TYRO PAYMENTS LIMITED (TYR)
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TYR

TYR - TYRO PAYMENTS LIMITED

FNArena Sector : Business & Consumer Credit
Year End: June
GICS Industry Group : Software & Services
Debt/EBITDA: 0.4
Index: ASX300 | ALL-ORDS | ALL-TECH

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.98

24 Jul
2025

0.010

OPEN

$0.97

1.03%

HIGH

$0.99

3,689,174

LOW

$0.96

TARGET
$1.33 35.7% upside
OTHER COMPANIES IN THE SAME SECTOR
BTN . CCP . CGR . COG . EML . EPY . FND . FSA . HUM . JDO . LFS . MME . PLT . PPM . QAL . SIV . SMP . SVR . WZR . XYZ . ZIP .
FNARENA'S MARKET CONSENSUS FORECASTS
TYR: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 4.9 3.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 100.0% - 30.2% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 28.9 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
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx4.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx471.5 M
Book Value Per Share xxxxxxxxxxxxxxx39.6
Net Operating Cash Flow xxxxxxxxxxxxxxx48.8 M
Net Profit Margin xxxxxxxxxxxxxxx5.45 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx13.34 %
Return on Invested Capital xxxxxxxxxxxxxxx11.65 %
Return on Assets xxxxxxxxxxxxxxx5.83 %
Return on Equity xxxxxxxxxxxxxxx13.34 %
Return on Total Capital xxxxxxxxxxxxxxx14.44 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx47.8 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx5 M
Long Term Debt xxxxxxxxxxxxxxx27 M
Total Debt xxxxxxxxxxxxxxx32 M
Goodwill - Gross xxxxxxxxxxxxxxx14 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx102 M
Price To Book Value xxxxxxxxxxxxxxx2.51

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx13.3 M
Capex % of Sales xxxxxxxxxxxxxxx2.81 %
Cost of Goods Sold xxxxxxxxxxxxxxx298 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx137 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx107 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

0.8

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Shaw and Partners

18/03/2025

1

Buy

$1.60

63.27%

Shaw and Partners notes Tyro Payments made a conditional offer to acquire SmartPay Holdings ((SMP)) via a combination of shares and cash.

SmartPay also received another offer from an unnamed company, speculated to be Shift4 Payments based on a newspaper article.

The broker believes the SmartPay and Tyro combination makes sense with $4.4m synergies and a likely 15% EPS accretion in FY26 based on a 75% scrip and 25% cash deal.

The broker reckons Shift4 has deep pockets and seeks a foothold in the Australia/NZ market. 

The broker sees risks from a regulatory standpoint including full surcharge ban, integration costs and Tyro's past experience with Bendigo Bank ((BEN)). The broker views a risk from ACCC blocking the deal as unlikely.

No change to $1.60 target price and Buy rating.

FORECAST
Shaw and Partners forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.50 cents.
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.80 cents.

Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$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

Wilsons

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

07/04/2025

1

Buy

$1.65

68.37%

Canaccord Genuity hosted a briefing with Tyro Payments' management to gain deeper insights into the rationale for Smartpay Holdings ((SMP)) takeover and the company's plans to expand into the Aged Care vertical.

The broker notes the company's plans to enter three verticals in 2025 translates to $200m revenue from a combined addressable market of $21bn, with gross margin estimate of over 50%.

With the Smartpay takeover, the broker estimates cost synergies of $25-35m, which would push up the combined entitiies' FY26 EBITDA forecast to $117m and FY27 to $134m. The broker also expects valuation to fall to 4.7x and 4x times respectively, which is well below listed payment peers of 12.5x.

Buy retained. Target unchanged at $1.65.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.50 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.70 cents.
Access Extra Coverage Research History >

TYR STOCK CHART

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