"... we will continue to transform Qualcomm from a wireless communications company into a connected computing company for the age of AI." - Cristiano Amon
— Cristiano Amon
03Detailed Report
QCOM
QUALCOMM Incorporated
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 24, 2026
Swipe to view all report sections
Executive Summary
In the fourth quarter of fiscal 2024, Qualcomm Incorporated (NASDAQ: QCOM) reported robust financial results, delivering revenue of $10.2 billion and a net income of $2.92 billion, translating to an earnings per share (EPS) of $2.69. This performance showcases a significant year-over-year (YoY) revenue growth of 18.69% and a quarter-over-quarter (QoQ) increase of 9.06%. Key drivers of this growth include the strength in the Company’s chipset business, particularly fueled by advancements in Artificial Intelligence (AI) and continued growth in automotive and IoT segments. Management expressed optimism regarding Qualcomm's transition towards a more diversified technology company, emphasizing their expansion into new markets and partnerships including a strong presence within the burgeoning AI sector.
The results further indicate that Qualcomm's strategic focus on AI capabilities and diversification across various applications, such as automotive and edge computing, underpins its growth trajectory. The CEO, Cristiano Amon, remarked on their commitment to becoming a leader in connected computing for the age of AI, further enhancing Qualcomm's market positioning. Investors should leverage this growth while monitoring automotive market developments and Qualcomm's competitive edge in chipset performance.
Key Performance Indicators
Revenue
Increasing
10.24B
QoQ: 9.06% | YoY: 18.69%
Gross Profit
Increasing
5.78B
56.39% margin
QoQ: 10.69% | YoY: 21.60%
Operating Income
Increasing
2.58B
QoQ: 12.46% | YoY: 82.99%
Net Income
Increasing
2.92B
QoQ: 37.15% | YoY: 95.97%
EPS
Increasing
2.62
QoQ: 37.17% | YoY: 96.99%
Revenue Trend
Margin Analysis
Financial Highlights
1. Revenue Performance:
- Q4 Revenue: $10.2 billion, up 18.69% YoY and 9.06% QoQ.
- Total annual revenue FY24: $39 billion, a 21% increase YoY.
2. Profitability Metrics:
- Net Income: $2.92 billion (Net Income margin of 28.5%).
- EPS: $2.69, a 96.99% increase YoY.
3. Operating Metrics:
- Operating Income: $2.58 billion, with an operating margin of 25.2%.
- Gross Profit Margin: 56.4%.
4. Cash Flow:
- Free Cash Flow: $2.39 billion.
- Cash and Cash Equivalents: $7.85 billion at year-end.
5. Debt Metrics:
- Total Debt: $14.63 billion, with a Debt/Equity ratio of 0.557.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
10.24B
18.69%
9.06%
Gross Profit
5.78B
21.60%
10.69%
Operating Income
2.58B
82.99%
12.46%
Net Income
2.92B
95.97%
37.15%
EPS
2.62
96.99%
37.17%
Key Financial Ratios
Gross Profit Margin
Good
56.40%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Excellent
25.20%
Operating margin is exceptional, indicating strong pricing power and operational efficiency
Net Profit Margin
Excellent
28.50%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
Return on Assets
Fair
5.29%
Return on assets is acceptable but below top-tier companies
Return on Equity
Fair
11.10%
Return on equity is acceptable but below top-tier companies
Current Ratio
Healthy
2.40
Current ratio shows adequate liquidity to meet short-term obligations
Debt to Equity
Moderate
0.56
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Fair Value
16.25x
P/E ratio in line with market averages
Price to Book
High Premium
7.22x
Very high premium suggests asset-light business model or lofty expectations
Management Insights Available for Members
Get exclusive access to management commentary, earnings call quotes, and forward guidance from company leadership.