Qualcomm (QCOM) FY2018 results: revenue $22.6 billion, up 1.4% on the year
Qualcomm Inc. (QCOM) reported revenue of $22.6 billion for fiscal 2018, the year ended 30 September 2018, up 1.4% on the year before. Net income was -$5.0 billion, and diluted earnings per share $-3.39. The figures are the company's own, from the 10-K it filed with the SEC on 7 November 2018.
Revenue
$22.6 billion
+1.4% on the year
FY2011FY2018
Operating margin
2.7%
11.6% a year earlier
FY2011FY2018
Net income
-$5.0 billion
FY2011FY2018
Diluted EPS
-$3.39
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
22,611
22,291
23,554
+1.4%
Cost of revenue
10,244
9,792
9,749
+4.6%
Gross profit
12,367
12,499
13,805
-1.1%
Gross margin
54.7%
56.1%
58.6%
Research and development
5,625
5,485
5,151
+2.6%
Selling, general and administrative
2,986
2,658
2,385
+12.3%
Operating income
621
2,581
6,495
-75.9%
Operating margin
2.7%
11.6%
27.6%
Interest expense
768
494
297
+55.5%
Pre-tax income
392
2,987
6,833
-86.9%
Income tax
5,356
543
1,131
+886.4%
Effective tax rate
1366.3%
18.2%
16.6%
Net income
-4,964
2,445
5,705
Net margin
-22.0%
11.0%
24.2%
Diluted EPS
-$3.39
$1.64
$3.81
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
3,908
5,001
7,632
-21.9%
Capital expenditure
784
690
539
+13.6%
Free cash flow
3,124
4,311
7,093
-27.5%
Free cash flow margin
13.8%
19.3%
30.1%
Cash from investing
2,381
20,463
-3,488
-88.4%
Cash from financing
-31,487
5,571
-5,754
Depreciation and amortisation
1,561
1,461
1,428
+6.8%
Share-based compensation
883
914
943
-3.4%
Buybacks
22,580
1,342
3,923
+1,582.6%
Dividends paid
3,466
3,252
2,990
+6.6%
Dividend per share
$2.38
$2.20
$2.02
+8.2%
Diluted shares, weighted
1,463m
1,490m
1,498m
-1.8%
Shares outstanding at period end
1,219m
1,474m
1,476m
-17.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
807
30,746
31,778
-97.4%
Non-controlling interest
n/a
0.0
-10.0
Debt
16,370
21,893
11,757
-25.2%
Other liabilities
15,509
12,847
8,834
+20.7%
Total liabilities and equity
32,686
65,486
52,359
-50.1%
Fixed assets
2,975
3,216
2,306
-7.5%
Goodwill
6,498
6,623
5,679
-1.9%
Intangible assets
2,955
3,737
3,500
-20.9%
Investments
346
3,549
26,404
-90.3%
Trading assets
n/a
n/a
0.0
Cash and equivalents
11,777
35,029
5,946
-66.4%
Receivables
2,667
3,576
2,194
-25.4%
Inventory
1,693
2,035
1,556
-16.8%
Other assets
3,775
7,721
4,774
-51.1%
Total assets
32,686
65,486
52,359
-50.1%
10-K for the year ended 30 September 2018, filed 7 November 2018: the filing.