AMP LIMITED (AMP)
Share Price Analysis and Chart

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AMP

AMP - AMP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: December
GICS Industry Group : Insurance
Debt/EBITDA: 722.85
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

AMP is an Australian financial services company providing superannuation and investment products, financial advice and banking products. It began life in 1849 as the Australian Mutual Provident Society and was demutualised and listed in 1998.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.49

14 Sep
2026

0.030

OPEN

$2.49

1.22%

HIGH

$2.52

12,305,178

LOW

$2.45

TARGET
$2.378 -4.5% downside
Franking for last dividend paid out: 20%
OTHER COMPANIES IN THE SAME SECTOR
AEF . ASX . BVS . CGF . DJW . GDG . GQG . HMC . HUB . IFT . IRE . KAM . KSL . MAF . MFG . MQG . NGI . NWL . PAC . PNI . PPS . PPT . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
AMP: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 5.3 13.3 xxx
DPS (cps) xxx 4.0 5.9 xxx
EPS Growth xxx - 25.8% 100.0% xxx
DPS Growth xxx 33.3% 46.9% xxx
PE Ratio xxx N/A 18.8 xxx
Dividend Yield xxx N/A 2.4% xxx
Div Pay Ratio(%) xxx 76.0% 44.1% xxx

Dividend yield today if purchased 3 years ago: 3.07%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.60

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: 20/08 - ex-div 3.00c (franking 20%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx5.3
DPS All xxxxxxxxxxxxxxx4.0
Sales/Revenue xxxxxxxxxxxxxxx2,539.0 M
Book Value Per Share xxxxxxxxxxxxxxx148.0
Net Operating Cash Flow xxxxxxxxxxxxxxx-1,375.0 M
Net Profit Margin xxxxxxxxxxxxxxx5.24 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx3.60 %
Return on Invested Capital xxxxxxxxxxxxxxx1.47 %
Return on Assets xxxxxxxxxxxxxxx0.39 %
Return on Equity xxxxxxxxxxxxxxx3.60 %
Return on Total Capital xxxxxxxxxxxxxxx-0.10 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-1,451.0 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 xxxxxxxxxxxxxxx24,462 M
Long Term Debt xxxxxxxxxxxxxxx5,175 M
Total Debt xxxxxxxxxxxxxxx29,637 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,247 M
Price To Book Value xxxxxxxxxxxxxxx1.23

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx74.0 M
Capex % of Sales xxxxxxxxxxxxxxx2.91 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,675 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx896 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx30,478 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

0.7

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

07/08/2026

3

Neutral

$2.28

-8.43%

On further inspection, post the initial take below, Macquarie believes AMP management continues to stabilise the underlying business but considers the valuation as relatively full, and hence retains a Neutral rating.

EPS forecasts are raised by 1% for FY27, 12% for FY28 and 14% for FY29, thereafter 23% due to the strong annualised sales in the Chinese partnership.

Target price is raised to $2.28 from $1.94.

****

At first take, Macquarie highlights AMP's 1H26 result was "very strong" despite the pre-release. Underlying net profit after tax grew 32.8% with an interim DPS of 3c which was up 50% y/y.

A further $150m share buyback was announced. First half net flows for the platform were a beat on both the analyst's and consensus forecasts with S&I also a beat.

Controllable costs were indicated as unchanged while the NIM was downgraded by around -1.25% to a range of 1.25%-1.35% versus the broker's prior forecast of 126bps and consensus at 1.27bps.

Macquarie likes the ongoing stabilisation of the underlying business. As the Bank becomes a less significant contributor, the valuation of the overall business is expected to improve, the analyst states.

FORECAST
Macquarie forecasts a full year FY26 dividend of 5.50 cents and EPS of 12.70 cents.
Macquarie forecasts a full year FY27 dividend of 6.00 cents and EPS of 13.10 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

Jarden

25/08/2026

2

Upgrade to Overweight from Neutral

$2.60

4.42%

Jarden upgrades its recommendation for AMP to Overweight from Neutral with its target price increased to $2.60 from $2.40 on expectations that significant excess capital and effective cash deployment will underwrite the next leg of shareholder returns.

The analyst forecasts that AMP will return $1.3bn to shareholders by FY28 through a combination of annual share buybacks of $300m and a dividend yield.

The broker's estimates indicate that alongside these returns, assuming a debt repayment of $275m at maturity, projected earnings per share upgrades will run 11% above market consensus by FY28.

The analyst highlights that a long-growth runway in China associates and potential bank realisation optionality present a favourable risk-and-reward profile.
Access Extra Coverage Research History >

AMP STOCK CHART

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2
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3
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Aug 28 2026 - Weekly Reports
4
Rudi’s View: August Delivers Soft Guidance, Higher Dividends

Aug 26 2026 - Rudi's View
5
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Aug 25 2026 - Daily Market Reports

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