NVIDIA Corporation (NVDA)
NVIDIA makes the graphics processors and data-center accelerators that train and run most modern AI models. Its chips have become the default hardware of the AI boom, making it a bellwether for the entire sector.
NVDA vs QCOM: how the two businesses compare
- Bigger business: NVDA, with $215.9B of yearly revenue, about 4.9× QCOM's $44.3B.
- More profitable: NVDA keeps 56 cents of each sales dollar as profit, against 13 cents at QCOM.
- More cash from each sale: NVDA turns 48 cents of each sales dollar into operating cash flow, against 32 cents at QCOM.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
NVIDIA (NVDA) is the larger business by reported revenue: $215.9B in its fiscal year ended Jan 2026, about 4.9× QCOM's $44.3B (fiscal year ended Sep 2025). NVDA's net margin was 55.6% and QCOM's 12.5%. The SEC places them in related industries (Semiconductors & Related Devices; Radio & Tv Broadcasting & Communications Equipment), and both map to the Artificial intelligence and Tariffs & trade research themes.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Information Technology
- Different
- Separate classifications
- Different
- NVDA January 31 · QCOM September 27
- Nov 4, 2026
NVDA vs QCOM: quick comparison
| Company fact | NVDA | QCOM |
|---|---|---|
| Company | NVIDIA Corporation | QUALCOMM Incorporated |
| Exchange | NASDAQ | NASDAQ |
| Headquarters | Santa Clara, California | San Diego, California |
| Founded | 1993 | 1985 |
| SEC industry | Semiconductors & Related Devices | Radio & Tv Broadcasting & Communications Equipment |
| Fiscal year-end | January 31 | September 27 |
| Latest annual filing | 10-K · 2026-02-25 | 10-K · 2026-11-04 |
NVDA vs QCOM: audited financials
- Scale: NVDA's $215.9B of revenue is about 4.9× QCOM's $44.3B.
- Net margin: NVDA kept 55.6% of revenue as net income versus 12.5% at QCOM.
- Cash conversion: operating cash flow equalled NVDA 47.6% of revenue, or 0.86× net income; QCOM 31.6% of revenue, or 2.53× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: the fiscal years end about 4 months apart (2026-01-25 for NVDA, 2025-09-28 for QCOM), so each figure reflects somewhat different demand and cost conditions.
| Metric | NVDA | QCOM |
|---|---|---|
| Revenue | $215.9B2025-01-27 to 2026-01-25 · SEC filing | $44.3B2024-09-30 to 2025-09-28 · SEC filing |
| Net income | $120.1B2025-01-27 to 2026-01-25 · SEC filing | $5.5B2024-09-30 to 2025-09-28 · SEC filing |
| Operating cash flow | $102.7B2025-01-27 to 2026-01-25 · SEC filing | $14.0B2024-09-30 to 2025-09-28 · SEC filing |
| Diluted EPS | $4.902025-01-27 to 2026-01-25 · SEC filing | $5.012024-09-30 to 2025-09-28 · SEC filing |
| Net margin | 55.6%2025-01-27 to 2026-01-25 · SEC filing | 12.5%2024-09-30 to 2025-09-28 · SEC filing |
NVDA: FY ending 2026-01-25 · QCOM: FY ending 2025-09-28. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where NVDA and QCOM overlap, and where they don't
Overlap
- Related SEC industries: both sit in SIC major group 36.
- Shared research themes: Artificial intelligence and Tariffs & trade.
Differences
- Different four-digit SIC codes: NVDA is 3674 (Semiconductors & Related Devices); QCOM is 3663 (Radio & Tv Broadcasting & Communications Equipment).
- Offset fiscal calendars: NVDA's year ends January 31 and QCOM's September 27, about 4 months apart.
- Scale: NVDA reported about 4.9× the annual revenue of QCOM.
- Profitability: net margin of 55.6% for NVDA versus 12.5% for QCOM.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
QUALCOMM Incorporated (QCOM)
Qualcomm designs the mobile chipsets and wireless-modem technology that power much of the smartphone industry, and it licenses a deep patent portfolio. It is broadening into automotive, PCs, and on-device AI.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves NVDA
- Data Center compute and networking demand from cloud providers, AI developers and enterprises
- Revenue concentration among a limited number of partners, distributors and direct customers
- U.S. export controls, which the fiscal 2026 10-K says effectively foreclosed China's data-center compute market
- Foundry, packaging and memory supply from partners such as TSMC, concentrated in Asia
What moves QCOM
We have not yet published a company-specific driver list for QCOM. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-11-04.
The investment question
You now know NVDA reports about 4.9× QCOM's revenue, and NVDA keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to artificial intelligence and tariffs & trade, including “Data Center compute and networking demand from cloud providers, AI developers and enterprises” at NVDA, and which evidence in the next filings would prove that assumption wrong.
Members-only research
Members-only research on NVDA and QCOM
- Issue 05: NVIDIA Is Building the Credit Market for AI
NVIDIA has found a way to turn knowledge of its own roadmap into a lower cost of capital for its customers. The result could move AI infrastructure from venture equity into private credit, insurance balance sheets and securitized debt.
- Issue 07: The Vote That Knocked Almost a Quarter off Data Center Stocks
Texas has frozen new data center approvals since the summer. The vote extends that freeze, but it cannot unplug campuses that already have power. We map who is exposed, test whether the sell-off overshot and say where the real risk sits.
The thesis, the numbers behind it, and what would break it. Full access is $39 a month.
Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. NVDA's fiscal year ends January 31, while QCOM's ends September 27. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 186 matched transaction rows for NVDA and 23 matched transaction rows for QCOM. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
NVDA primary filings
QCOM primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
NVDA vs QCOM FAQs
Are NVDA and QCOM direct competitors?
Not necessarily. NVIDIA files as Semiconductors & Related Devices and QUALCOMM as Radio & Tv Broadcasting & Communications Equipment. The pair is compared because both map to the Artificial intelligence and Tariffs & trade research themes, not because the filings show head-to-head competition.
Is NVDA or QCOM the bigger company by revenue?
NVIDIA (NVDA) is the larger business by reported revenue: $215.9B in its fiscal year ended Jan 2026, about 4.9× QCOM's $44.3B (fiscal year ended Sep 2025). NVDA's net margin was 55.6% and QCOM's 12.5%. The SEC places them in related industries (Semiconductors & Related Devices; Radio & Tv Broadcasting & Communications Equipment), and both map to the Artificial intelligence and Tariffs & trade research themes. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, NVDA or QCOM?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this NVDA vs QCOM comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers NVIDIA Corporation and QUALCOMM Incorporated tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
NVDA vs QCOM compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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