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Friday 6 November 2026
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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.
- Revenue
- +11.9%
- EPS
- +122.7%
- Free cash flow
- +47.6%
- Total debt
- −38.4%
Quarter to September 2026, against a year earlier
75.56
1.09
+1.46%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
85.90 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Piotroski F-Score |
7 | 6 | 6 | 5 | 6 | 3 | 3 | 5 | 6 | 5 |
Altman Z-Score |
4.45 | 4.53 | 1.81 | 0.88 | 3.28 | 5.18 | 3.39 | 4.32 | 8.43 | 6.49 |
P/S ratio |
5.64 | 8.69 | 3.95 | 2.75 | 8.98 | 16.34 | 11.87 | 8.80 | 8.12 | 7.54 |
P/FCF ratio |
25.91 | 56.84 | 62.65 | 250.55 | 864.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
(0.16) | (0.38) | (0.26) | 0.25 | 0.87 | 1.70 | (0.25) | 0.92 | (0.18) | (0.02) |
Beneish M-Score |
(2.77) | (3.17) | (3.06) | (3.07) | (2.70) | (2.46) | (2.37) | (2.32) | (3.19) | (3.22) |
P/Operating CF |
70.42 | 140.57 | 67.42 | 35.51 | 113.48 | 345.67 | 1,976.64 | 250.81 | 193.69 | 236.67 |
P/B ratio |
6.78 | 11.68 | 5.50 | 3.72 | 7.86 | 10.23 | 9.87 | 13.35 | 14.77 | 11.29 |
Price to Tangible BV |
63.56 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 19.27 | 15.69 |
EV/Sales |
5.86 | 8.75 | 4.22 | 3.17 | 9.24 | 16.40 | 12.82 | 8.81 | 7.59 | 6.88 |
EV/EBITDA |
37.43 | 112.07 | 253.36 | 0.00 | 152.07 | 0.00 | 0.00 | 1,124.50 | 0.00 | 0.00 |
EV/Operating CF |
23.11 | 44.88 | 37.52 | 48.98 | 148.26 | (2,247.75) | 7,131.62 | 462.28 | 155.47 | 304.52 |
EV/FCF |
26.90 | 57.25 | 67.01 | 288.04 | 889.07 | (236.76) | (293.91) | (238.11) | (356.04) | (73.98) |
Quick Ratio |
0.89 | 1.23 | 1.94 | 2.51 | 2.84 | 3.97 | 1.19 | 2.70 | 1.69 | 1.87 |
Current Ratio |
1.02 | 1.40 | 2.23 | 2.77 | 3.10 | 4.23 | 1.40 | 2.96 | 1.93 | 2.12 |
Net Debt/EBITDA |
(1.05) | 0.80 | 15.61 | (13.38) | 4.29 | (15.70) | (38.18) | 1.90 | 24.52 | 6.08 |
Debt/Assets |
23.77% | 38.03% | 40.82% | 49.54% | 40.48% | 39.84% | 42.97% | 39.40% | 0.00% | 0.00% |
Debt/Equity |
0.46 | 0.95 | 1.09 | 1.60 | 0.98 | 0.88 | 1.14 | 1.15 | 0.00 | 0.00 |
Asset Turnover |
0.62 | 0.56 | 0.49 | 0.41 | 0.36 | 0.33 | 0.43 | 0.71 | 0.94 | 0.74 |
Operating CF/Net income |
3.87 | (3.52) | (1.08) | (0.34) | (0.28) | 0.02 | (0.01) | (0.13) | (0.36) | (0.09) |
Capex/Depreciation |
(0.33) | (0.30) | (0.32) | (0.34) | (0.24) | (0.25) | (0.24) | (0.40) | (0.58) | (0.89) |
Interest Coverage |
7.38 | (8.56) | (15.01) | (15.69) | (2.36) | (3.49) | (3.29) | (3.13) | (216.99) | (62.99) |
| 8.82% | (7.98%) | (15.07%) | (22.03%) | (18.58%) | (26.91%) | (26.33%) | (26.66%) | (25.30%) | (33.32%) | |
| 4.05% | (3.09%) | (5.13%) | (7.97%) | (8.05%) | (11.34%) | (9.62%) | (10.46%) | (12.65%) | (17.93%) | |
ROIC |
4.70% | (4.71%) | (8.80%) | (10.04%) | (6.96%) | (9.38%) | (6.16%) | (12.25%) | (360.80%) | (1,241.59%) |
Return on Tangible Assets |
130.84% | (20.15%) | (23.56%) | (27.54%) | (26.80%) | (26.47%) | (76.52%) | (19.71%) | (26.82%) | (38.70%) |
Average Days of Receivables |
23.75 | 22.06 | 25.07 | 30.16 | 34.38 | 33.02 | 25.96 | 29.78 | 24.84 | 29.74 |
Research and Development Expense of Revenue |
19.42% | 20.57% | 21.99% | 23.00% | 23.45% | 24.18% | 24.18% | 21.29% | 20.80% | 21.61% |
Selling, General and Administrative Expense of Revenue |
29.11% | 32.87% | 35.17% | 35.07% | 32.78% | 35.57% | 38.25% | 38.62% | 40.39% | 45.43% |
Intangible Assets out of Total Assets |
0.46 | 0.47 | 0.53 | 0.49 | 0.49 | 0.46 | 0.68 | 0.37 | 0.12 | 0.14 |
Share Based Compensation of Revenue |
10.94% | 12.81% | 12.68% | 11.52% | 11.21% | 12.58% | 12.84% | 12.25% | 10.79% | 8.41% |
Graham Net Nets |
(0.01) | (0.04) | (0.13) | (0.26) | (0.07) | (0.02) | (0.12) | (0.04) | 0.02 | 0.02 |
Graham Number |
14.19 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
1.16% | (0.65%) | (2.67%) | (6.95%) | (2.52%) | (2.09%) | (1.90%) | (1.65%) | (1.65%) | (3.26%) |
Free Cash Flow Yield |
3.86% | 1.76% | 1.60% | 0.40% | 0.12% | (0.42%) | (0.37%) | (0.42%) | (0.26%) | (1.23%) |
Revenue per Share |
12.79 | 11.59 | 10.70 | 9.87 | 8.84 | 7.74 | 6.83 | 5.63 | 4.71 | 3.79 |
Operating CF per Share |
3.24 | 2.26 | 1.20 | 0.64 | 0.55 | (0.06) | 0.01 | 0.11 | 0.23 | 0.09 |
Capex per Share |
(0.45) | (0.48) | (0.53) | (0.52) | (0.45) | (0.47) | (0.31) | (0.31) | (0.32) | (0.44) |
Free Cash Flow per Share |
2.79 | 1.78 | 0.68 | 0.11 | 0.10 | (0.53) | (0.30) | (0.20) | (0.09) | (0.35) |
Cash per Share |
6.99 | 7.47 | 5.62 | 7.60 | 7.64 | 10.43 | 2.94 | 4.19 | 2.47 | 2.48 |
Shareholders Equity per Share |
10.65 | 8.61 | 7.69 | 7.31 | 10.11 | 12.37 | 8.21 | 3.71 | 2.59 | 2.53 |
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 |
10.65 | 8.61 | 7.69 | 7.31 | 10.11 | 12.37 | 8.21 | 3.71 | 2.59 | 2.53 |
Free Cash Flow |
173.37 | 106.72 | 39.65 | 6.50 | 5.47 | (27.60) | (13.76) | (8.74) | (3.81) | (13.97) |
Working Capital |
11.97 | 159.76 | 236.40 | 339.03 | 354.09 | 470.39 | 53.37 | 144.63 | 63.01 | 66.46 |
Capital Expenditures |
(28.09) | (29.03) | (30.64) | (30.05) | (25.62) | (24.67) | (14.32) | (13.33) | (13.28) | (17.36) |
Net Current Asset Value |
(58.41) | (218.34) | (324.98) | (399.63) | (292.30) | (157.12) | (443.69) | (86.51) | 24.89 | 24.92 |
EV/EBIT |
116.72 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.06 | 0.05 | 0.06 | 0.07 | 0.12 |
Price to Operating Income |
112.42 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
3.04 | 3.07 | 2.34 | 1.54 | 1.63 | 1.99 | 1.50 | 0.96 | 0.66 | 0.71 |
Cash ROIC |
12.39% | 7.31% | 3.13% | 0.43% | 0.35% | (1.58%) | (1.45%) | (1.68%) | (1.83%) | (7.03%) |
Accounts Receivable Turnover |
16.95 | 16.39 | 13.94 | 12.07 | 11.96 | 13.68 | 14.98 | 14.67 | 15.25 | 14.14 |
Accounts Payable Turnover |
24.48 | 23.83 | 21.90 | 29.96 | 29.61 | 24.20 | 16.14 | 14.52 | 16.79 | 20.16 |
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 |
20.47 | 9.98 | 21.94 | 11.86 | 14.13 | 12.62 | 24.64 | 27.46 | 27.96 | 19.94 |
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 |
46.90 | 42.49 | 44.82 | 46.86 | 41.70 | 29.44 | 21.06 | 16.44 | 12.72 | 10.62 |
Average Payables |
14.91 | 14.35 | 14.70 | 10.33 | 9.24 | 9.43 | 10.07 | 8.40 | 5.93 | 3.84 |
Average Assets |
1,285.54 | 1,248.11 | 1,275.58 | 1,367.39 | 1,400.87 | 1,213.07 | 736.58 | 338.27 | 206.90 | 202.72 |
Average Common Equity |
589.80 | 483.14 | 433.75 | 494.66 | 606.83 | 511.39 | 269.16 | 132.76 | 103.43 | 109.10 |
Columns are period end dates · fundamentals updated 2 Nov 2026