Selected Financial Data
since 2005
Income Statement
Qualcomm Inc., selected items from income statement, long-term trends
US$ in millions
| 12 months ended: | Revenues | Operating income | Net income (loss) |
|---|---|---|---|
| Sep 28, 2025 | 44,284) | 12,355) | 5,541) |
| Sep 29, 2024 | 38,962) | 10,071) | 10,142) |
| Sep 24, 2023 | 35,820) | 7,788) | 7,232) |
| Sep 25, 2022 | 44,200) | 15,860) | 12,936) |
| Sep 26, 2021 | 33,566) | 9,789) | 9,043) |
| Sep 27, 2020 | 23,531) | 6,255) | 5,198) |
| Sep 29, 2019 | 24,273) | 7,667) | 4,386) |
| Sep 30, 2018 | 22,732) | 742) | (4,864) |
| Sep 24, 2017 | 22,291) | 2,614) | 2,466) |
| Sep 25, 2016 | 23,554) | 6,495) | 5,705) |
| Sep 27, 2015 | 25,281) | 5,776) | 5,271) |
| Sep 28, 2014 | 26,487) | 7,550) | 7,967) |
| Sep 29, 2013 | 24,866) | 7,230) | 6,853) |
| Sep 30, 2012 | 19,121) | 5,682) | 6,109) |
| Sep 25, 2011 | 14,957) | 5,026) | 4,260) |
| Sep 26, 2010 | 10,991) | 3,283) | 3,247) |
| Sep 27, 2009 | 10,416) | 2,226) | 1,592) |
| Sep 28, 2008 | 11,142) | 3,730) | 3,160) |
| Sep 30, 2007 | 8,871) | 2,883) | 3,303) |
| Sep 24, 2006 | 7,526) | 2,690) | 2,470) |
| Sep 25, 2005 | 5,673) | 2,386) | 2,143) |
Based on: 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), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-24), 10-K (reporting date: 2016-09-25), 10-K (reporting date: 2015-09-27), 10-K (reporting date: 2014-09-28), 10-K (reporting date: 2013-09-29), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-25), 10-K (reporting date: 2010-09-26), 10-K (reporting date: 2009-09-27), 10-K (reporting date: 2008-09-28), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-24), 10-K (reporting date: 2005-09-25).
The analysis of the financial data over the indicated periods reveals notable trends in revenues, operating income, and net income, illustrating fluctuations and growth phases within the company’s financial performance.
- Revenues
- Revenues exhibit a general upward trajectory over the years, beginning at approximately 5.7 billion US dollars and climbing to over 44 billion US dollars by the final period. There are intermittent declines visible, such as the drop from around 11.1 billion to 10.4 billion during one early period, and another notable decrease after peaking near 44.2 billion. However, overall, the revenue growth is significant, with several periods of substantial increases that indicate expansion or enhanced sales performance.
- Operating Income
- Operating income shows more volatility compared to revenues. Initial growth is evident, rising from 2.4 billion US dollars to a peak near 7.6 billion. Following this peak, a sharp decline is observed, reaching a low point below 1 billion in one period, which marks a significant contraction in operational profitability. Subsequently, there is a recovery phase, where operating income climbs again, achieving a new high around 15.9 billion. The fluctuations suggest periods of operational challenges interspersed with successful efficiency improvements or increased revenue conversion into profits.
- Net Income
- Net income trends parallel those of operating income but with even greater variability. Starting at slightly above 2.1 billion US dollars, net income reaches a peak of roughly 8 billion, before an abrupt negative swing to a loss slightly below -4.9 billion occurs. This loss indicates a substantial financial setback during that timeframe. Post this downturn, net income recovers substantially, reaching new highs over 12.9 billion US dollars. However, in the latest periods, net income again declines markedly, suggesting renewed pressures or investments affecting profitability.
In summary, while revenues demonstrate steady long-term growth punctuated by some declines, operating income and net income present pronounced volatility. The data reflect periods of both strong profitability and significant financial stress, with recovery phases that eventually lead to new highs. These patterns indicate dynamic operational and market conditions affecting the company, with profitability being more sensitive to short-term factors than revenue generation.
Balance Sheet: Assets
Qualcomm Inc., selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| Sep 28, 2025 | 25,754) | 50,143) |
| Sep 29, 2024 | 25,231) | 55,154) |
| Sep 24, 2023 | 22,464) | 51,040) |
| Sep 25, 2022 | 20,724) | 49,014) |
| Sep 26, 2021 | 20,075) | 41,240) |
| Sep 27, 2020 | 18,519) | 35,594) |
| Sep 29, 2019 | 16,765) | 32,957) |
| Sep 30, 2018 | 17,384) | 32,686) |
| Sep 24, 2017 | 43,593) | 65,486) |
| Sep 25, 2016 | 22,981) | 52,359) |
| Sep 27, 2015 | 22,099) | 50,796) |
| Sep 28, 2014 | 22,413) | 48,574) |
| Sep 29, 2013 | 19,555) | 45,516) |
| Sep 30, 2012 | 15,645) | 43,012) |
| Sep 25, 2011 | 14,293) | 36,422) |
| Sep 26, 2010 | 12,133) | 30,572) |
| Sep 27, 2009 | 12,570) | 27,445) |
| Sep 28, 2008 | 11,723) | 24,563) |
| Sep 30, 2007 | 8,821) | 18,495) |
| Sep 24, 2006 | 7,049) | 15,208) |
| Sep 25, 2005 | 7,791) | 12,479) |
Based on: 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), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-24), 10-K (reporting date: 2016-09-25), 10-K (reporting date: 2015-09-27), 10-K (reporting date: 2014-09-28), 10-K (reporting date: 2013-09-29), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-25), 10-K (reporting date: 2010-09-26), 10-K (reporting date: 2009-09-27), 10-K (reporting date: 2008-09-28), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-24), 10-K (reporting date: 2005-09-25).
The financial data over the presented periods reveals several notable trends in the asset composition and scale.
- Current Assets
- The current assets consistently increased from 2005 to 2017, starting at $7.8 billion and peaking significantly at approximately $43.6 billion in 2017. This spike represents a substantial increase compared to prior years. Following 2017, current assets sharply dropped to around $17.4 billion in 2018, then stabilized and showed a moderate upward trajectory through 2025, ending at about $25.8 billion. The overall pattern is one of gradual growth interrupted by a pronounced anomaly in 2017, followed by recovery and steady increments.
- Total Assets
- Total assets exhibited a steady upward trend from 2005 ($12.5 billion) through 2017 ($65.5 billion), marking a notable surge coinciding with the peak in current assets during 2017. After this peak, total assets declined sharply in 2018 to approximately $32.7 billion, mirroring the behavior observed with current assets. From 2018 onwards, total assets resumed an increasing trend, reaching around $55.1 billion by 2024, although with a slight decrease projected for 2025 to just over $50.1 billion. The data suggests a pattern of expansion until 2017, a major adjustment or asset reclassification in 2018, and gradual recovery thereafter.
In summary, both current and total assets showed consistent growth from 2005 through 2016, with a dramatic surge in 2017 followed by a sharp decline in 2018. This likely indicates a significant one-time event impacting asset figures, such as restructuring, divestiture, acquisition, or accounting changes. Subsequent periods demonstrate stabilization and a steady increase in asset base, reflecting positive growth trends post-adjustment. The relative movements in current assets closely follow those in total assets, indicating that changes in current assets substantially influenced the company's overall asset profile during these years.
Balance Sheet: Liabilities and Stockholders’ Equity
Qualcomm Inc., selected items from liabilities and stockholders’ equity, long-term trends
US$ in millions
| Current liabilities | Total liabilities | Total debt | Stockholders’ equity | |
|---|---|---|---|---|
| Sep 28, 2025 | 9,144) | 28,937) | 14,811) | 21,206) |
| Sep 29, 2024 | 10,504) | 28,880) | 14,634) | 26,274) |
| Sep 24, 2023 | 9,628) | 29,459) | 15,398) | 21,581) |
| Sep 25, 2022 | 11,866) | 31,001) | 15,482) | 18,013) |
| Sep 26, 2021 | 11,951) | 31,290) | 15,745) | 9,950) |
| Sep 27, 2020 | 8,672) | 29,517) | 15,726) | 6,077) |
| Sep 29, 2019 | 8,935) | 28,048) | 15,933) | 4,909) |
| Sep 30, 2018 | 11,236) | 31,758) | 16,370) | 928) |
| Sep 24, 2017 | 10,907) | 34,740) | 21,893) | 30,746) |
| Sep 25, 2016 | 7,311) | 20,591) | 11,757) | 31,778) |
| Sep 27, 2015 | 6,100) | 19,382) | 10,969) | 31,421) |
| Sep 28, 2014 | 6,013) | 9,408) | —) | 39,169) |
| Sep 29, 2013 | 5,213) | 9,429) | —) | 36,088) |
| Sep 30, 2012 | 5,302) | 9,467) | —) | 33,523) |
| Sep 25, 2011 | 5,289) | 9,450) | 994) | 26,951) |
| Sep 26, 2010 | 5,468) | 9,714) | 1,086) | 20,858) |
| Sep 27, 2009 | 2,813) | 7,129) | —) | 20,316) |
| Sep 28, 2008 | 2,291) | 6,619) | —) | 17,944) |
| Sep 30, 2007 | 2,258) | 2,660) | —) | 15,835) |
| Sep 24, 2006 | 1,422) | 1,802) | —) | 13,406) |
| Sep 25, 2005 | 1,070) | 1,360) | —) | 11,119) |
Based on: 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), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-24), 10-K (reporting date: 2016-09-25), 10-K (reporting date: 2015-09-27), 10-K (reporting date: 2014-09-28), 10-K (reporting date: 2013-09-29), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-25), 10-K (reporting date: 2010-09-26), 10-K (reporting date: 2009-09-27), 10-K (reporting date: 2008-09-28), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-24), 10-K (reporting date: 2005-09-25).
The financial data reveals several notable trends regarding the company's liabilities, debt, and equity over the observed periods.
- Current Liabilities
- Current liabilities generally exhibited an increasing trend from 2005 through 2017, rising from 1,070 million US dollars in 2005 to a peak of 11,236 million in 2018. Following this peak, there is a fluctuating pattern with a decrease to 8,935 million in 2019 and 8,672 million in 2020, then a sharp increase again to 11,951 million in 2021. The subsequent years portray a slight decline, ending at 9,144 million in 2025.
- Total Liabilities
- Total liabilities also show an upward trend initially, moving from 1,360 million in 2005 to a considerable peak of 34,740 million in 2017. After this, total liabilities gradually decrease, reaching 28,937 million by 2025. This pattern indicates significant liability accumulation until the 2017 peak, followed by a gradual reduction over the following years.
- Total Debt
- Total debt figures start to appear from 2010 onwards, initially at 1,086 million and remaining relatively stable until 2012 at 994 million. A sharp increase is observed in 2015 with 10,969 million, and it reaches a peak of 21,893 million in 2017. From 2018 onwards, there is a consistent decline in total debt, stabilizing somewhat around 14,600 to 15,000 million towards 2025. This suggests aggressive debt accumulation followed by a concerted effort to reduce debt levels post-2017.
- Stockholders’ Equity
- Equity increased steadily from 11,119 million in 2005 through 2014, peaking at a notably high 39,169 million. However, a sharp drop occurs in 2018 down to 928 million, representing a significant equity reduction. Subsequently, equity shows a recovery trend from 2019 onwards, rising to 26,274 million by 2024, before declining again to 21,206 million in 2025. The fluctuations indicate periods of substantial equity loss followed by recovery phases.
Overall, the data depicts a pattern of increasing liabilities and debt up to around 2017, followed by efforts that appear aimed at deleveraging. Concurrently, stockholders’ equity experienced considerable volatility, with a marked downturn around 2018, then a partial restoration over subsequent years. These dynamics suggest a period of financial restructuring during the latter half of the timeline under review.
Cash Flow Statement
Qualcomm Inc., selected items from cash flow statement, long-term trends
US$ in millions
| 12 months ended: | Net cash provided by operating activities | Net cash (used) provided by investing activities | Net cash provided (used) by financing activities |
|---|---|---|---|
| Sep 28, 2025 | 14,012) | (800) | (13,196) |
| Sep 29, 2024 | 12,293) | (3,625) | (9,288) |
| Sep 24, 2023 | 11,698) | (621) | (6,605) |
| Sep 25, 2022 | 9,266) | (5,804) | (7,196) |
| Sep 26, 2021 | 10,536) | (3,356) | (6,798) |
| Sep 27, 2020 | 5,814) | (5,263) | (5,707) |
| Sep 29, 2019 | 7,286) | (806) | (6,386) |
| Sep 30, 2018 | 3,895) | 4,381) | (31,487) |
| Sep 24, 2017 | 4,693) | 18,463) | 5,879) |
| Sep 25, 2016 | 7,400) | (3,488) | (5,522) |
| Sep 27, 2015 | 5,506) | (3,572) | (2,261) |
| Sep 28, 2014 | 8,887) | (1,639) | (5,480) |
| Sep 29, 2013 | 8,778) | (1,578) | (4,845) |
| Sep 30, 2012 | 5,998) | (6,877) | (757) |
| Sep 25, 2011 | 4,900) | (4,489) | 1,518) |
| Sep 26, 2010 | 4,076) | (839) | (2,405) |
| Sep 27, 2009 | 7,172) | (5,457) | (833) |
| Sep 28, 2008 | 3,558) | (2,819) | (1,307) |
| Sep 30, 2007 | 3,811) | (1,898) | (1,111) |
| Sep 24, 2006 | 3,253) | (2,623) | (1,092) |
| Sep 25, 2005 | 2,686) | (776) | (1,054) |
Based on: 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), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-24), 10-K (reporting date: 2016-09-25), 10-K (reporting date: 2015-09-27), 10-K (reporting date: 2014-09-28), 10-K (reporting date: 2013-09-29), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-25), 10-K (reporting date: 2010-09-26), 10-K (reporting date: 2009-09-27), 10-K (reporting date: 2008-09-28), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-24), 10-K (reporting date: 2005-09-25).
The analysis of the cash flow activities over the reported periods reveals distinct trends across operational, investing, and financing activities, indicating shifts in company strategy and financial management.
- Net Cash Provided by Operating Activities
- Over the years, operating cash flows show an overall upward trend despite fluctuations. Starting from US$2,686 million in the earliest period, there is significant growth peaking at US$11,698 million in the year ending September 29, 2023, with continued increase projected into the following years reaching US$14,012 million by September 28, 2025. This pattern suggests improving operational efficiency and growing profitability, with notable dips around 2005-2008 and again in the mid-2010s, after which a resurgence is evident.
- Net Cash Used in Investing Activities
- Investing cash flows exhibit substantial variability, fluctuating between heavy outflows and occasional inflows. Initially, there are significant cash outflows peaking at US$-5,457 million by 2009, followed by periods of large investments, such as US$-6,877 million in 2012. Interestingly, the period ending September 24, 2017, shows an anomalous positive inflow of US$18,463 million, likely reflecting asset sales or divestitures. Post-2017, investing activities again trend negative with moderate outflows ranging mostly between US$-621 million to US$-5,804 million, indicating sustained investment activities but at varying intensities.
- Net Cash Provided (Used) by Financing Activities
- Financing activities show predominantly negative cash flows, implying repayments, dividend payments, or share repurchases. The first part of the timeline reflects consistent negative cash flows, with brief positive spikes notably in 2011 and 2016, suggesting periods of capital raising or debt issuance. From 2017 onward, financing outflows become more pronounced, peaking at US$-13,196 million in 2025, indicative of aggressive debt repayment or shareholder distributions. This trend correlates with enhanced operating cash flows, possibly supporting these financial strategies.
In summary, the company demonstrates strengthening operational cash generation capacity over the years, balanced with significant investment activities that vary by period. The pattern of financing activities suggests a strategic approach to managing capital structure, marked by intermittent capital raising followed by increasingly substantial paydowns or returns to shareholders. The interplay among these cash flow components reflects a dynamic financial management stance responsive to business conditions and growth opportunities.
Per Share Data
Qualcomm Inc., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Sep 28, 2025 | 5.05 | 5.01 | 3.48 |
| Sep 29, 2024 | 9.09 | 8.97 | 3.30 |
| Sep 24, 2023 | 6.47 | 6.42 | 3.10 |
| Sep 25, 2022 | 11.52 | 11.37 | 2.86 |
| Sep 26, 2021 | 7.99 | 7.87 | 2.66 |
| Sep 27, 2020 | 4.58 | 4.52 | 2.54 |
| Sep 29, 2019 | 3.63 | 3.59 | 2.48 |
| Sep 30, 2018 | -3.32 | -3.32 | 2.38 |
| Sep 24, 2017 | 1.67 | 1.65 | 2.20 |
| Sep 25, 2016 | 3.84 | 3.81 | 2.02 |
| Sep 27, 2015 | 3.26 | 3.22 | 1.80 |
| Sep 28, 2014 | 4.73 | 4.65 | 1.54 |
| Sep 29, 2013 | 3.99 | 3.91 | 1.20 |
| Sep 30, 2012 | 3.59 | 3.51 | 0.93 |
| Sep 25, 2011 | 2.57 | 2.52 | 0.81 |
| Sep 26, 2010 | 1.98 | 1.96 | 0.72 |
| Sep 27, 2009 | 0.96 | 0.95 | 0.66 |
| Sep 28, 2008 | 1.94 | 1.90 | 0.60 |
| Sep 30, 2007 | 1.99 | 1.95 | 0.52 |
| Sep 24, 2006 | 1.49 | 1.44 | 0.42 |
| Sep 25, 2005 | 1.31 | 1.26 | 0.32 |
Based on: 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), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-24), 10-K (reporting date: 2016-09-25), 10-K (reporting date: 2015-09-27), 10-K (reporting date: 2014-09-28), 10-K (reporting date: 2013-09-29), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-25), 10-K (reporting date: 2010-09-26), 10-K (reporting date: 2009-09-27), 10-K (reporting date: 2008-09-28), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-24), 10-K (reporting date: 2005-09-25).
1, 2, 3 Data adjusted for splits and stock dividends.
The analysis of the company’s key earnings and dividend metrics over the specified periods reveals several significant patterns and fluctuations.
- Basic Earnings Per Share (EPS)
- The basic EPS exhibited a general upward trend from 2005 through 2014, increasing from $1.31 to a peak of $4.73. However, in 2015, there was a notable decline to $3.26, followed by recovery to $3.84 in 2016. A sharp drop occurred in 2018, with a negative EPS of -$3.32, indicating a loss in that year. Post-2018, the EPS rebounded strongly, achieving a significant high of $11.52 in 2022. Afterward, the EPS decreased but remained positive, registering $6.47 in 2023, $9.09 in 2024, and $5.05 in 2025, showing some volatility in recent years.
- Diluted Earnings Per Share
- The diluted EPS mirrored the basic EPS trend closely, starting at $1.26 in 2005 and rising steadily to $4.65 by 2014. It also experienced a decline in 2015 to $3.22 and a similar recovery and subsequent sharp loss in 2018 with a negative $3.32 EPS. From 2019 onwards, diluted EPS improved substantially, peaking at $11.37 in 2022 before falling to $6.42 in 2023, rising again to $8.97 in 2024, and declining to $5.01 in 2025. The parallel movement between basic and diluted EPS suggests no significant dilution effects during these periods.
- Dividend Per Share
- Dividends per share exhibited steady growth throughout the entire timeline, increasing annually without interruption. Starting from $0.32 in 2005, dividends gradually rose each year to $3.48 in 2025. This consistent upward trend indicates a strong commitment to returning value to shareholders, despite fluctuations in earnings during some years.
In summary, the company showed a long-term positive growth trend in earnings per share until 2014, experienced a significant loss in 2018, and recovered impressively thereafter with notable volatility in the latest years. The dividends per share demonstrated a resilient, uninterrupted increase, reflecting a sustained focus on shareholder distributions regardless of earnings fluctuations.