| Intrinsic Valuation of: QCOM | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 9 | Market Cap | $212B | |||||
| 2021 | - | - (-) | P/E Ratio | 22 | Total Asset | $50B | |||||
| 2022 | $7B | - (-) | Net Income | $6B | Total Debt | $15B | |||||
| 2023 | $10B | 44.1% (77.8%) | EBITDA | $15B | Total Liab | $29B | |||||
| 2024 | $11B | 13.3% (4.2%) | Opr Margin | 27.99 | Debt/Equity | 0.70 | |||||
| 2025 | $13B | 14.9% (1.1%) | PreTax Margin | 26.49 | BV/Share | 8 | |||||
| 5Y Average FCF | $10B | 10.3% (27.7%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.48% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 11.12% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (10.3%) | ||||||||||
| 2026 | $13B | MBG Intrinsic Value | $84 | ||||||||
| 2027 | $14B | ||||||||||
| 2028 | $15B | ||||||||||
| 2029 | $16B | ||||||||||
| 2030 | $17B | ||||||||||
| 2031 | $17B | ||||||||||
| Terminal Value | $207B | Net Worth/Share | $20 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $175B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $6B | $157 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $15B | WACC | 9.1% | 187 | 196 | 208 | 221 | 236 | |||
| Equity Value | $165B | 10.1% | 164 | 171 | 179 | 188 | 199 | ||||
| Shares Outstanding | 1,054,000,000 | 11.1% | 145 | 151 | 157 | 164 | 172 | ||||
| 12.1% | 130 | 135 | 139 | 145 | 151 | ||||||
| DCF Intrinsic Value | $157 | 13.1% | 118 | 121 | 125 | 129 | 134 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||