Qualitas Ltd (QAL) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Qualitas Ltd stock A$1.95, price A$2.78, that is 29.9% below the price, quality 62 out of 100. Rating: overvalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
59‑month range A$1.33 – A$3.92 · fair‑value band A$1.16 – A$3.60 · the A$2.78 price screens above the A$1.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Qualitas is a real estate investment firm which focuses on direct investment in all real estate classes and geographies, acquisitions and restructuring of distressed debt, third party capital raisings and consulting services.
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It seeks to provide bridge loans in the major markets of the Australian east coast, and particularly the medium and high density residential development sector. Qualitas is based in Melbourne, Australia with an additional office in Sydney, Australia. It operates as a subsidiary of Qualitas Group.
Stock analysis
Qualitas Ltd (QAL) currently trades at A$2.78, while our model-based Fair Value estimate is A$1.95, 30% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of A$3.73 per share, and 2 of the 9 models we run sit above the A$2.78 price.
Bear case: the Economic Profit group reads lowest at A$1.29, and 7 of the 9 models stay below the price. Data coverage for this calculation is high.
Scenario range: A$1.16 (bear) to A$3.60 (bull), the price of A$2.78 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Qualitas Ltd reported revenue of A$130M in FY2026 versus A$47.3M in FY2022, a compound +28.7%/yr. Reported net income was A$41.7M in FY2026, compounding +36.2%/yr from FY2022.
Key figures
Market cap A$838M (≈ $578M) Small · P/E ratio 19.9 · P/S ratio 6.38 · EPS (TTM) A$0.1400 · Dividend yield 4.1% · Net margin 31.8% · Return on equity 10.7% · Return on assets (EBIT) 7.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 73 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 31% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at −30%, QAL screens richer than that median.
Fair Value models
BearA$1.16Fair Value A$1.95BullA$3.60
Price A$2.78 · Downside -29.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 4 months old). Earnings retained since then (A$0.0098 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+10.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.9%
Start year 2021 (pandemic)
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
≈ +37.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +33.5%
Dividend (yield on the price)4.1%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.21% → 46%
⚠ Base effect: the rate starts in the earnings trough around 2021 (starting value 0.047 per share, median 1044000000 in 2018 to 2019). It measures the recovery from the trough, not lasting growth.
⚠ Rate on operating basis: 2026 sits 57% above its own trend.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 587 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside−29.9% · Bottom 25%
Profitability
Return on equity (12 months)10.7% · Above median
Return on assets8.4% · Above median
Net margin (12 months)31.8% · Above median
Operating margin (12 months)44.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)13.5% · Above median
Dividend yield (12 months)4.1% · Above median
Balance sheet
Debt / equity0.07× · Below median
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (12 months)19.9× · Pricier than median
P/B2.10× · Priciest 25%
P/S (12 months)6.38× · Pricier than median
EV/EBITDA13.1× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 57
FUTURE (revenue growth)68· sector 38
PAST (return on equity)43· sector 29
HEALTH (low debt)97· sector 96
DIVIDEND (yield)81· sector 80
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Qualitas Ltd Fair Value". https://www.fairvalue-calculator.com/stock/QAL
Frequently asked questions
Is Qualitas Ltd (QAL) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of A$1.95 versus a price of A$2.78, about 30% lower (overvalued).
What is the fair value of QAL?
Our model-based fair value for Qualitas Ltd is A$1.95 (as of Nov 3, 2026), built from audited fundamentals. The current price: A$2.78.
What is the quality score of QAL?
Qualitas Ltd has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Qualitas Ltd (QAL)?
Our model-based price target is the fair value of A$1.95 (as of Nov 3, 2026) from 9 valuation models. Cautious scenario A$1.16, optimistic scenario A$3.60. It is a calculation from audited fundamentals, not an analyst target.
What is the Qualitas Ltd stock forecast for 2026?
Our models put fair value at A$1.95, about 30% lower versus a price of A$2.78 (overvalued). Cautious scenario A$1.16, optimistic scenario A$3.60. The calculation is refreshed regularly with new filings.
What is the revenue of Qualitas Ltd (QAL)?
Qualitas Ltd reported trailing-twelve-month revenue of about A$131M (latest available figure, as of Nov 3, 2026).
Does Qualitas Ltd pay a dividend?
Qualitas Ltd currently shows a dividend yield of 4.06% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Qualitas Ltd (QAL) and when is the ex-dividend date?
Qualitas Ltd pays a dividend of A$0.113 per share a year, a dividend yield of 4.1%. The last ex-dividend date was Sep 3, 2026. A dividend has been paid every year since at least 2022. The payout ratio is 80.7% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Qualitas Ltd (QAL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Qualitas Ltd it is A$1.95 per share (as of Nov 3, 2026), against a price of A$2.78. It is the blended result of 9 valuation models in 6 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Qualitas Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, QAL trades above its calculated fair value: price A$2.78, fair value A$1.95, a gap of about −30% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of QAL?
No. The price is what the market pays today (A$2.78); the fair value is what the company's own numbers justify (A$1.95). For Qualitas Ltd the two are A$0.8300 per share apart. That gap is exactly why we show both numbers side by side.
How much is Qualitas Ltd worth?
The market values Qualitas Ltd at about A$838M (market capitalisation, as of Nov 3, 2026). Per share that is A$2.78; our models calculate a fair value of A$1.95 per share.
What do the bullish and bearish scenarios say about QAL?
Our models span a range for Qualitas Ltd: cautious scenario A$1.16, base A$1.95, optimistic A$3.60 per share (as of Nov 3, 2026, price A$2.78). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of QAL?
Qualitas Ltd trades at a price-to-earnings ratio of 19.9 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$1.95 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2022 to 2026), reported earnings: 30.9. Other multiples: P/B 2.1, P/S 6.4, EV/EBITDA 13.1.
How solid is the balance sheet of Qualitas Ltd (QAL)?
Balance-sheet figures for Qualitas Ltd (as of Nov 3, 2026): return on equity 10.7%, debt of 0.07 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is QAL from its 52-week high?
Qualitas Ltd trades at A$2.78, about 29% below its 52-week high of A$3.92 and 31% above the low of A$2.13 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of A$1.95 is for.
Which stocks are comparable to Qualitas Ltd?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Asset Management Ltd, KKR & Co, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Qualitas Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price A$2.78, calculated fair value A$1.95 (−30%), Quality Score 62/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of QAL calculated?
We run Qualitas Ltd through 9 models from 6 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of A$1.95 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Qualitas Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Qualitas Ltd (QAL)?
The closing price on Nov 9, 2026 was A$2.78. Our model-based fair value is A$1.95, about 30% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Qualitas Ltd right now?
The model range is unusually wide (A$1.16 to A$3.60). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Qualitas Ltd
How large is the market capitalisation of Qualitas Ltd (QAL)?
The market capitalisation of Qualitas Ltd is A$838M (≈ $578M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Qualitas Ltd (QAL)?
The price-to-sales ratio of Qualitas Ltd is 6.38 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Qualitas Ltd (QAL)?
Earnings per share at Qualitas Ltd are A$0.1400 (price ÷ EPS = P/E 19.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Qualitas Ltd (QAL)?
The dividend yield of Qualitas Ltd is 4.1% (payout 80.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Qualitas Ltd (QAL)?
The net margin of Qualitas Ltd is 31.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Qualitas Ltd (QAL)?
The return on equity (ROE) of Qualitas Ltd is 10.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Qualitas Ltd (QAL)?
On an EBIT basis the return on assets of Qualitas Ltd is 7.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Qualitas Ltd (QAL)?
The operating margin of Qualitas Ltd is 44.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Qualitas Ltd (QAL)?
Revenue at Qualitas Ltd is growing +13.5% versus a year earlier (3y avg +11.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Qualitas Ltd (QAL)?
Earnings per share at Qualitas Ltd are growing +21.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Qualitas Ltd (QAL) generate?
The free cash flow of Qualitas Ltd is −A$43.4M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Qualitas Ltd (QAL) carry?
The net debt of Qualitas Ltd is A$6.4M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 3, 2026