QRF COMM VA (QRF.BR) Stock Fundamental Analysis
EBR:QRF - Euronext Brussels - BE0974272040 - REIT - Currency: EUR
We assign a fundamental rating of 6 out of 10 to QRF. QRF was compared to 44 industry peers in the Diversified REITs industry. QRF has an excellent profitability rating, but there are concerns on its financial health. QRF scores decently on growth, while it is valued quite cheap. This could make an interesting combination. Finally QRF also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
QRF had positive earnings in the past year.
QRF had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: QRF reported negative net income in multiple years.
Each year in the past 5 years QRF had a positive operating cash flow.
1.2 Ratios
QRF's Return On Assets of 9.88% is amongst the best of the industry. QRF outperforms 100.00% of its industry peers.
QRF has a better Return On Equity (17.91%) than 100.00% of its industry peers.
QRF has a better Return On Invested Capital (9.61%) than 100.00% of its industry peers.
QRF had an Average Return On Invested Capital over the past 3 years of 4.26%. This is in line with the industry average of 3.64%.
The last Return On Invested Capital (9.61%) for QRF is above the 3 year average (4.26%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.88% | ||
| ROE | 17.91% | ||
| ROIC | 9.61% |
ROA(3y)2.86%
ROA(5y)1.47%
ROE(3y)5.61%
ROE(5y)2.86%
ROIC(3y)4.26%
ROIC(5y)3.85%
1.3 Margins
QRF has a Profit Margin of 117.82%. This is amongst the best in the industry. QRF outperforms 97.73% of its industry peers.
In the last couple of years the Profit Margin of QRF has grown nicely.
QRF's Operating Margin of 128.96% is amongst the best of the industry. QRF outperforms 100.00% of its industry peers.
QRF's Operating Margin has improved in the last couple of years.
QRF has a Gross Margin of 88.06%. This is in the better half of the industry: QRF outperforms 79.55% of its industry peers.
QRF's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 128.96% | ||
| PM (TTM) | 117.82% | ||
| GM | 88.06% |
OM growth 3Y13.86%
OM growth 5Y8.3%
PM growth 3Y63.42%
PM growth 5YN/A
GM growth 3Y-1.92%
GM growth 5Y-0.5%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), QRF is creating value.
QRF has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, QRF has more shares outstanding
QRF has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 0.50, we must say that QRF is in the distress zone and has some risk of bankruptcy.
QRF's Altman-Z score of 0.50 is on the low side compared to the rest of the industry. QRF is outperformed by 81.82% of its industry peers.
QRF has a debt to FCF ratio of 9.79. This is a negative value and a sign of low solvency as QRF would need 9.79 years to pay back of all of its debts.
The Debt to FCF ratio of QRF (9.79) is better than 79.55% of its industry peers.
A Debt/Equity ratio of 0.52 indicates that QRF is somewhat dependend on debt financing.
The Debt to Equity ratio of QRF (0.52) is better than 84.09% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 9.79 | ||
| Altman-Z | 0.5 |
ROIC/WACC2.21
WACC4.36%
2.3 Liquidity
A Current Ratio of 0.07 indicates that QRF may have some problems paying its short term obligations.
QRF has a Current ratio of 0.07. This is amonst the worse of the industry: QRF underperforms 90.91% of its industry peers.
QRF has a Quick Ratio of 0.07. This is a bad value and indicates that QRF is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.07, QRF is doing worse than 90.91% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.07 | ||
| Quick Ratio | 0.07 |
3. Growth
3.1 Past
QRF shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 979.06%, which is quite impressive.
QRF shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 64.17% yearly.
The Revenue has grown by 32.61% in the past year. This is a very strong growth!
QRF shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -3.85% yearly.
EPS 1Y (TTM)979.06%
EPS 3Y64.17%
EPS 5YN/A
EPS Q2Q%140020%
Revenue 1Y (TTM)32.61%
Revenue growth 3Y2.47%
Revenue growth 5Y-3.85%
Sales Q2Q%78.3%
3.2 Future
Based on estimates for the next years, QRF will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.58% on average per year.
The Revenue is expected to grow by 3.35% on average over the next years.
EPS Next Y3.95%
EPS Next 2Y3.24%
EPS Next 3Y9.58%
EPS Next 5YN/A
Revenue Next Year0.83%
Revenue Next 2Y1.64%
Revenue Next 3Y3.35%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 3.59, the valuation of QRF can be described as very cheap.
Based on the Price/Earnings ratio, QRF is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 26.25. QRF is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 8.52, which indicates a very decent valuation of QRF.
88.64% of the companies in the same industry are more expensive than QRF, based on the Price/Forward Earnings ratio.
QRF is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.15, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.59 | ||
| Fwd PE | 8.52 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, QRF is valued cheaper than 100.00% of the companies in the same industry.
86.36% of the companies in the same industry are more expensive than QRF, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.31 | ||
| EV/EBITDA | 7.18 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The excellent profitability rating of QRF may justify a higher PE ratio.
PEG (NY)0.91
PEG (5Y)N/A
EPS Next 2Y3.24%
EPS Next 3Y9.58%
5. Dividend
5.1 Amount
QRF has a Yearly Dividend Yield of 5.47%, which is a nice return.
QRF's Dividend Yield is comparable with the industry average which is at 6.80.
Compared to an average S&P500 Dividend Yield of 2.40, QRF pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.47% |
5.2 History
The dividend of QRF has a limited annual growth rate of 2.50%.
Dividend Growth(5Y)2.5%
Div Incr Years0
Div Non Decr Years5
5.3 Sustainability
28.20% of the earnings are spent on dividend by QRF. This is a low number and sustainable payout ratio.
The dividend of QRF is growing, but earnings are growing more, so the dividend growth is sustainable.
DP28.2%
EPS Next 2Y3.24%
EPS Next 3Y9.58%
EBR:QRF (5/30/2025, 7:00:00 PM)
10.2
-0.2 (-1.92%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners14.11%
Inst Owner ChangeN/A
Ins Owners6.19%
Ins Owner ChangeN/A
Market Cap79.56M
Analysts80
Price Target12.75 (25%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.47% |
Yearly Dividend0.8
Dividend Growth(5Y)2.5%
DP28.2%
Div Incr Years0
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.74%
Revenue NY rev (3m)-0.74%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.59 | ||
| Fwd PE | 8.52 | ||
| P/S | 4.24 | ||
| P/FCF | 8.31 | ||
| P/OCF | 7.98 | ||
| P/B | 0.64 | ||
| P/tB | 0.64 | ||
| EV/EBITDA | 7.18 |
EPS(TTM)2.84
EY27.84%
EPS(NY)1.2
Fwd EY11.73%
FCF(TTM)1.23
FCFY12.03%
OCF(TTM)1.28
OCFY12.53%
SpS2.41
BVpS15.84
TBVpS15.84
PEG (NY)0.91
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.88% | ||
| ROE | 17.91% | ||
| ROCE | 12.82% | ||
| ROIC | 9.61% | ||
| ROICexc | 9.64% | ||
| ROICexgc | 9.64% | ||
| OM | 128.96% | ||
| PM (TTM) | 117.82% | ||
| GM | 88.06% | ||
| FCFM | 50.96% |
ROA(3y)2.86%
ROA(5y)1.47%
ROE(3y)5.61%
ROE(5y)2.86%
ROIC(3y)4.26%
ROIC(5y)3.85%
ROICexc(3y)4.29%
ROICexc(5y)3.89%
ROICexgc(3y)4.29%
ROICexgc(5y)3.89%
ROCE(3y)5.68%
ROCE(5y)5.14%
ROICexcg growth 3Y16.23%
ROICexcg growth 5Y6.99%
ROICexc growth 3Y16.24%
ROICexc growth 5Y6.99%
OM growth 3Y13.86%
OM growth 5Y8.3%
PM growth 3Y63.42%
PM growth 5YN/A
GM growth 3Y-1.92%
GM growth 5Y-0.5%
F-Score5
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 9.79 | ||
| Debt/EBITDA | 2.64 | ||
| Cap/Depr | 1064.86% | ||
| Cap/Sales | 2.1% | ||
| Interest Coverage | 8.54 | ||
| Cash Conversion | 41.08% | ||
| Profit Quality | 43.25% | ||
| Current Ratio | 0.07 | ||
| Quick Ratio | 0.07 | ||
| Altman-Z | 0.5 |
F-Score5
WACC4.36%
ROIC/WACC2.21
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)979.06%
EPS 3Y64.17%
EPS 5YN/A
EPS Q2Q%140020%
EPS Next Y3.95%
EPS Next 2Y3.24%
EPS Next 3Y9.58%
EPS Next 5YN/A
Revenue 1Y (TTM)32.61%
Revenue growth 3Y2.47%
Revenue growth 5Y-3.85%
Sales Q2Q%78.3%
Revenue Next Year0.83%
Revenue Next 2Y1.64%
Revenue Next 3Y3.35%
Revenue Next 5YN/A
EBIT growth 1Y110.11%
EBIT growth 3Y16.67%
EBIT growth 5Y4.14%
EBIT Next Year2.9%
EBIT Next 3Y4.75%
EBIT Next 5YN/A
FCF growth 1Y-13.19%
FCF growth 3Y3.11%
FCF growth 5Y1.23%
OCF growth 1Y-9.61%
OCF growth 3Y4.18%
OCF growth 5Y2.05%