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