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PARTIAL
Analysis Report
Apr 22, 2026
Partial analysis — no complete end-to-end run on record.
Technology · Software - Infrastructure
Price
$90.02
Market Cap
$3.2B
Employees
2,443
Beta
0.58
Avg Volume
835,196
CEO
Sumedh S. Thakar
Business Description
Qualys, Inc. provides cloud-based information technology (IT), security, and compliance solutions in the United States and internationally. The company offers Qualys Cloud Apps, which includes Vulnerability Management; Vulnerability Management, Detection and Response; Threat Protection; Continuous Monitoring; Patch Management; Multi-Vector Endpoint Detection and Response; Certificate Assessment; SaaS Detection and Response; Secure Enterprise Mobility; Policy Compliance; Security Configuration Assessment; PCI Compliance; File Integrity Monitoring; Security Assessment Questionnaire; Out of-Band Configuration Assessment; Web Application Scanning; Web Application Firewall; Global Asset Inventory; Cybersecurity Asset Management; Certificate Inventory; Cloud Inventory; Cloud Security Assessment; and Container Security. Its integrated suite of IT, security, and compliance solutions delivered on its Qualys Cloud Platform enables customers to identify and manage IT assets, collect and analyze IT security data, discover and prioritize vulnerabilities, recommend and implement remediation actions, and verify the implementation of such actions. The company also provides asset tagging and management, reporting and dashboards, questionnaires and collaboration, remediation and workflow, big data correlation and analytics engine, and alerts and notifications, which enable integrated workflows, management and real-time analysis, and reporting across IT, security, and compliance solutions. The company offers its solutions through its sales teams, as well as through its network of channel partners, such as security consulting organizations, managed service providers, resellers, and consulting firms. It serves enterprises, government entities, and small and medium-sized businesses in various industries, including education, financial services, government, healthcare, insurance, manufacturing, media, retail, technology, and utilities. The company was incorporated in 1999 and is headquartered in Foster City, California.
Business History
Generated: Apr 22, 2026 3:12pmPrice Overview
Last updated: May 18, 2026 6:59am (just now)$90.02
+3.29 (+3.79%)
Day Range
$86.73 – $90.79
52-Week Range
$74.51 – $155.47
50-Day MA
$89.54
200-Day MA
$120.33
Volume
532,359.00
Analyst Price Targets
Low
$85.00
Consensus
$103.00
High
$125.00
(34 analysts)
Share Structure
Outstanding
35,217,007.00
Float
34,968,727.00
Free Float
99.3%
High free float
— 99.3% of shares trade freely, ~0.7% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
15.91
Stock Price: $90.02
EPS (Diluted): 5.49
EPS (Diluted): 5.49
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
8.56
Stock Price: $90.02
Total Equity: $561.15M
Shares: 36,453,000
Total Equity: $561.15M
Shares: 36,453,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
11.43
Market Cap: $3.17B
Total Debt: $52.27M
Cash: $250.26M
EBITDA: $261.32M
Total Debt: $52.27M
Cash: $250.26M
EBITDA: $261.32M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$4.7B
Market Cap: $3.17B
Total Debt: $52.27M
Cash: $250.26M
Total Debt: $52.27M
Cash: $250.26M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
82.8%
Gross Profit: $554.36M
Revenue: $669.13M
Revenue: $669.13M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
33.2%
Operating Income: $221.95M
Revenue: $669.13M
Revenue: $669.13M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
29.6%
Net Income: $198.32M
Revenue: $669.13M
Revenue: $669.13M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
37.2%
Net Income: $198.32M
Total Equity: $561.15M
Total Equity: $561.15M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
28.8%
Operating Income: $221.95M
Tax Rate: 19.7%
Equity: $561.15M
Total Debt: $52.27M
Cash: $250.26M
Tax Rate: 19.7%
Equity: $561.15M
Total Debt: $52.27M
Cash: $250.26M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.41
Current Assets: $657.62M
Current Liabilities: $467.34M
Current Liabilities: $467.34M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.09
Short-Term Debt: $7.32M
Long-Term Debt: $44.96M
Total Debt: $52.27M
Total Equity: $561.15M
Long-Term Debt: $44.96M
Total Debt: $52.27M
Total Equity: $561.15M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$18.36
Revenue: $669.13M
Shares: 36,453,000
Shares: 36,453,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$15.39
Total Equity: $561.15M
Shares: 36,453,000
Shares: 36,453,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$8.35
Operating CF: $309.40M
CapEx: -$4.99M
Shares: 36,453,000
CapEx: -$4.99M
Shares: 36,453,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $90.02
Stock Price: $90.02
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $198.32M
Net Income: $198.32M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares QLYS against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Last run: Apr 22, 2026 3:16:17 pm
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
Not applicable for Mature Earner companies
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
Not applicable for Mature Earner companies
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
Not applicable for Mature Earner companies
4h
Dividend Discount Model
— For dividend/income stocks only
Not applicable for Mature Earner companies
4i
Book Value Analysis
— For deep value / turnaround stocks only
Not applicable for Mature Earner companies
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
Not applicable for Mature Earner companies
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: May 17, 2026 11:44pm (7h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $411.2M | $489.7M | $554.5M | $607.6M | $669.1M |
| Cost of Revenue | $89.4M | $102.8M | $107.5M | $111.5M | $114.8M |
| Gross Profit | $321.7M | $386.9M | $447.0M | $496.1M | $554.4M |
| Operating Expenses | $234.1M | $256.4M | $283.9M | $308.9M | $332.4M |
| Operating Income | $87.7M | $130.5M | $163.1M | $187.2M | $222.0M |
| Net Income | $71.0M | $108.0M | $151.6M | $173.7M | $198.3M |
| EBITDA | $123.6M | $165.2M | $190.1M | $205.7M | $261.3M |
| EPS | $1.82 | $2.81 | $4.11 | $4.72 | $5.49 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: May 16, 2026 11:50pm (1d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $137.3M | $173.7M | $203.7M | $232.2M | $250.3M |
| Total Current Assets | $546.4M | $473.3M | $600.0M | $585.7M | $657.6M |
| Total Assets | $814.6M | $700.9M | $812.6M | $973.5M | $1.1B |
| Current Liabilities | $304.3M | $352.2M | $389.2M | $428.4M | $467.3M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $45.0M |
| Total Liabilities | $377.8M | $411.8M | $444.4M | $496.4M | $533.9M |
| Total Equity | $436.7M | $289.1M | $368.2M | $477.1M | $561.2M |
| Retained Earnings | -$41.7M | -$221.4M | -$228.1M | -$189.2M | -$166.7M |
Cash Flow (Annual)
Last updated: May 17, 2026 11:44pm (7h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $200.6M | $198.9M | $244.6M | $244.1M | $309.4M |
| Capital Expenditure | -$25.7M | -$24.0M | -$8.8M | -$12.3M | -$5.0M |
| Free Cash Flow | $175.0M | $174.9M | $235.8M | $231.8M | $304.4M |
| Acquisitions (net) | -$1.2M | -$145.1M | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$130.0M | -$317.3M | -$170.8M | -$139.9M | -$183.4M |
| Net Change in Cash | $63.2M | $37.9M | $29.9M | $27.0M | $18.1M |
Analyst Estimates (Annual)
Last updated: May 18, 2026 6:59am (just now)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$724.3M $721.2M – $728.8M
|
$775.3M $769.5M – $782.2M
|
$826.1M $825.6M – $826.7M
|
$950.0M $943.5M – $957.9M
|
| EBITDA |
$340.0M $338.6M – $342.1M
|
$364.0M $361.2M – $367.2M
|
$387.9M $387.6M – $388.1M
|
$446.0M $442.9M – $449.7M
|
| Net Income |
$274.7M $269.9M – $279.4M
|
$305.6M $292.1M – $319.1M
|
$313.5M $288.1M – $338.8M
|
$368.2M $364.9M – $372.2M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: May 17, 2026 11:44pm (7h ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +19.1% | +13.2% | +9.6% | +10.1% |
| Gross Profit Growth | +20.3% | +15.5% | +11.0% | +11.7% |
| Operating Income Growth | +48.9% | +24.9% | +14.8% | +18.6% |
| Net Income Growth | +52.2% | +40.4% | +14.6% | +14.2% |
| EBITDA Growth | +33.7% | +15.1% | +8.2% | +27.0% |
Insider Trading (Recent)
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-01 | POSEY BRUCE K | F-InKind | 2,270.00 | $88.53 | $200,963 |
| 2026-05-01 | Kim Joo Mi | F-InKind | 3,845.00 | $88.53 | $340,398 |
| 2026-05-01 | Thakar Sumedh S | F-InKind | 6,748.00 | $88.53 | $597,400 |
| 2026-03-13 | POSEY BRUCE K | S-Sale | 65.00 | $100.09 | $6,506 |
| 2026-03-05 | POSEY BRUCE K | S-Sale | 100.00 | $100.18 | $10,018 |
| 2026-02-20 | POSEY BRUCE K | S-Sale | 210.00 | $103.13 | $21,658 |
| 2026-02-20 | POSEY BRUCE K | S-Sale | 175.00 | $104.02 | $18,203 |
| 2026-02-20 | POSEY BRUCE K | S-Sale | 96.00 | $105.09 | $10,089 |
| 2026-02-04 | Kim Joo Mi | S-Sale | 500.00 | $125.25 | $62,627 |
| 2026-02-04 | Kim Joo Mi | S-Sale | 400.00 | $126.74 | $50,696 |
| 2026-02-04 | Kim Joo Mi | S-Sale | 2,051.00 | $128.20 | $262,935 |
| 2026-02-04 | Kim Joo Mi | S-Sale | 3,648.00 | $129.16 | $471,161 |
| 2026-02-04 | Kim Joo Mi | S-Sale | 200.00 | $129.76 | $25,951 |
| 2026-02-03 | Kim Joo Mi | A-Award | 4,796.00 | $0.00 | $0 |
| 2026-02-03 | Kim Joo Mi | A-Award | 104.00 | $0.00 | $0 |
| 2026-02-03 | Kim Joo Mi | F-InKind | 53.00 | $127.52 | $6,759 |
| 2026-02-03 | Kim Joo Mi | F-InKind | 2,441.00 | $127.52 | $311,276 |
| 2026-02-03 | Kim Joo Mi | A-Award | 3,657.00 | $0.00 | $0 |
| 2026-02-03 | Kim Joo Mi | A-Award | 5,280.00 | $0.00 | $0 |
| 2026-02-03 | Kim Joo Mi | F-InKind | 1,861.00 | $127.52 | $237,315 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for QLYS.
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.225 · d229bfb5 · 2026-05-17 18:13:06