QUALCOMM Incorporated

NasdaqGS:QCOM Stock Report

Mkt Cap: US$150.5b

We’ve recently updated our valuation analysis.

QUALCOMM Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

QCOM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3.7x
Enterprise Value/EBITDA9.8x
PEG Ratio2x

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.
CompanyPEEstimated GrowthMarket Cap
Peer Average33.8x
TXN Texas Instruments
19x-0.1%US$165.2b
ADI Analog Devices
32.9x9.5%US$90.5b
AMD Advanced Micro Devices
61.1x28.7%US$138.8b
AVGO Broadcom
22.3x7.4%US$249.7b
QCOM QUALCOMM
11.7x6.4%US$151.4b

Price-To-Earnings vs Peers: QCOM is good value based on its Price-To-Earnings Ratio (12.7x) compared to the peer average (33.8x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a16.5%
n/an/an/a

Price-To-Earnings vs Industry: QCOM is good value based on its Price-To-Earnings Ratio (12.7x) compared to the US Semiconductor industry average (19x)


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 Ratio12.7x
Fair PE Ratio17.4x

Price-To-Earnings vs Fair Ratio: QCOM is good value based on its Price-To-Earnings Ratio (12.7x) compared to the estimated Fair Price-To-Earnings Ratio (17.4x).


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 ($135.02) is trading above our estimate of fair value ($123.95)

Significantly Below Fair Value: QCOM is trading above our estimate of fair value.


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$135.02
US$155.58
+15.2%
19.6%US$250.00US$105.00n/a29
Jan ’24US$109.94
US$151.09
+37.4%
21.4%US$250.00US$105.00n/a30
Dec ’23US$126.81
US$153.64
+21.2%
21.8%US$250.00US$105.00n/a31
Nov ’23US$117.33
US$174.57
+48.8%
20.1%US$250.00US$120.00n/a30
Oct ’23US$112.98
US$181.97
+61.1%
17.2%US$250.00US$130.00n/a29
Sep ’23US$129.92
US$184.90
+42.3%
16.8%US$250.00US$130.00n/a30
Aug ’23US$147.43
US$187.13
+26.9%
16.7%US$250.00US$130.00n/a30
Jul ’23US$123.53
US$195.20
+58.0%
17.0%US$250.00US$150.00n/a30
Jun ’23US$140.02
US$195.93
+39.9%
16.5%US$250.00US$150.00n/a30
May ’23US$139.69
US$196.20
+40.5%
16.4%US$250.00US$150.00n/a29
Apr ’23US$146.99
US$212.93
+44.9%
10.7%US$250.00US$163.00n/a28
Mar ’23US$163.69
US$214.72
+31.2%
10.7%US$250.00US$163.00n/a29
Feb ’23US$177.13
US$203.17
+14.7%
9.3%US$250.00US$163.00US$138.4629
Jan ’23US$182.87
US$200.75
+9.8%
8.4%US$225.00US$163.00US$109.9428
Dec ’22US$175.63
US$198.14
+12.8%
8.6%US$225.00US$163.00US$126.8128
Nov ’22US$134.81
US$174.70
+29.6%
12.1%US$225.00US$136.00US$117.3327
Oct ’22US$128.71
US$176.44
+37.1%
11.6%US$225.00US$136.00US$112.9827
Sep ’22US$146.45
US$177.08
+20.9%
10.9%US$225.00US$136.00US$129.9225
Aug ’22US$149.80
US$175.19
+17.0%
9.9%US$200.00US$136.00US$147.4326
Jul ’22US$140.80
US$171.88
+22.1%
10.3%US$200.00US$136.00US$123.5326
Jun ’22US$133.94
US$171.76
+28.2%
10.5%US$200.00US$136.00US$140.0225
May ’22US$138.80
US$171.96
+23.9%
10.6%US$200.00US$136.00US$139.6925
Apr ’22US$137.79
US$171.46
+24.4%
11.1%US$200.00US$122.00US$146.9926
Mar ’22US$139.49
US$171.65
+23.1%
11.4%US$200.00US$122.00US$163.6926
Feb ’22US$161.58
US$166.37
+3.0%
13.9%US$200.00US$124.00US$177.1327

Analyst Forecast: Target price is less than 20% higher than the current share price.


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