Financials Bank of Queensland Limited

Equities

BOQ

AU000000BOQ8

Banks

Market Closed - Australian S.E. Other stock markets 02:10:42 2024-04-26 am EDT			5-day change	1st Jan Change
6.08 ^AUD	-1.46%		-0.98%	0.00%

Apr. 18	Jarden Research Adjusts Bank of Queensland Price Target to AU$5.80 from AU$5.70, Keeps at Neutral	MT
Apr. 17	Transcript : Bank of Queensland Limited, H1 2024 Earnings Call, Apr 17, 2024

Valuation

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,713	2,781	6,050	4,533	3,766	3,992	-	-
Enterprise Value (EV) ¹	3,713	2,781	6,050	4,533	3,766	3,992	3,992	3,992
P/E ratio	13.3 x	27.7 x	15.1 x	11.7 x	28.5 x	14.1 x	13.6 x	11.2 x
Yield	7.09%	1.96%	4.12%	6.54%	7.12%	5.42%	5.32%	5.87%
Capitalization / Revenue	3.41 x	2.54 x	4.81 x	2.69 x	2.16 x	2.5 x	2.46 x	2.36 x
EV / Revenue	3.41 x	2.54 x	4.81 x	2.69 x	2.16 x	2.5 x	2.46 x	2.36 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.96 x	0.66 x	0.84 x	0.68 x	-	0.67 x	0.66 x	0.66 x
Nbr of stocks (in thousands)	404,916	453,607	639,485	644,752	653,790	656,575	-	-
Reference price ²	9.170	6.130	9.460	7.030	5.760	6.080	6.080	6.080
Announcement Date	10/16/19	10/13/20	10/12/21	10/11/22	10/10/23	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,089	1,096	1,258	1,682	1,742	1,596	1,622	1,692
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	539	502	574	745	732	518.7	525.8	621.5
Operating Margin	49.49%	45.8%	45.63%	44.29%	42.02%	32.51%	32.41%	36.74%
Earnings before Tax (EBT) ¹	435	173	538	625	281	442.2	437.4	556.4
Net income ¹	298	115	369	426	124	304.9	307	369.1
Net margin	27.36%	10.49%	29.33%	25.33%	7.12%	19.1%	18.92%	21.82%
EPS ²	0.6920	0.2212	0.6260	0.6010	0.2020	0.4320	0.4476	0.5413
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.6500	0.1200	0.3900	0.4600	0.4100	0.3294	0.3236	0.3568
Announcement Date	10/16/19	10/13/20	10/12/21	10/11/22	10/10/23	-	-	-

¹AUD in Million²AUD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: August	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1	2026 S2
Net sales ¹	541	555	569	680	831	851	902	840	795	794.6	787.6	818.4	798.2	817.6
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	249	255	263	311	370	375	407	325	271	248.8	246.2	280.1	-	-
Operating Margin	46.03%	45.95%	46.22%	45.74%	44.52%	44.07%	45.12%	38.69%	34.09%	31.31%	31.26%	34.23%	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	93	22	154	215	212	214	4	120	151	146.9	119	145	-	-
Net margin	17.19%	3.96%	27.07%	31.62%	25.51%	25.15%	0.44%	14.29%	18.99%	18.49%	15.11%	17.72%	-	-
EPS	-	0.0417	-	-	-	0.3010	-	-	-	-	-	-	-	-
Dividend per Share ²	-	0.0600	0.1700	0.2200	0.2200	0.2400	0.2000	0.2100	-	0.1550	0.1200	0.1400	-	-
Announcement Date	4/7/20	10/13/20	4/14/21	10/12/21	4/13/22	10/11/22	4/19/23	10/10/23	4/16/24	-	-	-	-	-

¹AUD in Million²AUD

Estimates

Balance Sheet Analysis

Fiscal Period: August	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	8.3%	5.4%	8.2%	8.4%	7.3%	5.36%	5.1%	5.96%
ROA (Net income/ Total Assets)	0.59%	0.4%	0.55%	0.53%	-	0.32%	0.3%	0.37%
Assets ¹	50,560	28,714	67,091	80,241	-	95,444	103,614	100,148
Book Value Per Share ²	9.530	9.330	11.30	10.40	-	9.070	9.210	9.250
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	10/16/19	10/13/20	10/12/21	10/11/22	10/10/23	-	-	-

¹AUD in Million²AUD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Bank of Queensland Limited

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

6.08 AUD

Average target price

5.384 AUD

Spread / Average Target

-11.45%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other Banks

	1st Jan change	Capi.
BANK OF QUEENSLAND LIMITED	0.00%	2.6B
JPMORGAN CHASE & CO.	+13.75%	556B
BANK OF AMERICA CORPORATION	+12.36%	298B
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED	+8.64%	247B
WELLS FARGO & COMPANY	+21.72%	210B
BANK OF CHINA LIMITED	+16.11%	170B
CHINA CONSTRUCTION BANK CORPORATION	+6.88%	162B
HSBC HOLDINGS PLC	+4.42%	153B
HDFC BANK LIMITED	-11.67%	138B
ROYAL BANK OF CANADA	+0.10%	139B

Other Banks