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QEM Ltd (QEM) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of QEM Ltd stock A$0.01, price A$0.01, that is 5.6% below the price, quality 37 out of 100. Rating: fairly valued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Energy AU · ISIN AU0000022246

QL QEM Ltd logo Thin data Nov 7, 2026

QEM Ltd

QEM · AU
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Fair value A$0.0085 · Fairly valued
Quality 37/100
Weak Growth (revenue 5y −2.0 %/yr in AUD)
Negative free cash flow
Trails peers (2/7)
Narrow moat 5/100
Thin data
⟳ Cyclical⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

A$0.2800 A$0.0090 Fair Value A$0.0085 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range A$0.0090 – A$0.2800 · the A$0.0090 price screens above the A$0.0085 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

QEM Limited engages in the exploration and development of vanadium and oil shale project in Australia.

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Its flagship project is the Julia Creek oil shale and vanadium project comprising 4 tenements covering an area of 249.6 square kilometers located in the Julia Creek area of North Western Queensland, Australia.

The company was formerly known as Queensland Energy & Minerals Pty Ltd and changed its name to QEM Limited in August 2018. QEM Limited was incorporated in 2014 and is headquartered in Surfers Paradise, Australia.

Stock analysis

QEM Ltd (QEM) currently trades at A$0.0090, while our model-based Fair Value estimate is A$0.0085, so the stock looks roughly fairly valued today (gap 5.9%).

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Quality & growth

The Quality Score stands at 37/100 (below-average quality), in the Energy sector.

Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.

QEM Ltd reported revenue of A$263K in FY2025 versus A$339K in FY2021, a compound −6.2%/yr. Reported net income was −A$2.4M in FY2026.

Key figures

Market cap A$3.3M (≈ $2.3M) Micro · P/S ratio 15.2 · EPS (TTM) A$−0.0100 · Return on equity −68.0% · Return on assets (EBIT) −117% (5-year average) · Operating margin 9,214% · Revenue (TTM) A$288K · Revenue growth (YoY) +10.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (medium confidence).

What moves the price

The share trades about 83% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Energy peers we cover trades at 10% fair-value upside, at −6%, QEM screens richer than that median.

Fair Value models

Bear A$0.0085 Fair Value A$0.0085 Bull A$0.0085
Price A$0.0090 · Downside -5.6%
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. 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.
Best data coverage
NCAV (Graham) A$0.0100 A$0.0100 A$0.0100 53
All 1 models by family
Asset-Based
NCAV (Graham) A$0.0100 A$0.0100 A$0.0100 53

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 37/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 75
Are margins and returns getting better?
Cashflow 10
Do the profits arrive as real cash?
Financial strength 88
Debt, balance sheet and risk of trouble
Investment 56
Does it invest with discipline instead of growing at any price?
Low Volatility 23
How calm the share price moves, does not count
Price momentum 6
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 0/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
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.
+0.8%
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.
−2.0%
Start year 2020 (pandemic). Over 10 years: +47.5% a year
Revenue growth 10 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.
+47.5%
Profit margin (trend) ⓘ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.
−473.6% (2020) → −1,086.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

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Compare QEM Ltd with another stock

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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.Oil & Gas E&P · 239 stocks

Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 37 · Below median
Fair Value upside −5.6% · Above median
Profitability
Return on assets −52.9% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 10.9% · Below median

Valuation Multiplesvs Oil & Gas E&P median · lower = cheaper

P/B 0.77× · Cheapest 25%
P/S (12 months) 11.40× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)26 · sector 23
FUTURE (revenue growth)55 · sector 100
PAST (return on equity)0 · sector 30
HEALTH (low debt)0 · sector 85
DIVIDEND (yield)0 · sector 72

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas E&P stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Diamondback Energy, Inc FANG $178.96 $242.64 +36% vs QEM
CNOOC Limited 0883 HK$23.48 HK$26.76 +14% vs QEM
EOG Resources, Inc EOG $147.13 $166.94 +13% vs QEM
Canadian Natural Resources Limited CNQ $48.55 $53.41 +10% vs QEM
EQT Corporation EQT $49.40 $54.34 +10% vs QEM
Devon Energy Corporation DVN $42.21 $39.47 −7% vs QEM
Woodside Energy Group WDS $21.04 $19.39 −8% vs QEM
ConocoPhillips explores for, COP $136.27 $92.89 −32% vs QEM
Occidental Petroleum Corporation OXY $56.38 $33.18 −41% vs QEM
Aker BP ASA AKRBP kr 316.80 kr 127.39 −60% vs QEM

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QEM Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "QEM Ltd Fair Value". https://www.fairvalue-calculator.com/stock/QEM

Frequently asked questions

Is QEM Ltd (QEM) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of A$0.0085 versus a price of A$0.0090, about 6% lower (fairly valued).
What is the fair value of QEM?
Our model-based fair value for QEM Ltd is A$0.0085 (as of Nov 7, 2026), built from audited fundamentals. The current price: A$0.0090.
What is the quality score of QEM?
QEM Ltd has a Quality Score of 37/100. 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 QEM Ltd (QEM)?
Our model-based price target is the fair value of A$0.0085 (as of Nov 7, 2026) from 1 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the QEM Ltd stock forecast for 2026?
Our models put fair value at A$0.0085, about 6% lower versus a price of A$0.0090 (fairly valued). The calculation is refreshed regularly with new filings.
What is the revenue of QEM Ltd (QEM)?
QEM Ltd reported trailing-twelve-month revenue of about A$288K (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of QEM Ltd (QEM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For QEM Ltd it is A$0.0085 per share (as of Nov 7, 2026), against a price of A$0.0090. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is QEM Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, QEM trades above its calculated fair value: price A$0.0090, fair value A$0.0085, a gap of about −6% (fairly valued). 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 QEM?
No. The price is what the market pays today (A$0.0090); the fair value is what the company's own numbers justify (A$0.0085). For QEM Ltd the two are A$0.0005 per share apart. That gap is exactly why we show both numbers side by side.
How much is QEM Ltd worth?
The market values QEM Ltd at about A$3.3M (market capitalisation, as of Nov 7, 2026). Per share that is A$0.0090; our models calculate a fair value of A$0.0085 per share.
How solid is the balance sheet of QEM Ltd (QEM)?
Balance-sheet figures for QEM Ltd (as of Nov 7, 2026): return on equity −68.0%. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is QEM from its 52-week high?
QEM Ltd trades at A$0.0090, about 83% below its 52-week high of A$0.0520 and at the low of A$0.0090 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.0085 is for.
Which stocks are comparable to QEM Ltd?
From the same area (Energy) we also value ConocoPhillips explores for,, CNOOC Limited, Canadian Natural Resources Limited, EOG Resources, 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 QEM Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price A$0.0090, calculated fair value A$0.0085 (−6%), Quality Score 37/100, from 1 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 QEM calculated?
We run QEM Ltd through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of A$0.0085 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. QEM 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 QEM Ltd (QEM)?
The closing price on Nov 9, 2026 was A$0.0090. Our model-based fair value is A$0.0085, about 6% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with QEM Ltd right now?
The price sits above even our optimistic bull case (A$0.0085). The favourable scenario is already priced in. The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of QEM Ltd

How large is the market capitalisation of QEM Ltd (QEM)?
The market capitalisation of QEM Ltd is A$3.3M (≈ $2.3M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of QEM Ltd (QEM)?
The price-to-sales ratio of QEM Ltd is 15.2 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of QEM Ltd (QEM)?
Earnings per share at QEM Ltd are A$−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of QEM Ltd (QEM)?
The return on equity (ROE) of QEM Ltd is −68.0% (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 QEM Ltd (QEM)?
On an EBIT basis the return on assets of QEM Ltd is −117% (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 QEM Ltd (QEM)?
The operating margin of QEM Ltd is 9,214% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at QEM Ltd (QEM)?
Revenue at QEM Ltd is growing +10.9% versus a year earlier (3y avg +0.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does QEM Ltd (QEM) generate?
The free cash flow of QEM Ltd is −A$2.3M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does QEM Ltd (QEM) hold?
QEM Ltd holds more cash than debt, A$4.3M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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