Market Pulse50Neutral

QUALCOMM IncorporatedOpportunity Rank #49(QCOM) Intrinsic Value & DCF Analysis (2026)

Sector: Technology

Current Price

$131.15

Last updated: Mar 13, 2026

Price vs Intrinsic Value

$131.15
Price
$230.06
Intrinsic Value
Undervalued by 75%MOS: $184.05

Fundamental Score

78/100
Bullish

Weighted across 6 signals

Narrative Score

45/100
Weak

No change vs previous

The intrinsic value of QUALCOMM Incorporated (QCOM) is estimated at $230.06 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $131.15, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 4.03% long-term growth rate and a 9.33% discount rate, reflecting expected future free cash flow and cost of capital.

The intrinsic value of QUALCOMM Incorporated (QCOM) is estimated at $230.06 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $131.15, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 4.03% long-term growth rate and a 9.33% discount rate, reflecting expected future free cash flow and cost of capital.

Valuation Details

$230.06
▲ 75.42% upside
20% margin of safety: $184.05
Years: 10Growth Rate: 4.03%
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Capital Efficiency

Average Quarterly ROIC
3.89%
Cost of Capital (estimated)9%
Value StatusUnderperforming Capital

The company is earning below its required return. This may indicate inefficient use of capital or excess cash that isn't being reinvested.

Complete historical ROIC is available with
.

Fundamental Details

78/100
BullishWeighted across 6 signals
DCF Discount
75.4% discount to price
100
FCF Yield
11.3% trailing FCF yield
100
ROIC vs WACC
ROIC 3.9% vs WACC 9.0% (0.4x)
22
Net Debt / FCF
0.2x net debt to FCF
96
Buybacks
Share count shrinking
80
FCF CAGR (5Y)
17.0% 5Y FCF CAGR
100
Strengths: DCF Discount, FCF Yield. Concerns: ROIC vs WACC.

Narrative Details

45/100
Weak
Weighted across 6 recent drivers
Trend: Improving upConfidence: 99%Updated: 1d ago
Sources: 215 (200 News · 15 Analyst)
Drivers(last 30 days)
3 downgrade headlines-0.5
136 news sentiment-0.4
50 regulatory scrutiny+0.2
2 analyst upgrades+0.1
2 upgrade headlines+0.1
Legal risk-0.0

Investment Coach

Updating... 1d ago
BUYConfidence: 62%
Thesis
QUALCOMM Incorporated is undervalued with an estimated fair value 76.1% above its current price, supported by strong fundamentals including a healthy free cash flow yield of 11.3%. Despite trailing returns relative to its cost of capital, the company's improving narrative and robust fundamental scores suggest potential for significant upside.
Key Risk
The key risk is the negative spread between ROIC and WACC, indicating returns are currently below the company's cost of capital.
Signals To Watch
  • Monitor whether valuation discount remains above 10%.
  • Track ROIC versus WACC spread for sustained improvement.
  • Follow narrative trend for meaningful shifts in score direction.
Ask the Coach - Available with
Historical Growth Rates
Free Cash Flow- - -Trend CAGR: 4.03%5 Year CAGR: 5.00%

Free Cash Flow (in millions)

TTM20252024202320222021202020192018201720162015201420132012201120102009200820072006
$15,854$15,204$13,243$12,749$11,358$12,424$7,221$8,173$4,679$5,383$7,939$6,500$10,072$9,826$7,282$5,493$4,502$7,933$4,955$4,629$3,938

How Intrinziq Estimates Fair Value

Intrinziq estimates QUALCOMM Incorporated's intrinsic value using a discounted cash flow (DCF) model based on free cash flow trends and a market-based discount rate. The model projects future cash flows over ten years and discounts them using a market return assumption to estimate fair value.

QUALCOMM IncorporatedTechnology

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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 based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system 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 CDMA2000, WCDMA,LTE and/or OFDMA-based 5G standards and their derivatives. The QSI segment invests in early-stage companies in various industries, including 5G, artificial intelligence, automotive, consumer, enterprise, cloud, and IoT, and investment for supporting the design and introduction of new products and services for voice and data communications, new industries, and applications. It also provides development, and other services and related products to the United States government agencies and their contractors. QUALCOMM Incorporated was incorpotared in 1985 and is headquartered in San Diego, California.