Qatar Navigation Q.P.S.C Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: QNNS (QAR11.06) is trading below our estimate of fair value (QAR17.07)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for QNNS. This is calculated by dividing QNNS's market cap by their current earnings.
What is QNNS's PE Ratio?
PE Ratio	11.7x
Earnings	ر.ق1.08b
Market Cap	ر.ق12.57b

QNNS 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	4.2x
Enterprise Value/EBITDA	14.9x
PEG Ratio	0.8x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for QNNS 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	10x
VAPORES Compañía Sud Americana de Vapores	13.9x	24.7%	CL$2.7t
603565 Shanghai Zhonggu Logistics	11.6x	8.3%	CN¥18.9b
GWCS Gulf Warehousing Company Q.P.S.C	9.7x	11.7%	ر.ق1.9b
WAWI Wallenius Wilhelmsen	4.7x	7.8%	NOK 46.4b
QNNS Qatar Navigation Q.P.S.C	11.7x	14.0%	ر.ق12.6b

Price-To-Earnings vs Peers: QNNS is expensive based on its Price-To-Earnings Ratio (11.7x) compared to the peer average (10x).

Price to Earnings Ratio vs Industry

How does QNNS's PE Ratio compare vs other companies in the Asian Shipping Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: QNNS is expensive based on its Price-To-Earnings Ratio (11.7x) compared to the Asian Shipping industry average (10x).

Price to Earnings Ratio vs Fair Ratio

What is QNNS'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.

QNNS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	11.7x
Fair PE Ratio	12.8x

Price-To-Earnings vs Fair Ratio: QNNS is good value based on its Price-To-Earnings Ratio (11.7x) compared to the estimated Fair Price-To-Earnings Ratio (12.8x).

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 QNNS 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.ق11.06	ر.ق12.85 +16.2%	3.5%	ر.ق13.30	ر.ق12.40	n/a	2
Nov ’25	ر.ق11.45	ر.ق12.85 +12.2%	3.5%	ر.ق13.30	ر.ق12.40	n/a	2
Oct ’25	ر.ق11.38	ر.ق12.85 +12.9%	3.5%	ر.ق13.30	ر.ق12.40	n/a	2
Sep ’25	ر.ق11.81	ر.ق12.90 +9.2%	2.9%	ر.ق13.30	ر.ق12.40	n/a	3
Aug ’25	ر.ق11.97	ر.ق12.90 +7.8%	2.9%	ر.ق13.30	ر.ق12.40	n/a	3
Jul ’25	ر.ق11.49	ر.ق12.90 +12.3%	2.9%	ر.ق13.30	ر.ق12.40	n/a	3
Jun ’25	ر.ق10.80	ر.ق12.90 +19.4%	2.9%	ر.ق13.30	ر.ق12.40	n/a	3
May ’25	ر.ق10.50	ر.ق13.05 +24.3%	0.4%	ر.ق13.10	ر.ق13.00	n/a	2
Apr ’25	ر.ق10.10	ر.ق12.40 +22.8%	7.4%	ر.ق13.10	ر.ق11.10	n/a	3
Mar ’25	ر.ق11.00	ر.ق12.40 +12.7%	7.4%	ر.ق13.10	ر.ق11.10	n/a	3
Feb ’25	ر.ق10.27	ر.ق12.20 +18.8%	6.1%	ر.ق13.20	ر.ق11.41	n/a	3
Jan ’25	ر.ق9.70	ر.ق11.94 +23.1%	7.5%	ر.ق13.20	ر.ق11.20	n/a	3
Dec ’24	ر.ق9.50	ر.ق11.94 +25.6%	7.5%	ر.ق13.20	ر.ق11.20	n/a	3
Nov ’24	ر.ق9.24	ر.ق11.94 +29.2%	7.5%	ر.ق13.20	ر.ق11.20	ر.ق11.45	3
Oct ’24	ر.ق10.38	ر.ق11.70 +12.7%	4.9%	ر.ق12.50	ر.ق11.20	ر.ق11.38	3
Sep ’24	ر.ق9.58	ر.ق11.70 +22.2%	4.9%	ر.ق12.50	ر.ق11.20	ر.ق11.81	3
Aug ’24	ر.ق10.50	ر.ق11.80 +12.4%	4.5%	ر.ق12.50	ر.ق11.20	ر.ق11.97	3
Jul ’24	ر.ق10.35	ر.ق11.80 +14.0%	4.5%	ر.ق12.50	ر.ق11.20	ر.ق11.49	3
Jun ’24	ر.ق10.20	ر.ق11.80 +15.7%	4.5%	ر.ق12.50	ر.ق11.20	ر.ق10.80	3
May ’24	ر.ق9.53	ر.ق11.40 +19.6%	9.1%	ر.ق12.50	ر.ق10.00	ر.ق10.50	3
Apr ’24	ر.ق8.22	ر.ق11.40 +38.7%	9.1%	ر.ق12.50	ر.ق10.00	ر.ق10.10	3
Mar ’24	ر.ق8.92	ر.ق11.40 +27.8%	9.1%	ر.ق12.50	ر.ق10.00	ر.ق11.00	3
Feb ’24	ر.ق9.57	ر.ق11.25 +17.6%	11.1%	ر.ق12.50	ر.ق10.00	ر.ق10.27	2
Jan ’24	ر.ق10.15	ر.ق11.25 +10.8%	11.1%	ر.ق12.50	ر.ق10.00	ر.ق9.70	2
Dec ’23	ر.ق10.40	ر.ق11.25 +8.2%	11.1%	ر.ق12.50	ر.ق10.00	ر.ق9.50	2
Nov ’23	ر.ق10.13	ر.ق11.25 +11.1%	11.1%	ر.ق12.50	ر.ق10.00	ر.ق9.24	2

Analyst Forecast: Target price is less than 20% higher than the current share price.