QUALCOMM Incorporated

QCOM

152.89 (3.52%) 5.39

169.86(B)

Information Technology

Semiconductors and Semiconductor Equipment

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software with advanced connectivity and high-performance and low-power computing technologies for use in mobile devices; automotive systems for connectivity digital cockpit and ADAS/AD; and IoT including consumer electronic devices industrial devices and edge networking products. The QTL segment grants licenses or provides rights to use portions of its intellectual property portfolio which include various patent rights useful in the manufacture and sale of wireless products comprising products implementing CDMA2000 WCDMA LTE and/or OFDMA-based 5G products. The QSI segment invests in early-stage companies in various industries including 5G artificial intelligence automotive consumer enterprise cloud IoT and extended reality and investments including non-marketable equity securities and to a lesser extent marketable equity securities and convertible debt instruments. It also provides development and other services and sells related products to the United States government agencies and their contractors. The company was incorporated in 1985 and is headquartered in San Diego California.

Holdings:

Cost basis:

QUALCOMM Incorporated (QCOM) price target and intrinsic value estimate

QCOM's fair price estimate is $324.0

This valuation is based on a fair P/E of 30.1 and EPS estimates of $10.77

The median analyst price target for QCOM is $200.0.

Analyst price targets range from $160.0 to $270.0

Is QCOM overvalued or undervalued?

QCOM is currently trading at $152.89

QCOM is undervalued by 53% using the pevaluation method.

QCOM is undervalued by 24% compared to median analyst price targets.

Do you agree with this valuation?

Valuation

PEvaluation

Low $243.0

Median $324.0

High $409.2

Fair P/E

Margin of safety

Analyst valuation

Low $160.0

Median $200.0

High $270.0

Strong Buy7

Buy14

Hold17

Sell1

Strong Sell0

Discounted cash-flow

TTM FCFFCF est.Growth FCFTerminal FCF

Discount rate:

10%

Terminal rate:

Growth phase length:

Growth phase rate:

10%

Economic moat: Very wide

Overview

Market data

Market cap:$169.86(B)

Enterprise value:$172.00(B)

Total Equity:$26.27(B)

Shares outstanding:1.11(B)

Div. yield:2.16%

P/S:4.38

P/E:16.82

P/FCF:15.24

P/B:6.48

EPS:$9.1

FCF per share:$10.0

Dividend per share:$3.3

Income (TTM)

Revenue$38.96(B)

Gross profit$21.90(B)

EBITDA$11.96(B)

Net income$10.14(B)

Gross margin56.2%

Net margin26.0%

Balance sheet

Total assets$55.15(B)

Total liabilities$28.88(B)

Cash & Short-term inv.$13.30(B)

Long-term debt$13.27(B)

Debt issued$799.00(M)

Debt repaid$-1.71(B)

Cash flow (TTM)

FCF$11.16(B)

CapEx$-1.04(B)

Dividends paid$-3.69(B)

Stock issued$383.00(M)

Stock repurchased$-5.05(B)

Stock-based comp.$2.65(B)

Future Growth

Revenue

CAGR: 5.1%

FY+1$42.57(B)

FY+2$45.30(B)

FY+3$47.01(B)

Net Income

CAGR: 9.6%

FY+1$12.55(B)

FY+2$13.52(B)

FY+3$13.90(B)

FY+4$15.96(B)

FY+5$18.09(B)

EPS

CAGR: 10.3%

FY+1$11.20

FY+2$12.29

FY+3$12.45

FY+4$14.51

FY+5$16.57

FCF per share

CAGR: 6.7%

FY+1$13.11

FY+2$13.99

FY+3$14.93

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Historical Financials

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YearlyQuarterly

Income

RevenueNet IncomeCOGSGross ProfitTotal OpEx.R&DSG&AOperating IncomeInterest ExpenseInterest IncomePre-tax incomeIncome tax

Cash flow

FCFCFONet IncomeD&AStock-based Comp.CFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures

Balance sheet

Total AssetsTotal LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EGoodwillCurrent liabilitiesAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity

Shares outstanding

Shares (Basic)Shares (Diluted)

Per share data

EPS (Basic)EPS (Diluted)FCF/ShareDividend/ShareBook value/Share

Ratios

P/EP/FCFP/BP/SEV/EarningsEV/FCFDebt/EquityPayout ratio

Margins

Net Income MarginOperating MarginGross MarginEBITDA MarginFCF Margin

Returns

ROICROAROCEROE

Market Cap.