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.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Income Statement
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Qualcomm Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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 analysis of the quarterly financial data reveals several notable trends and shifts across various asset categories over the observed periods.
- Cash and Cash Equivalents
- This category exhibits considerable volatility, with a general downward trend from approximately $11.1 billion at the end of 2019 to a low point around $2.7 billion by mid-2022. Subsequently, there is a recovery trend peaking near $9.2 billion in early 2024, followed by fluctuations around the $5.4 to $8.7 billion range towards the latest periods. The presence of restricted cash emerges only in the most recent two periods, adding $2.3 billion, indicating a recent change in cash categorization or asset restrictions.
- Marketable Securities
- Marketable securities holdings increased sharply from $314 million in late 2019 to above $5.5 billion by late 2021, followed by some fluctuations. These values peaked again in early 2025 around $6.6 billion before declining to approximately $4.6 billion in the latest reported quarter, indicating active portfolio management or shifts in investment strategy.
- Accounts Receivable, Net
- Accounts receivable shows considerable variability with an initial dip in mid-2020 but generally maintains a range between $2.9 billion and $5.6 billion. Notably, there is a peak near $5.6 billion in late 2022, followed by a modest decline and again increasing toward mid-2025. This suggests fluctuations in sales or billing cycles impacting receivables.
- Inventories
- Inventories have exhibited a steady and substantial increase from $1.4 billion at the end of 2019 to $6.5 billion by mid-2024, almost a fivefold growth over the period. This upward trajectory may reflect increased stockpiling, production scaling, or changes in supply chain dynamics.
- Other Current Assets and Current Assets
- Other current assets rose from $625 million to a peak over $2.8 billion by mid-2025, displaying significant growth. Current assets overall trended upwards from roughly $16.2 billion toward $25.8 billion near the end of the period, notwithstanding some dips. These trends indicate expansion in liquid and near-liquid assets, contributing to enhanced short-term financial stability.
- Deferred Tax Assets
- Deferred tax assets have expanded markedly, more than quadrupling from about $1.25 billion to over $6.1 billion in the later periods, showing a consistent increase across quarters. This likely reflects changes in tax positions, carryforwards, or asset valuation adjustments over time.
- Property, Plant, and Equipment, Net
- Property, plant, and equipment (PP&E) increased steadily from $3.17 billion to approximately $5.2 billion before declining moderately to around $4.7 billion near the end of the coverage. The net upward trend indicates ongoing capital investment, with some possible disposals or asset depreciation impacts toward the final quarters.
- Goodwill and Other Intangible Assets
- Goodwill remained relatively stable around $6.3 billion initially, then jumped significantly to over $10.7 billion by late 2021, continuing a gradual increase to nearly $11.4 billion by mid-2025. Other intangible assets have trended downward overall, decreasing from $2.0 billion to about $1.1 billion, highlighting amortization or impairment effects contrasting with goodwill's growth, possibly due to acquisitions.
- Other Assets and Noncurrent Assets
- Other assets and total noncurrent assets have increased modestly. Other assets moved from $4.1 billion up to about $8.0 billion before a slight retreat to $6.5 billion near the end, while noncurrent assets grew from $16.9 billion to near $30 billion before falling to roughly $24.4 billion. These shifts suggest asset reclassification or disposals alongside capital expenditures.
- Total Assets
- Total assets showed a progressive increase from $33.1 billion to a peak of approximately $55.6 billion by early 2025, before retreating back towards $50.1 billion. This overall growth path underscores expansion in the company’s asset base with a recent adjustment potentially due to asset sales, write-downs, or balance sheet optimization.
In summary, the asset composition portrays dynamic financial management characterized by strategic increases in inventories, receivables, and investments in physical and intangible assets. The fluctuations in cash equivalents and marketable securities indicate responsive liquidity management. The pronounced growth in deferred tax assets and goodwill emphasizes evolving tax positions and acquisition activity. Recent decreases in total assets suggest some consolidation or asset optimization efforts.