Qualys, Inc. (QLYS)

Services-Prepackaged Software

Latest Price

$187.20

TTM P/E

32.39

Normalized P/E

43.78

Div Yield

Book Value

15.96

P/B Ratio

11.73

Valuation metrics

EPS: $5.44

Book value / share: $15.71

Formula: √(22.5 × EPS × BVPS)

Graham Number

$43.84

77% downside

Norm. op. income: $131M (median of 7yr)

Tax rate: 17%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$43.16

77% downside

Base FCF: $232M (median of recent 5yr)

Growth: 15%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$247.13

+32% upside

EPS: $5.44

Target P/E: 44×

Formula: EPS × P/E

P/E Fair Value

$239.36

+28% upside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	5.76M	$792.0M	16.63%	+402.1K	2026-06-30
Vanguard Portfolio Management LLC	2.70M	$370.0M	7.78%	+158.8K	2026-06-30
Vanguard Capital Management LLC	1.59M	$218.0M	4.59%	+5.7K	2026-06-30
State Street Corp	1.46M	$200.0M	4.20%	+67.4K	2026-06-30
Legal & General Group Plc	1.44M	$197.0M	4.15%	+407.8K	2026-06-30
Geode Capital Management, LLC	1.41M	$193.0M	4.07%	+88.7K	2026-06-30
AQR Capital Management LLC	1.39M	$190.0M	4.03%	+355.8K	2026-06-30
First Trust Advisors LP	1.13M	$155.0M	3.26%	+134.6K	2026-06-30
Arrowstreet Capital, Limited Partnership	985.3K	$135.0M	2.84%	+152.5K	2026-06-30
Penserra Capital Management LLC	780.1K	$107.0M	2.25%	+47.6K	2026-06-30