Q
Qnity Electronics, Inc.

Qnity Electronics, Inc.Q

Technology · Semiconductor Equipment & Materials
117.00USD
+6.32%
Nov 08, 2026
Q overview ready
Supplier of advanced semiconductor process materials and packaging consumables
Qnity supplies qualified semiconductor-manufacturing materials and process consumables, while its Interconnect Solutions business also supplies materials for advanced packaging, signal integrity, and thermal management.
Theme not measured
Semiconductor Materials & Substrates has no leadership state this session.
Price trend is broken
Longer-term context reads new trend, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of what comparable businesses command.
Unremarkable fundamentals
Primary risk
Cyclicality of semiconductor capital spending impacting demand.
Market Nov 6Filing Sep 30Price action Nov 7Research Oct 1

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction3.4BusinessPerformance5.0BusinessQuality7.8Valuation3.1ThemeMomentum—Mixed — Revenue is growing at a steady pace (+22% year over year). Diluted EPS fell 14% year over year to $0.87. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Semiconductor Materials & Substrates — Semiconductor Materials & Substrates is tracked (3–4 priced members) — too few for a leadership state
Its economic family, Semiconductors, reads Lagging (−22.2pp vs SPY) — the family’s reading, not this theme’s.
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads new trend, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$24.5B
Avg Volume (60D)
1.8M
60 sessions
Revenue Growth YoY
+9.7%
FY2025 vs FY2024
Gross Margin
+46.9%
Operating Margin
+22.7%
Trailing twelve months
Free Cash Flow Yield
+3.2%
Distance from 200DMA
-9.8%
P/E
40.6x
EV / Sales
5.0x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Mixed

Revenue is growing at a steady pace (+22% year over year). Diluted EPS fell 14% year over year to $0.87.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthGrowing
+22%
$1.56B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +8.1%
  2. +18%
  3. +22%
  4. +22%
Earnings growthDeclining
-14%
Diluted EPS $0.87 vs $1.01 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. -53%
  2. -22%
  3. -34%
  4. -14%
Operating marginNot enough data
—
No year-ago comparison

Business Quality

7.8 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Only one valuation perspective could be built for this company, and it reads expensive.
Qnity Electronics, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command. It trades at a 3.2% free-cash-flow yield and 5.0x revenue, which require sustained delivery to be justified.

Company Research

Thesis
Qnity supplies qualified semiconductor-manufacturing materials and process consumables, while its Interconnect Solutions business also supplies materials for advanced packaging, signal integrity, and thermal management.
Opportunity
High opportunity
Qualified specialty chemicals, CMP consumables, lithography materials, cleans, and related process materials that enable leading-edge wafer fabrication, yield improvement, and technology migration as fabs expand and localize capacity.
Key risk
Cyclicality of semiconductor capital spending impacting demand.

Economic classification

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Business & Markets

Technology · Semiconductor Equipment & Materials
What they do

Qnity Electronics, Inc. supplies specialized materials and process solutions for semiconductor manufacturing and advanced electronics packaging globally through its two segments: Semiconductor Technologies and Interconnect Solutions.

How it earns

The company generates revenue primarily through transactional sales of semiconductor process consumables and materials to wafer fabs and electronics manufacturers.

Products & services
Chemical mechanical planarization (CMP) pads and slurries
Photoresists
Functional sub-layers
Advanced overcoats
Post-CMP cleaners
Post-etch residue removers
Emerging cleans
Materials for advanced packaging, signal integrity, and thermal management
Customers & end markets
Semiconductor wafer fabrication facilities
Advanced electronics and semiconductor packaging manufacturers
Market position

Niche supplier of qualified specialty chemicals and consumables within the semiconductor materials supply chain.

Demand drivers
High cyclicality

Semiconductor capital equipment and materials demand typically fluctuate with semiconductor industry cycles and fab investment patterns.

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