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).

Total assets exhibit a general upward trajectory over the analyzed period, growing from 41,240 million US$ in September 2021 to 60,829 million US$ by September 2026. This growth is characterized by a consistent increase until September 2024, followed by a moderate contraction in September 2025, and a significant surge in the final year. The expansion of the balance sheet is primarily driven by a substantial increase in noncurrent assets, while current assets show more volatility.

Liquidity and Cash Management: Cash and cash equivalents demonstrate significant volatility, peaking at 8,450 million US$ in 2023 before entering a steady decline to 4,636 million US$ by 2026. Marketable securities follow a similar pattern of fluctuation, reaching a high of 5,451 million US$ in 2024 and ending the period at 3,045 million US$ in 2026. The combined liquid asset position suggests a dynamic approach to capital allocation and treasury management.
Working Capital and Inventory Trends: Inventories have shown a consistent and substantial increase, rising from 3,228 million US$ in 2021 to 8,640 million US$ in 2026. This represents more than a twofold increase, indicating a trend toward higher stock levels. Accounts receivable, net, experienced a peak in 2022 at 5,643 million US$ and have since stabilized between 3,183 million US$ and 4,315 million US$ through 2026, suggesting fluctuations in credit terms or customer payment cycles.
Noncurrent Asset Expansion and Intangibles: Noncurrent assets grew from 21,165 million US$ in 2021 to 38,557 million US$ in 2026. A primary driver of this growth is Goodwill, which increased from 7,246 million US$ to 16,374 million US$ over the six-year period, signaling significant acquisition activity. Property, plant, and equipment remained relatively stable until 2026, where a notable increase to 6,104 million US$ was observed, suggesting a recent expansion in physical infrastructure or capacity.
Deferred Tax and Other Assets: Deferred tax assets exhibit extreme volatility, fluctuating from 1,591 million US$ in 2021 to a peak of 5,162 million US$ in 2024, dropping sharply to 743 million US$ in 2025, and rebounding to 5,783 million US$ in 2026. This suggests periodic adjustments in tax positioning or valuation allowances. Other current assets also trended upward, peaking in 2025 at 2,435 million US$ before moderating in 2026.

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