The latest data point for QCOM's Operating ROA metrics in Q2'26 shows ROE at 27.0%, ROA at 12.9%, and ROIC at 4.8%, indicating a robust recovery in profitability efficiency, particularly for ROE which has reached its highest level in the observed period. This uptick follows a challenging Q4'25 where all metrics dipped into negative territory, with ROA at -6.2% and ROE at -14.7%. Over the period from Q3'23 to Q2'26, ROE, ROA, and ROIC have exhibited volatile but generally improving trends, fluctuating between 2.9% and 12.0% for ROA in the early quarters before the Q4'25 downturn and subsequent rebound. Key inflection points include peaks in Q1'24 (ROA at 5.3%, ROIC at 7.6%) and Q1'25 (ROE at 11.8%, ROIC at 8.1%), highlighting periodic enhancements in asset utilization and capital returns, though ROIC has shown the most stability with an overall upward bias post-Q4'25. The line chart underscores QCOM's resilience in operational returns amid sector pressures. ## Analysis Summary - **Latest Metrics**: Strong ROE (27.0%) leads recovery in Q2'26. - **Trend Insight**: Volatile improvement from Q3'23, with Q4'25 as a notable low point.