MACQUARIE GROUP LIMITED (MQG)
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MQG

MQG - MACQUARIE GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: March
GICS Industry Group : Diversified Financials
Debt/EBITDA: N/A
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Macquarie Group is an Australian multinational investment bank and financial services company operating in 25 countries. It is one of the world's largest infrastructure asset managers with over $495bn in AUM. It was founded in 1969 and listed in November 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$200.58

14 Nov
2025

-4.520

OPEN

$202.39

-2.20%

HIGH

$202.79

865,647

LOW

$199.54

TARGET
$222.20 10.8% upside
Franking for last dividend paid out: 35%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . BVS . CGF . CVW . DJW . ENN . GDG . GQG . HMC . HUB . IFL . IFT . IRE . KAM . KSL . MAF . MFG . NGI . NWL . PAC . PNI . PPS . PPT . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
MQG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 979.4 1085.0 xxx
DPS (cps) xxx 650.0 701.5 xxx
EPS Growth xxx 6.9% 10.8% xxx
DPS Growth xxx 1.6% 7.9% xxx
PE Ratio xxx N/A 18.5 xxx
Dividend Yield xxx N/A 3.5% xxx
Div Pay Ratio(%) xxx 66.4% 64.7% xxx

Dividend yield today if purchased 3 years ago: 3.65%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.24

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: 13/05 - ex-div 385c (franking 40%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx979.4
DPS All xxxxxxxxxxxxxxx650.0
Sales/Revenue xxxxxxxxxxxxxxx32,008.0 M
Book Value Per Share xxxxxxxxxxxxxxx9,696.3
Net Operating Cash Flow xxxxxxxxxxxxxxx2,878.0 M
Net Profit Margin xxxxxxxxxxxxxxx11.19 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx10.41 %
Return on Invested Capital xxxxxxxxxxxxxxx2.95 %
Return on Assets xxxxxxxxxxxxxxx0.84 %
Return on Equity xxxxxxxxxxxxxxx10.41 %
Return on Total Capital xxxxxxxxxxxxxxx1.67 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-374.0 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 xxxxxxxxxxxxxxx69,177 M
Long Term Debt xxxxxxxxxxxxxxx88,270 M
Total Debt xxxxxxxxxxxxxxx157,447 M
Goodwill - Gross xxxxxxxxxxxxxxx1,159 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx92,964 M
Price To Book Value xxxxxxxxxxxxxxx2.03

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx1,065.0 M
Capex % of Sales xxxxxxxxxxxxxxx3.33 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4,947 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx80,760 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

0.2

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

10/11/2025

3

Neutral

$225.00

12.17%

Macquarie Group’s 1H26 profit of $1.7bn came in about -10% below the consensus expectation, UBS says, with a dividend of 280c and return on tangible equity of 10.2%.

The broker notes higher Commodities and Global Markets (CGM) costs and a -$150m green energy impairment drove the miss. This was partly offset by earlier recognition of performance fees in Macquarie Asset Management (MAM).

Profitability has fallen to multi-decade lows of around 10%, note the analysts. However, FY26 guidance remains unchanged despite weaker composition across divisions.

EPS forecasts are cut by -1%, -7% and -2%, respectively, for FY26-28 due to softer CGM and corporate drag.

UBS retains a Neutral rating and target of $225.

FORECAST
UBS forecasts a full year FY26 dividend of 670.00 cents and EPS of 1069.00 cents.
UBS forecasts a full year FY27 dividend of 720.00 cents and EPS of 1151.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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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

Jarden

13/11/2025

2

Upgrade to Overweight from Underweight

$200.00

-0.29%

After reviewing 1H results, Jarden believes Macquarie Group is entering a transition phase, with recent divestments providing improved earnings visibility.

The broker highlights the agreed sale of Macquarie Asset Management's (MAM’s) stake in Aligned Data Centers, which secures around three years of performance fees.

MAM has stabilised, according to the analysts, with proceeds from selling its US and European public investments business to Nomura to be redeployed into private markets. A solid capital markets pipeline is believed to support Macquarie Capital (MacCap).

Jarden lifts its FY26-28 cash earnings by up to 5%, upgrading to Overweight from Underweight with an unchanged $200 target.

FORECAST
Jarden forecasts a full year FY26 dividend of 700.00 cents and EPS of 1091.40 cents.
Jarden forecasts a full year FY27 dividend of 830.00 cents and EPS of 1296.40 cents.
Access Extra Coverage Research History >

MQG STOCK CHART

FNArena News on MQG

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 14-11-25

Nov 14 2025 - Weekly Reports
2
Rudi’s View: Antipa, Computershare, IPH, Lynas, Macquarie, Rio Tinto & More

Nov 13 2025 - Rudi's View
3
Australian Broker Call *Extra* Edition – Nov 13, 2025

Nov 13 2025 - Daily Market Reports
4
Macquarie Group: Not As Bad As It Looks

Nov 11 2025 - Australia
5
FNArena Corporate Results Monitor – 10-11-2025

Nov 10 2025 - Australia

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