Qualcomm (QCOM) FY2012 results: revenue $19.1 billion, up 27.8% on the year
Qualcomm Inc. (QCOM) reported revenue of $19.1 billion for fiscal 2012, the year ended 30 September 2012, up 27.8% on the year before. Net income was $6.1 billion, up 43.4%, and diluted earnings per share $3.51. The figures are the company's own, from the 10-K it filed with the SEC on 7 November 2012.
Revenue
$19.1 billion
+27.8% on the year
FY2007FY2012
Operating margin
29.7%
33.6% a year earlier
FY2007FY2012
Net income
$6.1 billion
+43.4% on the year
FY2007FY2012
Diluted EPS
$3.51
+39.3% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
19,121
14,957
10,991
+27.8%
Cost of revenue
7,096
4,877
3,301
+45.5%
Gross profit
12,025
10,080
7,690
+19.3%
Gross margin
62.9%
67.4%
70.0%
Research and development
3,915
2,995
2,451
+30.7%
Selling, general and administrative
2,270
1,945
1,503
+16.7%
Operating income
5,682
5,026
3,727
+13.1%
Operating margin
29.7%
33.6%
33.9%
Interest expense
90.0
114
43.0
-21.1%
Pre-tax income
6,562
5,687
4,493
+15.4%
Income tax
1,279
1,132
973
+13.0%
Effective tax rate
19.5%
19.9%
21.7%
Net income
6,109
4,260
3,247
+43.4%
Net margin
31.9%
28.5%
29.5%
Diluted EPS
$3.51
$2.52
$1.96
+39.3%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
5,998
4,900
4,076
+22.4%
Capital expenditure
1,284
593
426
+116.5%
Free cash flow
4,714
4,307
3,650
+9.4%
Free cash flow margin
24.7%
28.8%
33.2%
Cash from investing
-6,877
-4,489
-839
Cash from financing
-757
1,518
-2,405
Depreciation and amortisation
897
1,061
666
-15.5%
Share-based compensation
1,035
824
612
+25.6%
Buybacks
1,313
142
3,016
+824.6%
Dividends paid
1,583
1,346
1,177
+17.6%
Dividend per share
$0.93
$0.81
$0.72
+14.8%
Diluted shares, weighted
1,741m
1,691m
1,658m
+3.0%
Shares outstanding at period end
1,706m
1,681m
1,612m
+1.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
33,523
26,951
20,858
+24.4%
Non-controlling interest
22.0
21.0
0.0
+4.8%
Debt
0.0
994
1,086
Other liabilities
9,467
8,456
8,628
+12.0%
Total liabilities and equity
43,012
36,422
30,572
+18.1%
Fixed assets
2,851
2,414
2,373
+18.1%
Goodwill
3,917
3,432
1,488
+14.1%
Intangible assets
2,938
3,099
3,022
-5.2%
Investments
23,030
15,451
14,855
+49.1%
Cash and equivalents
3,807
5,462
3,547
-30.3%
Receivables
1,459
993
730
+46.9%
Inventory
1,030
765
528
+34.6%
Other assets
3,980
4,806
4,029
-17.2%
Total assets
43,012
36,422
30,572
+18.1%
10-K for the year ended 30 September 2012, filed 7 November 2012: the filing.