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Qt Group: Perfection in performance and valuation

By Inderes
Qt Group
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We re-iterate our previous target price of 35.0 EUR for Qt Group and lower our recommendation to reduce (prev. Accumulate). Qt’s equity story combines a market with large growth potential, a product with proven competitiveness, demonstrated ability in strategy implementation, and a scalable business model. The company is also currently transitioning towards the strong and profitable growth phase of its strategy, which makes the investment profile highly appealing. The rise in share price does however limit share’s return potential, even if Qt executes excellently on its strategy to reach its goals.

Qt Group

34.3EUR11.09.2020, 18.00
35EURTarget price
Accumulate
Recommendation updated:10.08.2020

QT Group is active in the IT sector. The group develops various development tools for the global market. The technology is based on QT technology and is used to develop multi-platform interfaces and associated applications. The services are used in, among other things, industrial robots, entertainment systems, and vehicle systems. Businesses are conducted on a global level and customers are found in the automotive and aerospace industries.

Read more on company page

Key Estimate Figures10.08.2020

201920e21e
Revenue58.473.592.5
growth-%28.0 %25.9 %25.8 %
EBIT (adj.)0.210.819.2
EBIT-% (adj.)0.4 %14.7 %20.8 %
EPS (adj.)-0.010.370.70
Dividend0.000.000.25
Dividend %0.4 %
P/E (adj.)neg.167.087.1
EV/EBITDA175.3109.569.2
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