Tearsheet

Qnity Electronics (Q)


Market Price (12/18/2025): $76.29 | Market Cap: $16.0 Bil
Sector: Information Technology | Industry: Semiconductor Materials & Equipment

Qnity Electronics (Q)


Market Price (12/18/2025): $76.29
Market Cap: $16.0 Bil
Sector: Information Technology
Industry: Semiconductor Materials & Equipment

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%
Key risks
Q key risks include [1] intensifying competition and [2] the impact of China's de-stocking due to U.S. Show more.
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%
1 Key risks
Q key risks include [1] intensifying competition and [2] the impact of China's de-stocking due to U.S. Show more.

Valuation, Metrics & Events

Q Stock


Why The Stock Moved


Qualitative Assessment

AI Generated Analysis | Feedback

1. Spin-off and Independent Trading. Qnity Electronics completed its separation from DuPont on November 1, 2025, and subsequently began "regular way" trading on the NYSE under the symbol "Q". This event established Qnity as an independent public company, leading to significant initial stock price discovery and movement as the market reacted to the newly independent entity. 2. Third Quarter 2025 Earnings Report. On November 6, 2025, Qnity released an update on its estimated Q3 2025 results. The company reported net sales of $1.3 billion and adjusted pro forma operating EBITDA of $370 million. Despite raising its full-year 2025 net sales guidance to $4.7 billion, the stock experienced a 6.34% decline following the earnings announcement, suggesting a mixed or cautious market reaction.

Show more

Stock Movement Drivers

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
Q Return
Peers Return71%56%-39%97%59%24%536%
S&P 500 Return16%27%-19%24%23%14%108%

Monthly Win Rates [3]
Q Win Rate0% 
Peers Win Rate67%67%28%73%67%57% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
Q Max Drawdown 
Peers Max Drawdown-17%-8%-44%-3%-6%-25% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: AAPL, MSFT, GOOGL, AMZN, NVDA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/17/2025 (YTD)

How Low Can It Go

Q has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

Unique KeyEventXLKS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-34.0%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven51.6%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven278 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-31.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven46.0%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven79 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-24.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven31.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven105 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-53.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven115.3%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,183 days1,480 days

Compare to


In The Past

SPDR Select Sector Fund's stock fell -34.0% during the 2022 Inflation Shock from a high on 12/27/2021. A -34.0% loss requires a 51.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Qnity Electronics (Q)

Better Bets than Qnity Electronics (Q)

Latest Trefis Analyses

TitleTopic
0DASHBOARDS 
1Qnity Electronics Earnings Notes 
Title
0ARTICLES

Trade Ideas

Select past ideas related to Q. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE11302025ENPHEnphase EnergyDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
9.6%9.6%-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11262025PDPagerDutyDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
10.1%10.1%0.0%
CRM_11212025_Dip_Buyer_FCFYield11212025CRMSalesforceDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
13.5%13.5%-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE11212025HUBSHubSpotDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
9.1%9.1%0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11212025FIVNFive9Dip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
11.5%11.5%0.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE11302025ENPHEnphase EnergyDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
9.6%9.6%-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11262025PDPagerDutyDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
10.1%10.1%0.0%
CRM_11212025_Dip_Buyer_FCFYield11212025CRMSalesforceDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
13.5%13.5%-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE11212025HUBSHubSpotDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
9.1%9.1%0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11212025FIVNFive9Dip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
11.5%11.5%0.0%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Qnity Electronics

Peers to compare with:

Financials

QAAPLMSFTGOOGLAMZNNVDAMedian
NameQnity El.Apple MicrosoftAlphabet Amazon.c.NVIDIA  
Mkt Price76.26271.84476.12296.72221.27170.94246.56
Mkt Cap-4,051.23,539.03,586.22,353.64,538.93,586.2
Rev LTM4,665408,625293,812385,477670,038187,142339,644
Op Inc LTM994130,214135,937124,07776,190110,122117,100
FCF LTM78896,18478,01773,55213,48177,32475,438
FCF 3Y Avg-100,50371,30268,99821,67750,46268,998
CFO LTM1,068108,565147,039151,424121,13783,159114,851
CFO 3Y Avg-111,559121,384120,99096,97753,652111,559

Growth & Margins

QAAPLMSFTGOOGLAMZNNVDAMedian
NameQnity El.Apple MicrosoftAlphabet Amazon.c.NVIDIA  
Rev Chg LTM-6.0%15.6%13.4%10.9%65.2%13.4%
Rev Chg 3Y Avg-1.8%13.2%11.0%11.3%91.6%11.3%
Rev Chg Q11.1%9.6%18.4%15.9%13.3%62.5%14.6%
QoQ Delta Rev Chg LTM2.8%2.1%4.3%3.8%3.0%13.3%3.4%
Op Mgn LTM21.3%31.9%46.3%32.2%11.4%58.8%32.0%
Op Mgn 3Y Avg-30.8%44.6%29.9%7.9%55.8%30.8%
QoQ Delta Op Mgn LTM0.0%0.1%0.6%-0.5%0.3%0.8%0.2%
CFO/Rev LTM22.9%26.6%50.0%39.3%18.1%44.4%32.9%
CFO/Rev 3Y Avg-28.4%47.2%35.3%15.8%46.2%35.3%
FCF/Rev LTM16.9%23.5%26.6%19.1%2.0%41.3%21.3%
FCF/Rev 3Y Avg-25.6%28.0%20.5%3.5%43.4%25.6%

Valuation

QAAPLMSFTGOOGLAMZNNVDAMedian
NameQnity El.Apple MicrosoftAlphabet Amazon.c.NVIDIA  
Mkt Cap-4,051.23,539.03,586.22,353.64,538.93,586.2
P/S-9.313.17.63.524.39.3
P/EBIT-29.129.619.327.4-28.3
P/E-38.236.723.633.145.836.7
P/CFO-35.026.219.419.354.626.2
Total Yield-3.0%3.4%4.6%3.0%2.2%3.0%
Dividend Yield-0.4%0.6%0.3%0.0%0.0%0.3%
FCF Yield 3Y Avg-3.1%2.3%3.3%1.1%-2.7%
D/E-0.00.00.00.1-0.0
Net D/E-0.0-0.0-0.00.0-0.0

Returns

QAAPLMSFTGOOGLAMZNNVDAMedian
NameQnity El.Apple MicrosoftAlphabet Amazon.c.NVIDIA  
1M Rtn-6.3%1.6%-6.2%4.2%-5.0%-8.4%-5.6%
3M Rtn-13.9%-6.5%19.0%-4.5%0.4%0.4%
6M Rtn-38.6%-0.5%71.5%4.1%17.5%17.5%
12M Rtn-7.7%5.5%52.4%-4.3%31.1%7.7%
3Y Rtn-105.1%99.2%231.2%151.8%932.6%151.8%
1M Excs Rtn-7.0%0.9%-6.9%3.4%-5.7%-9.1%-6.3%
3M Excs Rtn-13.0%-7.5%16.5%-5.7%-4.4%-4.4%
6M Excs Rtn-26.2%-12.9%59.1%-8.3%5.1%5.1%
12M Excs Rtn--1.0%-3.8%45.9%-13.8%16.3%-1.0%
3Y Excs Rtn-22.5%24.6%152.0%75.9%807.4%75.9%

Financials

Short Interest

Short Interest: As Of Date11282025
Short Interest: Shares Quantity3,138,060
Short Interest: % Change Since 1115202528.1%
Average Daily Volume2,885,976
Days-to-Cover Short Interest1.09
Basic Shares Quantity209,433,618
Short % of Basic Shares1.5%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/6/2025-1.1%-8.0%-8.8%
SUMMARY STATS   
# Positive000
# Negative111
Median Positive   
Median Negative-1.1%-8.0%-8.8%
Max Positive   
Max Negative-1.1%-8.0%-8.8%

SEC Filings

Expand for More

Report DateFiling DateFiling
93020251118202510-Q 9/30/2025
6302025924202510-12B/A 6/30/2025
12312024618202510-12B/A 12/31/2024