QUALCOMM Incorporated

BVL:QCOM Stock Report

Market Cap: US$175.4b

QUALCOMM Valuation

Is QCOM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of QCOM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: QCOM ($160.2) is trading below our estimate of fair value ($230.02)

Significantly Below Fair Value: QCOM is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for QCOM?

Key metric: As QCOM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for QCOM. This is calculated by dividing QCOM's market cap by their current earnings.
What is QCOM's PE Ratio?
PE Ratio16.8x
EarningsUS$10.11b
Market CapUS$175.45b

Price to Earnings Ratio vs Peers

How does QCOM's PE Ratio compare to its peers?

The above table shows the PE ratio for QCOM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average88.3x
TXN Texas Instruments
34.2x15.2%US$171.6b
AMD Advanced Micro Devices
107.9x40.0%US$202.9b
ADI Analog Devices
63.1x22.8%US$106.1b
MU Micron Technology
148.1x32.3%US$120.4b
QCOM QUALCOMM
16.8x7.1%US$175.4b

Price-To-Earnings vs Peers: QCOM is good value based on its Price-To-Earnings Ratio (16.8x) compared to the peer average (88.3x).

Price to Earnings Ratio vs Industry

How does QCOM's PE Ratio compare vs other companies in the Global Semiconductor Industry?

13 CompaniesPrice / EarningsEstimated GrowthMarket Cap
QCOM 16.8xIndustry Avg. 33.5xNo. of Companies71PE020406080100+
13 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: QCOM is good value based on its Price-To-Earnings Ratio (16.8x) compared to the Global Semiconductor industry average (33.5x).

Price to Earnings Ratio vs Fair Ratio

What is QCOM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

QCOM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate QCOM's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst QCOM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$160.20
US$204.70
+27.8%
14.2%US$270.00US$160.00n/a31
Dec ’25US$154.75
US$209.06
+35.1%
13.9%US$270.00US$160.00n/a30
Nov ’25US$177.60
US$211.43
+19.0%
14.3%US$270.00US$160.00n/a29
Oct ’25US$166.75
US$217.12
+30.2%
12.7%US$270.00US$170.00n/a29
Sep ’25US$169.66
US$217.81
+28.4%
12.7%US$270.00US$170.00n/a29
Aug ’25US$164.30
US$217.87
+32.6%
12.4%US$270.00US$165.00n/a30
Jul ’25US$204.30
US$200.84
-1.7%
15.9%US$270.00US$140.00n/a30
Jun ’25US$205.32
US$193.84
-5.6%
14.6%US$255.00US$140.00n/a30
May ’25US$173.10
US$175.24
+1.2%
14.1%US$255.00US$120.00n/a32
Apr ’25US$168.10
US$164.13
-2.4%
9.6%US$200.00US$120.00n/a29
Mar ’25US$151.00
US$161.47
+6.9%
8.1%US$180.00US$120.00n/a29
Feb ’25US$141.80
US$159.91
+12.8%
8.5%US$180.00US$120.00n/a27
Jan ’25US$145.35
US$140.29
-3.5%
9.2%US$160.00US$100.00n/a26
Dec ’24US$129.90
US$139.13
+7.1%
9.8%US$160.00US$100.00US$154.7527
Nov ’24US$110.00
US$136.87
+24.4%
8.9%US$155.00US$100.00US$177.6027
Oct ’24US$107.08
US$137.91
+28.8%
8.9%US$155.00US$100.00US$166.7527
Sep ’24US$114.60
US$137.57
+20.0%
9.4%US$155.00US$95.00US$169.6627
Aug ’24US$131.22
US$137.30
+4.6%
10.2%US$159.00US$95.00US$164.3027
Jul ’24US$123.51
US$134.92
+9.2%
10.4%US$157.00US$95.00US$204.3026
Jun ’24US$115.30
US$134.16
+16.4%
10.6%US$157.00US$95.00US$205.3225
May ’24US$118.05
US$150.16
+27.2%
8.8%US$180.00US$125.00US$173.1025
Apr ’24US$124.65
US$154.00
+23.5%
13.4%US$238.00US$125.00US$168.1028
Mar ’24US$124.65
US$156.97
+25.9%
17.2%US$250.00US$125.00US$151.0029
Feb ’24US$130.20
US$152.16
+16.9%
21.3%US$250.00US$105.00US$141.8029
Jan ’24US$106.50
US$151.09
+41.9%
21.4%US$250.00US$105.00US$145.3530
Dec ’23US$106.50
US$153.64
+44.3%
21.8%US$250.00US$105.00US$129.9031

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 00:17
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/29
Annual Earnings2024/09/29

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

QUALCOMM Incorporated is covered by 89 analysts. 32 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Warren LauAletheia Analyst Network Limited
Brett SimpsonArete Research Services LLP
James KelleherArgus Research Company