MACQUARIE TECHNOLOGY GROUP LIMITED (MAQ)
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MAQ

MAQ - MACQUARIE TECHNOLOGY GROUP LIMITED

FNArena Sector : Telecommunication
Year End: June
GICS Industry Group : Telecommunication Services
Debt/EBITDA: 0.35
Index: ASX200 | ASX300 | ALL-ORDS | ALL-TECH

LAST PRICE CHANGE +/- CHANGE % VOLUME

$68.00

21 Mar
2025

-1.370

OPEN

$69.04

-1.97%

HIGH

$70.30

370,083

LOW

$68.00

TARGET
$100.00 47.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
5GG . 5GN . ABB . CNU . ESK . FSG . HTA . SLC . SPK . ST1 . TLS . TPG . TPG . TUA .
FNARENA'S MARKET CONSENSUS FORECASTS
MAQ: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 134.7 136.0 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 64.7% 1.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 50.0 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

Last ex-div: 27/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx134.7
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx363.3 M
Book Value Per Share xxxxxxxxxxxxxxx1,766.3
Net Operating Cash Flow xxxxxxxxxxxxxxx109.4 M
Net Profit Margin xxxxxxxxxxxxxxx9.08 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx8.52 %
Return on Invested Capital xxxxxxxxxxxxxxx7.05 %
Return on Assets xxxxxxxxxxxxxxx5.36 %
Return on Equity xxxxxxxxxxxxxxx8.52 %
Return on Total Capital xxxxxxxxxxxxxxx10.80 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-27.3 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 xxxxxxxxxxxxxxx4 M
Long Term Debt xxxxxxxxxxxxxxx35 M
Total Debt xxxxxxxxxxxxxxx39 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx115 M
Price To Book Value xxxxxxxxxxxxxxx5.35

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx145.9 M
Capex % of Sales xxxxxxxxxxxxxxx40.16 %
Cost of Goods Sold xxxxxxxxxxxxxxx260 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx52 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

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

28/02/2025

1

Overweight

$100.00

47.06%

Macquarie Technology delivered first half earnings labeled as "mixed", but largely met Morgan Stanley's expectations, providing full year guidance of $112-115m in EBITDA for the first time.

The broker notes a strong track record of managing the portfolio to achieve consistent profit and cash flow.

The company expects flat CS&G margins in the second half and the impact of US tech vendor price rises starting to ease in FY26.

The business remains committed to a significant data centres development pipeline guiding to -$120-135m in capital expenditure in FY25.

Morgan Stanley concludes the first half is supportive of a positive investment thesis and makes no change to its Overweight rating and $100 Target. Industry view is Attractive.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 0.00 cents and EPS of 136.00 cents.
Morgan Stanley forecasts a full year FY26 dividend of 0.00 cents and EPS of 163.00 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

4

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

Goldman Sachs

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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

05/03/2025

1

Overweight

$89.75

31.99%

Wilsons notes Macquarie Technology's 1H25 result was in line with forecasts and consensus, and FY25 EBITDA guidance was also in line. The key focus is on IC3 Super West data centre with phase 1 expected to open in 3Q of calendar 2026.

The broker notes the company has $541m readily available funding for construction, and the next catalyst will be securing land for the next asset. The broker will also look for further updates on construction milestones and demand for IC3.

FY27 EBITDA forecast has been upgraded to incorporate IC3 contribution. Target price cut to $89.75 from $97.27 as the broker reduced EV/EBITDA multiple to 19x from 21.5x due to softer demand from the cloud and government segments. 

Overweight.

FORECAST
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 143.50 cents.
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 122.20 cents.

Petra Capital

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 Extra Coverage Research History >

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