Qube Holdings Ltd QUB

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A$3.51 +0.01 (0.29%)

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As of May 3, 2024 6:10am Delayed Price Closed

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Company Report

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Qube: Upgrading Guidance Following Recent Resilient Performance

Adrian Atkins May 2, 2024

Narrow-moat-rated Qube upgraded guidance for fiscal 2024 adjusted net profit after tax growth to 10%-15%, from 5%-10%. This is a solid performance in the face of significant headwinds to consumer spending, with management citing healthy activity levels across most of Qube’s businesses.

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Price vs Fair Value

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QUB is trading at a 0% premium.

Price

A$3.51

May 3, 2024

Fair Value

A$6.80

May 1, 2024

Uncertainty

Medium

1-Star Price: A$2.45
5-Star Price: A$6.22
Economic Moat: Szcbj
Capital Allocation: Vlnbwgtmq

Bulls Say, Bears Say

Bulls

There is significant potential to increase efficiency through vertical integration of port logistics services. Qube will attempt to deliver on this strategy through consolidation and integration.

Bears

A corporate structure of associate companies, acquired businesses, and newly purchased assets limits transparency. Meanwhile, a strategy focused on acquisitions adds integration risk.

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Trading Information

Previous Close Price: A$3.50
Day Range: A$3.49–3.58
52-Week Range: A$2.61–3.58
Bid/Ask: A$3.48 / A$3.52
Market Cap: A$6.20 Bil
Volume/Avg: 3.7 Mil / 2.9 Mil

Key Statistics

Price/Earnings (Normalized): 41.23
Price/Sales: 2.11
Dividend Yield (Trailing): 2.38%
Dividend Yield (Forward): 2.28%
Total Yield: 2.45%

Company Profile

Qube has three main divisions: operating; property; and Patrick. Operating undertakes road/rail transportation of containers to and from port, operation of container parks, customs/quarantine services, warehousing, intermodal terminals, international freight forwarding, domestic stevedoring, and bulk transport. Patrick is the container terminals business acquired from Asciano, and the property division includes tactical land holdings in Sydney.

Sector: Industrials
Industry: Integrated Freight & Logistics
Stock Style Box: Mid Core
Total Number of Employees: —
Website: https://www.qube.com.au

Competitors

Valuation

Metric	QUB	UNP	CSX
Price/Earnings (Normalized)	41.23	23.01	18.71
Price/Book Value	2.02	9.36	5.25
Price/Sales	2.11	6.08	4.60
Price/Cash Flow	14.52	17.32	12.59

Price/Earnings

QUB

UNP

CSX

Financial Strength

Metric	QUB	UNP	CSX
Quick Ratio	1.05	0.69	0.88
Current Ratio	1.12	0.93	1.05
Interest Coverage	2.27	7.16	6.95

Quick Ratio

QUB

UNP

CSX

Profitability

Metric	QUB	UNP	CSX
Return on Assets (Normalized)	4.09%	9.60%	8.83%
Return on Equity (Normalized)	7.70%	45.57%	30.10%
Return on Invested Capital (Normalized)	4.39%	15.23%	13.72%

Return on Assets

QUB

UNP

CSX

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