Stock Analysis on Net

Qualcomm Inc. (NASDAQ:QCOM)

Analysis of Solvency Ratios

Microsoft Excel LibreOffice Calc

Solvency Ratios (Summary)

Qualcomm Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Sep 26, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Sep 24, 2017 Sep 25, 2016
Debt Ratios
Debt to equity 1.58 2.59 3.25 17.64 0.71 0.37
Debt to equity (including operating lease liability) 1.64 2.67 3.25 17.64 0.71 0.37
Debt to capital 0.61 0.72 0.76 0.95 0.42 0.27
Debt to capital (including operating lease liability) 0.62 0.73 0.76 0.95 0.42 0.27
Debt to assets 0.38 0.44 0.48 0.50 0.33 0.22
Debt to assets (including operating lease liability) 0.40 0.46 0.48 0.50 0.33 0.22
Financial leverage 4.14 5.86 6.71 35.22 2.13 1.65
Coverage Ratios
Interest coverage 19.38 10.50 12.93 1.67 7.11 24.01
Fixed charge coverage 14.48 8.30 10.68 1.55 5.85 17.54

Based on: 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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Qualcomm Inc. debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Qualcomm Inc. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Qualcomm Inc. debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Qualcomm Inc. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Qualcomm Inc. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Qualcomm Inc. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Qualcomm Inc. financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Qualcomm Inc. interest coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Qualcomm Inc. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Debt to Equity

Qualcomm Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 26, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Sep 24, 2017 Sep 25, 2016
Selected Financial Data (US$ in millions)
Short-term debt 2,044  500  2,496  1,005  2,495  1,749 
Long-term debt 13,701  15,226  13,437  15,365  19,398  10,008 
Total debt 15,745  15,726  15,933  16,370  21,893  11,757 
 
Total Qualcomm stockholders’ equity 9,950  6,077  4,909  928  30,746  31,778 
Solvency Ratio
Debt to equity1 1.58 2.59 3.25 17.64 0.71 0.37
Benchmarks
Debt to Equity, Competitors2
Advanced Micro Devices Inc. 0.06 0.17 0.99 2.28 3.45
Applied Materials Inc. 0.45 0.52 0.65 0.78 0.57 0.46
Broadcom Inc. 1.59 1.72 1.32 0.66 0.87 0.72
Intel Corp. 0.45 0.37 0.35 0.39 0.38
Lam Research Corp. 0.83 1.12 0.96 0.37 0.40 0.74
Micron Technology Inc. 0.15 0.17 0.16 0.14 0.60 0.82
NVIDIA Corp. 0.41 0.16 0.21 0.27 0.48 0.32
Texas Instruments Inc. 0.74 0.65 0.56 0.39 0.34
Debt to Equity, Sector
Semiconductors & Semiconductor Equipment 0.62 0.57 0.49 0.55 0.47
Debt to Equity, Industry
Information Technology 0.83 0.81 0.81 0.79 0.65

Based on: 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).

1 2021 Calculation
Debt to equity = Total debt ÷ Total Qualcomm stockholders’ equity
= 15,745 ÷ 9,950 = 1.58

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Qualcomm Inc. debt to equity ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Equity (including Operating Lease Liability)

Qualcomm Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 26, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Sep 24, 2017 Sep 25, 2016
Selected Financial Data (US$ in millions)
Short-term debt 2,044  500  2,496  1,005  2,495  1,749 
Long-term debt 13,701  15,226  13,437  15,365  19,398  10,008 
Total debt 15,745  15,726  15,933  16,370  21,893  11,757 
Operating lease liabilities (recorded in Other current liabilities) 126  134  —  —  —  — 
Operating lease liabilities (recorded in Other liabilities) 428  371  —  —  —  — 
Total debt (including operating lease liability) 16,299  16,231  15,933  16,370  21,893  11,757 
 
Total Qualcomm stockholders’ equity 9,950  6,077  4,909  928  30,746  31,778 
Solvency Ratio
Debt to equity (including operating lease liability)1 1.64 2.67 3.25 17.64 0.71 0.37
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.10 0.26 0.99 2.28 3.45
Applied Materials Inc. 0.47 0.54 0.65 0.78 0.57 0.46
Broadcom Inc. 1.61 1.75 1.32 0.66 0.87 0.72
Intel Corp. 0.46 0.38 0.35 0.39 0.38
Lam Research Corp. 0.86 1.16 0.96 0.37 0.40 0.74
Micron Technology Inc. 0.17 0.19 0.16 0.14 0.60 0.82
NVIDIA Corp. 0.46 0.22 0.21 0.27 0.48 0.32
Texas Instruments Inc. 0.77 0.69 0.56 0.39 0.34
Debt to Equity (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.64 0.58 0.49 0.55 0.47
Debt to Equity (including Operating Lease Liability), Industry
Information Technology 0.90 0.84 0.83 0.79 0.65

Based on: 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).

1 2021 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Qualcomm stockholders’ equity
= 16,299 ÷ 9,950 = 1.64

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Qualcomm Inc. debt to equity ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Debt to Capital

Qualcomm Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 26, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Sep 24, 2017 Sep 25, 2016
Selected Financial Data (US$ in millions)
Short-term debt 2,044  500  2,496  1,005  2,495  1,749 
Long-term debt 13,701  15,226  13,437  15,365  19,398  10,008 
Total debt 15,745  15,726  15,933  16,370  21,893  11,757 
Total Qualcomm stockholders’ equity 9,950  6,077  4,909  928  30,746  31,778 
Total capital 25,695  21,803  20,842  17,298  52,639  43,535 
Solvency Ratio
Debt to capital1 0.61 0.72 0.76 0.95 0.42 0.27
Benchmarks
Debt to Capital, Competitors2
Advanced Micro Devices Inc. 0.05 0.15 0.50 0.70 0.78
Applied Materials Inc. 0.31 0.34 0.39 0.44 0.36 0.32
Broadcom Inc. 0.61 0.63 0.57 0.40 0.46 0.42
Intel Corp. 0.31 0.27 0.26 0.28 0.28
Lam Research Corp. 0.45 0.53 0.49 0.27 0.28 0.42
Micron Technology Inc. 0.13 0.15 0.14 0.13 0.37 0.45
NVIDIA Corp. 0.29 0.14 0.18 0.21 0.33 0.24
Texas Instruments Inc. 0.43 0.39 0.36 0.28 0.26
Debt to Capital, Sector
Semiconductors & Semiconductor Equipment 0.38 0.36 0.33 0.35 0.32
Debt to Capital, Industry
Information Technology 0.45 0.45 0.45 0.44 0.39

Based on: 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).

1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 15,745 ÷ 25,695 = 0.61

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Qualcomm Inc. debt to capital ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Capital (including Operating Lease Liability)

Qualcomm Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 26, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Sep 24, 2017 Sep 25, 2016
Selected Financial Data (US$ in millions)
Short-term debt 2,044  500  2,496  1,005  2,495  1,749 
Long-term debt 13,701  15,226  13,437  15,365  19,398  10,008 
Total debt 15,745  15,726  15,933  16,370  21,893  11,757 
Operating lease liabilities (recorded in Other current liabilities) 126  134  —  —  —  — 
Operating lease liabilities (recorded in Other liabilities) 428  371  —  —  —  — 
Total debt (including operating lease liability) 16,299  16,231  15,933  16,370  21,893  11,757 
Total Qualcomm stockholders’ equity 9,950  6,077  4,909  928  30,746  31,778 
Total capital (including operating lease liability) 26,249  22,308  20,842  17,298  52,639  43,535 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.62 0.73 0.76 0.95 0.42 0.27
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.09 0.20 0.50 0.70 0.78
Applied Materials Inc. 0.32 0.35 0.39 0.44 0.36 0.32
Broadcom Inc. 0.62 0.64 0.57 0.40 0.46 0.42
Intel Corp. 0.31 0.28 0.26 0.28 0.28
Lam Research Corp. 0.46 0.54 0.49 0.27 0.28 0.42
Micron Technology Inc. 0.14 0.16 0.14 0.13 0.37 0.45
NVIDIA Corp. 0.31 0.18 0.18 0.21 0.33 0.24
Texas Instruments Inc. 0.44 0.41 0.36 0.28 0.26
Debt to Capital (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.39 0.37 0.33 0.35 0.32
Debt to Capital (including Operating Lease Liability), Industry
Information Technology 0.47 0.46 0.45 0.44 0.39

Based on: 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).

1 2021 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 16,299 ÷ 26,249 = 0.62

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Qualcomm Inc. debt to capital ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Debt to Assets

Qualcomm Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 26, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Sep 24, 2017 Sep 25, 2016
Selected Financial Data (US$ in millions)
Short-term debt 2,044  500  2,496  1,005  2,495  1,749 
Long-term debt 13,701  15,226  13,437  15,365  19,398  10,008 
Total debt 15,745  15,726  15,933  16,370  21,893  11,757 
 
Total assets 41,240  35,594  32,957  32,686  65,486  52,359 
Solvency Ratio
Debt to assets1 0.38 0.44 0.48 0.50 0.33 0.22
Benchmarks
Debt to Assets, Competitors2
Advanced Micro Devices Inc. 0.04 0.08 0.27 0.39 0.43
Applied Materials Inc. 0.21 0.24 0.28 0.30 0.27 0.23
Broadcom Inc. 0.53 0.54 0.49 0.35 0.32 0.27
Intel Corp. 0.24 0.21 0.21 0.22 0.22
Lam Research Corp. 0.31 0.40 0.37 0.19 0.22 0.35
Micron Technology Inc. 0.12 0.12 0.12 0.11 0.32 0.36
NVIDIA Corp. 0.24 0.11 0.15 0.18 0.28 0.19
Texas Instruments Inc. 0.35 0.32 0.30 0.23 0.22
Debt to Assets, Sector
Semiconductors & Semiconductor Equipment 0.30 0.29 0.25 0.27 0.25
Debt to Assets, Industry
Information Technology 0.29 0.29 0.29 0.30 0.27

Based on: 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).

1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 15,745 ÷ 41,240 = 0.38

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Qualcomm Inc. debt to assets ratio improved from 2019 to 2020 and from 2020 to 2021.

Debt to Assets (including Operating Lease Liability)

Qualcomm Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 26, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Sep 24, 2017 Sep 25, 2016
Selected Financial Data (US$ in millions)
Short-term debt 2,044  500  2,496  1,005  2,495  1,749 
Long-term debt 13,701  15,226  13,437  15,365  19,398  10,008 
Total debt 15,745  15,726  15,933  16,370  21,893  11,757 
Operating lease liabilities (recorded in Other current liabilities) 126  134  —  —  —  — 
Operating lease liabilities (recorded in Other liabilities) 428  371  —  —  —  — 
Total debt (including operating lease liability) 16,299  16,231  15,933  16,370  21,893  11,757 
 
Total assets 41,240  35,594  32,957  32,686  65,486  52,359 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.40 0.46 0.48 0.50 0.33 0.22
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Advanced Micro Devices Inc. 0.06 0.12 0.27 0.39 0.43
Applied Materials Inc. 0.22 0.26 0.28 0.30 0.27 0.23
Broadcom Inc. 0.53 0.55 0.49 0.35 0.32 0.27
Intel Corp. 0.24 0.22 0.21 0.22 0.22
Lam Research Corp. 0.33 0.41 0.37 0.19 0.22 0.35
Micron Technology Inc. 0.12 0.13 0.12 0.11 0.32 0.36
NVIDIA Corp. 0.27 0.15 0.15 0.18 0.28 0.19
Texas Instruments Inc. 0.37 0.34 0.30 0.23 0.22
Debt to Assets (including Operating Lease Liability), Sector
Semiconductors & Semiconductor Equipment 0.31 0.29 0.25 0.27 0.25
Debt to Assets (including Operating Lease Liability), Industry
Information Technology 0.31 0.30 0.29 0.30 0.27

Based on: 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).

1 2021 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 16,299 ÷ 41,240 = 0.40

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Qualcomm Inc. debt to assets ratio (including operating lease liability) improved from 2019 to 2020 and from 2020 to 2021.

Financial Leverage

Qualcomm Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 26, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Sep 24, 2017 Sep 25, 2016
Selected Financial Data (US$ in millions)
Total assets 41,240  35,594  32,957  32,686  65,486  52,359 
Total Qualcomm stockholders’ equity 9,950  6,077  4,909  928  30,746  31,778 
Solvency Ratio
Financial leverage1 4.14 5.86 6.71 35.22 2.13 1.65
Benchmarks
Financial Leverage, Competitors2
Advanced Micro Devices Inc. 1.54 2.13 3.60 5.79 7.98
Applied Materials Inc. 2.11 2.11 2.32 2.60 2.08 2.02
Broadcom Inc. 3.03 3.18 2.71 1.88 2.68 2.64
Intel Corp. 1.89 1.76 1.72 1.79 1.71
Lam Research Corp. 2.64 2.81 2.57 1.92 1.78 2.08
Micron Technology Inc. 1.34 1.38 1.36 1.34 1.90 2.28
NVIDIA Corp. 1.70 1.42 1.42 1.50 1.71 1.65
Texas Instruments Inc. 2.11 2.02 1.91 1.71 1.57
Financial Leverage, Sector
Semiconductors & Semiconductor Equipment 2.08 2.00 1.92 1.99 1.89
Financial Leverage, Industry
Information Technology 2.87 2.81 2.83 2.63 2.44

Based on: 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).

1 2021 Calculation
Financial leverage = Total assets ÷ Total Qualcomm stockholders’ equity
= 41,240 ÷ 9,950 = 4.14

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Qualcomm Inc. financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.

Interest Coverage

Qualcomm Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 26, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Sep 24, 2017 Sep 25, 2016
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Qualcomm 9,043  5,198  4,386  (4,864) 2,466  5,705 
Add: Net income attributable to noncontrolling interest —  —  —  —  (1) (3)
Add: Income tax expense 1,231  521  3,095  5,377  555  1,131 
Add: Interest expense 559  602  627  768  494  297 
Earnings before interest and tax (EBIT) 10,833  6,321  8,108  1,281  3,514  7,130 
Solvency Ratio
Interest coverage1 19.38 10.50 12.93 1.67 7.11 24.01
Benchmarks
Interest Coverage, Competitors2
Advanced Micro Devices Inc. 28.23 4.96 3.71 1.49 -1.94
Applied Materials Inc. 29.69 18.36 14.79 21.06 19.84 13.99
Broadcom Inc. 4.59 2.37 2.54 8.24 5.02 -0.89
Intel Corp. 40.87 50.20 50.82 32.50 18.65
Lam Research Corp. 21.95 15.51 21.86 33.36 16.39 8.12
Micron Technology Inc. 35.18 16.41 56.09 42.83 9.66 0.41
NVIDIA Corp. 24.96 58.12 68.17 53.39 33.84 16.81
Texas Instruments Inc. 32.67 34.69 54.49 78.95 62.63
Interest Coverage, Sector
Semiconductors & Semiconductor Equipment 14.62 17.80 22.35 16.87 11.13
Interest Coverage, Industry
Information Technology 16.72 16.24 18.10 17.31 19.12

Based on: 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).

1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= 10,833 ÷ 559 = 19.38

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Qualcomm Inc. interest coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Fixed Charge Coverage

Qualcomm Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Sep 26, 2021 Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Sep 24, 2017 Sep 25, 2016
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Qualcomm 9,043  5,198  4,386  (4,864) 2,466  5,705 
Add: Net income attributable to noncontrolling interest —  —  —  —  (1) (3)
Add: Income tax expense 1,231  521  3,095  5,377  555  1,131 
Add: Interest expense 559  602  627  768  494  297 
Earnings before interest and tax (EBIT) 10,833  6,321  8,108  1,281  3,514  7,130 
Add: Operating lease expense 203  181  146  160  129  116 
Earnings before fixed charges and tax 11,036  6,502  8,254  1,441  3,643  7,246 
 
Interest expense 559  602  627  768  494  297 
Operating lease expense 203  181  146  160  129  116 
Fixed charges 762  783  773  928  623  413 
Solvency Ratio
Fixed charge coverage1 14.48 8.30 10.68 1.55 5.85 17.54
Benchmarks
Fixed Charge Coverage, Competitors2
Advanced Micro Devices Inc. 13.08 3.48 2.89 1.36 -1.35
Applied Materials Inc. 22.50 14.48 12.35 17.53 17.08 11.43
Broadcom Inc. 3.70 1.92 2.27 6.28 3.58 -0.36
Intel Corp. 25.00 36.69 34.36 23.36 13.74
Lam Research Corp. 17.80 12.52 17.83 27.07 14.13 7.36
Micron Technology Inc. 22.49 11.10 32.90 36.32 8.97 0.47
NVIDIA Corp. 14.40 18.89 29.23 28.79 19.32 9.08
Texas Instruments Inc. 21.33 21.68 33.77 39.24 30.70
Fixed Charge Coverage, Sector
Semiconductors & Semiconductor Equipment 10.64 13.86 17.02 12.90 8.55
Fixed Charge Coverage, Industry
Information Technology 10.36 10.69 11.65 10.94 11.53

Based on: 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).

1 2021 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 11,036 ÷ 762 = 14.48

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Qualcomm Inc. fixed charge coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.