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Qualcomm Inc (QCOM34) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Qualcomm Inc BRL 96.44, price BRL 81.59, upside +18.2%, quality 85 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Technology · BR · Home US

QI Some data Sep 29, 2026

Qualcomm Inc

QCOM34 · SA

Undervalued, solidQuality growthFair Value upside is positive and quality is strong.

✓Fair value R$96.44 · Undervalued (+18.2%)
✓Quality 85/100
✓Healthy Growth (revenue 5y +13.5 %/yr)
✓Highly profitable · 22.3% net margin (TTM)
✓Moderate debt · generates free cash flow
✓4.4% dividend yield · Sustainable
✓Ranks above peers (9/11)
✓Wide moat 87/100
!Insider activity 40/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

R$105.23 R$40.12 Fair Value R$96.44 Jun 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.

How to read this chart

60‑month range R$40.12 – R$105.23 · fair‑value band R$67.06 – R$131.84 · the R$81.59 price screens below the R$96.44 fair value. Dashed = 300-day average. As of Sep 29, 2026.

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Company profile

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).

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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. QUALCOMM Incorporated was incorporated in 1985 and is headquartered in San Diego, California.

Stock analysis

Qualcomm Inc (QCOM34) currently trades at R$81.59, while our model-based Fair Value estimate is R$96.44, implying the stock looks roughly 15.4% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of R$83.12 per share, and 8 of the 26 models we run sit above the R$81.59 price.

Bear case: the Economic Profit group reads lowest at R$17.09, and 18 of the 26 models stay below the price. Evidence for this calculation is medium.

Scenario range: R$67.06 (bear) to R$131.84 (bull), the price of R$81.59 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 85/100 (high quality), in the Technology sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Qualcomm Inc reported revenue of $44.3B in FY2025 versus $33.6B in FY2021, a compound +7.2%/yr. Reported net income was $5.5B in FY2025, compounding −11.5%/yr from FY2021.

Key figures

Market cap R$943B (≈ $181B) · P/E ratio 20.3 · P/S ratio 2.54 · EPS (TTM) R$4.02 · Dividend yield 4.4% · Net margin 12.5% · Return on equity 36.1% · Return on assets (EBIT) 22.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 64 out of 100 (medium confidence).

What moves the price

The share trades about 22% below its 52-week high and 54% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −41% fair-value upside, at 18%, QCOM34 screens cheaper than that median.

Fair Value models

Bear R$67.06 Fair Value R$96.44 Bull R$131.84
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (R$0.4600 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF R$63.80 R$111.40 R$190.00 78
Growth DCF R$63.98 R$109.38 R$183.41 76
Owner Earnings R$29.06 R$52.22 R$90.45 74
All 26 models by family
DCF Models
FCF DCF R$63.80 R$111.40 R$190.00 78
Owner Earnings R$29.06 R$52.22 R$90.45 74
5Y Revenue Exit R$48.53 R$81.55 R$124.79 71
5Y EBITDA Exit R$65.47 R$115.16 R$175.60 74
5Y P/E Exit R$47.78 R$80.06 R$115.35 70
10Y Revenue Exit R$51.72 R$84.19 R$130.60 66
10Y EBITDA Exit R$64.28 R$108.28 R$171.59 67
10Y P/E Exit R$52.73 R$83.12 R$122.99 63
Earnings-Based
Graham-Dodd R$15.56 R$62.59 R$85.12 64
Lynch FV R$15.60 R$22.28 R$28.97 61
PEG = 1.0 R$15.60 R$22.28 R$28.97 57
EPV R$36.39 R$43.10 R$48.96 74
Dividend Discount
Gordon GGM R$14.43 R$29.99 R$47.58 66
DDM Multi-Stage R$14.43 R$25.29 R$31.48 66
Multiples
P/E Multiple R$48.04 R$64.06 R$80.07 63
P/S Multiple R$29.17 R$38.89 R$48.62 58
P/B Multiple R$29.17 R$38.89 R$48.62 55
EV/EBIT R$87.15 R$117.48 R$147.80 66
EV/EBITDA R$73.33 R$99.05 R$124.78 67
EV/Revenue R$42.16 R$61.87 R$81.59 53
Asset-Based
NCAV (Graham) R$4.38 R$5.87 R$8.76 54
Growth DCF
Growth DCF R$63.98 R$109.38 R$183.41 76
Rev-Margin DCF R$48.53 R$81.38 R$122.06 72
Economic Profit
Residual Income R$13.84 R$17.09 R$28.23 74
ROIC Compounder R$40.32 R$52.82 R$67.64 72
Growth Earnings
Growth-Adj P/E R$32.66 R$46.66 R$60.66 67

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Quality Score breakdown

Overall quality 85/100

Of which business quality 82 · Market factors (momentum, volatility) 44

Profitability 73
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 99
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 13
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 99
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 99/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.5%
Start year 2020 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.0%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+15.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.2%
Dividend (yield on the price)4.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.27% → 28%

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Recent news

News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Semiconductors · 326 stocks

Beats the industry median on 9/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 85 · Top 25%
Fair Value upside +13.3% · Top 25%
Profitability
Return on equity (TTM) 36.1% · Top 25%
Return on assets 12.7% · Top 25%
Net margin (TTM) 22.3% · Top 25%
Operating margin (TTM) 22.1% · Top 25%
Growth and dividend
Revenue growth −3.5% · Bottom 25%
Dividend yield (TTM) 4.4% · Top 25%
Balance sheet
Debt / equity 0.70× · Highest 25%

Valuation Multiplesvs Semiconductors median · lower = cheaper

P/E (TTM) 20.3× · Cheapest 25%
PEG 0.55× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)51 · sector 0
FUTURE (revenue growth)0 · sector 88
PAST (return on equity)100 · sector 30
HEALTH (low debt)65 · sector 95
DIVIDEND (yield)89 · sector 19

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Taiwan Semiconductor Manufacturing Company TSM $459.20 $505.12 +10%
Broadcom Inc AVGO $351.19 $303.10 −14%
Micron Technology, Inc MU $1,054 $151.51 −86%
Advanced Micro Devices, Inc AMD $611.76 $122.60 −80%
SK hynix Inc 000660 1,833,000 KRW 2,016,300 KRW +10%
Intel Corporation INTC $115.93 $33.67 −71%
Arm Holdings ARM $310.32 $44.44 −86%
MediaTek Inc 2454 5,285 TWD 3,142 TWD −41%
Texas Instruments Incorporated TXN $280.09 $81.75 −71%

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Cite: Fair Value Calculator (2026). "Qualcomm Inc Fair Value". https://www.fairvalue-calculator.com/stock/QCOM34

Frequently asked questions

Is Qualcomm Inc (QCOM34) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of R$96.44 versus a price of R$81.59, about +18% upside (undervalued).
What is the fair value of QCOM34?
Our model-based fair value for Qualcomm Inc is R$96.44 (as of Sep 29, 2026), built from audited fundamentals. The current price: R$81.59.
What is the quality score of QCOM34?
Qualcomm Inc has a Quality Score of 85/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Qualcomm Inc (QCOM34)?
Our model-based price target is the fair value of R$96.44 (as of Sep 29, 2026) from 26 valuation models. Cautious scenario R$67.06, optimistic scenario R$131.84. It is a calculation from audited fundamentals, not an analyst target.
What is the Qualcomm Inc stock forecast for 2026?
Our models put fair value at R$96.44, about +18% upside versus a price of R$81.59 (undervalued). Cautious scenario R$67.06, optimistic scenario R$131.84. The calculation is refreshed regularly with new filings.
What is the revenue of Qualcomm Inc (QCOM34)?
Qualcomm Inc reported trailing-twelve-month revenue of about $44.5B (latest available figure, as of Sep 29, 2026).
Does Qualcomm Inc pay a dividend?
Qualcomm Inc currently shows a dividend yield of about 4.36% relative to its recent price (as of Sep 29, 2026).
What is the intrinsic value of Qualcomm Inc (QCOM34)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Qualcomm Inc it is R$96.44 per share (as of Sep 29, 2026), against a price of R$81.59. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Qualcomm Inc stock overvalued or undervalued in 2026?
As of Sep 29, 2026, QCOM34 trades below its calculated fair value: price R$81.59, fair value R$96.44, a gap of about +18% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of QCOM34?
No. The price is what the market pays today (R$81.59); the fair value is what the company's own numbers justify (R$96.44). For Qualcomm Inc the two are R$14.85 per share apart. That gap is exactly why we show both numbers side by side.
How much is Qualcomm Inc worth?
The market values Qualcomm Inc at about R$943B (market capitalisation, as of Sep 29, 2026). Per share that is R$81.59; our models calculate a fair value of R$96.44 per share.
What do the bullish and bearish scenarios say about QCOM34?
Our models span a range for Qualcomm Inc: cautious scenario R$67.06, base R$96.44, optimistic R$131.84 per share (as of Sep 29, 2026, price R$81.59). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of QCOM34?
Qualcomm Inc trades at a price-to-earnings ratio of 20.3 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$96.44 is built from several models across several years. Other multiples: PEG 0.6.
What is the PEG ratio of QCOM34?
The PEG ratio of Qualcomm Inc is 0.55 (P/E divided by earnings growth, as of Sep 29, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Qualcomm Inc (QCOM34)?
Balance-sheet figures for Qualcomm Inc (as of Sep 29, 2026): return on equity 36.1%, debt of 0.70 per unit of equity. They feed the Quality Score of 85/100, which measures business quality independently of the share price.
How far is QCOM34 from its 52-week high?
Qualcomm Inc trades at R$81.59, about 22% below its 52-week high of R$105.23 and 54% above the low of R$53.00 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of R$96.44 is for.
Which stocks are comparable to Qualcomm Inc?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Qualcomm Inc stock attractive at the current price?
The data as of Sep 29, 2026: price R$81.59, calculated fair value R$96.44 (+18%), Quality Score 85/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of QCOM34 calculated?
We run Qualcomm Inc through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$96.44, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Qualcomm Inc currently trades 15 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Qualcomm Inc (QCOM34)?
The closing price on Oct 2, 2026 was R$81.59. Our model-based fair value is R$96.44, about +18% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Qualcomm Inc right now?
A fairly wide model range (R$67.06 to R$131.84) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Qualcomm Inc

How large is the market capitalisation of Qualcomm Inc (QCOM34)?
The market capitalisation of Qualcomm Inc is R$943B (≈ $181B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Qualcomm Inc (QCOM34)?
The price-to-sales ratio of Qualcomm Inc is 2.54 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Qualcomm Inc (QCOM34)?
Earnings per share at Qualcomm Inc are R$4.02 (price ÷ EPS = P/E 20.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Qualcomm Inc (QCOM34)?
The dividend yield of Qualcomm Inc is 4.4% (payout 88.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Qualcomm Inc (QCOM34)?
The net margin of Qualcomm Inc is 12.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Qualcomm Inc (QCOM34)?
The return on equity (ROE) of Qualcomm Inc is 36.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Qualcomm Inc (QCOM34)?
On an EBIT basis the return on assets of Qualcomm Inc is 22.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Qualcomm Inc (QCOM34)?
The operating margin of Qualcomm Inc is 22.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Qualcomm Inc (QCOM34)?
Revenue at Qualcomm Inc is growing −3.5% versus a year earlier (3y avg +0.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Qualcomm Inc (QCOM34)?
Earnings per share at Qualcomm Inc are growing +173% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Qualcomm Inc (QCOM34) generate?
The free cash flow of Qualcomm Inc is $12.8B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Qualcomm Inc (QCOM34) carry?
The net debt of Qualcomm Inc is $9.3B (fiscal year 2025, ≈ 0.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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