Qualcomm (QCOM) FY2015 results: revenue $25.3 billion, down 4.6% on the year
Qualcomm Inc. (QCOM) reported revenue of $25.3 billion for fiscal 2015, the year ended 27 September 2015, down 4.6% on the year before. Net income was $5.3 billion, down 33.8%, and diluted earnings per share $3.22. The figures are the company's own, from the 10-K it filed with the SEC on 4 November 2015.
Revenue
$25.3 billion
-4.6% on the year
FY2008FY2015
Operating margin
22.8%
28.5% a year earlier
FY2008FY2015
Net income
$5.3 billion
-33.8% on the year
FY2008FY2015
Diluted EPS
$3.22
-30.8% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
25,281
26,487
24,866
-4.6%
Cost of revenue
10,378
10,686
9,820
-2.9%
Gross profit
14,903
15,801
15,046
-5.7%
Gross margin
58.9%
59.7%
60.5%
Research and development
5,490
5,477
4,967
+0.2%
Selling, general and administrative
2,344
2,290
2,518
+2.4%
Operating income
5,776
7,550
7,230
-23.5%
Operating margin
22.8%
28.5%
29.1%
Interest expense
104
5.0
23.0
+1,980.0%
Pre-tax income
6,487
8,778
8,194
-26.1%
Income tax
1,219
1,244
1,349
-2.0%
Effective tax rate
18.8%
14.2%
16.5%
Net income
5,271
7,967
6,853
-33.8%
Net margin
20.8%
30.1%
27.6%
Diluted EPS
$3.22
$4.65
$3.91
-30.8%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
5,506
8,887
8,778
-38.0%
Capital expenditure
994
1,185
1,048
-16.1%
Free cash flow
4,512
7,702
7,730
-41.4%
Free cash flow margin
17.8%
29.1%
31.1%
Cash from investing
-3,572
-1,639
-1,578
Cash from financing
-2,261
-5,480
-4,845
Depreciation and amortisation
1,214
1,150
1,017
+5.6%
Share-based compensation
1,026
1,059
1,105
-3.1%
Buybacks
11,246
4,549
4,610
+147.2%
Dividends paid
2,880
2,586
2,055
+11.4%
Dividend per share
$1.80
$1.54
$1.20
+16.9%
Diluted shares, weighted
1,639m
1,714m
1,754m
-4.4%
Shares outstanding at period end
1,524m
1,669m
1,685m
-8.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
31,421
39,169
36,088
-19.8%
Non-controlling interest
-7.0
-3.0
-1.0
Short-term borrowings
n/a
0.0
n/a
Debt
10,969
0.0
0.0
Other liabilities
8,413
9,408
9,429
-10.6%
Total liabilities and equity
50,796
48,574
45,516
+4.6%
Fixed assets
2,534
2,487
2,995
+1.9%
Goodwill
5,479
4,488
3,976
+22.1%
Intangible assets
3,742
2,580
2,553
+45.0%
Investments
23,387
24,115
23,264
-3.0%
Trading assets
0.0
511
510
Cash and equivalents
7,560
7,907
6,142
-4.4%
Receivables
1,941
2,362
2,142
-17.8%
Inventory
1,492
1,458
1,302
+2.3%
Other assets
4,661
2,666
2,632
+74.8%
Total assets
50,796
48,574
45,516
+4.6%
10-K for the year ended 27 September 2015, filed 4 November 2015: the filing.