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DCF valuation

What is Qnity Electronics, Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Qnity Electronics, Inc.'s reported free cash flow gives $91.29 per share. The share price was $124.69 on September 25, 2026, 37% above that value.

Inputs from the filings

Free cash flow, fiscal 2025
$988M
Average free cash flow, last 3 years
$833.3M
Cash
$961M
balance sheet of June 30, 2026
Debt
$4B
balance sheet of June 30, 2026
Diluted shares, fiscal 2025
209,800,000
Revenue growth per year, last 2 years
8.5%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear3.5%3.0%2.0%10.0%$51.41-59%
Base8.5%5.5%2.5%9.0%$91.29-27%
Bull13.5%8.5%3.0%8.0%$170.80+37%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$121.11$130.26$141.45$155.43$173.41
8.0%$98.82$104.75$111.77$120.18$130.47
9.0%$82.55$86.60$91.29$96.75$103.21
10.0%$70.17$73.05$76.32$80.06$84.37
11.0%$60.44$62.56$64.92$67.58$70.60

Where the presets come from

Base: years 1 to 5 grow at Qnity Electronics, Inc.'s revenue growth rate over the last 2 fiscal years (8.5% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Qnity Electronics, Inc. company page