CENTURIA CAPITAL GROUP (CNI)
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CNI

CNI - CENTURIA CAPITAL GROUP

FNArena Sector : Diversified Financials
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 5.8
Index: ASX200 | ASX300 | ALL-ORDS

Centuria Capital is an Australian investment manager specialising in real estate and investment bonds. Formed in 1999, the company listed on the ASX in 2002.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.32

03 Sep
2025

-0.070

OPEN

$2.38

-2.93%

HIGH

$2.39

1,454,088

LOW

$2.29

TARGET
$2.118 -8.7% downside
Franking for last dividend paid out: 15%
OTHER COMPANIES IN THE SAME SECTOR
B4P . BFG . CCL . CCR . CPU . CVC . EQT . EZL . FID . HMY . LFG . OBL . OFX . SGH . SOL .
FNARENA'S MARKET CONSENSUS FORECASTS
CNI: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 10.0 13.7 xxx
DPS (cps) xxx 10.4 10.3 xxx
EPS Growth xxx - 21.1% 37.4% xxx
DPS Growth xxx 4.0% - 1.3% xxx
PE Ratio xxx N/A 17.1 xxx
Dividend Yield xxx N/A 4.4% xxx
Div Pay Ratio(%) xxx 104.3% 74.9% xxx

Dividend yield today if purchased 3 years ago: 5.78%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.44

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: 30/12 - ex-div 5.20c (franking 21%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx10.0
DPS All xxxxxxxxxxxxxxx10.4
Sales/Revenue xxxxxxxxxxxxxxx431.8 M
Book Value Per Share xxxxxxxxxxxxxxx178.6
Net Operating Cash Flow xxxxxxxxxxxxxxx116.7 M
Net Profit Margin xxxxxxxxxxxxxxx19.15 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx5.59 %
Return on Invested Capital xxxxxxxxxxxxxxx2.93 %
Return on Assets xxxxxxxxxxxxxxx2.36 %
Return on Equity xxxxxxxxxxxxxxx5.59 %
Return on Total Capital xxxxxxxxxxxxxxx8.24 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-3.0 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 xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx1,418 M
Total Debt xxxxxxxxxxxxxxx1,418 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx214 M
Price To Book Value xxxxxxxxxxxxxxx0.94

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx33.9 M
Capex % of Sales xxxxxxxxxxxxxxx7.86 %
Cost of Goods Sold xxxxxxxxxxxxxxx71 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx127 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,008 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

0.3

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxx xx xxxxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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UBS

20/08/2025

3

Neutral

$2.10

-9.48%

Centuria Capital's FY25 operating profit was 1% ahead of UBS despite costs relating to ResetData. The result saw strong cash conversion of 116% in contrast to 1H25 at 26%. FY26 earnings guidance is 3% ahead of consensus.

UBS revises its FY26-30 earnings forecast to reflect a more benign interest rate environment, supporting better asset under management growth and improved asset values.

The broker sees FY26-29 earnings CAGR at 4.3% with potential upside should Centuria be in a position to launch new planned listed funds and other growth initiatives over FY26-27.

Despite the strong momentum shown in the result, UBS retains Neutral given recent strong price performance already somewhat reflecting the better macro backdrop. Target rises to $2.10 from $1.81.

FORECAST
UBS forecasts a full year FY26 dividend of 10.00 cents and EPS of 14.00 cents.
UBS forecasts a full year FY27 dividend of 11.00 cents and EPS of 15.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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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

Moelis

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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

Jarden

23/06/2025

3

Neutral

$1.85

-20.26%

Jarden maintains a Neutral rating on Centuria Capital (CNI), with a $1.85 price target and no changes to earnings forecasts.

The broker observes Centuria Capital continues to trade at a material discount to peers, currently at 13.4x forward P/AFFO versus 21.1–26.7x for fund managers such as Charter Hall ((CHC)) and Qualitas ((QAL)).

Jarden identifies three catalysts that could help close the valuation gap: a recovery in commercial property transaction volumes, upside to consensus Real Estate AUM growth forecasts, and momentum in Real Estate Finance via Centuria Bass Credit, now 11.7% of group AUM.

Bass Credit has delivered a 79% AUM CAGR since FY21, with the broker forecasting 14.6% growth through to FY30 and estimating each additional $500m in AUM could add 5%-10% to OEPS.

Despite these positives, investor concerns around capital structure and disclosure transparency persist, and Jarden suggests further headstock-level detail on Bass Credit could enhance confidence

FORECAST
Jarden forecasts a full year FY26 dividend of 11.00 cents and EPS of 12.70 cents.
Access Extra Coverage Research History >

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