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
â–¼(-1.96% Downside)
Action:Reiterated
Date:08/28/26
The score is primarily supported by strong profitability and a significantly improved balance sheet from deleveraging, but is held back by inconsistent cash conversion and negative operating/free cash flow in 2026. Technicals are neutral-to-weak in the near term, while valuation is reasonable with a supportive dividend yield.
Positive Factors
Consistent Revenue Growth
Sustained revenue expansion indicates ongoing business demand and market development. Although growth normalized in 2026, the multi-year upward trend provides a durable foundation for earnings generation and supports operating scale over the next several quarters.
Negative Factors
Inconsistent Cash Conversion
Repeated negative cash flow despite profitability raises questions about earnings quality, working-capital requirements or investment spending. Inconsistent conversion makes forecasting less reliable and could constrain internally funded growth if the pattern persists.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Sustained revenue expansion indicates ongoing business demand and market development. Although growth normalized in 2026, the multi-year upward trend provides a durable foundation for earnings generation and supports operating scale over the next several quarters.
Read all positive factors
Qualitas Limited (QAL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$783.70M
Dividend Yield4.39%
Average Volume (3M)477.55K
Price to Earnings (P/E)17.9
Beta (1Y)1.21
Revenue Growth11.66%
EPS Growth24.32%
CountryAU
Employees80
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.14
Shares Outstanding301,424,530
10 Day Avg. Volume688,075
30 Day Avg. Volume477,552
Financial Highlights & Ratios
PEG Ratio0.80
Price to Book (P/B)2.26
Price to Sales (P/S)6.94
P/FCF Ratio-20.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$4.25Price Target Upside38.89% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.18
Revenue Forecast (FY)AU$158.44M
Qualitas Limited Business Overview & Revenue Model
Company Description
Qualitas functions as a real estate investment firm, primarily concentrating on direct capital deployment across diverse property asset classes and geographical locations. Beyond its core direct investments, the company also engages in the acquisi...
How the Company Makes Money
A detailed, factual explanation of how Qualitas Limited (QAL) makes money cannot be provided from the information available in this request. null...
Qualitas Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
44
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 129.86M | 117.40M | 103.38M | 94.13M | 47.32M |
| Gross Profit | 121.80M | 105.73M | 102.31M | 71.13M | 39.60M |
| EBITDA | 64.03M | 56.74M | 59.93M | 54.10M | 14.37M |
| Net Income | 41.72M | 33.41M | 26.18M | 22.54M | 12.12M |
Balance Sheet | |||||
| Total Assets | 496.22M | 481.75M | 708.13M | 742.79M | 812.76M |
| Cash, Cash Equivalents and Short-Term Investments | 46.23M | 148.78M | 196.50M | 192.37M | 309.01M |
| Total Debt | 52.68M | 54.05M | 295.29M | 340.74M | 419.72M |
| Total Liabilities | 97.72M | 101.38M | 341.12M | 380.74M | 458.20M |
| Stockholders Equity | 398.50M | 380.37M | 367.01M | 362.06M | 354.57M |
Cash Flow | |||||
| Free Cash Flow | -43.39M | 15.83M | 72.06M | -23.36M | 38.52M |
| Operating Cash Flow | -42.73M | 21.48M | 72.39M | -22.89M | 38.85M |
| Investing Cash Flow | -27.71M | -17.11M | -333.00K | -467.00K | 9.47M |
| Financing Cash Flow | -32.26M | -49.96M | -70.05M | -93.28M | 260.69M |
Qualitas Limited Technical Analysis
Negative
3.06
Price Trends
3.03
Negative
2.84
Negative
2.95
Negative
Market Momentum
-0.12
Positive
28.50
Positive
9.04
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:QAL, the sentiment is Negative. The current price of 3.06 is above the 20-day moving average (MA) of 2.96, above the 50-day MA of 3.03, and above the 200-day MA of 2.95, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 28.50 is Positive, neither overbought nor oversold. The STOCH value of 9.04 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$1.20B | 13.29 | 8.54% | 7.51% | 32.49% | -7.74% | |
68 Neutral | AU$962.47M | 13.14 | 7.15% | 7.76% | 11.79% | -14.45% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | AU$783.70M | 17.87 | 10.65% | 4.39% | 11.66% | 24.32% | |
60 Neutral | AU$813.38M | 7.19 | 12.29% | 8.52% | -0.65% | 8.02% | |
56 Neutral | AU$992.02M | 45.25 | 4.22% | 4.20% | 42.16% | -48.90% | |
56 Neutral | AU$1.02B | 7.11 | 12.12% | 14.74% | -3.49% | 7.16% |
* Financial Sector Average
AU:QAL
Qualitas Limited
2.56
-0.71
-21.69%
AU:GCI
Gryphon Capital Income Trust
2.04
0.15
7.77%
AU:PPM
Pepper Money Ltd
1.76
-0.19
-9.88%
AU:MAF
MA Financial Group Limited
5.24
-3.92
-42.81%
AU:LFG
Liberty Financial Group Ltd
3.34
-0.21
-5.94%
AU:QRI
Qualitas Real Estate Income Fund Units
1.52
0.01
0.87%
Qualitas Limited Corporate Events
Qualitas Director Forfeits Performance Shares in Updated ASX Disclosure
Aug 27, 2026
Qualitas Limited has disclosed a change in director Andrew Schwartz’s equity interests, confirming his continued substantial holdings in company shares and units in the Qualitas Real Estate Income Fund through both direct and controlled enti...
Qualitas Reports Lapse of Conditional Share Rights
Aug 27, 2026
Qualitas Limited has notified the market of the cessation of 203,697 share rights, following the lapse of conditional rights that could not be satisfied as at 25 August 2026. The announcement, lodged as an Appendix 3H, reflects an adjustment to th...
Qualitas releases FY26 results presentation and schedules investor briefing
Aug 20, 2026
Qualitas Limited has released its FY26 Results Presentation to the market and scheduled a briefing for its 2026 full-year results, underscoring its ongoing engagement with investors and analysts. The briefing, to be held via webcast and teleconfer...
Qualitas boosts earnings on scaled fund growth and record deployment
Aug 20, 2026
Qualitas reported strong growth for the year to 30 June 2026, with fee-earning funds under management rising 36% to $11.9 billion and funds management revenue up 27%, driven by larger deployments and a higher operating margin. Normalised net profi...
Qualitas Declares Interim Dividend for Half-Year Ended June 2026
Aug 20, 2026
Qualitas Limited has declared a fully franked interim dividend of AUD 0.0775 per ordinary share for the six-month period ended 30 June 2026, reinforcing its commitment to returning capital to investors. The payment timetable sets the ex-dividend d...
Qualitas posts FY26 results and full-year financial report to market
Aug 20, 2026
Qualitas Limited has released its Appendix 4E and Full Year 2026 Financial Report for the year ended 30 June 2026, as authorised by its board of directors. The disclosure package, including the FY26 results announcement and investor presentation, ...
Qualitas sets 2026 results briefing and AGM timetable
Aug 5, 2026
Qualitas Limited has announced key dates for its 2026 financial calendar, including a full-year results briefing on 21 August at 9:30am AEST and an annual general meeting on 13 November at 2:00pm AEDT. The schedule underscores the firm’s int...
Qualitas issues new employee incentive options to support long-term growth
Jul 6, 2026
Qualitas Limited has notified the market of the issue of 275,000 unquoted options to acquire ordinary shares in the company under an employee incentive scheme. The new options, issued on 7 April 2026, are not intended to be quoted on the ASX and r...
Qualitas Flags Lapse of Options and Rights as Incentive Conditions Go Unmet
Jul 6, 2026
Qualitas Limited, an ASX-listed financial services and investment firm, structures its capital around a mix of ordinary securities, options and share rights that support employee and stakeholder incentive schemes. The company’s disclosure pr...
Qualitas director Bruce MacDiarmid lifts personal shareholding
Jul 1, 2026
Qualitas director Bruce Ian MacDiarmid has increased his personal stake in the company through an on-market purchase of 32,363 fully paid ordinary shares. The transaction was executed at an average price of about $3.05 per share, reflecting a dire...
Qualitas Director Andrew Schwartz Increases Stake in Real Estate Income Fund
Jun 30, 2026
Qualitas Limited has disclosed a change in director Andrew Schwartz’s relevant interests, detailing a modest increase in his holdings of units in the Qualitas Real Estate Income Fund. The transaction was executed as an on-market trade, with ...
Qualitas lifts Australian funds management margin target on AI-driven efficiencies
Jun 25, 2026
Qualitas has upgraded its long-term funds management EBITDA margin target for its Australian segment from above 50% to more than 60%. The company attributes the higher profitability goal to expected operational efficiencies, including scale benefi...
Qualitas to Brief Investors on Strategic AI Initiatives
Jun 24, 2026
Qualitas Limited has scheduled an investor briefing to update the market on its artificial intelligence initiatives, to be held via webcast on Friday, 26 June 2026 at 9:00am AEST. Senior leadership, including the Group Managing Director, Chief Fin...
Qualitas Director Boosts Holding in Real Estate Income Fund
Jun 22, 2026
Qualitas Limited has disclosed a change in director Andrew Schwartz’s interests, detailing an increase in his indirect holding of units in the Qualitas Real Estate Income Fund. The additional 571,674 QRI units were acquired on-market via Dav...
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.