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QAF Ltd.
(SGX:Q01)
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Rating:68Neutral
Price Target:
S$1.00
▲(2.04% Upside)
Action:Reiterated
Date:09/24/26
The score is driven primarily by steady financial fundamentals and a conservative balance sheet, supported by an attractive dividend yield and reasonable P/E. Offsetting these positives are weaker cash-flow momentum and neutral-to-soft technical signals (slightly below key moving averages with mildly negative MACD).
Positive Factors
Conservative balance sheet
Very low leverage reduces balance-sheet strain and limits the financial burden of interest and refinancing. This gives QAF greater flexibility to withstand operating volatility, fund necessary investment, and preserve capital allocation options over the next several quarters.
Negative Factors
Declining free cash flow
A year-over-year decline in free cash flow weakens the pace at which QAF can internally fund dividends, investment, or debt reduction. If sustained, weaker cash momentum could make reported earnings less supportive of long-term financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage reduces balance-sheet strain and limits the financial burden of interest and refinancing. This gives QAF greater flexibility to withstand operating volatility, fund necessary investment, and preserve capital allocation options over the next several quarters.
Read all positive factors
QAF Ltd. (Q01) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$540.75M
Dividend Yield5.29%
Average Volume (3M)37.09K
Price to Earnings (P/E)14.4
Beta (1Y)0.22
Revenue Growth0.21%
EPS Growth44.93%
CountrySG
Employees9,996
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)0.07
Shares Outstanding575,268,430
10 Day Avg. Volume38,510
30 Day Avg. Volume37,093
Financial Highlights & Ratios
PEG Ratio0.87
Price to Book (P/B)1.01
Price to Sales (P/S)0.81
P/FCF Ratio12.39
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)N/A
Revenue Forecast (FY)N/A
QAF Ltd. Business Overview & Revenue Model
Company Description
QAF Limited functions as an investment holding company, with its primary focus on the production and distribution of bread, various bakery goods, and confectionery items across Singapore, Australia, the Philippines, Malaysia, and other internation...
QAF Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
84
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 634.25M | 633.60M | 636.11M | 628.59M | 577.52M | 557.72M |
| Gross Profit | 265.78M | 141.72M | 302.02M | 148.70M | 262.65M | 264.65M |
| EBITDA | 63.54M | 62.48M | 73.30M | 67.93M | 64.66M | 60.86M |
| Net Income | 37.83M | 39.84M | 34.70M | 27.48M | 19.41M | 52.08M |
Balance Sheet | ||||||
| Total Assets | 625.19M | 668.63M | 664.28M | 669.16M | 664.76M | 878.16M |
| Cash, Cash Equivalents and Short-Term Investments | 204.75M | 214.06M | 209.40M | 215.68M | 216.79M | 88.70M |
| Total Debt | 26.61M | 23.16M | 31.97M | 48.92M | 41.75M | 56.95M |
| Total Liabilities | 135.68M | 156.32M | 163.24M | 180.68M | 165.30M | 345.83M |
| Stockholders Equity | 487.53M | 510.29M | 499.68M | 486.85M | 497.71M | 530.55M |
Cash Flow | ||||||
| Free Cash Flow | 29.23M | 41.57M | 45.92M | 17.87M | 25.87M | 79.07M |
| Operating Cash Flow | 44.07M | 59.36M | 65.25M | 57.57M | 52.45M | 109.19M |
| Investing Cash Flow | -4.54M | -17.02M | -13.15M | -33.42M | 94.37M | -23.41M |
| Financing Cash Flow | -32.76M | -39.26M | -50.70M | -22.96M | -52.95M | -72.68M |
QAF Ltd. Technical Analysis
Negative
0.98
Price Trends
0.96
Negative
0.97
Negative
0.95
Negative
Market Momentum
>-0.01
Positive
40.70
Neutral
25.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:Q01, the sentiment is Negative. The current price of 0.98 is above the 20-day moving average (MA) of 0.96, above the 50-day MA of 0.96, and above the 200-day MA of 0.95, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.70 is Neutral, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:Q01.
QAF Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | S$1.25B | 14.58 | 19.74% | 6.02% | 14.02% | 146.88% | |
68 Neutral | S$540.75M | 14.36 | 7.58% | 5.29% | 0.21% | 44.93% | |
63 Neutral | S$424.75M | 9.80 | 12.37% | 5.02% | -2.00% | 23.78% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | S$2.00B | 12.77 | 5.02% | 4.07% | -2.52% | -6.24% | |
52 Neutral | S$116.64M | 1.71 | -7.79% | 0.91% | -49.36% | ― |
* Consumer Defensive Sector Average
SG:Q01
QAF Ltd.
0.95
0.09
10.27%
SG:D03
Del Monte Pacific
0.06
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Fraser & Neave
1.35
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SG:P34
Delfi
0.70
-0.14
-16.97%
SG:Y03
Yeo Hiap Seng Ltd
0.56
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-4.44%
SG:F03
Food Empire Holdings Limited
1.91
-0.02
-1.24%
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.