Q2 Holdings (FRA:0Q2) Cyclically Adjusted PS Ratio: (As of Jul. 30, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:0Q2 Q2 Holdings Inc FRA:0Q2
68 GF Score
Price €50.64
GF Value €60.10
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Q2 Holdings Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Q2 Holdings  (FRA:0Q2) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Q2 Holdings Cyclically Adjusted PS Ratio Related Terms


Q2 Holdings Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Q2 Holdings's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Q2 Holdings Cyclically Adjusted PS Ratio Chart

Q2 Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 4.09 5.90 12.08 7.73

Q2 Holdings Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.51 7.91 7.73 4.87 0.00

FRA:0Q2 vs CCC, NATL, MNDY: Cyclically Adjusted PS Ratio Comparison

For the Software - Application subindustry, Q2 Holdings's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Q2 Holdings Cyclically Adjusted PS Ratio vs Software Industry

For the Software industry and Technology sector, Q2 Holdings's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Q2 Holdings's Cyclically Adjusted PS Ratio falls into.


FRA:0Q2
68GF Score
Q2 Holdings Inc FRA:0Q2
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Q2 Holdings Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Q2 Holdings's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Q2 Holdings's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=2.916/333.9520*333.9520
=2.916

Current CPI (Jun. 2026) = 333.9520.

Q2 Holdings Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.856 241.428 1.184
201612 0.993 241.432 1.374
201703 1.025 243.801 1.404
201706 1.032 244.955 1.407
201709 1.016 246.819 1.375
201712 1.046 246.524 1.417
201803 1.054 249.554 1.410
201806 1.177 251.989 1.560
201809 1.207 252.439 1.597
201812 1.361 251.233 1.809
201903 1.441 254.202 1.893
201906 1.528 256.143 1.992
201909 1.515 256.759 1.970
201912 1.620 256.974 2.105
202003 1.721 258.115 2.227
202006 1.691 257.797 2.191
202009 1.645 260.280 2.111
202012 1.639 260.474 2.101
202103 1.754 264.877 2.211
202106 1.820 271.696 2.237
202109 1.905 274.310 2.319
202112 2.053 278.802 2.459
202203 2.135 287.504 2.480
202206 2.319 296.311 2.614
202209 2.549 296.808 2.868
202212 2.402 296.797 2.703
202303 2.469 301.836 2.732
202306 2.447 305.109 2.678
202309 2.482 307.789 2.693
202312 2.531 306.746 2.755
202403 2.561 312.332 2.738
202406 2.670 314.175 2.838
202409 2.615 315.301 2.770
202412 2.889 315.605 3.057
202503 2.708 319.799 2.828
202506 2.429 322.561 2.515
202509 2.460 324.800 2.529
202512 2.725 324.054 2.808
202603 2.768 330.213 2.799
202606 2.916 333.952 2.916

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Q2 Holdings (FRA:0Q2) Overvalued in 2026?

Based on GuruFocus' analysis, Q2 Holdings stock appears to be undervalued. The current stock price of €50.64 is trading 15.7% below its estimated GF Value™ of €60.10. GuruFocus considers Q2 Holdings to be Modestly Undervalued.

Key valuation signals for FRA:0Q2:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €60.10 vs. price of €50.64 (15.7% below fair value)
  • GF Score™: 68/100 with 4 warning signs

No single metric tells the full story. See the FRA:0Q2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Q2 Holdings Business Description

Other Exchanges QTWO:USAQTWO:Mexico
Address 10355 Pecan Park Boulevard, Austin, TX, USA, 78729
Q2 Holdings Inc provides digital solutions to financial institutions, financial technology companies, and alternative finance companies, seeking to incorporate banking into their customer engagement and servicing strategies. The company helps its clients with supervisory, consumer protection, privacy, third-party risk management requirements, and cyber threats and fraud, among other applications, by offering a portfolio of digital solutions, which comprises its digital banking offerings, digital lending and relationship pricing solutions, risk and fraud solutions, as well as Q2 Innovation Studio and Helix. Q2 derives the majority of its revenue from subscription fees for the use of its hosted solutions.
68GF Score

Get the complete analysis for FRA:0Q2

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€50.64
Price
€60.10
GF Value