ASPEN GROUP LIMITED (APZ)
Share Price Analysis and Chart

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APZ

APZ - ASPEN GROUP LIMITED

FNArena Sector : Real Estate
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 6.51
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.77

21 Feb
2025

0.070

OPEN

$2.75

2.59%

HIGH

$2.78

211,764

LOW

$2.70

TARGET
$3.05 10.1% upside
OTHER COMPANIES IN THE SAME SECTOR
DGH . DHG . HMC . PXA . REA . RMY . UBN .
FNARENA'S MARKET CONSENSUS FORECASTS
APZ: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 26.5 16.7 xxx
DPS (cps) xxx 8.5 10.0 xxx
EPS Growth xxx - 15.2% - 37.0% xxx
DPS Growth xxx 9.7% 17.6% xxx
PE Ratio xxx N/A 16.6 xxx
Dividend Yield xxx N/A 3.6% xxx
Div Pay Ratio(%) xxx 32.1% 59.9% xxx

Dividend yield today if purchased 3 years ago: 5.28%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.07

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 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx26.5
DPS All xxxxxxxxxxxxxxx8.5
Sales/Revenue xxxxxxxxxxxxxxx91.7 M
Book Value Per Share xxxxxxxxxxxxxxx219.6
Net Operating Cash Flow xxxxxxxxxxxxxxx22.4 M
Net Profit Margin xxxxxxxxxxxxxxx52.82 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx12.07 %
Return on Invested Capital xxxxxxxxxxxxxxx8.74 %
Return on Assets xxxxxxxxxxxxxxx7.64 %
Return on Equity xxxxxxxxxxxxxxx12.07 %
Return on Total Capital xxxxxxxxxxxxxxx5.01 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx5.3 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 xxxxxxxxxxxxxxx33 M
Long Term Debt xxxxxxxxxxxxxxx167 M
Total Debt xxxxxxxxxxxxxxx200 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx5 M
Price To Book Value xxxxxxxxxxxxxxx0.82

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx1.8 M
Capex % of Sales xxxxxxxxxxxxxxx1.99 %
Cost of Goods Sold xxxxxxxxxxxxxxx43 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx20 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx576 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

Bell Potter

21/02/2025

1

Buy

$3.05

10.11%

Aspen Group's 1H25 result saw earnings 5% above Bell Potter's forecast. FY25 guidance was upgraded for the third time and the dividend was reiterated. Profit improved year on year driven by both higher settlements and margins.

New land acquired in WA will help to restock the forward book, the broker notes. Tourism (Parks) has been less of a contributor but has scope for improvement given Aspen’s estimate of a negative hit to rental income in the first half.

Aspen’s balance sheet is lowly levered with earnings growing well above sector, yet the stock trades at just an 18% premium to NTA. Bell Potter sees a strong runway ahead, sitting just outside the ASX300, with conservative book values.

Target rises to $3.05 from 2.80, Buy retained.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 10.00 cents and EPS of 16.70 cents.
Bell Potter forecasts a full year FY26 dividend of 10.30 cents and EPS of 19.00 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

Moelis

20/11/2024

1

Buy

$2.73

-1.44%

In mid-October, Aspen Group reported Q1 FY25 underlying EPS of 4.4c, up 20% year-on-year and well above the run-rate needed to achieve prior FY25 guidance of 15.2c, notes Moelis.

Management has now upgraded FY25 guidance for underlying EPS to 16.0c and announced plans to double its production of houses and land sites to 200 in FY25, compared to 97 settlements in FY24, highlights the broker.

Aspen divested -50% of its stake in Eureka Group ((EGH)), reducing its gearing to below 22% from 25.7%, and signalling a shift toward development income, which Moelis views as incrementally positive for long-term value creation.

Moelis raises its target price to $2.73 from $2.53 and retains a Buy rating.

FORECAST
Moelis forecasts a full year FY25 dividend of 9.70 cents and EPS of 16.00 cents.
Moelis forecasts a full year FY26 dividend of 10.20 cents and EPS of 16.60 cents.
Access Extra Coverage Research History >

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