What is Qualcomm Incorporated (QCOM) DCF Fair Value and Intrinsic Value in 2026?

Qualcomm Incorporated (QCOM) intrinsic value is calculated using conservative multi-stage Discounted Cash Flow (DCF) models, 5-year free cash flow trajectories, Graham Numbers, and owner earnings multiples. LocalAlpha tracks real-time margin of safety against live market prices.

What is Qualcomm Incorporated's historical Return on Invested Capital (ROIC) and Moat Rating?

Qualcomm Incorporated operates in the Technology sector (Semiconductors) with an economic moat rating of NARROW. LocalAlpha tracks 5-year audited quarterly ROIC, operating margin stability, and balance sheet solvency ratios.

What is Qualcomm Incorporated's financial health rating and Piotroski F-Score?

Qualcomm Incorporated's balance sheet quality is evaluated using the 9-point Piotroski F-Score, Altman Z-Score solvency model, debt-to-equity ratio, and quick/current liquidity coverage to guard against financial distress.

How does LocalAlpha monitor Qualcomm Incorporated (QCOM) for quarterly SEC filing thesis breaks?

LocalAlpha audits Qualcomm Incorporated's 10-K, 10-Q, and 8-K regulatory filings on SEC EDGAR within 15 minutes of release. If reported metrics breach an investor's custom ROIC floor, operating margin boundary, or qualitative risk criteria, an autonomous breach audit is dispatched immediately.

StocksQCOM

QCOM

QUALCOMM IncorporatedTechnology / SemiconductorsINTACT

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software with connectivity and computing technologies for use in mobile devices; automotive systems for connectivity, digital cockpit, and ADAS/AD; and IoT, including consumer electronic devices, industrial devices, and edge networking products. The QTL segment grants licenses or provides rights to use portions of its intellectual property portfolio, which include various patent rights useful in the manufacture and sale of wireless products comprising products implementing LTE, and/or OFDMA-based 5G products and derivatives; to use cellular standard-essential patents, including 3G, 4G and 5G for cellular devices. The QSI segment invests in early-stage companies in various industries, including 5G, artificial intelligence, automotive, consumer, enterprise, cloud, IoT, and extended reality, and investments, including non-marketable equity securities and, to a lesser extent, marketable equity securities, and convertible debt instruments. It also provides development, and other services and sells related products to the United States government agencies and their contractors. In addition, the company is also involved in Qualcomm government technologies and data center businesses. Further, it provides security and intelligence services for unmanaged networks through software-based network security solutions. The company is in collaboration with Amazon to enable customized silicon at scale for large-scale AI data centers. QUALCOMM Incorporated was incorporated in 1985 and is headquartered in San Diego, California.

Share Price

$183.44

52W: $121.99 - $259.92

DCF Fair Value

$208.58

+12.1%

Thesis Hub

P/E (TTM)

20.9x

ROIC

13.9%

Operating Margin

18.5%

FCF Yield

5.2%

Debt / Equity

0.55x

Piotroski Score

9/9

Altman Z-Score

3.22

Market Cap

$195.9B

Price vs. Intrinsic Value Corridor

Modest Value ($183.44 vs $208.58 DCF)

Historical market price overlaid against conservative DCF Fair Value & Benjamin Graham Margin of Safety bands.

Period Return (1Y)

—()

Period Range

$— - $—

DCF Fair Value

$208.58

MOS Buy Target (-25%)

$156.44

Valuation Overlays: DCF Fair Value ($208.58) 25% MOS Buy Target ($156.44) Revised Graham ($179.87) Graham Number ($71.82)

2-Stage Discounted Cash Flow (DCF) Workbench

Conservative intrinsic value model based on owner cash generation over a 10-year investment horizon. Opens with LocalAlpha's baseline assumptions (matching the fair value shown above) — adjust any input to stress-test.

Current Market Price

$183.44

DCF Fair Value

$208.86

+12.2%

Starting Free Cash Flow ($M)$10,241M

$100M$10,241M (Reported)$50,000M

Stage 1 Growth (Years 1-5)9.3%

-5%10% (Target)35%

Stage 2 Growth (Years 6-10)4.5%

0%5%20%

Discount Rate (WACC / Hurdle)9.0%

6%9% (Standard)15% (High Risk)

Terminal Perpetual Growth2.5%

1% (GDP Floor)2.5% (Inflation)4.0%

Net Debt ($M)$7,000M

-$100B CashBalance Sheet+$150B Debt

10-Yr PV of Cash Flows

$97.5B

PV of Terminal Value

$132.6B

Implied Enterprise Value

$230.1B

Implied Equity Value

$223.1B

Year	Yr 1	Yr 2	Yr 3	Yr 4	Yr 5	Yr 6	Yr 7	Yr 8	Yr 9	Yr 10
Projected FCF ($M)	$11,193	$12,234	$13,372	$14,616	$15,975	$16,694	$17,445	$18,230	$19,051	$19,908
Present Value (PV)	$10,269	$10,297	$10,326	$10,354	$10,383	$9,954	$9,543	$9,149	$8,771	$8,409

Benjamin Graham & Buffett Value Models

Classical deep value metrics based on asset backing, normalized earnings power, and owner cash yield.

Graham Number-155.4% Premium

$71.82

Calculated as √(22.5 × EPS × BVPS). The maximum theoretical price a defensive investor should pay based purely on asset book value and current earnings.

EPS: $8.76BVPS: $26.17

Revised Graham Formula-2% Premium

$179.87

Formula: V = (EPS × (8.5 + 2g) × 4.4) / Y where g is the conservative 7-10 yr growth rate and Y is AAA Bond Yield.

Growth Rate (g%)

Bond Yield (Y%)

Buffett Owner Earnings5% Yield

$9.11 / share

True distributable cash flow: Net Income + D&A - Maintenance CapEx. Reflects the cash Buffett would extract without hurting unit volume.

Total: $9.7BYield: 5%

Reverse DCF: Market Growth Expectation

MODEST BARRIER

5.1% CAGR (Next 10 Yrs)

At the current price of $183.44, the market is assuming the business will compound Free Cash Flow at 5.1% per year for the next decade with a 9% hurdle rate.

Value Investor Verdict

✓ Low market hurdle: Easy for a wide-moat compounder to beat.

Autonomous Thesis Underwriting

Surveil QCOM with Mathematical Margin of Safety Rules

Set non-negotiable floor rules for QUALCOMM Incorporated. If a newly filed quarterly 10-Q breaks your ROIC floor, operating margin boundary, or balance sheet leverage rules, receive an autonomous breach audit within 15 minutes.

Buffett Quality

ROIC > 15% • Margin > 15% • D/E < 0.5x

Margin Floor Guard

Current Margin 18.5% • Floor > 10%

Solvency Guard

Altman-Z > 2.6 • Current Ratio > 1.5x

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Frequently Asked Questions: QUALCOMM Incorporated (QCOM) Intrinsic Valuation

Audited fundamentals, DCF intrinsic value sensitivity, and thesis break detection parameters for QUALCOMM Incorporated.

Based on institutional multi-stage Discounted Cash Flow (DCF) modeling on audited SEC cash flows, QUALCOMM Incorporated has an estimated DCF intrinsic fair value of $208.58 per share compared to its current market price of $183.44. This represents an estimated 12.1% margin of safety (trading below fair value). Additionally, its classic Benjamin Graham Number stands at $71.82.