QRF COMM VA (QRF.BR) Stock Fundamental Analysis
Europe - Euronext Brussels - EBR:QRF - BE0974272040 - REIT
10.85 EUR
+0.15 (+1.4%)
Taking everything into account, QRF scores 4 out of 10 in our fundamental rating. QRF was compared to 42 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.
1. Profitability
1.1 Basic Checks
- QRF had positive earnings in the past year.
- In the past year QRF had a positive cash flow from operations.
- The reported net income has been mixed in the past 5 years: QRF reported negative net income in multiple years.
- In the past 5 years QRF always reported a positive cash flow from operatings.
1.2 Ratios
- Looking at the Return On Assets, with a value of 1.43%, QRF is in line with its industry, outperforming 42.86% of the companies in the same industry.
- The Return On Equity of QRF (2.70%) is worse than 61.90% of its industry peers.
- Looking at the Return On Invested Capital, with a value of 3.79%, QRF is in the better half of the industry, outperforming 61.90% of the companies in the same industry.
- The Average Return On Invested Capital over the past 3 years for QRF is in line with the industry average of 3.45%.
| Industry Rank | Sector 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%
1.3 Margins
- QRF's Profit Margin of 27.07% is in line compared to the rest of the industry. QRF outperforms 42.86% of its industry peers.
- In the last couple of years the Profit Margin of QRF has grown nicely.
- QRF has a better Operating Margin (76.78%) than 66.67% of its industry peers.
- QRF's Operating Margin has improved in the last couple of years.
- The Gross Margin of QRF (78.32%) is better than 69.05% 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 Rank | Sector 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%
2. Health
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), QRF is destroying value.
- Compared to 1 year ago, QRF has about the same amount of shares outstanding.
- QRF has more shares outstanding than it did 5 years ago.
- Compared to 1 year ago, QRF has an improved debt to assets ratio.
2.2 Solvency
- Based on the Altman-Z score of 0.34, we must say that QRF is in the distress zone and has some risk of bankruptcy.
- Looking at the Altman-Z score, with a value of 0.34, QRF is doing worse than 85.71% of the companies in the same industry.
- QRF has a debt to FCF ratio of 9.98. This is a negative value and a sign of low solvency as QRF would need 9.98 years to pay back of all of its debts.
- QRF's Debt to FCF ratio of 9.98 is fine compared to the rest of the industry. QRF outperforms 78.57% of its industry peers.
- 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 amongst the best in the industry. QRF outperforms 80.95% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.51 | ||
| Debt/FCF | 9.98 | ||
| Altman-Z | 0.34 |
ROIC/WACC0.77
WACC4.9%
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.
- The Current ratio of QRF (0.07) is worse than 92.86% of its industry peers.
- A Quick Ratio of 0.07 indicates that QRF may have some problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 0.07, QRF is doing worse than 92.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.07 | ||
| Quick Ratio | 0.07 |
3. Growth
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.
- Measured over the past years, QRF shows a decrease in Revenue. The Revenue has been decreasing by -3.85% on average per year.
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
- QRF is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -5.11% yearly.
- 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
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 26.46 indicates a quite expensive valuation of QRF.
- Compared to the rest of the industry, the Price/Earnings ratio of QRF indicates a slightly more expensive valuation: QRF is more expensive than 64.29% of the companies listed in the same industry.
- The average S&P500 Price/Earnings ratio is at 27.47. QRF is around the same levels.
- The Price/Forward Earnings ratio is 11.94, which indicates a very decent valuation of QRF.
- The rest of the industry has a similar Price/Forward Earnings ratio as QRF.
- Compared to an average S&P500 Price/Forward Earnings ratio of 24.26, QRF is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.46 | ||
| Fwd PE | 11.94 |
4.2 Price Multiples
- 69.05% of the companies in the same industry are cheaper than QRF, based on the Enterprise Value to EBITDA ratio.
- QRF's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. QRF is cheaper than 64.29% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.14 | ||
| EV/EBITDA | 22.83 |
4.3 Compensation for Growth
- 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%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 5.50%, QRF is a good candidate for dividend investing.
- QRF's Dividend Yield is comparable with the industry average which is at 4.99.
- QRF's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.5% |
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
5.3 Sustainability
- QRF pays out 201.17% of its income as dividend. This is not a sustainable payout ratio.
- QRF's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP201.17%
EPS Next 2Y-10.3%
EPS Next 3Y-5.11%
EBR:QRF (1/16/2026, 7:00:00 PM)
10.85
+0.15 (+1.4%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)10-23 2025-10-23
Earnings (Next)02-26 2026-02-26
Inst Owners6.09%
Inst Owner ChangeN/A
Ins Owners4.66%
Ins Owner ChangeN/A
Market Cap112.84M
Revenue(TTM)12.03M
Net Income(TTM)3.26M
Analysts76.67
Price Target11.37 (4.79%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.5% |
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)-3.04%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-2.3%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)7.32%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.46 | ||
| Fwd PE | 11.94 | ||
| P/S | 9.38 | ||
| P/FCF | 11.14 | ||
| P/OCF | 10.91 | ||
| P/B | 0.94 | ||
| P/tB | 0.94 | ||
| EV/EBITDA | 22.83 |
EPS(TTM)0.41
EY3.78%
EPS(NY)0.91
Fwd EY8.38%
FCF(TTM)0.97
FCFY8.97%
OCF(TTM)0.99
OCFY9.17%
SpS1.16
BVpS11.59
TBVpS11.59
PEG (NY)N/A
PEG (5Y)N/A
Graham Number10.34
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 0.34 |
F-Score4
WACC4.9%
ROIC/WACC0.77
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 3 / 10 to QRF COMM VA (QRF.BR). This can be considered as Overvalued.
How profitable is QRF COMM VA (QRF.BR) stock?
QRF COMM VA (QRF.BR) has a profitability rating of 5 / 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%.