FLEETPARTNERS GROUP LIMITED (FPR)
Share Price Analysis and Chart

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FPR - FLEETPARTNERS GROUP LIMITED

FNArena Sector : Vehicle Leasing & Salary Packaging
Year End: September
GICS Industry Group : NONE
Debt/EBITDA: 4.1
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.83

20 Dec
2024

-0.090

OPEN

$3.10

-3.08%

HIGH

$2.94

362,142

LOW

$2.83

TARGET
$3.763 33.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
MMS . SGF . SIQ .
FNARENA'S MARKET CONSENSUS FORECASTS
FPR: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 32.4 31.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 5.6% - 3.1% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 9.0 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
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx32.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx761.6 M
Book Value Per Share xxxxxxxxxxxxxxx267.9
Net Operating Cash Flow xxxxxxxxxxxxxxx-167.9 M
Net Profit Margin xxxxxxxxxxxxxxx10.23 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx12.38 %
Return on Invested Capital xxxxxxxxxxxxxxx4.31 %
Return on Assets xxxxxxxxxxxxxxx3.26 %
Return on Equity xxxxxxxxxxxxxxx12.38 %
Return on Total Capital xxxxxxxxxxxxxxx9.23 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-186.4 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 xxxxxxxxxxxxxxx364 M
Long Term Debt xxxxxxxxxxxxxxx1,298 M
Total Debt xxxxxxxxxxxxxxx1,662 M
Goodwill - Gross xxxxxxxxxxxxxxx440 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx274 M
Price To Book Value xxxxxxxxxxxxxxx1.15

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx18.5 M
Capex % of Sales xxxxxxxxxxxxxxx2.44 %
Cost of Goods Sold xxxxxxxxxxxxxxx462 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx101 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

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

Macquarie

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

19/11/2024

1

Overweight

$3.90

37.81%

FleetPartners Group's net operating income (NOI) pre-End-of-Lease (EOL) of $158.7m exceeded consensus forecasts by 2%, notes Morgan Stanley. EOL income of $70.6m also outperformed market expectations of $64.2m, driven by a rebound in disposals.

Assets under management or origination funding (AUMOF) growth was strong at 11%, with management projecting an average growth rate of 5% for FY25, adds the broker.

Management announced a new $30m buyback for 1H25.

Morgan Stanley maintains an Overweight rating with a $3.90 target price and an Industry View of In-line.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 0.00 cents and EPS of 26.00 cents.
Morgan Stanley forecasts a full year FY26 dividend of 0.00 cents and EPS of 28.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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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

26/11/2024

3

Hold

$3.40

20.14%

Canaccord Genuity lowers its target price for FleetPartners Group to $3.40 from $3.80 while retaining a Hold rating, citing an increasingly compelling valuation.

FY24 net operating income before end-of-lease (EOL) and provisions grew 5% year-on-year to $158.8m, slightly ahead of consensus, while normalised NPATA remained flat at $87.7m, described by the broker as an overall "solid" outcome.

Elevated used car prices contributed to higher-than-expected EOL income of $70.6m, notes the analyst.

Canaccord forecasts a decline in EPS over the next two years as EOL income normalises, with FY25 estimates raised by 10.7% due to slower declines in used car prices, but FY26 lowered by -3.4%.

The broker highlights strong management execution, a robust balance sheet, and strategic growth drivers but observes limited near-term catalysts for a re-rate.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 35.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 35.00 cents.
Access Extra Coverage Research History >

FPR STOCK CHART

FNArena News on FPR

1
Australian Broker Call *Extra* Edition – Nov 27, 2024

Nov 27 2024 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 22-11-24

Nov 25 2024 - Weekly Reports
3
FNArena Corporate Results Monitor – 22-11-2024

Nov 22 2024 - Australia
4
EVs And Capital Management Drive FleetPartners

Nov 20 2024 - Small Caps
5
Rudi’s View: Market Reflects Risk & Opportunities

Oct 09 2024 - Rudi's View

Latest Vehicle Leasing & Salary Packaging News

1
EVs And Capital Management Drive FleetPartners

Nov 20 2024 - Small Caps
2
FleetPartners Green Outlook Is Electrifying

May 15 2024 - Small Caps
3
Treasure Chest: Less Uncertainty For SG Fleet

Mar 13 2024 - Treasure Chest
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Big Win For Smartgroup

Dec 12 2023 - Australia
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ESG Focus: Here Come The EVs

May 24 2023 - ESG Focus
6
Unpacking The Salary Packaging Sector

Dec 14 2022 - Australia
7
Eclipx Group Cutting Costs, Looking For Catalysts

Nov 09 2022 - Australia
8
Eclipx Group Earnings Driving In The Fast Lane

May 11 2022 - Australia
9
Smartgroup Dashes Offer To Focus On Growth

Oct 26 2021 - Small Caps
10
Eclipx On Route To Stellar Earnings

Mar 11 2021 - Australia