Explore Qube Holdings’s Fair Values from the Community and select yours
The projected fair value for Qube Holdings is AU$7.82 based on 2 Stage Free Cash Flow to Equity
Qube Holdings’ AU$4.43 share price signals that it might be 43% undervalued
The AU$4.32 analyst price target for QUB is 45% less than our estimate of fair value
How far off is Qube Holdings Limited (ASX:QUB) from its intrinsic value? Using the most recent financial data, we’ll take a look at whether the stock is fairly priced by taking the forecast future cash flows of the company and discounting them back to today’s value. We will use the Discounted Cash Flow (DCF) model on this occasion. It may sound complicated, but actually it is quite simple!
We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model.
This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.
We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second ‘steady growth’ period. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren’t available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.
Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today’s value:
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
Levered FCF (A$, Millions)
AU$229.5m
AU$368.2m
AU$481.6m
AU$590.0m
AU$688.5m
AU$775.4m
AU$851.1m
AU$917.2m
AU$975.6m
AU$1.03b
Growth Rate Estimate Source
Analyst x3
Analyst x2
Est @ 30.82%
Est @ 22.51%
Est @ 16.69%
Est @ 12.62%
Est @ 9.76%
Est @ 7.77%
Est @ 6.37%
Est @ 5.39%
Present Value (A$, Millions) Discounted @ 8.2%
AU$212
AU$315
AU$381
AU$431
AU$465
AU$485
AU$492
AU$490
AU$482
AU$470
(“Est” = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF) = AU$4.2b
We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country’s GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (3.1%) to estimate future growth. In the same way as with the 10-year ‘growth’ period, we discount future cash flows to today’s value, using a cost of equity of 8.2%.
Present Value of Terminal Value (PVTV)= TV / (1 + r)10= AU$21b÷ ( 1 + 8.2%)10= AU$9.6b
The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is AU$14b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of AU$4.4, the company appears quite good value at a 43% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula – garbage in, garbage out.
ASX:QUB Discounted Cash Flow August 17th 2025
The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. If you don’t agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company’s future capital requirements, so it does not give a full picture of a company’s potential performance. Given that we are looking at Qube Holdings as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we’ve used 8.2%, which is based on a levered beta of 1.198. Beta is a measure of a stock’s volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.
View our latest analysis for Qube Holdings
Strength
Weakness
Opportunity
Threat
Valuation is only one side of the coin in terms of building your investment thesis, and it shouldn’t be the only metric you look at when researching a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to “what assumptions need to be true for this stock to be under/overvalued?” If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. Why is the intrinsic value higher than the current share price? For Qube Holdings, there are three essential items you should assess:
Risks: Be aware that Qube Holdings is showing 1 warning sign in our investment analysis , you should know about…
Future Earnings: How does QUB’s growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.
Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!
PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the ASX every day. If you want to find the calculation for other stocks just search here.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Even when a business is losing money, it’s possible for shareholders to make money if they buy a good business at the right price. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you’d have done very well indeed. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed.
So, the natural question for Cordlife Group (SGX:P8A) shareholders is whether they should be concerned by its rate of cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. First, we’ll determine its cash runway by comparing its cash burn with its cash reserves.
This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.
You can calculate a company’s cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. When Cordlife Group last reported its June 2025 balance sheet in August 2025, it had zero debt and cash worth S$52m. In the last year, its cash burn was S$9.9m. Therefore, from June 2025 it had 5.3 years of cash runway. While this is only one measure of its cash burn situation, it certainly gives us the impression that holders have nothing to worry about. The image below shows how its cash balance has been changing over the last few years.
SGX:P8A Debt to Equity History August 17th 2025
View our latest analysis for Cordlife Group
Cordlife Group actually ramped up its cash burn by a whopping 97% in the last year, which shows it is boosting investment in the business. That does give us pause, and we can’t take much solace in the operating revenue growth of 2.8% in the same time frame. Considering both these metrics, we’re a little concerned about how the company is developing. In reality, this article only makes a short study of the company’s growth data. You can take a look at how Cordlife Group has developed its business over time by checking this visualization of its revenue and earnings history.
Cordlife Group seems to be in a fairly good position, in terms of cash burn, but we still think it’s worthwhile considering how easily it could raise more money if it wanted to. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. By comparing a company’s annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).
Cordlife Group has a market capitalisation of S$51m and burnt through S$9.9m last year, which is 19% of the company’s market value. Given that situation, it’s fair to say the company wouldn’t have much trouble raising more cash for growth, but shareholders would be somewhat diluted.
On this analysis of Cordlife Group’s cash burn, we think its cash runway was reassuring, while its increasing cash burn has us a bit worried. Cash burning companies are always on the riskier side of things, but after considering all of the factors discussed in this short piece, we’re not too worried about its rate of cash burn. On another note, Cordlife Group has 2 warning signs (and 1 which makes us a bit uncomfortable) we think you should know about.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies, and this list of stocks growth stocks (according to analyst forecasts)
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Ahead of her 50th birthday, American internist Dr Lisa Larkin, an expert in menopause management, had been doing all the right things to live a long and healthy life, including having regular mammograms.
Her most recent routine scan had turned up nothing untoward. Given the all-clear, she went off on a camping trip with her children to climb Mount Kilimanjaro in Tanzania, Africa’s highest peak.
It was on this trip in late 2013 that she felt a large mass in her breast.
Larkin and her children celebrate climbing Mount Kilimanjaro in 2013. But it was on this trip that she first felt a large mass in her breast. Photo: Facebook/UCHealthCincinnati
Breasts are made up of two types of tissue: glandular tissue and fatty tissue. If your tissue is more glandular than fatty, you have dense breasts.
On a mammogram, dense tissue appears white when compared to fatty tissue. Abnormal growths also tend to be dense and white, so imaging of dense tissue does not always show a potentially cancerous lump.
Dominant on the scoreboard but cluttered during the third quarter, the All Blacks opened their Lipovitan-D Rugby Championship campaign with a 41-24 win over Argentina in Cordoba on Sunday (NZT).
Out by 31-10 at halftime, the All Blacks struggled as Argentina battled back to 24-31 as loose forwards Pablo Matera and Marcos Kremer, and hooker Julian Montoya, pushed the All Blacks hard while first five-eighths Tomas Albornoz controlled their performance and scored a superb try.
But, once they cleared their mistakes, the All Blacks looked the dominant side, especially in lineouts where loose forward Tupou Vaa’i, lock Fabian Holland and replacement Patrick Tuipulotu took charge.
In the loose, Ardie Savea was in his element, and Vaa’i continued his growth on the blindside flank.
After an exchange of penalty goals to All Blacks first five-eighths Beauden Barrett and his opposite Albornoz, the All Blacks put their lineout maul to use for hooker Codie Taylor, Holland, and prop Fraser Newell to each charge at the line before the ball was released to the backs.
Fullback Will Jordan passed over the head of his marker for wing Sevu Reece to reel the ball in before it went over the sideline and scored in the eighth minute.
Argentina got their first chance in the All Blacks’ 22m area and made the most of it with several attempts to break through the middle of the rucks. But it wasn’t until they fed their backs that a pass from second five-eighths Santiago Chocobares was lobbed to wing Rodrigo Isgro, who scored out wide.
However, in play after the restart, a cynical foul by prop Mayco Vivas resulted in him receiving a yellow card. It took the All Blacks six minutes, but they finally took advantage after Savea, who was again in his burgling best in mauls, drove through tackles to get momentum.
The ball was moved wide through the backs, where Jordan side-stepped inside a defender to run into space and feed the supporting halfback Cortez Ratima, who scored in the 23rd minute.
Argentina’s desperation resulted in them conceding penalties that allowed the All Blacks to kick deep to the corners for lineouts, twice in the last five minutes.
First, at their second attempt, it was Savea on the back of a lineout maul who scored in the 37th minute, and then after second five-eighths Jordie Barrett was used to gain extra distance from inside the All Blacks’ half. Another lineout drive allowed Ratima to probe deep into the goalmouth, and after centre Billy Proctor and flanker Du’Plessis Kirifi carried on, it was moved wide for Reece to score his second try, two minutes into extra time.
The first 10 minutes of the second half were untidy from both sides before the All Blacks made their first substitutions before a scrum 15m from their line. But Argentina struck when replacement halfback Finlay Christie and Jordie Barrett were unable to contain Albornoz, who took advantage, running against the grain, to score under the crossbar.
As Argentina lifted the tempo of their game, and utilised more possession, the All Blacks started to concede penalties in their 22m, and the home benefited, with centre Billy Proctor infringed as Matera ran hard to the line, and was sin-binned. Argentina’s confidence lifted as it opted to take a scrum from a penalty, and then next used a tap penalty.
From that play, it was No8 Joaquin Alviedo who put the ball down beside a goalpost to get Argentina to 24-31 down.
That proved the spark to ignite the All Blacks’ response, and it was the choice to kick to the corners from penalties that, at the second attempt, saw replacement hooker Samison Taukei’aho use his strength off the maul to score and put more distance between the sides.
A carbon copy in the 73rd minute saw Taukei’aho over again to frustrate the home’s ambitions.
There was still time for the All Blacks to concede another yellow card when replacement centre Anton Lienert-Brown was involved in a head-on-head clash with Chocobares three minutes from the end.
Consistency and fluidity across the game were still elusive for the All Blacks, but they showed that when they were able to gain control, they had too much skill for the Argentinians to contain.
As a perpetually absent-minded person, I’ve always loved the thought of a smart home that could automate the tasks I always forget. It’s a nice thought, but the state of the smart home means that several large companies control the bulk of it, and no one company makes enough devices to use those in your home exclusively. I’ve got Home Assistant set up to fill the gaps between functionality and control.
Still, even then, it adds a significant amount of complexity to the initial setup of any sensors or devices, and that isn’t the utopia of smart home living that I envisioned. That doesn’t mean that all smart devices are annoyingly complex to master, and some mainstays of the space are refreshingly simple to get going. The even better news is that these devices all have advanced features or can be chained into routines, so they have a deceptive amount of depth.
Smart speakers
Hands-free control of your other smart devices is the best thing ever
The things in my smart home that get used the most are those I don’t have to touch, including a fleet of smart speakers scattered across my rooms. Unlike some of my colleagues, I’ve gone all-in on Alexa because, after using every major smart assistant (yes, including Bixby), Alexa is hands-down the best for the smart devices I own and the things I use voice control for.
That doesn’t mean you need to go with Alexa, you could be a Siri home, or prefer Google Assistant, or want to make a self-hosted smart assistant by running Ollama and linking it to some open-source smart speakers. I’ve tried rolling my own AI assistant, and I didn’t have the patience to customize and train it, but YMMV. But whatever way you want to control things, smart speakers are an easy win for the smart home, giving you control, access to data, and playback of various media sources when you want it.
Smart plugs
Monitor power usage, automate dumb devices, and more
Smart sockets, at their simplest, let you control dumb appliances. This is a low-cost, low-effort way to make your home smarter, enabling control of lamps, appliances, and other devices where a simple on and off will suffice, and you don’t need any complicated setup or knowledge to get them working. The better quality ones also monitor power consumption, which is handy as you can use them to indicate if the washing machine is finished, or so you know which TVs and stereos use up a lot of energy when on standby.
The one thing that might be annoying is the apps needed to control them, but you can get around this by linking them to Home Assistant or choosing ones that have voice integrations, so you never need to unlock your phone.
Smart lights and switches
The easiest smart devices to add to any home
Smart bulbs are the easiest thing to add to your existing home to make it smarter. Some run off Bluetooth, some use Zigbee, and others, like Philips Hue need a Bridge to link them to your network. If you don’t want to replace your bulbs with expensive smart bulbs, changing the light switches in your walls does the same thing, or you can get little in-line dongles that go behind your existing switches and enable smart functionality.
But they’re still lights at the end of the day, and adding smarts just makes it easier to control them and the intensity of the light they put out. I’ve got a mix of brands and styles in my home, and if I had to do it all again, I’d replace every wall switch with smart ones that use low-power mesh networking to communicate, because bulbs are cheap to replace, switches should last forever, and having every switch on the same ecosystem makes the whole process work seamlessly. Plus you can add automations like scheduling, triggers like presence sensors, and geofencing to make your smart lighting even better.
Smart thermostats
Keep your home comfortable and add money-saving smarts
Source: Google
I’d consider a smart thermostat an essential part of any smart home, because if you’re not comfortable at home, where can you be? You don’t have to get the premium models if all you want is wireless or hands-off controls, but the more you spend, the better the feature set you get is, and it’s often worth the splurge. I’ve got a Nest Learning Thermostat, which logs my historical usage and works out a future schedule based on my prior preferences, plus things like the local weather and what time of year it is.
Even installing them isn’t a tricky business; match the wire colors to the pegs on the thermostat’s base, and you’ll be up and running in minutes. You only need to worry about whether your central air system can use one, and whether you need a C-wire to supply constant power to your unit. And really, it’s not much trouble to get an electrician to install one for you, and then actually using a smart thermostat is one of the simplest smart home devices I’ve owned.
Smart locks
Never worry about if you locked your door or not
Source: Avia
I live in constant fear that I’ll either forget my keys at home or lose them while out, locking me out of the house. Not for idle thoughts either, as I’ve had it happen numerous times, and I’m sure it will happen again. But with a smart lock on every door, I don’t have to worry about keys, as I can use biometrics, pin codes, or my smartphone as the key and never worry again. Plus, members of your family who might lose keys can have their fingerprints enrolled, so they, too, never have to worry about being locked out.
That’s only part of the equation, as smart locks can ensure your home is secure if you forget to lock the doors. They can enable short-term or one-use keys for family and friends to enter without sharing the passkey. Not that you can’t use a physical key if you want, and you’ll want that as a backup just in case the battery powering the lock runs down, but it’s liberating to know that your home doors will lock themselves and open when you get home, without worrying about access fobs or keys.
Not every smart home device needs a long instruction manual
Your smart home devices are supposed to work for you and make repetitive tasks less onerous or remember things on your behalf. The best devices get out of your way without a complicated setup process, and make living in your space a nicer experience. I’d consider these categories of devices to be essential for the modern smart home, and each adds plenty of value with automations, advanced features, and hands-off control to make your home smarter. It’s probably worth mentioning that not every device in these five categories will fit that bill, but most of them will, and as long as you stick to easily-searchable brand names, you’ll have a hassle-free smart home in no time.
Download eight free Steam games today that you can keep forever, no strings attached.
It’s nearly the weekend, so naturally, we’re going to need some video games to play. However, despite potentially having hundreds of games to play from our collection, we still have nothing to play! The struggle is real.
Thankfully, Steam is stacked full of free games that we can download and play today. There are also tons of potential indie darlings to keep us busy.
So, with that in mind, as brought to our attention by the Twitter account, ‘Free Steam Games’, here are eight games you can check out right now that won’t cost you a penny:
Core Of Magic: “Ancient gods and demons have been haunting the people of Steelmoor for months, and it’s up to the hero to defeat evil. Is dark magic at play? Who is responsible for this?”
Elestrals Clash!: “Is an innovative cross-platform digital card game that brings epic mythical beings to life! Players can wield elemental powers, explore diverse environments, and engage in strategic clashes wherever they are. Wishlist now to Ascend to Immortality and unlock exclusive rewards!”
Once Upon a Galaxy: “Is an easy to learn Card Battler with incredible strategic depth and near infinite fun! Which of your favourite characters from myth and fairy tale will you choose?”
Sherlock: Hidden Object & Match-3 Mystery: “Explore familiar stories with Sherlock Holmes! Solve mysteries, find hidden objects, and play match-3 puzzles to restore classic tales. Join clans, take part in events, and uncover secrets across hundreds of detailed levels — the magnifying glass is in your hands!”
Spores of Fortune: “Learn about REAL mushrooms and how to identify them, in this cosy mushroom picking Sim! Also, manage your shop and sell them to the local folk.”
Swing Into Zero-G: “Fast-paced multiplayer racing game set in the vastness of space. Compete against friends or online rivals in intense races, where quick reflexes and strategic use of diverse skills determine the victor. Embrace the challenge of swinging your way to victory in this exhilarating space-themed race!”
The Man in the Park: “Is a multiple ending five-minute horror game where you try to make it out of your neighbourhood park . . . alive.”
Xanadu Land: “Is a fast-paced, massively multiplayer bullet hell game that brings you to the arcade gameplay. In the nonstop BOSS battle, your death is just the beginning. Accumulate experience, acquire equipment, and fight side by side with other players to knock down all the BOSSes!”
Be sure to give ‘Free Steam Games’ a follow on Twitter, because it’s a great place to find, well, free Steam games, as well as plenty of giveaways.
Prince Harry and Meghan Markle’s new Netflix deal was a “demotion dressed as a promotion”, according to a PR expert, who described it as a “polite breakup” between the two sides so the Sussex couple avoid embarrassment. The Duke and Duchess of Sussex’s media company, Archewell Productions, triumphantly announced that they are “extending their partnership” with Netflix as the couple’s previous lucrative contract, reported to be worth around £74 million, is nearing its end next month.
But instead of renewing their current contract, the Sussexes now have a new “multi-year first look” deal, which is different to the one they previously had. Netflix will now be able to see the Sussex couple’s ideas first before deciding whether to pursue any of them.
Now, a PR expert claimed that the new deal was a “clever way” for the streaming giant to avoid headlines about dropping the Sussex couple.
Harry and Meghan previously had signed a lucrative deal with Spotify, which axed them after only producing 12 episodes for a podcast series, Archetypes.
Renae Smith, founder of PR agency The Atticism, told the Express: “This ‘partnership extension’ is basically a demotion dressed as a promotion.
“My bet is it’s a clever way for Netflix to avoid headlines about dropping them, and for the Sussexes to say they still have a deal. But it feels more like a polite break-up. Netflix may also be trying to manage a soft exit.”
The PR specialist claimed that the Sussex couple do not have the “easiest break up style,” which could explain the streamer’s move in a bid to avoid drama.
She said: “They’re more the ‘throw a grenade back as you leave the building’ type and I am sure Netflix considered the blowout if Meghan did decide to complain about being ‘dumped’ etc.
“Whether they’ll actually do anything significant together after this is questionable.”
The anterior, middle, and posterior cerebral arteries respectively supply the yellow, red, and blue parts of the brain.
| Photo Credit: Frank Gaillard, Patrick J. Lynch
The brain is a guzzler, burning through about a fifth of our resting energy and keeping almost nothing in reserve. When a few thousand neurons suddenly burst into activity — e.g. when you spot a familiar face in the crowd — the fuel has to arrive immediately. Blood vessels open wide to let it in but they can’t rob neighbouring regions to pay for the rush. The whole supply network must pitch in, and here lies the mystery: even the most distant arteries seem to respond almost instantly.
Scientists call this process neurovascular coupling. Neurons fire, nearby capillaries widen, and blood flow rises as arteries join in, pushing more fuel into the pipeline. Researchers have seen messages travelling ‘upstream’ from smaller vessels to bigger ones but the known chemical messengers moved too slowly to explain the brain’s split-second feats. Something else was clearly at work that passed the call to action almost instantaneously.
Cells lining the brain’s blood vessels are linked by gap junctions, narrow portals that let neighbouring cells exchange ions and small molecules. When Chengua Gu’s lab at Harvard University introduced serotonin into one cell, it slipped through the junctions to its neighbours. A later test revealed a web of connections that were strongest in the arteries and weaker in the veins. The team found that two connexin proteins, Cx37 and Cx40, were especially abundant in the arteries and inferred they may be responsible for the rapid call to action.
The findings were published in Cell in July.
University College London neuroscientist David Attwell said this arrangement lets signals travel along vessel walls to widen upstream arteries, boosting blood flow to active brain areas. Brant Isakson, a vascular physiologist at the University of Virginia, added that different vessels use different connexins to pass certain signals better, “like specific pipes for specific fluids”.
To prove the link, the Harvard team bred mice that lacked Cx37 and Cx40 in their artery walls. In healthy mice, a burst of brain activity sent a widening signal along the arteries that reached more than a millimetre in a quarter of a second. In the modified mice, the signal moved at a third of the speed.
The gap became most obvious when large swaths of the brain lit up. In healthy mice, the widening action spread rapidly and in sync across the arterial network. In the modified mice, it was slower, weaker, and stuck near the source. The results suggested that gap junctions acted as a “scaling mechanism” that let blood delivery grow to match bursts of brain activity.
Anna Devor, a neuroscientist at Boston University who studies how blood flow shapes fMRI signals, said the study nailed down the mechanism that lets vessel-widening signals travel along the vessel walls and measured how fast that happens.
“Knowing both the mechanism and the speed is priceless for computer models linking brain activity to blood flow,” she said. Such models, according to her, could help detect vascular problems, test drugs virtually, and guide therapies, especially when paired with artificial intelligence models.
The results could also help explain mismatches between brain activity and blood flow. Devor recalled the late imaging pioneer Amiram Grinvald likening the brain’s oxygen supply to “watering the entire garden for one thirsty flower”. Signals to widen vessels often travel upstream, adding delays: hundreds of milliseconds in small arteries and over a second in larger ones. This study shows that gap junctions account for much of that lag, with the rest due to slower chemical messengers reaching their target vessels.
The work may also raise questions about disease. Attwell noted that it’s possible, but unproven, that losing gap junction connections in aging or small vessel diseases could lower brain blood flow. Testing that idea, he said, would mean boosting the proteins in lab animals and seeing if that improved brain function.
According to Isakson, the findings could help develop drugs to activate connexins as well as discover how the brain’s 20-plus connexin protein types combine into mosaic junctions that fine-tune messages from cell to cell.
The brain’s energy efficiency depends on more than just responsive neurons: it requires a hidden vascular network. Here, the arteries exchange rapid messages through the gap junctions, coordinating supply lines across millimetres in the blink of an eye. This chatter is a reminder that the brain’s lifeblood is as much in its wiring as in its firing.
Anirban Mukhopadhyay is a geneticist by training and science communicator from Delhi.
