How do Qualcomm and Smurfit Westrock compare by revenue?

Qualcomm reported revenue of $10.6B in Q2 FY2026, while Smurfit Westrock reported $7.7B in Q1 FY2026. Qualcomm is 1.4× larger by last-quarter revenue.

Which is growing revenue faster, Qualcomm or Smurfit Westrock?

Qualcomm's latest revenue grew -3.5% year-over-year, versus 0.7% for Smurfit Westrock. Smurfit Westrock is growing faster on a YoY basis.

Which has a higher gross margin, Qualcomm or Smurfit Westrock?

Qualcomm's gross margin is 53.8% vs Smurfit Westrock's 16.4%. Qualcomm converts more of each revenue dollar into gross profit.

Which has a higher net margin, Qualcomm or Smurfit Westrock?

Qualcomm's net margin is 69.5% vs Smurfit Westrock's 0.8%. Qualcomm has the higher bottom-line margin.

What is the 2-year revenue CAGR for Qualcomm vs Smurfit Westrock?

Over the trailing 8 quarters, Qualcomm compounded revenue at roughly 6.2% per year, versus 61.2% for Smurfit Westrock. Smurfit Westrock has the faster medium-term growth trajectory.

Where does this QCOM vs SW data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of Qualcomm (QCOM) and Smurfit Westrock (SW). Click either name above to swap in a different company.

Qualcomm is the larger business by last-quarter revenue ($10.6B vs $7.7B, roughly 1.4× Smurfit Westrock). Qualcomm runs the higher net margin — 69.5% vs 0.8%, a 68.7% gap on every dollar of revenue. On growth, Smurfit Westrock posted the faster year-over-year revenue change (0.7% vs -3.5%). Over the past eight quarters, Smurfit Westrock's revenue compounded faster (61.2% CAGR vs 6.2%).

QualcommQCOMEarnings & Financial Report

Nasdaq · Information Technology · Semiconductors

Qualcomm Incorporated is an American multinational corporation headquartered in San Diego, California, and incorporated in Delaware. It creates semiconductors, software and services related to wireless technology. It owns patents critical to the 5G, 4G, CDMA2000, TD-SCDMA and WCDMA mobile communications standards.

Smurfit WestrockSWEarnings & Financial Report

NYSE · Materials · Paper & Plastic Packaging Products & Materials

Smurfit Westrock plc is an Irish company based in Dublin, Ireland that manufactures corrugated and paper-based packaging. Its stock is listed on the New York Stock Exchange and the London Stock Exchange.

QCOM vs SW — Head-to-Head

Bigger by revenue

QCOM

1.4× larger

$10.6B

$7.7B

Growing faster (revenue YoY)

+4.2% gap

0.7%

-3.5%

Higher net margin

QCOM

68.7% more per $

69.5%

0.8%

Faster 2-yr revenue CAGR

Annualised

61.2%

6.2%

Income Statement — Q2 FY2026 vs Q1 FY2026

Metric	QCOM	SW
Revenue	$10.6B	$7.7B
Net Profit	$7.4B	$63.0M
Gross Margin	53.8%	16.4%
Operating Margin	21.8%	3.3%
Net Margin	69.5%	0.8%
Revenue YoY	-3.5%	0.7%
Net Profit YoY	—	0.0%
EPS (diluted)	$6.88	$0.12

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue

QCOM

Q1 26	$10.6B	$7.7B
Q4 25	$12.3B	$7.6B
Q3 25	$11.3B	$8.0B
Q2 25	$10.4B	$7.9B
Q1 25	$11.0B	$7.7B
Q4 24	$11.7B	$7.5B
Q3 24	$10.2B	$7.7B
Q2 24	$9.4B	$3.0B

Net Profit

QCOM

Q1 26	$7.4B	$63.0M
Q4 25	$3.0B	$97.0M
Q3 25	$-3.1B	$246.0M
Q2 25	$2.7B	$-28.0M
Q1 25	$2.8B	$384.0M
Q4 24	$3.2B	$146.0M
Q3 24	$2.9B	$-150.0M
Q2 24	$2.1B	$132.0M

Gross Margin

QCOM

Q1 26	53.8%	16.4%
Q4 25	54.6%	18.2%
Q3 25	55.3%	19.6%
Q2 25	55.6%	19.1%
Q1 25	55.0%	20.6%
Q4 24	55.8%	19.1%
Q3 24	56.4%	17.6%
Q2 24	55.6%	23.3%

Operating Margin

QCOM

Q1 26	21.8%	3.3%
Q4 25	27.5%	5.1%
Q3 25	25.9%	6.6%
Q2 25	26.6%	3.2%
Q1 25	28.4%	7.2%
Q4 24	30.5%	5.3%
Q3 24	25.2%	0.7%
Q2 24	23.6%	8.2%

Net Margin

QCOM

Q1 26	69.5%	0.8%
Q4 25	24.5%	1.3%
Q3 25	-27.7%	3.1%
Q2 25	25.7%	-0.4%
Q1 25	25.6%	5.0%
Q4 24	27.3%	1.9%
Q3 24	28.5%	-2.0%
Q2 24	22.7%	4.4%

EPS (diluted)

QCOM

Q1 26	$6.88	$0.12
Q4 25	$2.78	$0.18
Q3 25	$-2.77	$0.47
Q2 25	$2.43	$-0.05
Q1 25	$2.52	$0.73
Q4 24	$2.83	$-0.12
Q3 24	$2.57	$-0.30
Q2 24	$1.88	$0.51

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	QCOM	SW
Cash + ST InvestmentsLiquidity on hand	$5.4B	—
Total DebtLower is stronger	$15.3B	$980.0M
Stockholders' EquityBook value	$27.3B	$18.1B
Total Assets	$57.1B	$45.2B
Debt / EquityLower = less leverage	0.56×	0.05×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

QCOM

Q1 26	$5.4B	—
Q4 25	$11.8B	$892.0M
Q3 25	$10.2B	$851.0M
Q2 25	$10.0B	$778.0M
Q1 25	$13.8B	$797.0M
Q4 24	$14.3B	$855.0M
Q3 24	$13.3B	—
Q2 24	$13.0B	$26.8K

Total Debt

QCOM

Q1 26	$15.3B	$980.0M
Q4 25	$14.8B	$13.4B
Q3 25	$14.8B	$13.3B
Q2 25	$14.8B	$13.3B
Q1 25	$13.3B	$12.9B
Q4 24	$13.2B	$12.5B
Q3 24	$13.3B	$13.2B
Q2 24	$13.2B	—

Stockholders' Equity

QCOM

Q1 26	$27.3B	$18.1B
Q4 25	$23.1B	$18.3B
Q3 25	$21.2B	$18.4B
Q2 25	$27.2B	$18.3B
Q1 25	$27.7B	$17.9B
Q4 24	$26.9B	$17.4B
Q3 24	$26.3B	$18.0B
Q2 24	$24.7B	$14.5K

Total Assets

QCOM

Q1 26	$57.1B	$45.2B
Q4 25	$53.0B	$45.2B
Q3 25	$50.1B	$45.6B
Q2 25	$54.9B	$45.7B
Q1 25	$55.4B	$44.6B
Q4 24	$55.6B	$43.8B
Q3 24	$55.2B	$45.0B
Q2 24	$52.7B	$26.8K

Debt / Equity

QCOM

Q1 26	0.56×	0.05×
Q4 25	0.64×	0.73×
Q3 25	0.70×	0.72×
Q2 25	0.54×	0.73×
Q1 25	0.48×	0.72×
Q4 24	0.49×	0.72×
Q3 24	0.51×	0.73×
Q2 24	0.53×	—

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric	QCOM	SW
Operating Cash FlowLast quarter	$7.4B	$204.0M
Free Cash FlowOCF − Capex	—	—
FCF MarginFCF / Revenue	—	—
Capex IntensityCapex / Revenue	10.2%	—
Cash ConversionOCF / Net Profit	1.01×	3.24×
TTM Free Cash FlowTrailing 4 quarters	—	—