Qnity Electronics (Q) stock
Information Technology · Semiconductor Materials & Equipment
Qnity Electronics (Q) is a Semiconductor Materials & Equipment company in the Information Technology sector, headquartered in Wilmington, Delaware. As of October 23, 2026, Q closed at $109.83, a market capitalization of $22.98 billion, the 378th largest company in the S&P 500. Over the last twelve months it generated $5.21 billion in revenue (+22% year over year) and $825.00 million in free cash flow. The stock trades at 39.2x trailing earnings and 20.0x forward earnings.
- 52-week range: $70.50 – $177.28
- Gross margin 46.2%, operating margin 22.3%
- Dividend yield: 0.29%
- FI Handbook report card: C+ across 10 metrics
- 62nd largest of 75 Information Technology stocks in the S&P 500
Q key statistics
- Market cap
- $23.0B
- #378 in S&P 500
- P/E (TTM)
- 39.2x
- Forward P/E
- 20.0x
- EPS (TTM)
- $2.80
- Revenue (TTM)
- $5.2B
- +22%
- Free cash flow
- $825.0M
- Gross margin
- 46.2%
- Operating margin
- 22.3%
- Return on equity
- 6.7%
- Dividend yield
- 0.29%
- 52-week range
- $70.50 – $177.28
- Beta
- —
- Price / sales
- 4.4x
- EV / EBITDA
- 17.6x
- Debt / equity
- 0.60x
- Employees
- 10,000
Q report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth22.1%A
- Gross margin46.2%B
- Operating margin22.3%B
- FCF margin15.8%B
- Return on equity6.7%D
- Net debt / EBITDA2.3xD
- Forward P/E20.0xC
- PEG ratio1.1xB
- Shareholder yield0.3%F
- Share count change / yr0.1%C
Qnity Electronics financials
Revenue went from $4.0B in fiscal 2023 to $4.8B in fiscal 2025, growing 8.5% a year.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $4.0B | $4.3B | $4.8B |
| Gross profit | $1.8B | $2.0B | $2.2B |
| Net income | $533.0M | $724.0M | $729.0M |
| EPS (diluted) | $2.42 | $3.31 | $3.30 |
| Free cash flow | $651.0M | $861.0M | $988.0M |
| Dividends paid | $0 | $0 | $13.0M |
| Diluted shares | 209.4M | 209.4M | 209.8M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into Q?
A reverse DCF asks what growth the current price requires. With an enterprise value of $26.5B and $825.0M of trailing free cash flow, Qnity Electronics needs to grow free cash flow about 22.7% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 23.2% a year over the last five years.
P/E ratio history
Current 33.3x vs. median 36.2x (10th–90th percentile 25.5x–46.3x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
Q dividend
- Dividend yield
- 0.29%
- Annual dividend
- $0.32
- Years of increases
- —
- 5-yr dividend growth
- —
- per year
- Payout ratio
- 8%
- Payments per year
- 1
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
Q analyst price targets
10 analysts' average 12-month target is $174.20 (+59% vs. $109.83). Targets range from $150.00 to $211.00. 100% rate it a buy.
Q earnings
Next report: November 4, 2026. Qnity Electronics has beaten EPS estimates 4 quarters in a row. Last quarter's revenue was $1.4B (+22% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 4, 2026 | $1.07 | $1.19 | +11.0% |
| May 12, 2026 | $0.92 | $1.08 | +17.4% |
| Feb 26, 2026 | $0.64 | $0.82 | +28.6% |
| Nov 18, 2025 | $0.66 | $0.95 | +44.0% |
Stocks like Q
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 AMAT Applied Materials | +0.44% | +66% | $299.4B | 32.5x | Compare |
 LRCX Lam Research | -0.02% | +57% | $288.0B | 34.3x | Compare |
 KLAC KLA | -1.50% | +26% | $190.0B | 39.8x | Compare |
 TER Teradyne | +0.03% | +113% | $48.3B | 42.4x | Compare |
 NVDA NVIDIA | -0.59% | +16% | $5.1T | 26.7x | Compare |
 AAPL Apple | -0.14% | +34% | $5.1T | 39.9x | Compare |
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 AVGO Broadcom | -0.48% | -6% | $1.5T | 42.9x | Compare |
Q news
- Apple Named Qnity as a New Domestic Manufacturing Partner. This Is a Meaningful Win for Q Stock... But It Must Pass 1 More Test. · Oct 23, 2026
- Qnity is Empowering Next-Generation Smart Consumer Electronic Devices with Advanced Interconnect Innovations · Oct 21, 2026
- Semiconductors Are Becoming More Complex. This Spinoff Provides an Easy Way to Profit. · Oct 16, 2026
- Qnity Announces Fourth Quarter 2026 Dividend on Common Stock · Oct 14, 2026
- Qnity Extends Thermal Management Solutions for Advanced Memory Cooling for AI Data Centers · Oct 13, 2026
Q stock FAQ
What is Q's market cap?
Qnity Electronics's market capitalization is $22.98 billion as of October 23, 2026, ranking 378th in the S&P 500.
What is Q's P/E ratio?
Q trades at a trailing price-to-earnings ratio of 39.2x and a forward P/E of 20.0x. Its median P/E over the period we track is 36.2x.
Does Q pay a dividend?
Yes. Qnity Electronics pays $0.32 per share a year, a 0.29% yield.
Is Q stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Qnity Electronics must grow free cash flow about 23% a year for the next decade. Its free cash flow grew 23% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the Q price target?
10 analysts cover Q with an average 12-month price target of $174.20, +59% from the current price. 100% of them rate it a buy.
When does Q report earnings?
Qnity Electronics is expected to report earnings on November 4, 2026. It has beaten EPS estimates 4 quarters in a row.
How many employees does Qnity Electronics have?
Qnity Electronics has about 10,000 full-time employees, or $521,000 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology