AUDINATE GROUP LIMITED (AD8)
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AD8 - AUDINATE GROUP LIMITED

FNArena Sector : Hardware & Equipment
Year End: June
GICS Industry Group : Technology Hardware & Equipment
Debt/EBITDA: 0.17
Index: ASX200 | ASX300 | ALL-ORDS | ALL-TECH

Audinate is a global provider of professional digital audio networking technology. Its Dante platform distributes digital audio and visual signals over computer networks. The company listed in 2017.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$8.72

02 Dec
2024

-0.110

OPEN

$8.98

-1.25%

HIGH

$9.07

183,002

LOW

$8.68

TARGET
$10.475 20.1% upside
OTHER COMPANIES IN THE SAME SECTOR
4DS . AKP . AVA . BLG . CDA . CYG . DDR . DRO . EOS . HTG . IKE . SEN . SLX . SPZ . TZL . WBT .
FNARENA'S MARKET CONSENSUS FORECASTS
AD8: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 12.5 - 6.3 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx - 9.1% N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A 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 © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx12.5
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx91.5 M
Book Value Per Share xxxxxxxxxxxxxxx205.1
Net Operating Cash Flow xxxxxxxxxxxxxxx25.4 M
Net Profit Margin xxxxxxxxxxxxxxx11.19 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx7.85 %
Return on Invested Capital xxxxxxxxxxxxxxx7.73 %
Return on Assets xxxxxxxxxxxxxxx6.91 %
Return on Equity xxxxxxxxxxxxxxx7.85 %
Return on Total Capital xxxxxxxxxxxxxxx6.19 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx24.6 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 xxxxxxxxxxxxxxx1 M
Long Term Debt xxxxxxxxxxxxxxx2 M
Total Debt xxxxxxxxxxxxxxx3 M
Goodwill - Gross xxxxxxxxxxxxxxx9 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx117 M
Price To Book Value xxxxxxxxxxxxxxx7.72

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx14.9 M
Capex % of Sales xxxxxxxxxxxxxxx16.28 %
Cost of Goods Sold xxxxxxxxxxxxxxx70 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx13 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

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

Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Shaw and Partners

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

23/10/2024

3

Neutral

$12.20

39.91%

UBS maintains its faith in the longer-term fundamentals of Audinate Group but recognises near-term uncertainties need to be worked through after a "soft" 1Q update by management.

The analysts always felt Q1 would be the weakest quarter due to prior over-ordering by customers. Lower gross profit guidance was the result of ongoing challenges including softer demand, shorter lead times and increased inventory, explains the broker.

Incremental positives, according to UBS, include Dante certification and training programs remaining strong, and 2H new AVIO products and a premium version of Dante Virtual Scorecard are expected to contribute to 2H25 earnings.

The $12.20 target and Neutral rating are maintained.

FORECAST
UBS forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.00 cents.
UBS forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Moelis

23/10/2024

3

Hold

$9.45

8.37%

Earlier in October Moelis initiated coverage with a Hold rating due to an opaque near-term outlook as supply chains normalise following covid. It was felt earnings will be skewed to the 2H of FY25. 

This week's trading update provided at the company's AGM has played to that script with Audinate Group effectively issuing yet another profit warning as buying orders continue to underwhelm management's expectation.

Q2 is now looking like Q1, so no improvement is anticipated until H2. Moelis has reduced forecasts, highlighting with no cost relief the impact on earnings is expected to be "significant".

Commentary broadly suggests a year of transition for the company can still involve more negative outcomes as clarity is not around. Hold. Target price falls to $9.45. Revised forecasts now see two years of Audinate reporting losses.

FORECAST
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -11.80 cents.
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -2.00 cents.
Access Extra Coverage Research History >

AD8 STOCK CHART

FNArena News on AD8

1
Rudi’s View: Confidence In Quality Rewarded

Nov 27 2024 - Rudi's View
2
Weekly Ratings, Targets, Forecast Changes – 08-11-24

Nov 11 2024 - Weekly Reports
3
Rudi’s View: Mate, Where Have The Profits Gone?

Nov 06 2024 - Rudi's View
4
Rudi’s View: Dealing With Risk

Oct 30 2024 - Rudi's View
5
Australian Broker Call *Extra* Edition – Oct 28, 2024

Oct 28 2024 - Daily Market Reports

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