QUALCOMM Incorporated

NasdaqGS:QCOM Stock Report

Market Cap: US$183.0b

QUALCOMM Valuation

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

Valuation Score

6/6

Valuation Score 6/6

  • 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 ($154.27) is trading below our estimate of fair value ($275.6)

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 Ratio17x
EarningsUS$10.11b
Market CapUS$182.99b

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 Average90.6x
TXN Texas Instruments
36.6x15.4%US$183.4b
AMD Advanced Micro Devices
122.3x40.5%US$226.2b
ADI Analog Devices
63.3x25.7%US$104.5b
MU Micron Technology
140.2x31.5%US$108.4b
QCOM QUALCOMM
17x7.3%US$183.0b

Price-To-Earnings vs Peers: QCOM is good value based on its Price-To-Earnings Ratio (17x) compared to the peer average (90.6x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
TOYO TOYO
4.5xn/aUS$148.87m
SQNS Sequans Communications
1.6x-156.5%US$67.23m
No more companies available in this PE range
QCOM 17.0xIndustry Avg. 30.3xNo. of Companies9PE020406080100+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: QCOM is good value based on its Price-To-Earnings Ratio (17x) compared to the US Semiconductor industry average (30.3x).

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 Ratio17x
Fair PE Ratio29.2x

Price-To-Earnings vs Fair Ratio: QCOM is good value based on its Price-To-Earnings Ratio (17x) compared to the estimated Fair Price-To-Earnings Ratio (29.3x).

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$154.27
US$209.06
+35.5%
13.9%US$270.00US$160.00n/a30
Nov ’25US$165.27
US$211.43
+27.9%
14.3%US$270.00US$160.00n/a29
Oct ’25US$165.78
US$217.12
+31.0%
12.7%US$270.00US$170.00n/a29
Sep ’25US$175.30
US$217.81
+24.2%
12.7%US$270.00US$170.00n/a29
Aug ’25US$164.00
US$217.87
+32.9%
12.4%US$270.00US$165.00n/a30
Jul ’25US$200.03
US$200.84
+0.4%
15.9%US$270.00US$140.00n/a30
Jun ’25US$204.05
US$193.84
-5.0%
14.6%US$255.00US$140.00n/a30
May ’25US$164.11
US$175.24
+6.8%
14.1%US$255.00US$120.00n/a32
Apr ’25US$171.72
US$164.13
-4.4%
9.6%US$200.00US$120.00n/a29
Mar ’25US$163.09
US$161.47
-1.0%
8.1%US$180.00US$120.00n/a29
Feb ’25US$141.11
US$159.91
+13.3%
8.5%US$180.00US$120.00n/a27
Jan ’25US$144.63
US$140.29
-3.0%
9.2%US$160.00US$100.00n/a26
Dec ’24US$129.67
US$139.13
+7.3%
9.8%US$160.00US$100.00n/a27
Nov ’24US$110.89
US$136.87
+23.4%
8.9%US$155.00US$100.00US$165.2727
Oct ’24US$111.06
US$137.91
+24.2%
8.9%US$155.00US$100.00US$165.7827
Sep ’24US$115.39
US$137.57
+19.2%
9.4%US$155.00US$95.00US$175.3027
Aug ’24US$132.08
US$137.30
+3.9%
10.2%US$159.00US$95.00US$164.0027
Jul ’24US$119.04
US$134.92
+13.3%
10.4%US$157.00US$95.00US$200.0326
Jun ’24US$115.83
US$134.16
+15.8%
10.6%US$157.00US$95.00US$204.0525
May ’24US$115.84
US$150.16
+29.6%
8.8%US$180.00US$125.00US$164.1125
Apr ’24US$127.58
US$154.00
+20.7%
13.4%US$238.00US$125.00US$171.7228
Mar ’24US$123.68
US$156.97
+26.9%
17.2%US$250.00US$125.00US$163.0929
Feb ’24US$138.46
US$152.16
+9.9%
21.3%US$250.00US$105.00US$141.1129
Jan ’24US$109.94
US$151.09
+37.4%
21.4%US$250.00US$105.00US$144.6330
Dec ’23US$126.81
US$153.64
+21.2%
21.8%US$250.00US$105.00US$129.6731
Nov ’23US$117.33
US$174.57
+48.8%
20.1%US$250.00US$120.00US$110.8930

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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