Qnity Electronics, Inc. provides materials and solutions to the semiconductor and electronics industries in the United States, rest of Americas, Europe, the Middle East, Africa, Asia Pacific, China, South Korea, Taiwan, and internationally. The company operates in two segments, Semiconductor Technologies and Interconnect Solutions. Its Semiconductor Technologies segment offers chemical mechanical planarization (CMP) pads and slurries, photoresists, functional sub-layers, advanced overcoats, post-CMP cleaners, post-etch residue removers, and emerging cleans. The Interconnect Solutions segment provides copper pillar plating, copper redistribution layer, solder bump plating, under bump metallization, photoresists, packaging dielectrics, gap fillers, phase change, specialty thermal interface materials, thermally conductive insulators, copper playing solutions, dry film photoresists, and laminates and polyimide films. The company was formerly known as Novus SpinCo 1, Inc. and changed its name to Qnity Electronics, Inc. in April 2025. The company was incorporated in 2024 and is headquartered in Wilmington, Delaware.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.8B | $1.4B | $692M | $988M | 9.8% | 9.7% | -0.1% |
| 2024 | $4.3B | $1.3B | $693M | $861M | 6.5% | 7.4% | 36.7% |
| 2023 | $4.0B | $1.0B | $507M | $651M | 4.6% | -15.1% | -34.5% |
| 2022 | $4.8B | $1.4B | $774M | $951M | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 4,755 | 4,035 | 4,335 | 4,754 |
| Cost Of Revenue | 2,598 | 2,280 | 2,339 | 2,559 |
| Gross Profit | 2,157 | 1,755 | 1,996 | 2,195 |
| Operating Expense | 1,123 | 1,098 | 1,149 | 1,181 |
| Operating Income | 1,034 | 657 | 847 | 1,014 |
| EBITDA | 1,448 | 1,035 | 1,295 | 1,403 |
| EBIT | 1,034 | 632 | 901 | 1,027 |
| Pretax Income | 952 | 632 | 901 | 962 |
| Tax Provision | 151 | 99 | 177 | 233 |
| Net Income | 774 | 507 | 693 | 692 |
| Net Income Common Stockholders | 774 | 507 | 693 | 692 |
| Total Expenses | 3,721 | 3,378 | 3,488 | 3,740 |
| Interest Expense | - | 0 | 0 | 65 |
| Research And Development | 329 | 303 | 314 | 354 |
| Selling General And Administration | 518 | 533 | 603 | 620 |
| Normalized EBITDA | 1,578 | 1,087 | 1,303 | 1,448 |
| Normalized Income | 883.38 | 550.84 | 699.43 | 726.11 |
| Market Cap | 30,291.52 | 30,291.52 | 30,291.52 | 30,291.52 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Qnity Electronics, Inc.this co. | Q | $30.3B | 43.77β premium | 4.27 | 9.8% | 23.81 |
| Jabil Inc. | JBL | $37.4B | 54.86 | 23.82 | 43.4% | 21.88 |
| Paychex, Inc. | PAYX | $32.4B | 19.42 | 7.80 | 40.1% | 14.28 |
| Workday, Inc. | WDAY | $31.8B | 44.42 | 3.94 | 8.9% | 22.52 |
| Teledyne Technologies Incorporated | TDY | $30.0B | 33.58 |
| 2.86 |
| 8.5% |
| 21.70 |
| Cognizant Technology Solutions Corporation | CTSH | $26.9B | 11.82 | 1.76 | 14.9% | 6.30 |
| VeriSign, Inc. | VRSN | $25.2B | 29.67 | -11.37 | -38.3% | 22.08 |
| Fair Isaac Corporation | FICO | $24.3B | 36.56 | -13.65 | -37.3% | 28.15 |
| Fidelity National Information Services, Inc. | FIS | $23.9B | 61.99 | 1.70 | 2.7% | 10.55 |
| Peer Median | - | 35.07 | 2.31 | 8.7% | 21.79 | |