Qualcomm (QCOM) FY2023 results: revenue $35.8 billion, down 19.0% on the year
Qualcomm Inc. (QCOM) reported revenue of $35.8 billion for fiscal 2023, the year ended 24 September 2023, down 19.0% on the year before. Net income was $7.2 billion, down 44.1%, and diluted earnings per share $6.42. The figures are the company's own, from the 10-K it filed with the SEC on 1 November 2023.
Revenue
$35.8 billion
-19.0% on the year
FY2016FY2023
Operating margin
21.7%
35.9% a year earlier
FY2016FY2023
Net income
$7.2 billion
-44.1% on the year
FY2016FY2023
Diluted EPS
$6.42
-43.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
11,299
9,096
10,536
+24.2%
Capital expenditure
1,450
2,262
1,888
-35.9%
Free cash flow
9,849
6,834
8,648
+44.1%
Free cash flow margin
27.5%
15.5%
25.8%
Cash from investing
762
-5,804
-3,356
Cash from financing
-6,663
-7,196
-6,798
Depreciation and amortisation
1,809
1,762
1,582
+2.7%
Share-based compensation
2,484
2,031
1,663
+22.3%
Buybacks
2,973
3,129
3,366
-5.0%
Dividends paid
3,462
3,212
3,008
+7.8%
Dividend per share
$3.10
$2.86
$2.66
+8.4%
Diluted shares, weighted
1,126m
1,137m
1,149m
-1.0%
Shares outstanding at period end
1,114m
1,121m
1,125m
-0.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
21,581
18,013
9,950
+19.8%
Debt
15,398
15,482
15,745
-0.5%
Operating lease liabilities
571
573
428
-0.3%
Other liabilities
13,490
14,946
15,117
-9.7%
Total liabilities and equity
51,040
49,014
41,240
+4.1%
Fixed assets
5,042
5,168
4,559
-2.4%
Goodwill
10,642
10,508
7,246
+1.3%
Intangible assets
1,408
1,882
1,458
-25.2%
Investments
2,874
3,609
5,298
-20.4%
Cash and equivalents
8,450
2,773
7,116
+204.7%
Receivables
1,923
4,175
2,214
-53.9%
Inventory
6,422
6,341
3,228
+1.3%
Other assets
14,279
14,558
10,121
-1.9%
Total assets
51,040
49,014
41,240
+4.1%
10-K for the year ended 24 September 2023, filed 1 November 2023: the filing.