Qnity Electronics (Q) FY2025 10-K Annual Report
Qnity Electronics (Q) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Qnity Electronics FY2025 10-K Analysis
Business Overview
- • Spun off from DuPont on Nov 1, 2025 via pro-rata distribution (1 Qnity share per 2 DuPont shares); began NYSE trading as "Q" on Nov 3, 2025
- • Two-segment structure: Semiconductor Technologies (CMP, lithography, cleaning, sealants, OLED) and Interconnect Solutions (packaging, thermal mgmt, PCB materials)
Management Discussion & Analysis
- • Revenue $4,754M in FY2025, up 10% YoY from $4,335M; volume +11% partially offset by price/mix -1%
- • Cost of sales flat at 54% of net sales in both 2025 and 2024; gross margin held at 46% vs 43% in 2023
Risk Factors
- • China exposure ~33% of net sales FY2025; export control restrictions and U.S.-China trade tensions threaten access to this critical market
- • Spin-Off debt load $4.1B total ([$2.35B term loan + $1.0B secured notes due 2032 + $750M unsecured notes due 2033]), pressuring cash flow from newly independent company
Qnity Electronics FY2025 Key Financial MetricsXBRL
Revenue
$4.8B
▲ +9.7% YoY
Net Income
$692M
▼ -0.1% YoY
Net Margin
14.6%
▼ -143bp YoY
ROE
9.8%
▲ +324bp YoY
Total Assets
$14.1B
▲ +14.6% YoY
EPS (Diluted)
$3.30
▼ -0.3% YoY
Operating Cash Flow
$1.3B
▲ +20.0% YoY
Source: XBRL data from Qnity Electronics FY2025 10-K filing on SEC EDGAR. All figures in USD.
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