Qnity Electronics, Inc. (Q)
Qnity Electronics, Inc. provides materials and solutions to the semiconductor and electronics industries in the United States, rest of Americas, Europe, the Middle East, Africa, Asia Pacific, China, South Korea, Taiwan, and internationally. The company operates in two segments, Semiconductor Technologies and Interconnect Solutions. Its Semiconductor Technologies segment offers chemical mechanical planarization (CMP) pads and slurries, photoresists, functional sub-layers, advanced overcoats, post-CMP cleaners, post-etch residue removers, and emerging cleans. The Interconnect Solutions segment provides copper pillar plating, copper redistribution layer, solder bump plating, under bump metallization, photoresists, packaging dielectrics, gap fillers, phase change, specialty thermal interface materials, thermally conductive insulators, copper plating solutions, dry film photoresists, and laminates and polyimide films. The company was formerly known as Novus SpinCo 1, Inc. and changed its name to Qnity Electronics, Inc. in April 2025. The company was incorporated in 2024 and is headquartered in Wilmington, Delaware.
- Ticker
- Q
- Exchange
- NYSE
- Sector
- Technology
- Industry
- Semiconductor Equipment & Materials
- Market cap
- $24.50B
- 52-week range
- $72.81 - $177.28
Valuation
- Share price
- $117.00 (close of Nov 6, 2026)
- P/E (TTM)
- 44.15x
- Price to book
- 3.11x
- Price to free cash flow
- 31.53x
- Enterprise value
- $27.39B
- Book value per share
- $37.67
Price performance
| Period | Change |
|---|---|
| 1 day | +6.32% |
| 5 days | +0.28% |
| 1 month | -12.44% |
| 3 months | -12.27% |
| 6 months | -21.71% |
| Year to date | +43.29% |
| 1 year | +25.36% |
| All time | +22.77% |
Short interest
- As of
- Oct 15, 2026
- Short % of float
- 2.30%
- Shares short
- 4.17M
- Days to cover
- 2.81
- Change since prior report
- -8.73%
- Source
- FINRA consolidated short interest
Members of Congress who disclosed Q trades
Alan Armstrong · Debbie Dingell · Gilbert Ray Cisneros
Super investors holding Q
Henry Ellenbogen (Durable Capital Partners LP) · Ken Griffin (Citadel) · Stanley Druckenmiller (Duquesne Family Office) · Ray Dalio (Bridgewater Associates) · Dodge & Cox (Dodge & Cox Funds) · Lee Ainslie (Maverick Capital LTD)
Profitability and growth
- Return on equity
- 9.90%
- Return on invested capital
- 6.97%*
- Return on assets
- 5.18%
- Return on capital employed
- 8.08%*
- Gross margin
- 46.17%
- Net margin
- 15.33%
- EBITDA margin
- 29.51%
- Revenue growth
- 9.67%
- Net income growth
- 0.69%
- Free cash flow growth
- 14.75%
* Estimated EBIT: pre-tax income + net interest. This company reports no operating income line.
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 3.17%
- Current ratio
- 2.09x
- Net debt to EBITDA
- 1.96x
Latest reported year
- Period end
- Dec 31, 2025
- Fiscal year
- 2025
- Revenue
- $4.75B
- Cost of revenue
- $2.56B
- Gross profit
- $2.19B
- EBITDA
- $1.40B
- Net income
- $729.00M
- Earnings per share
- $3.30
- Research and development
- $354.00M
- Interest expense
- $65.00M
- Shares outstanding
- 209.60M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|---|---|---|---|
| 2025-12-31 | $4.75B | $2.19B | $729.00M | $3.30 |
| 2024-12-31 | $4.33B | $2.00B | $724.00M | $3.31 |
| 2023-12-31 | $4.04B | $1.75B | $533.00M | $2.42 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|---|---|---|---|
| 2025-12-31 | 46.17% | 15.33% | 9.90% | 6.97%* |
| 2024-12-31 | 46.04% | 16.70% | 6.64% | 6.57%* |
| 2023-12-31 | 43.49% | 13.21% | 4.77% | - |
* Estimated EBIT: pre-tax income + net interest. This company reports no operating income line.
Cash and debt by year
| Period end | Cash | Debt |
|---|---|---|
| 2025-12-31 | $915.00M | $4.10B |
| 2024-12-31 | $166.00M | - |
| 2023-12-31 | $139.00M | - |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | $988.00M | $20.00M |
| 2024-12-31 | $861.00M | $13.00M |
| 2023-12-31 | $651.00M | $13.00M |
| 2022-12-31 | $951.00M | $12.00M |
Dividend history
- Most recent payment
- Aug 31, 2026
- Paid in the last twelve months
- $0.30
| Payment date | Dividend per share |
|---|---|
| 2026-08-31 | $0.08 |
| 2026-05-29 | $0.08 |
| 2026-02-27 | $0.08 |
| 2025-11-28 | $0.06 |
Investor relations
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-11-04 | Sep 2026 | $1.18 |
| 2026-08-04 | Jun 2026 | $1.07 |
| 2026-05-12 | Mar 2026 | $0.92 |
| 2026-02-26 | Dec 2025 | $0.65 |
| 2025-11-18 | Sep 2025 | $0.69 |
Filings and sources
- Company website
- qnityelectronics.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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