Qualcomm (QCOM) FY2019 results: revenue $24.3 billion, up 7.4% on the year
Qualcomm Inc. (QCOM) reported revenue of $24.3 billion for fiscal 2019, the year ended 29 September 2019, up 7.4% on the year before. Net income was $4.4 billion, and diluted earnings per share $3.59. The figures are the company's own, from the 10-K it filed with the SEC on 6 November 2019.
Revenue
$24.3 billion
+7.4% on the year
FY2012FY2019
Operating margin
31.6%
2.7% a year earlier
FY2012FY2019
Net income
$4.4 billion
FY2012FY2019
Diluted EPS
$3.59
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
24,273
22,611
22,291
+7.4%
Cost of revenue
8,599
10,244
9,792
-16.1%
Gross profit
15,674
12,367
12,499
+26.7%
Gross margin
64.6%
54.7%
56.1%
Research and development
5,398
5,625
5,485
-4.0%
Selling, general and administrative
2,195
2,986
2,658
-26.5%
Operating income
7,667
621
2,581
+1,134.6%
Operating margin
31.6%
2.7%
11.6%
Interest expense
627
768
494
-18.4%
Pre-tax income
7,481
392
2,987
+1,808.4%
Income tax
3,095
5,356
543
-42.2%
Effective tax rate
41.4%
1366.3%
18.2%
Net income
4,386
-4,964
2,445
Net margin
18.1%
-22.0%
11.0%
Diluted EPS
$3.59
-$3.39
$1.64
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
7,286
3,908
5,001
+86.4%
Capital expenditure
887
784
690
+13.1%
Free cash flow
6,399
3,124
4,311
+104.8%
Free cash flow margin
26.4%
13.8%
19.3%
Cash from investing
-806
2,381
20,463
Cash from financing
-6,386
-31,487
5,571
Depreciation and amortisation
1,401
1,561
1,461
-10.2%
Share-based compensation
1,037
883
914
+17.4%
Buybacks
1,793
22,580
1,342
-92.1%
Dividends paid
2,968
3,466
3,252
-14.4%
Dividend per share
$2.48
$2.38
$2.20
+4.2%
Diluted shares, weighted
1,220m
1,463m
1,490m
-16.6%
Shares outstanding at period end
1,145m
1,219m
1,474m
-6.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
4,909
807
30,746
+508.3%
Non-controlling interest
n/a
n/a
0.0
Debt
15,933
16,370
21,893
-2.7%
Other liabilities
12,115
15,509
12,847
-21.9%
Total liabilities and equity
32,957
32,686
65,486
+0.8%
Fixed assets
3,081
2,975
3,216
+3.6%
Goodwill
6,282
6,498
6,623
-3.3%
Intangible assets
2,172
2,955
3,737
-26.5%
Investments
457
346
3,549
+32.1%
Cash and equivalents
11,839
11,777
35,029
+0.5%
Receivables
1,046
2,667
3,576
-60.8%
Inventory
1,400
1,693
2,035
-17.3%
Other assets
6,680
3,775
7,721
+77.0%
Total assets
32,957
32,686
65,486
+0.8%
10-K for the year ended 29 September 2019, filed 6 November 2019: the filing.