Individual Fin202

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Individual Assignment
Corporate Finance (FIN202)

Student: Dinh Hong Quan
Roll number: FB00117
Class: FB0609
Lecture: HaPL

11/19/2012
Qualcomm Inc.
I. Introduction:
1. Overview:
* QUALCOMM Incorporated (QCOM)
* Website: http://www.qualcomm.com/
* Headquartered in San Diego, CA, USA, the company has 157 worldwide locations. * Qualcomm Incorporated is an American global semiconductor company that designs, manufactures and markets digital wireless telecommunications products and services. * It was founded in 1985 by MIT alumnus and Irwin Jacobs’s professors. Qualcomm's first products and services included the OmniTRACS satellite locating and messaging service, used by long-haul trucking companies.

2. Mission and vision:
Qualcomm Ventures (QCV) was formed and began funding in 2000, with a $500-million fund commitment to make strategic investments in early-stage high-technology ventures. Since then, QCV has funded numerous companies in the wireless sector, and set up several exclusive regional funds to spur development in key strategic markets. QCV's strong relationships with leading cellular operators, applications developers and OEMs provide unique support for the companies in its portfolio. Combined with QCV's established connections in the VC community and access to wireless technology experts, these relationships provide the foundation for success, growth, and an appropriate exit strategy for portfolio companies. Today, Qualcomm plays a central role in the rapid adoption and growth of 3G and next-generation wireless around the world. Qualcomm has an extensive portfolio of United States and foreign patents, and we continue to pursue patent applications around the world. Our patent portfolio is the most widely and extensively licensed portfolio in the industry with over 195 licensees. II. Analysis of the company:

1. Common-sized for Qualcomm:
a. Common-sized balance sheet:
 | 2011| 2010| 2009|
|  | % of Assets|  | % of Assets|  | % of Assets| Assets|
 | Cash and cash equivalent| 5,462| 15.00%| 3,547| 11.60%| 2,717| 9.90%|  | Marketable securities| 6,190| 17.00%| 6,732| 22.02%| 8,352| 30.43%|  | Account receivable, net| 993| 2.73%| 730| 2.39%| 700| 2.55%|  | Inventories| 765| 2.10%| 528| 1.73%| 453| 1.65%|  | Deferred tax assets| 537| 1.47%| 321| 1.05%| 149| 0.54%|  | Other current assets| 346| 0.95%| 275| 0.90%| 199| 0.73%|  | Total current assets| 14,293| 39.24%| 12,133| 39.69%| 12,570| 45.80%|  | Marketable securities| 9,261| 25.43%| 8,123| 26.57%| 6,673| 24.31%|  | Deferred tax assets| 1,703| 4.68%| 1,922| 6.29%| 843| 3.07%|  | Assets held for sale| 746| 2.05%|  |  |  |  |  | Property, plant and equipment, net| 2,414| 6.63%| 2,373| 7.76%| 2,387| 8.70%|  | Goodwill| 3,432| 9.42%| 1,488| 4.87%| 1,492| 5.44%|  | Other intangible assets, net| 3,099| 499.84%| 3,022| 9.88%| 3,065| 11.17%|  | Other assets| 1,474| 4.05%| 1,511| 4.94%| 415| 1.51%|  | Total assets| 36,422| 100.00%| 30,572| 100.00%| 27,445| 4667.52%| Liabilities and stockholders' equity|

 | Trade accounts payable| 969| 2.66%| 764| 2.50%| 636| 2.32%|  | Payroll and other benefits related liabilities| 644| 1.77%| 467| 1.53%| 480| 1.75%|  | Unearned revenues| 610| 1.67%| 623| 2.04%| 441| 1.61%|  | Loan payable to banks| 994| 2.73%| 1,086| 3.55%|  | 0.00%|  | Income taxes payable| 18| 0.05%| 1,443| 4.72%| 47| 0.17%|  | Other current liabilities| 2,054| 5.64%| 1,085| 3.55%| 1,256| 4.58%|  | Total current liabilities| 5,289| 14.52%| 5,468| 17.89%| 2,860| 10.42%|  | Unearned revenues| 3,541| 9.72%| 3,485| 11.40%| 3,464| 12.62%|  | Other liabilities| 620| 1.70%| 761| 2.49%| 805| 2.93%|  | Total liabilities| 9,450| 25.95%| 9,714| 31.77%| 7,129| 25.98%|  | Paid-in capital|...
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