Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)
P to FCFE Ratio, Current
P to FCFE Ratio, Historical

Free Cash Flow to Equity (FCFE)

Qualcomm Inc., FCFE calculation

US$ in millions

12 months ended:	Sep 29, 2024	Sep 24, 2023	Sep 25, 2022	Sep 26, 2021	Sep 27, 2020	Sep 29, 2019
Net income	10,142)	7,232)	12,936)	9,043)	5,198)	4,386)
Net noncash charges	928)	3,318)	4,130)	1,954)	2,223)	4,124)
Changes in assets and liabilities	1,223)	1,148)	(7,800)	(461)	(1,607)	(1,224)
Net cash provided by operating activities	12,293)	11,698)	9,266)	10,536)	5,814)	7,286)
Capital expenditures	(1,041)	(1,450)	(2,262)	(1,888)	(1,407)	(887)
Proceeds from sales of property, plant and equipment	10)	127)	5)	3)	—)	—)
Proceeds from short-term debt	799)	5,068)	7,000)	2,886)	2,848)	5,989)
Repayment of short-term debt	(799)	(5,566)	(7,003)	(2,885)	(2,846)	(6,492)
Repayment of debt of acquired company	—)	—)	(349)	—)	—)	—)
Proceeds from long-term debt	—)	1,880)	1,477)	—)	1,988)	—)
Repayment of long-term debt	(914)	(1,446)	(1,540)	—)	(2,219)	—)
Free cash flow to equity (FCFE)	10,348)	10,311)	6,594)	8,652)	4,178)	5,896)

Based on: 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).

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Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to Qualcomm Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	Qualcomm Inc. FCFE increased from 2022 to 2023 and from 2023 to 2024.

Price to FCFE Ratio, Current

Qualcomm Inc., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding	1,098,000,000
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)	10,348)
FCFE per share	9.42
Current share price (P)	154.72
Valuation Ratio
P/FCFE	16.42
Benchmarks
P/FCFE, Competitors¹
Advanced Micro Devices Inc.	113.80
Analog Devices Inc.	30.10
Applied Materials Inc.	16.94
Broadcom Inc.	29.42
Intel Corp.	—
KLA Corp.	30.47
Lam Research Corp.	28.63
Micron Technology Inc.	—
Monolithic Power Systems Inc.	50.17
NVIDIA Corp.	58.12
Texas Instruments Inc.	45.68
P/FCFE, Sector
Semiconductors & Semiconductor Equipment	68.67
P/FCFE, Industry
Information Technology	42.74

Based on: 10-K (reporting date: 2024-09-29).

¹ Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Qualcomm Inc., historical P/FCFE calculation, comparison to benchmarks

	Sep 29, 2024	Sep 24, 2023	Sep 25, 2022	Sep 26, 2021	Sep 27, 2020	Sep 29, 2019
No. shares of common stock outstanding¹	1,111,000,000	1,113,000,000	1,121,000,000	1,120,000,000	1,131,000,000	1,141,844,863
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)²	10,348)	10,311)	6,594)	8,652)	4,178)	5,896)
FCFE per share³	9.31	9.26	5.88	7.73	3.69	5.16
Share price^1, 4	172.99	110.89	112.50	138.48	128.97	84.63
Valuation Ratio
P/FCFE⁵	18.57	11.97	19.13	17.93	34.91	16.39
Benchmarks
P/FCFE, Competitors⁶
Advanced Micro Devices Inc.	109.67	241.70	33.46	44.72	133.51	—
Analog Devices Inc.	29.30	22.28	24.14	34.67	33.98	37.52
Applied Materials Inc.	17.05	17.53	19.17	27.20	23.21	19.53
Broadcom Inc.	26.03	30.06	14.62	22.35	9.16	5.64
Intel Corp.	—	—	—	14.25	8.57	—
KLA Corp.	25.11	26.78	9.01	28.05	19.15	9.84
Lam Research Corp.	25.89	18.67	24.95	34.58	16.89	6.14
Micron Technology Inc.	—	—	18.66	37.24	81.71	13.92
Monolithic Power Systems Inc.	43.14	60.34	121.66	95.13	83.64	—
NVIDIA Corp.	65.45	151.07	54.83	35.22	44.24	—
Texas Instruments Inc.	42.96	37.61	23.88	21.87	24.10	—
P/FCFE, Sector
Semiconductors & Semiconductor Equipment	45.79	47.70	29.30	25.10	17.84	—
P/FCFE, Industry
Information Technology	36.62	33.19	26.96	27.33	23.40	—

¹ Data adjusted for splits and stock dividends.

² See details »

³ 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 10,348,000,000 ÷ 1,111,000,000 = 9.31

⁴ Closing price as at the filing date of Qualcomm Inc. Annual Report.

⁵ 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 172.99 ÷ 9.31 = 18.57

⁶ Click competitor name to see calculations.

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Valuation ratio	Description	The company
P/FCFE	Price to free cash flow to equity is cash valuation indicator of stockholders’ equity.	Qualcomm Inc. P/FCFE ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.

Qualcomm Inc. (NASDAQ:QCOM)

Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)

Price to FCFE Ratio, Current

Price to FCFE Ratio, Historical