Entegris vs Qnity Electronics
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KIRA’s take AI analyst
I put Entegris and Qnity Electronics side by side, using each one’s latest annual report. Here is what stands out:
- Qnity Electronics is the larger business, with $4.8B of revenue in fiscal 2025 against $3.2B for Entegris.
- Qnity Electronics grew revenue faster (9.7%, against −1.4%).
- Qnity Electronics turned more of its sales into free cash flow (20.8% FCF margin, against 12.4%).
- Qnity Electronics earned a higher return on the capital invested in it (7.3%, against 5.8%).
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Entegris
ENTG
0/7
Qnity Electronics
Q
7/7
Revenue growthGross marginNet marginFCF marginReturn on capitalReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | ENTG FY25 | Q FY25 |
|---|---|---|
| Size | ||
| Market cap | $21.5B | $24.0B |
| Revenue | $3.2B | $4.8B |
| Free cash flow | $396M | $988M |
| Net income | $236M | $729M |
| Growth | ||
| Revenue growth | −1.4% | 9.7% |
| 5-year growth | 11.5% | — |
| Share count change | 0.3% | 0.2% |
| Profitability | ||
| Gross margin | 44.4% | 46.2% |
| Operating margin | 14.3% | — |
| Net margin | 7.4% | 15.3% |
| FCF margin | 12.4% | 20.8% |
| Return on capital | 5.8% | 7.3% |
| Return on equity | 6.2% | 8.2% |
| Balance sheet | ||
| Net debt | $3.4B | $3.2B |
| Net debt / EBITDA | — | 2.3x |
| Dividends and buybacks | $60.8M | $13.0M |
| Valuation & quality | ||
| P/E | 70.1x | — |
| Piotroski F-score | 6 | — |
Ten years
Revenue
FY16
ENTG $1.2B
Q —
FY17
ENTG $1.3B
Q —
FY18
ENTG $1.6B
Q —
FY19
ENTG $1.6B
Q —
FY20
ENTG $1.9B
Q —
FY21
ENTG $2.3B
Q —
FY22
ENTG $3.3B
Q —
FY23
ENTG $3.5B
Q $4.0B
FY24
ENTG $3.2B
Q $4.3B
FY25
ENTG $3.2B
Q $4.8B
ENTG
Q
Operating margin
FY16
ENTG 13.2%
Q —
FY17
ENTG 18.0%
Q —
FY18
ENTG 18.9%
Q —
FY19
ENTG 15.0%
Q —
FY20
ENTG 21.3%
Q —
FY21
ENTG 24.0%
Q —
FY22
ENTG 14.6%
Q —
FY23
ENTG 14.2%
Q —
FY24
ENTG 16.5%
Q —
FY25
ENTG 14.3%
Q —
ENTG
Q
Free cash flow
FY16
ENTG $142M
Q —
FY17
ENTG $200M
Q —
FY18
ENTG $202M
Q —
FY19
ENTG $270M
Q —
FY20
ENTG $315M
Q —
FY21
ENTG $190M
Q —
FY22
ENTG −$103M
Q —
FY23
ENTG $188M
Q $651M
FY24
ENTG $316M
Q $861M
FY25
ENTG $396M
Q $988M
ENTG
Q
Return on capital
FY16
ENTG 11.5%
Q —
FY17
ENTG 11.4%
Q —
FY18
ENTG 22.1%
Q —
FY19
ENTG 11.9%
Q —
FY20
ENTG 18.1%
Q —
FY21
ENTG 22.8%
Q —
FY22
ENTG 7.6%
Q —
FY23
ENTG 6.2%
Q —
FY24
ENTG 6.5%
Q —
FY25
ENTG 5.8%
Q 7.3%
ENTG
Q
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.