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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Qualcomm Inc. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Analysis of Revenues
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Qualcomm Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-28), 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).
Total assets exhibit a consistent long-term upward trajectory, growing from 33,111 million US$ in December 2019 to 57,367 million US$ by June 2026. This expansion is characterized by a significant shift in asset composition, where noncurrent assets have grown more aggressively than current assets, eventually becoming the primary driver of the balance sheet's scale.
- Liquidity and Cash Management
- Cash and cash equivalents demonstrate significant volatility over the analyzed period. A notable contraction occurred between March 2021 and June 2022, where balances fell from 6,000 million US$ to a period low of 2,676 million US$. While a recovery followed, peaking at 9,219 million US$ in March 2024, the trend reversed again toward the end of the period, ending at 4,533 million US$ in June 2026. Marketable securities showed a general upward trend from 2019 through 2024, peaking at 6,643 million US$, which suggests a strategic shift toward short-term investments to manage liquidity.
- Working Capital Trends
- Inventories have experienced the most aggressive and consistent growth of any current asset, rising from 1,420 million US$ in December 2019 to 8,379 million US$ by June 2026. This steady increase suggests expanded production capacity or strategic inventory accumulation to support growth. Accounts receivable have remained relatively stable but peaked in September 2022 at 5,643 million US$, reflecting fluctuations in credit terms or sales volume.
- Fixed and Intangible Asset Expansion
- Noncurrent assets grew from 16,906 million US$ to 34,363 million US$. This growth was driven primarily by Goodwill, which saw several step-function increases: from 6,297 million US$ in 2019 to 10,719 million US$ in June 2022, and eventually reaching 14,274 million US$ by June 2026. Such patterns typically indicate a strategy of inorganic growth through major acquisitions. Property, plant and equipment also trended upward, moving from 3,171 million US$ to 5,217 million US$, indicating continued investment in physical infrastructure.
- Other Asset Variations
- Other assets showed a prolonged increase, peaking at 13,215 million US$ in September 2024 before experiencing a sharp decline to 7,193 million US$ by September 2025. Additionally, the emergence of deferred tax assets of approximately 5,679 to 5,968 million US$ in the final two quarters of the dataset marks a distinct change in the tax asset profile toward the end of the period.
Overall, the asset structure has evolved from a balanced distribution between current and noncurrent assets toward a noncurrent-heavy profile. The substantial growth in Goodwill and Inventories, contrasted with the volatile cash position, indicates a period of aggressive expansion and strategic reinvestment.