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Q2 HoldingsMEX:QTWO 76 Piotroski F-Score is 9 as of Aug. 01, 2026, which is 80% above its 10-year median of 5.00. GuruFocus rates MEX:QTWO with a GF Score™ of 76/100 and a GF Value™ of MXN1,291.56 (Fairly Valued). The stock has 3 warning signs investors should review. Among 2,734 Software companies, Q2 Holdings ranks better than 91.92% on this metric.
Good Sign:
Piotroski F-Score is 9, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Q2 Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Q2 Holdings's Piotroski F-Score or its related term are showing as below:
MEX:QTWO'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 5 Max: 9
Current: 9
During the past 13 years, the highest Piotroski F-Score of Q2 Holdings was 9. The lowest was 2. And the median was 5.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Q2 Holdings Piotroski F-Score Related Terms
Q2 Holdings Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Q2 Holdings's Piotroski F-Score 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.
MEX:QTWO vs CCC, NATL, MNDY: Piotroski F-Score Comparison
For the Software - Application subindustry, Q2 Holdings's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Software Industry
For the Software industry and Technology sector, Q2 Holdings's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Q2 Holdings's Piotroski F-Score falls into.
* 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.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 276.044 + 368.091 + 480.373 + 520.992 = MXN1,646 Mil. Cash Flow from Operations was 836.367 + 1146.891 + 1015.62 + 1058.352 = MXN4,057 Mil. Revenue was 3700.099 + 3749.183 + 3904.188 + 3834.679 = MXN15,188 Mil. Gross Profit was 1996.674 + 2075.769 + 2306.635 + 2271.86 = MXN8,651 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(26086.218 + 26171.688 + 22980.261 + 22475.002 + 16897.926) / 5 = MXN22922.219 Mil. Total Assets at the begining of this year (Jun25) was MXN26,086 Mil. Long-Term Debt & Capital Lease Obligation was MXN563 Mil. Total Current Assets was MXN4,266 Mil. Total Current Liabilities was MXN4,516 Mil.
Net Income was -232.286 + 3.42 + 97.238 + 221.507 = MXN90 Mil.
Revenue was 3446.216 + 3817.532 + 3881.637 + 3674.481 = MXN14,820 Mil. Gross Profit was 1753.598 + 2009.301 + 2066.074 + 1968.856 = MXN7,798 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(22882.248 + 25062.109 + 27003.856 + 27615.624 + 26086.218) / 5 = MXN25730.011 Mil. Total Assets at the begining of last year (Jun24) was MXN22,882 Mil. Long-Term Debt & Capital Lease Obligation was MXN688 Mil. Total Current Assets was MXN12,422 Mil. Total Current Liabilities was MXN13,788 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Q2 Holdings's current Net Income (TTM) was 1,646.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Q2 Holdings's return on assets of this year was 0.06307929. Q2 Holdings's return on assets of last year was 0.00392789.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Q2 Holdings's gearing of this year was 0.02454348. Q2 Holdings's gearing of last year was 0.02672824.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Q2 Holdings's current ratio of this year was 0.94458537. Q2 Holdings's current ratio of last year was 0.90094649.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Q2 Holdings's number of shares in issue this year was 65.42. Q2 Holdings's number of shares in issue last year was 69.642.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Q2 Holdings's gross margin of this year was 0.56958475. Q2 Holdings's gross margin of last year was 0.52617406.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Q2 Holdings's asset turnover of this year was 0.58222886. Q2 Holdings's asset turnover of last year was 0.64765778.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
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8
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Q2 Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Q2 Holdings (MEX:QTWO) has a Piotroski F-Score of 9 as of Aug. 01, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Q2 Holdings and its competitors. This is 80% above median its historical median of 5.00. Over the past decade, Q2 Holdings' Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, Q2 Holdings ranks #221 out of 2734 companies in the Software industry, placing it in the top 8.1%.
Is Q2 Holdings' Piotroski F-Score too high?
Q2 Holdings' current Piotroski F-Score of 9 is 80% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 9.00. The Software industry median Piotroski F-Score is 5.00. Q2 Holdings' value of 9 is 80% above this industry median. Based on the distribution chart, Q2 Holdings ranks #221 out of 2734 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Q2 Holdings has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Q2 Holdings' Piotroski F-Score compare to CCC and NATL?
According to the Software industry distribution chart, Q2 Holdings ranks #221 out of 2734 companies for Piotroski F-Score. This places Q2 Holdings in the top 8% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Q2 Holdings' value of 9 is 80% above this benchmark. Historically, Q2 Holdings' own Piotroski F-Score has ranged from 2.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Q2 Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Software company?
The median Piotroski F-Score among Software companies is 5.00, based on 2,734 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Q2 Holdings's current Piotroski F-Score of 9 is 80% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Q2 Holdings and its competitors. For the Software industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Q2 Holdings's current Piotroski F-Score is 9, which is 80% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Q2 Holdings stock overvalued right now?
Based on GuruFocus' analysis, Q2 Holdings (MEX:QTWO) is currently considered Fairly Valued. The stock's GF Value™ is MXN1,291.56, compared to a current price of MXN1,070.50 — trading 17.1% below its estimated fair value. The current Piotroski F-Score is 9, which is 80% above median its 10-year median of 5.00 and 80% above the Software industry median of 5.00. Q2 Holdings' overall GF Score™ is 76/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Q2 Holdings (MEX:QTWO), the current Piotroski F-Score is 9 as of Aug. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Q2 Holdings (MEX:QTWO) Overvalued in 2026?
Based on GuruFocus' analysis, Q2 Holdings stock appears to be undervalued.
The current stock price of MXN1,070.50 is trading 17.1% below its estimated GF Value™ of MXN1,291.56.
GuruFocus considers Q2 Holdings to be Fairly Valued.
Key valuation signals for MEX:QTWO:
Piotroski F-Score: 9 (80% above median its 10-year median of 5.00)
GF Value™: MXN1,291.56 vs. price of MXN1,070.50 (17.1% below fair value)
Industry Position: 80% above the Software median (#221 of 2734)
No single metric tells the full story. See the MEX:QTWO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
76GF Score
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