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Qnity ElectronicsQ

Legal name
Qnity Electronics, Inc.
Sector
Technology
Industry
Semiconductors & Related Devices

Stock Price $Q

Latest filings

You are here#76 of 89 in Technology by market cap

Filing record · 2025–202610-K110-Q48-K14

Q filed 1 annual reports (10-K), 4 quarterly reports (10-Q) and 14 current reports (8-K) between 2025 and 2026.

  1. FY2025 annual report10-K · Feb ’26Feb ’26
  2. Leadership change8-K · Aug ’26Aug ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  3. $4.75B
YoY changeLargest recent move+7.4%in FY24Latest +9.7%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All Q Financial Metrics53 metrics

Income Statement13

Balance Sheet23

Cash Flow12

Per Share5

02—Overview

Qnity Electronics Financial Overview 2025–2025

Updated Nov 4, 2026

Sales jumped 22% to $1.43 billiona in Q2 2026, yet diluted EPS fell 34% to $0.59. That gap is the story. AI-driven demand is real and accelerating at Qnity, but a newly levered balance sheet, one-time separation costs and a heavier tax bill are absorbing the growth before it reaches shareholders.

Revenue grew from $4.34 billion in FY2024 to $4.75 billionb in FY2025, up 10% on an 11% volume increase. Operating cash flow hit $1.27 billion in FY2025. Then came the spin-off from DuPont, and total debt went from zero to $4.0 billion. The result in Q2 2026 was $61 million of interest expense, $42 million of transformation charges (versus $2 million a year earlier) and a 31.7% effective tax rate. Underneath, the business is accelerating: Interconnect Solutions rose 30% to $685 million, Semiconductor Technologies rose 16% to $744 million, and Adjusted Operating EBITDA climbed 24% to $431 million.

The market priced this story before the strain showed. At the close of FY2025 (December 30, 2025), shares ended at $81.65c, or 24.7x diluted EPS of $3.30. Since then, management has raised 2026 net sales guidance to $5.55–$5.65 billion. Cash stood at $961 million at June 30, 2026, with $450 million of buyback capacity left and a $0.08 quarterly dividend in place.

Recent Developments (Q1 and Q2 2026)

Management raised 2026 Adjusted EPS guidance from $3.80–$4.14 in Q1 to $4.40–$4.60d in Q2, and Adjusted Free Cash Flow guidance from $500–$600 million to $600–$700 million. Adjusted EPS rose 53% to $1.19 in Q2 2026. Sequentially, net sales grew from $1.315 billion in Q1 and the effective tax rate rose from 25.7% to 31.7%, partly on a $43 million indemnification liability tied to DuPont's North Carolina PFAS settlement. A July term loan repricing cuts the SOFR margin to 1.75%, saving about $6 million a year. Ken Rizvi, CFO of Synaptics, becomes CFO on October 1, 2026.

The bull case: AI demand lifts volume and guidance, and adjusted earnings are growing far faster than GAAP. The bear case: at $140.53e, or 42.6x trailing EPS of $3.30 as of August 3, 2026, the stock leaves little room for further legal or tax surprises. That multiple reflects the Q2 filing date, not today.

What to watch: legacy DuPont indemnification costs and tax rate; first results under the new CFO

03—Filings

Recent SEC Filings

  1. 8-KQnity Electronics 8-K Report, Financial Results (Nov 4, 2026)
  2. 8-KQnity Electronics 8-K Report, Corporate Update (Sep 10, 2026)Qnity Electronics, Inc. (Q) filed this Form 8-K on September 10, 2026 under Item 8.01 (Other Events) to disclose a settlement involving its former parent-related entities. DuPont de Nemours, Inc., The Chemours Company, and Corteva Inc. with its subsidiary EIDP, Inc. announced that they entered into a Settlement Agreement with the State of North Carolina and certain municipalities. The settlement resolves claims relating to PFAS and other emissions from the Fayetteville Works facility, as well as State of North Carolina claims tied to PFAS contamination unrelated to that facility. The filing states that in the second quarter of 2026, the Company established an indemnification liability of $43 million, which remains unchanged. This amount represents the Applicable Qnity Percentage, the portion for which the Company has been contractually allocated and is required to directly pay or indemnify DuPont, of 44% of DuPont's after-tax liability for the Settlement. The filing also describes an agreement among Chemours, Corteva and DuPont regarding the 2021 Memorandum of Understanding (MOU) limit. The Settlement and future litigation settlements will be counted against that limit at net present value, treated as payable in equal annual installments over 25 years and discounted at an 8% rate. In addition, all future contributions to the MOU escrow account will be considered satisfied by payments under the New Jersey and North Carolina settlements, including the escrow contribution that would have been due in September 2026.
  3. 8-KQnity Electronics 8-K Report, Executive Changes (Aug 21, 2026)Qnity Electronics, Inc. (NYSE: Q) announced on August 21, 2026 that Ken Rizvi has been appointed Senior Vice President and Chief Financial Officer, effective October 1, 2026. Michael Goss, currently Interim Chief Financial Officer, will step down from that role on the effective date and serve as Vice President, Finance & Controllership and Principal Accounting Officer. The filing is primarily a leadership transition disclosure rather than a report of financial results. Mr. Rizvi, age 51, most recently served as SVP and CFO of Synaptics, a position he has held since July 2024. Earlier roles include SVP and CFO of Penguin Solutions, Inc. (previously SMART Global Holdings) from February 2021 to June 2024, and prior CFO positions at UTAC Holdings Ltd. and Isola Group, along with senior finance roles at Micron Technology and ON Semiconductor. The filing describes a compensation package including a $600,000 annual base salary, a 90% target short-term incentive, and a $10.0 million equity buyout award split 60% restricted stock units and 40% performance stock units, plus a $5.5 million 2026 annual long-term incentive award. For investors, the key points are the continuity of finance leadership under a new permanent CFO and the scale of the sign-on equity buyout, which is designed to replace forfeited awards from his prior employer. The filing also notes that Mr. Rizvi's appointment was not made under any arrangement with another person, and that no related-party transactions requiring disclosure exist.
  4. 8-KQnity Electronics 8-K Report, Financial Results (Aug 4, 2026)Qnity Electronics, Inc. (NYSE: Q) reported second quarter 2026 results on August 4, 2026, furnished under Item 2.02 of Form 8-K via Exhibit 99.1, a press release that also raised full-year 2026 financial guidance. Net sales were $1,429 million, up 22% year-over-year on an organic basis, with Semiconductor Technologies at $744 million and Interconnect Solutions at $685 million. The company described this as its ninth consecutive quarter of profitable growth. GAAP net income fell to $136 million from $198 million, down 31%, and GAAP diluted EPS was $0.59 versus $0.90, down 34%. Interest expense of $61 million in the quarter, which the filing shows began in 2026, was a key drag on GAAP earnings, while non-GAAP measures improved sharply. Non-GAAP results were stronger. Adjusted Operating EBITDA was $431 million, up 24% from the pro forma prior-year figure of $347 million, and Adjusted Earnings were $250 million, up 53%. Adjusted EPS was $1.19, up 53% from $0.78 on a pro forma basis. Q2 GAAP transformation, integration and other charges were $42 million, primarily IT independence costs of approximately $24 million. Six-month operating cash flow was $376 million, versus $480 million a year earlier, and capital expenditures rose to $212 million from $153 million. Cash and cash equivalents were $961 million at June 30, 2026. For full-year 2026, Qnity raised guidance to net sales of $5.55 billion to $5.65 billion, Adjusted Operating EBITDA of $1.675 billion to $1.725 billion, Adjusted EPS of $4.40 to $4.60, and Adjusted Free Cash Flow of $600 million to $700 million. Investors should note that the company's non-GAAP measures exclude significant items, amortization of intangibles, and indirect legacy costs from DuPont spin-off arrangements, and that the company did not provide a reconciliation of forward-looking non-GAAP guidance to GAAP.
  5. 8-KQnity Electronics 8-K Report, Material Agreement (Jul 1, 2026)Qnity Electronics, Inc. (Q) reported in this Current Report on Form 8-K, filed July 1, 2026, that on July 1, 2026 (the "Closing Date") it entered into Repricing Amendment No. 1 to its Credit Agreement, dated as of October 31, 2025, with JPMorgan Chase Bank, N.A. as administrative agent and collateral agent. The amendment repriced all $2,338,250,000 of Term Loans outstanding immediately before the Closing Date. Under the amendment, the interest rate on the Term Loans falls from Term SOFR plus a 2.00% margin (Base Rate Loans at 1.00%) to Term SOFR plus a 1.75% margin (Base Rate Loans at 0.75%). The repriced Term Loans carry a 1.00% premium on certain prepayments, repayments, and amendments constituting a "Repricing Event" occurring on or before the date six months after the Closing Date. The filing states that the amendment did not materially change other terms, so maturity, prepayment, security, covenants and events of default remain as described in Note 14 of the company's 2025 Form 10-K. The filing is a notice of a material definitive agreement and direct financial obligation (Items 1.01 and 2.03). The full amendment is filed as Exhibit 10.1.
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04—See also

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