Free Cash Flow to The Firm (FCFF)
Based on: 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).
Item | Description | The company |
---|---|---|
FCFF | Free cash flow to the firm is the cash flow available to the Qualcomm Inc. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Qualcomm Inc. FCFF increased from 2020 to 2021 but then slightly decreased from 2021 to 2022. |
Interest Paid, Net of Tax
Based on: 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).
2 2022 Calculation
Cash interest paid related to commercial paper program and long-term debt, net of cash received from the related interest rate swaps, tax = Cash interest paid related to commercial paper program and long-term debt, net of cash received from the related interest rate swaps × EITR
= 491 × 13.00% = 64
Enterprise Value to FCFF Ratio, Current
Selected Financial Data (US$ in millions) | |
Enterprise value (EV) | 151,352) |
Free cash flow to the firm (FCFF) | 7,431) |
Valuation Ratio | |
EV/FCFF | 20.37 |
Benchmarks | |
EV/FCFF, Competitors1 | |
Advanced Micro Devices Inc. | 48.57 |
Analog Devices Inc. | 26.68 |
Applied Materials Inc. | 22.28 |
Broadcom Inc. | 16.74 |
First Solar Inc. | — |
Intel Corp. | — |
KLA Corp. | 18.79 |
Lam Research Corp. | 27.04 |
Micron Technology Inc. | 21.10 |
NVIDIA Corp. | 170.57 |
ON Semiconductor Corp. | 21.16 |
Texas Instruments Inc. | 27.60 |
EV/FCFF, Sector | |
Semiconductors & Semiconductor Equipment | 38.35 |
EV/FCFF, Industry | |
Information Technology | 28.35 |
Based on: 10-K (reporting date: 2022-09-25).
1 Click competitor name to see calculations.
If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.
Enterprise Value to FCFF Ratio, Historical
Sep 25, 2022 | Sep 26, 2021 | Sep 27, 2020 | Sep 29, 2019 | Sep 30, 2018 | Sep 24, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||
Enterprise value (EV)1 | 135,213) | 158,429) | 150,377) | 100,307) | 80,903) | 63,394) | |
Free cash flow to the firm (FCFF)2 | 7,431) | 9,068) | 4,868) | 6,729) | 3,591) | 4,258) | |
Valuation Ratio | |||||||
EV/FCFF3 | 18.20 | 17.47 | 30.89 | 14.91 | 22.53 | 14.89 | |
Benchmarks | |||||||
EV/FCFF, Competitors4 | |||||||
Advanced Micro Devices Inc. | 38.82 | 43.41 | 126.98 | 169.58 | — | — | |
Analog Devices Inc. | 23.12 | 39.16 | 27.12 | 21.68 | 16.04 | 36.93 | |
Applied Materials Inc. | 19.06 | 26.22 | 22.52 | 18.91 | 9.96 | 15.58 | |
Broadcom Inc. | 14.74 | 19.47 | 16.54 | 15.04 | 13.02 | 20.10 | |
First Solar Inc. | — | — | — | — | — | — | |
Intel Corp. | — | 16.94 | 11.08 | 17.39 | 15.50 | — | |
KLA Corp. | 19.05 | 26.29 | 18.70 | 20.92 | 14.15 | 12.19 | |
Lam Research Corp. | 24.03 | 24.02 | 25.91 | 9.83 | 10.36 | 11.51 | |
Micron Technology Inc. | 18.28 | 33.81 | 292.39 | 14.33 | 5.37 | 17.38 | |
NVIDIA Corp. | 78.07 | 69.47 | 41.65 | 27.92 | 47.71 | — | |
ON Semiconductor Corp. | 20.67 | 19.86 | 33.03 | 46.88 | 12.66 | — | |
Texas Instruments Inc. | 27.05 | 24.23 | 27.67 | 20.75 | 16.49 | — | |
EV/FCFF, Sector | |||||||
Semiconductors & Semiconductor Equipment | 35.05 | 26.37 | 22.31 | 18.50 | 15.89 | — | |
EV/FCFF, Industry | |||||||
Information Technology | 26.63 | 28.03 | 26.16 | 21.64 | 18.26 | — |
Based on: 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).
3 2022 Calculation
EV/FCFF = EV ÷ FCFF
= 135,213 ÷ 7,431 = 18.20
4 Click competitor name to see calculations.
Valuation ratio | Description | The company |
---|---|---|
EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Qualcomm Inc. EV/FCFF ratio decreased from 2020 to 2021 but then slightly increased from 2021 to 2022. |