Last 48 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 29.6x, down 89.7% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 80.0% YoY to 16.8x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 53.56 | 29.56 | 58.19 | 78.68 | 129.99 | 285.75 | 10065.00 | — | — | — | — | — | — |
| — | -89.7% | -99.4% | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 3.37 | 3.69 | 5.93 | 6.27 | 8.35 | 6.83 | 8.89 | 6.87 | 5.25 | 4.72 | 3.93 | 3.05 | 2.91 |
| — | -45.9% | -33.3% | -8.8% | +59.1% | +44.8% | +126.0% | +125.7% | +80.1% | +102.7% | +49.0% | -4.5% | -25.9% | |
| P/B Ratio | 4.22 | 5.23 | 7.46 | 8.12 | 11.15 | 9.51 | 12.57 | 9.72 | 7.55 | 6.72 | 5.69 | 4.28 | 4.08 |
| — | -45.0% | -40.7% | -16.4% | +47.7% | +41.5% | +121.0% | +127.0% | +85.1% | +107.0% | +54.0% | -0.3% | -18.5% | |
| P/FCF | 13.78 | 16.08 | 21.80 | 33.94 | 31.19 | 34.27 | 44.15 | 34.27 | 31.56 | 129.73 | 21.38 | 50.83 | 120.78 |
| — | -53.1% | -50.6% | -1.0% | -1.2% | -73.6% | +106.6% | -32.6% | -73.9% | — | +135.4% | — | — | |
| EV / EBITDA | 23.13 | 16.80 | 49.41 | 67.02 | 70.99 | 83.94 | 99.46 | 259.37 | 245.43 | 254.34 | — | — | — |
| — | -80.0% | -50.3% | -74.2% | -71.1% | -67.0% | — | — | — | — | — | — | — | |
| EV / EBIT | 58.30 | 28.45 | 67.10 | 77.67 | 111.89 | 197.10 | 538.10 | — | — | — | — | — | — |
| — | -85.6% | -87.5% | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Q2 Holdings, Inc.'s operating margin was 13.0% in Q1 2026, up 4.2 pp QoQ and up 11.8 pp YoY. This marks the 12th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 8.1% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 11.0% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.0% | 59.1% | 55.4% | 54.0% | 53.6% | 53.2% | 52.6% | 50.9% | 50.2% | 49.7% | 50.2% | 47.8% | 47.8% |
| — | +11.0% | +5.2% | +6.0% | +6.7% | +7.1% | +4.8% | +6.4% | +5.1% | +3.7% | +11.1% | +3.6% | +6.6% | |
| Operating Margin | 5.7% | 13.0% | 8.8% | 5.5% | 5.0% | 1.2% | 0.5% | -7.3% | -7.9% | -8.6% | -11.1% | -15.0% | -15.3% |
| — | +1026.1% | +1836.7% | +174.6% | +163.6% | +113.5% | +104.1% | +51.1% | +48.3% | +38.1% | +49.9% | +20.1% | +9.6% | |
| Net Margin | 6.5% | 12.3% | 9.8% | 7.5% | 6.0% | 2.5% | 0.1% | -6.7% | -7.6% | -8.4% | -11.2% | -14.9% | -15.3% |
| — | +391.2% | +10857.5% | +210.7% | +179.8% | +130.0% | +100.8% | +54.9% | +50.6% | -2380.4% | +49.6% | +22.1% | +15.0% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.8% | 4.2% | 3.2% | 2.5% | 2.1% | 0.9% | 0.0% | -2.4% | -2.8% | -3.0% | -4.1% | -5.3% | -5.4% |
| — | +368.0% | +9722.5% | +203.1% | +175.4% | +129.5% | +100.8% | +53.9% | +48.5% | -2419.5% | +46.7% | +17.7% | +5.6% | |
| ROA | 4.0% | 2.1% | 1.5% | 1.1% | 0.9% | 0.4% | 0.0% | -0.9% | -1.1% | -1.1% | -1.5% | -2.0% | -2.0% |
| — | +487.6% | +11717.2% | +214.4% | +181.6% | +131.5% | +100.8% | +52.5% | +47.4% | -2699.5% | +37.1% | +5.1% | -7.6% | |
| ROIC | 5.1% | 3.4% | 2.1% | 1.2% | 1.0% | 0.2% | 0.1% | -1.3% | -1.4% | -1.4% | -1.7% | -2.0% | -2.0% |
| — | +1337.7% | +2251.9% | +188.4% | +174.2% | +116.6% | +105.2% | +34.6% | +31.0% | +19.1% | +33.3% | +2.8% | -9.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Q2 Holdings, Inc.'s Debt/EBITDA ratio is 7.2x, down from 13.9x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 34.9% YoY to 0.93x, tightening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.52 | 0.56 | 0.52 | 0.87 | 0.92 | 0.99 | 1.05 | 1.09 | 1.13 | 1.17 | 1.22 | 1.24 | 1.24 |
| — | -43.1% | -50.1% | -21.0% | -18.5% | -15.8% | -14.3% | -11.6% | -8.7% | -6.1% | -30.1% | -27.3% | -25.4% | |
| Debt / EBITDA | 3.01 | 7.22 | 13.92 | 28.20 | 23.05 | 33.88 | 32.28 | 111.75 | 138.03 | 163.58 | — | — | — |
| — | -78.7% | -56.9% | -74.8% | -83.3% | -79.3% | — | — | — | — | — | — | — | |
| Current Ratio | 1.02 | 0.93 | 1.02 | 0.97 | 0.90 | 1.43 | 1.40 | 2.50 | 2.44 | 2.38 | 2.23 | 2.25 | 2.25 |
| — | -34.9% | -27.0% | -61.3% | -63.1% | -39.8% | -37.3% | +10.8% | +8.8% | +12.2% | -19.2% | -25.0% | -27.5% | |
| Quick Ratio | 1.02 | 0.93 | 1.02 | 0.97 | 0.90 | 1.43 | 1.40 | 2.50 | 2.44 | 2.38 | 2.23 | 2.25 | 2.02 |
| — | -34.9% | -27.0% | -61.3% | -63.1% | -39.8% | -37.3% | +10.8% | +20.6% | +12.2% | -19.2% | -25.0% | -34.6% | |
| Interest Coverage | 8.44 | 23.34 | 14.71 | 12.85 | 11.03 | 4.41 | 2.65 | -6.04 | -8.80 | -8.51 | -10.53 | -15.83 | -13.64 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying QTWO stock.
Q2 Holdings, Inc.'s current P/E is 53.6x. The average P/E over the last 4 quarters is 74.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Q2 Holdings, Inc.'s current operating margin is 5.7%. 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.