QNITY ELECTRONICS, INC. FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$4.8B
Gross margin	46.2%
Operating income	— not reported
Net income	— not reported
Diluted EPS	$3.30
Cash & equivalents	$915.0M
Total assets	$14.1B
Long-term debt	$4.1B

Key takeaway

Qnity completed its separation from DuPont on November 1, 2025, becoming an independent NYSE-listed company trading under ticker 'Q'.

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Beneath the surface

Goodwill ($7.522 billion) plus intangibles ($1.111 billion) together represent about 61% of total assets, meaning a large share of the balance sheet reflects acquisition premiums rather than tangible operating assets, raising future impairment risk if end markets slow.

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