Q financial statements

The full income statement, balance sheet, and cash-flow statement for Qnity Electronics Inc. (Q), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2025-12 209.7M2026-03 209.3M2026-06 209.2M-0.2% over 2 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23
Revenue	4.75B YoY+9.7%	4.33B YoY+7.4%	4.04B
Cost of revenue	2.56B YoY+9.4%	2.34B YoY+2.6%	2.28B
Research & development	354M YoY+12.7%	314M YoY+3.6%	303M
Selling, general & administrative	620M YoY+2.8%	603M YoY+13.1%	533M
Restructuring	20.0M YoY+150.0%	8.00M YoY-84.6%	52.0M
Amortization of intangibles	207M YoY-10.8%	232M YoY-11.5%	262M
Interest expense	65.0M	0.00	0.00
Interest & investment income	4.00M	0.00	0.00
Other non-operating income	3.00M YoY+0.0%	3.00M YoY-50.0%	6.00M
Equity-method income	47.0M YoY+27.0%	37.0M YoY+131.3%	16.0M
Pre-tax income	962M YoY+6.8%	901M YoY+42.6%	632M
Income tax	233M YoY+31.6%	177M YoY+78.8%	99.0M
	692M YoY-0.1%	693M YoY+36.7%	507M
Net income to non-controlling interest	37.0M YoY+19.4%	31.0M YoY+19.2%	26.0M
Net income to common	692M YoY-0.1%	693M YoY+36.7%	507M
	$3.30 YoY-0.3%	$3.31 YoY+36.8%	$2.42
EPS (basic)	$3.30 YoY-0.3%	$3.31 YoY+36.8%	$2.42
	210M YoY+0.1%	209M YoY+0.0%	209M
	210M YoY+0.2%	209M YoY+0.0%	209M
Dividends per share	$0.14	—	—
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23
	2.64B YoY+77.9%	1.48B	—
Cash & equivalents	915M YoY+451.2%	166M	—
Accounts receivable	656M YoY+13.1%	580M	—
Inventory	661M YoY+10.7%	597M	—
Prepaid expenses	70.0M YoY+84.2%	38.0M	—
	14.1B YoY+14.6%	12.3B	—
Operating lease right-of-use	493M YoY+288.2%	127M	—
Goodwill	7.52B YoY+1.9%	7.38B YoY-1.0%	7.46B
Intangible assets	1.11B YoY-13.6%	1.29B	—
Deferred tax assets	42.0M YoY+0.0%	42.0M	—
Other non-current assets	654M YoY+363.8%	141M	—
	1.36B YoY+61.6%	839M	—
Accounts payable	680M YoY+28.8%	528M	—
Accrued liabilities	502M YoY+234.7%	150M	—
Deferred revenue	1.00M YoY+0.0%	1.00M	—
Short-term & current debt	24.0M	0.00	—
Current lease liability	43.0M YoY+43.3%	30.0M	—
	6.70B YoY+386.9%	1.38B	—
Long-term debt	4.10B	0.00	—
Deferred revenue (non-current)	46.0M YoY+31.4%	35.0M	—
Non-current lease liability	455M YoY+355.0%	100M	—
Operating lease liability (total)	498M YoY+283.1%	130M	—
Deferred tax liabilities	273M YoY+5.4%	259M	—
Other non-current liabilities	992M YoY+363.6%	214M	—
	7.09B YoY-33.3%	10.6B YoY-4.8%	11.2B
Preferred stock	2.00M	0.00	—
Common stock	2.00M	0.00	—
Additional paid-in capital	7.29B	0.00	—
Retained earnings	18.0M	0.00	—
Accumulated other comprehensive income	-213M YoY+48.6%	-414M	—
Non-controlling interest	271M YoY+7.5%	252M	—
Total equity incl. non-controlling	7.37B YoY-32.4%	10.9B YoY-2.6%	11.2B
Total liabilities & equity	14.1B YoY+14.6%	12.3B	—
	209M	—	—
	210M	—	—
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23
	1.27B YoY+20.0%	1.06B YoY+20.3%	882M
Depreciation & amortization	376M YoY-4.6%	394M YoY-2.2%	403M
Intangible amortization	207M YoY-10.8%	232M YoY-11.5%	262M
Share-based compensation	20.0M YoY+53.8%	13.0M YoY+0.0%	13.0M
Deferred income taxes	-79.0M YoY+2.5%	-81.0M YoY-2.5%	-79.0M
Change in payables	119M YoY+52.6%	78.0M YoY+244.4%	-54.0M
	-285M YoY-65.7%	-172M YoY+23.9%	-226M
Capital expenditure	285M YoY+42.5%	200M YoY-13.4%	231M
Free cash flow	988M YoY+14.8%	861M YoY+32.3%	651M
Acquisitions	0.00	0.00	0.00
Other investing activities	0.00 YoY+100.0%	-13.0M	0.00
	-248M YoY+70.8%	-848M YoY-35.0%	-628M
Long-term debt issued	4.10B	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00
Common stock issued	1.00M	0.00	0.00
Common stock repurchased	0.00	0.00	0.00
Dividends paid	13.0M	0.00	0.00
Net change in cash	749M YoY+2674.1%	27.0M YoY+12.5%	24.0M
Income taxes paid	94.0M	—	—
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23
Market cap	17.1B	—	—
P/E	24.7×	—	—
P/S	3.6×	—	—
P/B	2.4×	—	—
P/FCF	17.3×	—	—
	4.0%	—	—
	5.8%	—	—
	0.17%	—	—
Source filing	10-K	10-K	10-K

About this data

Source: Q's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all Q filings on SEC EDGAR → Not investment advice.