Q2 Holdings, Inc. (QTWO)

Services-Prepackaged Software

Latest Price

$68.13

TTM P/E

48.32

Normalized P/E

TTM Div Yield

Fwd Div Yield

Book Value

10.28

P/B Ratio

6.63

Valuation metrics

EPS: $0.80

Book value / share: $10.55

Formula: √(22.5 × EPS × BVPS)

Graham Number

$13.78

80% downside

Base FCF: $65M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$83.55

+23% upside

EPS: $0.80

Target P/E: 48×

Formula: EPS × P/E

P/E Fair Value

$38.40

44% downside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	10.43M	$501.0M	16.73%	+395.7K	2026-06-30
Vanguard Portfolio Management LLC	4.97M	$239.0M	7.97%	+111.1K	2026-06-30
Vanguard Capital Management LLC	2.72M	$130.0M	4.36%	+18.0K	2026-06-30
State Street Corp	2.63M	$126.0M	4.22%	+134.4K	2026-06-30
Tremblant Capital Group	1.84M	$88.0M	2.95%	+139.2K	2026-06-30
Millennium Management LLC	1.81M	$86.0M	2.90%	+1.00M	2026-06-30
Nomura Asset Management International Inc.	1.63M	$78.0M	2.62%	+402.6K	2026-06-30
Geode Capital Management, LLC	1.59M	$76.0M	2.54%	+97.7K	2026-06-30
Capital Research Global Investors	1.48M	$71.0M	2.37%	-140.4K	2026-06-30
Victory Capital Management Inc	1.43M	$68.0M	2.30%	+1.26M	2026-06-30