Qualcomm (QCOM) FY2011 results: revenue $15.0 billion, up 36.1% on the year
Qualcomm Inc. (QCOM) reported revenue of $15.0 billion for fiscal 2011, the year ended 25 September 2011, up 36.1% on the year before. Net income was $4.3 billion, up 31.2%, and diluted earnings per share $2.52. The figures are the company's own, from the 10-K it filed with the SEC on 2 November 2011.
Revenue
$15.0 billion
+36.1% on the year
FY2007FY2011
Operating margin
33.6%
33.9% a year earlier
FY2007FY2011
Net income
$4.3 billion
+31.2% on the year
FY2007FY2011
Diluted EPS
$2.52
+28.6% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
14,957
10,991
10,387
+36.1%
Cost of revenue
4,877
3,301
3,025
+47.7%
Gross profit
10,080
7,690
7,362
+31.1%
Gross margin
67.4%
70.0%
70.9%
Research and development
2,995
2,451
2,345
+22.2%
Selling, general and administrative
1,945
1,503
1,462
+29.4%
Operating income
5,026
3,727
2,542
+34.9%
Operating margin
33.6%
33.9%
24.5%
Interest expense
114
43.0
-13.0
+165.1%
Pre-tax income
5,687
4,493
2,403
+26.6%
Income tax
1,132
973
611
+16.3%
Effective tax rate
19.9%
21.7%
25.4%
Net income
4,260
3,247
1,592
+31.2%
Net margin
28.5%
29.5%
15.3%
Diluted EPS
$2.52
$1.96
$0.95
+28.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
4,900
4,076
7,172
+20.2%
Capital expenditure
593
426
761
+39.2%
Free cash flow
4,307
3,650
6,411
+18.0%
Free cash flow margin
28.8%
33.2%
61.7%
Cash from investing
-4,489
-839
-5,457
Cash from financing
1,518
-2,405
-833
Depreciation and amortisation
1,061
666
635
+59.3%
Share-based compensation
824
612
584
+34.6%
Buybacks
142
3,016
285
-95.3%
Dividends paid
1,346
1,177
1,093
+14.4%
Dividend per share
$0.81
$0.72
$0.66
+12.5%
Diluted shares, weighted
1,691m
1,658m
1,673m
+2.0%
Shares outstanding at period end
1,681m
1,612m
1,669m
+4.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
26,951
20,858
20,316
+29.2%
Non-controlling interest
21.0
0.0
n/a
Debt
994
1,086
n/a
-8.5%
Other liabilities
8,456
8,628
7,129
-2.0%
Total liabilities and equity
36,422
30,572
27,445
+19.1%
Fixed assets
2,414
2,373
2,387
+1.7%
Goodwill
3,432
1,488
1,492
+130.6%
Intangible assets
3,099
3,022
3,065
+2.5%
Investments
15,451
14,855
15,025
+4.0%
Cash and equivalents
5,462
3,547
2,717
+54.0%
Receivables
993
730
700
+36.0%
Inventory
765
528
453
+44.9%
Other assets
4,806
4,029
1,606
+19.3%
Total assets
36,422
30,572
27,445
+19.1%
10-K for the year ended 25 September 2011, filed 2 November 2011: the filing.