Qualcomm (QCOM) FY2013 results: revenue $24.9 billion, up 30.0% on the year
Qualcomm Inc. (QCOM) reported revenue of $24.9 billion for fiscal 2013, the year ended 29 September 2013, up 30.0% on the year before. Net income was $6.9 billion, up 12.2%, and diluted earnings per share $3.91. The figures are the company's own, from the 10-K it filed with the SEC on 6 November 2013.
Revenue
$24.9 billion
+30.0% on the year
FY2007FY2013
Operating margin
29.1%
29.7% a year earlier
FY2007FY2013
Net income
$6.9 billion
+12.2% on the year
FY2007FY2013
Diluted EPS
$3.91
+11.4% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
24,866
19,121
14,957
+30.0%
Cost of revenue
9,820
7,096
4,877
+38.4%
Gross profit
15,046
12,025
10,080
+25.1%
Gross margin
60.5%
62.9%
67.4%
Research and development
4,967
3,915
2,995
+26.9%
Selling, general and administrative
2,518
2,270
1,945
+10.9%
Operating income
7,230
5,682
5,026
+27.2%
Operating margin
29.1%
29.7%
33.6%
Interest expense
23.0
90.0
114
-74.4%
Pre-tax income
8,194
6,562
5,687
+24.9%
Income tax
1,349
1,279
1,132
+5.5%
Effective tax rate
16.5%
19.5%
19.9%
Net income
6,853
6,109
4,260
+12.2%
Net margin
27.6%
31.9%
28.5%
Diluted EPS
$3.91
$3.51
$2.52
+11.4%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
8,778
5,998
4,900
+46.3%
Capital expenditure
1,048
1,284
593
-18.4%
Free cash flow
7,730
4,714
4,307
+64.0%
Free cash flow margin
31.1%
24.7%
28.8%
Cash from investing
-1,578
-6,877
-4,489
Cash from financing
-4,845
-757
1,518
Depreciation and amortisation
1,017
897
1,061
+13.4%
Share-based compensation
1,105
1,035
824
+6.8%
Buybacks
4,610
1,313
142
+251.1%
Dividends paid
2,055
1,583
1,346
+29.8%
Dividend per share
$1.20
$0.93
$0.81
+29.0%
Diluted shares, weighted
1,754m
1,741m
1,691m
+0.7%
Shares outstanding at period end
1,685m
1,706m
1,681m
-1.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
36,088
33,523
26,951
+7.7%
Non-controlling interest
-1.0
22.0
21.0
Debt
0.0
0.0
994
Other liabilities
9,429
9,467
8,456
-0.4%
Total liabilities and equity
45,516
43,012
36,422
+5.8%
Fixed assets
2,995
2,851
2,414
+5.1%
Goodwill
3,976
3,917
3,432
+1.5%
Intangible assets
2,553
2,938
3,099
-13.1%
Investments
23,264
23,030
15,451
+1.0%
Trading assets
510
n/a
n/a
Cash and equivalents
6,142
3,807
5,462
+61.3%
Receivables
2,142
1,459
993
+46.8%
Inventory
1,302
1,030
765
+26.4%
Other assets
2,632
3,980
4,806
-33.9%
Total assets
45,516
43,012
36,422
+5.8%
10-K for the year ended 29 September 2013, filed 6 November 2013: the filing.