Qatar Aluminium Manufacturing Company Q.P.S.C Valuation

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

QAMC (QAR1.26) is trading below our estimate of [[fair value]] (QAR1.88)

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

Valuation Score

5/6

Valuation Score 5/6

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 QAMC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: QAMC (QAR1.26) is trading below our estimate of fair value (QAR1.88)

Significantly Below Fair Value: QAMC is trading below fair value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for QAMC. This is calculated by dividing QAMC's market cap by their current earnings.
What is QAMC's PE Ratio?
PE Ratio	13.5x
Earnings	ر.ق520.20m
Market Cap	ر.ق7.02b

QAMC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	-2.9x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for QAMC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	13.6x
MPHC Mesaieed Petrochemical Holding Company Q.P.S.C	24x	n/a	ر.ق19.2b
QNCD Qatar National Cement Company (Q.P.S.C.)	13.2x	n/a	ر.ق2.4b
QIGD Qatari Investors Group Q.P.S.C	10.5x	n/a	ر.ق1.9b
CENX Century Aluminum	6.8x	-7.4%	US$2.1b
QAMC Qatar Aluminium Manufacturing Company Q.P.S.C	13.5x	-4.6%	ر.ق7.0b

Price-To-Earnings vs Peers: QAMC is good value based on its Price-To-Earnings Ratio (13.5x) compared to the peer average (13.6x).

Price to Earnings Ratio vs Industry

How does QAMC's PE Ratio compare vs other companies in the Asian Metals and Mining Industry?

30 Companies	Price / Earnings	Estimated Growth	Market Cap

30 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: QAMC is good value based on its Price-To-Earnings Ratio (13.5x) compared to the Asian Metals and Mining industry average (19.5x).

Price to Earnings Ratio vs Fair Ratio

What is QAMC'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.

QAMC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	13.5x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate QAMC's Price-To-Earnings Fair Ratio for valuation analysis.

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 QAMC forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	ر.ق1.26	ر.ق1.54 +22.2%	14.6%	ر.ق1.90	ر.ق1.35	n/a	4
Nov ’25	ر.ق1.28	ر.ق1.54 +19.8%	14.6%	ر.ق1.90	ر.ق1.35	n/a	4
Oct ’25	ر.ق1.31	ر.ق1.64 +24.9%	12.7%	ر.ق1.90	ر.ق1.35	n/a	4
Sep ’25	ر.ق1.28	ر.ق1.64 +28.1%	12.7%	ر.ق1.90	ر.ق1.35	n/a	4
Aug ’25	ر.ق1.29	ر.ق1.64 +27.0%	12.7%	ر.ق1.90	ر.ق1.35	n/a	4
Jul ’25	ر.ق1.34	ر.ق1.61 +20.6%	12.3%	ر.ق1.90	ر.ق1.35	n/a	4
Jun ’25	ر.ق1.35	ر.ق1.61 +19.4%	12.3%	ر.ق1.90	ر.ق1.35	n/a	4
May ’25	ر.ق1.39	ر.ق1.52 +9.5%	8.2%	ر.ق1.65	ر.ق1.35	n/a	3
Apr ’25	ر.ق1.31	ر.ق1.52 +15.8%	8.2%	ر.ق1.65	ر.ق1.35	n/a	3
Mar ’25	ر.ق1.27	ر.ق1.52 +19.3%	8.2%	ر.ق1.65	ر.ق1.35	n/a	3
Feb ’25	ر.ق1.28	ر.ق1.50 +17.0%	7.2%	ر.ق1.60	ر.ق1.35	n/a	3
Jan ’25	ر.ق1.40	ر.ق1.50 +7.1%	7.2%	ر.ق1.60	ر.ق1.35	n/a	3
Dec ’24	ر.ق1.26	ر.ق1.53 +21.4%	8.6%	ر.ق1.65	ر.ق1.35	n/a	3
Nov ’24	ر.ق1.23	ر.ق1.53 +24.5%	8.6%	ر.ق1.65	ر.ق1.35	ر.ق1.28	3
Oct ’24	ر.ق1.42	ر.ق1.61 +13.1%	9.6%	ر.ق1.77	ر.ق1.40	ر.ق1.31	3
Sep ’24	ر.ق1.34	ر.ق1.61 +20.3%	9.6%	ر.ق1.77	ر.ق1.40	ر.ق1.28	3
Aug ’24	ر.ق1.39	ر.ق1.61 +15.9%	9.6%	ر.ق1.77	ر.ق1.40	ر.ق1.29	3
Jul ’24	ر.ق1.27	ر.ق1.61 +26.5%	9.6%	ر.ق1.77	ر.ق1.40	ر.ق1.34	3
Jun ’24	ر.ق1.53	ر.ق1.64 +7.3%	6.7%	ر.ق1.77	ر.ق1.50	ر.ق1.35	3
May ’24	ر.ق1.62	ر.ق1.64 +1.2%	6.7%	ر.ق1.77	ر.ق1.50	ر.ق1.39	3
Apr ’24	ر.ق1.54	ر.ق1.64 +6.8%	6.7%	ر.ق1.77	ر.ق1.50	ر.ق1.31	3
Mar ’24	ر.ق1.72	ر.ق1.64 -4.4%	6.7%	ر.ق1.77	ر.ق1.50	ر.ق1.27	3
Feb ’24	ر.ق1.80	ر.ق1.64 -8.9%	6.7%	ر.ق1.77	ر.ق1.50	ر.ق1.28	3
Jan ’24	ر.ق1.52	ر.ق1.64 +7.6%	8.3%	ر.ق1.77	ر.ق1.50	ر.ق1.40	2

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