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Qualcomm (NAS:QCOM) Piotroski F-Score

: 8 (As of Today)
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Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

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 8. It is a good or high score, which usually indicates a very healthy situation.

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: 8

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


Qualcomm (NAS:QCOM) 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 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 8.00 6.00 7.00 8.00

Qualcomm Quarterly Data
Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
Piotroski F-Score 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 Premium Member Only Premium Member Only Premium Member Only 7.00 6.00 6.00 6.00 8.00

Qualcomm (NAS:QCOM) Piotroski F-Score 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 (NAS:QCOM) 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 (Sep22) TTM:Last Year (Sep21) TTM:
Net Income was 3399 + 2934 + 3730 + 2873 = $12,936 Mil.
Cash Flow from Operations was 2057 + 2698 + 2895 + 1446 = $9,096 Mil.
Revenue was 10705 + 11164 + 10936 + 11395 = $44,200 Mil.
Gross Profit was 6402 + 6516 + 6120 + 6527 = $25,565 Mil.
Average Total Assets from the begining of this year (Sep21)
to the end of this year (Sep22) was
(41240 + 42820 + 44302 + 47020 + 49014) / 5 = $44879.2 Mil.
Total Assets at the begining of this year (Sep21) was $41,240 Mil.
Long-Term Debt & Capital Lease Obligation was $13,537 Mil.
Total Current Assets was $20,724 Mil.
Total Current Liabilities was $11,866 Mil.
Net Income was 2455 + 1762 + 2027 + 2798 = $9,042 Mil.

Revenue was 8235 + 7935 + 8060 + 9336 = $33,566 Mil.
Gross Profit was 4746 + 4503 + 4656 + 5399 = $19,304 Mil.
Average Total Assets from the begining of last year (Sep20)
to the end of last year (Sep21) was
(35594 + 37479 + 37168 + 38769 + 41240) / 5 = $38050 Mil.
Total Assets at the begining of last year (Sep20) was $35,594 Mil.
Long-Term Debt & Capital Lease Obligation was $13,701 Mil.
Total Current Assets was $20,075 Mil.
Total Current Liabilities was $11,951 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 12,936. ==> 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 9,096. ==> 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 (Sep21)
=12936/41240
=0.31367604

ROA (Last Year)=Net Income/Total Assets (Sep20)
=9042/35594
=0.25403158

Qualcomm's return on assets of this year was 0.31367604. Qualcomm's return on assets of last year was 0.25403158. ==> This year is higher. ==> Score 1.

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 12,936. Qualcomm's current Cash Flow from Operations (TTM) was 9,096. ==> 9,096 <= 12,936 ==> CFROA <= ROA ==> Score 0.

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: Sep22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep21 to Sep22
=13537/44879.2
=0.30163194

Gearing (Last Year: Sep21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep20 to Sep21
=13701/38050
=0.36007884

Qualcomm's gearing of this year was 0.30163194. Qualcomm's gearing of last year was 0.36007884. ==> 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: Sep22)=Total Current Assets/Total Current Liabilities
=20724/11866
=1.74650261

Current Ratio (Last Year: Sep21)=Total Current Assets/Total Current Liabilities
=20075/11951
=1.67977575

Qualcomm's current ratio of this year was 1.74650261. Qualcomm's current ratio of last year was 1.67977575. ==> 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 1131. Qualcomm's number of shares in issue last year was 1143. ==> 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
=25565/44200
=0.57839367

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=19304/33566
=0.57510576

Qualcomm's gross margin of this year was 0.57839367. Qualcomm's gross margin of last year was 0.57510576. ==> This year's gross margin is higher. ==> Score 1.

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 (Sep21)
=44200/41240
=1.07177498

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep20)
=33566/35594
=0.94302411

Qualcomm's asset turnover of this year was 1.07177498. Qualcomm's asset turnover of last year was 0.94302411. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

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

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

Qualcomm has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

Thank you for viewing the detailed overview of Qualcomm's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Qualcomm (NAS:QCOM) Business Description

Qualcomm logo
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 and 4G networks. The firm is a leader in 5G network technology as well. 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 and chips into automotive and Internet of Things markets.
Executives
Cathey James J officer: Chief Commercial Officer 5775 MOREHOUSE DRIVE SAN DIEGO CA 92121
Chaplin Ann C officer: General Counsel&Corp Secretary 5775 MOREHOUSE DRIVE SAN DIEGO CA 92121
Acevedo Sylvia director 5775 MOREHOUSE DRIVE SAN DIEGO CA 92121
Johnson Gregory N director C/O INTUIT INC. 2700 COAST AVENUE MOUNTAIN VIEW CA 94043
Tricoire Jean-pascal director 5775 MOREHOUSE DRIVE SAN DIEGO CA 92121
Miller Jamie S director GENERAL ELECTRIC COMPANY 5 NECCO STREET BOSTON MA 02210
Ace Heather S officer: EVP, Human Resources 3721 VALLEY CENTRE DR SUITE 500 SAN DIEGO CA 92130
Palkhiwala Akash J. officer: SVP & Interim CFO 5775 MOREHOUSE DRIVE SAN DIEGO CA 92121
Wise David officer: Interim CFO 5775 MOREHOUSE DRIVE SAN DIEGO CA 92121
Polek Erin L officer: SVP Corporate Controller & CAO 5775 MOREHOUSE DRIVE SAN DIEGO CA 92121
Anstice Martin B director 4650 CUSHING PARKWAY FREMONT CA 94538
Rosenfeld Irene B director 999 VANDERBILT BEACH ROAD SUITE 601 NAPLES FL 34108
Mollenkopf Steven M director, officer: Chief Executive Officer 5775 MOREHOUSE DRIVE SAN DIEGO CA 92121
Smit Neil director C/O AMERICA ONLINE LATIN AMERICA, INC. 6600 N. ANDREWS AVE., SUITE 400 FT. LAUDERDALE FL 33309
Fields Mark director FORD MOTOR COMPANY ONE AMERICAN ROAD DEARBORN MI 48126

Qualcomm (NAS:QCOM) Headlines

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