Qatar Gas Transport Company Limited (Nakilat) (QPSC) (QGTS.QA) stock analysis

In our weekly check, Qatar Gas Transport Company Limited (Nakilat) (QPSC) is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 15 pass, warnings: 3, red flags: 7.

About Qatar Gas Transport Company Limited (Nakilat) (QPSC)

Qatar Gas Transport Company Limited (Nakilat) (QPSC) is an Industrials company (Marine Shipping), listed on DOH as QGTS.QA.

What our checks show for QGTS.QA

Red flags

• Net debt is 6.3x a year of EBITDA (debt/equity 1.43). That limits room in a downturn and raises refinancing risk.
• The gross margin fell by 5.3 points, to 46.8%: costs are rising faster than prices.
• Analysts expect the net margin to shrink by 4.3 points from today's 40.1%.
• Free cash flow is negative (-44.7% of revenue): the business spends more cash than it brings in.
• The stock has fallen as much as 68% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 4.7 years.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Operating profit covers interest only 2 times: a weak year could make the payments hard.
• Revenue grew only 4.9% a year over the last 3 years.
• Return on capital (ROCE) is only 5%.

Strengths

• The net margin rose by 2.4 points over 5 years, to 40.1%.
• Operating cash flow is 1.26x net profit: the profit arrives as real cash.
• The company keeps 40.1% of its revenue as net profit.
• The dividend takes 24% of profit: there is a cushion.
• Beta 0.31: the stock usually moves less than the market.
• Actively traded: about 2.2 million shares a day.

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Questions

What grade does Qatar Gas Transport Company Limited (Nakilat) (QPSC) (QGTS.QA) have?

In our weekly check, Qatar Gas Transport Company Limited (Nakilat) (QPSC) is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 15 pass, warnings: 3, red flags: 7. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of QGTS.QA stock?

This week's biggest flags for Qatar Gas Transport Company Limited (Nakilat) (QPSC): High debt, Gross margin falling, Margins expected to shrink. In total 10 of 25 checks show a warning or a red flag.

What does Qatar Gas Transport Company Limited (Nakilat) (QPSC) do?

Qatar Gas Transport Company Limited (Nakilat) (QPSC) is an Industrials company (Marine Shipping), listed on DOH as QGTS.QA.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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