SOLVAR LIMITED (SVR)
Share Price Analysis and Chart

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

01/09/2025

2

Accumulate

$1.85

17.83%

Solvar’s FY25 result was broadly in line with Morgans' expectations. The group's loan book contracted -2.2% year on year with growth in Australian receivables offset by a run-off of its discontinued NZ operations.

Net interest income was down -3.6% year on year.

While the group has seen some near-term contraction in its loan book, due to the wind down of its NZ business, Morgans sees the non-bank lender as being well positioned to become a medium-term turnaround story.

Target rises to $1.85 from $1.75, Accumulate retained.

FORECAST
Morgans forecasts a full year FY26 dividend of 14.00 cents and EPS of 17.00 cents.
Morgans forecasts a full year FY27 dividend of 12.00 cents and EPS of 18.00 cents.

11/09/2025

1

Buy

$2.00

27.39%

Canaccord Genuity notes ASIC was only partially successful in its case against Solvar's subsidiary Money3 Loans, finding limited contraventions of the responsible lending provisions in the relevant Act.

The hearing was adjourned for submission on relief, and the Court will then deliberate on penalties payable by Money3 and orders on legal costs.

The broker believes that while there will be penalties, the ruling has reduced the threat of a major compliance or structural issue for the company.

Buy. Target unchanged at $2.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 12.00 cents and EPS of 17.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 13.00 cents and EPS of 19.00 cents.