ASX LIMITED (ASX)
Share Price Analysis and Chart

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ASX - ASX LIMITED

FNArena Sector : Wealth Management & Investments

Year End: June

GICS Industry Group : Diversified Financials

Debt/EBITDA: 10.31

Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

The Australian Securities Exchange is Australia's primary securities exchange. The ASX was formed in 1987 as an amalgamation of the six states securities exchanges. It oversees compliance with its operating rules and standards of corporate governance among its listed entities.

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$66.15 25 Mar 2025	0.760 OPEN $65.54	1.16% HIGH $66.67	273,601 LOW $65.41

TARGET

$64.175

-3.0% downside

Franking for last dividend paid out: 100%

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FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	244.8	258.5	xxx
DPS (cps)	xxx	208.0	218.1	xxx
EPS Growth	xxx	49.4%	5.6%	xxx
DPS Growth	xxx	- 8.9%	4.9%	xxx
PE Ratio	xxx	N/A	25.9	xxx
Dividend Yield	xxx	N/A	3.3%	xxx
Div Pay Ratio(%)	xxx	85.0%	84.4%	xxx

Dividend yield today if purchased 3 years ago: 2.58%

DIVIDEND YIELD CALCULATOR

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: 21/08 - ex-div 106.80c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	244.8
DPS All	xxx	xxx	xxx	xxx	xxx	208.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	1,590.7 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	1,921.2
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	682.2 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	29.81 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	12.88 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	11.66 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	2.81 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	12.88 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	7.21 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	153.8 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	11,786 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	523 M
Total Debt	xxx	xxx	xxx	xxx	xxx	12,309 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	2,318 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	13,403 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	3.12

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Negative
Growth
Slowing

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	137.8 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	8.66 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	40 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	396 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	17 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

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Sentiment Indicator

-0.4

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
UBS	xx/xx/xxxx	5	xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Morgan Stanley	xx/xx/xxxx	5	xxxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Morgans	xx/xx/xxxx	3	xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Macquarie	14/02/2025	3	Neutral	$66.50	0.53%	Macquarie assesses there are ongoing challenges around expenses for ASX and will not become more constructive on the stock as a result. The company has maintained guidance in its first half results regarding operating and capital expenditures for FY25 with growth still forecast in the 6-9% range. The broker awaits clarity on the medium-term outlook at the investor briefing scheduled for June. The first half dividend represented an 85% payout ratio, in line with the target. Macquarie raises its price target to $66.50 from $66.00 and retains a Neutral rating. FORECAST Macquarie forecasts a full year FY25 dividend of 219.00 cents and EPS of 257.00 cents. Macquarie forecasts a full year FY26 dividend of 224.00 cents and EPS of 264.00 cents.
Citi	xx/xx/xxxx	3	xxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Ord Minnett	xx/xx/xxxx	4	xxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

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EXTRA COVERAGE

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No. Of Recommendations

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
Goldman Sachs	xx/xx/xxxx	5	xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Jarden	16/01/2025	3	Neutral	$62.55	-5.44%	Jarden notes momentum in futures volumes growth on the ASX appears to be abating. The near-term revenue outlook for ASX also continues to be fragile as cash equities turnover decline and weakness in capital raisings continues, the broker adds. The broker has trimmed the earnings outlook for FY25-27 but raised the target price due to higher risk-free rates and a revised S&P/ASX200 market multiple. The rating is maintained at Neutral. Target price rises to $62.55 from $62.25. FORECAST Jarden forecasts a full year FY25 dividend of 217.20 cents and EPS of 255.30 cents. Jarden forecasts a full year FY26 dividend of 225.20 cents and EPS of 265.00 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Goldman Sachs

xx/xx/xxxx

xxxx

$xx.xx

xx.xx%

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

Jarden

16/01/2025

Neutral

$62.55

-5.44%

Jarden notes momentum in futures volumes growth on the ASX appears to be abating. The near-term revenue outlook for ASX also continues to be fragile as cash equities turnover decline and weakness in capital raisings continues, the broker adds.

The broker has trimmed the earnings outlook for FY25-27 but raised the target price due to higher risk-free rates and a revised S&P/ASX200 market multiple.

The rating is maintained at Neutral. Target price rises to $62.55 from $62.25.

FORECAST
Jarden forecasts a full year FY25 dividend of 217.20 cents and EPS of 255.30 cents.
Jarden forecasts a full year FY26 dividend of 225.20 cents and EPS of 265.00 cents.

Access Extra Coverage Research History >

ASX STOCK CHART

FNArena News on ASX

1	Rudi’s View: Post February Conviction Calls Mar 13 2025 - Rudi's View

2	Rudi’s View: Best Ideas & Conviction Calls Feb 20 2025 - Rudi's View

3	Rudi’s View: More Beats In Early Feb Results Feb 19 2025 - Rudi's View

4	Australian Broker Call Extra Edition – Feb 17, 2025 Feb 17 2025 - Daily Market Reports

5	FNArena Corporate Results Monitor – 14-02-2025 Feb 14 2025 - Australia

Latest Wealth Management & Investments News

1	Weekly Update On LICs & LITs – 25-Mar-2025 Mar 25 2025 - Weekly Reports

2	Weekly Update On LICs & LITs – 18-Mar-2025 Mar 18 2025 - Weekly Reports

3	Confident Qualitas Overlooked By Equity Investors Mar 17 2025 - Small Caps

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5	Weekly Update On LICs & LITs – 11-Mar-2025 Mar 11 2025 - Weekly Reports

6	Monthly Listed Investment Trust Report – Mar 2025 Mar 10 2025 - Australia

7	Weekly Update On LICs & LITs – 25-Feb-2025 Feb 25 2025 - Weekly Reports

8	Active Management Key To Pinnacle’s Success Feb 10 2025 - Small Caps

9	Weekly Update On LICs & LITs – 04-Feb-2025 Feb 04 2025 - Weekly Reports

10	Perpetual: Closing The Gap Feb 03 2025 - Technicals

Dividend Yield Today On Last Actual Payout :	3.14
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
Tell Me The Dividend After This Many Years

	Yield	Yield on investment
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ASX LIMITED (ASX)
Share Price Analysis and Chart