Qualitas Limited

ASX:QAL Stock Report

Market Cap: AU$787.5m

Qualitas Valuation

Is QAL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of QAL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: QAL (A$2.65) is trading above our estimate of fair value (A$1.51)

Significantly Below Fair Value: QAL is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for QAL?

Key metric: As QAL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for QAL. This is calculated by dividing QAL's market cap by their current earnings.
What is QAL's PE Ratio?
PE Ratio29.6x
EarningsAU$26.18m
Market CapAU$787.51m

Price to Earnings Ratio vs Peers

How does QAL's PE Ratio compare to its peers?

The above table shows the PE ratio for QAL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.9x
CIN Carlton Investments
20.7xn/aAU$810.3m
EQT EQT Holdings
40.1x22.7%AU$845.6m
PL8 Plato Income Maximiser
13.9xn/aAU$913.3m
DJW Djerriwarrh Investments
21xn/aAU$833.3m
QAL Qualitas
29.6x22.4%AU$787.5m

Price-To-Earnings vs Peers: QAL is expensive based on its Price-To-Earnings Ratio (29.6x) compared to the peer average (23.9x).

Price to Earnings Ratio vs Industry

How does QAL's PE Ratio compare vs other companies in the AU Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KBC Keybridge Capital
1.4xn/aUS$6.46m
OEQ Orion Equities
0.6xn/aUS$1.22m
QUE Queste Communications
0.8xn/aUS$862.51k
PEQA Pritchard Equity
2.7xn/aUS$861.02k
No more companies available in this PE range
QAL 29.6xIndustry Avg. 20.0xNo. of Companies7PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: QAL is expensive based on its Price-To-Earnings Ratio (29.6x) compared to the Australian Capital Markets industry average (20x).

Price to Earnings Ratio vs Fair Ratio

What is QAL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

QAL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29.6x
Fair PE Ratio19.8x

Price-To-Earnings vs Fair Ratio: QAL is expensive based on its Price-To-Earnings Ratio (29.6x) compared to the estimated Fair Price-To-Earnings Ratio (19.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst QAL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$2.65
AU$3.35
+26.3%
12.1%AU$3.90AU$2.94n/a3
Nov ’25AU$2.71
AU$3.35
+23.5%
12.1%AU$3.90AU$2.94n/a3
Oct ’25AU$2.41
AU$3.35
+38.9%
12.1%AU$3.90AU$2.94n/a3
Sep ’25AU$2.32
AU$3.35
+44.3%
12.1%AU$3.90AU$2.94n/a3
Aug ’25AU$2.40
AU$3.30
+37.4%
8.7%AU$3.70AU$3.09n/a3
Jul ’25AU$2.34
AU$3.23
+38.0%
10.6%AU$3.70AU$2.89n/a3
Jun ’25AU$2.44
AU$3.20
+31.0%
9.3%AU$3.60AU$2.89n/a3
May ’25AU$2.41
AU$3.20
+32.6%
9.3%AU$3.60AU$2.89n/a3
Apr ’25AU$2.64
AU$3.20
+21.1%
9.3%AU$3.60AU$2.89n/a3
Mar ’25AU$2.65
AU$3.20
+20.6%
9.3%AU$3.60AU$2.89n/a3
Feb ’25AU$2.48
AU$3.31
+33.5%
6.5%AU$3.60AU$3.08n/a3
Jan ’25AU$2.34
AU$3.30
+41.0%
6.9%AU$3.60AU$3.05n/a3
Dec ’24AU$2.17
AU$3.30
+52.4%
6.9%AU$3.60AU$3.05n/a3
Nov ’24AU$2.33
AU$3.30
+41.6%
6.9%AU$3.60AU$3.05AU$2.713
Oct ’24AU$2.27
AU$3.18
+40.2%
3.2%AU$3.30AU$3.05AU$2.413
Sep ’24AU$2.46
AU$3.18
+29.4%
3.2%AU$3.30AU$3.05AU$2.323
Aug ’24AU$2.54
AU$3.41
+34.4%
6.5%AU$3.71AU$3.18AU$2.403
Jul ’24AU$2.69
AU$3.44
+28.0%
5.6%AU$3.71AU$3.27AU$2.343
Jun ’24AU$2.76
AU$3.50
+26.6%
8.3%AU$3.80AU$3.15AU$2.444
May ’24AU$2.47
AU$3.40
+37.4%
12.6%AU$3.80AU$2.75AU$2.414
Apr ’24AU$2.39
AU$3.61
+51.0%
6.7%AU$3.80AU$3.27AU$2.643
Mar ’24AU$2.84
AU$3.61
+27.1%
6.7%AU$3.80AU$3.27AU$2.653
Feb ’24AU$2.80
AU$3.37
+20.2%
2.5%AU$3.45AU$3.28AU$2.482
Jan ’24AU$2.80
AU$3.33
+18.9%
3.6%AU$3.45AU$3.21AU$2.342
Dec ’23AU$2.41
AU$3.31
+37.1%
2.9%AU$3.40AU$3.21AU$2.172
Nov ’23AU$2.47
AU$3.31
+33.8%
2.9%AU$3.40AU$3.21AU$2.332

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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