QCOM changes
Pick any two versions below to diff them.
- Price
- $181.03 → $175.50(−3.1%)
- Discount category
- Pricey → Close to intrinsic value
- Next earnings
- Nov 11, 2026 → Nov 4, 2026
- Balance sheet
- added: Cash: $8.3B Debt: $15.3B Net debt: $7.0B Interest cover: 14× Undrawn credit line: $4.0B, to August 2029 Debt due within 12 months: $2.0B Ratings: Moody's A2 (stable outlook), S&P A (stable outlook) Qualcomm funds itself mainly with cash from its chip and patent license removed: businesses. added: businesses, but buybacks now come partly from cash and debt. All of its debt is unsecured debt that the parent company removed: issues. At June 28, 2026, debt was $15.3 billion: added: issues: fixed-rate notes plus $498 million of commercial paper. removed: $2.0 billion of the notes falls due in May 2027. Interest rate swaps change $5.0 billion of the fixed-rate notes to floating rates. Cash removed: and added: includes marketable removed: securities were $8.3 billion, down added: securities, and it fell from $12.5 billion in September 2025. removed: Thus net debt was about $7.0 billion. This is small against operating added: Operating income plus depreciation and amortization removed: of added: was $8.5 billion in only the first nine months of fiscal 2026. removed: In added: Interest cover is for those nine removed: months, operating income of $7.3 billion covered interest expense of $519 million about 14 times. When Qualcomm added: months. The ratings are from Qualcomm's last removed: issued notes added: issue in May removed: 2025, Moody's rated them A2 and S&P rated them A, both stable. An added: 2025. The undrawn removed: $4.0 billion revolving credit line removed: to August 2029 backs a commercial paper program of up to $4.5 billion. In the first nine months of fiscal 2026, Qualcomm spent $6.8 billion on buybacks and $2.9 billion on dividends. This was more than its operating cash flow of $8.4 billion less $1.6 billion of capital spending. It also paid for Alphawave, so cash fell. The balance sheet still has room for the $20 billion buyback plan. removed: But buybacks now come partly from cash and debt. Qualcomm gave Amazon a warrant for about 25 million shares, which can dilute shareholders if Amazon buys enough chips. As of Jun 28, 2026.
- Checkpoints
- Nov removed: 11, added: 4, 2026 (estimate): Fiscal Q4 2026 earnings: handset decline and AI chip outlook. Pending. Watch: Revenue inside the $9.7 to $10.5 billion guidance and a December quarter outlook that includes first AI data-center revenue pass; a weaker outlook or a delay of AI revenue fails. Feb 2027 (estimate): Fiscal Q1 2027 earnings: first AI data-center chip revenue. Pending. Watch: Reported AI data-center revenue from Amazon or Humain and automotive growth that offsets lower Apple sales pass; zero AI revenue fails. Apr 2027 (estimate): Fiscal Q2 2027 earnings: AI chip revenue keeps growing. Pending. Watch: AI data-center revenue that rises from the December quarter and stable licensing income pass; flat or falling AI revenue fails.