QRF COMM VA (QRF.BR) Fundamental Analysis & Valuation

EBR:QRF • BE0974272040

11.35 EUR
+0.2 (+1.79%)
Last: Mar 4, 2026, 01:56 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This QRF.BR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Overall QRF gets a fundamental rating of 4 out of 10. We evaluated QRF against 43 industry peers in the Diversified REITs industry. QRF has a medium profitability rating, but doesn't score so well on its financial health evaluation. QRF is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

6

1. QRF.BR Profitability Analysis

1.1 Basic Checks

  • QRF had positive earnings in the past year.
  • QRF had a positive operating cash flow in the past year.
  • In multiple years QRF reported negative net income over the last 5 years.
  • QRF had a positive operating cash flow in each of the past 5 years.
QRF.BR Yearly Net Income VS EBIT VS OCF VS FCFQRF.BR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10M -10M -20M

1.2 Ratios

  • With a Return On Assets value of 1.43%, QRF perfoms like the industry average, outperforming 44.19% of the companies in the same industry.
  • QRF has a Return On Equity (2.70%) which is in line with its industry peers.
  • The Return On Invested Capital of QRF (3.79%) is better than 62.79% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for QRF is in line with the industry average of 3.59%.
Industry RankSector Rank
ROA 1.43%
ROE 2.7%
ROIC 3.79%
ROA(3y)2.86%
ROA(5y)1.47%
ROE(3y)5.61%
ROE(5y)2.86%
ROIC(3y)4.26%
ROIC(5y)3.85%
QRF.BR Yearly ROA, ROE, ROICQRF.BR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 -10 -15

1.3 Margins

  • QRF's Profit Margin of 27.07% is in line compared to the rest of the industry. QRF outperforms 46.51% of its industry peers.
  • QRF's Profit Margin has improved in the last couple of years.
  • QRF's Operating Margin of 76.78% is fine compared to the rest of the industry. QRF outperforms 69.77% of its industry peers.
  • In the last couple of years the Operating Margin of QRF has grown nicely.
  • QRF has a better Gross Margin (78.32%) than 65.12% of its industry peers.
  • In the last couple of years the Gross Margin of QRF has remained more or less at the same level.
Industry RankSector Rank
OM 76.78%
PM (TTM) 27.07%
GM 78.32%
OM growth 3Y13.86%
OM growth 5Y8.3%
PM growth 3Y63.42%
PM growth 5YN/A
GM growth 3Y-0.74%
GM growth 5Y0.21%
QRF.BR Yearly Profit, Operating, Gross MarginsQRF.BR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 100 -100

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. QRF.BR Health Analysis

2.1 Basic Checks

  • QRF has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • QRF has about the same amout of shares outstanding than it did 1 year ago.
  • The number of shares outstanding for QRF has been increased compared to 5 years ago.
  • QRF has a better debt/assets ratio than last year.
QRF.BR Yearly Shares OutstandingQRF.BR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M
QRF.BR Yearly Total Debt VS Total AssetsQRF.BR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

2.2 Solvency

  • QRF has an Altman-Z score of 0.36. This is a bad value and indicates that QRF is not financially healthy and even has some risk of bankruptcy.
  • QRF's Altman-Z score of 0.36 is on the low side compared to the rest of the industry. QRF is outperformed by 81.40% of its industry peers.
  • The Debt to FCF ratio of QRF is 9.98, which is on the high side as it means it would take QRF, 9.98 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 9.98, QRF belongs to the top of the industry, outperforming 81.40% of the companies in the same industry.
  • QRF has a Debt/Equity ratio of 0.51. This is a neutral value indicating QRF is somewhat dependend on debt financing.
  • QRF has a Debt to Equity ratio of 0.51. This is in the better half of the industry: QRF outperforms 79.07% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.51
Debt/FCF 9.98
Altman-Z 0.36
ROIC/WACC0.75
WACC5.02%
QRF.BR Yearly LT Debt VS Equity VS FCFQRF.BR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

2.3 Liquidity

  • QRF has a Current Ratio of 0.07. This is a bad value and indicates that QRF is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 0.07, QRF is doing worse than 90.70% of the companies in the same industry.
  • QRF has a Quick Ratio of 0.07. This is a bad value and indicates that QRF is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Quick ratio value of 0.07, QRF is not doing good in the industry: 90.70% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.07
Quick Ratio 0.07
QRF.BR Yearly Current Assets VS Current LiabilitesQRF.BR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. QRF.BR Growth Analysis

3.1 Past

  • QRF shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -70.92%.
  • The Earnings Per Share has been growing by 63.13% on average over the past years. This is a very strong growth
  • Looking at the last year, QRF shows a decrease in Revenue. The Revenue has decreased by -9.76% in the last year.
  • QRF shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -3.85% yearly.
EPS 1Y (TTM)-70.92%
EPS 3Y63.13%
EPS 5YN/A
EPS Q2Q%-68.48%
Revenue 1Y (TTM)-9.76%
Revenue growth 3Y2.47%
Revenue growth 5Y-3.85%
Sales Q2Q%-5.93%

3.2 Future

  • Based on estimates for the next years, QRF will show a decrease in Earnings Per Share. The EPS will decrease by -5.11% on average per year.
  • The Revenue is expected to grow by 11.27% on average over the next years. This is quite good.
EPS Next Y-24.01%
EPS Next 2Y-10.3%
EPS Next 3Y-5.11%
EPS Next 5YN/A
Revenue Next Year3.94%
Revenue Next 2Y13.6%
Revenue Next 3Y11.27%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
QRF.BR Yearly Revenue VS EstimatesQRF.BR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5M 10M 15M
QRF.BR Yearly EPS VS EstimatesQRF.BR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2023 2024 2025 2026 2027 0.5 1 1.5

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Find the best growth stocksShow best growing peers

3

4. QRF.BR Valuation Analysis

4.1 Price/Earnings Ratio

  • QRF is valuated quite expensively with a Price/Earnings ratio of 27.68.
  • QRF's Price/Earnings ratio is a bit more expensive when compared to the industry. QRF is more expensive than 65.12% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of QRF to the average of the S&P500 Index (26.83), we can say QRF is valued inline with the index average.
  • A Price/Forward Earnings ratio of 12.49 indicates a correct valuation of QRF.
  • QRF's Price/Forward Earnings is on the same level as the industry average.
  • QRF's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.95.
Industry RankSector Rank
PE 27.68
Fwd PE 12.49
QRF.BR Price Earnings VS Forward Price EarningsQRF.BR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of QRF is on the same level as its industry peers.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of QRF indicates a somewhat cheap valuation: QRF is cheaper than 67.44% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 11.66
EV/EBITDA 23.33
QRF.BR Per share dataQRF.BR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • QRF has a very decent profitability rating, which may justify a higher PE ratio.
  • QRF's earnings are expected to decrease with -5.11% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-10.3%
EPS Next 3Y-5.11%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. QRF.BR Dividend Analysis

5.1 Amount

  • QRF has a Yearly Dividend Yield of 5.23%, which is a nice return.
  • QRF's Dividend Yield is comparable with the industry average which is at 5.12.
  • QRF's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 5.23%

5.2 History

  • The dividend of QRF has a limited annual growth rate of 2.11%.
Dividend Growth(5Y)2.11%
Div Incr Years1
Div Non Decr Years6
QRF.BR Yearly Dividends per shareQRF.BR Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1

5.3 Sustainability

  • 201.17% of the earnings are spent on dividend by QRF. This is not a sustainable payout ratio.
  • The Dividend Rate of QRF has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP201.17%
EPS Next 2Y-10.3%
EPS Next 3Y-5.11%
QRF.BR Yearly Income VS Free CF VS DividendQRF.BR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10M -10M -20M
QRF.BR Dividend Payout.QRF.BR Dividend Payout, showing the Payout Ratio.QRF.BR Dividend Payout.PayoutRetained Earnings

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QRF.BR Fundamentals: All Metrics, Ratios and Statistics

QRF COMM VA

EBR:QRF (3/4/2026, 1:56:25 PM)

11.35

+0.2 (+1.79%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-26
Earnings (Next)04-23
Inst Owners6.09%
Inst Owner ChangeN/A
Ins Owners4.66%
Ins Owner ChangeN/A
Market Cap118.04M
Revenue(TTM)12.03M
Net Income(TTM)3.26M
Analysts76.67
Price Target11.37 (0.18%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.23%
Yearly Dividend0.79
Dividend Growth(5Y)2.11%
DP201.17%
Div Incr Years1
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 27.68
Fwd PE 12.49
P/S 9.81
P/FCF 11.66
P/OCF 11.41
P/B 0.98
P/tB 0.98
EV/EBITDA 23.33
EPS(TTM)0.41
EY3.61%
EPS(NY)0.91
Fwd EY8.01%
FCF(TTM)0.97
FCFY8.58%
OCF(TTM)0.99
OCFY8.76%
SpS1.16
BVpS11.59
TBVpS11.59
PEG (NY)N/A
PEG (5Y)N/A
Graham Number10.34
Profitability
Industry RankSector Rank
ROA 1.43%
ROE 2.7%
ROCE 5.05%
ROIC 3.79%
ROICexc 3.8%
ROICexgc 3.8%
OM 76.78%
PM (TTM) 27.07%
GM 78.32%
FCFM 84.17%
ROA(3y)2.86%
ROA(5y)1.47%
ROE(3y)5.61%
ROE(5y)2.86%
ROIC(3y)4.26%
ROIC(5y)3.85%
ROICexc(3y)4.29%
ROICexc(5y)3.89%
ROICexgc(3y)4.29%
ROICexgc(5y)3.89%
ROCE(3y)5.68%
ROCE(5y)5.14%
ROICexgc growth 3Y16.23%
ROICexgc growth 5Y6.99%
ROICexc growth 3Y16.24%
ROICexc growth 5Y6.99%
OM growth 3Y13.86%
OM growth 5Y8.3%
PM growth 3Y63.42%
PM growth 5YN/A
GM growth 3Y-0.74%
GM growth 5Y0.21%
F-Score4
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 0.51
Debt/FCF 9.98
Debt/EBITDA 6.58
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 3.48
Cash Conversion 111.5%
Profit Quality 310.93%
Current Ratio 0.07
Quick Ratio 0.07
Altman-Z 0.36
F-Score4
WACC5.02%
ROIC/WACC0.75
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-70.92%
EPS 3Y63.13%
EPS 5YN/A
EPS Q2Q%-68.48%
EPS Next Y-24.01%
EPS Next 2Y-10.3%
EPS Next 3Y-5.11%
EPS Next 5YN/A
Revenue 1Y (TTM)-9.76%
Revenue growth 3Y2.47%
Revenue growth 5Y-3.85%
Sales Q2Q%-5.93%
Revenue Next Year3.94%
Revenue Next 2Y13.6%
Revenue Next 3Y11.27%
Revenue Next 5YN/A
EBIT growth 1Y-39.85%
EBIT growth 3Y16.67%
EBIT growth 5Y4.14%
EBIT Next Year6.45%
EBIT Next 3Y13.74%
EBIT Next 5YN/A
FCF growth 1Y-17.55%
FCF growth 3Y3.11%
FCF growth 5Y1.23%
OCF growth 1Y-15.83%
OCF growth 3Y4.18%
OCF growth 5Y2.05%

QRF COMM VA / QRF.BR FAQ

Can you provide the ChartMill fundamental rating for QRF COMM VA?

ChartMill assigns a fundamental rating of 4 / 10 to QRF.BR.


What is the valuation status of QRF COMM VA (QRF.BR) stock?

ChartMill assigns a valuation rating of 4 / 10 to QRF COMM VA (QRF.BR). This can be considered as Fairly Valued.


How profitable is QRF COMM VA (QRF.BR) stock?

QRF COMM VA (QRF.BR) has a profitability rating of 6 / 10.


What is the earnings growth outlook for QRF COMM VA?

The Earnings per Share (EPS) of QRF COMM VA (QRF.BR) is expected to decline by -24.01% in the next year.


How sustainable is the dividend of QRF COMM VA (QRF.BR) stock?

The dividend rating of QRF COMM VA (QRF.BR) is 4 / 10 and the dividend payout ratio is 201.17%.