Qualys QLYS
United StatesTechnology · Software - InfrastructureUSD
179.36 USD (−7.9%)
18 analysts
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Qualys is a cybersecurity software company offering a cloud platform for vulnerability management, regulatory compliance, and IT asset protection, sold on an annual subscription basis.
Key points
from its scores- ✓High-quality business9.6
- ✓Very solid balance sheet8.2
- ✓Favourable backdrop8.1
- ✕Little or no dividend1.5
- ✕Demanding valuation4.4
AI analysis
bottom line, main risk, context and newsExcellent quality and balance sheet, but the current multiple limits upside potential in the near term.
Qualys combines solid financial health (net cash, DN/EBITDA -1.46) with an exceptional competitive moat (ROE 38.59%, gross margin 83.42%), although its current valuation (PER 33.75, EV/EBITDA 24.99) already discounts much of its expected growth of 11% in revenue and 16.1% in earnings.
The main risk is a slowdown in revenue growth (11%) in an increasingly competitive cybersecurity market, which may not justify the PER of 33.75 if the expansion pace moderates.
Context and risks
Qualys has no material exposure to current macro factors: its cloud cybersecurity software business does not depend on commodities, shipping routes, or interest rates significantly. With net cash, the rise in long-term rates does not pressure its balance sheet or valuation disproportionately.
Is Qualys stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 15% above the Technology median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 33.8 | 31.3 | +8% |
| EV / EBITDA | 25.0 | 20.4 | +22% |
| Price / book | 12.0 | 6.3 | +91% |
| Price / sales | 9.8 | 5.3 | +85% |
Sector: median of the 283 Technology companies analysed. In bold, the multiples used for the comparison.
Valuation score: 4.4 out of 10 (median for Technology: 5.3).
Average analyst target: 179.36 USD, −7.9% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 9.6 (sector 6.4), Growth 7.0 (sector 7.5).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Technology medianValuation
- P/E
- 33.8
- Forward P/E
- 23.0
- EV / EBITDA
- 25.0
- Price / book
- 12.0
- Price / sales
- 9.8
- PEG
- 3.43
- Market cap
- 6.9B USD
- Enterprise value
- 6.4B USD
Profitability
- ROE
- 38.6%
- ROA
- 14.6%
- ROIC (approx.)
- 38.2%
- Gross margin
- 83.4%
- Operating margin
- 34.0%
- Net margin
- 29.4%
- Free cash flow
- 244.4M USD
- FCF yield
- 3.6%
- Cash conversion
- 96%
Solvency
- Total debt
- 53.4M USD
- Net debt
- −372.9M USD
- Cash
- 426.3M USD
- EBITDA
- 254.6M USD
- Net debt / EBITDA
- −1.46
- Debt / equity
- 9.50
- Current ratio
- 1.38
- Quick ratio
- 1.27
Growth
- Revenue growth
- +11.0%
- Earnings growth
- +16.1%
- EPS (TTM)
- 5.77 USD
- EPS (forward)
- 8.45 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Beta
- 0.60
- Analyst consensus
- Hold (18)
- Target price
- 179.36 USD
- 52-week range
- 74.51 – 204.41
Recent news
All QLYS news →Compare it with its sector
All 283 in Technology →Frequently asked questions about Qualys
Is Qualys stock cheap or expensive?
On P/E and EV / EBITDA, it trades 15% above the Technology median on average. Valuation score: 4.4 out of 10 (median for Technology: 5.3). Average analyst target: 179.36 USD, −7.9% versus the price. This is not investment advice.
What score does Qualys get on MeridIAn Screener?
It scores 7.1 out of 10, rank 180 of 2,130 (better than 91% of the companies analysed). Its strongest category is Quality / Moat (9.6) and its weakest, Dividend (1.5). Analysis of 08/10/2026.
What is Qualys's P/E ratio?
Its P/E is 33.8: the share price equals 33.8 times earnings per share over the last 12 months. The Technology median is 31.3. Based on the earnings analysts expect, the forward P/E is 23.0.
How much is Qualys worth on the stock market?
Its market capitalisation is 6.9B USD and its enterprise value, debt included, is 6.4B USD.
How much debt does Qualys have?
It has more cash than debt: net cash of 372.9M USD.
Does Qualys pay a dividend?
It pays no dividend, or almost none.
How has Qualys stock performed over the last year?
It has risen 51.2% over the last year, excluding dividends. Over the last 52 weeks it has traded between 74.51 and 204.41 USD. Past performance does not guarantee future results.
What do analysts think of Qualys?
18 analysts cover it; their average recommendation is “Hold” and their average target is 179.36 USD (−7.9% versus the price). It is an estimate, not market data.