What is Q2 Holdings, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Q2 Holdings, Inc.'s reported free cash flow gives $96.93 per share. The share price was $75.33 on November 10, 2026, 22% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 9.5% | 10.0% | $60.58 | -20% |
| Base | 14.5% | 9.0% | $96.93 | +29% |
| Bull | 19.5% | 8.0% | $169.33 | +125% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $125.04 | $133.79 | $144.48 | $157.85 | $175.03 |
| 8.0% | $103.94 | $109.61 | $116.31 | $124.36 | $134.19 |
| 9.0% | $88.58 | $92.45 | $96.93 | $102.15 | $108.32 |
| 10.0% | $76.92 | $79.68 | $82.81 | $86.38 | $90.50 |
| 11.0% | $67.80 | $69.82 | $72.09 | $74.63 | $77.51 |
Where the presets come from
Base: years 1 to 5 grow at Q2 Holdings, Inc.'s revenue growth rate over the last 5 fiscal years (14.6% 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