Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Qrf Comm. VA is a Belgian public regulated real estate company (BE-REIT) specializing in retail properties located in prime inner-city locations across Belgium and the Netherlands. It focuses on the acquisition, redevelopment, and leasing of commercial real estate tailored to retail, leisure, and hospitality sectors, targeting high-traffic 'Golden Mile' streets in major cities such as Antwerp, Leuven, Mechelen, and Dutch hubs like Maastricht and Nijmegen. The portfolio, valued at 281.09 million EUR as of mid-2018, comprises 51 properties predominantly in inner-city areas (88%), generating stable rental income from prominent tenants. Qrf Comm. VA maintains a diversified financing structure, including bilateral credit lines and commercial paper programs, with a debt ratio around 54% and a focus on cost optimization. Headquartered in Antwerp, the company plays a significant role in the European real estate investment trust market by supporting vibrant urban retail ecosystems and engaging with retailers through initiatives like sponsoring 'Retailer of the Year Belgium'. Its operations emphasize portfolio optimization, divestments of non-strategic assets, and long-term value creation in dynamic retail landscapes.
€11.05
€0.10 (-0.90%)
Live · 04:50 PM · Twelve Data
70.87% operating margin is above average. ROIC at 4.19%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 8.2% YoY. Margins deteriorated 5.7pp alongside, both lines moving the wrong way.
Free cash flow declined 14% versus the prior year, cash generation momentum has weakened. Net debt of €93M represents 9.8x FCF, leverage limits flexibility.
7.9x earnings, 9.0x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
€14M
▼ -8.2% YoY
Net Income (TTM)
€11M
▲ +545.1% YoY
Op. Margin
70.87%
▼ -5.7pp YoY
ROIC
4.19%
▲ +0.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€10M
▼ -14.4% YoY
Op. Cash Flow (TTM)
€13M
▲ +20.6% YoY
Net Debt
€93M
Cash & Equiv.
€526K
3Y CAGR: +4.3%
3Y CAGR: +3.1%
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At a P/E of 7.9 and a price-to-free-cash-flow of 9.0, Qrf Comm. VA (QRF.XBRU) trades below a two-stage DCF intrinsic value of about €17.69 per share, so at €11.05 the stock looks undervalued (60.1% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Qrf Comm. VA scores 40/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 7.2%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about €17.69 per share for QRF.XBRU, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around €13.27. At today's €11.05, that puts the stock about 60.1% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Qrf Comm. VA scores 40 out of 100 on Intrinsiqq's quality score, passing 2 of 8 checks, which makes it a mixed business on these measures. Recent fundamentals include a 70.9% operating margin and a 4.2% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full check-by-check breakdown is on the quality scorecard.
Yes, Qrf Comm. VA pays a regular dividend of about €0.80 per share per year (typically in quarterly installments), a yield of roughly 7.2% at the current price. That is a payout ratio of about 57.1% of earnings, so the dividend is well covered. Qrf Comm. VA has grown the dividend at roughly 2.2% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For QRF.XBRU's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. QRF.XBRU currently trades below its estimated intrinsic value and scores 40/100 on quality (mixed). It also yields about 7.2%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.