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Bank of Queensland Ltd (BOQ) Fair Value & Analysis

Financial Services · AU · Market cap A$4.1B (≈ $3.0B) · ISIN AU000000BOQ8

What is Bank of Queensland Ltd really worth?

BO Bank of Queensland Ltd BOQ · AU
PriceA$6.68
Fair ValueA$2.73
Upside−59.1%
Quality46/100

Below-average quality, and trading another 145% above our fair value of A$2.73.

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Risks

!Mixed Growth (revenue 5y +38.6 %/yr)
!Thin margins · 5.9% net margin
!High debt · generates free cash flow
!Trails peers (3/15)
!Narrow moat 43/100
!Weak on future: 10 out of 100
!Weak on past: 7 out of 100
!Weak on balance sheet: 12 out of 100

For context

·5.99% dividend yield
Evidence: High Range A$2.05 – A$3.42

Fair value as of: Aug 19, 2026

From 6 valuation models · updated 16 days ago

Share price +0.6% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (A$3.42). The favourable scenario is already priced in.
  • Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

A$7.62 A$4.45 Fair Value A$2.73 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range A$4.45 – A$7.62 · fair‑value band A$2.05 – A$3.42 · the A$6.68 price screens above the A$2.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

Full chart & analysis →

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Analysis

Bank of Queensland Ltd (BOQ) currently trades at A$6.68, while our model-based Fair Value estimate is A$2.73, implying the stock looks roughly 144.7% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of A$6.11 per share, and 0 of the 6 models we run sit above the A$6.68 price. Bear case: the Multiples group reads lowest at A$2.63, and 6 of the 6 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Bank of Queensland Ltd generated revenue of A$1.7B at a net margin of 5.9%. Revenue grew 2.0% year over year. It earns a return on equity of 1.6%. Net debt stands at A$17.7B. Fundamentals as of Aug 19, 2026

Our scenario range runs from A$2.05 (bear case) to A$3.42 (bull case); at A$6.68, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at −59%, BOQ screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence A$6.33 A$6.11 A$4.87 76
Gordon GGM A$3.09 A$6.15 A$9.31 67
DDM Multi-Stage A$3.09 A$5.31 A$6.49 67
All 6 models by family
Dividend Discount
Gordon GGM A$3.09 A$6.15 A$9.31 67
DDM Multi-Stage A$3.09 A$5.31 A$6.49 67
Multiples
P/E Multiple A$1.97 A$2.63 A$3.29 63
P/B Multiple A$2.58 A$3.44 A$4.30 55
Asset-Based
NCAV (Graham) A$4.49 A$6.02 A$8.98 54
Economic Profit
Residual Income best evidence A$6.33 A$6.11 A$4.87 76

Widest divergence: Economic Profit (A$6.11) versus Multiples (A$2.63). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 44.5
P/S ratio 1.25 P/E × margin
EPS (TTM) A$0.1500 price ÷ EPS = P/E 44.5
Dividend yield 6.0%
Net margin 2.8% FY2025
Return on equity 1.6% TTM
More key figures
Profitability
Return on assets (EBIT) 0.5% avg 5y
Operating margin 25.8% TTM
Growth
Revenue (TTM) A$1.7B TTM
Revenue growth (YoY) +2.0% 3y avg +42.5%
EPS growth (YoY) −19.0%
Balance sheet & cash flow
Free cash flow A$172M FY2025
Net debt A$17.7B FY2025

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 43 · Market factors (momentum, volatility) 57

Profitability 13
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 9
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Bank of Queensland Limited, together with its subsidiaries, engages in the provision of financial services in Australia. The company operates through Retail Bank and BOQ Business segments.

Full company description

Bank of Queensland Limited, together with its subsidiaries, engages in the provision of financial services in Australia. The company operates through Retail Bank and BOQ Business segments. It offers banking and savings accounts; term deposits; transaction accounts; business bank accounts; debit and credit cards; home and contents insurance; car insurance; business banking support products; foreign exchange and trade services; and merchant and payment products. The company also provides personal loans; home loans, such as refinancing; business loans, as well as business overdraft, self-managed super fund loan, and equipment and vehicle finance; and banking solutions for agribusiness, corporate and property, and healthcare. Bank of Queensland Limited was founded in 1874 and is based in Newstead, Australia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bank of Queensland Ltd reported revenue of A$4.7B in FY2025 versus A$1.3B in FY2021, a compound +38.8%/yr. Reported net income was A$133M in FY2025, compounding −22.5%/yr from FY2021.

Growth Quality 69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
A$4.7B
Latest YoY
−7.0%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+42.5%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+38.6%
Avg. revenue growth/yr (36Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.9%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−9.5% (−15.5 + 6.0)
Revenue +38.8%/yr
FY21 A$1.3B
FY22 A$1.6B
FY23 A$4.2B
FY24 A$5.1B
FY25 A$4.7B
Net income −22.5%/yr
FY21 A$368M
FY22 A$409M
FY23 A$124M
FY24 A$285M
FY25 A$133M
Character of growth · EPS growth decomposed (2014-2025) −8.8 % p.a.
Revenue per share +15.1 %

of which total revenue +19.0 % · buybacks/dilution −3.3 %

EBIT margin −16.1 %
Tax rate −2.5 %
Residual (interest, one-offs) −3.2 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

BOQ screens 145% overvalued. Compare with DBS Group →

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Cite: Fair Value Calculator (2026). "Bank of Queensland Ltd Fair Value". https://www.fairvalue-calculator.com/stock/BOQ

Peer Group

Banks - Regional · 1071 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 48 · Below median
Fair Value upside −59% · Bottom 25%
Return on equity (TTM) 2% · Bottom 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 6% · Bottom 25%
Operating margin (TTM) 26% · Bottom 25%
Revenue growth 2% · Below median
Dividend yield (TTM) 6.0% · Top 25%
Debt / equity 1.76× · Higher than 75% of peers

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 44.5× · Pricier than 75% of peers
P/B 0.51× · Cheaper than 75% of peers
P/S (TTM) 1.80× · Cheaper than 75% of peers
P/FCF 17.4× · Pricier than 75% of peers
EV/EBITDA 32.2× · Pricier than 75% of peers
PEG 4.08× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 33
FUTURE10 · sector 45
PAST7 · sector 41
HEALTH12 · sector 85
DIVIDEND100 · sector 51

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
DBS Group D05 75.65 SGD 40.48 SGD −46%
China Merchants Bank Co 3968 HK$47.96 HK$76.51 +60%
Intesa Sanpaolo S.p.A ISP €6.78 €5.66 −17%
HDFC Bank Limited HDB $23.17 $24.12 +4%
BNP Paribas SA BNP €102.56 €144.64 +41%
UniCredit S.p.A UCG €84.71 €77.62 −8%
Mizuho Financial Group MFG $10.74 $9.69 −10%
ICICI Bank Limited ICICIBANK ₹1,443 ₹835.21 −42%
Oversea-Chinese Banking Corporation O39 31.07 SGD 19.80 SGD −36%
CaixaBank, S.A CABK €13.52 €8.85 −35%

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Frequently asked questions

Is Bank of Queensland Ltd (BOQ) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of A$2.73 versus a price of A$6.68, about −59% upside (overvalued).
What is the fair value of BOQ?
Our model-based fair value for Bank of Queensland Ltd is A$2.73 (as of Aug 19, 2026), built from audited fundamentals. The current price: A$6.68.
What is the quality score of BOQ?
Bank of Queensland Ltd has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Bank of Queensland Ltd (BOQ)?
Bank of Queensland Ltd reported trailing-twelve-month revenue of about A$1.7B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of BOQ?
The net profit margin of Bank of Queensland Ltd is about 5.9%, meaning it keeps roughly 5.9% of revenue as net income. Based on the latest reported figures.
Does Bank of Queensland Ltd pay a dividend?
Bank of Queensland Ltd currently shows a dividend yield of about 5.99% relative to its recent price (as of Aug 19, 2026).
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