QLCOTechnology · Software - Application · ΧΑ

Qualco Group

€5.96

−0.01(−0.17%)

Close 26/10/2026 · end-of-day price, not real-time

Qualco Group (QLCO) closed at €5.96 on 26/10/2026, -0.17% on the day. Market cap €417.4m, dividend yield 0.76%.

My view

Private · MENTOR takes it into account

+4.9%6M

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26/10/2026Close 5.96−0.17%Vol 56.1k+4.9% since start

Key statistics

FY2025 unless a figure says otherwise

Profile

At the 26 Oct close

Market value: €417.4m
Enterprise valueDec 2025est.: €465.5m
Shares outstandingOct 2026: 70m
RevenueFY2025: €215.7m
Employees: 1,423
Free floatest.: 8.3%
Traded a day, 3-month average: €723.4k

Valuation

FY2025

P/E: —
P/B: 4.3×
EV/Salesest.: 2.2×
EV/EBITDAest.: 13.3×
P/FCF: —
Dividend yield: 0.8%

Margins

FY2025

Gross: 44.2%
EBITDA: 16.3%
Operating (EBIT): 10.8%
Pre-tax: 7.3%
Net: 4.5%
Free cash flow: −0.8%

Net margin = the shareholders' profit ÷ group revenue.

Returns

FY2025

ROE: 13.2%
ROCE: 16.0%
ROICest.: 9.7%
ROA: 3.3%
Tax rate: 39.1%

Financial health

Dec 2025

Cash: €55.1m
Net debt: €39.6m
Net debt ÷ EBITDA: 1.1×
Debt ÷ equity: 85.0%
Interest coverFY2025: 5.1×

Growth

Revenue, last yearFY2025: +17.4%
EPS, last yearFY2025: −100.0%
Revenue, 3 yearsFY2022–25, a year: +12.2%

Dividends

FY2025

Yield, last 12 months: 0.8%
Per share: €0.045
Payout: —
Covered by free cash flow: −0.57×
Years paid, last fiveFY2021–25: 4

Trading and risk

From our closes, dividends reinvested

Total return, 1 year: +10.6%
Volatility, 1 year: 31.0%
Deepest fall, 1 year / 5 years: −22.0% / −22.0%
52-week range: €5.205–€6.675

est.worked out by us

Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.

Financial charts

From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements

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Valuation

4 companies

Metric	QLCO	Peer median	Peer range
P/B	4.3	—
P/S	1.9	4.9	3.7 6.4
EV/EBITDA	13.3	14.6	8.2 35.7
Dividend yield	0.8%	1.1%	0.0% 3.1%
Gross margin	44.2%	—
Operating margin	10.8%	—
Net margin	4.5%	10.2%	6.6% 49.2%
ROE	13.2%	—
Revenue growth (last full year)	17.4%	22.5%	3.7% 72.7%
Net debt	€39.6m	−€3.8m	-€15.2m -€51k

Twelve Data · latest quarter 31/12/2025

Peers: Software

EV/EBITDADay

Qualco GroupQLCO13.3−0.2%

Profile Systems & SoftwarePROF15.9+0.2%

IlydaILYDA8.2−2.0%

SOFTWeb - Adaptive I.T. SolutionsSOFTWEB35.7+3.6%

Logismos Information SystemsLOGISMOS13.4+0.7%

Compare in depth

The company

AI-drafted

Qualco Group builds credit and receivables management software and platforms for banks, credit funds, utilities and telecoms, and services third-party loan portfolios through QQuant. It operates in Greece, the UK, Cyprus, France and the UAE, and listed on the Athens Exchange Main Market in May 2025.

How it makes moneyH1 2026 · basis: revenue

Platform as a Service⁸53%
Software & Technology⁸28%
Portfolio Management⁸19%

It is

A holding company: revenue comes from software licences, platform and success fees, and servicing fees earned by its subsidiaries.^1,2
Controlled by its founders through Wokalon Finances Limited, which holds 61.88%.^2,4

It is not

Not a debt buyer: QQuant services €21.4bn of portfolios owned by others rather than holding the underlying loans.^1,2
Not a company with a five-year listed record: it was incorporated in February 2025 and has published one annual report.^1,4
No longer mainly an NPL servicer: that segment was 19% of H1 2026 revenue.³

Recent developmentsAll company events →

Aug 2026Acquired 50.1% of Multiverse S.A. for €0.9m upfront, plus up to €1.35m of earn-out.²
Jul 2026Acquired 60% of Lever Development Consultants for €3.0m upfront.²
Jun 2026The AGM approved the first dividend and a long-term incentive plan of up to 6m new shares.⁶
May 2026Admitted to the Euronext Tech Leaders segment.²
Mar 2026Acquired a 34% minority stake in Resitech Ltd for €0.64m.²
May 2025Listed on the Athens Exchange Main Market at €5.46 per share, raising €113.0m in total.^1,7

Key figures

Awarded revenue, next five years €762m 30 Jun 2026³
Assets under management €21.4bn 30 Jun 2026²
International revenue share 32% H1 2026³
LTM adjusted EBITDA margin 19.1% LTM to Jun 2026³
Net debt excluding leases and remaining IPO cash / LTM adjusted EBITDA 1.3x 30 Jun 2026³

Key facts

One customer was about 41% of H1 2026 revenue and 44% of FY2025 revenue.^1,2
First dividend as a listed company: €0.045 gross per share for FY2025, paid from 28 August 2026.^5,6
1,423 employees at 30 June 2026, up from 1,297 at the end of 2025.²
Management reaffirmed about 15% revenue growth and its roughly 20% EBITDA-margin target for 2026; the forward margin is not reconciled to historical unadjusted EBITDA.³

Sources

1.Annual Financial Report 2025Qualco Group S.A. · 21/04/2026official
2.Six-Month Financial Report to 30 June 2026Qualco Group S.A. · 15/09/2026official
3.H1 2026 results press releaseQualco Group S.A. · 15/09/2026official
4.Prospectus for the Initial Public Offering and Admission to TradingQualco Group S.A. · 06/05/2025official
5.Dividend distribution and ex-dividend date announcementQualco Group S.A. · 27/07/2026official
6.Resolutions of the Annual General Meeting of June 2026Qualco Group S.A. · 30/06/2026official
7.FIRDS register record for ISIN GRS543003008ESMA · 17/09/2026official
8.H1 2026 investor presentationQualco Group S.A. · 15/09/2026official

AI-drafted from the cited sources · 30/09/2026 · v2 · ✓ checked by an independent second modelQualco Group S.A.Website ↗

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Why it moved

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News & events

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Peers

4 listed peers

Results

How it did vs last year

Valuation

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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.