HIPAGES GROUP HOLDINGS LIMITED (HPG)
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HPG

HPG - HIPAGES GROUP HOLDINGS LIMITED

FNArena Sector : Online media & mobile platforms
Year End: June
GICS Industry Group : Commercial & Professional Services
Debt/EBITDA: 0.46
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.27

04 Sep
2025

0.020

OPEN

$1.28

1.60%

HIGH

$1.29

17,717

LOW

$1.25

TARGET
$2.085 64.2% upside
OTHER COMPANIES IN THE SAME SECTOR
ART . CAR . CTT . FDV . REA . RMY . SEK .
FNARENA'S MARKET CONSENSUS FORECASTS
HPG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 1.8 4.6 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx - 33.0% 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 27.6 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 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx1.8
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx83.1 M
Book Value Per Share xxxxxxxxxxxxxxx32.2
Net Operating Cash Flow xxxxxxxxxxxxxxx22.5 M
Net Profit Margin xxxxxxxxxxxxxxx2.87 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx5.84 %
Return on Invested Capital xxxxxxxxxxxxxxx4.92 %
Return on Assets xxxxxxxxxxxxxxx3.63 %
Return on Equity xxxxxxxxxxxxxxx5.84 %
Return on Total Capital xxxxxxxxxxxxxxx3.22 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx21.9 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 xxxxxxxxxxxxxxx2 M
Long Term Debt xxxxxxxxxxxxxxx7 M
Total Debt xxxxxxxxxxxxxxx9 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx26 M
Price To Book Value xxxxxxxxxxxxxxx2.90

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx15.0 M
Capex % of Sales xxxxxxxxxxxxxxx18.02 %
Cost of Goods Sold xxxxxxxxxxxxxxx82 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx0 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

0.5

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Shaw and Partners

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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

25/08/2025

3

Equal-weight

$1.37

7.87%

hippages Group delivered a solid FY25 result, assesses Morgan Stanley, with revenue up 10% to $83m and earnings (EBITDA) up 20% to $20m, broadly in line with expectations.

Free cash flow (FCF) rose 162% to $5.6m, reflecting operating leverage and efficiency gains, explains the broker.

Average revenue per user (ARPU) grew 9% to $2,267. Subscriber numbers were flat, with growth in Australia offset by a decline in New Zealand as the subscription model was introduced, point out the analysts.

All Australian tradie customers were migrated to the Tradiecore platform, with 13% adopting job management features, highlights the broker.

FY26 guidance is for 10-12% earnings growth at a 24-26% margin and free cash flow of $8-10m.

The target rises to $1.37 from $1.35. Equal-weight retained. The broker believes flat subscriber growth needs to accelerate to drive medium-term growth. Industry View: Attractive.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.90 cents.
Morgan Stanley forecasts a full year FY27 dividend of 0.00 cents and EPS of 4.80 cents.
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

27/08/2025

1

Buy

$1.75

37.80%

Canaccord Genuity notes hipages Group's FY25 revenue came in line with its estmate and consensus, driven by 9% growth in ARPU and increase in the number of paying tradies.

Total subscription was flat at 36.6k vs 36.7k in FY24. Following migration of all NZL customers to a full subscription model, the number of subscribers rose but total tradies fell to 3.4k from 3.6k.

Guidance for FY26 revenue growth was 10-12%, EBITDA margin of 24-26% and free cash flow of $8-10m. The broker left FY26-27 revenue and EBITDA forecasts largely unchange but lifted free cash flow forecasts.

Buy. Target rises to $1.75 from $1.50.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.00 cents.
Canaccord Genuity forecasts a full year FY27 EPS of 7.30 cents.
Access Extra Coverage Research History >

HPG STOCK CHART

FNArena News on HPG

1
Australian Broker Call *Extra* Edition – Aug 28, 2025

Aug 28 2025 - Daily Market Reports
2
FNArena Corporate Results Monitor – 25-08-2025

Aug 25 2025 - Australia
3
Australian Broker Call *Extra* Edition – May 19, 2025

May 19 2025 - Daily Market Reports
4
FNArena Corporate Results Monitor – 22-02-2025

Feb 22 2025 - Australia
5
Rudi’s View: Growth Is Not A Dirty Word

Sep 25 2024 - Rudi's View

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