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Qualcomm (QCOM) earnings and revenue breakdown

Latest: Q4 FY26 · 10-K filed Nov 4, 2026 · Qualcomm (QCOM) Q4 FY26 earnings results →

Q4 FY26 Revenue down 8% year over year to $10.3B · 12¢ of every $1 of revenue kept as net profit · operating margin 13.1%

Qualcomm made $10.3B in Q4 FY26 (-8% Y/Y). Operating margin 13.1%, net earnings $1.3B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Nov 4, 2026.

Revenue$10.3B
Year over year-8%
Operating margin13.1%
Net earnings$1.3B
Operating cash flow$2.7B

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Qualcomm Q4 FY26 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Qualcomm Q4 FY26 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $10.3B in Q4 FY26, down 8% year over year and up 4% from the previous quarter.

Operating profit was $1.4B, a 13.1% margin (down 12.8 points year over year). Total costs grew 7% against a revenue fall of 8%. The fastest-growing cost line was Other operating costs (+503%). Net earnings were $1.3B. The effective tax rate was -6.6%.

Operating cash flow was $2.7B (down 31% year over year), 219% of net earnings. Non-cash charges added back $0.43B of depreciation and amortization and $0.87B of share-based compensation. Working capital and other items added $0.19B. Capital expenditures of $0.92B left free cash flow of $1.8B.

Quarterly history

Qualcomm revenue by quarterQualcomm revenue by quarter$11.0BQ2 FY25$10.4BQ3 FY25$11.3BQ4 FY25$12.3BQ1 FY26$10.6BQ2 FY26$9.9BQ3 FY26$10.3BQ4 FY26
Qualcomm net earnings by quarterQualcomm net earnings by quarter$2.8BQ2 FY25$2.7BQ3 FY25−$3.1BQ4 FY25$3.0BQ1 FY26$7.4BQ2 FY26$2.0BQ3 FY26$1.3BQ4 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q4 FY2610-KNov 4, 2026$10.3B-8%13.1%$1.3B$2.7B
Q3 FY2610-QJul 29, 2026$9.9B-4%16.3%$2.0B$991M
Q2 FY2610-QApr 29, 2026$10.6B-4%21.8%$7.4B$2.4B
Q1 FY2610-QFeb 4, 2026$12.3B+5%27.5%$3.0B$5.0B
Q4 FY2510-KNov 5, 2025$11.3B+10%25.9%−$3.1B$4.0B
Q3 FY2510-QJul 30, 2025$10.4B+10%26.6%$2.7B$2.9B
Q2 FY2510-QApr 30, 2025$11.0B+17%28.4%$2.8B$2.6B

Charts

Qualcomm: revenue growth, year over year and quarter over quarterQualcomm: revenue growth, year over year and quarter over quarterY/YQ/Q+17%Q2 FY25+10%-6%Q3 FY25+10%+9%Q4 FY25+5%+9%Q1 FY26-4%-13%Q2 FY26-4%-6%Q3 FY26-8%+4%Q4 FY26
Latest (Q4 FY26): Y/Y -8%, Q/Q +4%.
Qualcomm: where the cash came from (+) and went (−), FY26Qualcomm: where the cash came from (+) and went (−), FY26Operating cash flow$11.1BBuybacks−$7.8BDividends−$3.9BCash drawn (+) / kept (−)$3.2BCapital spending−$2.5BTaxes on employees’ shares−$1.1BNet borrowing (+) / repaid (−)$497MOther investing$455MShares issued$224MOther financing−$211MExchange rates−$18.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Qualcomm: profit against cash, quarter by quarterQualcomm: profit against cash, quarter by quarterNet incomeOperating cash flow$3.2B$4.6BQ1 FY25$2.8B$2.6BQ2 FY25$2.7B$2.9BQ3 FY25−$3.1B$4.0BQ4 FY25$3.0B$5.0BQ1 FY26$7.4B$2.4BQ2 FY26$2.0B$991MQ3 FY26$1.3B$2.7BQ4 FY26
Latest (Q4 FY26): Net income $1.3B, Operating cash flow $2.7B.
Qualcomm: diluted shares by fiscal yearQualcomm: diluted shares by fiscal year1.15BFY211.14BFY221.13BFY231.13BFY241.10BFY251.07BFY26
-6.6% since FY21: buybacks shrank the count.
Qualcomm: long-term debt falling due (FY26)Qualcomm: long-term debt falling due (FY26)$2.0B2027$962M2028$1.7B2030$10.4BLater
Cash $4.6B, short-term investments $3.0B, long-term debt $12.6B at 2026-09-27.
Qualcomm in its industry: growth against margin (18 companies, SIC 3663)Qualcomm in its industry: growth against margin (18 companies, SIC 3663)revenue growth, year over year →↑ operating marginmedian +40%median 2%MSIUIVISNHLITAVNWPLCMTLONDSBKSYBKTISATLUMACAIRGKUSTWATTCRVWVUZIQCOM (-8%, 13%)
Radio & Tv Broadcasting & Communications Equipment; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Buys from

About Qualcomm

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.

In its own words, from its 10-K, filed Nov 4, 2026.

Qualcomm against its Radio & Tv Broadcasting & Communications Equipment peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -8% against the peers' median +12%. Operating margin: 13.1% against the peers' median 7.2%.

CompanyQuarterRevenueY/YOp. margin
QCOM QualcommQ4 FY26$10.3B-8%13.1%
MSI Motorola SolutionsQ3 2026$3.4B+12%23.0%
UI UbiquitiQ1 FY27$1.0B+40%38.1%
VISN Vistance NetworksQ3 2026$320M-38%7.2%
HLIT HarmonicQ3 2026$149M+64%17.6%
AVNW Aviat NetworksQ4 FY26$121M+5%4.8%
PL Planet Labs PBCQ2 FY27$116M+58%-11.6%
CMTL Comtech TelecommunicationsQ3 FY26$106M-16%-2.9%
ONDS OndasQ2 2026$83.8M13×-194.5%

Source: Qualcomm 10-K on SEC EDGAR · CIK 804328 · Radio & Tv Broadcasting & Communications Equipment

Guidance and outlook

Qualcomm Revenue: guidance against what was reportedQualcomm Revenue: guidance against what was reportedguided rangereported (above / within / below)Q1 FY25Q3 FY25$10.4BQ4 FY25$11.3BQ1 FY26$12.3BQ2 FY26$10.6BQ3 FY26$9.9BQ4 FY26$10.3BQ1 FY27
Met or beat 6 of 6 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Qualcomm Tax rate: guidance against what was reportedQualcomm Tax rate: guidance against what was reportedguided rangereported (above / within / below)Q1 FY2615.3%
Met or beat 0 of 1 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Qualcomm: what its forward-looking statements are about (10-K filed 2026-11-04)Qualcomm: what its forward-looking statements are about (10-K filed 2026-11-04)Other10Supply chain3Tax2Capital spending2Margins2Demand2Financing2Legal & regulation1Buybacks & dividends1Deals1
26 statements; tone +0.12 (−1 all cautious, +1 all confident); 8 hedged.
Qualcomm: outlook statements against the filing beforeQualcomm: outlook statements against the filing beforeNew15Dropped7Confident6Cautious3

13F: who owns QCOM and who is buying

Largest holders of QCOM (13F)Largest holders of QCOM (13F)Vanguard Group$19.5BBlackRock$17.6BVanguard Capital Management LLC$12.7BState Street$9.8BInvesco$6.7BVanguard Portfolio Management LLC$6.3BGeode Capital Management, LLC$5.5BCharles Schwab Investment Managem…$4.1BVan ECK Associates$3.2BMorgan Stanley$3.2B
Funds' net buying of QCOM by quarter (13F)Funds' net buying of QCOM by quarter (13F)−$4.7B2024-09−$630M2024-12−$1.3B2025-03$631M2025-06−$1.4B2025-09$4.6B2025-12$1.7B2026-03−$5.6B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on QCOM

History

Every quarter: Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results

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中文版：高通（QCOM）财报

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