Qualitas Limited (AU:QAL)
ASX:QAL
Want to see AU:QAL full AI Analyst Report?
Top Page
Qualitas Limited
(Sydney:QAL)
Select Model
Select Model
Rating:63Neutral
Price Target:
AU$3.00
▼(-1.96% Downside)
Action:Reiterated
Date:03/24/26
The score is driven by strong profitability and improved leverage, supported by reasonable valuation and dividend yield. These positives are offset by weak technical momentum (downtrend across moving averages with negative MACD) and inconsistent cash flow generation.
Positive Factors
Fee-based business model
A diversified fee mix (management, performance, origination) plus co-investment income creates recurring, scalable revenue tied to AUM growth. This business model aligns incentives with investors and supports durable cashflows and margin scalability as assets under management increase.
Negative Factors
Volatile cash generation
Irregular free cash flow undermines predictability of distributions, reinvestment and buffer for credit losses. For an asset manager, volatile cash conversion complicates capital allocation and may force reliance on external funding or reduce capacity to co-invest during weaker years.
Read all positive and negative factors
Positive Factors
Negative Factors
Fee-based business model
A diversified fee mix (management, performance, origination) plus co-investment income creates recurring, scalable revenue tied to AUM growth. This business model aligns incentives with investors and supports durable cashflows and margin scalability as assets under management increase.
Read all positive factors
Qualitas Limited (QAL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$880.16M
Dividend Yield2.65%
Average Volume (3M)840.09K
Price to Earnings (P/E)12.7
Beta (1Y)1.00
Revenue Growth11.84%
EPS Growth26.57%
CountryAU
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.13
Shares Outstanding301,424,530
10 Day Avg. Volume1,774,237
30 Day Avg. Volume840,086
Financial Highlights & Ratios
PEG Ratio1.39
Price to Book (P/B)2.72
Price to Sales (P/S)8.81
P/FCF Ratio65.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$3.82Price Target Upside24.84% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.15
Revenue Forecast (FY)AU$134.80M
Qualitas Limited Business Overview & Revenue Model
Company Description
Qualitas is a real estate investment firm which focuses on direct investment in all real estate classes and geographies, acquisitions and restructuring of distressed debt, third party capital raisings and consulting services. It seeks to provide b...
How the Company Makes Money
QAL makes money primarily by managing real estate credit investment products and earning fees tied to funds and mandates it manages. Its key revenue streams generally comprise: (1) management fees charged on assets under management (AUM) across it...
Qualitas Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 121.64M | 117.40M | 103.38M | 94.13M | 47.32M | 70.88M |
| Gross Profit | 117.62M | 105.73M | 102.31M | 71.13M | 39.60M | 56.04M |
| EBITDA | 56.32M | 56.74M | 59.93M | 54.10M | 14.37M | 17.08M |
| Net Income | 37.87M | 33.41M | 26.18M | 22.54M | 12.12M | 10.97M |
Balance Sheet | ||||||
| Total Assets | 473.34M | 481.75M | 708.13M | 742.79M | 812.76M | 815.87M |
| Cash, Cash Equivalents and Short-Term Investments | 33.20M | 148.78M | 196.50M | 192.37M | 309.01M | 308.63M |
| Total Debt | 62.34M | 54.05M | 295.29M | 340.74M | 419.72M | 453.40M |
| Total Liabilities | 88.55M | 101.38M | 341.12M | 380.74M | 458.20M | 479.46M |
| Stockholders Equity | 384.80M | 380.37M | 367.01M | 362.06M | 354.57M | 336.42M |
Cash Flow | ||||||
| Free Cash Flow | -49.46M | 15.83M | 72.06M | -23.36M | 38.52M | 6.51M |
| Operating Cash Flow | -44.94M | 21.48M | 72.39M | -22.89M | 38.85M | 6.57M |
| Investing Cash Flow | -4.52M | -17.11M | -333.00K | -467.00K | 9.47M | 11.61M |
| Financing Cash Flow | -22.45M | -49.96M | -70.05M | -93.28M | 260.69M | -30.61M |
Qualitas Limited Technical Analysis
Positive
3.06
Price Trends
2.53
Positive
2.88
Positive
3.23
Negative
Market Momentum
0.11
Negative
71.36
Negative
88.41
Negative
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 3.06 is above the 20-day moving average (MA) of 2.62, above the 50-day MA of 2.53, and below the 200-day MA of 3.23, indicating a neutral trend. The MACD of 0.11 indicates Negative momentum. The RSI at 71.36 is Negative, neither overbought nor oversold. The STOCH value of 88.41 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:QAL.
Qualitas Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | AU$581.92M | 4.51 | 14.27% | 3.32% | 13.87% | 36.54% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | AU$880.16M | 12.66 | 9.90% | 2.65% | 11.84% | 26.57% | |
57 Neutral | AU$907.06M | 5.68 | 0.74% | 7.11% | 4.64% | ― | |
56 Neutral | AU$1.42B | 8.41 | 7.96% | 6.26% | 6.65% | 61.43% | |
54 Neutral | AU$1.09B | 3.08 | 7.18% | 6.12% | 22.59% | ― | |
53 Neutral | AU$540.59M | 2.79 | 6.22% | 8.63% | 3.61% | ― |
* Financial Sector Average
AU:QAL
Qualitas Limited
2.90
0.21
7.73%
AU:COF
Centuria Office REIT
0.91
-0.20
-18.25%
AU:CMW
Cromwell Property Group
0.41
0.07
19.19%
AU:CWP
Cedar Woods Properties Limited
6.80
0.67
10.98%
AU:CNI
Centuria Capital Group
1.73
0.14
8.81%
AU:ABG
Abacus Property Group
1.01
-0.11
-9.95%
Qualitas Limited Corporate Events
Qualitas Showcases $10.9bn Real Estate Platform at Macquarie Conference
May 4, 2026
Qualitas Limited has released the presentation it is delivering at the 2026 Macquarie Australia Conference, highlighting its position as a specialist alternative investment manager. The disclosure underscores the company’s role in matching g...
Qualitas director trims indirect stake in real estate income fund
Apr 29, 2026
Qualitas director Andrew Fairley has reported changes to his relevant interests in securities tied to the group, including units in the Qualitas Real Estate Income Fund held via associated entities. The disclosure, made under ASX listing rules and...
Qualitas Issues New Unquoted Share Rights Under Employee Incentive Scheme
Apr 2, 2026
Qualitas Limited has notified the market of the issue of 586,771 unquoted share rights under its employee incentive scheme, effective 1 April 2026. The new rights, which are not intended to be quoted on the ASX, modestly expand the company’s...
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.