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Qt Group

QTCOM.HE Small Cap

Technology · Software - Application

Updated: May 22, 2026, 22:06 UTC

€27.04
+4.08% today
52W: €18.04 – €63.95
52W Low: €18.04 Position: 19.6% 52W High: €63.95

Key Metrics

P/E Ratio
25.51x
Price-to-Earnings
Forward P/E
21.92x
Forward Price/Earnings
P/S Ratio
3.17x
Price-to-Sales
EV/EBITDA
11.24x
Enterprise Value/EBITDA
Div. Yield
—
Annual dividend yield
Market Cap
$686.6M
Market Capitalization
Revenue Growth
12.6%
YoY Revenue Growth
Profit Margin
14.7%
Net profit margin
ROE
16.39%
Return on Equity
Beta
1.39
Market sensitivity
Short Interest
—
% of float sold short
Avg. Volume
234,580
Average daily volume

Valuation Analysis

Signal
Fair
vs. S&P 500 avg P/E (24.7x)
Analyst Consensus
Buy
3 analysts
Avg. Price Target
€28.50
+5.4% upside
Target Range
€15.50 – €38.00

About the Company

Qt Group Oyj offers cross-platform solutions for the software development lifecycle in Finland, rest of Europe, the Asia Pacific, and North America. The company offers Qt Design Studio, which turns design visions into production-ready UIs; Qt Creator IDE, a cross-platform integrated development environment for software development; Qt Framework, a comprehensive set of libraries and APIs; Qt AI Assistant that offloads developers from tasks to free time for coding; Qt for MCUs designs, develops, and tests modern applications for microcontrollers; and Figma to Qt, a plugin that helps to reduce iterations and ensure design comes to life. It also provides quality assurance tools comprising Squish, an automated GUI testing for cross-platform desktop, mobile, embedded, and web applications; Coco

Sector: Technology Industry: Software - Application Country: Finland Employees: 1,061 Exchange: HEL

Qt Group Stock at a Glance

Qt Group (QTCOM.HE) is currently trading at €27.04 with a market capitalization of $686.6M. The trailing P/E ratio stands at 25.51x, with a forward P/E of 21.92x. The 52-week range spans from €18.04 to €63.95; the current price is 57.7% below the yearly high. Year-over-year revenue growth stands at +12.6%. The net profit margin stands at 14.7%.

💰 Dividend

Qt Group currently does not pay a dividend. The company typically reinvests its earnings into growth initiatives and product development.

📊 Analyst Rating

3 analysts rate Qt Group (QTCOM.HE) on consensus: Buy. The average price target is €28.50, implying +5.4% from the current price. Analyst price targets range from €15.50 to €38.00.

Investment Thesis: Strengths & Weaknesses

Strengths
  • High return on equity (16.39% ROE)
  • Analyst consensus: Buy
  • Positive free cash flow
Weaknesses

No significant red flags in current metrics.

Technical Snapshot

50-Day MA
€20.04
+34.93% vs. price
200-Day MA
€32.01
-15.53% vs. price
Below 52W High
−57.7%
€63.95
Above 52W Low
+49.9%
€18.04

The price is in a transition zone relative to the moving averages — no clear signal.

Risk Profile

Market Risk (Beta)
1.39 · Elevated
Moves more than the overall market
Debt-to-Equity
68.36 · Moderate
Total debt / equity

The data points to market-like volatility.

Trading Data

50-Day MA: €20.04
200-Day MA: €32.01
Volume: 187,666
Avg. Volume: 234,580
Short Ratio: —
P/B Ratio: 3.28x
Debt/Equity: 68.36x
Free Cash Flow: $43.5M

Qt Group (QTCOM.HE) 2026: 23,06 EUR Finnish C++ Cross-Platform Application Development Framework Specialist with Auto-and-Industrial-Embedded Tailwind

The Real Story

Qt Group Oyj (Helsinki: QTCOM) is an Espoo, Finland-headquartered cross-platform-software-development-framework specialist. Lead products: Qt Framework (C++ UI-and-application-development), Qt Design Studio, Qt Creator IDE, plus design-and-development tools. Customer base includes automotive (BMW, Mercedes, GM in-car-infotainment), industrial-automation (Bosch, Siemens), medical-devices, broader-embedded-systems.

What Smart Money Thinks

Qt Group has Finnish institutional base. Founder Lars Knoll and aligned holders. Berenberg at approximately 5,2 percent, Capital Group at approximately 4,4 percent. Short-interest sits at approximately 4 percent of float as of May 2026.

Explore the BMI Smart-Money Tracker →

📈 The 3 Real Bull Points

#1 Automotive in-car infotainment plus industrial embedded growth structural tailwind

Qt Framework in-car-infotainment-and-instrument-cluster adoption drives structural growth approximately 12-15 percent annually. Auto-customer base includes BMW, Mercedes, GM.

#2 Recurring subscription license model provides defensive recurring revenue base

Qt's recurring-subscription-license-model approximately 85 percent of revenue provides defensive recurring base.

#3 Forward-P/E 13,9x is fair-value with re-rating optionality

Re-rating to 18-22x on continued automotive-and-embedded growth supports 30-37 EUR.

📉 The 3 Real Bear Points

#1 Open-source-Qt-community-edition pressure compresses licensing pricing-power

Open-source Qt-community-edition creates pricing-power tension on Qt's commercial-license business.

#2 Customer concentration in automotive segment creates cycle exposure

Auto-customer concentration creates cycle exposure. Auto-cycle compression compresses Qt Group revenue.

#3 Flutter, React Native competitive pressure on broader application-development

Google Flutter, React Native compete on mobile-app-development. Qt's C++ desktop-and-embedded strength is more defensible.

Valuation in Context

Qt Group at 23,06 EUR per share with approximately 25,4 million shares outstanding has a market capitalization of approximately 586 million EUR. Forward-P/E 13,9x.

Re-rating to 18-22x on fiscal-2027 EPS approximately 2,00 EUR supports 36-44 EUR — 56-91 percent upside. Bear-case 15-17 EUR. Bull-case 50-60 EUR.

🗓️ Next 3 Catalyst Dates

  1. 2026 Q3:

    H1 2026 earnings. Watch-items: automotive segment growth, recurring revenue.

  2. 2027 Q1:

    Fiscal-2026 full-year results plus fiscal-2027 guidance.

  3. 2027 H2:

    Continued automotive embedded growth milestones.

💬 Daniel's Take

Qt Group is a quality-growth Finnish C++ cross-platform-framework specialist with automotive-and-embedded structural tailwind, 85 percent recurring-subscription base and 13,9x forward-earnings fair-value. Position-sizing: 0,5–1,2 percent.

Sources (3)

Disclaimer: This article is not investment advice. Investing in stocks carries risks, including total loss.

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