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Qualitas Limited (AU:QAL)
ASX:QAL
Australian Market
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Qualitas Limited (QAL) AI Stock Analysis

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AU:QAL

Qualitas Limited

(Sydney:QAL)

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Neutral 67 (OpenAI - 4o)
Rating:67Neutral
Price Target:
AU$4.00
▲(5.26% Upside)
Qualitas Limited shows strong financial performance with robust profitability and improved leverage. Positive technical indicators suggest bullish momentum. However, the high P/E ratio indicates a potentially overvalued stock, and liquidity challenges could pose risks.

Qualitas Limited (QAL) vs. iShares MSCI Australia ETF (EWA)

Qualitas Limited Business Overview & Revenue Model

Company DescriptionQualitas Limited (QAL) is a diversified investment company focused on providing high-quality real estate and infrastructure solutions. Operating primarily in the sectors of property investment, development, and management, QAL specializes in creating value through strategic acquisitions and enhancements of its assets. The company offers a range of services including property management, asset development, and advisory services, catering to both institutional and retail investors.
How the Company Makes MoneyQualitas Limited generates revenue through multiple streams, primarily from its property investment and management activities. The company earns income through rental yields from its real estate portfolio, which includes commercial, residential, and industrial properties. Additionally, QAL profits from development projects by selling newly developed properties or through fees associated with project management. The company also engages in capital raising activities, securing funds from investors for specific projects, which provides further revenue opportunities. Significant partnerships with institutional investors and joint ventures enhance its funding capabilities and broaden its investment reach, contributing to overall earnings.

Qualitas Limited Financial Statement Overview

Summary
Qualitas Limited demonstrates strong revenue growth and profitability with impressive margins. The company has improved its leverage, enhancing financial stability. However, the decline in free cash flow growth and lower cash conversion ratios highlight potential liquidity challenges.
Income Statement
75
Positive
Qualitas Limited has shown a strong revenue growth rate of 8.25% in the latest year, with a solid gross profit margin of 90.06% and a net profit margin of 28.46%. The EBIT and EBITDA margins are also robust at 47.15% and 48.33%, respectively. These figures indicate strong profitability and efficient cost management. However, the slight decline in gross profit margin from the previous year suggests potential pressure on cost control.
Balance Sheet
68
Positive
The company has improved its debt-to-equity ratio to 0.14, indicating a significant reduction in leverage compared to previous years. The return on equity (ROE) of 8.78% reflects moderate profitability relative to shareholder equity. The equity ratio stands at 78.95%, showcasing a strong equity position. However, the historical high leverage levels pose a potential risk if not managed carefully.
Cash Flow
60
Neutral
Qualitas Limited experienced a significant decline in free cash flow growth, with a negative rate of -226.56%. The operating cash flow to net income ratio is 0.49, indicating that cash generation from operations is less than net income, which could be a concern for liquidity. The free cash flow to net income ratio of 0.74 suggests that a substantial portion of earnings is being converted into free cash flow, although this has decreased from previous years.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue117.40M117.40M103.38M94.13M47.32M70.88M
Gross Profit117.22M105.73M102.31M71.13M39.60M56.04M
EBITDA56.74M56.74M59.93M54.10M14.37M17.08M
Net Income33.41M33.41M26.18M22.54M12.12M10.97M
Balance Sheet
Total Assets481.75M481.75M708.13M742.79M812.76M815.87M
Cash, Cash Equivalents and Short-Term Investments148.78M148.78M196.50M192.37M309.01M308.63M
Total Debt54.05M54.05M295.29M340.74M416.49M453.40M
Total Liabilities101.38M101.38M341.12M380.74M458.20M479.46M
Stockholders Equity380.37M380.37M367.01M362.06M354.57M336.42M
Cash Flow
Free Cash Flow15.83M15.83M72.06M-23.36M38.52M6.51M
Operating Cash Flow21.48M21.48M72.39M-22.89M38.85M6.57M
Investing Cash Flow-17.11M-17.11M-333.00K-467.00K9.47M11.61M
Financing Cash Flow-49.96M-49.96M-70.05M-93.28M260.69M-30.61M

Qualitas Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price3.80
Price Trends
50DMA
3.53
Positive
100DMA
3.50
Positive
200DMA
3.02
Positive
Market Momentum
MACD
0.07
Negative
RSI
60.76
Neutral
STOCH
48.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:QAL, the sentiment is Positive. The current price of 3.8 is above the 20-day moving average (MA) of 3.65, above the 50-day MA of 3.53, and above the 200-day MA of 3.02, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 60.76 is Neutral, neither overbought nor oversold. The STOCH value of 48.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:QAL.

Qualitas Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
69
Neutral
AU$746.97M15.0410.13%3.28%14.95%18.79%
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
67
Neutral
AU$1.10B31.998.94%2.63%12.50%27.40%
65
Neutral
AU$1.93B23.375.59%5.75%38.64%-21.14%
57
Neutral
AU$1.05B39.201.70%7.20%4.69%
56
Neutral
AU$1.22B-20.76-9.33%6.52%-5.64%89.16%
53
Neutral
AU$695.90M-35.20-1.91%8.52%-4.50%88.28%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:QAL
Qualitas Limited
3.80
1.08
39.86%
AU:COF
Centuria Office REIT
1.19
0.10
9.62%
AU:CMW
Cromwell Property Group
0.46
0.10
27.42%
AU:CWP
Cedar Woods Properties Limited
8.84
3.25
58.17%
AU:CNI
Centuria Capital Group
2.29
0.60
35.34%
AU:ABG
Abacus Property Group
1.18
0.05
4.15%

Qualitas Limited Corporate Events

Qualitas Limited Announces Director’s Share Disposal
Oct 21, 2025

Qualitas Limited announced a change in the director’s interest, specifically involving Andrew Schwartz, who disposed of 15,100,000 ordinary shares. This off-market sale, valued at $3.51 per share, reflects a significant adjustment in Schwartz’s holdings, potentially impacting investor perceptions and the company’s market positioning.

The most recent analyst rating on (AU:QAL) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Announces 2025 AGM Details
Oct 20, 2025

Qualitas Limited has released its 2025 Annual General Meeting Notice, including a proxy form and a virtual AGM guide. This announcement underscores the company’s commitment to transparent communication with its stakeholders, reflecting its strategic focus on maintaining strong investor relations. The AGM serves as a platform for discussing the company’s performance and future plans, reinforcing its position in the real estate investment sector.

The most recent analyst rating on (AU:QAL) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Releases 2025 Annual Report Highlighting Strategic Growth
Oct 20, 2025

Qualitas Limited has released its 2025 Annual Report, highlighting its continued growth and strategic positioning in the real estate investment sector. The company emphasizes its broad platform and diverse investment solutions as key drivers for accelerating business growth and enhancing shareholder performance.

The most recent analyst rating on (AU:QAL) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Co-Founder Sells Shares, Boosting Global Investor Confidence
Oct 19, 2025

Qualitas Limited announced that Andrew Schwartz, the Group Managing Director and Co-Founder, sold 15.1 million shares to a large global listed equities manager, reducing his holding to 19% of the company’s issued capital. This transaction, marking Schwartz’s first sale since the company’s IPO, reflects confidence in Qualitas’ growth trajectory and enhances its profile among global investors. The company continues to see strong momentum in its credit and equity strategies, with a growing pipeline of investments and increased investor interest, positioning it well for future growth.

The most recent analyst rating on (AU:QAL) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Announces Cessation of Securities
Oct 14, 2025

Qualitas Limited has announced the cessation of certain securities, specifically 15,000 share rights canceled by agreement and 5,000 share rights that lapsed due to unmet conditions. This announcement indicates a reduction in the company’s issued capital, which may affect its market positioning and stakeholder interests.

The most recent analyst rating on (AU:QAL) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Director Acquires 40,000 Shares
Sep 25, 2025

Qualitas Limited has announced a change in the director’s interest notice involving Bruce Ian MacDiarmid. The company disclosed that MacDiarmid has acquired 40,000 ordinary shares at $3.30 per share through an on-market acquisition, marking his indirect interest in the company via the Northwood Superannuation Fund. This acquisition reflects a strategic move by the director, potentially signaling confidence in the company’s future prospects and could influence investor perception and stakeholder confidence.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$3.98 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Issues New Employee Incentive Options
Sep 18, 2025

Qualitas Limited has announced the issuance of 1,455,000 options to acquire ordinary shares in the company. These securities are part of an employee incentive scheme and are not intended to be quoted on the ASX. This move could potentially enhance employee engagement and align their interests with the company’s growth objectives.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$4.26 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Announces 2025 Hybrid AGM
Sep 18, 2025

Qualitas Limited has announced that its 2025 Annual General Meeting will be held on November 19, 2025, as a hybrid event. The meeting will provide an opportunity for stakeholders to engage with the company’s strategic direction and governance. The announcement underscores Qualitas’ commitment to transparency and stakeholder engagement, reflecting its ongoing efforts to align with market expectations and regulatory requirements.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$4.26 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Announces Director’s Share Acquisition
Sep 4, 2025

Qualitas Limited has announced a change in the director’s interest, specifically involving Andrew Fairley AM. The change pertains to the acquisition of 2,342 ordinary shares in the company, which were acquired on-market as part of the director’s 2025 fee. This adjustment in shareholding reflects the company’s internal policy requiring directors to notify changes in their holdings. The acquisition signifies a strategic move to align director compensation with company performance, potentially impacting investor confidence and stakeholder perceptions.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Director Increases Shareholding
Sep 4, 2025

Qualitas Limited has announced a change in the director’s interest, specifically regarding Mary Ploughman, who has acquired an additional 1,394 ordinary shares in the company. This acquisition was made through an on-market purchase as part of her 2025 director’s fee, bringing her total shareholding to 54,311 ordinary shares. This change reflects the company’s ongoing commitment to aligning director interests with shareholder value, potentially impacting investor confidence and market perception positively.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Announces Cessation of Share Rights
Sep 1, 2025

Qualitas Limited has announced the cessation of certain securities, specifically 296,991 share rights, due to the lapse of conditional rights that were not satisfied. This cessation may impact the company’s issued capital and could have implications on its market operations and stakeholder interests.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Announces Director’s Interest Change
Sep 1, 2025

Qualitas Limited has announced a change in the director’s interest, specifically involving Andrew Schwartz. The update reveals the forfeiture of 586,873 FY23 Loan Shares previously held by Schwartz, which were acquired in December 2022. This change reflects the company’s adherence to internal policies requiring directors to notify changes in their holdings, potentially impacting investor perception and the company’s governance transparency.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Releases FY25 Results and Announces Market Briefing
Aug 21, 2025

Qualitas Limited has released its FY25 Results Presentation and will hold a market briefing on August 22, 2025. The company continues to leverage its broad platform and industry expertise to drive growth and performance, offering unique investment opportunities in real estate private credit and equity.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Reports Record Growth in FY25 Financial Results
Aug 21, 2025

Qualitas Limited reported strong financial results for the fiscal year ending June 2025, with significant growth in funds management revenue and principal income. The company achieved record annual growth in base management fees and funds management EBITDA margin, reflecting its robust business model and strategic deployment of capital. The company’s performance is bolstered by its ability to leverage opportunities in the Australian market, particularly in the commercial real estate sector, and its strategic positioning to benefit from the reallocation of private credit capital into the APAC region.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Announces New Dividend Distribution
Aug 21, 2025

Qualitas Limited has announced a new dividend distribution for its ordinary fully paid securities, with a distribution amount of AUD 0.075 per share. The dividend relates to the financial period ending on June 30, 2025, with an ex-date of September 4, 2025, a record date of September 5, 2025, and a payment date of September 19, 2025. This announcement reflects the company’s ongoing commitment to returning value to its shareholders and may positively impact investor sentiment.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Releases Full Year 2025 Financial Report
Aug 21, 2025

Qualitas Limited has released its Appendix 4E and Full Year 2025 Financial Report, marking the end of its fiscal year on June 30, 2025. The company continues to leverage its broad platform and industry expertise to drive business growth and performance, maintaining a strong focus on real estate investments. This announcement underscores Qualitas’ commitment to providing flexible capital solutions and enhancing shareholder value through strategic investments in diverse real estate sectors.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$4.00 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Qualitas Limited Announces 2025 Full Year Results Briefing
Aug 5, 2025

Qualitas Limited has announced a market briefing for its 2025 Full Year Results, scheduled for August 22, 2025. The briefing will be accessible via webcast and teleconference, providing investors and analysts with insights into the company’s performance. This announcement is part of Qualitas’s ongoing efforts to engage with stakeholders and provide transparency about its operations and financial health.

The most recent analyst rating on (AU:QAL) stock is a Buy with a A$3.75 price target. To see the full list of analyst forecasts on Qualitas Limited stock, see the AU:QAL Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 29, 2025