Discounted Cash Flow

Qualcomm Inc./de

QCOM · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $23.6b $5.7b $6.9b 24.2% $3.84
2017 $22.3b (-5.4%) $2.5b (-56.8%) $4.0b (-41.7%) 11.1% (-54.3%) $1.67 (-56.5%)
2018 $22.7b (2.0%) $-4.9b (-297.2%) $3.1b (-22.3%) -21.4% (-293.4%) $-3.32 (-298.8%)
2019 $24.3b (6.8%) $4.4b (190.2%) $6.4b (105.7%) 18.1% (184.4%) $3.63 (209.3%)
2020 $23.5b (-3.1%) $5.2b (18.5%) $4.4b (-31.1%) 22.1% (22.3%) $4.58 (26.2%)
2021 $33.6b (42.6%) $9.0b (74.0%) $8.6b (96.2%) 26.9% (22.0%) $7.99 (74.5%)
2022 $44.2b (31.7%) $12.9b (43.0%) $7.0b (-19.0%) 29.3% (8.6%) $11.52 (44.2%)
2023 $35.8b (-19.0%) $7.2b (-44.1%) $10.2b (46.3%) 20.2% (-31.0%) $6.47 (-43.8%)
2024 $39.0b (8.8%) $10.1b (40.2%) $11.3b (9.8%) 26.0% (28.9%) $9.09 (40.5%)
2025 $44.3b (13.7%) $5.5b (-45.4%) $12.8b (13.9%) 12.5% (-51.9%) $5.05 (-44.4%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model