Qatar National Bank (Q.P.S.C.) Valuation
Is QNBK undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
4/6Valuation Score 4/6
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 QNBK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: QNBK (QAR14.1) is trading above our estimate of fair value (QAR4.44)
Significantly Below Fair Value: QNBK is trading above our estimate of fair value.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for QNBK?
Other financial metrics that can be useful for relative valuation.
| What is QNBK's n/a Ratio? | |
|---|---|
| n/a | 0x |
| n/a | n/a |
| Market Cap | ر.ق130.23b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | n/a |
| Enterprise Value/EBITDA | n/a |
| PEG Ratio | 1.2x |
Price to Earnings Ratio vs Peers
How does QNBK's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 12.1x | ||
QIBK Qatar Islamic Bank (Q.P.S.C.) | 10.4x | 3.2% | ر.ق43.1b |
MARK Masraf Al Rayan (Q.P.S.C.) | 16.7x | 12.9% | ر.ق23.5b |
CBQK Commercial Bank (P.S.Q.C.) | 6.3x | 6.1% | ر.ق17.2b |
QIIK Qatar International Islamic Bank (Q.P.S.C) | 14.8x | 10.8% | ر.ق15.8b |
QNBK Qatar National Bank (Q.P.S.C.) | 8.9x | 7.3% | ر.ق130.2b |
Price-To-Earnings vs Peers: QNBK is good value based on its Price-To-Earnings Ratio (8.9x) compared to the peer average (12.1x).
Price to Earnings Ratio vs Industry
How does QNBK's PE Ratio compare vs other companies in the Asian Banks Industry?
Price-To-Earnings vs Industry: QNBK is good value based on its Price-To-Earnings Ratio (8.9x) compared to the Asian Banks industry average (9.1x).
Price to Earnings Ratio vs Fair Ratio
What is QNBK'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 8.9x |
| Fair PE Ratio | 11.7x |
Price-To-Earnings vs Fair Ratio: QNBK is good value based on its Price-To-Earnings Ratio (8.9x) compared to the estimated Fair Price-To-Earnings Ratio (11.7x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | ر.ق14.10 | ر.ق18.67 +32.4% | 8.7% | ر.ق21.00 | ر.ق15.25 | n/a | 10 |
| Apr ’25 | ر.ق14.28 | ر.ق18.88 +32.2% | 8.7% | ر.ق21.00 | ر.ق15.90 | n/a | 10 |
| Mar ’25 | ر.ق15.23 | ر.ق18.98 +24.6% | 8.6% | ر.ق21.00 | ر.ق15.90 | n/a | 10 |
| Feb ’25 | ر.ق15.49 | ر.ق19.14 +23.5% | 8.1% | ر.ق21.00 | ر.ق15.90 | n/a | 10 |
| Jan ’25 | ر.ق16.53 | ر.ق19.36 +17.1% | 9.8% | ر.ق23.20 | ر.ق16.90 | n/a | 10 |
| Dec ’24 | ر.ق15.70 | ر.ق19.40 +23.5% | 10.1% | ر.ق23.20 | ر.ق16.90 | n/a | 10 |
| Nov ’24 | ر.ق14.99 | ر.ق19.37 +29.2% | 10.3% | ر.ق23.20 | ر.ق16.60 | n/a | 10 |
| Oct ’24 | ر.ق15.25 | ر.ق19.84 +30.1% | 10.3% | ر.ق23.10 | ر.ق16.60 | n/a | 9 |
| Sep ’24 | ر.ق15.60 | ر.ق19.89 +27.5% | 10.0% | ر.ق23.10 | ر.ق16.60 | n/a | 9 |
| Aug ’24 | ر.ق17.15 | ر.ق20.54 +19.8% | 11.7% | ر.ق25.50 | ر.ق17.50 | n/a | 10 |
| Jul ’24 | ر.ق15.42 | ر.ق20.61 +33.7% | 13.0% | ر.ق25.50 | ر.ق17.50 | n/a | 10 |
| Jun ’24 | ر.ق16.06 | ر.ق20.86 +29.9% | 11.9% | ر.ق25.50 | ر.ق17.60 | n/a | 10 |
| May ’24 | ر.ق15.65 | ر.ق21.57 +37.9% | 15.2% | ر.ق28.70 | ر.ق17.60 | n/a | 11 |
| Apr ’24 | ر.ق16.07 | ر.ق22.98 +43.0% | 13.0% | ر.ق28.70 | ر.ق20.00 | ر.ق14.28 | 10 |
| Mar ’24 | ر.ق16.59 | ر.ق23.28 +40.3% | 12.9% | ر.ق28.70 | ر.ق20.00 | ر.ق15.23 | 9 |
| Feb ’24 | ر.ق17.48 | ر.ق23.40 +33.9% | 12.4% | ر.ق28.70 | ر.ق20.00 | ر.ق15.49 | 9 |
| Jan ’24 | ر.ق18.00 | ر.ق24.69 +37.2% | 10.1% | ر.ق28.70 | ر.ق20.20 | ر.ق16.53 | 9 |
| Dec ’23 | ر.ق19.52 | ر.ق24.76 +26.8% | 8.4% | ر.ق28.70 | ر.ق22.00 | ر.ق15.70 | 9 |
| Nov ’23 | ر.ق19.95 | ر.ق25.16 +26.1% | 7.1% | ر.ق28.70 | ر.ق22.00 | ر.ق14.99 | 9 |
| Oct ’23 | ر.ق19.90 | ر.ق25.61 +28.7% | 7.4% | ر.ق28.70 | ر.ق22.00 | ر.ق15.25 | 9 |
| Sep ’23 | ر.ق20.00 | ر.ق25.59 +27.9% | 7.4% | ر.ق28.70 | ر.ق22.00 | ر.ق15.60 | 9 |
| Aug ’23 | ر.ق20.80 | ر.ق25.36 +21.9% | 8.5% | ر.ق28.70 | ر.ق22.20 | ر.ق17.15 | 9 |
| Jul ’23 | ر.ق19.98 | ر.ق25.90 +29.6% | 8.9% | ر.ق28.70 | ر.ق22.20 | ر.ق15.42 | 9 |
| Jun ’23 | ر.ق21.35 | ر.ق26.45 +23.9% | 7.1% | ر.ق28.70 | ر.ق22.70 | ر.ق16.06 | 10 |
| May ’23 | ر.ق23.25 | ر.ق26.45 +13.8% | 7.1% | ر.ق28.70 | ر.ق22.70 | ر.ق15.65 | 10 |
| Apr ’23 | ر.ق23.07 | ر.ق24.63 +6.8% | 6.1% | ر.ق28.00 | ر.ق22.60 | ر.ق16.07 | 10 |
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.