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Qualcomm (Qualcomm) Piotroski F-Score

: 6 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Qualcomm has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Qualcomm's Piotroski F-Score or its related term are showing as below:

QCOM' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Qualcomm was 8. The lowest was 3. And the median was 6.


Qualcomm Piotroski F-Score Historical Data

The historical data trend for Qualcomm's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Qualcomm Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 6.00 7.00 8.00 6.00

Qualcomm Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 4.00 6.00 6.00 6.00

Competitive Comparison

For the Semiconductors subindustry, Qualcomm's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Qualcomm Piotroski F-Score Distribution

For the Semiconductors industry and Technology sector, Qualcomm's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Qualcomm's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 1704 + 1803 + 1490 + 2767 = $7,764 Mil.
Cash Flow from Operations was 1457 + 2657 + 4090 + 2949 = $11,153 Mil.
Revenue was 9275 + 8451 + 8631 + 9935 = $36,292 Mil.
Gross Profit was 5122 + 4659 + 4751 + 5623 = $20,155 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(50014 + 48362 + 49002 + 51040 + 52135) / 5 = $50110.6 Mil.
Total Assets at the begining of this year (Dec22) was $50,014 Mil.
Long-Term Debt & Capital Lease Obligation was $14,566 Mil.
Total Current Assets was $23,439 Mil.
Total Current Liabilities was $9,169 Mil.
Net Income was 2934 + 3730 + 2873 + 2235 = $11,772 Mil.

Revenue was 11164 + 10936 + 11395 + 9463 = $42,958 Mil.
Gross Profit was 6516 + 6120 + 6527 + 5419 = $24,582 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(42820 + 44302 + 47020 + 49014 + 50014) / 5 = $46634 Mil.
Total Assets at the begining of last year (Dec21) was $42,820 Mil.
Long-Term Debt & Capital Lease Obligation was $15,431 Mil.
Total Current Assets was $21,098 Mil.
Total Current Liabilities was $10,081 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Qualcomm's current Net Income (TTM) was 7,764. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Qualcomm's current Cash Flow from Operations (TTM) was 11,153. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=7764/50014
=0.15523653

ROA (Last Year)=Net Income/Total Assets (Dec21)
=11772/42820
=0.27491826

Qualcomm's return on assets of this year was 0.15523653. Qualcomm's return on assets of last year was 0.27491826. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Qualcomm's current Net Income (TTM) was 7,764. Qualcomm's current Cash Flow from Operations (TTM) was 11,153. ==> 11,153 > 7,764 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=14566/50110.6
=0.29067702

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=15431/46634
=0.33089591

Qualcomm's gearing of this year was 0.29067702. Qualcomm's gearing of last year was 0.33089591. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=23439/9169
=2.55633112

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=21098/10081
=2.09284793

Qualcomm's current ratio of this year was 2.55633112. Qualcomm's current ratio of last year was 2.09284793. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Qualcomm's number of shares in issue this year was 1127. Qualcomm's number of shares in issue last year was 1131. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=20155/36292
=0.55535655

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=24582/42958
=0.57223334

Qualcomm's gross margin of this year was 0.55535655. Qualcomm's gross margin of last year was 0.57223334. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=36292/50014
=0.72563682

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=42958/42820
=1.00322279

Qualcomm's asset turnover of this year was 0.72563682. Qualcomm's asset turnover of last year was 1.00322279. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+1+1+0+0
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Qualcomm has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Qualcomm  (NAS:QCOM) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Qualcomm Piotroski F-Score Related Terms

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Qualcomm (Qualcomm) Business Description

Address
5775 Morehouse Drive, San Diego, CA, USA, 92121-1714
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
Executives
Cristiano R Amon officer: President 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121
James J Cathey officer: Chief Commercial Officer 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121
Alexander H Rogers officer: EVP & President, QTL 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121
Neil Martin officer: SVP, Finance and CAO 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121
James H Thompson officer: EVP, Qualcomm Technologies Inc 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121
Jeffrey William Henderson director 7000 CARDINAL PLACE, DUBLIN OH 43017
Erin L Polek officer: SVP Corporate Controller & CAO 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121
Akash J. Palkhiwala officer: SVP & Interim CFO 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121
Ann C Chaplin officer: General Counsel&Corp Secretary 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121
Donald J Rosenberg officer: EVP, GC & Corporate Secretary QUALCOMM INCORPORATED, 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121
Brian Modoff officer: EVP, Strategy and M&A 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121
Gregory N Johnson director C/O INTUIT INC., 2700 COAST AVENUE, MOUNTAIN VIEW CA 94043
Sylvia Acevedo director 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121
Randt Clark T. Jr. director ONE VALMONT PLAZA, 13815 FIRST NATIONAL BANK PARKWAY, OMAHA NE 68154
Jean-pascal Tricoire director 5775 MOREHOUSE DRIVE, SAN DIEGO CA 92121