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q.beyond AG
(XETRA:QBY0)
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Rating:62Neutral
Price Target:
€3.50
▲(0.57% Upside)
Action:Reiterated
Date:10/22/26
Overall score reflects improving financial quality (return to near break-even profitability and positive TTM free cash flow) and a balanced earnings-call outlook with strong liquidity and credible efficiency initiatives, partially offset by declining revenue and still-thin operating profitability. Technicals remain weak (price below key moving averages and negative MACD), while valuation appears inexpensive on the provided P/E.
Positive Factors
Strong liquidity and conservative leverage
Strong liquidity and a conservative capital structure give q.beyond room to fund its transformation, absorb weaker demand, and pursue selective investment. The substantial equity base and low leverage reduce financial strain while management executes its operating improvement plan.
Negative Factors
Declining revenue and Managed Services weakness
The company’s largest service area is contracting while its margin is also under pressure from subdued new business and price pressure. Persistent weakness in Managed Services would limit scale benefits, reduce earnings visibility, and make the recovery dependent on newer growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity and conservative leverage
Strong liquidity and a conservative capital structure give q.beyond room to fund its transformation, absorb weaker demand, and pursue selective investment. The substantial equity base and low leverage reduce financial strain while management executes its operating improvement plan.
Read all positive factors
q.beyond AG (QBY0) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€69.27M
Dividend Yield2.35%
Average Volume (3M)17.27K
Price to Earnings (P/E)1.1
Beta (1Y)0.54
Revenue Growth-6.01%
EPS GrowthN/A
CountryDE
Employees1,133
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)2.43
Shares Outstanding24,915,897
10 Day Avg. Volume28,864
30 Day Avg. Volume17,275
Financial Highlights & Ratios
PEG Ratio-0.58
Price to Book (P/B)0.92
Price to Sales (P/S)0.47
P/FCF Ratio78.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.31
Revenue Forecast (FY)€176.55M
q.beyond AG Business Overview & Revenue Model
Company Description
q.beyond AG is a technology enterprise specializing in cloud computing, software applications, artificial intelligence (AI), and cybersecurity services. Its operations span both Germany and international markets. The company's activities are struc...
q.beyond AG Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Neutral
The call presents a balanced picture: clear and measurable strengths in Consulting (revenue growth, margin expansion, and attractive recurring revenue exposure), tangible early AI-driven efficiency gains, solid liquidity and a funded transformation plan that promises significant recurring cost savings from 2027. Offsetting these positives are a noticeable decline and margin compression in Managed Services, higher-than-expected churn and slower contract signings, immediate one-off transformation costs (EUR 5–6m) and headcount reductions (~10% of German employees) that weigh on near-term profitability. Management has adjusted guidance downward for 2026 but communicates a credible path to improved profitability from 2027 via AI and M&A. On balance, the positives and negatives are roughly balanced.Positive Updates
Consulting Growth and Margin Expansion
Consulting revenue grew 5% year-over-year to EUR 16.0m; consulting gross profit rose from EUR 2.3m to EUR 4.2m (≈+83%) and gross margin improved from 15% to 26% (+11 percentage points). Management expects consulting gross margin to stabilize above 20% (c.21–23%).
Negative Updates
Overall Revenue Decline
Group revenue fell to EUR 43.0m in Q2 from EUR 44.4m a year ago (≈-3%), prompting a guidance adjustment for fiscal year revenue to around EUR 180m.
Read all updates
Q2-2026 Updates
Positive
Negative
Consulting Growth and Margin Expansion
Consulting revenue grew 5% year-over-year to EUR 16.0m; consulting gross profit rose from EUR 2.3m to EUR 4.2m (≈+83%) and gross margin improved from 15% to 26% (+11 percentage points). Management expects consulting gross margin to stabilize above 20% (c.21–23%).
Read all positive updates
Company Guidance
Management adjusted 2026 guidance to around EUR 180 million in revenue and an EBITDA range of EUR 3–7 million (this includes roughly EUR 5–6 million of one‑off transformation investments, ~EUR 900k already spent on the Romania tech hub and ~EUR 1m booked this year), with the one‑time spend expected to deliver at least EUR 7 million p.a. in personnel savings from 2027 (payback <1 year). In Q2 group revenue was EUR 43.0m (down ~3% y/y from EUR 44.4m), reported EBITDA was EUR 1.6m (including a EUR 0.9m restructuring provision) and adjusted EBITDA was EUR 2.5m (adjusted margin 6%), adjusted consolidated net income was breakeven, free cash flow for the quarter was –EUR 1.6m and net liquidity stood at EUR 41m (≈EUR 1.65/share, equity ratio 70%). Key operational metrics underpinning the guidance: Consulting grew 5% to EUR 16m (gross margin rose to ~26%, one‑off license effect ~EUR 1m), Managed Services fell to EUR 27m (from EUR 29.2m), new orders rose ~12% to EUR 20.6m, 71% of revenue is recurring, automated work already saves ~6,000 hours/month (~40 FTEs) with 300 workflows live and ~1,000 in development, the Cluj site is expected to boost output ~25% and save >EUR 1m/year from 2027, management plans a EUR 2.5m share buyback and targets ~30% nearshore by year‑end (40% in 2028) and ~10% of revenue AI‑driven over time.q.beyond AG Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
72
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 177.64M | 182.59M | 192.59M | 189.28M | 173.02M | 155.16M |
| Gross Profit | 24.42M | 25.44M | 23.54M | 16.81M | 14.67M | 19.12M |
| EBITDA | 9.61M | 8.39M | 9.06M | 3.97M | -10.79M | 31.38M |
| Net Income | 11.00K | 1.48M | -4.95M | -17.48M | -33.30M | 9.71M |
Balance Sheet | ||||||
| Total Assets | 134.62M | 138.21M | 152.89M | 154.34M | 161.06M | 200.30M |
| Cash, Cash Equivalents and Short-Term Investments | 40.99M | 42.01M | 39.09M | 37.64M | 36.39M | 56.70M |
| Total Debt | 10.92M | 12.52M | 8.71M | 8.64M | 8.25M | 14.19M |
| Total Liabilities | 40.21M | 41.83M | 58.28M | 54.95M | 45.41M | 52.93M |
| Stockholders Equity | 92.03M | 94.17M | 92.56M | 97.85M | 115.14M | 147.07M |
Cash Flow | ||||||
| Free Cash Flow | 6.79M | 1.10M | 6.96M | 3.90M | -4.78M | -14.94M |
| Operating Cash Flow | 9.14M | 2.87M | 10.53M | 6.47M | -1.26M | -7.66M |
| Investing Cash Flow | -2.40M | 6.83M | -3.41M | -1.70M | -13.99M | 24.70M |
| Financing Cash Flow | -5.37M | -6.81M | -5.67M | -3.52M | -5.07M | -5.26M |
q.beyond AG Technical Analysis
Negative
3.48
Price Trends
3.35
Negative
3.40
Negative
3.58
Negative
Market Momentum
-0.17
Positive
27.98
Positive
15.74
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:QBY0, the sentiment is Negative. The current price of 3.48 is above the 20-day moving average (MA) of 3.18, above the 50-day MA of 3.35, and below the 200-day MA of 3.58, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 27.98 is Positive, neither overbought nor oversold. The STOCH value of 15.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:QBY0.
q.beyond AG Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | €69.27M | 1.14 | 0.01% | 2.35% | -6.01% | ― | |
62 Neutral | €160.32M | 8.91 | 13.38% | 7.19% | -9.97% | 280.10% | |
60 Neutral | €4.22B | 17.09 | 12.00% | 2.09% | 7.74% | 14.82% | |
59 Neutral | €474.60M | 25.60 | 9.65% | 1.07% | 12.73% | 51.34% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €604.97M | 17.40 | 7.07% | 4.75% | -1.13% | 104.45% | |
54 Neutral | €403.54M | -40.30 | -8.99% | 1.48% | -1.94% | -161.38% |
* General Sector Average
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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.