# Qnity Electronics, Inc. (Q) — Stock CV

Qnity Electronics, Inc. is a $26.6B technology company. Revenue grew 14.8% over the last year, it keeps 11¢ of every dollar of sales as profit, and its net debt equals ~3.8 years of free cash flow. It trades at 45.2× earnings — around the middle of its own history.

> Qnity is a specialty chemicals company created in 2025 after being spun off from DuPont. It sells chemicals and materials to the semiconductor industry, which generates the majority of sales, and also the electronics industry.

## Identity

- **Ticker**: Q
- **Sector**: Technology
- **Industry**: Semiconductors & Related Devices
- **Headquarters**: WILMINGTON, DE
- **Website**: https://www.qnityelectronics.com
- **Market cap**: $26.6B
- **Last price**: $127.26
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $5.21B
- **Net income**: $586M
- **Free cash flow**: $825M
- **Net debt**: $3.11B
- **P/E**: 45.2
- **Revenue growth (YoY)**: 14.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 39 |
| Growth | 45 |
| Profitability | 50 |
| Health | 80 |
| Quality | 90 |
| Moat | 70 |

## Qualifications (beginner checklist) — 9 of 10 passed

- [x] Revenue growing — +14.8% YoY
- [x] Profitable — $586M TTM
- [ ] Profit growing — -3.7% YoY
- [x] Generates cash — $825M TTM
- [x] Debt under control — ~3.8y of cash flow to repay
- [x] Established company — $26.6B market cap
- [x] Not printing shares — +0.1% shares over ~5y
- [x] Proven track record — 4/4 profitable years
- [x] Financially stable — Altman Z 2.8 — grey
- [x] Valuation not extreme — P/E 45.2

## Experience (career milestones)

- **2025** — DuPont completed the corporate spin-off of the company
- **FY2024** — Became debt-free: cash now exceeds total debt
- **FY2022** — Profitable every year on record: 4 consecutive profitable years in our data
- **FY2022** — Revenue already above $1B: $4.75B in first reported year
- **FY2022** — Best year on record: $774M net income
- **2021** — It acquired Laird Performance Materials for $2.3 billion in July 2021

## Strengths

- High gross margin (46.2%)
- Revenue growing 14.8% year over year
- Strong cash conversion — FCF is 15.8% of revenue
- Interest covered 54.4× by operating earnings

## Watch-outs

- Short reporting history — trends are less reliable

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2022 | $4.75B | $774M | $951M |
| FY2023 | $4.04B | $507M | $651M |
| FY2024 | $4.33B | $693M | $861M |
| FY2025 | $4.75B | $692M | $988M |

---

Source: https://stockcv.com/Q — derived from company filings; may be delayed or incomplete. Information, not investment advice.