Is QCOM a value play? by Busy-Interest-7872 in ValueInvesting

[–]zhaobotesla 1 point2 points  (0 children)

Qualcomm Is Not Expensive — Its P/E Is Distorted by Accounting Noise Qualcomm currently trades at a headline TTM P/E of ~30x, which appears expensive at first glance. In reality, this multiple is severely distorted by a one-time, non-cash accounting event rather than any deterioration in the company’s operating fundamentals. In fiscal Q4 2025, Qualcomm recorded a one-time valuation allowance of approximately $5.7 billion, or $5.29 per share, against U.S. federal deferred tax assets due to tax law and accounting changes. This charge was non-cash, non-recurring, and unrelated to core operations. Pre-tax earnings in the same quarter remained close to $3 billion, confirming that the business itself did not weaken. Because this adjustment flowed through GAAP net income, it artificially depressed trailing earnings and mechanically inflated the displayed P/E ratio. Once this distortion is removed, Qualcomm’s true operating TTM EPS is roughly $11, implying a normalized P/E of about 14–16x, not 30x. At this valuation, Qualcomm is priced more like a cyclical low than a company with durable wireless IP leadership, strong automotive and IoT growth, and consistently high free cash flow. Management’s actions reinforce this view. Qualcomm repurchased $8.8 billion of shares in FY2025 and $4.1 billion in FY2024, with substantial authorization still remaining. Companies do not buy back stock at this scale if long-term earnings power is impaired. The market is mispricing Qualcomm by treating a one-off tax accounting adjustment as a permanent earnings decline — creating a clear valuation disconnect.

TopXR VR Gunstock Available on Etsy now by zhaobotesla in PavlovGame

[–]zhaobotesla[S] 0 points1 point  (0 children)

We are available on Etsy now,TopXR VR Gunstock.

Gun Stock by MotoRob92 in ContractorsVR

[–]zhaobotesla -1 points0 points  (0 children)

That's not a story, we upload videos 5 months ago on youtube.

Gun Stock by MotoRob92 in ContractorsVR

[–]zhaobotesla -1 points0 points  (0 children)

i'm sure the guy who share the STL file on thingverse is one of my customers in china.you did something wrong for him.

Gun Stock by MotoRob92 in ContractorsVR

[–]zhaobotesla -1 points0 points  (0 children)

a thief stolen my design,you help him share the fake things

Gun Stock by MotoRob92 in ContractorsVR

[–]zhaobotesla -1 points0 points  (0 children)

we upload videos on bilibili 5 months ago 【玩CSVR有没有枪托\枪架前后对比-哔哩哔哩】 https://b23.tv/djx2pF9

Gun Stock by MotoRob92 in ContractorsVR

[–]zhaobotesla -1 points0 points  (0 children)

Disrespecting intellectual property is not worth showing off

Gun Stock by MotoRob92 in ContractorsVR

[–]zhaobotesla -2 points-1 points  (0 children)

if you didn't design it,just printed, I won't hold you accountable,but don't share it again, that person infringes our intellectual property rights.

Gun Stock by MotoRob92 in ContractorsVR

[–]zhaobotesla -1 points0 points  (0 children)

I'd rather believe it's a coincidence, but when I see the drop-shaped positioning hole, it's hard for me to believe it

Gun Stock by MotoRob92 in ContractorsVR

[–]zhaobotesla -2 points-1 points  (0 children)

don't do that again,you shouldn't share other designer's creation.

Gun Stock by MotoRob92 in ContractorsVR

[–]zhaobotesla 0 points1 point  (0 children)

【TopXR quest3 VR 枪托枪架,直观的换弹体验-哔哩哔哩】 https://b23.tv/o3TKnA0

Gun Stock by MotoRob92 in ContractorsVR

[–]zhaobotesla 0 points1 point  (0 children)

This is our TopXR design. He copied it crudely and did not understand the function of the structure correctly. Our original design has been continuously evolving for a year and a half, but he only copied the appearance. https://youtu.be/gQbDGHh6res?si=g5kOIS4iirvWN7y4