Saturday 17 October 2026
Export QTWO’s income statement to Excel — free account
Q2 Holdings, Inc.
QTWO Technology Software Application
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
| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 85.90 |
Piotroski F-Score |
5 | 6 | 5 | 3 | 3 | 6 | 5 | 6 | 6 | 7 |
Altman Z-Score |
6.49 | 8.43 | 4.32 | 3.39 | 5.18 | 3.28 | 0.88 | 1.81 | 4.53 | 4.45 |
P/S ratio |
7.54 | 8.12 | 8.80 | 11.87 | 16.34 | 8.98 | 2.75 | 3.95 | 8.69 | 5.64 |
P/FCF ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 864.02 | 250.55 | 62.65 | 56.84 | 25.91 |
Altman Z″-Score (non-manufacturers) |
(0.02) | (0.18) | 0.92 | (0.25) | 1.70 | 0.87 | 0.25 | (0.26) | (0.38) | (0.16) |
Beneish M-Score |
(3.22) | (3.19) | (2.32) | (2.37) | (2.46) | (2.70) | (3.07) | (3.06) | (3.17) | (2.77) |
P/Operating CF |
236.67 | 193.69 | 250.81 | 1,976.64 | 345.67 | 113.48 | 35.51 | 67.42 | 140.57 | 70.42 |
P/B ratio |
11.29 | 14.77 | 13.35 | 9.87 | 10.23 | 7.86 | 3.72 | 5.50 | 11.68 | 6.78 |
Price to Tangible BV |
15.69 | 19.27 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 63.56 |
EV/Sales |
6.88 | 7.59 | 8.81 | 12.82 | 16.40 | 9.24 | 3.17 | 4.22 | 8.75 | 5.86 |
EV/EBITDA |
0.00 | 0.00 | 1,124.50 | 0.00 | 0.00 | 152.07 | 0.00 | 253.36 | 112.07 | 37.43 |
EV/Operating CF |
304.52 | 155.47 | 462.28 | 7,131.62 | (2,247.75) | 148.26 | 48.98 | 37.52 | 44.88 | 23.11 |
EV/FCF |
(73.98) | (356.04) | (238.11) | (293.91) | (236.76) | 889.07 | 288.04 | 67.01 | 57.25 | 26.90 |
Quick Ratio |
1.87 | 1.69 | 2.70 | 1.19 | 3.97 | 2.84 | 2.51 | 1.94 | 1.23 | 0.89 |
Current Ratio |
2.12 | 1.93 | 2.96 | 1.40 | 4.23 | 3.10 | 2.77 | 2.23 | 1.40 | 1.02 |
Net Debt/EBITDA |
6.08 | 24.52 | 1.90 | (38.18) | (15.70) | 4.29 | (13.38) | 15.61 | 0.80 | (1.05) |
Debt/Assets |
0.00% | 0.00% | 39.40% | 42.97% | 39.84% | 40.48% | 49.54% | 40.82% | 38.03% | 23.77% |
Debt/Equity |
0.00 | 0.00 | 1.15 | 1.14 | 0.88 | 0.98 | 1.60 | 1.09 | 0.95 | 0.46 |
Asset Turnover |
0.74 | 0.94 | 0.71 | 0.43 | 0.33 | 0.36 | 0.41 | 0.49 | 0.56 | 0.62 |
Operating CF/Net income |
(0.09) | (0.36) | (0.13) | (0.01) | 0.02 | (0.28) | (0.34) | (1.08) | (3.52) | 3.87 |
Capex/Depreciation |
(0.89) | (0.58) | (0.40) | (0.24) | (0.25) | (0.24) | (0.34) | (0.32) | (0.30) | (0.33) |
Interest Coverage |
(62.99) | (216.99) | (3.13) | (3.29) | (3.49) | (2.36) | (15.69) | (15.01) | (8.56) | 7.38 |
| (33.32%) | (25.30%) | (26.66%) | (26.33%) | (26.91%) | (18.58%) | (22.03%) | (15.07%) | (7.98%) | 8.82% | |
| (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% |
Return on Tangible Assets |
(38.70%) | (26.82%) | (19.71%) | (76.52%) | (26.47%) | (26.80%) | (27.54%) | (23.56%) | (20.15%) | 130.84% |
Average Days of Receivables |
29.74 | 24.84 | 29.78 | 25.96 | 33.02 | 34.38 | 30.16 | 25.07 | 22.06 | 23.75 |
Research and Development Expense of Revenue |
21.61% | 20.80% | 21.29% | 24.18% | 24.18% | 23.45% | 23.00% | 21.99% | 20.57% | 19.42% |
Selling, General and Administrative Expense of Revenue |
45.43% | 40.39% | 38.62% | 38.25% | 35.57% | 32.78% | 35.07% | 35.17% | 32.87% | 29.11% |
Intangible Assets out of Total Assets |
0.14 | 0.12 | 0.37 | 0.68 | 0.46 | 0.49 | 0.49 | 0.53 | 0.47 | 0.46 |
Share Based Compensation of Revenue |
8.41% | 10.79% | 12.25% | 12.84% | 12.58% | 11.21% | 11.52% | 12.68% | 12.81% | 10.94% |
Graham Net Nets |
0.02 | 0.02 | (0.04) | (0.12) | (0.02) | (0.07) | (0.26) | (0.13) | (0.04) | (0.01) |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 14.19 |
Earnings Yield |
(3.26%) | (1.65%) | (1.65%) | (1.90%) | (2.09%) | (2.52%) | (6.95%) | (2.67%) | (0.65%) | 1.16% |
Free Cash Flow Yield |
(1.23%) | (0.26%) | (0.42%) | (0.37%) | (0.42%) | 0.12% | 0.40% | 1.60% | 1.76% | 3.86% |
Revenue per Share |
3.79 | 4.71 | 5.63 | 6.83 | 7.74 | 8.84 | 9.87 | 10.70 | 11.59 | 12.79 |
Operating CF per Share |
0.09 | 0.23 | 0.11 | 0.01 | (0.06) | 0.55 | 0.64 | 1.20 | 2.26 | 3.24 |
Capex per Share |
(0.44) | (0.32) | (0.31) | (0.31) | (0.47) | (0.45) | (0.52) | (0.53) | (0.48) | (0.45) |
Free Cash Flow per Share |
(0.35) | (0.09) | (0.20) | (0.30) | (0.53) | 0.10 | 0.11 | 0.68 | 1.78 | 2.79 |
Cash per Share |
2.48 | 2.47 | 4.19 | 2.94 | 10.43 | 7.64 | 7.60 | 5.62 | 7.47 | 6.99 |
Shareholders Equity per Share |
2.53 | 2.59 | 3.71 | 8.21 | 12.37 | 10.11 | 7.31 | 7.69 | 8.61 | 10.65 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
2.53 | 2.59 | 3.71 | 8.21 | 12.37 | 10.11 | 7.31 | 7.69 | 8.61 | 10.65 |
Free Cash Flow |
(13.97) | (3.81) | (8.74) | (13.76) | (27.60) | 5.47 | 6.50 | 39.65 | 106.72 | 173.37 |
Working Capital |
66.46 | 63.01 | 144.63 | 53.37 | 470.39 | 354.09 | 339.03 | 236.40 | 159.76 | 11.97 |
Capital Expenditures |
(17.36) | (13.28) | (13.33) | (14.32) | (24.67) | (25.62) | (30.05) | (30.64) | (29.03) | (28.09) |
Net Current Asset Value |
24.92 | 24.89 | (86.51) | (443.69) | (157.12) | (292.30) | (399.63) | (324.98) | (218.34) | (58.41) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 116.72 |
Capex to Sales |
0.12 | 0.07 | 0.06 | 0.05 | 0.06 | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 112.42 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.71 | 0.66 | 0.96 | 1.50 | 1.99 | 1.63 | 1.54 | 2.34 | 3.07 | 3.04 |
Cash ROIC |
(7.03%) | (1.83%) | (1.68%) | (1.45%) | (1.58%) | 0.35% | 0.43% | 3.13% | 7.31% | 12.39% |
Accounts Receivable Turnover |
14.14 | 15.25 | 14.67 | 14.98 | 13.68 | 11.96 | 12.07 | 13.94 | 16.39 | 16.95 |
Accounts Payable Turnover |
20.16 | 16.79 | 14.52 | 16.14 | 24.20 | 29.61 | 29.96 | 21.90 | 23.83 | 24.48 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
19.94 | 27.96 | 27.46 | 24.64 | 12.62 | 14.13 | 11.86 | 21.94 | 9.98 | 20.47 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
10.62 | 12.72 | 16.44 | 21.06 | 29.44 | 41.70 | 46.86 | 44.82 | 42.49 | 46.90 |
Average Payables |
3.84 | 5.93 | 8.40 | 10.07 | 9.43 | 9.24 | 10.33 | 14.70 | 14.35 | 14.91 |
Average Assets |
202.72 | 206.90 | 338.27 | 736.58 | 1,213.07 | 1,400.87 | 1,367.39 | 1,275.58 | 1,248.11 | 1,285.54 |
Average Common Equity |
109.10 | 103.43 | 132.76 | 269.16 | 511.39 | 606.83 | 494.66 | 433.75 | 483.14 | 589.80 |
Columns are period end dates