Q Qnity Electronics
FY2025 10-K
Qnity Electronics (Q) filed its fiscal year 2025 10-K annual report with the SEC on Feb 26, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
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
Financial SummaryXBRL
Revenue
$4.8B
Net Income
$692M
Net Margin
14.6%
ROE
9.8%
Total Assets
$14.1B
EPS (Diluted)
$3.30
Operating Cash Flow
$1.3B
Source: XBRL data from Qnity Electronics FY2025 10-K filing on SEC EDGAR. All figures in USD.
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