FLEETPARTNERS GROUP LIMITED (FPR)
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FPR - FLEETPARTNERS GROUP LIMITED

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

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.26

20 Nov
2024

0.160

OPEN

$3.15

5.16%

HIGH

$3.29

308,846

LOW

$3.10

TARGET
$3.763 15.4% 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 N/A 31.4 xxx
DPS (cps) xxx N/A 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 10.2 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: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

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 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx30.7
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx676.8 M
Book Value Per Share xxxxxxxxxxxxxxx262.7
Net Operating Cash Flow xxxxxxxxxxxxxxx-56.8 M
Net Profit Margin xxxxxxxxxxxxxxx11.97 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx12.90 %
Return on Invested Capital xxxxxxxxxxxxxxx5.07 %
Return on Assets xxxxxxxxxxxxxxx3.79 %
Return on Equity xxxxxxxxxxxxxxx12.90 %
Return on Total Capital xxxxxxxxxxxxxxx9.36 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-76.4 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx329 M
Long Term Debt xxxxxxxxxxxxxxx1,056 M
Total Debt xxxxxxxxxxxxxxx1,384 M
Goodwill - Gross xxxxxxxxxxxxxxx441 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx247 M
Price To Book Value xxxxxxxxxxxxxxx1.04

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx19.5 M
Capex % of Sales xxxxxxxxxxxxxxx2.89 %
Cost of Goods Sold xxxxxxxxxxxxxxx408 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx89 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx34 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

19.63%

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

06/08/2024

3

Hold

$3.80

16.56%

FleetPartners Group's June Q update showed new business and asset growth are both trending well, Canaccord Genuity notes, particularly for Australia Fleet and Novated. While positive, this was in line with expectations and a continuation of strong first half momentum.

End-of-lease income was very strong and ahead of expectations, in contrast to the view that EOL income would continue to track
downwards. This is likely partly due to general used car market strength and partly due to mix of FleetPartners' vehicles, the broker suggests.

But the "beat" is mainly on lower-quality EOL income, Canaccord points out, which is ultimately still on a pathway to more normal levels. Hold and $3.80 target retained.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 31.00 cents.
Access Extra Coverage Research History >

FPR STOCK CHART

FNArena News on FPR

1
EVs And Capital Management Drive FleetPartners

Nov 20 2024 - Small Caps
2
Rudi’s View: Market Reflects Risk & Opportunities

Oct 09 2024 - Rudi's View
3
Australian Broker Call *Extra* Edition – Aug 06, 2024

Aug 06 2024 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 17-05-24

May 20 2024 - Weekly Reports
5
FNArena Corporate Results Monitor – 17-05-2024

May 17 2024 - Australia

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
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Mar 13 2024 - Treasure Chest
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Dec 12 2023 - Australia
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May 24 2023 - ESG Focus
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8
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May 11 2022 - Australia
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Mar 11 2021 - Australia