AUSTRALIAN FINANCE GROUP LIMITED (AFG)
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AFG

AFG - AUSTRALIAN FINANCE GROUP LIMITED

FNArena Sector : Banks
Year End: June
GICS Industry Group : Banks
Debt/EBITDA: 16.68
Index: ASX300 | ALL-ORDS

Australian Finance Group is one of Australia's largest mortgage broking groups and financial solutions providers. Established in 1994, it listed on the ASX in 2015.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.685

25 Jun
2026

-0.075

OPEN

$1.75

-4.26%

HIGH

$1.77

311,151

LOW

$1.67

TARGET
$2.42

-0.29 change from previous day

 43.6% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ANZ . BEN . BOQ . CBA . HLI . MYS . NAB . RMC . SUN . WBC .
FNARENA'S MARKET CONSENSUS FORECASTS
AFG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 12.9 17.6 xxx
DPS (cps) xxx 9.1 10.7 xxx
EPS Growth xxx 20.5% 36.2% xxx
DPS Growth xxx 13.7% 17.6% xxx
PE Ratio xxx N/A 9.3 xxx
Dividend Yield xxx N/A 6.5% xxx
Div Pay Ratio(%) xxx 70.4% 60.8% xxx

Dividend yield today if purchased 3 years ago: 5.37%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.55

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 08/09 - ex-div 5.30c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx12.9
DPS All xxxxxxxxxxxxxxx9.1
Sales/Revenue xxxxxxxxxxxxxxx1,254.7 M
Book Value Per Share xxxxxxxxxxxxxxx82.0
Net Operating Cash Flow xxxxxxxxxxxxxxx43.1 M
Net Profit Margin xxxxxxxxxxxxxxx2.79 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx16.81 %
Return on Invested Capital xxxxxxxxxxxxxxx1.27 %
Return on Assets xxxxxxxxxxxxxxx0.52 %
Return on Equity xxxxxxxxxxxxxxx16.81 %
Return on Total Capital xxxxxxxxxxxxxxx6.14 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx20.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx2,726 M
Long Term Debt xxxxxxxxxxxxxxx2,891 M
Total Debt xxxxxxxxxxxxxxx5,617 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx224 M
Price To Book Value xxxxxxxxxxxxxxx2.79

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx5.8 M
Capex % of Sales xxxxxxxxxxxxxxx0.46 %
Cost of Goods Sold xxxxxxxxxxxxxxx843 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx85 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx5,494 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Macquarie

12/05/2026

1

Outperform

$3.01

78.64%

Australian Finance Group presented at Macquarie's annual conference. Management pointed to lodgement momentum in 3Q26, with the securities loan book up to $6.7bn at end of the period from $6.3bn at December quarter end. Settlements came in at $1.5bn.

Residential lodgements advanced for the eighth consecutive quarter to a record $29.5bn, up 23% y/y. This activity is expected to translate to settlements and book growth.

The residential mix of lodgements has edged to upgraders representing 43%, noted as a four year high. Refinancing activity is a record low of 15% of lodgements. Management considers this an opportunity with the normal level at 30%.

Target price slips to $3.01 from $3.05 on slight EPS forecast downgrades. Outperform rated.

FORECAST
Macquarie forecasts a full year FY26 dividend of 10.70 cents and EPS of 18.20 cents.
Macquarie forecasts a full year FY27 dividend of 12.10 cents and EPS of 21.00 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

26/06/2026

2

Initiation of coverage with Overweight

$2.30

36.50%

Jarden initiates coverage on Australian Finance Group with an Overweight rating and a $2.30 target price following a steep recent valuation de-rating.

The analyst considers the 40% share price drop over the past year an attractive cyclical entry point rather than a signal of structural decline.

The core distribution segment generates steady annuity-style earnings via trail commissions and recurring subscription revenues, supported by a record 81% broker market share of domestic mortgage settlements.

The internal manufacturing division continues building balance sheet scale toward a $9bn loan book aspiration while managing near-term net interest margin pressures from elevated wholesale funding costs.

Valuation modeling utilizes a blended discounted cash flow and price-to-book methodology incorporating minor macro risk overlays surrounding domestic interest rate trajectories.

FORECAST
Jarden forecasts a full year FY26 dividend of 11.00 cents and EPS of 18.00 cents.
Jarden forecasts a full year FY27 dividend of 12.00 cents and EPS of 21.00 cents.
Access Extra Coverage Research History >

AFG STOCK CHART

FNArena News on AFG

1
In Brief: AFG, Lifestyle Communities, Mastermyne

Jun 26 2026 - Weekly Reports
2
Rudi’s View: Positives From February Results

Feb 26 2026 - Rudi's View
3
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Feb 19 2026 - Australia
4
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Oct 02 2025 - Rudi's View
5
Rudi’s View: A Glass Half-Full Outlook

Sep 03 2025 - Rudi's View

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In Brief: AFG, Lifestyle Communities, Mastermyne

Jun 26 2026 - Weekly Reports
2
Australian Banks, Bad Debts And The Budget

May 20 2026 - Feature Stories
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