Q Qnity Electronics

semiconductor · 2026-10-16

N/A

too hard · 58

Owner-earnings value$41.33

Price$119.61

Margin of safety -65.4%

Returns on capital 1.1/30

Consistency 19.7/22

Margins / pricing power 12.9/16

Balance sheet 10.3/16

Cash conversion 10/10

Capital allocation 4.5/6

⚠ sub-hurdle returns (median roic 6% < 9%)

Median ROIC6.4%

Gross margin46.2%

Net debt / EBITDA2.1x

FCF conversion129%

Profitable years4/4

Owner earnings (TTM)	627.00M
Owner-earnings yield	2.5%
Free-cash-flow yield	3.3%
Growth used (normalized)	0.0%
Market-implied growth (reverse DCF)	25.0%
Terminal growth	3.0%
Discount rate (hurdle)	9.6%

Yr	Owner earnings	Growth	PV
1	627.00M	0.0%	572.14M
2	629.09M	0.3%	523.82M
3	633.28M	0.7%	481.17M
4	639.62M	1.0%	443.46M
5	648.14M	1.3%	410.05M
6	658.95M	1.7%	380.41M
7	672.13M	2.0%	354.06M
8	687.81M	2.3%	330.62M
9	706.15M	2.7%	309.74M
10	727.34M	3.0%	291.12M

⚠ maintenance capex ≈ min(capex, D&A), capped at FCF · Price pays for ~25%/yr owner-earnings growth over 10y (reverse DCF); model credits 0%.

Date	Quality	Price	Value	MoS	Rating
2026-10-16	58	$119.61	$41.33	-65.4%	N/A
2026-09-18	58	$117.13	$42.23	-63.9%	N/A
2026-08-21	58	$133.52	$43.91	-67.1%	N/A
2026-07-24	58	$138.66	$47.40	-65.8%	N/A
2026-07-02	58	$153.37	$48.97	-68.1%	N/A
2026-06-25	58	$158.73	$48.97	-69.1%	N/A
2026-06-23	58	$161.19	$48.97	-69.6%	N/A