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Side-by-side financial comparison of EnerSys (ENS) and Qnity Electronics, Inc. (Q). Click either name above to swap in a different company.
Qnity Electronics, Inc. is the larger business by last-quarter revenue ($1.3B vs $919.1M, roughly 1.4× EnerSys). Qnity Electronics, Inc. runs the higher net margin — 16.5% vs 9.8%, a 6.7% gap on every dollar of revenue. On growth, Qnity Electronics, Inc. posted the faster year-over-year revenue change (11.1% vs 1.4%). Qnity Electronics, Inc. produced more free cash flow last quarter ($568.0M vs $171.3M).
EnerSys is a stored energy systems and technology provider for industrial applications. The company manufactures reserve-power and motive-power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosures.
ENS vs Q — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $919.1M | $1.3B |
| Net Profit | $90.4M | $211.0M |
| Gross Margin | 30.1% | 45.1% |
| Operating Margin | 13.5% | 21.3% |
| Net Margin | 9.8% | 16.5% |
| Revenue YoY | 1.4% | 11.1% |
| Net Profit YoY | -21.3% | 6.0% |
| EPS (diluted) | $2.40 | $1.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $919.1M | — | ||
| Q3 25 | $951.3M | $1.3B | ||
| Q2 25 | $893.0M | — | ||
| Q1 25 | $974.8M | — | ||
| Q4 24 | $906.2M | — | ||
| Q3 24 | $883.7M | $1.1B | ||
| Q2 24 | $852.9M | — | ||
| Q1 24 | $910.7M | — |
| Q4 25 | $90.4M | — | ||
| Q3 25 | $68.4M | $211.0M | ||
| Q2 25 | $57.5M | — | ||
| Q1 25 | $96.5M | — | ||
| Q4 24 | $114.8M | — | ||
| Q3 24 | $82.3M | $199.0M | ||
| Q2 24 | $70.1M | — | ||
| Q1 24 | $60.9M | — |
| Q4 25 | 30.1% | — | ||
| Q3 25 | 29.1% | 45.1% | ||
| Q2 25 | 28.4% | — | ||
| Q1 25 | 31.2% | — | ||
| Q4 24 | 32.9% | — | ||
| Q3 24 | 28.5% | 47.0% | ||
| Q2 24 | 27.9% | — | ||
| Q1 24 | 27.9% | — |
| Q4 25 | 13.5% | — | ||
| Q3 25 | 9.7% | 21.3% | ||
| Q2 25 | 9.7% | — | ||
| Q1 25 | 13.5% | — | ||
| Q4 24 | 15.7% | — | ||
| Q3 24 | 11.2% | 21.8% | ||
| Q2 24 | 10.7% | — | ||
| Q1 24 | 8.9% | — |
| Q4 25 | 9.8% | — | ||
| Q3 25 | 7.2% | 16.5% | ||
| Q2 25 | 6.4% | — | ||
| Q1 25 | 9.9% | — | ||
| Q4 24 | 12.7% | — | ||
| Q3 24 | 9.3% | 17.3% | ||
| Q2 24 | 8.2% | — | ||
| Q1 24 | 6.7% | — |
| Q4 25 | $2.40 | — | ||
| Q3 25 | $1.80 | $1.01 | ||
| Q2 25 | $1.46 | — | ||
| Q1 25 | $2.39 | — | ||
| Q4 24 | $2.88 | — | ||
| Q3 24 | $2.01 | $0.95 | ||
| Q2 24 | $1.71 | — | ||
| Q1 24 | $1.48 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $450.1M | $128.0M |
| Total DebtLower is stronger | — | $1.7B |
| Stockholders' EquityBook value | $1.9B | $9.1B |
| Total Assets | $4.0B | $12.5B |
| Debt / EquityLower = less leverage | — | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $450.1M | — | ||
| Q3 25 | $388.6M | $128.0M | ||
| Q2 25 | $346.7M | — | ||
| Q1 25 | $343.1M | — | ||
| Q4 24 | $463.2M | — | ||
| Q3 24 | $407.9M | — | ||
| Q2 24 | $344.1M | — | ||
| Q1 24 | $333.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $802.0M | — |
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.9B | $9.1B | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | $11.1B | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $1.8B | — |
| Q4 25 | $4.0B | — | ||
| Q3 25 | $4.1B | $12.5B | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.0B | — | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $3.6B | — | ||
| Q1 24 | $3.5B | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.57× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.46× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $184.6M | $782.0M |
| Free Cash FlowOCF − Capex | $171.3M | $568.0M |
| FCF MarginFCF / Revenue | 18.6% | 44.5% |
| Capex IntensityCapex / Revenue | 1.4% | 16.8% |
| Cash ConversionOCF / Net Profit | 2.04× | 3.71× |
| TTM Free Cash FlowTrailing 4 quarters | $441.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.6M | — | ||
| Q3 25 | $218.0M | $782.0M | ||
| Q2 25 | $968.0K | — | ||
| Q1 25 | $135.2M | — | ||
| Q4 24 | $81.1M | — | ||
| Q3 24 | $33.6M | — | ||
| Q2 24 | $10.4M | — | ||
| Q1 24 | — | — |
| Q4 25 | $171.3M | — | ||
| Q3 25 | $197.1M | $568.0M | ||
| Q2 25 | $-32.1M | — | ||
| Q1 25 | $104.9M | — | ||
| Q4 24 | $56.8M | — | ||
| Q3 24 | $3.3M | — | ||
| Q2 24 | $-25.7M | — | ||
| Q1 24 | — | — |
| Q4 25 | 18.6% | — | ||
| Q3 25 | 20.7% | 44.5% | ||
| Q2 25 | -3.6% | — | ||
| Q1 25 | 10.8% | — | ||
| Q4 24 | 6.3% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | -3.0% | — | ||
| Q1 24 | — | — |
| Q4 25 | 1.4% | — | ||
| Q3 25 | 2.2% | 16.8% | ||
| Q2 25 | 3.7% | — | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 4.2% | — | ||
| Q1 24 | — | — |
| Q4 25 | 2.04× | — | ||
| Q3 25 | 3.19× | 3.71× | ||
| Q2 25 | 0.02× | — | ||
| Q1 25 | 1.40× | — | ||
| Q4 24 | 0.71× | — | ||
| Q3 24 | 0.41× | — | ||
| Q2 24 | 0.15× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENS
| Energy Systems | $399.5M | 43% |
| Motive Power | $352.0M | 38% |
| Services | $92.6M | 10% |
| Transferred Over Time | $38.2M | 4% |
| Other | $36.8M | 4% |
Q
| Semiconductor Technologies | $693.0M | 54% |
| Interconnect Solutions | $583.0M | 46% |
