VISTA GROUP INTERNATIONAL LIMITED (VGL)
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VGL

VGL - VISTA GROUP INTERNATIONAL LIMITED

FNArena Sector : Software & Services
Year End: December
GICS Industry Group : Software & Services
Debt/EBITDA: 1.1
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.53

03 Mar
2026

0.030

OPEN

$1.52

2.00%

HIGH

$1.60

21,490

LOW

$1.52

TARGET
$3.22 110.5% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
360 . ALC . AMX . AR9 . ATA . AV1 . BMT . COS . DOC . GTK . KYP . NXL . QOR . RDY . SKO . UBN . XF1 . YOJ .
FNARENA'S MARKET CONSENSUS FORECASTS
VGL: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 3.7 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 41.7 xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) N/A xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

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: 12/03 - ex-div 2.1c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx0.7
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx148.2 M
Book Value Per Share xxxxxxxxxxxxxxx53.2
Net Operating Cash Flow xxxxxxxxxxxxxxx25.1 M
Net Profit Margin xxxxxxxxxxxxxxx1.16 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx1.33 %
Return on Invested Capital xxxxxxxxxxxxxxx1.14 %
Return on Assets xxxxxxxxxxxxxxx0.83 %
Return on Equity xxxxxxxxxxxxxxx1.33 %
Return on Total Capital xxxxxxxxxxxxxxx4.00 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx24.5 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 xxxxxxxxxxxxxxx4 M
Long Term Debt xxxxxxxxxxxxxxx25 M
Total Debt xxxxxxxxxxxxxxx28 M
Goodwill - Gross xxxxxxxxxxxxxxx66 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx18 M
Price To Book Value xxxxxxxxxxxxxxx4.22

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx19.0 M
Capex % of Sales xxxxxxxxxxxxxxx12.84 %
Cost of Goods Sold xxxxxxxxxxxxxxx81 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx60 M
Research & Development xxxxxxxxxxxxxxx24 M
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

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

UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

-

xx.xx%

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Ord Minnett

02/03/2026

1

Buy

$3.22

110.46%

Vista International reported a solid FY25 result, Ord Minnett suggests, against a backdrop of depressed expectations and the "SaaS apocalypse". The company met expectations around cloud roll out (a priority for investors), and delivered a small beat on earnings.

The broker is optimistic about the outlook for the company and expects a 14% three-year revenue CAGR alongside strong earnings margin expansion.

Vista International trades on 15x 2026 enterprise value to earnings, Ord Minnett notes, well below the peer average of ASX tech stocks with comparable growth. Buy and $3.22 target retained.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.74 cents.
Ord Minnett forecasts a full year FY27 dividend of 0.00 cents and EPS of 7.43 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

Shaw and Partners

04/03/2026

1

Buy

$3.70

141.83%

Vista Group reported FY25 revenue of NZ$164m, up 10% on the prior year but below guidance of NZ$167-173m and Shaw and Partners' NZ$167m forecast.

Earnings (EBITDA) of NZ$28.2m rose 31% with a 17% margin and gross free cash flow (FCF) of NZ$2.1m; all in line with the broker's expectations.

The analyst highlights cloud migration is accelerating, with 724 sites live and guidance for 1,300 in FY26, and believes the pathway to FCF break-even in FY27 is increasingly visible.

Long-term FY30 targets were re-iterated, implying ARR of NZ$315m and EBITDA margins of 33-37%, which the broker argues signals a material lift in FCF to around NZ$75m by FY31.

Shaw maintains a Buy rating and lowers its target price to $3.70 from $4.10.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.25 cents.
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 2.95 cents.
Access Extra Coverage Research History >

VGL STOCK CHART

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