Qualcomm (QCOM) FY2016 results: revenue $23.6 billion, down 6.8% on the year
Qualcomm Inc. (QCOM) reported revenue of $23.6 billion for fiscal 2016, the year ended 25 September 2016, down 6.8% on the year before. Net income was $5.7 billion, up 8.2%, and diluted earnings per share $3.81. The figures are the company's own, from the 10-K it filed with the SEC on 2 November 2016.
Revenue
$23.6 billion
-6.8% on the year
FY2009FY2016
Operating margin
27.6%
22.8% a year earlier
FY2009FY2016
Net income
$5.7 billion
+8.2% on the year
FY2009FY2016
Diluted EPS
$3.81
+18.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
23,554
25,281
26,487
-6.8%
Cost of revenue
9,749
10,378
10,686
-6.1%
Gross profit
13,805
14,903
15,801
-7.4%
Gross margin
58.6%
58.9%
59.7%
Research and development
5,151
5,490
5,477
-6.2%
Selling, general and administrative
2,385
2,344
2,290
+1.7%
Operating income
6,495
5,776
7,550
+12.4%
Operating margin
27.6%
22.8%
28.5%
Interest expense
297
104
5.0
+185.6%
Pre-tax income
6,833
6,487
8,778
+5.3%
Income tax
1,131
1,219
1,244
-7.2%
Effective tax rate
16.6%
18.8%
14.2%
Net income
5,705
5,271
7,967
+8.2%
Net margin
24.2%
20.8%
30.1%
Diluted EPS
$3.81
$3.22
$4.65
+18.3%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
7,632
5,506
8,887
+38.6%
Capital expenditure
539
994
1,185
-45.8%
Free cash flow
7,093
4,512
7,702
+57.2%
Free cash flow margin
30.1%
17.8%
29.1%
Cash from investing
-3,488
-3,572
-1,639
Cash from financing
-5,754
-2,261
-5,480
Depreciation and amortisation
1,428
1,214
1,150
+17.6%
Share-based compensation
943
1,026
1,059
-8.1%
Buybacks
3,923
11,246
4,549
-65.1%
Dividends paid
2,990
2,880
2,586
+3.8%
Dividend per share
$2.02
$1.80
$1.54
+12.2%
Diluted shares, weighted
1,498m
1,639m
1,714m
-8.6%
Shares outstanding at period end
1,476m
1,524m
1,669m
-3.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
31,778
31,421
39,169
+1.1%
Non-controlling interest
-10.0
-7.0
-3.0
Short-term borrowings
n/a
n/a
0.0
Debt
11,757
10,969
0.0
+7.2%
Other liabilities
8,834
8,413
9,408
+5.0%
Total liabilities and equity
52,359
50,796
48,574
+3.1%
Fixed assets
2,306
2,534
2,487
-9.0%
Goodwill
5,679
5,479
4,488
+3.7%
Intangible assets
3,500
3,742
2,580
-6.5%
Investments
26,404
23,387
24,115
+12.9%
Trading assets
0.0
0.0
511
Cash and equivalents
5,946
7,560
7,907
-21.3%
Receivables
2,194
1,941
2,362
+13.0%
Inventory
1,556
1,492
1,458
+4.3%
Other assets
4,774
4,661
2,666
+2.4%
Total assets
52,359
50,796
48,574
+3.1%
10-K for the year ended 25 September 2016, filed 2 November 2016: the filing.