Queste Communications Ltd (QUE) AI Stock Analysis

• Market Cap: AU$1.06M
• Dividend Yield: N/A
• Average Volume (3M): 5.39K
• Price to Earnings (P/E): 1.5
• Beta (1Y): -0.28
• Revenue Growth: 387.73%
• EPS Growth: -57.17%
• Country: AU
• Employees: 8
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): >-0.01
• Shares Outstanding: 27,072,332
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 5,387
• PEG Ratio: -0.03
• Price to Book (P/B): 0.34
• Price to Sales (P/S): 5.33
• P/FCF Ratio: 0.42
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: AU$0.04 ▲(2.50% Upside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

The score is supported by a debt-free, improving balance sheet and better recent cash generation, plus a very low P/E. These positives are offset by weak and inconsistent core operating performance (negative EBIT despite positive net income) and bearish technical positioning with an elevated RSI and price below major moving averages.

Positive Factors

Debt-free balance sheet

Zero debt and a materially stronger equity base provide durable financial flexibility. This low-leverage profile reduces solvency risk, enables funding of growth or working capital from internal resources, and gives management optionality for acquisitions or weathering downturns.

Improved operating cash generation

Sustained positive operating and free cash flow in 2024–2025 indicates the company can convert revenue into real cash. That strengthens the ability to fund operations, capex, or returns without external financing and supports longer-term viability despite past volatility.

Revenue rebound in 2025

A strong revenue recovery suggests renewed market demand or successful execution on sales initiatives. If sustained, higher top-line can leverage existing cost base to improve margins and support reinvestment, making operating performance more scalable over the medium term.

Negative Factors

Persistent negative operating profit (EBIT)

Consistent negative EBIT shows the core business is not generating operating profits. That undermines sustainability of earnings because accounting net income may reflect non-operating gains. Without structural improvements to operations, cash generation could reverse if non-operating items cease.

Earnings quality and volatility

High variability in margins and reliance on non-operating items reduce predictability of future earnings and cash flow. This complicates planning and capital allocation, and makes it harder to rely on recent profits as a baseline for dividend policy or reinvestment decisions.

Very small scale and limited market liquidity

A tiny workforce and extremely low trading volume reflect constrained operational scale and limited public liquidity. Small scale can limit commercial reach and execution capacity, while low liquidity restricts institutional participation and raises risk around financing, investor access, and strategic transactions.

Queste Communications Ltd Business Overview & Revenue Model

Company Description

Queste Communications Ltd, through its subsidiary, Orion Equities Limited manages its investments in Australia. It invests in listed and unlisted securities; and develops and resales real estate properties. The company was incorporated in 1998 and is based in West Perth, Australia.

How the Company Makes Money

Queste Communications Ltd makes money through its strategic investments in various businesses. The company generates revenue through capital gains realized from the sale of its investments, dividends received from its portfolio companies, and management fees where applicable. Additionally, Queste Communications Ltd may engage in partnerships or joint ventures that enhance its investment portfolio and contribute to its earnings. The company's financial performance is significantly influenced by market conditions, the performance of its investments, and its ability to effectively manage and grow its portfolio.

Queste Communications Ltd Financial Statement Overview

Summary

Strong balance sheet with zero debt and improving equity supports financial flexibility. Recent operating cash flow and free cash flow are solid in 2024–2025, but revenue is highly volatile and EBIT remains negative in most periods (including 2024–2025), implying weaker core operating performance and potential reliance on non-operating items.

Income Statement

Revenue is volatile but rebounded strongly in 2025 (up 61% YoY), following a sharp drop in 2024. Profitability looks optically strong on net income (positive in 2024–2025 with very high net margins), but underlying operations are weaker: EBIT is negative in most years (including 2024–2025), pointing to earnings that are likely driven by non-operating items rather than core performance. Gross margin is consistently high, but the lack of consistent operating profitability reduces quality and repeatability of earnings.

Balance Sheet

The balance sheet is conservatively positioned with zero debt across all reported periods and a solid equity base. Equity increased materially from 2023 to 2025, supporting financial flexibility. Return on equity is highly erratic (very strong in 2024, more moderate in 2025, negative in some earlier years), which signals inconsistent earnings power, but leverage risk is low given the debt-free structure.

Cash Flow

Cash generation improved meaningfully in 2024–2025, with strong positive operating cash flow and free cash flow in both years. Cash flow also compares favorably to reported net income in 2024–2025 (free cash flow roughly matches net income), supporting earnings conversion in the most recent periods. However, cash flow was negative in 2020–2022 and free cash flow fell in 2025 versus 2024, highlighting variability and a less stable cash profile over the full history.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	208.37K	208.37K	42.72K	245.47K	37.70K	267.73K
Gross Profit	208.37K	208.37K	32.17K	234.36K	27.98K	256.61K
EBITDA	-309.75K	-309.75K	-500.00K	112.34K	-1.73M	4.61M
Net Income	718.65K	718.65K	1.68M	-502.19K	-2.61M	3.14M
Balance Sheet
Total Assets	6.53M	6.53M	6.71M	2.60M	3.44M	7.66M
Cash, Cash Equivalents and Short-Term Investments	4.13M	4.13M	1.86M	748.18K	1.12M	2.86M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	594.57K	594.57K	2.03M	801.79K	787.28K	824.31K
Stockholders Equity	3.30M	3.30M	2.01M	897.39K	1.40M	4.01M
Cash Flow
Free Cash Flow	2.67M	2.67M	1.31M	125.26K	-188.69K	-140.53K
Operating Cash Flow	2.67M	2.67M	1.31M	125.26K	-188.69K	-140.06K
Investing Cash Flow	-1.12K	-1.12K	0.00	0.00	0.00	-465.00
Financing Cash Flow	0.00	0.00	0.00	-135.00	0.00	0.00

Queste Communications Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.04
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:QUE, the sentiment is Negative. The current price of 0.04 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.05, and below the 200-day MA of 0.05, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 7.89 is Positive, neither overbought nor oversold. The STOCH value of 3.03 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:QUE.

Queste Communications Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
PVL	64 Neutral	AU$21.80M	5.24	4.65%	―	101.80%	355.88%
QUE	61 Neutral	AU$1.06M	1.54	21.90%	―	387.73%	-57.17%
BPH	56 Neutral	AU$9.48M	-3.13	-3.15%	―	―	29.55%
IPC	54 Neutral	AU$10.87M	18.32	1.82%	3.50%	-50.00%	-52.07%
SOR	44 Neutral	AU$17.36M	-5.68	-62.19%	―	66.69%	5.17%
KBC	43 Neutral	AU$9.72M	-1.31	91.73%	―	―	―

Queste Communications Ltd Corporate Events

Queste Communications lodges half-year report for 31 December 2025

Queste Communications has released its half-year report for the period ended 31 December 2025, providing investors with updated financial statements, directors’ commentary, and an independent review report. The document, intended to be read alongside the company’s June 2025 annual report, focuses on the group’s consolidated profit and loss, financial position, cash flows, and changes in equity, reinforcing regular disclosure and governance practices for shareholders.

The report also details the company’s corporate structure, including its board, auditors, and share registry arrangements, underlining the formal framework supporting its listed status on the Australian Securities Exchange. While the release centers on statutory reporting rather than new strategic initiatives, it maintains transparency for stakeholders and ensures ongoing compliance with ASX reporting obligations.

The most recent analyst rating on (AU:QUE) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Queste Communications Ltd stock, see the AU:QUE Stock Forecast page.

Queste Communications posts stable cash position in January as operating activity remains subdued

Queste Communications has reported its monthly cash flow for January 2026, showing modest positive operating cash flow at the company level and stable consolidated cash reserves. The group ended the month with $3.988 million in consolidated cash and equivalents, supported by income from an iron-ore royalty termination and shared office cost recoveries.

Operating cash flows remained slightly negative on a year-to-date consolidated basis, reflecting ongoing staff and corporate expenses, though financing activity included prior-period borrowings and repayments. The latest figures indicate that while underlying operating activity is limited, Queste and its controlled entity maintain a solid liquidity position, which provides flexibility for future investment or corporate initiatives.

The most recent analyst rating on (AU:QUE) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Queste Communications Ltd stock, see the AU:QUE Stock Forecast page.

Queste Communications Maintains Lean Operations as Investment Portfolio Holds Steady

Queste Communications reported that its activities for the quarter to 31 December 2025 were focused on managing its investment holdings, notably its unchanged 59.86% controlling interest in Orion Equities and a 1.61% stake in Bentley Capital, giving its portfolio a combined market value of about $1.62 million at period end. The consolidated group, driven largely by Orion’s investment and real estate operations, recorded modest operating expenditure of $189,000, with a significant portion of staff costs recovered under shared office arrangements, underscoring a lean cost structure and a continued emphasis on capital management rather than new operating initiatives, while Orion continued to provide regular NTA disclosures to the market.

The most recent analyst rating on (AU:QUE) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Queste Communications Ltd stock, see the AU:QUE Stock Forecast page.

Queste Communications Posts Modest Operating Inflow and Maintains Strong Cash Position in December

Queste Communications Ltd has reported its monthly cash flow for December 2025, showing a modest net cash inflow from operating activities at the company level and stable consolidated cash reserves. Company-level operating cash flow turned slightly positive, aided by recovery of staff costs under shared office arrangements, while staff and corporate administration expenses remained the main cash outflows. On a consolidated basis, including Orion Equities, the group sustained strong cash and cash equivalents of about A$4.0 million at month-end, with minimal investing activity and limited financing movements, indicating a conservatively positioned balance sheet and stable liquidity for stakeholders.

The most recent analyst rating on (AU:QUE) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Queste Communications Ltd stock, see the AU:QUE Stock Forecast page.