Qnity Electronics, Inc. (Q) Stock

Qnity Electronics, Inc. (Q) is a Technology stock trading at $136.41 (as of 2026-07-17), with a market capitalization of $28.56B and a trailing P/E of 37.0. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Qnity Electronics, Inc. provides electronic solutions and materials used in semiconductor chip manufacturing and advanced electronic materials. The company was formerly known as Novus SpinCo 1, Inc. and changed its name to Qnity Electronics, Inc. in April 2025.

Understand Qnity Electronics, Inc.: how it makes money

Qnity Electronics provides electronic solutions and materials used in semiconductor chip manufacturing and advanced electronic materials, generating revenue from semiconductor technologies and interconnect technologies solutions net sales.

The profit model is primarily driven by selling semiconductor technologies and interconnect technologies solutions, where a high gross margin (47.0%) supports a mid-teens operating margin (16.6%), making cost control after gross profit a key swing factor.

Revenue by segment (latest quarter)
Semiconductor Tech$0.7B
Interconnect Solutions$0.6B

Business quality (Mixed): Revenue appears concentrated in two semiconductor-related offerings with strong gross profitability, but the only provided operating KPIs show declines in comparable sales and restaurant traffic, which is a potential demand and execution risk.

Valuation: At 51× earnings, Q trades in line with the Semiconductors average (51×). Note: one-time items can distort reported P/E.

Bull case

  • High gross margin: Gross margin is 47.0%, which can provide operating flexibility if costs are managed.
  • Meaningful operating profitability: Operating margin is 16.6% for the latest reported period.
  • Positive restaurant operating profit (per provided KPI set): Restaurant Operating Profit is USD_B 0.02.

Bear case

  • Demand softness in the provided operating KPIs: Consolidated Comparable Sales Decline is 5.9% and Restaurant Traffic Decline is 6.9%.
  • Cost pressures in the provided KPI set: Company-Owned Restaurant Cost of Sales as Percent of Net Revenue is 21.1%, and Company-Owned Restaurant Operating Expenses as Percent of Net Revenue is 67.6%.
Valuation — source: SEC EDGAR (first-party)
Price$136.41
Market Cap$28.56B
P/E Ratio37.0
EV / EBITDA20.2
Price / Book3.83
Price / Sales5.88
FCF Yield4.6%
DCF Value (model)$25.30
DCF Upside vs Price-81.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$4.75B
Net Margin15.3%
Revenue Growth (YoY)17.6%
EPS Growth (YoY)-21.7%
FCF Growth (YoY)-87.4%
Financial Health — source: SEC EDGAR
Altman Z-Score3.23 (safe)
Valuation vs Sector & Industry
Stock P/E37.0
Sector P/E (Technology)34.7
Industry P/E (Electronic Equipment)40.6
vs Sector6.8%
vs Industry-8.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($2.23B)
Institutional Holders Tracked10
Congressional Trades (recent)2
Company
SectorTechnology
IndustryElectronic Equipment
CEOJon D. Kemp
CountryUS
IPO Date2025-10-27

Related Companies (Business model: Fabless Semiconductors; 8 closest by market cap; US-domiciled)

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  • Credo Technology Group Holding Ltd (CRDO)
  • MACOM Technology Solutions Holdings, Inc. (MTSI)
  • Lattice Semiconductor Corporation (LSCC)
  • Nextpower Inc. (NXT)
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  • SiTime Corporation (SITM)
Q earnings history · Q institutional & insider holders · Q KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.