Qualys (QLYS) Financials

$92.14 -0.35 (-0.38%)

Closing price 04:00 PM Eastern

Extended Trading

$89.00 -3.14 (-3.41%)

As of 07:46 PM Eastern

Annual Income Statements for Qualys

This table shows Qualys' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	16	19	40	57	69	92	71	108	152	174	198
Consolidated Net Income / (Loss)	16	19	40	57	69	92	71	108	152	174	198
Net Income / (Loss) Continuing Operations	16	19	40	57	69	92	71	108	152	174	198
Total Pre-Tax Income	25	30	39	55	80	102	89	134	179	210	247
Total Operating Income	25	30	37	50	72	97	88	131	163	187	222
Total Gross Profit	130	155	179	213	252	284	322	387	447	496	554
Total Revenue	164	198	231	279	322	363	411	490	554	608	669
Operating Revenue	164	198	231	279	322	363	411	490	554	608	669
Total Cost of Revenue	34	43	52	66	70	79	89	103	107	111	115
Operating Cost of Revenue	34	43	52	66	70	79	89	103	107	111	115
Total Operating Expenses	105	125	142	162	180	187	234	256	284	309	332
Selling, General & Admin Expense	24	29	35	39	41	47	76	58	62	69	72
Marketing Expense	50	59	64	70	71	68	76	97	112	128	144
Research & Development Expense	30	37	43	53	68	73	81	101	110	112	117
Total Other Income / (Expense), net	-0.29	0.32	2.32	5.11	7.73	5.38	1.71	3.15	16	23	25
Interest & Investment Income	0.57	1.32	2.67	6.08	8.44	5.39	2.29	5.19	17	26	25
Other Income / (Expense), net	-0.85	-0.97	-0.36	-0.80	-0.61	0.01	-0.57	-2.04	-1.32	-3.16	-0.38
Income Tax Expense	8.66	11	-1.06	-1.84	11	10	18	26	27	36	49
Basic Earnings per Share	$0.47	$0.55	$1.08	$1.47	$1.77	$2.34	$1.82	$2.81	$4.11	$4.72	$5.49
Weighted Average Basic Shares Outstanding	34.05M	35.25M	37.44M	38.88M	39.08M	39.17M	39.03M	38.45M	36.88M	36.80M	36.14M
Diluted Earnings per Share	$0.42	$0.50	$1.01	$1.37	$1.68	$2.25	$1.77	$2.74	$4.03	$4.65	$5.44
Weighted Average Diluted Shares Outstanding	38.18M	38.37M	40.07M	41.90M	41.28M	40.74M	40.12M	39.34M	37.60M	37.35M	36.45M
Weighted Average Basic & Diluted Shares Outstanding	33.80M	35M	37.40M	39M	39.09M	39.21M	39.03M	37.01M	36.98M	36.48M	35.68M

This table shows Qualys' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	35	47	41	40	44	46	44	48	47	50	53
Consolidated Net Income / (Loss)	35	47	41	40	44	46	44	48	47	50	53
Net Income / (Loss) Continuing Operations	35	47	41	40	44	46	44	48	47	50	53
Total Pre-Tax Income	46	48	48	49	54	52	54	58	59	65	64
Total Operating Income	43	44	41	45	48	45	49	52	51	60	59
Total Gross Profit	111	115	117	119	122	125	130	131	135	142	146
Total Revenue	137	142	145	146	149	154	159	160	164	170	175
Operating Revenue	137	142	145	146	149	154	159	160	164	170	175
Total Cost of Revenue	27	27	27	27	26	29	29	29	29	28	29
Operating Cost of Revenue	27	27	27	27	26	29	29	29	29	28	29
Total Operating Expenses	68	72	76	74	74	80	81	79	84	82	87
Selling, General & Admin Expense	14	16	17	17	15	18	18	17	18	18	19
Marketing Expense	26	28	32	29	32	33	34	33	36	35	40
Research & Development Expense	27	28	27	28	27	29	28	29	30	29	29
Total Other Income / (Expense), net	2.85	4.43	6.12	4.72	6.12	7.37	4.42	6.55	7.41	5.33	5.59
Interest & Investment Income	3.81	5.14	5.56	6.12	6.70	6.76	6.19	6.24	6.41	6.26	6.35
Other Income / (Expense), net	-0.96	-0.71	0.56	-1.40	-0.59	0.61	-1.78	0.32	1.00	-0.94	-0.75
Income Tax Expense	10	1.51	7.00	9.75	10	6.11	9.87	11	12	15	11
Basic Earnings per Share	$0.96	$1.27	$1.09	$1.08	$1.19	$1.26	$1.19	$1.30	$1.30	$1.40	$1.49
Weighted Average Basic Shares Outstanding	36.84M	36.77M	36.88M	36.96M	36.92M	36.76M	36.80M	36.47M	36.25M	36.04M	36.14M
Diluted Earnings per Share	$0.95	$1.24	$1.07	$1.05	$1.17	$1.24	$1.19	$1.29	$1.29	$1.39	$1.47
Weighted Average Diluted Shares Outstanding	37.44M	37.45M	37.60M	37.72M	37.46M	37.14M	37.35M	36.78M	36.52M	36.29M	36.45M
Weighted Average Basic & Diluted Shares Outstanding	36.71M	36.79M	36.98M	36.94M	36.81M	36.59M	36.48M	36.33M	36.10M	35.86M	35.68M

This table details how cash moves in and out of Qualys' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	15	-3.76	-0.15	-46	47	-13	63	38	30	27	18
Net Cash From Operating Activities	66	69	108	125	161	180	201	199	245	244	309
Net Cash From Continuing Operating Activities	66	69	108	125	161	180	201	199	245	244	309
Net Income / (Loss) Continuing Operations	16	19	40	57	69	92	71	108	152	174	198
Consolidated Net Income / (Loss)	16	19	40	57	69	92	71	108	152	174	198
Depreciation Expense	14	17	21	29	31	33	36	35	27	19	14
Amortization Expense	0.59	1.00	1.32	-1.14	-1.60	0.83	3.87	0.83	-5.71	-6.74	-3.44
Non-Cash Adjustments To Reconcile Net Income	18	12	28	30	35	41	69	54	70	78	78
Changes in Operating Assets and Liabilities, net	17	20	17	10	26	14	21	1.40	1.57	-19	22
Net Cash From Investing Activities	-61	-96	-118	-94	-35	-81	-30	145	-73	-71	-106
Net Cash From Continuing Investing Activities	-61	-96	-118	-94	-35	-81	-30	145	-73	-71	-106
Purchase of Property, Plant & Equipment	-20	-23	-38	-23	-28	-30	-24	-15	-8.79	-12	-4.99
Purchase of Investments	-147	-223	-300	-342	-331	-392	-368	-179	-307	-368	-349
Sale and/or Maturity of Investments	106	150	232	285	328	342	364	348	242	309	248
Net Cash From Financing Activities	11	23	10	-77	-79	-113	-108	-306	-141	-146	-185
Net Cash From Continuing Financing Activities	11	23	10	-77	-79	-113	-108	-306	-141	-146	-185
Repurchase of Common Equity	-	0.00	0.00	-85	-86	-127	-130	-317	-171	-140	-183
Issuance of Common Equity	-	-	-	-	-	0.00	0.00	4.45	6.08	6.87	6.75
Other Financing Activities, net	11	23	10	9.17	7.38	14	22	6.87	23	-13	-8.73
Cash Income Taxes Paid	1.00	0.00	1.58	2.69	3.03	8.06	35	40	35	61	41

This table details how cash moves in and out of Qualys' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-7.71	23	-5.06	69	7.42	-46	-3.25	58	-97	31	25
Net Cash From Operating Activities	52	92	34	86	50	61	48	110	34	90	76
Net Cash From Continuing Operating Activities	52	92	34	86	50	61	48	110	34	90	76
Net Income / (Loss) Continuing Operations	35	47	41	40	44	46	44	48	47	50	53
Consolidated Net Income / (Loss)	35	47	41	40	44	46	44	48	47	50	53
Depreciation Expense	7.00	6.69	5.85	5.24	4.78	4.39	4.10	4.18	3.98	3.20	3.14
Amortization Expense	-1.15	-2.09	-2.21	-1.92	-1.61	-1.71	-1.50	-1.11	-0.90	-0.79	-0.64
Non-Cash Adjustments To Reconcile Net Income	17	19	19	19	17	20	21	19	19	20	21
Changes in Operating Assets and Liabilities, net	-6.30	23	-29	23	-14	-8.32	-20	40	-35	18	-0.76
Net Cash From Investing Activities	-17	-50	-26	8.07	-4.71	-63	-12	-7.03	-79	-11	-8.60
Net Cash From Continuing Investing Activities	-17	-50	-26	8.07	-4.71	-63	-12	-7.03	-79	-11	-8.60
Purchase of Property, Plant & Equipment	-1.42	-1.81	-1.67	-2.05	-1.03	-3.42	-5.84	-2.04	-1.33	-0.90	-0.72
Purchase of Investments	-113	-93	-54	-61	-130	-114	-62	-56	-128	-92	-74
Sale and/or Maturity of Investments	97	45	30	71	127	55	56	51	50	82	66
Net Cash From Financing Activities	-42	-20	-13	-25	-38	-44	-39	-44	-51	-48	-42
Net Cash From Continuing Financing Activities	-42	-20	-13	-25	-38	-44	-39	-44	-51	-48	-42
Repurchase of Common Equity	-42	-39	-23	-18	-35	-44	-43	-40	-50	-49	-45
Other Financing Activities, net	0.43	16	9.84	-11	-2.70	-3.04	3.64	-8.23	-1.46	-1.65	2.62

This table presents Qualys' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	324	407	538	586	676	737	815	701	813	974	1,095
Total Current Assets	229	301	369	379	396	475	546	473	600	586	658
Cash & Equivalents	92	87	87	41	88	74	137	174	204	232	250
Short-Term Investments	87	157	202	248	211	282	268	148	222	149	196
Accounts Receivable	42	47	64	76	78	100	109	122	146	165	171
Prepaid Expenses	7.95	9.81	17	14	19	19	32	30	27	40	41
Plant, Property, & Equipment, net	31	39	59	61	61	65	62	47	33	30	23
Total Noncurrent Assets	63	67	110	145	219	197	206	180	180	357	414
Long-Term Investments	43	46	67	77	120	98	111	59	57	194	251
Goodwill	0.32	0.32	1.55	7.23	7.45	7.45	7.45	7.45	7.45	7.45	7.45
Intangible Assets	1.36	0.99	12	22	17	12	6.55	13	9.72	6.81	4.26
Noncurrent Deferred & Refundable Income Taxes	16	17	25	26	19	16	25	45	63	81	75
Other Noncurrent Operating Assets	1.92	2.10	2.18	12	56	62	55	53	42	67	76
Other Noncurrent Nonoperating Assets	0.00	1.20	1.20	1.20	1.20	1.20	1.20	2.70	1.20	1.20	1.20
Total Liabilities & Shareholders' Equity	324	407	538	586	676	737	815	701	813	974	1,095
Total Liabilities	128	149	194	228	289	332	378	412	444	496	534
Total Current Liabilities	112	130	166	197	223	256	304	352	389	428	467
Accounts Payable	2.37	2.05	1.14	5.59	0.85	0.73	1.30	2.81	0.99	1.27	1.20
Accrued Expenses	12	13	21	27	23	30	33	43	43	46	58
Current Deferred Revenue	98	115	143	0.00	192	213	258	294	333	371	401
Other Current Liabilities	-	-	-	165	7.66	12	13	13	12	9.72	7.32
Total Noncurrent Liabilities	16	18	28	31	65	77	74	60	55	68	67
Noncurrent Deferred Revenue	15	16	17	0.00	21	31	33	23	32	24	16
Other Noncurrent Operating Liabilities	1.21	2.73	11	31	44	46	41	36	24	44	50
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	196	258	344	358	387	404	437	289	368	477	561
Total Preferred & Common Equity	196	258	344	358	387	404	437	289	368	477	561
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	196	258	344	358	387	404	437	289	368	477	561
Common Stock	223	267	304	331	362	401	477	513	598	665	732
Retained Earnings	-27	-8.26	40	28	23	3.57	-42	-221	-228	-189	-167
Accumulated Other Comprehensive Income / (Loss)	-0.21	-0.16	-0.57	-0.59	1.16	-0.48	1.01	-1.95	-1.70	1.42	-4.01

This table presents Qualys' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	748	676	710	752	862	877	908	996	1,000	1,032
Total Current Assets	523	465	508	562	605	534	537	602	543	597
Cash & Equivalents	194	194	186	209	274	281	235	291	194	225
Short-Term Investments	191	140	163	219	180	112	151	150	176	193
Accounts Receivable	99	102	125	103	116	110	115	122	129	128
Prepaid Expenses	39	29	34	30	36	31	35	40	44	50
Plant, Property, & Equipment, net	54	45	40	36	30	28	27	28	26	25
Total Noncurrent Assets	171	166	161	154	226	315	344	366	430	410
Long-Term Investments	71	45	39	34	90	162	187	199	251	245
Goodwill	7.45	7.45	7.45	7.45	7.45	7.45	7.45	7.45	7.45	7.45
Intangible Assets	2.02	12	11	10	8.94	8.17	7.45	6.17	5.53	4.89
Noncurrent Deferred & Refundable Income Taxes	40	50	55	57	67	70	78	86	92	76
Other Noncurrent Operating Assets	49	49	46	44	52	65	64	66	73	76
Other Noncurrent Nonoperating Assets	1.20	2.70	2.70	1.20	1.20	1.20	1.20	1.20	1.20	1.20
Total Liabilities & Shareholders' Equity	748	676	710	752	862	877	908	996	1,000	1,032
Total Liabilities	392	408	433	429	458	449	459	498	491	503
Total Current Liabilities	334	353	369	370	391	372	389	432	417	432
Accounts Payable	1.31	1.74	2.16	1.17	0.65	1.28	1.42	1.29	1.98	1.82
Accrued Expenses	43	42	53	50	48	36	40	53	53	51
Current Deferred Revenue	279	297	302	307	332	324	338	367	355	371
Other Current Liabilities	11	13	12	12	10	10	9.33	11	7.10	7.35
Total Noncurrent Liabilities	58	55	63	58	67	77	70	66	75	71
Noncurrent Deferred Revenue	24	22	35	32	31	29	23	22	19	16
Other Noncurrent Operating Liabilities	34	33	29	26	35	48	47	44	55	54
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	355	268	277	323	404	428	450	498	508	529
Total Preferred & Common Equity	355	268	277	323	404	428	450	498	508	529
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	355	268	277	323	404	428	450	498	508	529
Common Stock	511	522	534	568	611	624	642	678	692	710
Retained Earnings	-155	-252	-255	-244	-206	-196	-193	-180	-180	-177
Accumulated Other Comprehensive Income / (Loss)	0.04	-1.57	-1.72	-0.87	-1.01	-0.53	-0.29	0.14	-4.09	-4.21

This table displays calculated financial ratios and metrics derived from Qualys' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.99%	20.48%	16.62%	20.82%	15.32%	12.86%	13.28%	19.10%	13.22%	9.58%	10.13%
EBITDA Growth	88.59%	21.12%	24.87%	31.40%	30.94%	28.72%	-2.65%	29.23%	11.63%	6.99%	18.80%
EBIT Growth	193.22%	21.62%	26.61%	34.35%	44.56%	34.91%	-9.88%	47.53%	25.86%	13.78%	20.40%
NOPAT Growth	-50.57%	18.51%	101.08%	36.03%	20.39%	38.49%	-19.76%	51.50%	31.23%	11.98%	15.09%
Net Income Growth	-47.54%	21.17%	110.36%	41.70%	21.00%	32.07%	-22.51%	52.19%	40.38%	14.57%	14.19%
EPS Growth	-48.15%	19.05%	102.00%	35.64%	22.63%	33.93%	-21.33%	54.80%	47.08%	15.38%	16.99%
Operating Cash Flow Growth	59.24%	5.08%	55.31%	16.55%	28.01%	12.13%	11.40%	-0.88%	23.01%	-0.21%	26.75%
Free Cash Flow Firm Growth	51.34%	-11.39%	-22.41%	149.41%	80.55%	21.78%	-5.49%	19.33%	35.77%	-14.52%	56.81%
Invested Capital Growth	-79.78%	-21.33%	58.93%	31.65%	-260.90%	-56.12%	-58.15%	-16.22%	-24.04%	14.85%	-37.69%
Revenue Q/Q Growth	5.03%	4.09%	4.86%	4.22%	3.36%	2.87%	3.78%	4.50%	2.54%	2.47%	2.46%
EBITDA Q/Q Growth	13.63%	4.11%	3.74%	6.46%	7.05%	5.60%	4.61%	0.86%	2.80%	2.39%	4.65%
EBIT Q/Q Growth	18.71%	3.37%	3.89%	7.17%	9.61%	5.33%	6.22%	2.29%	6.52%	3.14%	4.95%
NOPAT Q/Q Growth	-57.24%	2.38%	-8.74%	23.09%	11.16%	5.01%	-2.60%	3.97%	7.91%	3.33%	4.80%
Net Income Q/Q Growth	-56.36%	2.58%	-7.02%	25.23%	9.93%	3.56%	-2.73%	6.41%	8.80%	1.98%	4.86%
EPS Q/Q Growth	-57.14%	2.04%	-8.18%	26.85%	9.80%	4.17%	-3.28%	7.45%	9.51%	2.65%	5.43%
Operating Cash Flow Q/Q Growth	13.28%	-12.26%	11.68%	0.62%	4.57%	2.93%	0.54%	2.04%	-3.93%	6.03%	9.93%
Free Cash Flow Firm Q/Q Growth	16.72%	-27.56%	-23.44%	4.43%	14.60%	9.11%	0.82%	-4.13%	-3.47%	2.90%	19.30%
Invested Capital Q/Q Growth	-48.38%	3.42%	20.13%	54.95%	16.26%	3.25%	-1.18%	8.00%	17.12%	20.25%	-1.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	79.11%	78.21%	77.65%	76.27%	78.38%	78.17%	78.25%	79.01%	80.61%	81.65%	82.85%
EBITDA Margin	23.68%	23.81%	25.49%	27.73%	31.48%	35.91%	30.86%	33.48%	33.01%	32.23%	34.77%
Operating Margin	15.10%	15.21%	16.13%	18.06%	22.47%	26.63%	21.33%	26.66%	29.41%	30.81%	33.17%
EBIT Margin	14.58%	14.72%	15.98%	17.77%	22.28%	26.63%	21.19%	26.24%	29.17%	30.29%	33.11%
Profit (Net Income) Margin	9.66%	9.71%	17.52%	20.55%	21.56%	25.23%	17.26%	22.05%	27.34%	28.59%	29.64%
Tax Burden Percent	64.70%	63.18%	102.70%	103.31%	86.69%	89.74%	79.38%	80.77%	84.86%	82.77%	80.35%
Interest Burden Percent	102.35%	104.44%	106.75%	111.92%	111.64%	105.56%	102.63%	104.04%	110.45%	114.01%	111.40%
Effective Tax Rate	35.30%	36.82%	-2.70%	-3.31%	13.31%	10.26%	20.62%	19.23%	15.14%	17.23%	19.65%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	9.13%	8.47%	13.44%	16.34%	18.62%	23.15%	16.87%	29.76%	46.13%	41.09%	38.20%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	8.21%	7.98%	7.81%	8.82%	11.36%	13.69%	11.23%	16.96%	21.37%	20.61%	21.42%
Return on Assets (ROA)	5.44%	5.26%	8.56%	10.20%	10.99%	12.97%	9.15%	14.25%	20.03%	19.45%	19.17%
Return on Common Equity (ROCE)	9.13%	8.47%	13.44%	16.34%	18.62%	23.15%	16.87%	29.76%	46.13%	41.09%	38.20%
Return on Equity Simple (ROE_SIMPLE)	8.11%	7.44%	11.77%	16.01%	17.93%	22.64%	16.25%	37.35%	41.17%	36.40%	0.00%
Net Operating Profit after Tax (NOPAT)	16	19	38	52	63	87	70	105	138	155	178
NOPAT Margin	9.77%	9.61%	16.57%	18.66%	19.48%	23.90%	16.93%	21.53%	24.96%	25.50%	26.65%
Net Nonoperating Expense Percent (NNEP)	-0.10%	0.08%	0.68%	1.46%	1.70%	1.10%	0.28%	0.57%	3.05%	3.53%	3.14%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	36.47%	37.58%	32.48%	31.78%
Cost of Revenue to Revenue	20.89%	21.79%	22.35%	23.73%	21.62%	21.83%	21.75%	20.99%	19.39%	18.35%	17.15%
SG&A Expenses to Revenue	14.80%	14.71%	15.31%	14.00%	12.68%	12.83%	18.55%	11.84%	11.14%	11.31%	10.70%
R&D to Revenue	18.53%	18.49%	18.55%	19.10%	21.22%	19.99%	19.77%	20.66%	19.92%	18.41%	17.53%
Operating Expenses to Revenue	64.01%	63.00%	61.52%	58.21%	55.92%	51.54%	56.92%	52.35%	51.20%	50.84%	49.68%
Earnings before Interest and Taxes (EBIT)	24	29	37	50	72	97	87	129	162	184	222
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	39	47	59	77	101	130	127	164	183	196	233
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.79	4.37	6.55	8.22	8.35	11.76	12.20	14.75	19.61	10.75	8.49
Price to Tangible Book Value (P/TBV)	5.84	4.39	6.83	8.95	8.91	12.35	12.60	15.86	20.57	11.08	8.67
Price to Revenue (P/Rev)	6.89	5.71	9.75	10.55	10.05	13.10	12.96	8.71	13.02	8.44	7.12
Price to Earnings (P/E)	71.32	58.76	55.65	51.36	46.61	51.93	75.08	39.48	47.63	29.54	24.03
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.40%	1.70%	1.80%	1.95%	2.15%	1.93%	1.33%	2.53%	2.10%	3.39%	4.16%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	5.53	4.24	8.21	9.24	8.75	11.85	11.70	7.93	12.15	7.50	6.08
Enterprise Value to EBITDA (EV/EBITDA)	23.37	17.83	32.20	33.33	27.78	33.00	37.92	23.68	36.81	23.26	17.49
Enterprise Value to EBIT (EV/EBIT)	37.96	28.83	51.37	52.00	39.27	44.49	55.23	30.21	41.65	24.75	18.36
Enterprise Value to NOPAT (EV/NOPAT)	56.65	44.17	49.54	49.54	44.91	49.58	69.12	36.82	48.68	29.40	22.82
Enterprise Value to Operating Cash Flow (EV/OCF)	13.79	12.12	17.60	20.54	17.52	23.88	23.98	19.53	27.54	18.66	13.15
Enterprise Value to Free Cash Flow (EV/FCFF)	32.60	34.00	98.83	53.90	32.58	40.90	48.41	32.75	41.84	33.10	18.86
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.12	-1.13	-1.08	-1.03	-1.06	-1.11	-1.16	-1.24	-1.32	-1.26	-1.23
Leverage Ratio	1.68	1.61	1.57	1.60	1.69	1.79	1.84	2.09	2.30	2.11	1.99
Compound Leverage Factor	1.72	1.68	1.68	1.79	1.89	1.88	1.89	2.17	2.54	2.41	2.22
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	6.37	5.76	8.18	8.95	7.89	9.87	9.60	7.28	11.00	7.37	6.63
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.04	2.31	2.23	1.92	1.77	1.86	1.80	1.34	1.54	1.37	1.41
Quick Ratio	1.97	2.23	2.13	1.85	1.69	1.78	1.69	1.26	1.47	1.27	1.32
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	28	25	19	48	86	105	99	119	161	138	216
Operating Cash Flow to CapEx	327.34%	298.17%	284.64%	550.88%	582.48%	608.03%	821.59%	1,294.54%	2,739.14%	1,979.03%	6,200.40%
Free Cash Flow to Firm to Interest Expense	4,648.01	950.45	6,391.14	278.03	814.56	11,682.90	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	10,993.33	2,665.77	35,882.00	729.44	1,515.16	20,009.56	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	7,635.00	1,771.73	23,276.00	597.03	1,255.04	16,718.67	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.56	0.54	0.49	0.50	0.51	0.51	0.53	0.65	0.73	0.68	0.65
Accounts Receivable Turnover	4.36	4.43	4.14	3.98	4.18	4.07	3.93	4.24	4.14	3.91	3.99
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	5.67	5.60	4.71	4.65	5.27	5.79	6.49	8.96	13.86	19.30	25.01
Accounts Payable Turnover	8.55	19.52	32.29	19.66	21.60	100.35	88.25	50.09	56.63	98.74	92.85
Days Sales Outstanding (DSO)	83.67	82.39	88.10	91.77	87.31	89.61	92.84	86.01	88.22	93.35	91.52
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	42.69	18.70	11.30	18.56	16.90	3.64	4.14	7.29	6.45	3.70	3.93
Cash Conversion Cycle (CCC)	40.98	63.69	76.80	73.21	70.41	85.97	88.71	78.72	81.77	89.65	87.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-27	-32	-13	-9.09	-33	-51	-81	-94	-117	-99	-137
Invested Capital Turnover	-7.91	-6.70	-10.11	-24.92	-15.36	-8.64	-6.22	-5.59	-5.26	-5.62	-5.66
Increase / (Decrease) in Invested Capital	-12	-5.69	19	4.21	-24	-18	-30	-13	-23	17	-37
Enterprise Value (EV)	909	840	1,895	2,577	2,813	4,300	4,811	3,883	6,737	4,555	4,069
Market Capitalization	1,132	1,130	2,251	2,943	3,232	4,755	5,327	4,263	7,220	5,131	4,766
Book Value per Share	$5.72	$7.24	$9.06	$9.09	$9.98	$10.37	$11.25	$7.61	$10.01	$13.04	$15.65
Tangible Book Value per Share	$5.67	$7.20	$8.69	$8.35	$9.35	$9.87	$10.89	$7.08	$9.54	$12.65	$15.32
Total Capital	196	258	344	358	387	404	437	289	368	477	561
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-222	-290	-356	-366	-418	-454	-516	-381	-484	-575	-697
Capital Expenditures (CapEx)	20	23	38	23	28	30	24	15	8.93	12	4.99
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-62	-74	-85	-107	-127	-136	-163	-200	-216	-224	-256
Debt-free Net Working Capital (DFNWC)	117	170	204	182	172	220	242	121	211	157	190
Net Working Capital (NWC)	117	170	204	182	172	220	242	121	211	157	190
Net Nonoperating Expense (NNE)	0.19	-0.20	-2.19	-5.28	-6.70	-4.83	-1.36	-2.55	-13	-19	-20
Net Nonoperating Obligations (NNO)	-222	-291	-357	-367	-420	-456	-518	-383	-485	-577	-698
Total Depreciation and Amortization (D&A)	15	18	22	28	30	34	40	35	21	12	11
Debt-free, Cash-free Net Working Capital to Revenue	-37.68%	-37.14%	-36.75%	-38.41%	-39.41%	-37.58%	-39.68%	-40.88%	-39.01%	-36.89%	-38.21%
Debt-free Net Working Capital to Revenue	71.25%	86.07%	88.19%	65.28%	53.53%	60.51%	58.88%	24.74%	38.02%	25.89%	28.44%
Net Working Capital to Revenue	71.25%	86.07%	88.19%	65.28%	53.53%	60.51%	58.88%	24.74%	38.02%	25.89%	28.44%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.08	$1.47	$1.77	$2.34	$1.82	$2.81	$4.11	$4.72	$5.49
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	37.44M	38.88M	39.08M	39.17M	39.03M	38.45M	36.88M	36.80M	36.14M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.01	$1.37	$1.68	$2.24	$1.77	$2.74	$4.03	$4.65	$5.44
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	40.07M	41.90M	41.35M	40.82M	40.12M	39.34M	37.60M	37.35M	36.45M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	38.63M	39.04M	39.09M	39.21M	39.03M	37.01M	36.98M	36.48M	35.68M
Normalized Net Operating Profit after Tax (NOPAT)	16	19	26	35	63	87	70	105	138	155	178
Normalized NOPAT Margin	9.77%	9.61%	11.29%	12.64%	19.48%	23.90%	16.93%	21.53%	24.96%	25.50%	26.65%
Pre Tax Income Margin	14.93%	15.37%	17.06%	19.89%	24.87%	28.11%	21.74%	27.30%	32.22%	34.53%	36.89%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3,992.67	1,120.58	12,296.00	288.14	675.91	10,740.11	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	2,675.01	731.56	12,749.14	302.49	590.90	9,637.90	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	634.33	226.54	-310.00	155.73	415.78	7,449.22	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-683.33	-162.48	143.14	170.08	330.77	6,347.01	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	148.40%	124.65%	138.39%	183.17%	293.86%	112.67%	80.54%	92.49%

This table displays calculated financial ratios and metrics derived from Qualys' official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.44%	13.09%	10.49%	11.57%	8.38%	8.36%	10.11%	9.67%	10.32%	10.41%	10.11%
EBITDA Growth	18.55%	17.38%	12.25%	10.77%	6.16%	1.58%	10.00%	18.11%	9.53%	27.33%	20.59%
EBIT Growth	33.84%	32.90%	30.81%	24.03%	13.41%	6.23%	13.34%	20.09%	10.37%	29.54%	21.93%
NOPAT Growth	21.44%	54.91%	40.03%	31.13%	17.05%	-5.97%	14.10%	17.40%	6.45%	16.46%	20.27%
Net Income Growth	33.04%	68.17%	43.31%	36.51%	23.71%	-0.65%	8.31%	19.64%	8.04%	8.95%	20.89%
EPS Growth	41.79%	74.65%	48.61%	36.36%	23.16%	0.00%	11.22%	22.86%	10.26%	12.10%	23.53%
Operating Cash Flow Growth	52.36%	119.26%	-22.82%	27.98%	-3.28%	-33.96%	41.03%	28.17%	-32.22%	48.06%	58.54%
Free Cash Flow Firm Growth	-15.90%	63.11%	51.06%	137.17%	23.88%	-70.93%	-60.30%	-28.85%	-49.92%	142.54%	273.52%
Invested Capital Growth	-9.85%	-37.69%	-24.04%	-23.95%	-13.10%	11.51%	14.85%	-1.90%	11.21%	-8.61%	-37.69%
Revenue Q/Q Growth	4.99%	3.49%	1.81%	0.85%	1.99%	3.47%	3.46%	0.44%	2.60%	3.55%	3.18%
EBITDA Q/Q Growth	13.22%	-0.47%	-3.83%	2.22%	8.50%	-4.77%	4.14%	9.77%	0.62%	10.71%	-1.38%
EBIT Q/Q Growth	19.75%	2.43%	-2.00%	3.17%	9.50%	-4.05%	4.56%	9.31%	0.64%	12.62%	-1.59%
NOPAT Q/Q Growth	21.05%	27.29%	-16.24%	1.61%	8.05%	2.25%	1.65%	4.55%	-2.03%	11.86%	4.97%
Net Income Q/Q Growth	21.57%	31.47%	-12.73%	-2.12%	10.17%	5.57%	-4.86%	8.12%	-0.51%	6.46%	5.57%
EPS Q/Q Growth	23.38%	30.53%	-13.71%	-1.87%	11.43%	5.98%	-4.03%	8.40%	0.00%	7.75%	5.76%
Operating Cash Flow Q/Q Growth	-22.90%	79.44%	-63.39%	152.68%	-41.73%	22.52%	-21.82%	129.64%	-69.18%	167.63%	-16.29%
Free Cash Flow Firm Q/Q Growth	63.14%	86.24%	-28.21%	8.73%	-14.79%	-56.29%	-1.97%	94.86%	-40.03%	111.72%	50.97%
Invested Capital Q/Q Growth	-0.47%	-23.80%	17.12%	-20.25%	8.33%	3.14%	20.25%	-43.90%	20.13%	-18.48%	-1.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	80.57%	81.17%	81.23%	81.35%	82.24%	81.26%	81.76%	81.91%	82.40%	83.64%	83.36%
EBITDA Margin	34.78%	33.45%	31.59%	32.02%	34.06%	31.35%	31.56%	34.49%	33.82%	36.16%	34.56%
Operating Margin	31.21%	30.70%	28.68%	30.70%	32.32%	29.22%	31.04%	32.37%	31.33%	35.29%	33.57%
EBIT Margin	30.51%	30.20%	29.07%	29.74%	31.93%	29.61%	29.92%	32.57%	31.94%	34.74%	33.14%
Profit (Net Income) Margin	25.79%	32.76%	28.08%	27.25%	29.43%	30.03%	27.62%	29.73%	28.82%	29.64%	30.32%
Tax Burden Percent	77.46%	96.86%	85.29%	80.29%	80.78%	88.32%	81.67%	81.52%	80.41%	77.12%	82.50%
Interest Burden Percent	109.10%	111.98%	113.24%	114.12%	114.12%	114.85%	113.00%	111.97%	112.23%	110.61%	110.92%
Effective Tax Rate	22.54%	3.14%	14.71%	19.71%	19.22%	11.68%	18.33%	18.48%	19.59%	22.88%	17.50%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	35.76%	41.09%	46.13%	48.28%	48.41%	44.09%	41.09%	40.23%	39.53%	38.64%	38.20%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	21.35%	21.78%	21.30%	22.03%	23.39%	21.15%	20.36%	21.79%	21.69%	23.38%	21.44%
Return on Assets (ROA)	18.04%	23.63%	20.57%	20.19%	21.57%	21.45%	18.79%	19.89%	19.57%	19.95%	19.62%
Return on Common Equity (ROCE)	35.76%	41.09%	46.13%	48.28%	48.41%	44.09%	41.09%	40.23%	39.53%	38.64%	38.20%
Return on Equity Simple (ROE_SIMPLE)	43.49%	43.15%	0.00%	40.13%	39.88%	37.88%	0.00%	36.44%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	33	42	35	36	39	40	40	42	41	46	49
NOPAT Margin	24.18%	29.74%	24.47%	24.65%	26.11%	25.80%	25.35%	26.39%	25.19%	27.22%	27.69%
Net Nonoperating Expense Percent (NNEP)	0.50%	0.93%	1.20%	0.82%	1.04%	1.25%	0.68%	0.90%	1.01%	0.66%	0.72%
Return On Investment Capital (ROIC_SIMPLE)	-	-	9.61%	-	-	-	8.46%	8.47%	8.13%	8.73%	8.65%
Cost of Revenue to Revenue	19.43%	18.83%	18.77%	18.65%	17.76%	18.74%	18.24%	18.09%	17.60%	16.36%	16.64%
SG&A Expenses to Revenue	10.24%	11.27%	11.45%	11.60%	10.06%	12.02%	11.54%	10.88%	10.80%	10.55%	10.59%
R&D to Revenue	19.99%	19.57%	19.00%	18.88%	18.24%	18.78%	17.78%	18.23%	18.44%	17.03%	16.52%
Operating Expenses to Revenue	49.36%	50.47%	52.55%	50.65%	49.91%	52.05%	50.72%	49.54%	51.06%	48.34%	49.79%
Earnings before Interest and Taxes (EBIT)	42	43	42	43	47	46	48	52	52	59	58
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	48	47	46	47	51	48	50	55	55	61	61
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	17.20	17.34	19.61	15.19	12.31	10.52	10.75	9.22	10.21	9.02	8.49
Price to Tangible Book Value (P/TBV)	18.45	18.36	20.57	15.83	12.78	10.88	11.08	9.48	10.48	9.24	8.67
Price to Revenue (P/Rev)	9.09	10.36	13.02	10.78	9.07	7.97	8.44	7.39	8.15	7.31	7.12
Price to Earnings (P/E)	39.56	40.20	47.63	37.84	30.87	27.77	29.54	25.31	28.05	25.25	24.03
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.53%	2.49%	2.10%	2.64%	3.24%	3.60%	3.39%	3.95%	3.56%	3.96%	4.16%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	8.35	9.50	12.15	9.82	8.11	7.01	7.50	6.36	7.17	6.30	6.08
Enterprise Value to EBITDA (EV/EBITDA)	25.60	28.86	36.81	29.83	24.74	21.73	23.26	19.36	21.85	18.50	17.49
Enterprise Value to EBIT (EV/EBIT)	31.00	33.84	41.65	32.88	26.81	23.29	24.75	20.51	23.11	19.48	18.36
Enterprise Value to NOPAT (EV/NOPAT)	38.70	40.07	48.68	38.11	30.94	27.71	29.40	24.53	27.91	24.17	22.82
Enterprise Value to Operating Cash Flow (EV/OCF)	21.42	20.18	27.54	21.25	18.01	18.05	18.66	14.74	18.12	14.61	13.15
Enterprise Value to Free Cash Flow (EV/FCFF)	35.50	30.81	41.84	32.17	28.18	31.07	33.10	24.13	30.61	22.74	18.86
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.32	-1.36	-1.32	-1.38	-1.34	-1.34	-1.26	-1.31	-1.26	-1.27	-1.23
Leverage Ratio	2.22	2.21	2.30	2.29	2.25	2.15	2.11	2.06	2.00	1.98	1.99
Compound Leverage Factor	2.43	2.48	2.61	2.61	2.57	2.47	2.39	2.31	2.25	2.19	2.21
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	7.28	8.59	10.52	8.84	7.79	6.90	6.91	6.28	7.05	6.48	6.14
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.38	1.52	1.54	1.55	1.44	1.38	1.37	1.39	1.30	1.38	1.41
Quick Ratio	1.28	1.43	1.47	1.46	1.35	1.29	1.27	1.30	1.20	1.27	1.32
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	43	81	58	63	54	23	23	45	27	57	86
Operating Cash Flow to CapEx	3,632.93%	5,112.72%	2,029.93%	4,168.94%	4,856.14%	1,784.88%	817.58%	5,377.23%	2,544.91%	10,031.30%	10,450.14%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.70	0.72	0.73	0.74	0.73	0.71	0.68	0.67	0.68	0.67	0.65
Accounts Receivable Turnover	4.71	5.35	4.14	5.24	4.96	5.43	3.91	5.24	5.35	5.37	3.99
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	10.68	12.00	13.86	15.12	17.06	18.67	19.30	21.28	23.63	25.05	25.01
Accounts Payable Turnover	50.03	87.43	56.63	90.34	62.54	84.71	98.74	116.89	71.10	70.66	92.85
Days Sales Outstanding (DSO)	77.48	68.22	88.22	69.66	73.65	67.22	93.35	69.63	68.26	68.02	91.52
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	7.30	4.17	6.45	4.04	5.84	4.31	3.70	3.12	5.13	5.17	3.93
Cash Conversion Cycle (CCC)	70.19	64.05	81.77	65.62	67.81	62.91	89.65	66.51	63.13	62.85	87.59
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-114	-141	-117	-140	-129	-125	-99	-143	-114	-135	-137
Invested Capital Turnover	-4.82	-4.45	-5.26	-4.49	-4.79	-4.47	-5.62	-4.39	-5.24	-5.02	-5.66
Increase / (Decrease) in Invested Capital	-10	-39	-23	-27	-15	16	17	-2.67	14	-11	-37
Enterprise Value (EV)	4,378	5,138	6,737	5,595	4,712	4,156	4,555	3,954	4,569	4,113	4,069
Market Capitalization	4,766	5,600	7,220	6,138	5,268	4,729	5,131	4,594	5,190	4,777	4,766
Book Value per Share	$7.51	$8.80	$10.01	$10.94	$11.58	$12.21	$13.04	$13.65	$13.99	$14.67	$15.65
Tangible Book Value per Share	$7.00	$8.31	$9.54	$10.49	$11.16	$11.81	$12.65	$13.28	$13.63	$14.32	$15.32
Total Capital	277	323	368	404	428	450	477	498	508	529	561
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-388	-463	-484	-543	-555	-573	-575	-640	-621	-664	-697
Capital Expenditures (CapEx)	1.42	1.81	1.67	2.05	1.03	3.42	5.84	2.04	1.33	0.90	0.72
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-210	-237	-216	-239	-231	-238	-224	-271	-244	-254	-256
Debt-free Net Working Capital (DFNWC)	139	192	211	214	162	148	157	170	126	165	190
Net Working Capital (NWC)	139	192	211	214	162	148	157	170	126	165	190
Net Nonoperating Expense (NNE)	-2.21	-4.29	-5.22	-3.79	-4.94	-6.51	-3.61	-5.34	-5.95	-4.11	-4.61
Net Nonoperating Obligations (NNO)	-391	-464	-485	-545	-556	-574	-577	-641	-622	-665	-698
Total Depreciation and Amortization (D&A)	5.85	4.60	3.64	3.32	3.18	2.68	2.60	3.07	3.08	2.41	2.50
Debt-free, Cash-free Net Working Capital to Revenue	-40.09%	-43.87%	-39.01%	-42.02%	-39.75%	-40.18%	-36.89%	-43.59%	-38.28%	-38.84%	-38.21%
Debt-free Net Working Capital to Revenue	26.52%	35.45%	38.02%	37.63%	27.92%	24.97%	25.89%	27.33%	19.80%	25.26%	28.44%
Net Working Capital to Revenue	26.52%	35.45%	38.02%	37.63%	27.92%	24.97%	25.89%	27.33%	19.80%	25.26%	28.44%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.96	$1.27	$1.09	$1.08	$1.19	$1.26	$1.19	$1.30	$1.30	$1.40	$1.49
Adjusted Weighted Average Basic Shares Outstanding	36.84M	36.77M	36.88M	36.96M	36.92M	36.76M	36.80M	36.47M	36.25M	36.04M	36.14M
Adjusted Diluted Earnings per Share	$0.95	$1.24	$1.07	$1.05	$1.17	$1.24	$1.19	$1.29	$1.29	$1.39	$1.47
Adjusted Weighted Average Diluted Shares Outstanding	37.44M	37.45M	37.60M	37.72M	37.46M	37.14M	37.35M	36.78M	36.52M	36.29M	36.45M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	36.71M	36.79M	36.98M	36.94M	36.81M	36.59M	36.48M	36.33M	36.10M	35.86M	35.68M
Normalized Net Operating Profit after Tax (NOPAT)	33	42	35	36	39	40	40	42	41	46	49
Normalized NOPAT Margin	24.18%	29.74%	24.47%	24.65%	26.11%	25.80%	25.35%	26.39%	25.19%	27.22%	27.69%
Pre Tax Income Margin	33.29%	33.82%	32.92%	33.94%	36.44%	34.01%	33.81%	36.46%	35.85%	38.43%	36.76%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	255.95%	181.03%	112.67%	75.38%	67.40%	70.62%	80.54%	88.99%	95.35%	95.93%	92.49%

Financials Breakdown Chart

Key Financial Trends

Qualys (NASDAQ: QLYS) has shown a clear uptrend in revenue and profitability over the past four years, supported by strong gross margins, growing cash flow from operations, and a solid balance sheet with sizeable equity and growing deferred revenue. The company’s quarterly results continue to reflect a durable software-as-a-service style business with steady cash generation and ongoing reinvestment in growth initiatives.

Revenue growth: Operating revenue rose from about $130.8 million in Q4 2022 to about $175.3 million in Q4 2025, roughly a 34% increase over four years.
Gross margin expansion: Gross margin improved from about 78.9% in Q4 2022 to about 83.4% in Q4 2025, indicating favorable mix and pricing power.
Net income and EPS growth: Net income rose from about $28.3 million in Q4 2022 to $53.15 million in Q4 2025; Basic EPS grew to $1.49 and Diluted EPS to $1.47 in Q4 2025.
Operating cash flow strength: Net cash from continuing operating activities reached about $75.7 million in Q4 2025, up from about $47.7 million in Q4 2024.
Recurring revenue base: Current deferred revenue was about $371.5 million in 2025 Q3, up from about $355.0 million in 2025 Q2, signaling a durable ARR.
Liquidity and capital position: Cash & equivalents remained robust across recent quarters (roughly $225–$290 million), with no obvious debt burden evident in the reported periods; total equity stayed strong relative to liabilities.
Equity growth and retention: Total Common Equity rose to about $529.4 million by 2025 Q3, up from about $498.0 million in earlier periods, reflecting retained earnings and measured equity activity.
Opex as growth investments: SG&A, Marketing, and R&D totaled about $87.3 million in Q4 2025 (SG&A $18.6m, Marketing $39.8m, R&D $28.9m), roughly half of quarterly revenue, supporting future growth but compressing near-term margins.
Financing activity and share repurchases: The company continued notable stock repurchases in 2025, contributing to financing outflows and negative cash flow from financing activities in several quarters.
Margin pressure risk if growth slows: The current level of operating expenses and ongoing growth investments could pressure margins if revenue growth decelerates, given the substantial but still choppy quarterly opex base.

05/05/26 09:18 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Qualys' Financials

When does Qualys' fiscal year end?

According to the most recent income statement we have on file, Qualys' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Qualys' net income changed over the last 10 years?

Qualys' net income appears to be on an upward trend, with a most recent value of $198.32 million in 2025, rising from $15.87 million in 2015. The previous period was $173.68 million in 2024. Find out what analysts predict for Qualys in the coming months.

What is Qualys' operating income?

Qualys' total operating income in 2025 was $221.95 million, based on the following breakdown:

Total Gross Profit: $554.36 million
Total Operating Expenses: $332.41 million

How has Qualys' revenue changed over the last 10 years?

Over the last 10 years, Qualys' total revenue changed from $164.28 million in 2015 to $669.13 million in 2025, a change of 307.3%.

How much debt does Qualys have?

Qualys' total liabilities were at $533.93 million at the end of 2025, a 7.6% increase from 2024, and a 317.3% increase since 2015.

How much cash does Qualys have?

In the past 10 years, Qualys' cash and equivalents has ranged from $41.03 million in 2018 to $250.26 million in 2025, and is currently $250.26 million as of their latest financial filing in 2025.

How has Qualys' book value per share changed over the last 10 years?

Over the last 10 years, Qualys' book value per share changed from 5.72 in 2015 to 15.65 in 2025, a change of 173.6%.

Related Companies

Financial statements for NASDAQ:QLYS last updated on 2/22/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Qualys (QLYS) Financials

Financials Breakdown Chart

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Qualys (QLYS) Financials

Annual Income Statements for Qualys

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Quarterly Cash Flow Statements for Qualys

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