Qualcomm Inc. (NASDAQ:QCOM)

Net Fixed Asset Turnover

The net fixed asset turnover ratio shows an overall increasing trend over the observed periods. Starting from 6.62, the ratio steadily climbs to 9.44 by the final period. There are minor fluctuations, but the general pattern indicates improving efficiency in generating sales from fixed assets. Notably, after a slight dip around March to September 2023, the ratio resumes growth and reaches its peak near the end of the timeline.

Total Asset Turnover

The total asset turnover ratio exhibits a moderate increase early in the timeline, beginning at 0.71 and rising to around 0.90 by late 2022. However, it then declines to approximately 0.68 by early 2024 before gradually recovering to 0.88 by the last observed period. This pattern suggests some fluctuations in asset utilization effectiveness, with a period of decreased turnover followed by a recovery in more recent quarters.

Equity Turnover

The equity turnover ratio shows a declining trend from the beginning of the period, starting at 3.62 and dropping consistently to a low of about 1.49 by early 2024, indicating reduced sales generation relative to shareholders' equity. After this trough, there is a slight upward movement, reaching 2.09 by the final period. Despite the partial recovery, the ratio remains well below the initial value, reflecting a significant decrease in equity turnover over the full timeframe.

The financial data reveals several notable trends in the company's quarterly performance over the observed periods.

Revenues

Revenues demonstrate a generally upward trajectory with some fluctuations. Initial revenue figures started at a lower point and peaked notably around the end of 2021, reaching over 11 billion USD. While declines occurred in certain quarters following this peak, revenues recovered and maintained a strong position above 9 billion USD in most recent quarters. The pattern indicates cyclical variations but with an overall growth trend over the multi-year horizon.

Property, Plant, and Equipment, Net

The net value of property, plant, and equipment shows a gradual increase from approximately 4 billion USD to a high point approaching 5.3 billion USD by early 2023. After reaching this peak, there is a slight declining trend in the asset base, with values falling to around 4.4 billion USD before making a modest recovery towards the end of the data period. This suggests some periods of asset divestiture or depreciation exceeding capital investment, followed by stabilization.

Net Fixed Asset Turnover Ratio

The net fixed asset turnover ratio presents a steady improvement throughout the data timeline, rising from about 6.6 to over 9.5 in the later periods. A higher turnover ratio indicates that the company is generating more revenues per unit of fixed assets, reflecting improved asset utilization or operational efficiency. This upward trend, especially notable after mid-2023, suggests enhanced management of property, plant, and equipment in generating sales and potentially better capital allocation decisions.

In summary, the company exhibits sustained revenue growth with intermittent fluctuations, a moderately fluctuating asset base that peaks and then stabilizes, and a continuous improvement in asset efficiency as reflected by the rising net fixed asset turnover ratio. These insights point to effective operational improvements, even amidst capital investment cycles and revenue variability.

The analysis of the quarterly financial data reveals several notable trends across revenues, total assets, and total asset turnover ratios over the observed periods.

Revenues

Revenues show a generally fluctuating pattern across the quarters. Initial figures start around 8,235 million USD, with some volatility observed in subsequent quarters. There is a marked increase reaching a peak near 11,164 million USD in early 2022, followed by some declines and recoveries. Recent quarters indicate a rise again, peaking at approximately 11,669 million USD in late 2024, before a mild decrease and subsequent recovery by late 2025. Overall, revenues demonstrate cyclicality with periodic peaks roughly on an annual basis and a tendency towards higher values in recent years compared to the earlier period.

Total Assets

The total assets exhibit a steady and consistent growth trend throughout the entire timeframe, increasing from about 37,479 million USD initially to approximately 50,143 million USD by late 2025. Despite minor fluctuations, the general direction is upward, suggesting ongoing asset accumulation or investment. This steady rise in asset base indicates strengthening of the company's balance sheet and potential for expanded operational capacity.

Total Asset Turnover

The total asset turnover ratio, which measures the efficiency of using assets to generate revenues, fluctuates within a moderate range between 0.68 and 0.9. Early quarters show an increasing trend from approximately 0.71 up to around 0.9 by mid-2022, indicating improved asset utilization efficiency. However, this is followed by a decline to about 0.68 in early 2024, suggesting a reduction in operational efficiency or changes in asset composition. Towards the end of the period observed, the ratio recovers again, reaching about 0.88 by late 2025, which may reflect enhanced management of assets or higher revenue generation relative to assets.

In summary, the data reflects a company experiencing growth in asset base alongside cyclical revenue patterns. The asset turnover ratio's variations imply fluctuating asset efficiency, with recent improvements signaling potential operational optimizations. The overall financial dynamics suggest adaptive management responding to shifting market or operational conditions while expanding asset capacity over time.

The financial data reveals several notable trends over the observed periods. Revenues exhibited variability with a general upward trend in the earlier years, peaking in late 2021, followed by a decline through late 2022 and early 2023, then a resurgence towards the end of the timeframe in 2024 and 2025. Despite fluctuations, the overall trajectory suggests a capacity to recover and grow revenues after periods of contraction.

Stockholders' equity demonstrated consistent growth throughout most of the periods, increasing steadily from the beginning until early 2025. However, a significant decline is observed in the last reported quarter, indicating a possible event or adjustment impacting equity at that point in time. The strong growth in equity up to that drop implies ongoing capital accumulation and retained earnings expansion, contributing to a strengthening balance sheet.

The equity turnover ratio shows a clear downward trend over the majority of the timeframe, decreasing from above 3.6 to below 1.5 at its lowest point. This reduction indicates that revenues generated per unit of equity have diminished, reflecting either an increase in equity that outpaces revenue growth or a decline in operational efficiency relative to equity base. Towards the final periods, a modest rebound is visible, yet the ratio remains lower than earlier levels, suggesting improved utilization of equity but not to former extents.

Revenues

Initial growth reaching a peak in late 2021, followed by declines and subsequent recovery periods, demonstrating cyclicality and resilience.

Stockholders' equity

Generally increasing trend indicating strengthening equity base with a notable drop at the end, which warrants further investigation.

Equity turnover ratio

Consistent decrease over most periods, pointing to lowered efficiency in generating sales from equity, with slight recovery towards the end but still below earlier values.

Overall, the data suggests that while the company has managed to grow its equity substantially, challenges have emerged in maintaining revenue growth and operational efficiency relative to equity. The late decline in equity and the partial rebound in equity turnover highlight areas that may require strategic focus to sustain long-term financial health.