COG FINANCIAL SERVICES LIMITED (COG)
Share Price Analysis and Chart

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COG

COG - COG FINANCIAL SERVICES LIMITED

FNArena Sector : Business & Consumer Credit
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 4.73
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.72

07 May
2026

0.180

OPEN

$1.54

11.69%

HIGH

$1.72

1,035,635

LOW

$1.54

TARGET
$2.097 21.9% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
BTN . CCP . CGR . EML . EPY . FND . FSA . HUM . JDO . LFS . MME . PGL . PLT . PNC . PPM . QAL . SIV . SVR . TYR . WZR . XYZ . ZIP .
FNARENA'S MARKET CONSENSUS FORECASTS
COG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 9.4 13.7 xxx
DPS (cps) xxx 6.0 7.2 xxx
EPS Growth xxx 41.1% 45.6% xxx
DPS Growth xxx - 28.6% 19.4% xxx
PE Ratio xxx N/A 12.0 xxx
Dividend Yield xxx N/A 4.3% xxx
Div Pay Ratio(%) xxx 63.8% 52.3% xxx

Dividend yield today if purchased 3 years ago: 4.23%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.64

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: 23/09 - ex-div 0.15c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx9.4
DPS All xxxxxxxxxxxxxxx6.0
Sales/Revenue xxxxxxxxxxxxxxx367.7 M
Book Value Per Share xxxxxxxxxxxxxxx75.3
Net Operating Cash Flow xxxxxxxxxxxxxxx49.3 M
Net Profit Margin xxxxxxxxxxxxxxx5.11 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx12.36 %
Return on Invested Capital xxxxxxxxxxxxxxx6.30 %
Return on Assets xxxxxxxxxxxxxxx2.72 %
Return on Equity xxxxxxxxxxxxxxx12.36 %
Return on Total Capital xxxxxxxxxxxxxxx10.61 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx31.3 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 xxxxxxxxxxxxxxx234 M
Long Term Debt xxxxxxxxxxxxxxx142 M
Total Debt xxxxxxxxxxxxxxx376 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx149 M
Price To Book Value xxxxxxxxxxxxxxx2.12

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 xxxxxxxxxxxxxxx1.58 %
Cost of Goods Sold xxxxxxxxxxxxxxx185 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx121 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx8 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

1.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Morgans

27/02/2026

1

Buy

$2.09

21.51%

COG Financial Services' underlying 1H26 NPAT improved 11% y/y, still -9% below Morgans’ forecast, with group revenue up 8% and slightly under expectations.

Salary Packaging was the standout, commentary suggests, with revenue up 41% and EBITDA growth of a similar magnitude, driven by a balanced mix of organic growth and acquisitions, while increased equity ownership lifted earnings to shareholders by 63%.

Broking and Aggregation delivered modest 3% revenue growth. EBITDA declined -1% on margin compression and higher investment spend, prompting Morgans to trim margin assumptions.

Morgans cuts FY26 and FY27 EPS forecasts by -4% to -5%, and lowers its target price to $2.09 from $2.57. Buy retained.

FORECAST
Morgans forecasts a full year FY26 dividend of 7.50 cents and EPS of 11.00 cents.
Morgans forecasts a full year FY27 dividend of 8.40 cents and EPS of 9.90 cents.

Ord Minnett

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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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

Shaw and Partners

07/05/2026

1

Buy

$2.45

42.44%

Shaw and Partners maintains a Buy rating and $2.45 target price for COG Financial Services following confirmation the Federal Government will extend the Fringe Benefit Tax (FBT) exemption on electric vehicles (EVs) until 2029.

The broker makes no material changes to earnings in this report, noting the company continues to screen as attractive while trading on a FY27 free cash flow yield of 17%.

For the leasing division, which represents 43% of group FY27 earnings, the broker assumes 12% volume growth supported by the recent EasiFleet acquisition and high EV demand.

The broking and aggregation division is expected to grow total assets financed by 5%, as small-to-medium enterprises rely more heavily on credit during tougher commercial environments.

Overall, the broker concludes the current share price does not yet reflect the significant value created through recent strategic acquisitions, which are projected to drive double-digit earnings growth through FY28.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 8.00 cents and EPS of 14.70 cents.
Shaw and Partners forecasts a full year FY27 dividend of 9.20 cents and EPS of 17.80 cents.
Access Extra Coverage Research History >

COG STOCK CHART

FNArena News on COG

1
Australian Broker Call *Extra* Edition – May 07, 2026

May 07 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Mar 16, 2026

Mar 16 2026 - Daily Market Reports
3
Weekly Ratings, Targets, Forecast Changes – 27-02-26

Mar 02 2026 - Weekly Reports
4
FNArena Corporate Results Monitor – 27-02-2026

Feb 27 2026 - Australia
5
Weekly Ratings, Targets, Forecast Changes – 23-01-26

Jan 27 2026 - Weekly Reports

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