Qualcomm vs Texas Instruments
Qualcomm reported revenue of $44.3 billion in fiscal 2025, 2.5 times Texas Instruments' $17.7 billion in fiscal 2025. Qualcomm's revenue grew 13.7% in its latest year, and Texas Instruments' grew 13.1%. Qualcomm had an operating margin of 27.9%, against 34.1% at Texas Instruments. Free cash flow was $12.8 billion at Qualcomm and $2.6 billion at Texas Instruments. Their fiscal years end in different months (September 28 and December 31), so the periods don't line up exactly.
Side by side
| Qualcomm | Texas Instruments | |
|---|---|---|
| Latest fiscal year | FY2025, Sep 28, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $44.3B | $17.7B |
| Revenue growth | 13.7% | 13.1% |
| Revenue growth a year, last 5 years | 13.5% | 4.1% |
| Gross margin | 55.4% | 57.0% |
| Operating margin | 27.9% | 34.1% |
| Net margin | 12.5% | 28.3% |
| Free cash flow | $12.8B | $2.6B |
| Free cash flow margin | 28.9% | 14.7% |
| Return on capital | 23.7% | 21.8% |
| Net debt to EBITDA | 0.3x | 1.1x |
| Dividends and buybacks | $12.6B | $6.5B |
| Change in diluted share count | −2.2% | −0.7% |
| Last close | $179.60 | $298.12 |
| P/E at the last close | 20.5× | 38.7× |
| Insider trades, last 12 months | sold $21.6 million | sold $119.0 million |
| Piotroski F-score | 6 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
QualcommTexas Instruments
Operating margin
Percent of revenue
QualcommTexas Instruments
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
QualcommTexas Instruments
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Qualcomm and Texas Instruments pages.