Qualcomm Incorporated (QCOM)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	15,100,000	14,484,000	14,900,000	15,100,000	15,431,000	13,537,000	13,600,000	15,500,000	16,900,000	13,701,000	17,000,000	16,600,000	17,700,000	15,226,000	15,425,000	16,700,000	16,600,000	13,437,000	13,426,000	15,405,000
Total assets	US$ in thousands	52,135,000	51,040,000	49,002,000	48,362,000	50,014,000	49,014,000	47,020,000	44,302,000	42,820,000	41,240,000	38,769,000	37,168,000	37,479,000	35,594,000	32,328,000	31,938,000	33,111,000	32,957,000	34,133,000	34,023,000
Debt-to-assets ratio		0.29	0.28	0.30	0.31	0.31	0.28	0.29	0.35	0.39	0.33	0.44	0.45	0.47	0.43	0.48	0.52	0.50	0.41	0.39	0.45

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $15,100,000K ÷ $52,135,000K
= 0.29

Qualcomm's debt-to-assets ratio has fluctuated over the past few years, ranging from 0.28 to 0.52. The ratio indicates the proportion of the company's assets financed by debt, with a higher ratio suggesting higher financial leverage. In general, Qualcomm's debt-to-assets ratio has been somewhat volatile, with some quarters showing a higher level of debt relative to assets, especially in the latter half of 2020 and early 2021. However, there has been some moderation in the ratio in recent quarters, indicating a potential improvement in the company's debt management strategy. The ratio of 0.29 at Dec 31, 2023, is relatively low compared to historical levels, suggesting that Qualcomm has been effectively managing its debt levels and maintaining a sound financial position relative to its assets.