Qnity Electronics, Inc. Q SPX
Qnity Electronics, Inc. provides materials and solutions to the semiconductor and electronics industries in the United States, rest of Americas, Europe, the Middle East, Africa, Asia Pacific, China, South Korea, Taiwan, and internationally. The company operates in two segments, Semiconductor Technologies and Interconnect Solutions. Its Semiconductor Technologies segment offers chemical mechanical planarization (CMP) pads and slurries, photoresists, functional sub-layers, advanced overcoats, post-CMP cleaners, post-etch residue removers, and emerging cleans. The Interconnect Solutions segment provides copper pillar plating, copper redistribution layer, solder bump plating, under bump metallization, photoresists, packaging dielectrics, gap fillers, phase change, specialty thermal interface materials, thermally conductive insulators, copper playing solutions, dry film photoresists, and laminates and polyimide films. The company was formerly known as Novus SpinCo 1, Inc. and changed its name to Qnity Electronics, Inc. in April 2025. The company was incorporated in 2024 and is headquartered in Wilmington, Delaware.
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Valuation
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Growth (CAGR)
PROS
- Generates positive free cash flow.
CONS
- Trading at a high P/E of 50.3.
- Revenue declined at -0.0% CAGR over 5 years.
- Earnings shrank at -3.7% CAGR over 5 years.
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Technology).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Q Qnity Electronics, Inc. SPX | 156.00 | 50.32 | $32.66B | 0.21% | 8.08% | 7.48% | -0.01% | -3.66% |
| 2 | NVDA NVIDIA Corporation NDXSPXAI | 211.14 | 32.38 | $5.11T | 0.47% | 81.14% | 114.29% | 100.05% | 201.80% |
| 3 | AAPL Apple Inc. NDXSPX | 312.06 | 37.73 | $4.58T | 0.35% | 68.72% | 141.47% | 1.81% | 3.92% |
| 4 | MSFT Microsoft Corporation NDXSPXAI | 450.24 | 26.82 | $3.34T | 0.81% | 26.37% | 34.01% | 12.42% | 11.87% |
| 5 | TSM Taiwan Semiconductor Manufacturing Company Limited AI | 418.45 | 35.86 | $2.17T | 0.91% | 32.04% | 36.21% | 18.94% | 19.57% |
| 6 | MU Micron Technology, Inc. NDXSPXAI | 971.00 | 45.87 | $1.10T | 0.06% | 14.20% | 39.82% | 6.71% | -0.57% |
| 7 | AMD Advanced Micro Devices, Inc. NDXSPXAI | 516.10 | 172.61 | $841.55B | - | 6.33% | 8.06% | 13.64% | 48.64% |
| 8 | ORCL Oracle Corporation SPXAI | 225.78 | 40.46 | $649.35B | 0.89% | 13.07% | 57.57% | 10.59% | 22.81% |
| 9 | ASML ASML Holding N.V. NDXAI | 1,612.76 | 53.76 | $621.59B | 0.54% | 43.81% | 52.24% | 15.55% | 19.55% |
Quarterly Results
Figures in USD.
| Metric | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Revenue | - | 1.12B | 1.17B | 1.28B | 1.19B | 1.31B |
| Cost of Revenue | - | 587.00M | 628.00M | 701.00M | 641.00M | 697.00M |
| Gross Profit | - | 531.00M | 542.00M | 575.00M | 549.00M | 618.00M |
| Operating Expenses | - | 279.00M | 295.00M | 302.00M | 308.00M | 319.00M |
| Operating Income | - | 252.00M | 247.00M | 273.00M | 241.00M | 299.00M |
| EBITDA | - | 340.00M | 346.00M | 380.00M | 336.00M | 377.00M |
| Interest Expense | - | 0 | 55.00M | 14.00M | 51.00M | 61.00M |
| Pretax Income | - | 246.00M | 199.00M | 272.00M | 189.00M | 218.00M |
| Tax Provision | - | 47.00M | 50.00M | 49.00M | 80.00M | 56.00M |
| Net Income | - | 193.00M | 139.00M | 211.00M | 100.00M | 151.00M |
| Diluted EPS | 0.95 | 0.92 | - | 1.01 | 0.48 | 0.72 |
| R&D Expense | 81.00M | 84.00M | - | 92.00M | - | 94.00M |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 4.75B | 4.04B | 4.33B | 4.75B |
| Cost of Revenue | 2.60B | 2.28B | 2.34B | 2.56B |
| Gross Profit | 2.16B | 1.75B | 2.00B | 2.19B |
| Operating Expenses | 1.12B | 1.10B | 1.15B | 1.18B |
| Operating Income | 1.03B | 657.00M | 847.00M | 1.01B |
| EBITDA | 1.45B | 1.03B | 1.29B | 1.40B |
| Interest Expense | - | 0 | 0 | 65.00M |
| Pretax Income | 952.00M | 632.00M | 901.00M | 962.00M |
| Tax Provision | 151.00M | 99.00M | 177.00M | 233.00M |
| Net Income | 774.00M | 507.00M | 693.00M | 692.00M |
| Diluted EPS | - | - | 3.31 | 3.30 |
| R&D Expense | - | 303.00M | 314.00M | 354.00M |
Compounded Sales Growth
| 5 Years: | -0.01% |
| 1 Year: | 17.60% |
Compounded Profit Growth
| 5 Years: | -3.66% |
| 1 Year: | -21.70% |
Stock Price Performance
| 1 Year: | +64.01% |
| 6 Months: | +100.35% |
| 3 Months: | +23.13% |
| 1 Month: | +10.46% |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Total Assets | - | 12.52B | 12.27B | 14.07B |
| Current Assets | - | 1.36B | 1.48B | 2.64B |
| Cash & Equivalents | - | 139.00M | 166.00M | 915.00M |
| Inventory | - | 534.00M | 597.00M | 661.00M |
| Receivables | - | 561.00M | 580.00M | 656.00M |
| Total Liabilities | - | 1.33B | 1.38B | 6.70B |
| Current Liabilities | - | 677.00M | 839.00M | 1.36B |
| Long Term Debt | - | - | - | 4.00B |
| Total Debt | - | - | - | 4.03B |
| Total Equity | 11.31B | 10.94B | 10.64B | 7.09B |
| Shares Outstanding | - | - | - | 209.48M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Operating Cash Flow | 1.15B | 882.00M | 1.06B | 1.27B |
| Investing Cash Flow | -202.00M | -226.00M | -172.00M | -285.00M |
| Financing Cash Flow | -932.00M | -628.00M | -848.00M | -248.00M |
| Capital Expenditure | -202.00M | -231.00M | -200.00M | -285.00M |
| Free Cash Flow | 951.00M | 651.00M | 861.00M | 988.00M |
| Net Change in Cash | 19.00M | 28.00M | 41.00M | 740.00M |
| Dividends Paid | - | - | - | 13.00M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Gross Margin % | 45.4% | 43.5% | 46.0% | 46.2% |
| Operating Margin % | 21.7% | 16.3% | 19.5% | 21.3% |
| Net Margin % | 16.3% | 12.6% | 16.0% | 14.6% |
| ROE % | 6.8% | 4.6% | 6.5% | 9.8% |
| ROCE % | - | 5.5% | 7.4% | 8.0% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Blackrock Inc. | 7.59% | 15.90M | $2.48B |
| 2 | Vanguard Capital Management LLC | 6.51% | 13.63M | $2.13B |
| 3 | Vanguard Portfolio Management LLC | 5.09% | 10.65M | $1.66B |
| 4 | State Street Corporation | 4.33% | 9.06M | $1.41B |
| 5 | Geode Capital Management, LLC | 2.62% | 5.48M | $855.62M |
| 6 | Durable Capital Partners Lp | 2.43% | 5.09M | $793.74M |
| 7 | Allspring Global Investments Holdings, LLC | 2.09% | 4.38M | $682.61M |
| 8 | Invesco Ltd. | 1.68% | 3.52M | $549.28M |
| 9 | Morgan Stanley | 1.51% | 3.17M | $494.31M |
| 10 | Slate Path Capital, LP | 1.19% | 2.49M | $388.39M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
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