Qube Holdings（QUB）株式概要キューブ・ホールディングスは子会社とともに、オーストラリア、ニュージーランド、東南アジアで輸出入サプライチェーンの物流ソリューションを提供している。 詳細QUB ファンダメンタル分析スノーフレーク・スコア評価1/6将来の成長1/6過去の実績1/6財務の健全性2/6配当金2/6報酬当社が推定した公正価値より6%で取引されている 収益は年間11.34%増加すると予測されています リスク分析利払いは収益で十分にカバーされない 財務結果に影響を与える大きな一時的項目 すべてのリスクチェックを見るQUB Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW482,187 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINRODA482,187 investors already sharing narrativesYour Fair ValueAU$Current PriceAU$5.127.5% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-19m6b2016201920222025202620282031Revenue AU$5.8bEarnings AU$289.9mAdvancedSet Fair ValueView all narrativesQube Holdings Limited 競合他社Dalrymple Bay InfrastructureSymbol: ASX:DBIMarket cap: AU$2.7bAtlas ArteriaSymbol: ASX:ALXMarket cap: AU$7.1bBhagwan MarineSymbol: ASX:BWNMarket cap: AU$115.2mAurizon HoldingsSymbol: ASX:AZJMarket cap: AU$6.1b価格と性能株価の高値、安値、推移の概要Qube Holdings過去の株価現在の株価AU$5.1252週高値AU$5.1352週安値AU$3.99ベータ0.641ヶ月の変化0%3ヶ月変化1.69%1年変化14.94%3年間の変化89.44%5年間の変化68.81%IPOからの変化134.10%最新ニュースお知らせ • Jul 09Qube Holdings Limited(ASX:QUB) dropped from FTSE All-World Index (USD)Qube Holdings Limited(ASX:QUB) dropped from FTSE All-World Index (USD)Upcoming Dividend • Jul 06Upcoming dividend of AU$0.35 per shareEligible shareholders must have bought the stock before 13 July 2026. Payment date: 23 July 2026. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 1.9%. Lower than top quartile of Australian dividend payers (6.7%). Lower than average of industry peers (4.7%).お知らせ • Jun 16Qube Holdings Limited Declares Fully Franked Special Dividend, Payable on 23 July 2026Qube Holdings Limited subject to and following the Scheme becoming effective, the Qube Board intends to declare and pay a fully franked Special Dividend of $0.3465 cash per fully paid ordinary share. Declaration of a Special Dividend remains in the Qube Board's absolute discretion. Qube Special Dividend record date Tuesday, 14 July 2026, Qube Special Dividend payment date Thursday, 23 July 2026.お知らせ • Nov 24Macquarie Asset Management Pty Limited proposed to acquire Qube Holdings Limited (ASX:QUB) for AUD 9.2 billion.Macquarie Asset Management Pty Limited entered into a process deed to acquire Qube Holdings Limited (ASX:QUB) for AUD 9.2 billion on November 23, 2025. A cash consideration valued at AUD 5.2 per share will be paid by Macquarie Asset Management. The transaction is subject to Satisfactory completion of due diligence on Qube and its operations by MAM, entry into a Scheme Implementation Agreement on customary terms and conditions, a unanimous Qube Board recommendation, final approvals from the Qube Board and MAM and approvals from Foreign Investment Review Board and Australian Competition & Consumer Commission. UBS acted as financial advisor for Qube Holdings Limited. Allens acted as legal advisor for Qube Holdings Limited.お知らせ • Nov 08+ 1 more updateQube Holdings Limited to Report Fiscal Year 2026 Final Results on Aug 20, 2026Qube Holdings Limited announced that they will report fiscal year 2026 final results on Aug 20, 2026お知らせ • Sep 22Qube Holdings Limited, Annual General Meeting, Nov 20, 2025Qube Holdings Limited, Annual General Meeting, Nov 20, 2025.最新情報をもっと見るRecent updatesお知らせ • Jul 09Qube Holdings Limited(ASX:QUB) dropped from FTSE All-World Index (USD)Qube Holdings Limited(ASX:QUB) dropped from FTSE All-World Index (USD)Upcoming Dividend • Jul 06Upcoming dividend of AU$0.35 per shareEligible shareholders must have bought the stock before 13 July 2026. Payment date: 23 July 2026. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 1.9%. Lower than top quartile of Australian dividend payers (6.7%). Lower than average of industry peers (4.7%).お知らせ • Jun 16Qube Holdings Limited Declares Fully Franked Special Dividend, Payable on 23 July 2026Qube Holdings Limited subject to and following the Scheme becoming effective, the Qube Board intends to declare and pay a fully franked Special Dividend of $0.3465 cash per fully paid ordinary share. Declaration of a Special Dividend remains in the Qube Board's absolute discretion. Qube Special Dividend record date Tuesday, 14 July 2026, Qube Special Dividend payment date Thursday, 23 July 2026.お知らせ • Nov 24Macquarie Asset Management Pty Limited proposed to acquire Qube Holdings Limited (ASX:QUB) for AUD 9.2 billion.Macquarie Asset Management Pty Limited entered into a process deed to acquire Qube Holdings Limited (ASX:QUB) for AUD 9.2 billion on November 23, 2025. A cash consideration valued at AUD 5.2 per share will be paid by Macquarie Asset Management. The transaction is subject to Satisfactory completion of due diligence on Qube and its operations by MAM, entry into a Scheme Implementation Agreement on customary terms and conditions, a unanimous Qube Board recommendation, final approvals from the Qube Board and MAM and approvals from Foreign Investment Review Board and Australian Competition & Consumer Commission. UBS acted as financial advisor for Qube Holdings Limited. Allens acted as legal advisor for Qube Holdings Limited.お知らせ • Nov 08+ 1 more updateQube Holdings Limited to Report Fiscal Year 2026 Final Results on Aug 20, 2026Qube Holdings Limited announced that they will report fiscal year 2026 final results on Aug 20, 2026お知らせ • Sep 22Qube Holdings Limited, Annual General Meeting, Nov 20, 2025Qube Holdings Limited, Annual General Meeting, Nov 20, 2025.Declared Dividend • Aug 23Final dividend increased to AU$0.057Dividend of AU$0.057 is 11% higher than last year. Ex-date: 15th September 2025 Payment date: 14th October 2025 Dividend yield will be 2.3%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (153% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 70% to bring the payout ratio under control. EPS is expected to grow by 76% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.Reported Earnings • Aug 22Full year 2025 earnings released: EPS: AU$0.064 (vs AU$0.13 in FY 2024)Full year 2025 results: EPS: AU$0.064 (down from AU$0.13 in FY 2024). Revenue: AU$4.17b (up 25% from FY 2024). Net income: AU$113.2m (down 50% from FY 2024). Profit margin: 2.7% (down from 6.8% in FY 2024). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Infrastructure industry in Australia. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 13% per year.お知らせ • Aug 21Qube Holdings Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended June 30, 2025, Payable on October 14, 2025Qube Holdings Limited announced Ordinary fully franked dividend of AUD 0.05700000 per share for the six months ended June 30, 2025. Record Date is September 16, 2025. Ex Date is September 15, 2025. Payment Date is October 14, 2025.Board Change • Aug 18High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Mick McCormack was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.お知らせ • Apr 11Qube Holdings Limited Announces Resignation of Jackie Mcarthur as A Non-Executive Director, Effective 22 May 2025Qube Holdings Limited announced the resignation of Jackie McArthur as a non-executive director, effective 22 May 2025.お知らせ • Feb 20Qube Holdings Limited Announces Board and Committee ChangesQube Holdings Limited announced the appointment of Mick McCormack to the board of directors, effective 1 May 2025. Mr. McCormack brings over 40 years' experience in the energy and infrastructure sectors to the board, including 14 years' experience as the Managing Director and CEO of leading Australian energy infrastructure business, APA Group. Prior to joining APA in 2000, Mr. McCormack held various senior management role with AGL Energy. Mr. McCormack is also a non-executive director of both Origin Energy Limited and Whitehaven Coal Limited and recently announced he will step down as a non-executive director and Chairman of Central Petroleum Limited on 30 April 2025. He also serves on the board of the Clontarf Foundation, the Australian Brandenburg Orchestra Foundation and the Origin Energy Foundation. Mr. McCormack holds a Master of Business Administration from the University of Queensland, a Graduate Diploma of Engineering from Monash University, and a Bachelor of Applied Science from the University of Queensland. In addition to Mr. McCormack's appointment, Mr. Davies announced the following changes to the membership of Qube Board subcommittees, effective 20 February 2025: James Fazzino will replace Steve Mann as Chair of the Audit and Risk Management Committee. Mr. Mann will remain a member of the ARMC. John Bevan will replace Jill Hoffmann as a member of the Nomination and Remuneration Committee.お知らせ • Dec 27Qube Holdings Limited Announces the Appointment of John Bevan to the Board of Directors, Effective 1 January 2025Qube Holdings Limited announced the appointment of John Bevan to the board of directors, effective 1 January 2025. Bevan brings extensive executive and non-executive experience to the board, including as the former Chief Executive Officer and Executive Director of Alumina Limited and from a variety of executive and senior management positions over a more than 25 year career with the BOC Group Plc, in Australia, Asia, and the United Kingdom. Bevan has also previously served as a non-executive director of Alumina Limited, BlueScope Steel Limited, Nuplex Industries, and Ansell and currently serves as a non-executive director of Alcoa Corporation and Balmoral Iron. Mr. Bevan was Chair at both Blue Scope Steel from 2015 to 2023 and Ansell from 2018 to 2023. Bevan holds a Bachelor of Commerce and Marketing from the University of New South Wales.お知らせ • Oct 17Sam Kaplan Not to Stand for Re-Election as Deputy Chairman of Qube Holdings LimitedQube Holdings Limited announced that Deputy Chairman, Sam Kaplan, will retire from the Qube Board at the conclusion of the 2024 Annual General Meeting, having decided not to seek re-election. When Qube Holdings was formed in 2011, Sam then joined the Qube Board as Deputy Chairman and has played a significant role in guiding the strategic direction of the business throughout his tenure, including at various times as Chair of the Nomination and Remuneration Committee and Chair of the Audit and Risk Management Committee. While Sam is stepping down, it is intended that he will continue to provide strategic advice to Qube, including representing Qube on the Board of Patrick Terminals. The Board succession remained an ongoing focus and a new Board appointment will be announced in due course, noting that the Board does not intend to retain the position of Deputy Chair going forward.Upcoming Dividend • Sep 09Upcoming dividend of AU$0.051 per shareEligible shareholders must have bought the stock before 16 September 2024. Payment date: 15 October 2024. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Australian dividend payers (6.1%). Lower than average of industry peers (4.2%).Declared Dividend • Aug 24Final dividend increased to AU$0.051Dividend of AU$0.051 is 18% higher than last year. Ex-date: 16th September 2024 Payment date: 15th October 2024 Dividend yield will be 2.4%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (71% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Aug 24Qube Holdings Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended June 30, 2024, Payable on October 15, 2024Qube Holdings Limited announced Ordinary fully franked dividend of AUD 0.05150000 per share for the six months ended June 30, 2024. Record Date is September 17, 2024. Ex Date is September 16, 2024. Payment Date is October 15, 2024.Reported Earnings • Aug 22Full year 2024 earnings released: EPS: AU$0.13 (vs AU$0.10 in FY 2023)Full year 2024 results: EPS: AU$0.13 (up from AU$0.10 in FY 2023). Revenue: AU$3.36b (up 17% from FY 2023). Net income: AU$227.0m (up 29% from FY 2023). Profit margin: 6.8% (up from 6.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Infrastructure industry in Oceania. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Feb 27Upcoming dividend of AU$0.04 per shareEligible shareholders must have bought the stock before 05 March 2024. Payment date: 11 April 2024. Payout ratio is on the higher end at 80% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Australian dividend payers (6.4%). Lower than average of industry peers (4.3%).Declared Dividend • Feb 24First half dividend of AU$0.04 announcedShareholders will receive a dividend of AU$0.04. Ex-date: 5th March 2024 Payment date: 11th April 2024 Dividend yield will be 2.6%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 23First half 2024 earnings released: EPS: AU$0.065 (vs AU$0.06 in 1H 2023)First half 2024 results: EPS: AU$0.065 (up from AU$0.06 in 1H 2023). Revenue: AU$1.56b (up 8.5% from 1H 2023). Net income: AU$114.0m (up 7.5% from 1H 2023). Profit margin: 7.3% (down from 7.4% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Infrastructure industry in Oceania. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 05Qube Holdings Limited Announces Retirement of Ross Burney as DirectorQube Holdings Limited announced the retirement of long-standing non-executive Director, Mr. Ross Burney, effective 22 February 2024. Burney has been a director of Qube since its incorporation in 2011, having also served as a member of the investment advisory committee that undertook the preparatory work leading to Qube's successful corporatization.お知らせ • Jan 15Qube Holdings Limited Announces James Fazzino Will Join the Board of Directors from 22 February 2024Qube announced that Mr. James Fazzino will join the board of directors of Qube Holdings Limited from 22 February 2024. Mr. Fazzino has had an extensive executive career in agribusiness, mining, manufacturing and chemical industries working in senior roles across a diverse range of organisations. In particular, Mr. Fazzino was Chief Financial Officer, Chief Executive Officer and Managing Director at industrial chemicals manufacturer Incitec Pivot Limited where he led the successful globalisation of the business including the construction of two large chemical plants in Australia and the United States. Mr. Fazzino is a non-executive director of energy infrastructure business APA Group and Chair of its Sustainability Committee. He is also a non-executive director and Chair (elect) of Rabobank Australia Limited, Chair of Manufacturing Australia and a former Chair of Tassal Limited. Mr. Fazzino graduated from La Trobe University with a Bachelor of Economics (Hons). He is a Vice-Chancellor's Fellow of La Trobe University, a fellow of CPA Australia and was a past co-convenor of the Energy Group of the Champions of Change Coalition.お知らせ • Dec 15Qube Holdings Limited Appoints Ms Jill Hoffmann as Director to the Board Effective 15 December 2023Qube Holdings Limited announces the appointment of Ms Jill Hoffmann to the board of directors of Qube Holdings Limited, effective 15 December 2023. Ms Hoffmann has more than 30 years' experience in the energy sector and across a broad range of roles including shipping, operations, supply chain, renewables, crisis management, corporate social responsibility, environment and heritage, marketing and trading. She is currently non-executive director at Strike Energy and a former Chair of Fremantle Ports, where she was also Chair of the Audit and Risk committee. Ms Hoffmann holds a Master of Business Administration from Henley Management College, England and a Bachelor of Business, Massey University, New Zealand. She is also a Fellow of the Australian Institute of Company Directors.お知らせ • Dec 01+ 2 more updatesQube Holdings Limited to Report First Half, 2024 Results on Feb 22, 2024Qube Holdings Limited announced that they will report first half, 2024 results on Feb 22, 2024お知らせ • Oct 10Qube Holdings Limited Announces Retirement of Nicole Hollows as Independent Non-Executive Director, Effective 10 November 2023Qube Holdings Limited announced that Ms Nicole Hollows will retire as an independent non-executive director of Qube Holdings, effective 10 November 2023.Upcoming Dividend • Sep 11Upcoming dividend of AU$0.043 per share at 2.9% yieldEligible shareholders must have bought the stock before 18 September 2023. Payment date: 17 October 2023. Payout ratio is on the higher end at 81% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Australian dividend payers (7.0%). Lower than average of industry peers (4.2%).Reported Earnings • Aug 25Full year 2023 earnings released: EPS: AU$0.10 (vs AU$0.071 in FY 2022)Full year 2023 results: EPS: AU$0.10 (up from AU$0.071 in FY 2022). Revenue: AU$2.86b (up 15% from FY 2022). Net income: AU$175.9m (up 30% from FY 2022). Profit margin: 6.1% (up from 5.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Infrastructure industry in Oceania. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.New Risk • Aug 25New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.お知らせ • Aug 24Qube Holdings Limited Announces Final Fully Franked Dividend for the Year Ended 30 June 2023, Payable on 17 October 2023Qube Holdings Limited announced final fully franked dividend for the year ended 30 June 2023 of 4.35 cents per share, Payable on 17 October 2023 (2022: 3.3 cents per fully paid share paid on 18 October 2022). Record Date: 19 September 2023.Upcoming Dividend • Feb 28Upcoming dividend of AU$0.037 per share at 2.0% yieldEligible shareholders must have bought the stock before 07 March 2023. Payment date: 13 April 2023. Payout ratio is on the higher end at 76% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Australian dividend payers (7.1%). Lower than average of industry peers (3.2%).Reported Earnings • Feb 24First half 2023 earnings released: EPS: AU$0.06 (vs AU$0.038 in 1H 2022)First half 2023 results: EPS: AU$0.06 (up from AU$0.038 in 1H 2022). Revenue: AU$1.44b (up 23% from 1H 2022). Net income: AU$106.0m (up 45% from 1H 2022). Profit margin: 7.4% (up from 6.3% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Infrastructure industry in Oceania. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.お知らせ • Nov 28+ 2 more updatesQube Holdings Limited to Report First Half, 2023 Results on Feb 23, 2023Qube Holdings Limited announced that they will report first half, 2023 results on Feb 23, 2023Upcoming Dividend • Sep 12Upcoming dividend of AU$0.04 per shareEligible shareholders must have bought the stock before 19 September 2022. Payment date: 18 October 2022. Payout ratio is on the higher end at 89% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Australian dividend payers (6.5%). Lower than average of industry peers (3.2%).Reported Earnings • Aug 26Full year 2022 earnings released: EPS: AU$0.071 (vs AU$0.023 loss in FY 2021)Full year 2022 results: EPS: AU$0.071 (up from AU$0.023 loss in FY 2021). Revenue: AU$2.49b (up 27% from FY 2021). Net income: AU$134.9m (up AU$178.9m from FY 2021). Profit margin: 5.4% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 13%, compared to a 22% growth forecast for the Infrastructure industry in Australia. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Mar 01Upcoming dividend of AU$0.03 per shareEligible shareholders must have bought the stock before 08 March 2022. Payment date: 08 April 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Australian dividend payers (5.7%). Lower than average of industry peers (3.1%).Reported Earnings • Feb 26First half 2022 earnings: EPS in line with analyst expectations despite revenue beatFirst half 2022 results: EPS: AU$0.038 (up from AU$0.026 in 1H 2021). Revenue: AU$1.17b (up 28% from 1H 2021). Net income: AU$73.3m (up 52% from 1H 2021). Profit margin: 6.3% (up from 5.3% in 1H 2021). Revenue exceeded analyst estimates by 16%. Over the next year, revenue is forecast to grow 11%, compared to a 25% growth forecast for the industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.Recent Insider Transactions • Oct 14Independent Director recently bought AU$81k worth of stockOn the 12th of October, Jacqueline McArthur bought around 25k shares on-market at roughly AU$3.25 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$112k more in shares than they have sold in the last 12 months.Upcoming Dividend • Sep 14Upcoming dividend of AU$0.035 per shareEligible shareholders must have bought the stock before 21 September 2021. Payment date: 22 October 2021. Trailing yield: 1.8%. Lower than top quartile of Australian dividend payers (5.3%). Lower than average of industry peers (2.5%).Reported Earnings • Aug 27Full year 2021 earnings released: AU$0.023 loss per share (vs AU$0.052 profit in FY 2020)The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2021 results: Revenue: AU$1.96b (up 7.0% from FY 2020). Net loss: AU$44.0m (down 150% from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.08 years.Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.08 years.Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Executive Departure • Jul 03Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Executive Departure • Jul 03Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Executive Departure • Jul 03Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.Upcoming Dividend • Mar 02Upcoming Dividend of AU$0.025 Per ShareWill be paid on the 8th of April to those who are registered shareholders by the 9th of March. The trailing yield of 1.6% is below the top quartile of Australian dividend payers (5.3%), and is lower than industry peers (2.2%).Reported Earnings • Feb 27First half 2021 earnings released: EPS AU$0.031 (vs AU$0.032 in 1H 2020)The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: AU$920.8m (down 2.4% from 1H 2020). Net income: AU$57.8m (up 12% from 1H 2020). Profit margin: 6.3% (up from 5.5% in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.Analyst Estimate Surprise Post Earnings • Feb 26Revenue misses expectationsRevenue missed analyst estimates by 4.0%. Over the next year, revenue is forecast to grow 11%, compared to a 5.2% growth forecast for the Infrastructure industry in Australia.お知らせ • Feb 26Qube Holdings Limited Announces Management ChangesQube Chairman Allan Davies announced that Maurice James would step down as Managing Director on June 30, 2021 and retire formally from Qube at the end of December 2021. After considering a range of external and internal candidates the Board has unanimously chosen Chief Operating Officer (COO) Paul Digney to step up to Managing Director of Qube from July 1, 2021. Since his appointment to the role of COO in 2016, Paul has been accountable for all operations across the Logistics, Ports and Bulk Division which deliver the majority of Qube's revenues. After Maurice steps down as a Director of Qube and Managing Director, Maurice will be available to provide guidance and mentoring as Paul takes up the challenges ahead.Is New 90 Day High Low • Feb 06New 90-day high: AU$3.07The company is up 7.0% from its price of AU$2.87 on 06 November 2020. The Australian market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Infrastructure industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$1.23 per share.お知らせ • Feb 03Qube Holdings Limited to Report First Half, 2021 Results on Feb 25, 2021Qube Holdings Limited announced that they will report first half, 2021 results on Feb 25, 2021お知らせ • Dec 15Qube Holdings Limited, Annual General Meeting, Nov 11, 2021Qube Holdings Limited, Annual General Meeting, Nov 11, 2021.Is New 90 Day High Low • Nov 10New 90-day high: AU$2.93The company is up 3.0% from its price of AU$2.85 on 12 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Infrastructure industry, which is also up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.34 per share.お知らせ • Oct 16Qube Holdings Limited Announces the Appointment of Nicole Hollows to the Board of DirectorsQube Holdings Limited announced the appointment of Ms. Nicole Hollows to the board of directors of the company, effective from 19 October 2020. Ms. Hollows has over 20 years' experience in the resources sector in a number of senior managerial roles across both the public and private sectors, including in mining, utilities and rail. Ms. Hollows is currently an independent non-executive Chairman of Jameson Resources Limited and also an independent non-executive director of Downer EDI Limited.お知らせ • Oct 06Qube Reportedly About to Cash Up and Go After Piece of TollQube Holdings Limited (ASX:QUB)’s attention is turning to its next potential takeover target, Toll Holdings Limited. It is expected that a next step for Qube will be competing for parts of the Japanese-owned logistics business Toll, which is up for sale through JPMorgan and Nomura. It is understood that information memorandums are expected to hit the desks of buyers in one to two months and one of the challenges facing Toll is that some of the properties that it sold and leased back to raise capital remain vacant, despite the company having to pay rent. Qube has made no secret of the fact that some parts of Toll would be of interest, particularly its divisions servicing the resources industry, including its bulk freight operations, oil and gas logistics arm, and potentially its government services operation. However, should Toll's owner, Japan Post Holdings Co., Ltd. (TSE:6178), opt for a break-up, another party that some think may be in the mix for assets is Australia Post.Is New 90 Day High Low • Sep 18New 90-day low: AU$2.56The company is down 9.0% from its price of AU$2.80 on 19 June 2020. The Australian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.44 per share.お知らせ • Sep 13Qube Holdings Limited Provides Earnings Guidance for the Fiscal Year 2020Qube Holdings Limited provided earnings guidance for the fiscal year 2020. There was a little bit of impact linked with the motor vehicles and break bulk cargoes that happen through AAT as well. So all in all, it not be as the company called out for COVID, it would have expected to deliver increased earnings in 2020 compared to 2019. But obviously, COVID had an impact. It touched on COVID at $130 million of revenue and an NPAT level of $21 million impact is really where it saw that impact. The estimated impact on 2020 results - underlying results from COVID. Obviously, lower revenue goes straight to an EBIT impact of $30 million or thereabouts. The 2020 result there was consistent with that guidance around lower fill income in 2020 compared to 2019.お知らせ • Sep 11Qube Holdings Limited (ASX:QUB) acquired an additional 5.54% stake in The Quattro Grain Trust.Qube Holdings Limited (ASX:QUB) acquired an additional 5.54% stake in The Quattro Grain Trust on February 26, 2020. Upon completion, Qube Holdings Limited owns 52.77% stake in The Quattro Grain Trust. In a subsequent transaction in March 2020, Qube Holdings Limited acquired the remaining 47.23% stake in The Quattro Grain Trust. The total consideration for 100% stake is AUD 37 million. Qube Holdings Limited (ASX:QUB) completed the acquisition of an additional 5.54% stake in The Quattro Grain Trust on February 26, 2020.お知らせ • Aug 27Qube Holdings Limited (ASX:QUB) acquired NFA Holdings Limited for AUD 26.1 million.Qube Holdings Limited (ASX:QUB) acquired NFA Holdings Limited for AUD 26.1 million on January 31, 2020. Qube Holdings Limited (ASX:QUB) completed the acquisition of NFA Holdings Limited on January 31, 2020.株主還元QUBAU InfrastructureAU 市場7D0%-3.3%-1.7%1Y14.9%0.8%0.9%株主還元を見る業界別リターン: QUB過去 1 年間で0.8 % の収益を上げたAustralian Infrastructure業界を上回りました。リターン対市場: QUB過去 1 年間で0.9 % の収益を上げたAustralian市場を上回りました。価格変動Is QUB's price volatile compared to industry and market?QUB volatilityQUB Average Weekly Movement0.8%Infrastructure Industry Average Movement2.8%Market Average Movement9.7%10% most volatile stocks in AU Market17.1%10% least volatile stocks in AU Market3.8%安定した株価: QUB 、 Australian市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: QUBの 週次ボラティリティ ( 1% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト201110,000Paul Digneyqube.com.auキューブ・ホールディングスは、その子会社とともに、オーストラリア、ニュージーランド、東南アジアで輸出入サプライチェーンの物流ソリューションを提供している。同社の事業部門は、主にコンテナ貨物の輸出入に関するサービスを提供し、道路・鉄道輸送、倉庫・配送、コンテナパーク、関連サービスを含む様々な物流サービスを提供するほか、鉄道ターミナルや国際貨物輸送を含む複合一貫物流ハブの運営、自動車、一般貨物、ブレークバルク施設を提供する自動車ターミナルの所有・運営、マルチユーザー穀物貯蔵・取扱施設の運営、輸出入鉄道ターミナルの開発・運営を行っている。同部門はまた、バルクおよび一般荷役施設、および道路・鉄道輸送、備蓄管理、バルク船積荷サービスを含むバルク荷役サービスも提供している。パトリック・ターミナル部門はオーストラリアでコンテナ荷役サービスを提供している。前身はQube Logistics Holdings Limitedで、2012年11月にQube Holdings Limitedに社名変更。同社は2011年に法人化され、オーストラリアのシドニーを拠点としている。もっと見るQube Holdings Limited 基礎のまとめQube Holdings の収益と売上を時価総額と比較するとどうか。QUB 基礎統計学時価総額AU$9.11b収益（TTM）AU$218.30m売上高(TTM)AU$4.37b41.7xPER（株価収益率2.1xP/SレシオQUB は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計QUB 損益計算書（TTM）収益AU$4.37b売上原価AU$3.50b売上総利益AU$865.80mその他の費用AU$647.50m収益AU$218.30m直近の収益報告Dec 31, 2025次回決算日Aug 20, 2026一株当たり利益（EPS）0.12グロス・マージン19.82%純利益率5.00%有利子負債／自己資本比率54.1%QUB の長期的なパフォーマンスは？過去の実績と比較を見る配当金1.9%現在の配当利回り90%配当性向View Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/08/18 06:31終値2026/07/08 00:00収益2025/12/31年間収益2025/06/30データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Qube Holdings Limited 4 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。20 アナリスト機関Matthew RyanBarrenjoey Markets Pty LimitedSam ByrnesBell PotterMark WilliamsCGS International17 その他のアナリストを表示
お知らせ • Jul 09Qube Holdings Limited(ASX:QUB) dropped from FTSE All-World Index (USD)Qube Holdings Limited(ASX:QUB) dropped from FTSE All-World Index (USD)
Upcoming Dividend • Jul 06Upcoming dividend of AU$0.35 per shareEligible shareholders must have bought the stock before 13 July 2026. Payment date: 23 July 2026. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 1.9%. Lower than top quartile of Australian dividend payers (6.7%). Lower than average of industry peers (4.7%).
お知らせ • Jun 16Qube Holdings Limited Declares Fully Franked Special Dividend, Payable on 23 July 2026Qube Holdings Limited subject to and following the Scheme becoming effective, the Qube Board intends to declare and pay a fully franked Special Dividend of $0.3465 cash per fully paid ordinary share. Declaration of a Special Dividend remains in the Qube Board's absolute discretion. Qube Special Dividend record date Tuesday, 14 July 2026, Qube Special Dividend payment date Thursday, 23 July 2026.
お知らせ • Nov 24Macquarie Asset Management Pty Limited proposed to acquire Qube Holdings Limited (ASX:QUB) for AUD 9.2 billion.Macquarie Asset Management Pty Limited entered into a process deed to acquire Qube Holdings Limited (ASX:QUB) for AUD 9.2 billion on November 23, 2025. A cash consideration valued at AUD 5.2 per share will be paid by Macquarie Asset Management. The transaction is subject to Satisfactory completion of due diligence on Qube and its operations by MAM, entry into a Scheme Implementation Agreement on customary terms and conditions, a unanimous Qube Board recommendation, final approvals from the Qube Board and MAM and approvals from Foreign Investment Review Board and Australian Competition & Consumer Commission. UBS acted as financial advisor for Qube Holdings Limited. Allens acted as legal advisor for Qube Holdings Limited.
お知らせ • Nov 08+ 1 more updateQube Holdings Limited to Report Fiscal Year 2026 Final Results on Aug 20, 2026Qube Holdings Limited announced that they will report fiscal year 2026 final results on Aug 20, 2026
お知らせ • Sep 22Qube Holdings Limited, Annual General Meeting, Nov 20, 2025Qube Holdings Limited, Annual General Meeting, Nov 20, 2025.
お知らせ • Jul 09Qube Holdings Limited(ASX:QUB) dropped from FTSE All-World Index (USD)Qube Holdings Limited(ASX:QUB) dropped from FTSE All-World Index (USD)
Upcoming Dividend • Jul 06Upcoming dividend of AU$0.35 per shareEligible shareholders must have bought the stock before 13 July 2026. Payment date: 23 July 2026. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 1.9%. Lower than top quartile of Australian dividend payers (6.7%). Lower than average of industry peers (4.7%).
お知らせ • Jun 16Qube Holdings Limited Declares Fully Franked Special Dividend, Payable on 23 July 2026Qube Holdings Limited subject to and following the Scheme becoming effective, the Qube Board intends to declare and pay a fully franked Special Dividend of $0.3465 cash per fully paid ordinary share. Declaration of a Special Dividend remains in the Qube Board's absolute discretion. Qube Special Dividend record date Tuesday, 14 July 2026, Qube Special Dividend payment date Thursday, 23 July 2026.
お知らせ • Nov 24Macquarie Asset Management Pty Limited proposed to acquire Qube Holdings Limited (ASX:QUB) for AUD 9.2 billion.Macquarie Asset Management Pty Limited entered into a process deed to acquire Qube Holdings Limited (ASX:QUB) for AUD 9.2 billion on November 23, 2025. A cash consideration valued at AUD 5.2 per share will be paid by Macquarie Asset Management. The transaction is subject to Satisfactory completion of due diligence on Qube and its operations by MAM, entry into a Scheme Implementation Agreement on customary terms and conditions, a unanimous Qube Board recommendation, final approvals from the Qube Board and MAM and approvals from Foreign Investment Review Board and Australian Competition & Consumer Commission. UBS acted as financial advisor for Qube Holdings Limited. Allens acted as legal advisor for Qube Holdings Limited.
お知らせ • Nov 08+ 1 more updateQube Holdings Limited to Report Fiscal Year 2026 Final Results on Aug 20, 2026Qube Holdings Limited announced that they will report fiscal year 2026 final results on Aug 20, 2026
お知らせ • Sep 22Qube Holdings Limited, Annual General Meeting, Nov 20, 2025Qube Holdings Limited, Annual General Meeting, Nov 20, 2025.
Declared Dividend • Aug 23Final dividend increased to AU$0.057Dividend of AU$0.057 is 11% higher than last year. Ex-date: 15th September 2025 Payment date: 14th October 2025 Dividend yield will be 2.3%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (153% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 70% to bring the payout ratio under control. EPS is expected to grow by 76% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
Reported Earnings • Aug 22Full year 2025 earnings released: EPS: AU$0.064 (vs AU$0.13 in FY 2024)Full year 2025 results: EPS: AU$0.064 (down from AU$0.13 in FY 2024). Revenue: AU$4.17b (up 25% from FY 2024). Net income: AU$113.2m (down 50% from FY 2024). Profit margin: 2.7% (down from 6.8% in FY 2024). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Infrastructure industry in Australia. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 13% per year.
お知らせ • Aug 21Qube Holdings Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended June 30, 2025, Payable on October 14, 2025Qube Holdings Limited announced Ordinary fully franked dividend of AUD 0.05700000 per share for the six months ended June 30, 2025. Record Date is September 16, 2025. Ex Date is September 15, 2025. Payment Date is October 14, 2025.
Board Change • Aug 18High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Mick McCormack was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
お知らせ • Apr 11Qube Holdings Limited Announces Resignation of Jackie Mcarthur as A Non-Executive Director, Effective 22 May 2025Qube Holdings Limited announced the resignation of Jackie McArthur as a non-executive director, effective 22 May 2025.
お知らせ • Feb 20Qube Holdings Limited Announces Board and Committee ChangesQube Holdings Limited announced the appointment of Mick McCormack to the board of directors, effective 1 May 2025. Mr. McCormack brings over 40 years' experience in the energy and infrastructure sectors to the board, including 14 years' experience as the Managing Director and CEO of leading Australian energy infrastructure business, APA Group. Prior to joining APA in 2000, Mr. McCormack held various senior management role with AGL Energy. Mr. McCormack is also a non-executive director of both Origin Energy Limited and Whitehaven Coal Limited and recently announced he will step down as a non-executive director and Chairman of Central Petroleum Limited on 30 April 2025. He also serves on the board of the Clontarf Foundation, the Australian Brandenburg Orchestra Foundation and the Origin Energy Foundation. Mr. McCormack holds a Master of Business Administration from the University of Queensland, a Graduate Diploma of Engineering from Monash University, and a Bachelor of Applied Science from the University of Queensland. In addition to Mr. McCormack's appointment, Mr. Davies announced the following changes to the membership of Qube Board subcommittees, effective 20 February 2025: James Fazzino will replace Steve Mann as Chair of the Audit and Risk Management Committee. Mr. Mann will remain a member of the ARMC. John Bevan will replace Jill Hoffmann as a member of the Nomination and Remuneration Committee.
お知らせ • Dec 27Qube Holdings Limited Announces the Appointment of John Bevan to the Board of Directors, Effective 1 January 2025Qube Holdings Limited announced the appointment of John Bevan to the board of directors, effective 1 January 2025. Bevan brings extensive executive and non-executive experience to the board, including as the former Chief Executive Officer and Executive Director of Alumina Limited and from a variety of executive and senior management positions over a more than 25 year career with the BOC Group Plc, in Australia, Asia, and the United Kingdom. Bevan has also previously served as a non-executive director of Alumina Limited, BlueScope Steel Limited, Nuplex Industries, and Ansell and currently serves as a non-executive director of Alcoa Corporation and Balmoral Iron. Mr. Bevan was Chair at both Blue Scope Steel from 2015 to 2023 and Ansell from 2018 to 2023. Bevan holds a Bachelor of Commerce and Marketing from the University of New South Wales.
お知らせ • Oct 17Sam Kaplan Not to Stand for Re-Election as Deputy Chairman of Qube Holdings LimitedQube Holdings Limited announced that Deputy Chairman, Sam Kaplan, will retire from the Qube Board at the conclusion of the 2024 Annual General Meeting, having decided not to seek re-election. When Qube Holdings was formed in 2011, Sam then joined the Qube Board as Deputy Chairman and has played a significant role in guiding the strategic direction of the business throughout his tenure, including at various times as Chair of the Nomination and Remuneration Committee and Chair of the Audit and Risk Management Committee. While Sam is stepping down, it is intended that he will continue to provide strategic advice to Qube, including representing Qube on the Board of Patrick Terminals. The Board succession remained an ongoing focus and a new Board appointment will be announced in due course, noting that the Board does not intend to retain the position of Deputy Chair going forward.
Upcoming Dividend • Sep 09Upcoming dividend of AU$0.051 per shareEligible shareholders must have bought the stock before 16 September 2024. Payment date: 15 October 2024. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of Australian dividend payers (6.1%). Lower than average of industry peers (4.2%).
Declared Dividend • Aug 24Final dividend increased to AU$0.051Dividend of AU$0.051 is 18% higher than last year. Ex-date: 16th September 2024 Payment date: 15th October 2024 Dividend yield will be 2.4%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (71% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Aug 24Qube Holdings Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended June 30, 2024, Payable on October 15, 2024Qube Holdings Limited announced Ordinary fully franked dividend of AUD 0.05150000 per share for the six months ended June 30, 2024. Record Date is September 17, 2024. Ex Date is September 16, 2024. Payment Date is October 15, 2024.
Reported Earnings • Aug 22Full year 2024 earnings released: EPS: AU$0.13 (vs AU$0.10 in FY 2023)Full year 2024 results: EPS: AU$0.13 (up from AU$0.10 in FY 2023). Revenue: AU$3.36b (up 17% from FY 2023). Net income: AU$227.0m (up 29% from FY 2023). Profit margin: 6.8% (up from 6.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Infrastructure industry in Oceania. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Feb 27Upcoming dividend of AU$0.04 per shareEligible shareholders must have bought the stock before 05 March 2024. Payment date: 11 April 2024. Payout ratio is on the higher end at 80% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Australian dividend payers (6.4%). Lower than average of industry peers (4.3%).
Declared Dividend • Feb 24First half dividend of AU$0.04 announcedShareholders will receive a dividend of AU$0.04. Ex-date: 5th March 2024 Payment date: 11th April 2024 Dividend yield will be 2.6%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 23First half 2024 earnings released: EPS: AU$0.065 (vs AU$0.06 in 1H 2023)First half 2024 results: EPS: AU$0.065 (up from AU$0.06 in 1H 2023). Revenue: AU$1.56b (up 8.5% from 1H 2023). Net income: AU$114.0m (up 7.5% from 1H 2023). Profit margin: 7.3% (down from 7.4% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Infrastructure industry in Oceania. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 05Qube Holdings Limited Announces Retirement of Ross Burney as DirectorQube Holdings Limited announced the retirement of long-standing non-executive Director, Mr. Ross Burney, effective 22 February 2024. Burney has been a director of Qube since its incorporation in 2011, having also served as a member of the investment advisory committee that undertook the preparatory work leading to Qube's successful corporatization.
お知らせ • Jan 15Qube Holdings Limited Announces James Fazzino Will Join the Board of Directors from 22 February 2024Qube announced that Mr. James Fazzino will join the board of directors of Qube Holdings Limited from 22 February 2024. Mr. Fazzino has had an extensive executive career in agribusiness, mining, manufacturing and chemical industries working in senior roles across a diverse range of organisations. In particular, Mr. Fazzino was Chief Financial Officer, Chief Executive Officer and Managing Director at industrial chemicals manufacturer Incitec Pivot Limited where he led the successful globalisation of the business including the construction of two large chemical plants in Australia and the United States. Mr. Fazzino is a non-executive director of energy infrastructure business APA Group and Chair of its Sustainability Committee. He is also a non-executive director and Chair (elect) of Rabobank Australia Limited, Chair of Manufacturing Australia and a former Chair of Tassal Limited. Mr. Fazzino graduated from La Trobe University with a Bachelor of Economics (Hons). He is a Vice-Chancellor's Fellow of La Trobe University, a fellow of CPA Australia and was a past co-convenor of the Energy Group of the Champions of Change Coalition.
お知らせ • Dec 15Qube Holdings Limited Appoints Ms Jill Hoffmann as Director to the Board Effective 15 December 2023Qube Holdings Limited announces the appointment of Ms Jill Hoffmann to the board of directors of Qube Holdings Limited, effective 15 December 2023. Ms Hoffmann has more than 30 years' experience in the energy sector and across a broad range of roles including shipping, operations, supply chain, renewables, crisis management, corporate social responsibility, environment and heritage, marketing and trading. She is currently non-executive director at Strike Energy and a former Chair of Fremantle Ports, where she was also Chair of the Audit and Risk committee. Ms Hoffmann holds a Master of Business Administration from Henley Management College, England and a Bachelor of Business, Massey University, New Zealand. She is also a Fellow of the Australian Institute of Company Directors.
お知らせ • Dec 01+ 2 more updatesQube Holdings Limited to Report First Half, 2024 Results on Feb 22, 2024Qube Holdings Limited announced that they will report first half, 2024 results on Feb 22, 2024
お知らせ • Oct 10Qube Holdings Limited Announces Retirement of Nicole Hollows as Independent Non-Executive Director, Effective 10 November 2023Qube Holdings Limited announced that Ms Nicole Hollows will retire as an independent non-executive director of Qube Holdings, effective 10 November 2023.
Upcoming Dividend • Sep 11Upcoming dividend of AU$0.043 per share at 2.9% yieldEligible shareholders must have bought the stock before 18 September 2023. Payment date: 17 October 2023. Payout ratio is on the higher end at 81% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Australian dividend payers (7.0%). Lower than average of industry peers (4.2%).
Reported Earnings • Aug 25Full year 2023 earnings released: EPS: AU$0.10 (vs AU$0.071 in FY 2022)Full year 2023 results: EPS: AU$0.10 (up from AU$0.071 in FY 2022). Revenue: AU$2.86b (up 15% from FY 2022). Net income: AU$175.9m (up 30% from FY 2022). Profit margin: 6.1% (up from 5.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Infrastructure industry in Oceania. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
New Risk • Aug 25New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.
お知らせ • Aug 24Qube Holdings Limited Announces Final Fully Franked Dividend for the Year Ended 30 June 2023, Payable on 17 October 2023Qube Holdings Limited announced final fully franked dividend for the year ended 30 June 2023 of 4.35 cents per share, Payable on 17 October 2023 (2022: 3.3 cents per fully paid share paid on 18 October 2022). Record Date: 19 September 2023.
Upcoming Dividend • Feb 28Upcoming dividend of AU$0.037 per share at 2.0% yieldEligible shareholders must have bought the stock before 07 March 2023. Payment date: 13 April 2023. Payout ratio is on the higher end at 76% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Australian dividend payers (7.1%). Lower than average of industry peers (3.2%).
Reported Earnings • Feb 24First half 2023 earnings released: EPS: AU$0.06 (vs AU$0.038 in 1H 2022)First half 2023 results: EPS: AU$0.06 (up from AU$0.038 in 1H 2022). Revenue: AU$1.44b (up 23% from 1H 2022). Net income: AU$106.0m (up 45% from 1H 2022). Profit margin: 7.4% (up from 6.3% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Infrastructure industry in Oceania. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.
お知らせ • Nov 28+ 2 more updatesQube Holdings Limited to Report First Half, 2023 Results on Feb 23, 2023Qube Holdings Limited announced that they will report first half, 2023 results on Feb 23, 2023
Upcoming Dividend • Sep 12Upcoming dividend of AU$0.04 per shareEligible shareholders must have bought the stock before 19 September 2022. Payment date: 18 October 2022. Payout ratio is on the higher end at 89% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Australian dividend payers (6.5%). Lower than average of industry peers (3.2%).
Reported Earnings • Aug 26Full year 2022 earnings released: EPS: AU$0.071 (vs AU$0.023 loss in FY 2021)Full year 2022 results: EPS: AU$0.071 (up from AU$0.023 loss in FY 2021). Revenue: AU$2.49b (up 27% from FY 2021). Net income: AU$134.9m (up AU$178.9m from FY 2021). Profit margin: 5.4% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 13%, compared to a 22% growth forecast for the Infrastructure industry in Australia. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Mar 01Upcoming dividend of AU$0.03 per shareEligible shareholders must have bought the stock before 08 March 2022. Payment date: 08 April 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Australian dividend payers (5.7%). Lower than average of industry peers (3.1%).
Reported Earnings • Feb 26First half 2022 earnings: EPS in line with analyst expectations despite revenue beatFirst half 2022 results: EPS: AU$0.038 (up from AU$0.026 in 1H 2021). Revenue: AU$1.17b (up 28% from 1H 2021). Net income: AU$73.3m (up 52% from 1H 2021). Profit margin: 6.3% (up from 5.3% in 1H 2021). Revenue exceeded analyst estimates by 16%. Over the next year, revenue is forecast to grow 11%, compared to a 25% growth forecast for the industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.
Recent Insider Transactions • Oct 14Independent Director recently bought AU$81k worth of stockOn the 12th of October, Jacqueline McArthur bought around 25k shares on-market at roughly AU$3.25 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$112k more in shares than they have sold in the last 12 months.
Upcoming Dividend • Sep 14Upcoming dividend of AU$0.035 per shareEligible shareholders must have bought the stock before 21 September 2021. Payment date: 22 October 2021. Trailing yield: 1.8%. Lower than top quartile of Australian dividend payers (5.3%). Lower than average of industry peers (2.5%).
Reported Earnings • Aug 27Full year 2021 earnings released: AU$0.023 loss per share (vs AU$0.052 profit in FY 2020)The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2021 results: Revenue: AU$1.96b (up 7.0% from FY 2020). Net loss: AU$44.0m (down 150% from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.08 years.
Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.08 years.
Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Executive Departure • Jul 04Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Executive Departure • Jul 03Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Executive Departure • Jul 03Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Executive Departure • Jul 03Executive Director Maurice James has left the companyOn the 1st of July, Maurice James was replaced as CEO by Paul Digney. As of March 2021, Maurice still personally held 10.10m shares (AU$22m worth at the time). A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 5.04 years.
Upcoming Dividend • Mar 02Upcoming Dividend of AU$0.025 Per ShareWill be paid on the 8th of April to those who are registered shareholders by the 9th of March. The trailing yield of 1.6% is below the top quartile of Australian dividend payers (5.3%), and is lower than industry peers (2.2%).
Reported Earnings • Feb 27First half 2021 earnings released: EPS AU$0.031 (vs AU$0.032 in 1H 2020)The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: AU$920.8m (down 2.4% from 1H 2020). Net income: AU$57.8m (up 12% from 1H 2020). Profit margin: 6.3% (up from 5.5% in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
Analyst Estimate Surprise Post Earnings • Feb 26Revenue misses expectationsRevenue missed analyst estimates by 4.0%. Over the next year, revenue is forecast to grow 11%, compared to a 5.2% growth forecast for the Infrastructure industry in Australia.
お知らせ • Feb 26Qube Holdings Limited Announces Management ChangesQube Chairman Allan Davies announced that Maurice James would step down as Managing Director on June 30, 2021 and retire formally from Qube at the end of December 2021. After considering a range of external and internal candidates the Board has unanimously chosen Chief Operating Officer (COO) Paul Digney to step up to Managing Director of Qube from July 1, 2021. Since his appointment to the role of COO in 2016, Paul has been accountable for all operations across the Logistics, Ports and Bulk Division which deliver the majority of Qube's revenues. After Maurice steps down as a Director of Qube and Managing Director, Maurice will be available to provide guidance and mentoring as Paul takes up the challenges ahead.
Is New 90 Day High Low • Feb 06New 90-day high: AU$3.07The company is up 7.0% from its price of AU$2.87 on 06 November 2020. The Australian market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Infrastructure industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$1.23 per share.
お知らせ • Feb 03Qube Holdings Limited to Report First Half, 2021 Results on Feb 25, 2021Qube Holdings Limited announced that they will report first half, 2021 results on Feb 25, 2021
お知らせ • Dec 15Qube Holdings Limited, Annual General Meeting, Nov 11, 2021Qube Holdings Limited, Annual General Meeting, Nov 11, 2021.
Is New 90 Day High Low • Nov 10New 90-day high: AU$2.93The company is up 3.0% from its price of AU$2.85 on 12 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Infrastructure industry, which is also up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.34 per share.
お知らせ • Oct 16Qube Holdings Limited Announces the Appointment of Nicole Hollows to the Board of DirectorsQube Holdings Limited announced the appointment of Ms. Nicole Hollows to the board of directors of the company, effective from 19 October 2020. Ms. Hollows has over 20 years' experience in the resources sector in a number of senior managerial roles across both the public and private sectors, including in mining, utilities and rail. Ms. Hollows is currently an independent non-executive Chairman of Jameson Resources Limited and also an independent non-executive director of Downer EDI Limited.
お知らせ • Oct 06Qube Reportedly About to Cash Up and Go After Piece of TollQube Holdings Limited (ASX:QUB)’s attention is turning to its next potential takeover target, Toll Holdings Limited. It is expected that a next step for Qube will be competing for parts of the Japanese-owned logistics business Toll, which is up for sale through JPMorgan and Nomura. It is understood that information memorandums are expected to hit the desks of buyers in one to two months and one of the challenges facing Toll is that some of the properties that it sold and leased back to raise capital remain vacant, despite the company having to pay rent. Qube has made no secret of the fact that some parts of Toll would be of interest, particularly its divisions servicing the resources industry, including its bulk freight operations, oil and gas logistics arm, and potentially its government services operation. However, should Toll's owner, Japan Post Holdings Co., Ltd. (TSE:6178), opt for a break-up, another party that some think may be in the mix for assets is Australia Post.
Is New 90 Day High Low • Sep 18New 90-day low: AU$2.56The company is down 9.0% from its price of AU$2.80 on 19 June 2020. The Australian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.44 per share.
お知らせ • Sep 13Qube Holdings Limited Provides Earnings Guidance for the Fiscal Year 2020Qube Holdings Limited provided earnings guidance for the fiscal year 2020. There was a little bit of impact linked with the motor vehicles and break bulk cargoes that happen through AAT as well. So all in all, it not be as the company called out for COVID, it would have expected to deliver increased earnings in 2020 compared to 2019. But obviously, COVID had an impact. It touched on COVID at $130 million of revenue and an NPAT level of $21 million impact is really where it saw that impact. The estimated impact on 2020 results - underlying results from COVID. Obviously, lower revenue goes straight to an EBIT impact of $30 million or thereabouts. The 2020 result there was consistent with that guidance around lower fill income in 2020 compared to 2019.
お知らせ • Sep 11Qube Holdings Limited (ASX:QUB) acquired an additional 5.54% stake in The Quattro Grain Trust.Qube Holdings Limited (ASX:QUB) acquired an additional 5.54% stake in The Quattro Grain Trust on February 26, 2020. Upon completion, Qube Holdings Limited owns 52.77% stake in The Quattro Grain Trust. In a subsequent transaction in March 2020, Qube Holdings Limited acquired the remaining 47.23% stake in The Quattro Grain Trust. The total consideration for 100% stake is AUD 37 million. Qube Holdings Limited (ASX:QUB) completed the acquisition of an additional 5.54% stake in The Quattro Grain Trust on February 26, 2020.
お知らせ • Aug 27Qube Holdings Limited (ASX:QUB) acquired NFA Holdings Limited for AUD 26.1 million.Qube Holdings Limited (ASX:QUB) acquired NFA Holdings Limited for AUD 26.1 million on January 31, 2020. Qube Holdings Limited (ASX:QUB) completed the acquisition of NFA Holdings Limited on January 31, 2020.
