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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%
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 (below 1: weak)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 41.84 (above 35: high)
Fwd P/E 28.50
P/S ratio 4.57
P/B ratio 6.01 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth 13.22%
Next Y EPS Growth 20.78% (at or above 15%: strong)
Next Y revenue growth 11.36% (at or above 10%: strong)
Next 5Y EPS Growth 21.59% (at or above 15%: strong)

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.2×, against a ten-year median of 7.8×; over the ten years it ranged from 2.8× in 2023 to 16.6× in 2021.
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.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Q2 Holdings, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier

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.

Source: company filings (standardised) and stockrow calculations.

Q2 Holdings, Inc. (QTWO) Latest News

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stockrow.com/QTWO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com