Market Pulse59Neutral

QUALCOMM IncorporatedOpportunity Rank #91(QCOM) Intrinsic Value & DCF Analysis (2026)

Sector: Technology

Current Price

$202.55

Last updated: May 08, 2026

Price vs Intrinsic Value

$202.55
Price
$206.57
Intrinsic Value
Undervalued by 2%MOS: $165.26

Fundamental Score

73/100
Bullish

Weighted across 6 signals

Narrative Score

79/100
Strong

No change vs previous

Trend Score

96/100
Strong

As of 2026-05-08

The intrinsic value of QUALCOMM Incorporated (QCOM) is estimated at $206.57 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $202.55, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 4.04% long-term growth rate and a 10.15% discount rate, reflecting expected future free cash flow and cost of capital.

The intrinsic value of QUALCOMM Incorporated (QCOM) is estimated at $206.57 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $202.55, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 4.04% long-term growth rate and a 10.15% discount rate, reflecting expected future free cash flow and cost of capital.

Valuation Details

$206.57
1.98% upside
20% margin of safety: $165.26
Years: 10Growth Rate: 4.04%
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Capital Efficiency

Average Quarterly ROIC
7.38%
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

73/100
BullishWeighted across 6 signals
DCF Discount
2.0% discount to price
53
FCF Yield
7.5% trailing FCF yield
100
ROIC vs WACC
ROIC 7.4% vs WACC 9.0% (0.8x)
41
Net Debt / FCF
0.3x net debt to FCF
93
Buybacks
Share count shrinking
80
FCF CAGR (5Y)
17.3% 5Y FCF CAGR
100
Strengths lead the score: FCF Yield, Net Debt / FCF.

Narrative Details

79/100
Strong
Vs 6-Month Baseline:High (91st pct)Weighted across 6 recent drivers
Trend: StableConfidence: 100%Updated: 16h ago
Sources: 219 (200 News · 19 Analyst)
Drivers(last 30 days)
142 news sentiment+4.6
47 regulatory scrutiny+1.6
Upgrade headlines+0.6
7 downgrade headlines-0.4
2 earnings beat+0.2
4 analyst downgrades-0.1

Trend Details

96/100
StrongAs of 2026-05-08311 daily bars used
Distance from 52-Week High0.0%
3M Relative Strength vs SPY+52.7%
Price vs 50 EMA+44.7%
Price vs 21 EMA100 · +33.1%
Price vs 50 EMA100 · +44.7%
21 EMA vs 50 EMA94 · +8.8%
3M RS vs SPY100 · +52.7%
6M RS vs SPY81 · +13.0%
Distance from 52W High100 · 0.0%

Investment Coach

Updated 23h ago
BUYConfidence: 53%
Thesis
QUALCOMM Incorporated presents a bullish investment opportunity supported by a strong fundamental score of 73 and a healthy free cash flow yield of 7.5%. Despite trailing its cost of capital, the company's strong narrative score of 79 and stable trend suggest potential for value appreciation near its fair value.
Key Risk
The key risk is the negative spread between ROIC and WACC, indicating returns currently do not exceed the cost of capital.
Signals To Watch
  • Price movement to at least a mid-teens discount to fair value
  • Sustained improvement in ROIC versus WACC spread
  • Meaningful shifts in the narrative score direction
Ask the Coach - Available with
Historical Growth Rates
Free Cash Flow- - -Trend CAGR: 4.04%5 Year CAGR: 5.28%

Free Cash Flow (in millions)

TTM20252024202320222021202020192018201720162015201420132012201120102009200820072006
$16,068$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.