Last 47 quarters of trend data · Technology · Software - Application
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Q2 Holdings, Inc.'s quarterly P/E stands at 78.7x. EV/EBITDA has compressed 74.2% YoY to 67.0x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 60.15 | 78.68 | 129.99 | 285.75 | 410.48 | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 3.78 | 6.27 | 8.35 | 6.83 | 8.89 | 6.87 | 5.25 | 4.72 | 3.93 | 3.05 | 2.91 | 2.33 | 2.64 |
| — | -8.8% | +59.1% | +44.8% | +126.0% | +125.7% | +80.1% | +102.7% | +49.0% | -4.5% | -25.9% | -64.5% | -69.2% | |
| P/B Ratio | 4.73 | 8.12 | 11.15 | 9.51 | 12.57 | 9.72 | 7.55 | 6.72 | 5.69 | 4.28 | 4.08 | 3.25 | 3.69 |
| — | -16.4% | +47.7% | +41.5% | +121.0% | +127.0% | +85.1% | +107.0% | +54.0% | -0.3% | -18.5% | -58.8% | -53.4% | |
| P/FCF | 15.45 | 33.94 | 31.19 | 34.27 | 44.15 | 34.27 | 31.56 | 129.73 | 21.38 | 50.83 | 120.78 | — | 9.08 |
| — | -1.0% | -1.2% | -73.6% | +106.6% | -32.6% | -73.9% | — | +135.4% | — | — | — | -71.4% | |
| EV / EBITDA | 74.85 | 67.02 | 70.99 | 83.94 | 116.06 | 259.37 | 245.43 | 254.34 | — | — | — | — | — |
| — | -74.2% | -71.1% | -67.0% | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | 74.85 | 77.67 | 111.89 | 197.10 | 538.10 | — | — | — | — | — | — | 489.70 | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Q2 Holdings, Inc.'s operating margin was 5.5% in Q3 2025, up 0.4 pp QoQ and up 12.8 pp YoY. This marks the 10th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 2.7% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 6.0% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.1% | 54.0% | 53.6% | 53.2% | 52.6% | 50.9% | 50.2% | 49.7% | 50.2% | 47.8% | 47.8% | 47.9% | 45.2% |
| — | +6.0% | +6.7% | +7.1% | +4.8% | +6.4% | +5.1% | +3.7% | +11.1% | +3.6% | +6.6% | +6.3% | +0.2% | |
| Operating Margin | 5.0% | 5.5% | 5.0% | 1.2% | -0.9% | -7.3% | -7.9% | -8.6% | -11.1% | -15.0% | -15.3% | -13.9% | -22.2% |
| — | +174.6% | +163.6% | +113.5% | +92.3% | +51.1% | +48.3% | +38.1% | +49.9% | +20.1% | +9.6% | +13.2% | -66.4% | |
| Net Margin | 6.5% | 7.5% | 6.0% | 2.5% | 0.1% | -6.7% | -7.6% | -8.4% | -11.2% | -14.9% | -15.3% | -0.3% | -22.1% |
| — | +210.7% | +179.8% | +130.0% | +100.8% | +54.9% | +50.6% | -2380.4% | +49.6% | +22.1% | +15.0% | +98.1% | -14.9% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.8% | 2.5% | 2.1% | 0.9% | 0.0% | -2.4% | -2.8% | -3.0% | -4.1% | -5.3% | -5.4% | -0.1% | -7.6% |
| — | +203.1% | +175.4% | +129.5% | +100.8% | +53.9% | +48.5% | -2419.5% | +46.7% | +17.7% | +5.6% | +97.4% | -73.2% | |
| ROA | 4.0% | 1.1% | 0.9% | 0.4% | 0.0% | -0.9% | -1.1% | -1.1% | -1.5% | -2.0% | -2.0% | -0.0% | -2.4% |
| — | +214.4% | +181.6% | +131.5% | +100.8% | +52.5% | +47.4% | -2699.5% | +37.1% | +5.1% | -7.6% | +97.6% | -31.6% | |
| ROIC | 4.5% | 1.2% | 1.0% | 0.2% | -0.2% | -1.3% | -1.4% | -1.4% | -1.7% | -2.0% | -2.0% | -1.7% | -2.5% |
| — | +188.4% | +174.2% | +116.6% | +90.2% | +34.6% | +31.0% | +19.1% | +33.3% | +2.8% | -9.9% | +0.7% | -70.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Q2 Holdings, Inc.'s Debt/EBITDA ratio is 28.2x, up from 23.1x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 61.3% YoY to 0.97x, tightening the short-term liquidity position. Debt/Equity has declined for 12 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.52 | 0.87 | 0.92 | 0.99 | 1.05 | 1.09 | 1.13 | 1.17 | 1.22 | 1.24 | 1.24 | 1.25 | 1.75 |
| — | -21.0% | -18.5% | -15.8% | -14.3% | -11.6% | -8.7% | -6.1% | -30.1% | -27.3% | -25.4% | -24.1% | +60.5% | |
| Debt / EBITDA | 8.68 | 28.20 | 23.05 | 33.88 | 37.67 | 111.75 | 138.03 | 163.58 | — | — | — | — | — |
| — | -74.8% | -83.3% | -79.3% | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 1.02 | 0.97 | 0.90 | 1.43 | 1.40 | 2.50 | 2.44 | 2.38 | 2.23 | 2.25 | 2.25 | 2.12 | 2.77 |
| — | -61.3% | -63.1% | -39.8% | -37.3% | +10.8% | +8.8% | +12.2% | -19.2% | -25.0% | -27.5% | -28.8% | -10.9% | |
| Quick Ratio | 1.02 | 0.97 | 0.90 | 1.43 | 1.40 | 2.50 | 2.44 | 2.38 | 2.23 | 2.25 | 2.02 | 2.12 | 2.77 |
| — | -61.3% | -63.1% | -39.8% | -37.3% | +10.8% | +20.6% | +12.2% | -19.2% | -25.0% | -34.6% | -28.8% | -10.9% | |
| Interest Coverage | — | 8.58 | 7.31 | 1.43 | -1.34 | -9.45 | -12.23 | -10.98 | -12.96 | -17.59 | -14.97 | -14.68 | -19.67 |
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Includes 30+ ratios · 47 years · Updated daily
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Start ComparisonQ2 Holdings, Inc.'s current P/E is 60.1x. The average P/E over the last 4 quarters is 226.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Q2 Holdings, Inc.'s current operating margin is 5.0%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Q2 Holdings, Inc.'s business trajectory between earnings reports.