Qualcomm Inc.
Financial Performance
Qualcomm Revenue & Financials
Revenue
$44.3B (FY2025)
Market Cap
$208B
Net Income
$5.5B
Employees
52,000
What is Qualcomm's revenue?
Qualcomm had $44.3B in revenue for fiscal year 2025, up 13.7% from 2024. Net income was $5.5B.
- Latest revenue
- $44.3B (FY2025)
- Year-over-year
- +13.7%
- Growth rate (CAGR)
- 7.3% over 9 years
- Peak revenue
- $44.3B (FY2025)
- Years of data
- 10
- Employees
- 52,000
Financial Analysis
Qualcomm's revenue has swung with the smartphone cycle: $44.2B in FY2022, $35.8B in FY2023, $39.0B in FY2024 and a record $44.284B in FY2025. FY2025 operating income was $12.355B, but GAAP net income dropped to $5.541B because of a large non-cash income tax charge booked in the September 2025 quarter. FY2026 has been tougher on the top line. Q2 revenue was $10.599B, and Q3 revenue fell 4% year over year to $9.9B with GAAP EPS of $1.87 and non-GAAP EPS of $2.21, as higher memory costs squeezed handset demand. QTL revenue was $1.3B in Q3. Qualcomm returned $2.3B to shareholders that quarter and guided Q4 FY2026 revenue to $9.7B-$10.5B. Qualcomm commands a massive market valuation often exceeding $180 billion due to its near-monopoly on critical smartphone modems and processors.
Revenue Trend Analysis
YoY Change
+13.7%
9-Year CAGR
+7.3%
Peak Year
2025
Trend
Mostly Growing
Qualcomm Inc. has 10 full fiscal year figures on this page, compounding at +7.3% annually over 9 years. The most recent year saw a 13.7% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $44.3B. Of 9 comparable year-over-year steps, 6 showed growth and 3 showed a decline.
Annual revenue history
Click any row to see year details.
Qualcomm Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row.
| Fiscal Year | Operating cash flow | Total assets | Total liabilities | Shareholders' equity | Source |
|---|---|---|---|---|---|
| FY2025ended Sep 28, 2025 | $14B | $50.1B | $28.9B | — | Form 10-K |
| FY2024ended Sep 29, 2024 | $12.2B | $55.2B | $28.9B | — | Form 10-K |
| FY2023ended Sep 24, 2023 | $11.3B | $51B | $29.5B | — | Form 10-K |
| FY2022ended Sep 25, 2022 | $9.1B | $49B | $31B | — | Form 10-K |
| FY2021ended Sep 26, 2021 | $10.5B | $41.2B | $31.3B | — | Form 10-K |
| FY2020ended Sep 27, 2020 | $5.8B | $35.6B | $29.5B | — | Form 10-K |
| FY2019ended Sep 29, 2019 | $7.3B | $33B | $28B | $4.9B | Form 10-K |
| FY2018ended Sep 30, 2018 | $3.9B | $32.7B | $31.9B | $807M | Form 10-K |
| FY2017ended Sep 24, 2017 | $5B | $65.5B | $34.7B | $30.7B | Form 10-K |
| FY2016ended Sep 25, 2016 | $7.6B | $52.4B | $20.6B | $31.8B | Form 10-K |
Keep researching Qualcomm
Qualcomm Revenue and Financial FAQ
What was Qualcomm's total revenue and net income for FY2025?
In FY2025, Qualcomm reported consolidated revenues of approximately $39.5 billion and net income of $10.1 billion, driven by strong premium-tier Snapdragon 8 Gen-series shipments and high-margin QTL licensing cash flows.
What is Qualcomm's market capitalization and valuation profile?
Qualcomm carries a market capitalization typically ranging between $170 billion and $210 billion on NASDAQ, trading at attractive price-to-earnings multiples relative to mega-cap semiconductor peers, supported by strong free cash flow and dividend yields.
What are the revenue breakdowns between QCT (chips) and QTL (licensing)?
QCT semiconductor equipment and service sales generate approximately $33.5 billion to $35.5 billion (roughly 85% of total revenue), while QTL licensing royalties generate approximately $5.5 billion to $6.0 billion (around 15% of revenue, but contributing over 35% of total corporate pre-tax earnings).
What is Qualcomm's dividend policy and share repurchase track record?
Qualcomm has an unbroken 20+ year record of annual dividend increases (typically offering a 2.0% to 2.5% dividend yield), returning billions in cash to shareholders annually through quarterly dividends and aggressive multi-billion-dollar share repurchase programs.
How large is Qualcomm's R&D investment relative to total revenue?
Qualcomm consistently reinvests approximately 20% to 22% of its annual revenue, exceeding $8.5 billion annually, directly into semiconductor R&D, wireless communications mathematics, and artificial intelligence architectures.
How much revenue does Qualcomm generate from the automotive and IoT sectors?
Qualcomm's non-smartphone revenue is accelerating rapidly: Automotive revenue exceeds $2.5 billion annually (on track toward $4B+ by 2026), and Industrial/Consumer IoT contributes over $5.5 billion annually, diversifying revenue away from handset cyclicality.
What is Qualcomm's relationship and multi-year agreement with Apple?
Qualcomm supplies 5G Snapdragon modem-RF systems for Apple's iPhones under a multi-year chipset supply agreement extending through at least 2026, alongside a separate long-term global patent licensing agreement with Apple through 2027.
What is Qualcomm's balance sheet strength and credit rating?
Qualcomm maintains an exceptionally strong balance sheet with over $13 billion in cash, cash equivalents, and marketable securities, holding solid investment-grade credit ratings of 'A2' from Moody's and 'A' from S&P Global Ratings.
What is Qualcomm’s annual revenue and earnings scale?
Qualcomm generates between $35 billion and $44+ billion in annual gross revenues, with QCT semiconductor sales contributing around $30B–$37B and QTL licensing royalties contributing $5B–$6B+.
Why is the QTL licensing segment so financially lucrative?
While QCT generates the bulk of top-line revenue, QTL operates with astronomical pre-tax operating margins of 68% to 73%, providing immense, predictable high-margin cash flow that funds Qualcomm’s massive R&D budget.
How much does Qualcomm invest in Research & Development (R&D)?
Qualcomm consistently reinvests over 20% of its annual revenues—typically $8 billion to $9+ billion per year—into cutting-edge wireless, silicon architecture, cellular standards, and AI computing research.
What is Qualcomm’s shareholder capital return track record?
Qualcomm has increased its cash dividend for more than 20 consecutive years and regularly deploys billions in annual common stock buybacks, returning the vast majority of its free cash flow to shareholders.
How fast is Qualcomm’s automotive revenue growing?
Automotive is Qualcomm’s fastest-growing segment, generating over $2.5 billion annually with double-digit growth, underpinned by a contracted future design-win pipeline surpassing $45 billion.
How does smartphone market seasonality affect Qualcomm’s quarterly financials?
Qualcomm’s revenues peak in Q1 of its fiscal year (calendar Q4) due to holiday flagship smartphone launches across North America, Europe, and Asia, followed by secondary spring launch cycles in China.
What is Qualcomm’s balance sheet strength and debt profile?
Qualcomm maintains an A+ investment-grade credit rating with substantial cash, cash equivalents, and marketable securities, keeping net debt low and providing immense balance sheet resilience.
How does customer concentration impact Qualcomm’s financial risk?
Major handset makers—notably Apple and Samsung—each account for over 10% of Qualcomm’s revenues; Qualcomm mitigates this risk by expanding into automotive, Windows AI PCs, and industrial robotics.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Qualcomm Revenue & Financials." CorpDigest, https://corpdigest.com/company/qualcomm/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Qualcomm reported $44.3B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/qualcomm/financials" target="_blank" rel="noopener">CorpDigest — Qualcomm financials</a></div>Related Financial Audits
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