PIONEER CREDIT LIMITED (PNC)
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PNC

PNC - PIONEER CREDIT LIMITED

FNArena Sector : Business & Consumer Credit
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 7.2
Index:

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.59

03 Sep
2025

0.000

OPEN

$0.58

0.000

HIGH

$0.59

136,666

LOW

$0.58

TARGET
$0.80 35.6% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
PNC: 1
Title FY24
Actual
FY25
Actual
FY26
Forecast
FY27
Forecast
EPS (cps) xxx 4.4 10.2 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 5.6 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

0.00

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: 29/03 - ex-div 4.3c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx4.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx88.7 M
Book Value Per Share xxxxxxxxxxxxxxx38.0
Net Operating Cash Flow xxxxxxxxxxxxxxx-19.7 M
Net Profit Margin xxxxxxxxxxxxxxx7.51 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx12.72 %
Return on Invested Capital xxxxxxxxxxxxxxx3.05 %
Return on Assets xxxxxxxxxxxxxxx1.76 %
Return on Equity xxxxxxxxxxxxxxx12.72 %
Return on Total Capital xxxxxxxxxxxxxxx11.50 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-19.8 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 xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx292 M
Total Debt xxxxxxxxxxxxxxx300 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx120 M
Price To Book Value xxxxxxxxxxxxxxx1.30

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx0.2 M
Capex % of Sales xxxxxxxxxxxxxxx0.24 %
Cost of Goods Sold xxxxxxxxxxxxxxx5 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx44 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx226 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

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Shaw and Partners

28/08/2025

1

Buy

$0.80

35.59%

Pioneer Credit reported FY25 cash collection up 1% to $142m, which missed Shaw and Partners' forecast and was attributed to the timing of debt portfolio purchases, with considerable purchases made in 4Q25 which left little time for collections.

The FY25 cost-to-serve ratio at 32% versus forecast at 35% was a positive surprise.

This offers some confidence to the analyst around FY26 collections, and management guided to FY26 net profit after tax of $18m, a rise of 80% on the just released FY25 result, as well as positive free cash flow for the current fiscal year.

Shaw and Partners expects procurement of $95m in debt portfolios in FY26 versus $69m in FY25.

Buy, High Risk. Target unchanged at 80c.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 10.20 cents.
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 11.10 cents.

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

Wilsons

03/09/2025

1

Overweight

$0.82

38.98%

Wilsons highlights stronger-than-expected growth in Pioneer Credit's FY25 net profit, with $10.5m recorded vs guidance of $9m, and $1.2m in FY24.

The broker expects the net profit recovery to extend into FY26, underpinned by a meaningfully improved funding structure, lower cost to serve and disciplined execution on attractively priced PDP (purchased debt portfolio) acquisitions.

Upside risk comes from a major bank that appears to have been out of market since 2017, opening a large PDP opportunity.

Overall, the broker remains of the view the stock is an attractive turnaround play.

Overweight. Target rises to 87c from 82c..

FORECAST
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 11.50 cents.
Wilsons forecasts a full year FY27 dividend of 0.00 cents and EPS of 12.30 cents.

PNC STOCK CHART