Qualys, Inc. (QLYS) Key Metrics
QLYS valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $6.26B
- Enterprise value
- $6.02B
- P/E (TTM)
- 31.4 10-yr median 52.0
- Forward P/E
- 21.9
- PEG ratio
- 3.17
- Price / sales
- 9.1 10-yr median 10.5
- Price / book
- 11.4 10-yr median 9.9
- EV / EBITDA
- 23.7 10-yr median 31.7
- Dividend yield
- —
- Beta
- 0.60
QLYS key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsQLYS valuation Price multiples at each fiscal year-end price.
QLYS returns How much profit the business earns on the capital it uses.
QLYS per-share figures Results divided by the shares outstanding at year-end.
QLYS financial health Debt, liquidity and how easily interest is covered.
QLYS efficiency & capital use Working capital cycle and where the cash goes.
QLYS valuation history
QLYS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
QLYS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
QLYS cash returned to shareholders
QLYS price vs earnings per share
QLYS key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.84B | $5.24B | $7.38B | $4.42B | $5.50B | $4.98B | $3.45B | $3.13B | $2.38B | $1.21B |
| Enterprise value | $4.50B | $4.90B | $6.98B | $4.14B | $5.15B | $4.68B | $3.20B | $2.84B | $2.09B | $970.5M |
| P/E ratio | 24.4 | 30.2 | 48.7 | 40.9 | 77.6 | 54.3 | 49.7 | 54.6 | 58.8 | 63.2 |
| Price / sales | 7.2 | 8.6 | 13.3 | 9.0 | 13.4 | 13.7 | 10.7 | 11.2 | 10.3 | 6.1 |
| Price / book | 8.6 | 11.0 | 20.0 | 15.3 | 12.6 | 12.3 | 8.9 | 8.7 | 6.9 | 4.7 |
| Price / free cash flow | 15.9 | 22.6 | 31.3 | 25.3 | 31.5 | 33.2 | 26.7 | 30.5 | 34.1 | 27.1 |
| Price / operating cash flow | 15.7 | 21.5 | 30.2 | 22.2 | 27.4 | 27.6 | 21.5 | 24.5 | 22.1 | 17.8 |
| EV / sales | 6.7 | 8.1 | 12.6 | 8.4 | 12.5 | 12.9 | 9.9 | 10.2 | 9.1 | 4.9 |
| EV / EBITDA | 17.2 | 21.5 | 42.8 | 24.6 | 41.1 | 34.7 | 28.8 | 35.9 | 36.1 | 20.6 |
| EV / free cash flow | 14.8 | 21.2 | 29.6 | 23.7 | 29.4 | 31.2 | 24.8 | 27.7 | 29.9 | 21.6 |
| Earnings yield | 4.1% | 3.3% | 2.1% | 2.4% | 1.3% | 1.8% | 2.0% | 1.8% | 1.7% | 1.6% |
| Free cash flow yield | 6.3% | 4.4% | 3.2% | 4.0% | 3.2% | 3.0% | 3.7% | 3.3% | 2.9% | 3.7% |
| Dividend yield | — | — | — | — | 0.9% | 0.7% | 0.7% | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 3.8% | 2.7% | 2.3% | 7.2% | 3.3% | 3.2% | 3.2% | 2.7% | 0.9% | 0.0% |
| Share price at fiscal year-end | $132.90 | $140.22 | $196.28 | $112.23 | $137.22 | $121.87 | $83.37 | $74.74 | $59.35 | $31.65 |
| Per share | ||||||||||
| Revenue per share | $18.36 | $16.27 | $14.75 | $12.45 | $10.25 | $8.89 | $7.78 | $6.66 | $5.76 | $5.16 |
| Earnings per share | $5.44 | $4.65 | $4.03 | $2.74 | $1.77 | $2.24 | $1.68 | $1.37 | $1.01 | $0.50 |
| Operating cash flow per share | $8.49 | $6.53 | $6.51 | $5.05 | $5.00 | $4.41 | $3.88 | $3.05 | $2.69 | $1.78 |
| Free cash flow per share | $8.35 | $6.20 | $6.27 | $4.44 | $4.36 | $3.68 | $3.12 | $2.45 | $1.74 | $1.17 |
| Cash per share | $12.23 | $10.21 | $11.32 | $8.17 | $10.10 | $8.72 | $7.23 | $6.90 | $7.20 | $6.36 |
| Book value per share | $15.39 | $12.77 | $9.79 | $7.35 | $10.89 | $9.91 | $9.36 | $8.54 | $8.57 | $6.73 |
| Tangible book value per share | $15.07 | $12.39 | $9.33 | $6.83 | $10.54 | $9.43 | $8.77 | $7.85 | $8.23 | $6.70 |
| Dividends per share | — | — | — | — | $1.25 | $0.84 | $0.60 | — | $0.00 | $0.00 |
| Capex per share | $0.14 | $0.33 | $0.23 | $0.61 | $0.64 | $0.74 | $0.76 | $0.60 | $0.94 | $0.61 |
| Debt per share | $2.67 | $1.26 | $0.76 | $1.07 | $1.21 | $1.41 | $1.25 | $0.04 | $0.00 | $0.00 |
| Shares outstanding | 36.5M | 37.4M | 37.6M | 39.3M | 40.1M | 40.8M | 41.3M | 41.9M | 40.1M | 38.4M |
| Change in shares outstanding | −2.4% | −0.7% | −4.4% | −1.9% | −1.7% | −1.3% | −1.3% | +4.6% | +4.4% | +0.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 38.2% | 41.1% | 46.1% | 29.8% | 16.9% | 23.1% | 18.6% | 16.3% | 13.4% | 8.5% |
| Return on invested capital (ROIC) | 100.4% | 271.2% | — | 234.5% | 74.9% | 70.7% | 59.7% | 80.2% | 106.9% | 122.1% |
| Return on assets (ROA) | 19.2% | 19.4% | 20.0% | 14.3% | 9.1% | 13.0% | 11.0% | 10.2% | 8.6% | 5.3% |
| Return on tangible assets | 18.3% | 18.1% | 19.1% | 15.9% | 8.9% | 12.8% | 10.6% | 10.3% | 7.7% | 4.7% |
| Free cash flow margin | 45.5% | 38.1% | 42.5% | 35.7% | 42.6% | 41.3% | 40.1% | 36.8% | 30.3% | 22.7% |
| Income quality (OCF / net income) | 1.56 | 1.41 | 1.61 | 1.84 | 2.83 | 1.97 | 2.32 | 2.23 | 2.66 | 3.54 |
| Financial health | ||||||||||
| Total debt | $97.2M | $47.2M | $28.7M | $42.2M | $48.5M | $57.4M | $51.7M | $1.6M | $0 | $0 |
| Cash & short-term investments | $445.9M | $381.4M | $425.6M | $321.3M | $405.3M | $356.0M | $298.9M | $289.2M | $288.4M | $243.9M |
| Net debt | −$348.7M | −$334.2M | −$396.8M | −$279.1M | −$356.8M | −$298.7M | −$247.2M | −$287.6M | −$288.4M | −$243.9M |
| Debt / equity | 0.17 | 0.10 | 0.08 | 0.15 | 0.11 | 0.14 | 0.13 | 0.00 | 0.00 | 0.00 |
| Debt / assets | 0.09 | 0.05 | 0.04 | 0.06 | 0.06 | 0.08 | 0.08 | 0.00 | 0.00 | 0.00 |
| Net debt / EBITDA | −1.33 | −1.46 | −2.43 | −1.66 | −2.85 | −2.21 | −2.22 | −3.63 | −4.98 | −5.18 |
| Current ratio | 1.41 | 1.37 | 1.54 | 1.34 | 1.80 | 1.86 | 1.77 | 1.92 | 2.23 | 2.31 |
| Quick ratio | 1.41 | 1.37 | 1.60 | 1.34 | 1.80 | 1.86 | 1.77 | 1.92 | 2.23 | 2.31 |
| Interest coverage | — | — | — | 41.4 | 51.2 | — | 681.6 | 292.8 | — | — |
| Working capital | $190.3M | $157.3M | $210.8M | $121.2M | $242.1M | $219.6M | $172.1M | $182.1M | $203.6M | $170.4M |
| Invested capital | $212.4M | $142.9M | −$28.6M | $10.0M | $79.9M | $105.8M | $139.6M | $70.4M | $55.1M | $14.6M |
| Tangible asset value | $549.5M | $462.9M | $351.0M | $268.9M | $422.7M | $385.0M | $362.6M | $328.8M | $329.6M | $257.1M |
| Net current asset value | $123.7M | $89.3M | $155.6M | $61.5M | $168.6M | $143.0M | $106.8M | $151.3M | $175.4M | $152.1M |
| Graham number | $43.41 | $36.56 | $29.80 | $21.30 | $20.81 | $22.36 | $18.79 | $16.22 | $13.95 | $8.71 |
| Graham net-net per share | $1.10 | $0.23 | $2.14 | $0.02 | $2.72 | $2.42 | $1.66 | $2.82 | $3.56 | $3.40 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | $50.0M | $34.5M | $24.8M | — | $0 | $0 |
| Share buybacks (net) | $183.4M | $139.9M | $170.8M | $317.3M | $130.0M | $126.7M | $86.4M | $85.0M | $20.9M | $438,000 |
| Dividend payout ratio | — | — | — | — | 70.5% | 37.6% | 35.8% | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 60.3% | 60.4% | 72.4% | 181.5% | 102.9% | 107.4% | 86.3% | 82.8% | 30.0% | 1.0% |
| Capex / revenue | 0.7% | 2.0% | 1.6% | 4.9% | 6.2% | 8.3% | 9.8% | 9.0% | 16.4% | 11.7% |
| Capex / operating cash flow | 1.6% | 5.1% | 3.6% | 12.1% | 12.8% | 16.7% | 19.7% | 19.6% | 35.1% | 34.1% |
| Capex / depreciation | 0.34 | 0.67 | 0.33 | 0.69 | 0.71 | 0.91 | 1.01 | 0.87 | 1.83 | 1.37 |
| Stock-based compensation / revenue | 11.5% | 12.7% | 12.5% | 10.9% | 16.4% | 11.0% | 10.8% | 10.8% | 11.7% | 10.2% |
| R&D / revenue | 17.5% | 18.4% | 19.9% | 20.7% | 19.8% | 20.0% | 21.2% | 19.1% | 18.5% | 17.8% |
| SG&A / revenue | 32.1% | 32.4% | 11.1% | 31.7% | 37.2% | 31.6% | 34.7% | 39.1% | 43.0% | 45.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 91.5 | 93.4 | 88.2 | 86.0 | 92.8 | 89.6 | 87.3 | 91.8 | 88.1 | 82.4 |
| Days of inventory on hand | — | — | -70.8 | — | — | — | — | 0.0 | — | 0.0 |
| Days payables outstanding | 3.9 | 3.7 | 6.4 | 7.3 | 4.1 | 3.6 | 16.9 | 18.6 | 11.3 | 19.0 |
| Cash conversion cycle (days) | 87.6 | 89.7 | 11.0 | 78.7 | 88.7 | 86.0 | 70.4 | 73.2 | 76.8 | 63.4 |
| Receivables turnover | 3.99 | 3.91 | 4.14 | 4.24 | 3.93 | 4.07 | 4.18 | 3.98 | 4.14 | 4.43 |
| Payables turnover | 92.85 | 98.74 | 56.63 | 50.09 | 88.25 | 100.35 | 21.60 | 19.66 | 32.29 | 19.22 |
| Inventory turnover | — | — | — | — | — | — | — | 132,370,000.00 | — | 84,946,000.00 |
| Asset turnover | 0.65 | 0.68 | 0.73 | 0.65 | 0.53 | 0.51 | 0.51 | 0.50 | 0.49 | 0.54 |
| Average receivables | $167.8M | $155.4M | $134.0M | $115.4M | $104.6M | $89.1M | $76.9M | $70.1M | $55.7M | $44.7M |
| Average payables | $1.2M | $1.1M | $1.9M | $2.1M | $1.0M | $789,500 | $3.2M | $3.4M | $1.6M | $2.2M |
| Average inventory | — | — | −$20.9M | — | — | — | — | $0 | $0 | $0 |
| Intangibles / total assets | 1.1% | 1.5% | 2.1% | 2.9% | 1.7% | 2.6% | 3.6% | 5.0% | 2.6% | 0.3% |
Computed from QLYS's annual financial statements (latest annual report filed February 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
QLYS valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Qualys traded at 24.4 times earnings, against a 10-year median of 52.0. Based on the latest twelve months, the trailing P/E is 31.4 and the forward P/E is 21.9. Qualys earned a return on equity of 38.2% and a return on invested capital of 100.4% in fiscal 2025. It ended the year with $97.2 million of debt and $445.9 million in cash and short-term investments, a net cash position of $348.7 million. It returned $183.4 million to shareholders: $0 in dividends and $183.4 million in share buybacks, 60% of free cash flow. The share count fell 5.0% from 38.4M to 36.5M over 9 years.
See the QLYS income statement, the QLYS chart for price history, or the QLYS stock overview for the latest quote and news.
QLYS key metrics FAQ
What is Qualys's P/E ratio?
Qualys's trailing P/E ratio is 31.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 21.9. At the end of fiscal 2025 it was 24.4, compared with a 10-year median of 52.0.
What is Qualys's EV/EBITDA?
Qualys's enterprise value was 17.2 times EBITDA at the end of fiscal 2025 (enterprise value $4.5 billion, EBITDA $261.3 million); the current EV/EBITDA is 23.7.
What is Qualys's return on equity?
Qualys's return on equity (ROE) was 38.2% in fiscal 2025: net income of $198.3 million on average shareholders' equity of $519.1 million.
What is Qualys's ROIC?
Qualys's return on invested capital was 100.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Qualys have?
Qualys had total debt of $97.2 million at the end of fiscal 2025, a debt-to-equity ratio of 0.17 and more cash than debt.
Does Qualys buy back its shares?
Yes. Qualys spent $183.4 million on net share repurchases in fiscal 2025 Shares outstanding changed −2.4% over the year, to 36.5M..
What is Qualys's free cash flow yield?
Qualys generated $304.4 million of free cash flow in fiscal 2025, a free cash flow yield of 6.3% on its market value at year-end ($4.8 billion).
What is Qualys's current ratio?
Qualys's current ratio was 1.41 at the end of fiscal 2025: current assets were 1.41 times current liabilities.