Upside case
Bull case
$240+42.1%
Q would need investors to value it at roughly 59x earnings — about 17x more generous than today's 41x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
Qnity Electronics, Inc. (Q) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
3
analysts
3 bullish · 0 bearish · 3 covering Q
Strong Buy
0
Buy
3
Hold
0
Sell
0
Strong Sell
0
Consensus Target
$172
+1.5% vs today
Scenario Range
$115 – $240
Model bear to bull value window
Coverage
3
Published analyst ratings
Valuation Context
41.3x
Forward P/E · Market cap $35.4B
Q price targets
Three scenarios for where Q stock could go
Current
~$169
Confidence
50 / 100
Updated
Jun 18, 2026
Where we are now
Current · $169
Bear
$115
Base
$182
Bull
$240
Market caseClosest to today
Base case
$182+7.9%
This is close to how the market is already pricing Q — at roughly 45x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
$115-32.0%
If investor confidence fades or macro conditions deteriorate, a 13x multiple contraction could push Q down roughly 32% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Qnity Electronics, Inc.
Q · NYSETechnologySemiconductorsDecember year-end
Qnity Electronics provides electronic materials and solutions for semiconductor manufacturing and advanced electronics. It generates revenue primarily from selling specialized materials to chipmakers — including photoresists, CMP slurries, and deposition precursors — which constitute its core business segments. The company's competitive advantage lies in its proprietary formulations and deep technical expertise in materials science for cutting-edge semiconductor processes.
Market Cap
$35.4B
Revenue TTM
$5.0B
Net Income TTM
$650M
Net Margin
13.1%
Q Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
7 quarters tracked
Revenue Beat Rate
100%Exceptional
vs consensus estimates
Avg EPS Surprise
+20.2%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q2 2025
EPS
$0.90/—
Revenue
$1.2B/—
Q4 2025
EPS
$0.74/$0.66
Revenue
$1.3B/$1.2B
Q1 2026
EPS
$0.82/$0.63
Revenue
$1.2B/$1.2B
Q2 2026
EPS
$1.08/$0.92
Revenue
$1.3B/$1.3B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $0.90/— | — | $1.2B/— | — |
| Q4 2025 | $0.74/$0.66 | +13.0% | $1.3B/$1.2B | +6.9% |
| Q1 2026 | $0.82/$0.63 | +30.6% | $1.2B/$1.2B | +2.8% |
| Q2 2026 | $1.08/$0.92 | +17.1% | $1.3B/$1.3B | +3.5% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$5.4B
+9.1% YoY
FY2
$5.8B
+8.1% YoY
EPS Outlook
FY1
$3.63
+17.3% YoY
FY2
$4.05
+11.7% YoY
Trailing FCF (TTM)$898M
FCF Margin: 18.1%
Next Earnings
August 11, 2026
Expected EPS
$1.06
Expected Revenue
$1.4B
Q beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
Q Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $4.8B
Product Mix
Latest annual revenue by segment or product family
Semiconductor Technologies
55.6%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Asia Pacific
67.7%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Semiconductor Technologies is the largest disclosed segment at 55.6% of FY 2025 revenue, with no year-over-year comparison yet.
Asia Pacific is the largest reported region at 67.7%, with no year-over-year comparison yet.
Q Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Expensive versus peers
Fair value est. $92 — implies -45.4% from today's price.
Premium to Fair Value
45.4%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
Q
51.2x
vs
S&P 500
24.4x
+109% premium
vs Technology Trailing P/E
Q
51.2x
vs
Technology
29.0x
+77% premium
vs Q 5Y Avg P/E
Today
51.2x
vs
5Y Average
24.7x
+107% premium
Forward PE
41.3x
S&P 500
18.8x
+120%
Technology
22.3x
+86%
5Y Avg
—
—
Trailing PE
51.2x
S&P 500
24.4x
+109%
Technology
29.0x
+77%
5Y Avg
24.7x
+107%
PEG Ratio
—
S&P 500
1.66x
—
Technology
1.51x
—
5Y Avg
—
—
EV/EBITDA
28.4x
S&P 500
15.2x
+87%
Technology
16.6x
+71%
5Y Avg
15.2x
+86%
Price/FCF
35.8x
S&P 500
20.7x
+73%
Technology
19.2x
+86%
5Y Avg
17.3x
+107%
Price/Sales
7.4x
S&P 500
3.1x
+141%
Technology
2.4x
+205%
5Y Avg
3.6x
+107%
Dividend Yield
0.04%
S&P 500
1.91%
-98%
Technology
1.11%
-97%
5Y Avg
0.08%
-52%
| Metric | Q | S&P 500 | Technology | 5Y Avg Q |
|---|---|---|---|---|
| Forward PE | 41.3x | 18.8x+120% | 22.3x+86% | — |
| Trailing PE | 51.2x | 24.4x+109% | 29.0x+77% | 24.7x+107% |
| PEG Ratio | — | 1.66x | 1.51x | — |
| EV/EBITDA | 28.4x | 15.2x+87% | 16.6x+71% | 15.2x+86% |
| Price/FCF | 35.8x | 20.7x+73% | 19.2x+86% | 17.3x+107% |
| Price/Sales | 7.4x | 3.1x+141% | 2.4x+205% | 3.6x+107% |
| Dividend Yield | 0.04% | 1.91% | 1.11% | 0.08% |
Q trades above S&P 500 benchmarks on 5 of 5 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolQ Financial Health
Verdict
Strong
Q generates $898M in free cash flow at a 18.1% margin.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$5.0B
Revenue Growth
TTM vs prior year
—
Gross Margin
Gross profit as a share of revenue
42.0%
Operating Margin
Operating income divided by revenue
21.4%
Net Margin
Net income divided by revenue
13.1%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$3.09
Free Cash Flow (TTM)
Cash generation after capex
$898M
FCF Margin
FCF as share of revenue — the primary cash quality signal
18.1%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
6.8%
ROA
Return on assets, trailing twelve months
4.9%
Cash & Equivalents
Liquid assets on the balance sheet
$915M
Net Debt
Total debt minus cash
$4.1B
Debt Serviceability
Net debt as a multiple of annual free cash flow
4.5× FCF
~4.5 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
7.3%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
0.0%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
$0.06
Payout Ratio
Share of earnings distributed as dividends
1.9%
Shares Outstanding
Current diluted share count
209M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageQ Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 18, 2026
High Risk
Litigation costs
The base case includes $210 million in PFAS-related litigation costs, which could significantly impact financials.
Medium
Market share capture
Outsized market share in 3nm/2nm nodes is a bull case scenario, implying execution risk in competitive semiconductor markets.
Lower
Valuation vs peers
Valuation relative to peers is flagged as a key risk, though not quantified in the snippets.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why Q Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 18, 2026
Semiconductor market growth
Qnity stands to benefit from a bull case scenario where semiconductor volumes accelerate to 10% annual growth, particularly in advanced 3nm/2nm nodes.
Strong asset backing
With a tangible asset base of $3.85B providing 5.42x coverage of working capital and 12.05x coverage of other current liabilities, Qnity has robust operational and financial backing.
Advanced technology solutions
As a premier pure-play technology solutions provider, Qnity enables advanced computing, smart technologies, and connectivity through its Semiconductor Technologies and Interconnect Solutions segments.
Diverse industry portfolio
Qnity serves a broad range of industries with its diverse portfolio, positioning it well for growth in the semiconductor and electronics sectors.
Market share capture potential
In a bullish scenario, Qnity could capture outsized market share in cutting-edge semiconductor nodes like 3nm/2nm, driving significant valuation upside.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
Q Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$168.98
52W Range Position
97%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$70.50
+139.7% from the low
52-Week High
$171.52
-1.5% from the high
1 Month
+13.39%
3 Month
+48.29%
YTD
+98.8%
1 Year
+77.3%
3Y CAGR
+21.0%
5Y CAGR
+12.1%
10Y CAGR
+5.9%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
Q vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
41.3x
vs 17.8x median
+131% above peer median
Revenue Growth
+9.1%
vs +5.7% median
+59% above peer median
Net Margin
13.1%
vs 1.3% median
+892% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
Q Q Qnity Electronics, Inc. | $35.4B | 41.3x | +9.1% | 13.1% | Buy | +1.5% |
AVT AVT Avnet, Inc. | $7.5B | 17.8x | +1.2% | 0.9% | Hold | -13.3% |
ARW ARW Arrow Electronics, Inc. | $11.9B | 11.7x | +6.5% | 2.2% | Hold | -7.6% |
SNX SNX TD SYNNEX Corporation | $23.0B | 16.7x | +8.3% | 1.3% | Buy | -14.6% |
BHE BHE Benchmark Electronics, Inc. | $3.3B | 33.4x | +5.5% | 1.3% | Hold | -6.7% |
PLX PLXS Plexus Corp. | $8.0B | 36.6x | +5.7% | 4.4% | Buy | -11.7% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
Q Dividend and Capital Return
Q does not currently return meaningful capital to shareholders.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
0.0%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
0.04%
Payout Ratio
1.9%
How Q Splits Its Return
Div 0.04%
Dividend 0.04%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.06
Growth Streak
Consecutive years of dividend increases
1Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
Semi-Annual
3 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
209M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.16 | — | — | — |
| 2025 | $0.06 | — | 0.0% | 0.1% |
FAQ
7 questionsQ Investor Questions
Common questions answered from live analyst data and company financials.
01Is Qnity Electronics, Inc. (Q) stock a buy or sell in 2026?
Qnity Electronics, Inc. (Q) is rated Buy by Wall Street analysts as of 2026. Of 3 analysts covering the stock, 3 rate it Buy or Strong Buy, 0 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $172, implying +1.5% from the current price of $169. The bear case scenario is $115 and the bull case is $240.
02What is the Q stock price target for 2026?
The Wall Street consensus price target for Q is $172 based on 3 analyst estimates. The high-end target is $200 (+18.4% from today), and the low-end target is $134 (-20.7%). The base case model target is $182.
03Is Qnity Electronics, Inc. (Q) stock overvalued in 2026?
Q trades at 41.3x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals expensive versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Qnity Electronics, Inc. (Q) stock in 2026?
The primary risks for Q in 2026 are: (1) Litigation costs — The base case includes $210 million in PFAS-related litigation costs, which could significantly impact financials. (2) Market share capture — Outsized market share in 3nm/2nm nodes is a bull case scenario, implying execution risk in competitive semiconductor markets. (3) Valuation vs peers — Valuation relative to peers is flagged as a key risk, though not quantified in the snippets. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Qnity Electronics, Inc.'s revenue and earnings forecast?
Analyst consensus estimates Q will report consensus revenue of $5.4B (+9.1% year-over-year) and EPS of $3.63 (+17.3% year-over-year) for the upcoming fiscal year. The following year, analysts project $5.8B in revenue.
06When does Qnity Electronics, Inc. (Q) report its next earnings?
Qnity Electronics, Inc. is expected to report its next earnings on approximately 2026-08-11. Consensus expects EPS of $1.06 and revenue of $1.4B. Over recent quarters, Q has beaten EPS estimates 100% of the time.
07How much free cash flow does Qnity Electronics, Inc. generate?
Qnity Electronics, Inc. (Q) generated $898M in free cash flow over the trailing twelve months — a free cash flow margin of 18.1%. Q returns capital to shareholders through dividends (0.0% yield) and share repurchases ($0 TTM).