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Research

Qt: Blood-curdling growth

Qt Group
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Qt Group that develops software development tools published a very strong Q2 report on Friday and currency-adjusted net sales nearly doubled from the comparison period. The company's market is on the threshold of strong growth even though component shortage partly caused by growth restricts growth in the short term. Qt still manages to constantly squeeze out stronger growth than we anticipate from the market driven by developer licenses, and we raised our estimates clearly. Valuation has been stretched very high in the short term (2021e EV/S 30x) but the return expectation we estimate (7%) is, however, sufficient to stay with the high-quality grower.

QT Group operates in the IT sector. The group develops various development tools for the global market. The technology is based on QT technology and is used to develop multi-platform interfaces and associated applications. The services are used in, among other things, industrial robots, entertainment systems, and vehicle systems. Operations are conducted on a global level and customers are found in the automotive and aerospace industries.

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Key Estimate Figures08.08.2021

202021e22e
Revenue79.4123.9177.1
growth-%36.1 %55.9 %43.0 %
EBIT (adj.)17.028.555.5
EBIT-% (adj.)21.4 %23.0 %31.3 %
EPS (adj.)0.530.931.74
Dividend0.000.000.60
Dividend %0.0 %0.0 %2.4 %
P/E (adj.)108.827.314.5
EV/EBITDA70.719.19.9

Forum discussions

Yeah, I meant the forecasted EPS for 2026. Now that the IAR deal was completed at the end of the year, 2026 looks quite different compared to...
yesterday
by MTES
5
During the first 9 months, Qt has only managed to accumulate 0.52 EPS. In Q4 last year, 1.13 EPS was achieved, meaning the TTM is 1.65 EPS. ...
yesterday
by Blackparta
18
The previous Q4 profit warnings have arrived well into January, and now we are already well into February. This has been hammered, and for good...
yesterday
by Pyynikin patruuna
12
Short interest is building up so much that hopefully the results are okay and the outlook has improved, as it could provide quite a boost to...
yesterday
by Maukkaperusjätkä
12
Kauppalehti: Citadel Advisors increases its net short position in Qt Group by 12.05 percent to 236,873 shares, the position is 0.93 percent ...
yesterday
by Prototyping
31
There is nothing new regarding the CFO’s departure. As I understand it, the outgoing CFO is working with the new CFO on IAR’s annual closing...
2/17/2026, 4:33 PM
by Genevazurich
11
That’s not quite right. When you are long and you are wrong, your position shrinks. When you are short and you are wrong, your position grows...
2/17/2026, 4:28 PM
by Genevazurich
3
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