Qualcomm (QCOM) FY2017 results: revenue $22.3 billion, down 5.4% on the year
Qualcomm Inc. (QCOM) reported revenue of $22.3 billion for fiscal 2017, the year ended 24 September 2017, down 5.4% on the year before. Net income was $2.4 billion, down 57.1%, and diluted earnings per share $1.64. The figures are the company's own, from the 10-K it filed with the SEC on 1 November 2017.
Revenue
$22.3 billion
-5.4% on the year
FY2010FY2017
Operating margin
11.6%
27.6% a year earlier
FY2010FY2017
Net income
$2.4 billion
-57.1% on the year
FY2010FY2017
Diluted EPS
$1.64
-57.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
22,291
23,554
25,281
-5.4%
Cost of revenue
9,792
9,749
10,378
+0.4%
Gross profit
12,499
13,805
14,903
-9.5%
Gross margin
56.1%
58.6%
58.9%
Research and development
5,485
5,151
5,490
+6.5%
Selling, general and administrative
2,658
2,385
2,344
+11.4%
Operating income
2,581
6,495
5,776
-60.3%
Operating margin
11.6%
27.6%
22.8%
Interest expense
494
297
104
+66.3%
Pre-tax income
2,987
6,833
6,487
-56.3%
Income tax
543
1,131
1,219
-52.0%
Effective tax rate
18.2%
16.6%
18.8%
Net income
2,445
5,705
5,271
-57.1%
Net margin
11.0%
24.2%
20.8%
Diluted EPS
$1.64
$3.81
$3.22
-57.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
5,001
7,632
5,506
-34.5%
Capital expenditure
690
539
994
+28.0%
Free cash flow
4,311
7,093
4,512
-39.2%
Free cash flow margin
19.3%
30.1%
17.8%
Cash from investing
20,463
-3,488
-3,572
Cash from financing
5,571
-5,754
-2,261
Depreciation and amortisation
1,461
1,428
1,214
+2.3%
Share-based compensation
914
943
1,026
-3.1%
Buybacks
1,342
3,923
11,246
-65.8%
Dividends paid
3,252
2,990
2,880
+8.8%
Dividend per share
$2.20
$2.02
$1.80
+8.9%
Diluted shares, weighted
1,490m
1,498m
1,639m
-0.5%
Shares outstanding at period end
1,474m
1,476m
1,524m
-0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
30,746
31,778
31,421
-3.2%
Non-controlling interest
0.0
-10.0
-7.0
Debt
21,893
11,757
10,969
+86.2%
Other liabilities
12,847
8,834
8,413
+45.4%
Total liabilities and equity
65,486
52,359
50,796
+25.1%
Fixed assets
3,216
2,306
2,534
+39.5%
Goodwill
6,623
5,679
5,479
+16.6%
Intangible assets
3,737
3,500
3,742
+6.8%
Investments
3,549
26,404
23,387
-86.6%
Trading assets
n/a
0.0
0.0
Cash and equivalents
35,029
5,946
7,560
+489.1%
Receivables
3,576
2,194
1,941
+63.0%
Inventory
2,035
1,556
1,492
+30.8%
Other assets
7,721
4,774
4,661
+61.7%
Total assets
65,486
52,359
50,796
+25.1%
10-K for the year ended 24 September 2017, filed 1 November 2017: the filing.