Qnity Electronics, Inc.
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+ FollowMarket Cap$24.74B
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Earnings Call Q3 2026
November 4, 2026 - AI Summary
Strong Q3 results and continued profit growth (core “good”):
- Net sales: $1.6B, +22% YoY (also +9% sequentially)
- Adjusted operating EBITDA: $503M, +36% YoY (+17% sequentially)
- Adjusted EPS: $1.46, +55% YoY (+23% sequentially)
- Non-GAAP margins improving: Adjusted gross margin 47.8% (+270 bps YoY, +120 bps sequential); Adjusted EBITDA margin 32.3%
Segment performance highlights (good/surprising):
- Semiconductor Technologies: $797M sales, +15% YoY, +7% sequential; advanced nodes now ~44% of semi revenue (up from 42% in H1) and growing +25% YoY; adjusted EBITDA margin ~36%
- Interconnect Solutions (key driver): $759M sales, +30% YoY, +11% sequential; adjusted EBITDA margin ~31%
- Fastest-growing platforms in ICS: Thermal management, advanced packaging, AI PCBs (AI tailwinds + rising data center demand); company says the “big 3” are expanding quickly and scaling with PORs.
Outlook raised materially for FY2026 (forecast “good”):
- Full-year net sales raised by $200M; now expected $5.77B–$5.83B
- Adjusted operating EBITDA: $1.785B–$1.805B
- Adjusted EPS: $4.95–$5.05 (implies ~$0.50 higher at the midpoint)
- Adjusted free cash flow: $800M–$900M
- Q4 expectation: ~26% YoY net sales growth at the midpoint (company also reiterates typical year-end inventory management and seasonal effects)
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$27.06
77.1% downside
Current Fair Value
77.1% downsideOvervalued by 77.1% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $24.74 Billion |
|---|---|
| Enterprise Value | $27.78 Billion |
| Annual dividend | $0.30 |
| Dividend yield | 0.25% |
| Earnings per Share | $3.3 |
| Beta | 1.68 |
| Outstanding Shares | 209,400,000 |
Return
| Return on Equity | 7.35% |
|---|---|
| Return on Assets | 3.79% |
| Return on Invested Capital | 8.43% |
Valuation & Multiples
| P/E Ratio | 44.5 |
|---|---|
| PEG | -335.31 |
| Price to Sales | 4.55 |
| Price to Book Ratio | 3.2 |
| Enterprise Value to Revenue | 5.06 |
| Enterprise Value to EBIT | 25.03 |
| Enterprise Value to Net Income | 49 |
| Total Debt to Enterprise | 0.15 |
| Debt to Equity | 0.55 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 4, 2026
EPS
$1.46
Est. $1.20Revenue
$1.56 B
Est. $1.49 BNext Earnings Call
Expected Date
February 25, 2027
EPS Estimate
$1.27
Consensus analyst estimateRevenue Estimate
$1.51 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 40.75% |
|---|---|
| Total Calls | 200▼ 99.99% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 13.79%▼ 64.16% |
|---|---|
| Total Invested | $3.68B▼ 86.15% |
| Investors Holding | 665▼ 709.00% |
About Qnity Electronics, Inc.
CEO: Jon D. Kemp
Qnity Electronics, Inc. focuses on the provision of 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 nam...