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: 0.39
Index: ASX300 | ALL-ORDS | ALL-TECH

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.79

22 Apr
2026

-0.040

OPEN

$0.82

-4.82%

HIGH

$0.83

1,507,295

LOW

$0.78

TARGET
$1.057 33.8% upside
OTHER COMPANIES IN THE SAME SECTOR
BTN . CCP . CGR . COG . EML . EPY . FND . FSA . HUM . JDO . LFS . MME . PGL . PLT . PNC . PPM . QAL . SIV . SVR . WZR . XYZ . ZIP .
FNARENA'S MARKET CONSENSUS FORECASTS
TYR: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 3.4 4.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx - 31.0% 29.8% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 17.7 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 © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx3.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx485.6 M
Book Value Per Share xxxxxxxxxxxxxxx43.2
Net Operating Cash Flow xxxxxxxxxxxxxxx145.8 M
Net Profit Margin xxxxxxxxxxxxxxx3.67 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx8.20 %
Return on Invested Capital xxxxxxxxxxxxxxx7.34 %
Return on Assets xxxxxxxxxxxxxxx3.57 %
Return on Equity xxxxxxxxxxxxxxx8.20 %
Return on Total Capital xxxxxxxxxxxxxxx8.09 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx145.0 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 xxxxxxxxxxxxxxx4 M
Long Term Debt xxxxxxxxxxxxxxx24 M
Total Debt xxxxxxxxxxxxxxx28 M
Goodwill - Gross xxxxxxxxxxxxxxx14 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx208 M
Price To Book Value xxxxxxxxxxxxxxx2.04

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx11.1 M
Capex % of Sales xxxxxxxxxxxxxxx2.28 %
Cost of Goods Sold xxxxxxxxxxxxxxx305 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx155 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx131 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

0.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

02/03/2026

3

Neutral

$0.92

16.46%

Tyro Payments delivered 1H26 operating earnings (EBITDA) up 19.7% y/y and 12% ahead of consensus, driven by 6.0% gross profit growth and margin expansion of 4.1ppts to 33.6%, Macquarie notes.

Gross payment margin improved by 0.8bps to 45.5bps on lower scheme and interchange fees, while operating leverage was supported by 5% gross profit growth and a -2.9% decline in opex.

Free cash flow rose 51.8% and available funds of $141m provide capacity for internal investment and M&A, with FY26 gross profit guidance of $230–240m and earnings (EBITDA) margin of 28.5–30.0% reiterated.

EPS forecasts are raised by 9% in FY26 and 2% in FY27, but longer-term forecasts are trimmed on softer medium-term cash flow assumptions and notes 2H26 headwinds from bulk billing incentives and higher AML-related costs.

Neutral retained, target reduced to $0.92 from $1.23.

FORECAST
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.10 cents.
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of 4.30 cents.

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
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

Canaccord Genuity

07/04/2026

1

Buy

$1.60

102.53%

Canaccord Genuity maintains a Buy rating for Tyro Payments with $1.60 price target following the Reserve Bank of Australia’s (RBA) final conclusions on merchant card payment costs.

October 2026 implementation removes merchant surcharging and reduces interchange fees —with credit capped at 30bps and debit at 8cpt— yielding a net-neutral gross profit impact as lower revenue is offset by reduced cost of goods sold, the report concludes.

Canaccord Genuity highlights only 30% of Tyro merchants voluntarily surcharge, limiting churn risk, while increased fee transparency for large acquirers favours Tyro’s competitive positioning.

FY26 EBITDA guidance of $66m-$72m remains unchanged. Potential margin upside persists if incumbent banks are slow to reprice to recoup lost revenue, with a $100m net cash position providing significant strategic flexibility.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.80 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 6.90 cents.
Access Extra Coverage Research History >

TYR STOCK CHART

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