Saturday 17 October 2026 Export QTWO’s income statement to Excel — free account

Q2 Holdings, Inc.

Q2 Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $794.8 million, up 14.1% from fiscal 2024. In the quarter to June 2026, revenue grew 12.6%, EPS grew 152.6%, free cash flow grew 22.3% and total debt fell 38.4%, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for five.

61.93 0.24 −0.39%

Follow QTWO

Alert me

Market cap: $3.9B
P/E: 41.8×
Fwd P/E: 28.5×
Dividend yield: —
F-score: 7/9
Altman Z: 4.45
Beneish M: −2.77
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 30.36

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	3	—	1	15	—	1	2	—	2	1	—

Insider Ownership 3.42%

Capital & Financial Ratios $m

Market Cap 3,880.00

Revenue 846.20

Net Income 91.99

Free Cash Flow 189.04

Net Debt (108.64)

Current Ratio 0.94

Debt/Equity 0.00

P/E ratio 41.84

Fwd P/E 28.50

P/S ratio 4.57

P/B ratio 6.01

Past 5Y EPS Growth —

This Y EPS Growth 13.22%

Next Y EPS Growth 20.78%

Next Y revenue growth 11.36%

Next 5Y EPS Growth 21.59%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 21.12%

10-year low 10-year high

P/B against its own 10 years 22.59%

10-year low 10-year high

EV/Sales against its own 10 years 22.56%

10-year low 10-year high

EV/FCF against its own 10 years 12.80%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	328	449	434	109
Receivables	43	42	52	71
Inventory	—	—	—	—
Other	9	8	9	9
	428	559	556	244

	2023	2024	2025	Q'26
Payables	19	9	20	16
ST’ Debt	—	190	303	—
Other	—	—	—	—
	192	399	544	259

Compound Annual Growth %

	10y	5y	3y
Sales	21.99%	14.56%	12.00%
Cash Flow	43.61%	0.00%	76.64%
Earnings	0.00%	0.00%	0.00%
Book Value	18.82%	0.57%	16.46%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	217	220	—	—	—
’25	190	195	202	208	795
’24	166	173	175	183	696
’23	153	155	155	162	625
’22	134	140	145	147	566
’21	117	124	127	132	499
’20	92	98	104	109	403

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	56	61	—	—	—
’25	44	49	46	64	201
’24	13	36	43	43	136
’23	4	13	17	37	70
’22	(5)	(9)	7	44	37
’21	(5)	11	(14)	39	31
’20	(16)	(11)	5	19	(3)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	44	51	—	—	—
’25	38	42	37	57	173
’24	6	29	35	37	107
’23	(3)	4	9	30	40
’22	(13)	(16)	(3)	38	7
’21	(12)	2	(18)	34	5
’20	(21)	(22)	3	12	(28)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.40	0.46	—	—	—
’25	0.07	0.18	0.23	0.31	0.80
’24	(0.23)	(0.22)	(0.20)	0.00	(0.64)
’23	(0.01)	(0.41)	(0.40)	(0.31)	(1.12)
’22	(0.41)	(0.44)	(0.48)	(0.56)	(1.90)
’21	(0.46)	(0.53)	(0.56)	(0.45)	(2.00)
’20	(0.70)	(0.76)	(0.50)	(0.69)	(2.65)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	16.43	28.30	36.97	46.12	47.17	69.91	20.93	18.91	39.66	58.57	Analyst estimates 2026–2028 Powerpack
	High	32.85	44.35	67.10	93.63	130.59	148.56	81.56	44.77	112.82	103.71
People
People	Employees	742	844	1,190	1,574	1,751	2,028	2,249	2,315	2,477	2,549
	Revenue/emp, $m	0.20	0.23	0.20	0.20	0.23	0.25	0.25	0.27	0.28	0.31
Income, $m
Income, $m	Revenue	150	194	241	315	403	499	566	625	696	795
	Gross margin, %	48.46	48.71	49.46	48.50	43.35	45.12	45.32	48.45	50.90	54.06
	EBT	(36)	(26)	(39)	(83)	(136)	(111)	(106)	(62)	(31)	55
	EBT margin, %	(23.92)	(13.65)	(16.26)	(26.42)	(33.82)	(22.28)	(18.75)	(9.90)	(4.43)	6.89
	Net income	(36)	(26)	(35)	(71)	(138)	(113)	(109)	(65)	(39)	52
	Depreciation	20	23	34	59	98	108	87	96	97	85
Per share, $
Per share, $	Revenue	3.79	4.71	5.63	6.83	7.74	8.84	9.87	10.70	11.59	12.79
	Earnings	(0.92)	(0.63)	(0.83)	(1.53)	(2.65)	(2.00)	(1.90)	(1.12)	(0.64)	0.84
	Cash flow	0.09	0.23	0.11	0.01	(0.06)	0.55	0.64	1.20	2.26	3.24
	Capex	(0.44)	(0.32)	(0.31)	(0.31)	(0.47)	(0.45)	(0.52)	(0.53)	(0.48)	(0.45)
	Free cash flow	(0.35)	(0.09)	(0.20)	(0.30)	(0.53)	0.10	0.11	0.68	1.78	2.79
	Book value	2.53	2.59	3.71	8.21	12.37	10.11	7.31	7.69	8.61	10.65
	Shares, m	40	41	43	46	52	56	57	58	60	62
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	85.90
	P/S	7.54	8.12	8.80	11.87	16.34	8.98	2.75	3.95	8.69	5.64
	P/B	11.29	14.77	13.35	9.87	10.23	7.86	3.72	5.50	11.68	6.78
	EV/Sales	6.88	7.59	8.81	12.82	16.40	9.24	3.17	4.22	8.75	5.86
	EV/FCF	(73.98)	(356.04)	(238.11)	(293.91)	(236.76)	889.07	288.04	67.01	57.25	26.90
Cash, $m
Cash, $m	Operating cash flow	3	9	5	1	(3)	31	37	70	136	201
	Capex	(17)	(13)	(13)	(14)	(25)	(26)	(30)	(31)	(29)	(28)
	Free cash flow	(14)	(4)	(9)	(14)	(28)	5	7	40	107	173
Balance, $m
Balance, $m	Working capital	66	63	145	53	470	354	339	236	160	12
	Total debt	—	—	183	434	564	561	669	490	492	303
	Net debt	(98)	(102)	4	298	22	130	233	162	44	(131)
	Shareholders’ equity	100	107	159	379	643	570	419	448	518	662
Returns, %
Returns, %	ROA	(17.93)	(12.65)	(10.46)	(9.62)	(11.34)	(8.05)	(7.97)	(5.13)	(3.09)	4.05
	ROIC	(1,241.59)	(360.80)	(12.25)	(6.16)	(9.38)	(6.96)	(10.04)	(8.80)	(4.71)	4.70
	ROE	(33.32)	(25.30)	(26.66)	(26.33)	(26.91)	(18.58)	(22.03)	(15.07)	(7.98)	8.82

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
WK Workiva Inc.	$4.2B	91.1×	51.7×	+18.64% (above 0%: growing)	n/m	+58.20% (above 0%: growing)	80.41%	4.57%	Compare
BILL BILL Holdings, Inc.	$4.0B	— (loss-making)	36.0×	+13.78% (above 0%: growing)	n/m	+40.99% (above 0%: growing)	81.66%	(7.85%)	Compare
FSLY Fastly, Inc.	$4.0B	— (loss-making)	— (loss-making)	+23.27% (above 0%: growing)	n/m	−68.79% (below 0%: shrinking)	63.25%	(7.87%)	Compare
MNDY monday.com Ltd.	$4.0B	37.8×	63.3×	+21.94% (above 0%: growing)	+166.67% (above 0%: growing)	−15.94% (below 0%: shrinking)	88.30%	(0.42%)	Compare
QTWO Q2 Holdings, Inc.	$3.9B	41.8×	28.5×	+12.61% (above 0%: growing)	+152.63% (above 0%: growing)	+22.28% (above 0%: growing)	59.25%	13.35%
SRAD Sportradar Group AG	$3.8B	130×	47.0×	+21.77% (above 0%: growing)	n/m	+10.16% (above 0%: growing)	85.63%	7.12%	Compare
FRSH Freshworks Inc.	$3.7B	21.1×	151×	+15.98% (above 0%: growing)	n/m	−2.84% (below 0%: shrinking)	84.79%	2.55%	Compare
BRZE Braze, Inc.	$3.5B	— (loss-making)	— (loss-making)	+26.16% (above 0%: growing)	n/m	+515.45% (above 0%: growing)	66.83%	(7.98%)	Compare
LIF Life360, Inc.	$3.4B	22.0×	32.6×	+37.77% (above 0%: growing)	−33.33% (below 0%: shrinking)	+115.99% (above 0%: growing)	79.83%	(0.04%)	Compare
Median of peers	$3.9B	37.8×	49.4×	+21.86%	—	+25.58%	81.04%	(0.23%)

All 237 Software Application stocks →

Q2 Holdings, Inc. (QTWO) key facts

Strength: Q2 Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $794.8 million, up 14.1% from fiscal 2024.
Q2 Holdings, Inc. (QTWO) is a Software Application company in the Technology sector, listed on the New York Stock Exchange.
Net income was $52.0 million, or $0.84 per share (basic), a net margin of 6.54%.
As of October 16, 2026, QTWO traded at $61.93, a market capitalization of $3.9 billion.
At that price the stock trades at 41.8× trailing-twelve-month earnings and 4.6× sales.
Return on equity was 8.82% and debt-to-equity 0.00.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 4.45 (safe zone) for fiscal 2025.