BRAVURA SOLUTIONS LIMITED (BVS)
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BVS - BRAVURA SOLUTIONS LIMITED

FNArena Sector : Wealth Management & Investments

Year End: June

GICS Industry Group : NONE

Debt/EBITDA: 0.62

Index: ALL-ORDS | ALL-TECH

Bravura Solutions is an Australian company providing software solutions for the wealth management, life insurance and funds administration industries. Established in 2004 it first listed in 2006, before relisting in 2016 following restructuring.

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$2.74 20 Feb 2025	0.000 OPEN $2.69	0.000 HIGH $2.74	1,457,765 LOW $2.64

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$2.74

20 Feb
2025

0.000

OPEN

$2.69

0.000

HIGH

$2.74

1,457,765

LOW

$2.64

TARGET

$3.035

10.8% upside

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FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	2.0	6.4	xxx
DPS (cps)	xxx	0.0	7.4	xxx
EPS Growth	xxx	N/A	100.0%	xxx
DPS Growth	xxx	N/A	N/A	xxx
PE Ratio	xxx	N/A	42.8	xxx
Dividend Yield	xxx	N/A	2.7%	xxx
Div Pay Ratio(%)	xxx	N/A	115.7%	xxx

Dividend yield today if purchased 3 years ago: 0.00%

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: 02/09 - ex-div 3.2c (franking 0%)

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	2.0
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	249.0 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	29.8
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	29.9 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	3.52 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	6.76 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	5.99 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	3.58 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	6.76 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	8.16 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	26.1 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	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	5 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	13 M
Total Debt	xxx	xxx	xxx	xxx	xxx	17 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	220 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	90 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	3.62

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	6.5 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	2.61 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	210 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	27 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Shaw and Partners	xx/xx/xxxx	1	xxx, xxxx xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Macquarie	13/02/2025	1	Upgrade to Outperform from Neutral	$3.17	15.69%	Macquarie upgrades Bravura Solutions to Outperform from Neutral, raising the target price to $3.17 from $2.05 due to higher earnings forecasts, lower capex, and improved operating efficiency. The company reported better-than-expected 1H25 revenue, around 5% above the broker’s forecast, which underpinned a 14% beat on earnings before interest, tax, and depreciation (EBITDA), along with a return of capital and dividends announced for 2H25. The EMEA segment was well ahead of forecasts, while APAC was slightly lower. Cash on hand ended at $151.8m following the Fidelity license sale. Following a FY25 guidance upgrade in November, management further raised revenue guidance by 2.9% at the midpoint and EBITDA by 11.8% at the midpoint. Macquarie lifts EPS forecasts by 25% for FY25 and 9% for FY26. FORECAST Macquarie forecasts a full year FY25 dividend of 13.40 cents and EPS of 6.90 cents. Macquarie forecasts a full year FY26 dividend of 3.80 cents and EPS of 6.30 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Shaw and Partners

xx/xx/xxxx

xxx, xxxx xxxx

$xx.xx

xx.xx%

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

Macquarie

13/02/2025

Upgrade to Outperform from Neutral

$3.17

15.69%

Macquarie upgrades Bravura Solutions to Outperform from Neutral, raising the target price to $3.17 from $2.05 due to higher earnings forecasts, lower capex, and improved operating efficiency.

The company reported better-than-expected 1H25 revenue, around 5% above the broker’s forecast, which underpinned a 14% beat on earnings before interest, tax, and depreciation (EBITDA), along with a return of capital and dividends announced for 2H25.

The EMEA segment was well ahead of forecasts, while APAC was slightly lower. Cash on hand ended at $151.8m following the Fidelity license sale.

Following a FY25 guidance upgrade in November, management further raised revenue guidance by 2.9% at the midpoint and EBITDA by 11.8% at the midpoint.

Macquarie lifts EPS forecasts by 25% for FY25 and 9% for FY26.

FORECAST
Macquarie forecasts a full year FY25 dividend of 13.40 cents and EPS of 6.90 cents.
Macquarie forecasts a full year FY26 dividend of 3.80 cents and EPS of 6.30 cents.

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EXTRA COVERAGE

Display All Commentary

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
Wilsons	13/02/2025	1	Overweight	$3.17	15.69%	First half results for Bravura Solutions revealed a significant improvement in earnings (EBITDA) to $23.8m from $7.9m in the prior corresponding period due to cost savings and efficiency programs, highlights Wilsons. Management upgraded FY25 revenue and earnings (EBITDA) guidance by 3% and 12%, respectively, reflecting ongoing operational efficiencies. With financial stability restored and a focus shifting to revenue growth, the broker expects further contract wins to support momentum. Wilsons' target rises to $3.17 from $2.06 due to a 15% lift in the FY25 earnings forecast and a higher valuation multiple. Overweight rating maintained. FORECAST Wilsons forecasts a full year FY25 dividend of 10.50 cents and EPS of 7.20 cents. Wilsons forecasts a full year FY26 dividend of 4.10 cents and EPS of 7.70 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Wilsons

13/02/2025

Overweight

$3.17

15.69%

First half results for Bravura Solutions revealed a significant improvement in earnings (EBITDA) to $23.8m from $7.9m in the prior corresponding period due to cost savings and efficiency programs, highlights Wilsons.

Management upgraded FY25 revenue and earnings (EBITDA) guidance by 3% and 12%, respectively, reflecting ongoing operational efficiencies.

With financial stability restored and a focus shifting to revenue growth, the broker expects further contract wins to support momentum.

Wilsons' target rises to $3.17 from $2.06 due to a 15% lift in the FY25 earnings forecast and a higher valuation multiple. Overweight rating maintained.

FORECAST
Wilsons forecasts a full year FY25 dividend of 10.50 cents and EPS of 7.20 cents.
Wilsons forecasts a full year FY26 dividend of 4.10 cents and EPS of 7.70 cents.

Access Extra Coverage Research History >

BVS STOCK CHART

FNArena News on BVS

1	Weekly Ratings, Targets, Forecast Changes – 14-02-25 Feb 17 2025 - Weekly Reports

2	FNArena Corporate Results Monitor – 13-02-2025 Feb 13 2025 - Australia

3	Australian Broker Call Extra Edition – Feb 13, 2025 Feb 13 2025 - Daily Market Reports

4	In Brief: Northern Star, Worley, Bravura & Big River Dec 06 2024 - Weekly Reports

5	Australian Broker Call Extra Edition – Dec 05, 2024 Dec 05 2024 - Daily Market Reports

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Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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BRAVURA SOLUTIONS LIMITED (BVS)
Share Price Analysis and Chart