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Screener / SEC EDGAR /CIK 0000804328 /10-K filed Nov 4, 2026, compared with Nov 5, 2025 /Numbers from the XBRL of the 10-Ks
Technology peers:
HPECRMQCOMAMDAPHJBL
Nasdaq Technology · Communications Equipment

Qualcomm QCOM

QCOM quote by TradingView

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
Compare with peers Embed

Where each dollar of revenue went, FY2026

Revenue of $43.1B through the costs to a net profit of $13.6B · income statement of the 10-K

20% operating margin
Revenue to Gross profit: $22.9BRevenue to Cost of revenue: $20.2BGross profit to Operating profit: $8.7BGross profit to Operating expenses: $14.2BOperating profit to Net profit: $8.7BOther income to Net profit: $5.0BOperating expenses to R&D: $10.2BOperating expenses to Sales, admin & other: $4.0B Revenue: $43.1B REVENUE $43.1B −3% Y/Y Gross profit: $22.9B · 53% margin GROSS PROFIT $22.9B 53% margin Cost of revenue: $20.2B · 47% of revenue COST OF REVENUE $20.2B 47% of revenue Operating profit: $8.7B · 20% margin OPERATING PROFIT $8.7B 20% margin · −30% Y/Y Other income: $5.0B · 12% of revenue OTHER INCOME $5.0B 12% of revenue Operating expenses: $14.2B · 33% of revenue OPERATING EXPENSES $14.2B 33% of revenue Net profit: $13.6B · 32% margin NET PROFIT $13.6B 32% margin · +146% Y/Y R&D: $10.2B · 24% of revenue R&D $10.2B 24% of revenue Sales, admin & other: $4.0B · 9% of revenue SALES, ADMIN & OTHER $4.0B 9% of revenue
Gross profit $22.9B 53% margin
Operating profit $8.7B 20% margin · −30% Y/Y
Net profit $13.6B 32% margin · +146% Y/Y
The full income statement, year by year

QCOM among Technology peers

Six ratios from the latest 10-K. Each corner is the share of 74 peers the company is above, not a score.

Compare
Revenue growth: -2.6%, above 4% of 74 peers (their median 14.1%) REVENUE GROWTH -2.6% · above 4% Gross margin: 53.1%, above 43% of 67 peers (their median 58.0%) GROSS MARGIN 53.1% · above 43% Operating margin: 20.1%, above 44% of 70 peers (their median 23.8%) OPERATING MARGIN 20.1% · above 44% Net margin: 31.6%, above 78% of 74 peers (their median 18.9%) NET MARGIN 31.6% · above 78% FCF margin: 20.1%, above 40% of 70 peers (their median 23.7%) FCF MARGIN 20.1% · above 40% Return on capital: 28.8%, above 84% of 61 peers (their median 12.6%) RETURN ON CAPITAL 28.8% · above 84%
QCOM Peer median Below the median

What changed

16 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Nov 4, 2026 against Nov 5, 2025.

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 Sep 27, 2026)
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.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 9 checks found nothing to note

  • Cash from operations lower than net income
    Cash from operations $11.1B vs net income $13.6B (FY ending Sep 27, 2026)
  • Inventory growing faster than revenue
    Inventory +32.4% vs revenue -2.6% (+35.0 pts)
  • Receivables -6.4% vs revenue -2.6% (-3.8 pts)
8 more checks with nothing to note
  • 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

In their words

16 paragraphs in Risk Factors that were not in the 10-K filed Nov 5, 2025. Quoted as filed.

All 16 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Nov 5, 2025 10-K, ITEM 1A
    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.…
  2. Item 1A · new paragraph · not in the 10-K filed Nov 5, 2025 10-K, ITEM 1A
    Further, as we seek to grow and diversify our business in areas such as automotive, IoT and data center, we may also derive a significant portion of revenues in such areas from a limited number of customers, hyperscalers, automakers or other industry participants.
  3. Item 1A · new paragraph · not in the 10-K filed Nov 5, 2025 10-K, ITEM 1A
    For example, the automotive industry is subject to long design-in time frames, long product life cycles and a high degree of regulatory, safety and other requirements (including, in some cases, customer requirements to meet certain sustainability, climate or other environmental or social-related targets), necessitating suppliers to the…
  4. Item 1A · new paragraph · not in the 10-K filed Nov 5, 2025 10-K, ITEM 1A
    Our increasing focus on artificial intelligence (AI), including on-device AI, agentic AI and AI infrastructure, may not result in the anticipated benefits and could expose us to additional competitive, regulatory, intellectual property and operational risks. AI technologies, including machine learning, generative AI, agentic AI and…

New risk paragraphs, against peers

Latest 10-K of each, Technology companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2023FY2024FY2025FY2026
Revenue$35.8B$39.0B$44.3B$43.1B
Net income$7.2B$10.1B$5.5B$13.6B
Operating cash flow$11.3B$12.2B$14.0B$11.1B
Free cash flow$9.8B$11.2B$12.8B$8.7B

Revenue, FY2017 to FY2026

Ten fiscal years, each from its own 10-K · XBRL · USD

$43.1B ▼ 2.6% in FY2026

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings
New risks16 new paragraphs in Risk Factors in the new 10-K

About the company

Qualcomm, San Diego, CA · from the 10-K filed Nov 4, 2026

We incorporated in California in 1985 and reincorporated in Delaware in 1991. We operate and report using a 52-53 week fiscal year ending on the last Sunday in September. Our 52-week fiscal years consist of four equal fiscal quarters of 13 weeks each, and our 53-week fiscal years consist of three 13-week fiscal quarters and one 14-week fiscal quarter. The financial results for our 53-week fiscal years and our 14-week fiscal quarters will not be exactly comparable to our 52-week fiscal years and our 13-week fiscal quarters. Our fiscal years for 2026, 2025 and 2024 included 52 weeks, 52 weeks and 53 weeks, respectively. Our fiscal year for 2027 will include 52 weeks.

Headquarters
San Diego, CA
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
September 27
Last results
Nov 4, 2026
Incorporated in
DE

Email alerts

Sources

The 10-K filed Nov 4, 2026 (open at SEC), compared with the 10-K filed Nov 5, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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