Qnity Electronics (Q) Q3 FY2025 earnings: revenue $1.3 billion, up 11.1% on the year

Qnity Electronics, Inc. (Q) reported revenue of $1.3 billion for Q3 FY2025, the quarter ended 30 September 2025, up 11.1% on the same quarter a year earlier. Net income was $211 million, up 6.0% on the year, and diluted earnings per share $1.01. The figures are the company's own, from the 10-Q it filed with the SEC on 18 November 2025.

Revenue

$1.3 billion

+11.1% on the year · +9.1% on the quarter

Q3 FY2024Q3 FY2025

Operating margin

n/a

Q3 FY2024Q3 FY2025

Net income

$211 million

+6.0% on the year · +12.2% on the quarter

Q3 FY2024Q3 FY2025

Diluted EPS

$1.01

+6.3% on the year · +12.2% on the quarter

Q3 FY2024Q3 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q3 FY2025	Q2 FY2025	Q3 FY2024	On the quarter	On the year
Revenue	1,276	1,170	1,148	+9.1%	+11.1%
Cost of revenue	701	630	609	+11.3%	+15.1%
Gross profit	575	540	539	+6.5%	+6.7%
Gross margin	45.1%	46.2%	47.0%
Research and development	92.0	88.0	81.0	+4.5%	+13.6%
Selling, general and administrative	159	154	156	+3.2%	+1.9%
Pre-tax income	272	255	250	+6.7%	+8.8%
Income tax	49.0	57.0	43.0	-14.0%	+14.0%
Effective tax rate	18.0%	22.4%	17.2%
Net income	211	188	199	+12.2%	+6.0%
Net margin	16.5%	16.1%	17.3%
Diluted EPS	$1.01	$0.90	$0.95	+12.2%	+6.3%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2025	Q2 FY2025	Q3 FY2024	On the quarter	On the year
Operating cash flow	302	273	n/a	+10.6%
Capital expenditure	61.0	49.0	n/a	+24.5%
Free cash flow	241	224	n/a	+7.6%
Free cash flow margin	18.9%	19.1%	n/a
Cash from investing	-61.0	-49.0	n/a
Cash from financing	-286	-221	n/a
Depreciation and amortisation	94.0	92.0	102	+2.2%	-7.8%
Share-based compensation	4.0	4.0	n/a	0.0%
Buybacks	0.0	0.0	n/a
Dividends paid	0.0	0.0	n/a
Diluted shares, weighted	209m	209m	209m	-0.2%	0.0%
Shares outstanding at period end	209m	209m	209m	+0.1%	0.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2025	Q2 FY2025	Q3 FY2024	On the quarter	On the year
Shareholders' equity	9,123	11,198	11,081	-18.5%	-17.7%
Non-controlling interest	264	n/a	n/a
Debt	1,722	n/a	n/a
Operating lease liabilities	97.0	n/a	n/a
Other liabilities	1,306	n/a	n/a
Total liabilities and equity	12,512	n/a	n/a
Goodwill	7,497	n/a	n/a
Intangible assets	1,160	n/a	n/a
Cash and equivalents	128	179	155	-28.5%	-17.4%
Receivables	802	n/a	n/a
Inventory	647	n/a	n/a
Other assets	2,278	n/a	n/a
Total assets	12,512	n/a	n/a

Questions

What was Qnity Electronics' revenue in Q3 FY2025?

Qnity Electronics (Q) reported revenue of $1.3 billion for Q3 FY2025, the quarter ended 30 September 2025, up 11.1% on the same quarter a year earlier.

How much did Qnity Electronics earn in Q3 FY2025?

Net income for Q3 FY2025 was $211 million, up 6.0% on the year, and diluted earnings per share $1.01.

When did Qnity Electronics report Q3 FY2025 results?

Qnity Electronics filed its 10-Q for the quarter ended 30 September 2025 with the SEC on 18 November 2025.

Quarterly results, the last 8 quarters

	Q3 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,148	1,118	1,170	1,276	1,190	1,315	1,429	1,556
Cost of revenue	609	587	630	701	641	697	763	813
Gross profit	539	531	540	575	549	618	666	743
Gross margin	47%	47%	46%	45%	46%	47%	47%	48%
R&D	81.0	84.0	88.0	92.0	90.0	94.0	98.0	105
SG&A	156	140	154	159	167	173	200	200
Pre-tax income	250	246	255	272	189	218	199	247
Tax rate	17%	19%	22%	18%	42%	26%	32%	21%
Net income	199	193	188	211	100	151	124	183
Net margin	17%	17%	16%	17%	8%	11%	9%	12%
Diluted EPS	$0.95	$0.92	$0.90	$1.01	$0.48	$0.72	$0.59	$0.87
Operating cash flow	n/a	207	273	302	491	135	241	271
Capital expenditure	n/a	104	49.0	61.0	71.0	122	90.0	78.0
Free cash flow	n/a	103	224	241	420	13.0	151	193
Buybacks	n/a	0.0	0.0	0.0	n/a	25.0	25.0	25.0
Dividends paid	n/a	0.0	0.0	0.0	13.0	17.0	17.0	16.0
Shares outstanding	209m	209m	209m	209m	210m	209m	209m	209m
Filing	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2025, filed 18 November 2025: the filing.