NETWEALTH GROUP LIMITED (NWL)
Share Price Analysis and Chart

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NWL

NWL - NETWEALTH GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 0.09
Index: ASX100 | 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

$26.89

25 Dec
2025

0.000

OPEN

$26.89

0.000

HIGH

$26.89

0

LOW

$26.89

TARGET
$33.347 24.0% upside
Franking for last dividend paid out: 100%
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 . MQG . NGI . PAC . PNI . PPS . PPT . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
NWL: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 47.6 54.8 xxx
DPS (cps) xxx 38.5 43.8 xxx
EPS Growth xxx 39.4% 15.1% xxx
DPS Growth xxx 37.5% 13.7% xxx
PE Ratio xxx N/A 49.0 xxx
Dividend Yield xxx N/A 1.6% xxx
Div Pay Ratio(%) xxx 80.8% 79.8% xxx

Dividend yield today if purchased 3 years ago: 3.20%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.43

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 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx47.6
DPS All xxxxxxxxxxxxxxx38.5
Sales/Revenue xxxxxxxxxxxxxxx316.4 M
Book Value Per Share xxxxxxxxxxxxxxx81.3
Net Operating Cash Flow xxxxxxxxxxxxxxx126.8 M
Net Profit Margin xxxxxxxxxxxxxxx36.83 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx67.81 %
Return on Invested Capital xxxxxxxxxxxxxxx63.27 %
Return on Assets xxxxxxxxxxxxxxx52.16 %
Return on Equity xxxxxxxxxxxxxxx67.81 %
Return on Total Capital xxxxxxxxxxxxxxx80.46 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx48.2 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 M
Long Term Debt xxxxxxxxxxxxxxx12 M
Total Debt xxxxxxxxxxxxxxx14 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx173 M
Price To Book Value xxxxxxxxxxxxxxx41.33

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx7.9 M
Capex % of Sales xxxxxxxxxxxxxxx2.50 %
Cost of Goods Sold xxxxxxxxxxxxxxx124 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx42 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

0.4

No. Of Recommendations

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

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Bell Potter

12/12/2025

1

Upgrade to Buy from Hold

$31.50

17.14%

Bell Potter upgrades Netwealth Group to Buy from Hold with a higher target price of $31.50 from $30. The broker views the discounted valuation multiple ascribed to the stock as unwarranted.

Further, management has updated FUA to $123.8bn for Nov 10, and net flows are expected to come in around FY25 levels, which consensus estimates mirror.

The broker highlights First Guardian continues to weigh on the stock, but if net flows are retained, the company will be in a position to beat guidance and possibly consensus expectations.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 46.00 cents and EPS of 53.90 cents.
Bell Potter forecasts a full year FY27 dividend of 52.00 cents and EPS of 64.40 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

28/10/2025

2

Overweight

$33.10

23.09%

Netwealth Group is, according to Jarden, well positioned to navigate risks associated with the First Guardian collapse. The company has formally applied for government financial assistance under the Superannuation Industry Supervision (SIS) Act.

Management maintains the view the issue is one of fraud, contrasting with Macquarie Group ((MQG))’s proactive remediation stance.

Jarden believes short-term impacts will be manageable, with potential government compensation partly offsetting exposure of $101m, or 0.1% of total funds under administration (FUM).

Longer term, the broker expects established platform providers such as Netwealth and Hub24 ((HUB)) to benefit from higher regulatory barriers.

Jarden retains its Overweight rating and $33.10 target price.

FORECAST
Jarden forecasts a full year FY26 dividend of 48.90 cents and EPS of 58.20 cents.
Jarden forecasts a full year FY27 dividend of 58.30 cents and EPS of 69.40 cents.
Access Extra Coverage Research History >

NWL STOCK CHART

FNArena News on NWL

1
Australian Broker Call *Extra* Edition – Dec 24, 2025

Dec 24 2025 - Daily Market Reports
2
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