Is the business good?
How good a business is QLYS?
Qualys, Inc. earns 63% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
63%
Return on invested capital · cost of capital 9.0% · 54 points above what the capital costs: growth creates value
- Operating margin
- 34%
Operating margin · Software - Infrastructure median 6.1% · 12 months to Q1 2026
- Cash conversion
- 1.44×
Cash conversion · 1.41× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −3.0%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 27% |
| FY2021 | 21% |
| FY2022 | 27% |
| FY2023 | 29% |
| FY2024 | 31% |
| FY2025 | 33% |
Details›
- Gross margin12 months to Q1 2026
- 83%
- Operating margin12 months to Q1 2026
- 34%
- Net margin12 months to Q1 2026
- 29%
- Free cash flow margin
- 42%
- R&D as % of revenue
- 17%
- Revenue, trailing twelve months
- $685M
- Free cash flow, trailing twelve months
- $290M
- Net income, trailing twelve months
- $201M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 63%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Software - Infrastructure
Ranks #22 of 78 by Smart Score