QCOM QCOM

Name: QCOM Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored April 20, 2026

Price at analysis: $136.20

Crucible Score

67.7

B-

Quality × Value Composite

KQI — Quality

68.9

Fundamental Quality Index

KVI — Value

66.3

B-

Valuation Attractiveness Index

Crucible Verdict — QCOM

Qualcomm delivers solid fundamentals with strong financial quality (79) and management effectiveness (76), though growth prospects remain constrained at 51. QCOM trades at a 24% discount to fair value despite CEO Amon's exceptional 97% earnings beat rate over five years. The company's limited diversification (49) creates vulnerability, making its ability to expand beyond core wireless markets the key catalyst for unlocking valuation upside.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

78.6

Growth Profile

50.6

Moat Durability

68.3

Management Effectiveness

76.5

Diversification & Resilience

49.2

Market Position

73.0

Weakest dimension: Diversification & Resilience (49.2)

◆ KVI Value Dimensions

DCF Margin of Safety

72.8

FCF Yield & Cash Returns

92.4

Relative Valuation

74.8

Growth-Adjusted Value

22.0

Historical Valuation

42.7

Macro Context

71.3

◆ DCF Valuation Scenarios

Bear Case

$112.45

Base Case

$168.30

Bull Case

$241.55

Price at Analysis

$136.20

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$112.45	4.0%	25.0%	11.4%
🟢 Base	$168.30	7.0%	29.0%	10.8%
🟢 Bull	$241.55	10.0%	33.0%	10.1%

Key Assumptions: WACC derived using CAPM with 4.32% risk-free rate, 1.28 beta, and 5.5% ERP (base), with +/-50bps adjustments for bear/bull. Tax rate normalized to 14% reflecting QCOM's recent effective rate excluding one-off charges. Revenue growth anchored to trailing 5-year CAGR of ~6%, with bear reflecting smartphone market saturation and licensing headwinds, base reflecting steady QCT diversification into automotive/IoT, and bull reflecting accelerated AI-edge and automotive adoption. Operating margins reflect historical range of 22-36%, with mean reversion toward mid-to-high 20s in base given cyclicality and competitive pressures from MediaTek and in-house modem efforts by Apple.

◆ Financial Snapshot

Profitability

Gross Margin55.1%

Operating Margin27.1%

Net Margin12.0%

ROIC14.8%

ROE-7.3%

Balance Sheet

Balance SheetCR: 2.51

Cash ConversionFCF/EPS: 2.41x

Capital IntensityCapex/Rev: 2.7%

Altman Z-Score5.47 (Safe)

Piotroski F-Score6/9 (Good)

Growth

Revenue CAGR7.2% CAGR

Earnings CAGR-11.5% CAGR

Growth ConsistencyCV: 2.05

Segment Breadth2/2 growing (100%)

Quarterly TrendRev↘+10%, Margin↓↓, WC↓

Earnings CredibilityConsistent Beater

◆ Analyst Consensus & Leadership

Leadership & Governance

CEOCristiano Amon · 5 years

CEO Ownership95.3%

Compensation92% performance-based

Insider ActivitySelling

Capital AllocationROIC 14.8% vs WACC 3.2%

Earnings Beat Rate97% (21/22)

◆ Related Companies in Our Universe

Other Unknown companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted April 20, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.