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Investment Highlights Market Valuation Price Chart Return vs. Risk About QLYS Interactive Breakdown Better Bets vs. QLYS Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Qualys (QLYS)

Market Price (10/23/2025): $128.78 | Market Cap: $4.7 Bil
Sector: Information Technology | Industry: Systems Software

Qualys (QLYS)

Market Price (10/23/2025): $128.78
Market Cap: $4.7 Bil
Sector: Information Technology
Industry: Systems Software

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 operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31%		 Weak multi-year price returns
2Y Excs Rtn is -77%, 3Y Excs Rtn is -85%		 
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 38%		  
2 Attractive yield
FCF Yield is 5.2%		  
3 Low stock price volatility
Vol 12M is 37%		  
0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 40%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 38%
2 Attractive yield
FCF Yield is 5.2%
3 Low stock price volatility
Vol 12M is 37%
4 Weak multi-year price returns
2Y Excs Rtn is -77%, 3Y Excs Rtn is -85%

Market Valuation & Key Metrics

QLYSS&P 500
REVENUE GROWTHGOOD
Rev LTM ($ Bil)0.6
Rev Chg Q10.3%6.1%
Rev Chg LTM9.6%5.2%
Rev Chg 3Y Avg12.5%5.4%
PROFITABILITYVERY GOOD
Op Inc LTM ($ Bil)0.2
CFO LTM ($ Bil)0.3
Net Inc LTM ($ Bil)0.2
Op Mgn LTM31.0%18.6%
CFO/Rev LTM39.6%20.4%
Net Inc Mgn29.0%12.7%
VALUATIONHIGH
P/S7.33.3
P/CFO18.516.1
P/FCF19.521.2
P/E25.224.5
STABILITYVERY GOOD
Debt/Equity0.010.21
Cash/Assets0.370.07

QLYS Stock

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
QLYS Return46%13%-18%75%-29%-9%52%
Peers Return27%-1%-43%16%54%12%42%
S&P 500 Return16%27%-19%24%23%14%106%

Monthly Win Rates [3]
QLYS Win Rate58%67%25%83%33%33% 
Peers Win Rate25%57%22%55%53%51% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
QLYS Max Drawdown-18%-25%-20%-9%-39%-18% 
Peers Max Drawdown-13%-12%-49%-23%-39%-28% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: GWRE, INFA, TENB, ARQQ, ATGL. See QLYS Returns vs. Peers.
[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 10/22/2025 (YTD)

How Low Can It Go

Unique KeyEventQLYSS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-36.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven58.4%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven406 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-29.2%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven41.3%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven49 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-30.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven43.0%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven475 days120 days

Compare to GWRE, INFA, TENB, ARQQ, ATGL


In The Past

Qualys's stock fell -36.9% during the 2022 Inflation Shock from a high on 1/27/2021. A -36.9% loss requires a 58.4% 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 Qualys (QLYS)

Better Bets than Qualys (QLYS)

 QLYSBetter Performance than QLYS
MetricValueIndustry (Systems Software)
Rev Chg LTM9.6%MSFT (14.9%), NOW (21.1%), PANW (14.9%), CRWD (23.5%), NET (27.8%)
Rev Chg 3Y Avg12.5%MSFT (12.5%), NOW (22.3%), PANW (18.9%), CRWD (33.5%), NET (34.5%)
Op Mgn LTM31.0%MSFT (45.6%), CHKP (33.0%), GEN (39.3%), STNE (49.4%), PAGS (34.6%)
CFO/Rev LTM39.6%MSFT (48.3%), PANW (40.3%), CHKP (44.5%), RPAY (41.8%), KLAR (87.1%)
FCF/Rev LTM37.6%PANW (37.6%), CHKP (43.5%), KLAR (85.7%)
Total Yield4.0%CHKP (4.1%), GEN (5.4%), DOX (8.4%), DLO (6.9%), PAGS (81.0%)
 QLYSBetter Performance than QLYS
MetricValueAll Other Sectors
Rev Chg LTM9.6%GOOGL (13.1%), AMZN (10.9%), META (19.4%), LLY (36.8%), V (11.4%)
Rev Chg 3Y Avg12.5%META (13.0%), TSLA (12.9%), JPM (13.5%), LLY (23.4%), MA (13.5%)
Op Mgn LTM31.0%GOOGL (32.7%), META (42.9%), LLY (43.0%), V (66.5%), MA (58.0%)
CFO/Rev LTM39.6%META (56.4%), V (60.4%), MA (53.3%), RY (135.4%), APP (53.7%)
FCF/Rev LTM37.6%V (56.8%), MA (49.2%), RY (131.7%), APP (53.7%), SCHW (79.4%)
Total Yield4.0%GOOGL (4.1%), JPM (6.9%), XOM (9.7%), JNJ (8.0%), BAC (7.1%)
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Latest Trefis Analyses

Trade Ideas

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

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		1.4%1.4%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		11.1%11.1%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		11.7%11.7%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip 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		11.7%11.7%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		3.2%3.2%-0.3%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		1.4%1.4%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		11.1%11.1%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		11.7%11.7%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip 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		11.7%11.7%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		3.2%3.2%-0.3%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1PRAXPraxis Precision Medicines221.6%139.6%
2VICRVicor49.6%77.5%
3CCOClear Channel Outdoor41.2%40.1%
4CELCCelcuity40.0%435.1%
5WGOWinnebago Industries34.9%-11.6%
6BALYBallys27.4%-2.4%
7TFINTriumph Financial27.3%-32.9%
8SIONSionna Therapeutics25.8% 
9LVWRLiveWire24.4%29.1%
10PMIPicard Medical24.4%20804.8%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1BITFBitfarms-39.1%164.4%
2QBTSD-Wave Quantum-39.1%224.9%
3RGTIRigetti Computing-36.0%136.3%
4SMRNuScale Power-35.0%93.6%
5RCATRed Cat-31.9%-22.3%
6BKSYBlackSky Technology-31.3%101.3%
7OKLOOklo-30.0%465.8%
8QUBTQuantum Computing-30.0%-10.2%
9SESSES AI-29.9%13.2%
10ASPIASP Isotopes-29.4%96.7%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed1366.7%342.6%
2QUREuniQure338.6%239.2%
3PRAXPraxis Precision Medicines279.5%139.6%
4LACLithium Americas117.9%125.3%
5CLPTClearPoint Neuro99.8%57.9%
6NVTSNavitas Semiconductor97.7%281.1%
7UAMYUnited States Antimony79.6%640.7%
8ORKAOruka Therapeutics71.3%37.4%
9GRALGRAIL69.8%346.8%
10TSHATaysha Gene Therapies69.2%185.5%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1SOCSable Offshore-51.7%-48.4%
2FLYFirefly Aerospace-37.4% 
3UPWheels Up Experience-37.0%-12.1%
4VGVenture Global-34.5% 
5PSIXPower Solutions International-33.0%160.7%
6ALABAstera Labs-32.7%16.9%
7FWRDForward Air-30.6%-41.0%
8QUBTQuantum Computing-30.5%-10.2%
9AEHRAehr Test Systems-29.6%42.4%
10TIPTTiptree-29.0%-15.1%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1PRAXPraxis Precision Medicines221.6%139.6%
2VICRVicor49.6%77.5%
3CCOClear Channel Outdoor41.2%40.1%
4CELCCelcuity40.0%435.1%
5WGOWinnebago Industries34.9%-11.6%
6BALYBallys27.4%-2.4%
7TFINTriumph Financial27.3%-32.9%
8SIONSionna Therapeutics25.8% 
9LVWRLiveWire24.4%29.1%
10PMIPicard Medical24.4%20804.8%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1BITFBitfarms-39.1%164.4%
2QBTSD-Wave Quantum-39.1%224.9%
3RGTIRigetti Computing-36.0%136.3%
4SMRNuScale Power-35.0%93.6%
5RCATRed Cat-31.9%-22.3%
6BKSYBlackSky Technology-31.3%101.3%
7OKLOOklo-30.0%465.8%
8QUBTQuantum Computing-30.0%-10.2%
9SESSES AI-29.9%13.2%
10ASPIASP Isotopes-29.4%96.7%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Qualys

Financials

QLYSGWREINFATENBARQQATGLMedian
NameQualys Guidewir.Informat.Tenable Arqit Qu.Alpha Te. 
Mkt Price128.22250.2524.8430.1135.0820.7732.59
Mkt Cap4.621.17.53.6--6.1
Rev LTM6371,2021,662949--1,076
Op Inc LTM19841155-14--98
FCF LTM240280425249--265
FCF 3Y Avg227160316175--201
CFO LTM252301432266--283
CFO 3Y Avg239178323188--214

Growth & Margins

QLYSGWREINFATENBARQQATGLMedian
NameQualys Guidewir.Informat.Tenable Arqit Qu.Alpha Te. 
Rev Chg LTM9.6%22.6%1.2%11.4%--10.5%
Rev Chg 3Y Avg12.5%14.1%3.5%15.9%--13.3%
Rev Chg Q10.3%22.3%1.7%11.8%--11.1%
QoQ Delta Rev Chg LTM2.5%5.7%0.4%2.8%--2.6%
Op Mgn LTM31.0%3.4%9.3%-1.5%--6.4%
Op Mgn 3Y Avg29.6%-6.2%6.1%-4.2%--0.9%
QoQ Delta Op Mgn LTM-0.2%1.5%-0.7%-0.3%---0.3%
CFO/Rev LTM39.6%25.0%26.0%28.0%--27.0%
CFO/Rev 3Y Avg41.2%16.4%19.9%21.8%--20.9%
FCF/Rev LTM37.6%23.3%25.6%26.2%--25.9%
FCF/Rev 3Y Avg39.0%14.6%19.5%20.2%--19.9%

Valuation

QLYSGWREINFATENBARQQATGLMedian
NameQualys Guidewir.Informat.Tenable Arqit Qu.Alpha Te. 
Mkt Cap4.621.17.53.6--6.1
P/S7.317.64.53.8--5.9
P/EBIT23.5337.342.3767.2--189.8
P/E25.1302.5-998.0-81.0---27.9
P/CFO18.470.217.413.7--17.9
Total Yield4.0%0.3%-0.1%-1.2%--0.1%
Dividend Yield0.0%0.0%0.0%0.0%--0.0%
FCF Yield 3Y Avg4.5%1.1%4.4%3.8%--4.1%
D/E0.00.00.20.1--0.1
Net D/E-0.1-0.00.10.0---0.0

Returns

QLYSGWREINFATENBARQQATGLMedian
NameQualys Guidewir.Informat.Tenable Arqit Qu.Alpha Te. 
1M Rtn-6.0%2.3%0.0%-1.2%-15.0%-25.2%-3.6%
3M Rtn-8.6%11.9%1.2%-10.0%-13.4%-4.3%-6.5%
6M Rtn5.3%29.1%40.7%-5.3%141.1%-24.6%17.2%
12M Rtn3.9%33.7%-7.5%-27.6%377.9%230.7%18.8%
3Y Rtn-3.8%340.3%29.2%-8.4%-64.9%--3.8%
1M Excs Rtn-5.6%2.8%-0.5%-0.7%-14.2%-28.5%-3.1%
3M Excs Rtn-13.1%6.6%-4.3%-14.2%-16.0%-9.6%-11.4%
6M Excs Rtn-19.3%4.4%16.1%-29.9%116.5%-49.2%-7.4%
12M Excs Rtn-10.2%18.1%-21.7%-43.6%476.3%195.8%4.0%
3Y Excs Rtn-84.8%261.2%-54.4%-88.2%-151.0%--84.8%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/5/20255/6/20252/21/202511/5/20248/6/20245/7/20242/22/202411/2/20238/3/20235/4/20232/23/202311/2/2022
Key Financials Quarterly            
Total Revenue164160159154149146145142137131131126
Ebitda555654495350475050434042
Operating Income515249454845414443353133
Net Income474844464440414735292828
EPS1.301.301.201.261.191.081.101.270.960.790.750.72
Key Financials TTM            
Total Revenue TTM637622608593581570554541524507490469
Ebitda TTM214212206200200197190182174165165163
Operating Income TTM198194187179178173163152142132131129
Net Income TTM185181174170171162152139120112108101
Growth Rates Quarterly            
Total Revenue Growth10.3%9.7%10.1%8.4%8.4%11.6%10.5%13.1%14.4%15.2%19.2%19.7%
EBITDA Growth4.8%11.9%13.1%-1.9%6.1%17.3%19.7%21.0%19.9%0.2%6.4%1.5%
Operating Income Growth6.9%15.6%19.2%3.1%12.2%27.2%35.2%30.7%29.8%4.9%5.6%4.3%
Net Income Growth8.0%19.6%8.3%-0.7%23.7%36.5%43.3%68.2%33.0%14.5%29.8%-0.4%
Margins Quarterly            
EBITDA Margin33.8%35.0%33.6%32.1%35.5%34.3%32.7%35.4%36.3%32.6%30.2%33.1%
Operating Income Margin31.3%32.4%31.0%29.2%32.3%30.7%28.7%30.7%31.2%26.9%23.4%26.6%
Net Income Margin28.8%29.7%27.6%30.0%29.4%27.2%28.1%32.8%25.8%22.3%21.6%22.0%
Cash & Debt            
Total Cash370441381386393454426427349334321385
Total Debt554947485138293235394240
Net Debt / (Cash)-315-392-334-339-343-416-397-395-315-295-279-345
Cash Flows Quarterly            
FCF from Operations3411048615086349252674442
Cash Flows TTM            
FCF from Operations TTM252268244230262263245255204187199195
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases5040434435182339426710595
Return on Invested Capital (ROIC) Quarterly            
ROIC44.3%59.1%48.6%52.3%55.3%74.1%70.9%98.3%60.9%48.7%43.7%66.0%
Return on Invested Capital (ROIC) TTM            
ROIC TTM43.9%56.5%46.7%49.4%54.2%75.6%69.4%74.6%51.9%47.6%45.6%61.4%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Single Segment554490411363322
Total554490411363322


Price Behavior

QLYS Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta1.031.431.170.881.001.12
Up Beta3.312.632.050.941.251.26
Down Beta1.251.100.930.660.691.07
Up Capture12%80%42%82%83%72%
Bmk +ve Days13233574144420
Stock +ve Days10192965120393
Down Capture124%142%149%109%102%104%
Bmk -ve Days8192952107330
Stock -ve Days11233460130356

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity2,982,815
Short Interest: % Change Since 9152025-0.4%
Average Daily Volume316,116
Days-to-Cover Short Interest9.44
Basic Shares Quantity36,253,000
Short % of Basic Shares8.2%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/2025-0.2%-0.9%2.8%
5/6/20250.6%7.8%10.2%
2/6/2025-3.7%0.3%-11.0%
11/5/202424.2%20.5%22.3%
8/6/2024-8.6%-8.8%-9.8%
5/7/2024-9.8%-9.8%-18.6%
2/7/2024-4.2%-3.7%-4.8%
11/2/202311.3%10.0%22.9%
...
SUMMARY STATS   
# Positive101211
# Negative141213
Median Positive6.2%6.4%11.8%
Median Negative-5.9%-8.0%-8.9%
Max Positive24.2%20.8%22.9%
Max Negative-16.0%-18.8%-21.6%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025805202510-Q 6/30/2025
3312025506202510-Q 3/31/2025
12312024221202510-K 12/31/2024
93020241105202410-Q 9/30/2024
6302024806202410-Q 6/30/2024
3312024507202410-Q 3/31/2024
12312023222202410-K 12/31/2023
93020231102202310-Q 9/30/2023
6302023803202310-Q 6/30/2023
3312023504202310-Q 3/31/2023
12312022223202310-K 12/31/2022
93020221102202210-Q 9/30/2022
6302022808202210-Q 6/30/2022
3312022504202210-Q 3/31/2022
12312021222202210-K 12/31/2021
93020211103202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Berquist Thomas9032025Sell132.1815019,827720,892Form
1Zangardi John A.8292025Sell134.943,103418,720549,343Form
2Zangardi John A.8252025Sell134.823,860520,404967,197Form
3Rogers Kristi Marie8252025Sell134.701,700228,9981,157,922Form
4POSEY BRUCE KCHIEF LEGAL OFFICER8212025Sell131.8930840,6237,657,265Form

Industry Resources

External Quote Links


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