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Qube Holdings

ASX:QUB
Snowflake Description

Acceptable track record with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
QUB
ASX
A$5B
Market Cap
  1. Home
  2. AU
  3. Transportation
Company description

Qube Holdings Limited, together with its subsidiaries, provides integrated import and export logistics services for freight moving to and from ports in Australia. The last earnings update was 148 days ago. More info.


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QUB Share Price and Events
7 Day Returns
0.3%
ASX:QUB
-1.8%
Oceania Infrastructure
-0.1%
AU Market
1 Year Returns
24%
ASX:QUB
25.9%
Oceania Infrastructure
5.2%
AU Market
QUB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Qube Holdings (QUB) 0.3% 2% 8.8% 24% 27.6% 35.4%
Oceania Infrastructure -1.8% 3.2% 13.2% 25.9% 27.2% 96.5%
AU Market -0.1% 2.4% 6.5% 5.2% 19.8% 11.8%
1 Year Return vs Industry and Market
  • QUB underperformed the Infrastructure industry which returned 25.9% over the past year.
  • QUB outperformed the Market in Australia which returned 5.2% over the past year.
Price Volatility
QUB
Industry
5yr Volatility vs Market

QUB Value

 Is Qube Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Qube Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Qube Holdings.

ASX:QUB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:QUB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Infrastructure Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.837 (1 + (1- 30%) (23.89%))
0.985
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.985 * 5.96%)
8.18%

Discounted Cash Flow Calculation for ASX:QUB using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Qube Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:QUB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 8.18%)
2020 39.00 Analyst x2 36.05
2021 9.88 Analyst x1 8.44
2022 73.00 Analyst x1 57.66
2023 124.56 Est @ 70.63% 90.94
2024 187.00 Est @ 50.13% 126.21
2025 253.92 Est @ 35.79% 158.41
2026 319.29 Est @ 25.74% 184.13
2027 379.04 Est @ 18.71% 202.05
2028 431.32 Est @ 13.79% 212.53
2029 475.96 Est @ 10.35% 216.79
Present value of next 10 years cash flows A$1,293.21
ASX:QUB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$475.96 × (1 + 2.31%) ÷ (8.18% – 2.31%)
A$8,296.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$8,296.62 ÷ (1 + 8.18%)10
A$3,778.96
ASX:QUB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$1,293.21 + A$3,778.96
A$5,072.17
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$5,072.17 / 1,604.12
A$3.16
ASX:QUB Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$3.16
Current discount Discount to share price of A$3.10
= -1 x (A$3.10 - A$3.16) / A$3.16
2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Qube Holdings is available for.
Intrinsic value
2%
Share price is A$3.1 vs Future cash flow value of A$3.16
Current Discount Checks
For Qube Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Qube Holdings's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Qube Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Qube Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Qube Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:QUB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.13
ASX:QUB Share Price ** ASX (2019-07-18) in AUD A$3.1
Oceania Infrastructure Industry PE Ratio Median Figure of 8 Publicly-Listed Infrastructure Companies 24.27x
Australia Market PE Ratio Median Figure of 546 Publicly-Listed Companies 16.19x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Qube Holdings.

ASX:QUB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:QUB Share Price ÷ EPS (both in AUD)

= 3.1 ÷ 0.13

23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Qube Holdings is good value based on earnings compared to the Oceania Infrastructure industry average.
  • Qube Holdings is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does Qube Holdings's expected growth come at a high price?
Raw Data
ASX:QUB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
6.9%per year
Oceania Infrastructure Industry PEG Ratio Median Figure of 5 Publicly-Listed Infrastructure Companies 5.05x
Australia Market PEG Ratio Median Figure of 361 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

ASX:QUB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23x ÷ 6.9%

3.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Qube Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Qube Holdings's assets?
Raw Data
ASX:QUB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$1.71
ASX:QUB Share Price * ASX (2019-07-18) in AUD A$3.1
Oceania Infrastructure Industry PB Ratio Median Figure of 8 Publicly-Listed Infrastructure Companies 2.13x
Australia Market PB Ratio Median Figure of 1,693 Publicly-Listed Companies 1.68x
ASX:QUB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:QUB Share Price ÷ Book Value per Share (both in AUD)

= 3.1 ÷ 1.71

1.81x

* Primary Listing of Qube Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Qube Holdings is good value based on assets compared to the Oceania Infrastructure industry average.
X
Value checks
We assess Qube Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Infrastructure industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Infrastructure industry average (and greater than 0)? (1 check)
  5. Qube Holdings has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

QUB Future Performance

 How is Qube Holdings expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Qube Holdings expected to grow at an attractive rate?
  • Qube Holdings's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Qube Holdings's earnings growth is positive but not above the Australia market average.
  • Qube Holdings's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:QUB Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:QUB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 6.9%
ASX:QUB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 6.8%
Oceania Infrastructure Industry Earnings Growth Rate Market Cap Weighted Average 14.1%
Oceania Infrastructure Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
Australia Market Earnings Growth Rate Market Cap Weighted Average 7.3%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:QUB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:QUB Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 2,264 319 179 2
2022-06-30 2,124 303 173 3
2021-06-30 1,978 285 162 7
2020-06-30 1,846 254 138 8
2019-06-30 1,737 230 121 8
ASX:QUB Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,639 232 216
2018-09-30 1,619 219 207
2018-06-30 1,599 206 199
2018-03-31 1,560 191 137
2017-12-31 1,521 176 75
2017-09-30 1,477 190 76
2017-06-30 1,433 205 77
2017-03-31 1,377 193 79
2016-12-31 1,321 181 81
2016-09-30 1,304 182 81
2016-06-30 1,287 182 82
2016-03-31 1,333 193 81

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Qube Holdings's earnings are expected to grow by 6.9% yearly, however this is not considered high growth (20% yearly).
  • Qube Holdings's revenue is expected to grow by 6.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:QUB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Qube Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:QUB Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30 0.11 0.11 0.11 1.00
2022-06-30 0.11 0.12 0.10 3.00
2021-06-30 0.10 0.11 0.09 6.00
2020-06-30 0.09 0.10 0.07 7.00
2019-06-30 0.08 0.08 0.07 6.00
ASX:QUB Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.13
2018-09-30 0.13
2018-06-30 0.12
2018-03-31 0.09
2017-12-31 0.05
2017-09-30 0.05
2017-06-30 0.05
2017-03-31 0.06
2016-12-31 0.06
2016-09-30 0.07
2016-06-30 0.07
2016-03-31 0.07

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Qube Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Qube Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Oceania market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Oceania market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Qube Holdings has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

QUB Past Performance

  How has Qube Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Qube Holdings's growth in the last year to its industry (Infrastructure).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Qube Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Qube Holdings's 1-year earnings growth exceeds its 5-year average (188.6% vs 16.5%)
  • Qube Holdings's earnings growth has exceeded the Oceania Infrastructure industry average in the past year (188.6% vs 4.6%).
Earnings and Revenue History
Qube Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Qube Holdings Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:QUB Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,638.50 215.60 103.60
2018-09-30 1,618.85 207.45 102.10
2018-06-30 1,599.20 199.30 100.60
2018-03-31 1,560.00 137.00 99.65
2017-12-31 1,520.80 74.70 98.70
2017-09-30 1,476.70 76.00 95.20
2017-06-30 1,432.60 77.30 91.70
2017-03-31 1,376.90 79.05 82.85
2016-12-31 1,321.20 80.80 74.00
2016-09-30 1,304.25 81.40 73.95
2016-06-30 1,287.30 82.00 73.90
2016-03-31 1,333.35 81.10 75.65
2015-12-31 1,379.40 80.20 77.40
2015-09-30 1,403.50 83.05 77.20
2015-06-30 1,427.60 85.90 77.00
2015-03-31 1,385.41 93.66 76.75
2014-12-31 1,343.23 101.42 76.50
2014-09-30 1,276.95 94.67 74.79
2014-06-30 1,210.67 87.91 73.09
2014-03-31 1,165.33 85.89 76.05
2013-12-31 1,120.00 83.87 79.00
2013-09-30 1,092.33 80.61 75.60
2013-06-30 1,064.67 77.34 72.20
2013-03-31 1,014.81 50.65 64.41
2012-12-31 964.95 23.96 56.63
2012-09-30 874.34 10.72 56.92

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Qube Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Qube Holdings used its assets less efficiently than the Oceania Infrastructure industry average last year based on Return on Assets.
  • Qube Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Qube Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Infrastructure industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Qube Holdings has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

QUB Health

 How is Qube Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Qube Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Qube Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Qube Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Qube Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Qube Holdings Company Filings, last reported 6 months ago.

ASX:QUB Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,738.90 1,183.30 107.00
2018-09-30 2,738.90 1,183.30 107.00
2018-06-30 2,750.10 957.30 103.90
2018-03-31 2,750.10 957.30 103.90
2017-12-31 2,628.90 888.40 122.80
2017-09-30 2,628.90 888.40 122.80
2017-06-30 2,612.60 798.20 190.80
2017-03-31 2,612.60 798.20 190.80
2016-12-31 2,261.20 1,028.30 74.70
2016-09-30 2,261.20 1,028.30 74.70
2016-06-30 2,037.30 665.60 620.30
2016-03-31 2,037.30 665.60 620.30
2015-12-31 1,526.10 1,160.60 645.30
2015-09-30 1,526.10 1,160.60 645.30
2015-06-30 1,488.30 579.20 88.20
2015-03-31 1,488.30 579.20 88.20
2014-12-31 1,475.34 472.45 81.13
2014-09-30 1,475.34 472.45 81.13
2014-06-30 1,445.35 350.30 111.67
2014-03-31 1,445.35 350.30 111.67
2013-12-31 1,167.85 557.38 57.56
2013-09-30 1,167.85 557.38 57.56
2013-06-30 1,142.08 467.13 57.73
2013-03-31 1,142.08 467.13 57.73
2012-12-31 1,113.43 442.98 46.78
2012-09-30 1,113.43 442.98 46.78
  • Qube Holdings's level of debt (43.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (48.7% vs 43.2% today).
  • Debt is not well covered by operating cash flow (19.6%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 11.2x coverage).
X
Financial health checks
We assess Qube Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Qube Holdings has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

QUB Dividends

 What is Qube Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.13%
Current annual income from Qube Holdings dividends. Estimated to be 2.17% next year.
If you bought A$2,000 of Qube Holdings shares you are expected to receive A$43 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Qube Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Australia (2.51%).
  • Qube Holdings's dividend is below the markets top 25% of dividend payers in Australia (5.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:QUB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Oceania Infrastructure Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.5%
Australia Market Average Dividend Yield Market Cap Weighted Average of 415 Stocks 4%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.5%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:QUB Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 0.08 2.00
2022-06-30 0.07 3.00
2021-06-30 0.07 8.00
2020-06-30 0.06 9.00
2019-06-30 0.07 9.00
ASX:QUB Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-20 0.066 2.302
2018-08-22 0.055 2.099
2018-02-21 0.055 2.312
2017-08-22 0.055 2.159
2017-02-21 0.055 2.127
2016-08-23 0.055 2.348
2016-02-23 0.055 2.327
2015-08-19 0.056 2.574
2015-02-23 0.054 2.038
2014-08-21 0.054 2.249
2014-02-20 0.048 2.146
2013-08-22 0.046 2.266
2013-02-25 0.044 2.553
2012-08-22 0.042 2.649
2012-02-23 0.040 2.556
2011-08-18 0.038 2.760
2011-02-24 0.034 2.196
2010-08-19 0.030 2.830
2010-02-17 0.040 4.590
2009-09-30 0.040 4.678
2008-09-29 0.050 8.858

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Qube Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess Qube Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Qube Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Qube Holdings has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

QUB Management

 What is the CEO of Qube Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Maurice James
COMPENSATION A$4,084,439
AGE 62
CEO Bio

Mr. Maurice A. James, B. Engineering, MBA serves as the Managing Director of Qube Holdings Limited (alternate name: Qube Logistics Holdings Limited) since September 1, 2011. Mr. James has over 30 years’ extensive experience in engineering, ports and logistics industries. His early career was spent at the Port of Melbourne Corporation initially as an engineer then through various roles to head of Commercial Operations. Mr. James was an integral part of the executive team of Patrick Corporation Limited between 1994 and 2006. His last position at Patrick was that of Executive Director Ports which included responsibility for Patrick’s container terminals and port logistics businesses. Since 2007, Mr. James has had various roles in the Qube-related group of companies. is a Director on the Board of the Australian Logistics Council and also sits on the NSW, Victorian and WA Freight Advisory Councils. In March 2017, he was appointed to the Australian Government’s National Freight and Supply Chain Expert Panel for an Inquiry into National Freight and Supply Chain Priorities which was released by the Government in May 2018. Mr. James sits on several Government consultative forums and is an active participant in providing strategic advice and policies for the development of efficient freight movements through Australian ports. Mr. James serves as a Member of the Australian Institute of Management. Mr. James served as a Director - Ports Group at Patrick Corporation Limited. He spent 12 years at Patrick Corporation Limited during which time it was sold to Toll Holdings in 2006. He is the Non-Executive Director of POAGS Pty. Ltd. and Australian Amalgamated Terminals Pty. Ltd. He has been an Executive Director of Qube Logistics Holdings Limited since March 23, 2011. He has been a Non-Executive Director of Coates Hire Limited since January 2008. He serves as a Director of Qube Logistics (Aust) Pty Ltd. and served as a Director at Coates Group Holdings Pty Limited until June 30, 2016. He served as an Executive Director of Patrick Corp. Ltd., since March 30, 2004. Mr. James holds a Bachelor of Engineering (Civil) and a Master of Business Administration from Monash University.

CEO Compensation
  • Maurice's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Maurice's remuneration is about average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the Qube Holdings management team in years:

3
Average Tenure
  • The tenure for the Qube Holdings management team is about average.
Management Team

Maurice James

TITLE
MD & Executive Director
COMPENSATION
A$4M
AGE
62

Paul Lewis

TITLE
Chief Financial Officer
COMPENSATION
A$2M

Paul Digney

TITLE
Chief Operating Officer
COMPENSATION
A$2M
TENURE
3 yrs

William Hara

TITLE
Director of Strategic Assets Division
COMPENSATION
A$2M
TENURE
6.5 yrs

Greg Pauline

TITLE
Director of Infrastructure & Property Assets
COMPENSATION
A$769K
TENURE
1.6 yrs

Adam Jacobs

TITLE
Company Secretary
TENURE
3 yrs

Don Smithwick

TITLE
COMPENSATION
A$998K
TENURE
3.1 yrs
Board of Directors Tenure

Average tenure and age of the Qube Holdings board of directors in years:

7.8
Average Tenure
64.5
Average Age
  • The tenure for the Qube Holdings board of directors is about average.
Board of Directors

Allan Davies

TITLE
Non-Executive Chairman
COMPENSATION
A$260K
AGE
67
TENURE
2.1 yrs

Maurice James

TITLE
MD & Executive Director
COMPENSATION
A$4M
AGE
62
TENURE
8.3 yrs

Sam Kaplan

TITLE
Non-Executive Deputy Chairman
COMPENSATION
A$197K
AGE
69
TENURE
8.3 yrs

Peter Dexter

TITLE
Non Executive Director
COMPENSATION
A$133K
AGE
76
TENURE
7.8 yrs

Ross Burney

TITLE
Non-Executive Director
COMPENSATION
A$119K
AGE
48
TENURE
7.8 yrs

Alan Miles

TITLE
Non-Executive Director
COMPENSATION
A$130K
TENURE
6.3 yrs

Sue Palmer

TITLE
Non Executive Director
COMPENSATION
A$92K
AGE
62
TENURE
1.8 yrs

Åge Holm

TITLE
Alternate Non-Executive Director
TENURE
7.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
06. Mar 19 Sell Perpetual Limited Company 25. Jun 18 04. Mar 19 -36,578,308 A$2.70 A$-98,721,998
06. Mar 19 Buy Perpetual Limited Company 30. Jul 18 04. Mar 19 16,852,734 A$2.55 A$42,900,154
28. Feb 19 Sell Peter Dexter Individual 27. Feb 19 27. Feb 19 -44,500 A$2.81 A$-125,045
30. Aug 18 Sell Kaplan Partners Pty. Ltd. Company 27. Aug 18 27. Aug 18 -1,285,000 A$2.75 A$-3,530,795
X
Management checks
We assess Qube Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Qube Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

QUB News

Simply Wall St News

Qube Holdings Limited (ASX:QUB): What Does Its Beta Value Mean For Your Portfolio?

Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … If the future looks like the past, we could therefore consider it likely that the stock price will experience share price volatility that is roughly similar to the overall market. … What this means for you: Since Qube Holdings has a beta close to one, it will probably show a positive return when the market is moving up, based on history.

Simply Wall St -

Is Now An Opportune Moment To Examine Qube Holdings Limited (ASX:QUB)?

Let’s take a look at Qube Holdings’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … It’s trading around 13.84% above my intrinsic value, which means if you buy Qube Holdings today, you’d be paying a relatively fair price for it. … The price seems to be trading at fair value, which means there’s less benefit from mispricing.

Simply Wall St -

Here's What We Think About Qube Holdings Limited's (ASX:QUB) CEO Pay

Maurice James is the CEO of Qube Holdings Limited (ASX:QUB). … At the time of writing our data says that Qube Holdings Limited has a market cap of AU$4.5b, and is paying total annual CEO compensation of AU$4.1m. … Qube Holdings Limited has served shareholders reasonably well, with a total return of 32% over three years.

Simply Wall St -

Does This Valuation Of Qube Holdings Limited (ASX:QUB) Imply Investors Are Overpaying?

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Qube Holdings Limited (ASX:QUB) as an investment opportunity by estimating the company's future cash flows and discounting them to their present value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (A$, Millions) A$-227.46 A$39.00 A$9.88 A$73.00 A$124.56 A$187.00 A$253.92 A$319.29 A$379.04 A$431.32 Growth Rate Estimate Source Analyst x3 Analyst x2 Analyst x1 Analyst x1 Est @ 70.63% Est @ 50.13% Est @ 35.79% Est @ 25.74% Est @ 18.71% Est @ 13.79% Present Value (A$, Millions) Discounted @ 8.65% A$-209.36 A$33.04 A$7.70 A$52.39 A$82.27 A$113.69 A$142.08 A$164.44 A$179.68 A$188.18 Present Value of 10-year Cash Flow (PVCF)= A$754.12m "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 8.6%.

Simply Wall St -

Does Qube Holdings Limited (ASX:QUB) Have A Good P/E Ratio?

The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Qube Holdings: P/E of 21.37 = A$2.88 ÷ A$0.13 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … And as that P/E ratio drops, the company will look cheap, unless its share price increases. … ASX:QUB Price Estimation Relative to Market, May 17th 2019 Its relatively low P/E ratio indicates that Qube Holdings shareholders think it will struggle to do as well as other companies in its industry classification.

Simply Wall St -

Should You Be Worried About Insider Transactions At Qube Holdings Limited (ASX:QUB)?

So we'll take a look at whether insiders have been buying or selling shares in Qube Holdings Limited (ASX:QUB). … View our latest analysis for Qube Holdings Qube Holdings Insider Transactions Over The Last Year In the last twelve months, the biggest single sale by an insider was when the Non Executive Director, Peter Dexter, sold AU$125k worth of shares at a price of AU$2.81 per share. … Insider Ownership of Qube Holdings Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own.

Simply Wall St -

How Did Qube Holdings Limited's (ASX:QUB) 7.8% ROE Fare Against The Industry?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Qube Holdings Limited (ASX:QUB). … That means that for every A$1 worth of shareholders' equity, it generated A$0.078 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Qube Holdings Limited (ASX:QUB) Insiders Have Been Selling

So we'll take a look at whether insiders have been buying or selling shares in Qube Holdings Limited (ASX:QUB). … That means that an insider was selling shares at below the current price (AU$2.84). … We generally consider it a negative if insiders have been selling on market, especially if they did so below the current price, because it implies that they considered a lower price to be reasonable.

Simply Wall St -

Do Qube Holdings's (ASX:QUB) Earnings Warrant Your Attention?

In contrast to all that, I prefer to spend time on companies like Qube Holdings (ASX:QUB), which has not only revenues, but also profits. … Qube Holdings's Earnings Per Share Are Growing. … Qube Holdings maintained stable EBIT margins over the last year, all while growing revenue 7.7% to AU$1.6b.

Simply Wall St -

Qube Holdings Limited (ASX:QUB): Are Analysts’ Forecast Signalling Trouble Ahead?

Looking at Qube Holdings Limited's (ASX:QUB) earnings update in December 2018, … with earnings expected to decline by -40% in the upcoming year

Simply Wall St -

QUB Company Info

Description

Qube Holdings Limited, together with its subsidiaries, provides integrated import and export logistics services for freight moving to and from ports in Australia. The company’s Logistics segment offers services relating to the import and export of primarily containerized cargo. This segment provides various services, including physical and documentary processes, and tasks of the import/export supply chain, such as road and rail transport of containers to and from ports, operation of container parks, customs and quarantine services, warehousing, intermodal terminals, international freight forwarding, and bulk rail haulage for rural commodities. Its Ports & Bulk segment offers a range of logistics services relating to the import and export of primarily non-containerized freight with a focus on automotive, bulk, and break bulk products; and an integrated logistics solution for the automotive industry covering a range of activities comprising stevedoring, processing, and delivery. It also provides stevedoring and related logistics services for the oil and gas industry, forestry products, and project and general cargo; and handles a range of commodities that include iron ore, copper, nickel concentrate, and mineral sands. The company’s Infrastructure & Property segment owns a 243 hectare parcel of land in the Moorebank logistics park project; a multi-user facility for the stevedoring industry; and a property at Minto in Sydney. It also owns a 41.5% interest in the Quattro Grain joint venture that operates grain storage and handling facility at Port Kembla; and a 50% interest in TQ Holdings Pty Limited to construct and operate a fuel storage facility at Port Kembla. The company’s Patrick segment offers container stevedoring services in Australia. The company was formerly known as Qube Logistics Holdings Limited and changed its name to Qube Holdings Limited in November 2012. Qube Holdings Limited is based in Sydney, Australia.

Details
Name: Qube Holdings Limited
QUB
Exchange: ASX
Founded:
A$4,956,741,173
1,604,123,357
Website: http://www.qube.com.au
Address: Qube Holdings Limited
45 Clarence Street,
Level 27,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX QUB Ordinary Shares Australian Securities Exchange AU AUD 04. Jan 2007
DB 1K1 Ordinary Shares Deutsche Boerse AG DE EUR 04. Jan 2007
CHIA QUB Ordinary Shares Chi-X Australia AU AUD 04. Jan 2007
Number of employees
Current staff
Staff numbers
0
Qube Holdings employees.
Industry
Marine Ports and Services
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 10:38
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2019/07/17
Last earnings filing: 2019/02/20
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.