QCOMQualcomm

Technology · Communications Equipment · Nasdaq

We incorporated in California in 1985 and reincorporated in Delaware in 1991. 10-K, Item 1

Headquarters: San Diego, CA
CEO: Cristiano R. Amon
Next results: around Feb 3, 2027

RevenueFY2017–26 $43.1B−2.6% FY2025: $44.3B 10-K FY2026 · XBRL Net incomeFY2017–26 $13.6B+145.9% Highest in 10 years 10-K FY2026 · XBRL Free cash flowFY2017–26 $8.7B−32.5% FY2025: $12.8B 10-K FY2026 · XBRL Operating marginFY2017–26 20.1%−7.8 pts 11.6% in FY2017 10-K FY2026 · XBRL

What changed

10-K filed Nov 4, 2026 against Nov 5, 2025

Area	What changed	Source
Risk factors	16 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Cash from operations lower than net income	Cash from operations $11.1B vs net income $13.6B (FY ending 2026-09-27)	10-K · XBRL
Inventory growing faster than revenue	Inventory +32.4% vs revenue -2.6% (+35.0 pts)	10-K · XBRL
Accounting checks	9 other checks clear, 2 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	2 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Nov 4, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-11-05. Quoted as filed.

Although we expect to derive an increasing portion of our revenues from areas outside of mobile handsets, such as automotive, IoT and data center, we continue to derive a significant portion of our revenues from a small number of mobile handset customers and licensees, and particularly from their sale of premium-tier handset devices.…
10-K, Item 1A

All 16 new paragraphs →

Accounting checks

latest 10-K

9 of 11 clear 2 worth a look. Checks, not verdicts.

!
Cash from operations lower than net incomeCash from operations $11.1B vs net income $13.6B (FY ending 2026-09-27)
!
Inventory growing faster than revenueInventory +32.4% vs revenue -2.6% (+35.0 pts)
✓
Receivables -6.4% vs revenue -2.6% (-3.8 pts)
✓
Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
The same matters as last year: F-1; Revenue Recognition - Qualcomm CDMA Technologies (QCT) Segment
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

New risks 16 new paragraphs in Risk Factors in the new 10-K

Nov 4, 20268-K Quarterly results 8-K item 2.02
Nov 4, 202610-K Annual report (10-K) period ended Sep 27, 2026

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