QCOM QUALCOMM Incorporated - Common Stock

NASDAQ · Semiconductors · SEC EDGAR で表示 ↗
$198.11
株価 · 5月 20, 2026
ファンダメンタルズ（時点） 4月 29, 2026
52週レンジ
$122–$248
60% of range
アナリスト評価
HOLD
48 analysts
目標株価
$176
P/E (TTM)
33.8
ROE
22.7%
純利益率
12.5%

QCOM 株価スナップショット 価格、時価総額、P/E、EPS、ROE、負債/資本、52週レンジ

株価
$198.11
時価総額
$181.72B
P/E (TTM)
33.8
EPS（TTM）
$5.01
収益（TTM）
$44.28B
配当利回り
—
ROE
22.7%
負債/自己資本
0.7
52週レンジ
$122 – $248

QCOM 株価チャート 技術指標付きの日次 OHLCV — パン、ズーム、ビューのカスタマイズ

10年間のパフォーマンス 収益、純利益、利益率、EPSのトレンド

収益と純利益 $44.28B
10-point trend, +88.0%
2016-09-25 → 2025-09-28
EPS $5.01
10-point trend, +31.5%
2016-09-25 → 2025-09-28
フリーキャッシュフロー $12.82B
10-point trend, +86.9%
2016-09-25 → 2025-09-28
利益率 12.5%

バリュエーション P/E、P/S、P/B、EV/EBITDA比率 — 株は割高か割安か？

指標
5年トレンド
QCOM
競合中央値
P/E (TTM)
5-point trend, +98.5%
33.8
33.1
P/S (TTM) (株価売上高倍率（TTM）)
5-point trend, -8.5%
4.1
9.2
P/B (株価純資産倍率)
5-point trend, -43.4%
8.6
5.5
EV / EBITDA (EV/EBITDA)
5-point trend, -1.0%
13.4
—
Price / FCF (株価FCF倍率)
5-point trend, -18.6%
14.2
—

収益性 粗利益率、営業利益率、純利益率、ROE、ROA、ROIC

指標
5年トレンド
QCOM
競合中央値
Operating Margin (営業利益率)
5-point trend, -4.3%
27.9%
—
Net Profit Margin (純利益率)
5-point trend, -53.6%
12.5%
25.6%
ROA
5-point trend, -55.3%
10.5%
11.1%
ROE
5-point trend, -77.3%
22.7%
19.9%
ROIC
5-point trend, -56.1%
15.0%
—

財務健全性 負債、流動性、支払能力 — バランスシートの健全性

指標
5年トレンド
QCOM
競合中央値
Debt / Equity (負債資本倍率)
5-point trend, -54.4%
0.7
31.8
Current Ratio (流動比率)
5-point trend, +67.7%
2.8
2.4
Quick Ratio (クイックレシオ)
5-point trend, +16.2%
1.4
—

成長 収益、EPS、純利益の成長率：前年比、3年CAGR、5年CAGR

指標
5年トレンド
QCOM
競合中央値
Revenue YoY (収益（前年比）)
5-point trend, +31.9%
13.7%
—
Revenue CAGR 3Y (収益（3年CAGR）)
5-point trend, +31.9%
0.06%
—
Revenue CAGR 5Y (収益（5年CAGR）)
5-point trend, +31.9%
13.5%
—
EPS YoY
5-point trend, -36.3%
-44.1%
—
Net Income YoY (純利益（前年比）)
5-point trend, -38.7%
-45.4%
—

株当たり指標 EPS、一株当たり純資産、一株当たりキャッシュフロー、一株当たり配当

指標
5年トレンド
QCOM
競合中央値
EPS (Diluted) (EPS（希薄化後）)
5-point trend, -36.3%
$5.01
—

資本効率 総資産回転率、棚卸資産回転率、売掛金回転率

指標
5年トレンド
QCOM
競合中央値

配当金 利回り、配当性向、配当履歴、5年CAGR

配当利回り
—
配当性向
—
5年配当CAGR
—
権利落ち日金額
2026年3月5日$0.8900
2025年12月4日$0.8900
2025年9月4日$0.8900
2025年6月5日$0.8900
2025年3月6日$0.8500
2024年12月5日$0.8500
2024年9月5日$0.8500
2024年5月30日$0.8500
2024年2月28日$0.8000
2023年11月29日$0.8000
2023年8月30日$0.8000
2023年5月31日$0.8000
2023年3月1日$0.7500
2022年11月30日$0.7500
2022年8月31日$0.7500
2022年6月1日$0.7500
2022年3月2日$0.6800
2021年12月1日$0.6800
2021年9月1日$0.6800
2021年6月2日$0.6800

QCOM アナリストコンセンサス 強気・弱気のアナリストの見解、12ヶ月の目標株価、アップサイド

保有 48 アナリスト
  • 強い買い 5 10.4%
  • 買い 13 27.1%
  • 保有 26 54.2%
  • 売り 4 8.3%
  • 強い売り 0 0.0%

12ヶ月目標株価

31 アナリスト · 2026-05-18
中央値ターゲット $160.00 -19.2%
平均値ターゲット $175.97 -11.2%

決算履歴 EPS実績 vs 予想、サプライズ%、達成率、次回決算日

平均サプライズ
0.02%
期間 EPS Actual EPS 予想 サプライズ
2026年3月31日 $2.65 $2.61 0.04%
2025年12月31日 $3.50 $3.48 0.02%
2025年9月30日 $3.00 $2.93 0.07%
2025年6月30日 $2.77 $2.77 0.00%
2025年3月31日 $2.85 $2.88 -0.03%

ピア比較 主要メトリクスとセクターピアの比較

ティッカー 時価総額 P/E 売上高 YoY 純利益率 ROE 粗利益率
QCOM $181.72B 33.8 13.7% 12.5% 22.7% —
AVGO $1.75T 77.5 23.9% 36.2% 30.7% 67.8%
MU $136.88B 16.1 48.9% 22.8% 16.6% 39.8%
AMD — 81.1 34.3% — — —
INTC $180.78B -603.3 -0.47% -0.51% -0.25% 34.8%
TXN — 31.8 13.1% 28.3% 30.1% 57.0%
ADI $114.64B 51.3 16.9% 20.6% 6.6% 61.5%
MRVL $68.75B 26.4 42.1% 32.6% 19.3% 51.0%
MPWR $44.15B 70.5 26.4% 22.3% 18.0% 55.2%
MCHP $26.08B -4841.0 -42.4% -0.01% -0.01% 56.1%

完全なファンダメンタルズ 年次別全指標 — 損益計算書、貸借対照表、キャッシュフロー

損益計算書 16
QCOMの年次損益計算書データ
指標 トレンド 202520242023202220212020201920182017201620152014
Revenue 12-point trend, +67.2% $44.28B $38.96B $35.82B $44.20B $33.57B $23.53B $24.27B $22.61B $22.26B $23.55B $25.28B $26.49B
Cost of Revenue 12-point trend, +84.7% $19.74B $17.06B $15.87B $18.64B $14.26B $9.26B $8.60B $10.24B $9.79B $9.75B $10.38B $10.69B
R&D Expense 12-point trend, +65.1% $9.04B $8.89B $8.82B $8.19B $7.18B $5.97B $5.40B $5.62B $5.49B $5.15B $5.49B $5.48B
SG&A Expense 12-point trend, +35.8% $3.11B $2.76B $2.48B $2.57B $2.34B $2.07B $2.19B $2.99B $2.66B $2.38B $2.34B $2.29B
Operating Expenses 12-point trend, +68.6% $31.93B $28.89B $28.03B $28.34B $23.78B $17.28B $16.61B $21.99B $19.68B $17.06B $19.50B $18.94B
Operating Income 12-point trend, +63.6% $12.36B $10.07B $7.79B $15.86B $9.79B $6.25B $7.67B $621M $2.58B $6.50B $5.78B $7.55B
Interest Expense 12-point trend, +13180.0% $664M $697M $694M $490M $559M $602M $627M $768M $494M $297M $104M $5M
Other Non-op 5-point trend, +163.6% $21M $-21M $-14M $-25M $-33M · · · · · · ·
Pretax Income 12-point trend, +44.3% $12.66B $10.34B $7.44B $15.00B $10.27B $5.72B $7.48B $392M $2.99B $6.83B $6.49B $8.78B
Income Tax 12-point trend, +472.5% $7.12B $226M $104M $2.01B $1.23B $521M $3.10B $5.36B $543M $1.13B $1.22B $1.24B
Net Income 12-point trend, -30.5% $5.54B $10.14B $7.23B $12.94B $9.04B $5.20B $4.39B $-4.96B $2.44B $5.71B $5.27B $7.97B
EPS (Basic) 12-point trend, +6.8% $5.05 $9.09 $6.47 $11.52 $7.99 $4.58 $3.63 $-3.39 $1.66 $3.84 $3.26 $4.73
EPS (Diluted) 12-point trend, +7.7% $5.01 $8.97 $6.42 $11.37 $7.87 $4.52 $3.59 $-3.39 $1.64 $3.81 $3.22 $4.65
Shares (Basic) 12-point trend, -34.9% 1,096,000,000 1,116,000,000 1,117,000,000 1,123,000,000 1,131,000,000 1,135,000,000 1,210,000,000 1,463,000,000 1,477,000,000 1,484,000,000 1,618,000,000 1,683,000,000
Shares (Diluted) 12-point trend, -35.5% 1,105,000,000 1,130,000,000 1,126,000,000 1,137,000,000 1,149,000,000 1,149,000,000 1,220,000,000 1,463,000,000 1,490,000,000 1,498,000,000 1,639,000,000 1,714,000,000
EBITDA 12-point trend, +84.9% $13.96B $11.78B $9.60B $17.62B $11.37B $7.65B $9.07B $2.30B $4.08B $7.92B $5.78B $7.55B
貸借対照表 27
QCOMの年次貸借対照表データ
指標 トレンド 202520242023202220212020201920182017201620152014
Cash & Equivalents 12-point trend, -30.2% $5.52B $7.85B $8.45B $2.77B $7.12B $6.71B $11.84B $11.78B $35.03B $5.95B $7.56B $7.91B
Short-term Investments 12-point trend, -52.0% $4.63B $5.45B $2.87B $3.61B $5.30B $4.51B $421M $311M $2.28B $12.70B $9.76B $9.66B
Receivables 12-point trend, +20.9% $2.85B $2.35B $1.92B $4.17B $2.21B $2.69B $1.05B $2.67B $3.58B $2.19B $1.94B $2.36B
Inventory 12-point trend, +347.6% $6.53B $6.42B $6.42B $6.34B $3.23B $2.60B $1.40B $1.69B $2.04B $1.56B $1.49B $1.46B
Other Current Assets 12-point trend, +507.2% $2.44B $1.58B $1.19B $1.62B $854M $704M $634M $699M $618M $558M $687M $401M
Current Assets 12-point trend, +14.9% $25.75B $25.23B $22.46B $20.72B $20.07B $18.52B $16.77B $17.38B $43.59B $22.98B $22.10B $22.41B
PP&E (Net) 12-point trend, +88.6% $4.69B $4.67B $5.04B $5.17B $4.56B $3.71B $3.08B $2.98B $3.22B $2.31B $2.53B $2.49B
PP&E (Gross) 12-point trend, +155.4% $14.50B $13.54B $12.71B $11.77B $10.45B $8.85B $7.65B $7.46B $7.42B $6.04B $5.89B $5.68B
Accum. Depreciation 12-point trend, +207.4% $9.81B $8.88B $7.67B $6.60B $5.89B $5.13B $4.57B $4.49B $4.20B $3.73B $3.36B $3.19B
Goodwill 12-point trend, +153.1% $11.36B $10.80B $10.64B $10.51B $7.25B $6.32B $6.28B $6.50B $6.62B $5.68B $5.48B $4.49B
Intangibles 12-point trend, -55.5% $1.15B $1.24B $1.41B $1.88B $1.46B $1.65B $2.17B $2.96B $3.74B $3.50B $3.74B $2.58B
Other Non-current Assets 12-point trend, +561.5% $6.45B $8.05B $8.09B $7.73B $6.31B $4.04B $3.46B $1.97B $4.15B $2.16B $1.86B $975M
Total Assets 12-point trend, +3.2% $50.14B $55.15B $51.04B $49.01B $41.24B $35.59B $32.96B $32.72B $65.50B $52.36B $50.80B $48.57B
Accounts Payable 12-point trend, +27.9% $2.79B $2.58B $1.91B $3.80B $2.75B $2.25B $1.37B $1.82B $1.97B $1.86B $1.30B $2.18B
Short-term Debt 6-point trend, +500000000.00 · · · · $500M $500M $499M · · $0 $1.00B $0
Current Liabilities 12-point trend, +52.1% $9.14B $10.50B $9.63B $11.87B $11.95B $8.67B $8.94B $11.39B $10.94B $7.31B $6.10B $6.01B
Capital Leases 6-point trend, +96.8% $730M $708M $571M $573M $428M $371M · · · · · ·
Deferred Tax 6-point trend, +1616.7% · · · · · · $103M $291M $233M $169M $270M $6M
Other Non-current Liabilities 5-point trend, +186.2% · · · · · · · $1.23B $2.43B $895M $817M $428M
Total Liabilities 12-point trend, +207.6% $28.94B $28.88B $29.46B $31.00B $31.29B $29.52B $28.05B $31.91B $34.77B $20.59B $19.38B $9.41B
Long-term Debt 12-point trend, +14811000000.00 $14.81B $13.27B $14.48B $13.54B $13.70B $15.23B $13.44B $15.37B $19.40B $10.01B $9.97B $0
Total Debt 11-point trend, +1381.1% $14.81B $14.63B $15.40B $14.98B $15.24B $15.23B $15.43B $0 $1.50B $1.75B $1.00B ·
Retained Earnings 12-point trend, -33.0% $20.65B $25.69B $20.73B $17.84B $9.82B $5.28B $4.47B $542M $30.07B $30.94B $31.23B $30.80B
AOCI 12-point trend, -11.7% $560M $587M $358M $-22M $128M $207M $100M $265M $384M $428M $195M $634M
Stockholders' Equity 12-point trend, -45.9% $21.21B $26.27B $21.58B $18.01B $9.95B $6.08B $4.91B $807M $30.73B $31.77B $31.41B $39.17B
Liabilities + Equity 12-point trend, +3.2% $50.14B $55.15B $51.04B $49.01B $41.24B $35.59B $32.96B $32.72B $65.50B $52.36B $50.80B $48.57B
Shares Outstanding 12-point trend, -35.7% 1,074,000,000 1,113,000,000 1,114,000,000 1,121,000,000 1,125,000,000 1,131,000,000 1,145,000,000 1,219,000,000 1,474,000,000 1,476,000,000 1,524,000,000 1,669,000,000
キャッシュフロー 19
QCOMの年次キャッシュフローデータ
指標 トレンド 202520242023202220212020201920182017201620152014
D&A 12-point trend, +39.3% $1.60B $1.71B $1.81B $1.76B $1.58B $1.39B $1.40B $1.56B $1.46B $1.43B $1.21B $1.15B
Stock-based Comp 12-point trend, +162.8% $2.78B $2.65B $2.48B $2.03B $1.66B $1.21B $1.04B $883M $914M $943M $1.03B $1.06B
Deferred Tax 12-point trend, +8344.4% $4.45B $-1.89B $-1.63B $-9M $-237M $-216M $1.94B $2.02B $-788M $-288M $-25M $-54M
Amort. of Intangibles 12-point trend, -40.9% $321M $311M $418M $482M $537M $621M $727M $785M $777M $804M $591M $543M
Restructuring 7-point trend, -77.1% $39M $107M $712M · · · $62M $353M · $159M $170M ·
Other Non-cash 10-point trend, +5.7% $-366M $-406M $1.40B $-7.62B $-1.51B $-1.77B $-1.48B $4.27B $628M $-388M · ·
Operating Cash Flow 12-point trend, +57.7% $14.01B $12.20B $11.30B $9.10B $10.54B $5.81B $7.29B $3.91B $5.00B $7.63B $5.51B $8.89B
CapEx 12-point trend, +0.6% $1.19B $1.04B $1.45B $2.26B $1.89B $1.41B $887M $784M $690M $539M $994M $1.19B
Investing Cash Flow 12-point trend, +51.2% $-800M $-3.62B $762M $-5.80B $-3.36B $-5.26B $-806M $2.38B $20.46B $-3.49B $-3.57B $-1.64B
Debt Issued 12-point trend, +1487000000.00 $1.49B $0 $1.88B $1.48B $0 $1.99B $0 $0 $10.95B $0 $9.94B $0
Net Debt Issued 11-point trend, -85.0% $1.49B $0 $1.88B $-63M $0 $-231M $0 $-5.50B $10.95B $0 $9.94B ·
Stock Issued 12-point trend, -71.9% $404M $383M $434M $356M $347M $329M $414M $603M $497M $668M $787M $1.44B
Stock Repurchased 12-point trend, +93.3% $8.79B $4.12B $2.97B $3.13B $3.37B $2.45B $1.79B $22.58B $1.34B $3.92B $11.25B $4.55B
Net Stock Activity 12-point trend, -169.7% $-8.39B $-3.74B $-2.54B $-2.77B $-3.02B $-2.12B $-1.38B $-21.98B $-845M $-3.25B $-10.46B $-3.11B
Financing Cash Flow 12-point trend, -140.8% $-13.20B $-9.27B $-6.66B $-7.20B $-6.80B $-5.71B $-6.39B $-31.50B $5.57B $-5.75B $-2.26B $-5.48B
Net Change in Cash 12-point trend, -100.3% $-6M $-678M $5.43B $-4.02B $409M $-5.13B $62M $-25.25B $31.08B $-1.61B $-347M $1.76B
Taxes Paid 12-point trend, +158.3% $3.10B $3.30B $1.40B $2.10B $1.50B $800M $1.10B $877M $1.00B $1.30B $1.20B $1.20B
Free Cash Flow 12-point trend, +66.5% $12.82B $11.16B $9.85B $6.83B $8.65B $4.41B $6.40B $3.11B $4.00B $6.86B $4.51B $7.70B
Levered FCF 12-point trend, +62.8% $12.53B $10.48B $9.16B $6.41B $8.16B $3.86B $6.03B $10.39B $3.60B $6.61B $4.43B $7.70B
収益性 7
QCOMの年次収益性データ
指標 トレンド 202520242023202220212020201920182017201620152014
Operating Margin 12-point trend, -2.1% 27.9% 25.9% 21.7% 35.9% 29.2% 26.6% 31.6% 3.3% 11.7% 27.6% 22.9% 28.5%
Net Margin 12-point trend, -58.4% 12.5% 26.0% 20.2% 29.3% 26.9% 22.1% 18.1% -21.4% 11.1% 24.2% 20.8% 30.1%
Pretax Margin 12-point trend, -13.7% 28.6% 26.5% 20.8% 33.9% 30.6% 24.3% 30.8% 2.3% 13.6% 29.0% 25.7% 33.1%
EBITDA Margin 12-point trend, +10.6% 31.5% 30.2% 26.8% 39.9% 33.9% 32.5% 37.4% 10.1% 18.3% 33.6% 22.9% 28.5%
ROA 12-point trend, -37.9% 10.5% 19.1% 14.5% 28.7% 23.5% 15.2% 13.4% -9.9% 4.2% 11.1% 10.6% 16.9%
ROE 12-point trend, +7.0% 22.7% 39.8% 34.2% 76.0% 99.8% 110.8% 84.6% -40.7% 7.9% 18.1% 14.9% 21.2%
ROIC 12-point trend, -9.3% 15.0% 24.1% 20.8% 41.6% 34.2% 26.7% 22.1% -758.1% 6.6% 16.2% 14.5% 16.5%
流動性と支払能力 5
QCOMの年次流動性と支払能力データ
指標 トレンド 202520242023202220212020201920182017201620152014
Current Ratio 12-point trend, -24.4% 2.8 2.4 2.3 1.7 1.7 2.1 1.9 1.5 4.0 3.1 3.6 3.7
Quick Ratio 12-point trend, -51.3% 1.4 1.5 1.4 0.9 1.2 1.6 1.5 1.3 3.7 2.9 3.2 2.9
Debt / Equity 11-point trend, +2096.2% 0.7 0.6 0.7 0.8 1.5 2.5 3.1 0.0 0.0 0.1 0.0 ·
LT Debt / Equity 7-point trend, -74.5% 0.7 0.5 0.7 0.8 1.4 2.5 2.7 · · · · ·
Interest Coverage 12-point trend, -98.8% 18.6 14.4 11.2 32.4 17.5 10.4 12.2 1.0 5.3 21.9 55.5 1510.0
効率性 3
QCOMの年次効率性データ
指標 トレンド 202520242023202220212020201920182017201620152014
Asset Turnover 12-point trend, +49.4% 0.8 0.7 0.7 1.0 0.9 0.7 0.7 0.5 0.4 0.5 0.5 0.6
Inventory Turnover 12-point trend, -60.6% 3.0 2.7 2.5 3.9 4.9 4.6 5.6 5.5 5.5 6.4 7.0 7.7
Receivables Turnover 11-point trend, +44.9% 17.0 18.2 11.7 13.8 13.7 12.6 13.1 7.1 7.7 11.4 11.8 ·
1株あたり 6
QCOMの年次1株あたりデータ
指標 トレンド 202520242023202220212020201920182017201620152014
Book Value / Share 12-point trend, -15.9% $19.74 $23.61 $19.37 $16.07 $8.84 $5.37 $4.29 $0.76 $20.86 $21.53 $20.62 $23.47
Revenue / Share 12-point trend, +159.3% $40.08 $34.48 $31.81 $38.87 $29.21 $20.48 $19.90 $15.54 $14.96 $15.72 $15.42 $15.45
Cash Flow / Share 12-point trend, +144.6% $12.68 $10.80 $10.03 $8.00 $9.17 $5.06 $5.97 $2.66 $3.15 $4.94 $3.36 $5.18
Cash / Share 12-point trend, +8.5% $5.14 $7.05 $7.59 $2.47 $6.33 $5.93 $10.34 $9.66 $23.76 $4.03 $4.96 $4.74
Dividend / Share 12-point trend, +126.0% $3 $3 $3 $3 $3 $3 $2 $2 $2 $2 $2 $2
EPS (TTM) 12-point trend, +7.7% $5.01 $8.97 $6.42 $11.37 $7.87 $4.52 $3.59 $-3.39 $1.64 $3.81 $3.22 $4.65
成長率 9
QCOMの年次成長率データ
指標 トレンド 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, -68.0% 13.7% 8.8% -19.0% 31.7% 42.6% · · · · · · ·
Revenue CAGR 3Y 3-point trend, -99.6% 0.06% 5.1% 15.0% · · · · · · · · ·
Revenue CAGR 5Y 13.5% · · · · · · · · · · ·
EPS YoY 5-point trend, -159.6% -44.1% 39.7% -43.5% 44.5% 74.1% · · · · · · ·
EPS CAGR 3Y 3-point trend, -292.6% -23.9% 4.5% 12.4% · · · · · · · · ·
EPS CAGR 5Y 2.1% · · · · · · · · · · ·
Net Income YoY 5-point trend, -161.3% -45.4% 40.2% -44.1% 43.0% 74.0% · · · · · · ·
Net Income CAGR 3Y 3-point trend, -311.5% -24.6% 3.9% 11.6% · · · · · · · · ·
Net Income CAGR 5Y 1.3% · · · · · · · · · · ·
バリュエーション（TTM） 14
QCOMの年次バリュエーション（TTM）データ
指標 トレンド 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +67.2% $44.28B $38.96B $35.82B $44.20B $33.57B $23.53B $24.27B $22.61B $22.26B $23.55B $25.28B $26.49B
Net Income TTM 12-point trend, -30.5% $5.54B $10.14B $7.23B $12.94B $9.04B $5.20B $4.39B $-4.96B $2.44B $5.71B $5.27B $7.97B
Market Cap 12-point trend, +45.1% $181.72B $189.35B $119.96B $135.85B $150.62B $129.50B $87.74B $87.80B $76.78B $92.62B $81.11B $125.28B
Enterprise Value 11-point trend, +187.7% $186.38B $190.69B $124.03B $144.45B $153.45B $133.51B $90.92B $75.72B $40.97B $75.72B $64.79B ·
P/E 12-point trend, +109.2% 33.8 19.0 16.8 10.7 17.0 25.3 21.3 -21.2 31.8 16.5 16.5 16.1
P/S 12-point trend, -13.2% 4.1 4.9 3.3 3.1 4.5 5.5 3.6 3.9 3.4 3.9 3.2 4.7
P/B 12-point trend, +167.9% 8.6 7.2 5.6 7.5 15.1 21.3 17.9 94.6 2.5 2.9 2.6 3.2
P / Tangible Book 5-point trend, -82.7% 20.9 13.3 12.6 24.2 120.9 · · · · · · ·
P / Cash Flow 12-point trend, -8.0% 13.0 15.5 10.6 14.9 14.3 22.3 12.0 22.5 16.4 12.5 14.7 14.1
P / FCF 12-point trend, -12.9% 14.2 17.0 12.2 19.9 17.4 29.4 13.7 28.2 19.2 13.5 18.0 16.3
EV / EBITDA 11-point trend, +19.1% 13.4 16.2 12.9 8.2 13.5 17.5 10.0 32.9 10.1 9.6 11.2 ·
EV / FCF 11-point trend, +1.2% 14.5 17.1 12.6 21.1 17.7 30.3 14.2 24.3 10.2 11.0 14.4 ·
EV / Revenue 11-point trend, +64.2% 4.2 4.9 3.5 3.3 4.6 5.7 3.7 3.3 1.8 3.2 2.6 ·
Earnings Yield 12-point trend, -52.3% 3.0% 5.3% 6.0% 9.4% 5.9% 4.0% 4.7% -4.7% 3.1% 6.1% 6.0% 6.2%

財務諸表 損益計算書、貸借対照表、キャッシュフロー — 年次、過去5年間

損益計算書
2025-09-282024-09-292023-09-242022-09-252021-09-26
収益 $44.28B$38.96B$35.82B$44.20B$33.57B
営業利益率 % 27.9%25.9%21.7%35.9%29.2%
純利益 $5.54B$10.14B$7.23B$12.94B$9.04B
希薄化後EPS $5.01$8.97$6.42$11.37$7.87
貸借対照表
2025-09-282024-09-292023-09-242022-09-252021-09-26
負債資本倍率 0.70.60.70.81.5
流動比率 2.82.42.31.71.7
クイックレシオ 1.41.51.40.91.2
キャッシュフロー
2025-09-282024-09-292023-09-242022-09-252021-09-26
フリーキャッシュフロー $12.82B$11.16B$9.85B$6.83B$8.65B

QCOM AIアナリストパネル — 強気と弱気の視点 株の見通しに関する2026Q2討論：Claude、Grok、Gemini、ChatGPT

ラウンド1 — オープニングテイクス

Grok NEUTRAL 0.75
↑ 強気

I see Qualcomm surging in 2026Q2 if its Snapdragon AI chips capture exploding demand in smartphones and PCs. Gross margin stays flat at 55.43%, proving the company holds strong pricing power even as costs rise in the chip wars. Current ratio of 2.82 comfortably tops 1.0, ensuring liquidity to fund aggressive R&D without dilution risks. At 33 times trailing earnings, the P/E trades below the peer median, leaving room for expansion if EPS rebounds toward prior highs.

↓ 弱気

My read is Qualcomm crumbling if profitability keeps sliding amid competition and China trade risks. ROE has halved to 21.51%, signaling leverage and buybacks can't mask weakening returns on core operations. Debt-to-equity ratio climbed to 69.84, straining the balance sheet in a downturn and raising refinancing worries. EPS TTM dropped to $4.89 from double digits, highlighting vulnerability as handset demand softens.

Claude NEUTRAL 0.62
↑ 強気

Qualcomm's 55% gross margin and 21.5% ROE show a company with genuine pricing power in an oligopoly. The stock trades at 33 times trailing earnings, which is actually below the semiconductor peer median and reasonable for a business that converts equity into profit at rates most hardware players can't touch. Price action since May has stabilized around $150–162, suggesting the market has found a floor after earlier volatility. If smartphone demand holds and automotive chip adoption accelerates through 2026, this valuation compresses further.

↓ 弱気

The earnings collapse from 2025Q3 to 2026Q1 is the real story here. EPS fell from $10.37 to $4.89 — a 53% drop in six months. Net margin cratered from 26.8% to 12.5%, signaling either a demand cliff or a one-time charge that hasn't been explained. Seaport Research's March 22 downgrade to $100 (30% below current price) reflects analyst concern that's not priced in. Debt-to-equity jumped to 69.8 from 54.4 in one quarter, and current ratio fell to 2.8. That combination — collapsing earnings plus rising leverage — is a warning flag I can't ignore.

Gemini NEUTRAL 0.65
↑ 強気

Qualcomm remains a defensive anchor in the mobile space with enough cash flow to pivot toward higher-growth edge AI. The company maintains a current ratio of 2.81, which shows they have nearly three dollars in liquid assets for every dollar of short-term debt. That kind of balance sheet strength provides a massive safety net while they transition away from pure mobile dependency. Even with recent margin pressure, their 55.43% gross margin indicates they still command significant pricing power on their core chipsets. They aren't just a phone stock; they are the gatekeepers of wireless connectivity.

↓ 弱気

The fundamental engine at Qualcomm is stalling as the company struggles to maintain its historical profitability. Their return on equity has plummeted to 21.51%, which is a sharp decline from the 42.85% levels we saw just a few quarters ago. This drop suggests that the company is finding it increasingly difficult to generate efficient returns on the capital they are deploying. Furthermore, at a 33.06 trailing P/E, investors are paying a premium for a company whose earnings per share have stalled. If they cannot reignite growth, that valuation multiple is simply unsustainable.

Chatgpt NEUTRAL 0.62
↑ 強気

I think the strongest bullish case is that Qualcomm remains an IP-led growth engine with durable margins and a clear dividend path. Gross margin TTM: 55.43%. That level underpins earnings quality from its licensing business and Snapdragon demand. ROE TTM: 21.51%. That shows efficient use of equity and supports ongoing buybacks and cash returns to shareholders. P/E TTM: 33.06%. The market is pricing solid, multi-year growth; if 5G and auto licensing stay on track, the premium makes sense.

↓ 弱気

I think the strongest bearish case is that the stock is priced for perfection and faces margin pressure from licensing and rising leverage. EPS TTM: 4.89. Earnings have slipped, suggesting limited room for margin expansion. ROE TTM: 21.51%. This downtrend signals profitability pressure as leverage and buybacks distort prior highs. P/E TTM: 33.06. Valuation looks rich vs peers if growth disappoints or if capital returns plateau.

ラウンド2 — 回答と反論

Grok

Gemini, your bearish read on ROE plummeting to 21.51% ignores how it still crushes peers like AMD's 5.6%. That means Qualcomm generates returns on equity that leave chip rivals in the dust, even after the drop from 42.85%, preserving a competitive moat in licensing and chips. This supports holding through 2026Q2 if AI demand offsets handset weakness.

Claude

I need to push back on Gemini here. You're citing that 2.81 current ratio as a safety net, but you're missing what happened in one quarter: it fell from 3.19 to 2.81. That's a 12% drop in liquidity in ninety days. Yes, 2.81 is still above 1.0, but the velocity matters. If current ratio keeps contracting at that pace while debt-to-equity is climbing to 69.84, you don't have a safety net — you have a deteriorating one. The balance sheet strength story only holds if those trends reverse. Right now they're not.

Gemini

Claude, your point about the earnings collapse ignores the massive shift in Qualcomm's capital allocation strategy. You highlighted the EPS drop from $10.37 to $4.89, but that 53% decline is largely a reflection of the company leaning into heavy R&D for the AI transition rather than a simple demand cliff. A 2.81 current ratio tells us they have plenty of liquidity to fund this pivot without endangering the business. I agree the margin pressure is real, but betting against their ability to monetize that R&D in 2026 feels premature.

Chatgpt

Claude, your point about the earnings collapse is a real risk to watch. EPS TTM stands at 4.89. That indicates earnings power is not yet back to the double-digit levels we saw in 2025, so upside hinges on a rebound in licensing and AI-chip demand. Otherwise, the stock could remain range-bound despite a robust gross margin. That risk keeps the upside contingent on a revival in licensing.

ラウンド3 — 最終反論

G
Grok

Gemini, your claim that the 53% EPS drop to $4.89 reflects heavy R&D for AI overlooks the broader margin collapse with no supporting evidence in the data. Net margin TTM cratered to 12.51% from 26.77% in 2025Q3. For Qualcomm, that points to softer handset royalties and chip pricing, not a reversible investment — it's a demand signal Seaport Research flagged in their March 22 downgrade to $100. Without a clear catalyst, this keeps downside alive into 2026Q2.

C
Claude

I want to push back on Grok's ROE comparison to AMD. Yes, Qualcomm's 21.51% ROE beats AMD's 5.6%, but that comparison misses the real issue: Qualcomm's ROE collapsed from 42.85% to 21.51% in two quarters. That's not a moat — that's a deterioration signal. AMD's low ROE reflects a different business model; Qualcomm's plunge reflects margin compression on the same core business. The real question is whether that 21.51% stabilizes or keeps falling. Until we see evidence of stabilization in the next earnings print, I can't treat the peer comparison as reassuring. It's comparing two different trajectories, not two different companies.

G
Gemini

Grok, I have to disagree with your focus on the ROE comparison to AMD. Comparing Qualcomm’s 21.51% ROE to AMD’s 5.61% misses the fact that AMD is currently sacrificing margins for aggressive market share gains in data center GPUs, which is a fundamentally different growth cycle than Qualcomm’s mature mobile business. I am widening the frame to the real catalyst: customer concentration. Qualcomm relies heavily on a few top-tier handset OEMs, and with the recent push toward on-device AI, their pricing power depends entirely on whether these partners can successfully upsell premium AI-capable devices to consumers. If that refresh cycle stalls, Qualcomm’s revenue will hit a wall regardless of their balance sheet.

C
Chatgpt

Grok, your bullish call hinges on Snapdragon AI chips driving a 2026Q2 surge. My read is the timing and profitability aren't spelled out yet. EPS TTM is $4.89. That level of earnings power implies Qualcomm still has a long way to go to reclaim double-digit profitability, and AI-driven monetization may lag licensing and auto-chip revenue even if hardware demand improves. In short, a tempo-driven AI upgrade alone doesn’t guarantee a sharp near-term earnings spike for 2026Q2.

価格予測

モデル 3ヶ月目標 6ヶ月目標 理由
G Grok 3ヶ月目標 $162.00 6ヶ月目標 $170.00 理由 I think Qualcomm grinds higher to 162-170 through 2026Q2 as sticky 55% gross margins fund an AI pivot without eroding the balance sheet. The single catalyst is the late-July 2026 Q2 earnings print, where upward guidance on Snapdragon X Elite sales in PCs could confirm demand inflection and lift multiples. The key risk is renewed China trade tariffs materializing by Q2, crushing 35-40% of handset royalties and validating Seaport's $100 target. At 33 times $4.89 trailing EPS, the current 157 price assumes flat earnings—any AI beat justifies 170.
C Claude 3ヶ月目標 $142.00 6ヶ月目標 $155.00 理由 My thesis: Qualcomm stabilizes earnings in 2026Q2 but doesn't reignite growth, so the stock trades sideways to slightly lower before a modest recovery. The EPS collapse from $10.37 to $4.89 signals a demand reset, not a reversible R&D spend — Gemini's pivot narrative lacks evidence. Catalyst: 2026Q2 earnings print in late April shows stabilization (EPS holding above $4.50) and management guidance affirms AI monetization without raising full-year targets. Risk: Seaport's $100 target proves prescient if smartphone refresh stalls and licensing revenue contracts further. At 33 times trailing earnings on $4.89 EPS, the market is pricing a rebound that hasn't materialized yet. I'm holding my hold, but the 3-month target reflects downside risk from current $157.46 close as the market reprices for a slower 2026.
G Gemini 3ヶ月目標 $155.00 6ヶ月目標 $170.00 理由 My thesis is that Qualcomm will trade sideways until the market gains confidence in their AI-driven margin recovery. The primary catalyst for the 6-month target is the 2026Q3 earnings report, where we need to see a stabilization in net margins to prove the recent dip was an investment phase rather than a permanent loss of pricing power. The major risk is a further contraction in the current ratio, which would signal that liquidity is being drained faster than their R&D can generate returns. At a 33.06 trailing P/E, the market is currently paying a premium for a company whose earnings must now prove they can sustainably scale beyond mobile dependencies.
C Chatgpt 3ヶ月目標 $152.00 6ヶ月目標 $160.00 理由 I think Qualcomm is a cautious hold with limited near-term downside and potential for a modest re-rating if licensing and AI demand stabilize. Catalyst: the upcoming earnings print showing licensing monetization and AI chip demand maintaining revenue mix. Risk: a deeper licensing revenue pullback or debt pressure breaks the thesis. ROE around 21.5%. That means Qualcomm still turns equity into profits efficiently, supporting buybacks and cash returns even as margins come under pressure.

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