NETWEALTH GROUP LIMITED (NWL)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

NWL

NWL - NETWEALTH GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 0.13
Index: ASX200 | ASX300 | ALL-ORDS

Netwealth is an Australian financial platform operator offering superannuation, retirement, investment and managed account facilities. Founded in 1999 it became a listed company in 2017.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$26.25

27 Mar
2025

-1.300

OPEN

$27.30

-4.72%

HIGH

$27.30

445,009

LOW

$26.08

TARGET
$31.157 18.7% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . AVC . BVS . CGF . CVW . DJW . ENN . GDC . GDG . GQG . HMC . HUB . IFL . IFT . IRE . KAM . KSL . MAF . MFG . MQG . NGI . PAC . PNI . PPS . PPT . PTM . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
NWL: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 34.2 46.5 xxx
DPS (cps) xxx 28.0 37.3 xxx
EPS Growth xxx 24.0% 36.1% xxx
DPS Growth xxx 16.7% 33.1% xxx
PE Ratio xxx N/A 56.9 xxx
Dividend Yield xxx N/A 1.4% xxx
Div Pay Ratio(%) xxx 82.0% 80.1% xxx

Dividend yield today if purchased 3 years ago: 1.93%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.06

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: 26/08 - ex-div 14c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx34.2
DPS All xxxxxxxxxxxxxxx28.0
Sales/Revenue xxxxxxxxxxxxxxx249.5 M
Book Value Per Share xxxxxxxxxxxxxxx59.2
Net Operating Cash Flow xxxxxxxxxxxxxxx90.0 M
Net Profit Margin xxxxxxxxxxxxxxx33.41 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx62.32 %
Return on Invested Capital xxxxxxxxxxxxxxx56.94 %
Return on Assets xxxxxxxxxxxxxxx47.45 %
Return on Equity xxxxxxxxxxxxxxx62.32 %
Return on Total Capital xxxxxxxxxxxxxxx78.07 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx23.3 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx2 M
Long Term Debt xxxxxxxxxxxxxxx13 M
Total Debt xxxxxxxxxxxxxxx15 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx127 M
Price To Book Value xxxxxxxxxxxxxxx37.44

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx4.9 M
Capex % of Sales xxxxxxxxxxxxxxx1.97 %
Cost of Goods Sold xxxxxxxxxxxxxxx103 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx31 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx4 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

0.1

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

21/02/2025

3

Neutral

$30.70

16.95%

Following the earnings call with management, Citi detected negative overtones given highlighted pricing pressure and cost reinvestment, which is a risk to consider over the medium- term as the advice industry consolidates, the broker argues.

Target $30.70. Neutral.

A summary of Citi's initial research yesterday follows.

Citi highlights Netwealth Group reported stronger-than-expected 1H net profit growth, up 25% year-on-year at first glance, which was 15% above forecast and 12% in excess of the consensus estimate due to a lower effective tax rate and more robust revenue growth.

On first take, the broker points to a positive start to 3Q25, but net flows appear to have plateaued, the analyst questions, and this will be a focus for the earnings call.

Opex came in higher than expected, up 20%, with IT & Comms spend rising 40% year-on-year, while net adviser adds fell by -126 in 2H24.

FORECAST
Citi forecasts a full year FY25 dividend of 35.70 cents and EPS of 43.60 cents.
Citi forecasts a full year FY26 dividend of 43.30 cents and EPS of 52.70 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx 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

3

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

xx/xx/xxxx

4

xxxxxxxxxxx

$xx.xx

xx.xx%

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Wilsons

25/02/2025

3

Market Weight

$32.54

23.96%

Wilsons analysts have maintained a Market Weight rating on Netwealth Group, raising their price target to $32.54 from $31.65.

The company’s 1H25 financial result was better than expected, with revenue of $155.4m exceeding forecasts by 4%, EBITDA of $78.0m beating by 6%, and EPS of 23.5c coming in 16% ahead, driven by strong transactional activity and a lower tax rate.

Funds under administration increased by $4.5bn year-to-date, though net flows have softened due to seasonally weak January inflows.

Management remained cautious on FY26 cost expectations, which the broker sees as a key risk to upgrading the stock. Wilsons acknowledges the strong growth outlook but stays at Market Weight due to valuation concerns.

FORECAST
Wilsons forecasts a full year FY25 dividend of 36.00 cents and EPS of 47.40 cents.
Wilsons forecasts a full year FY26 dividend of 44.00 cents and EPS of 55.30 cents.

Canaccord Genuity

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

NWL STOCK CHART

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