HMC CAPITAL LIMITED (HMC)
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HMC - HMC CAPITAL LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 9.1
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$10.79

12 Nov
2024

-0.010

OPEN

$11.15

-0.09%

HIGH

$11.20

1,196,581

LOW

$10.79

TARGET
$8.152 -24.5% downside
Franking for last dividend paid out: 70%
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FNARENA'S MARKET CONSENSUS FORECASTS
HMC: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 18.9 34.2 xxx
DPS (cps) xxx 12.0 12.0 xxx
EPS Growth xxx - 3.0% 81.1% xxx
DPS Growth xxx 0.0% 0.0% xxx
PE Ratio xxx N/A 31.8 xxx
Dividend Yield xxx N/A 1.1% xxx
Div Pay Ratio(%) xxx 63.6% 35.1% xxx

Dividend yield today if purchased 3 years ago: 1.54%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.10

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: 27/08 - ex-div 6c (franking 70%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 20202021202220232024
EPS Basic -1.7-19.926.319.518.9
DPS All 12.079.512.012.012.0
Sales/Revenue 73.3 M69.8 M78.7 M69.5 M81.4 M
Book Value Per Share 368.6243.7282.4297.4328.0
Net Operating Cash Flow -23.2 M25.8 M18.5 M34.1 M69.6 M
Net Profit Margin -3.82 %-143.08 %98.17 %82.12 %81.08 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 20202021202220232024
Return on Capital Employed -0.49 %-13.91 %9.95 %6.08 %5.85 %
Return on Invested Capital -0.29 %-9.12 %8.53 %6.05 %5.84 %
Return on Assets -0.23 %-8.84 %8.15 %5.06 %4.21 %
Return on Equity -0.49 %-13.91 %9.95 %6.08 %5.85 %
Return on Total Capital 2.95 %3.20 %4.68 %1.58 %1.34 %
Free Cash Flow ex dividends -32.1 M-10.9 M-19.6 M-2.0 M27.8 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 20202021202220232024
Short-Term Debt 10 M0 M1 M87 M200 M
Long Term Debt 498 M255 M4 M3 M2 M
Total Debt 508 M255 M4 M90 M202 M
Goodwill - Gross --49 M49 M49 M
Cash & Equivalents - Generic 30 M12 M58 M116 M255 M
Price To Book Value 0.812.231.601.702.20

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 20202021202220232024
Capex 0.0 M0.0 M3.3 M0.0 M0.0 M
Capex % of Sales 0.00 %0.00 %4.25 %0.00 %0.00 %
Cost of Goods Sold 31 M23 M14 M25 M-
Selling, General & Admin. Exp & Other 8 M11 M22 M28 M59 M
Research & Development -----
Investments - Total 1,098 M188 M14 M346 M733 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

0.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Bell Potter

23/08/2024

3

Hold

$8.15

-24.47%

FY24 results from HMC Capital were below Bell Potter's estimates, largely because of tax, and the business is still expected to continue with a strong growth trajectory in FY25. Distribution guidance for FY25 is $0.12, in line with expectations.

Real estate remains the biggest component of funds under management. The broker expects growth across a broader base of divisions and capital sources going forward which will help these "speed bumps", ie tax this year, in time.

Hold retained. Target is raised to $8.15 from $7.40.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 12.00 cents and EPS of 37.10 cents.
Bell Potter forecasts a full year FY26 dividend of 12.00 cents and EPS of 41.20 cents.

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

1

xxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Jarden

26/08/2024

3

Neutral

$7.90

-26.78%

HMC Capital continues to experience strong growth in assets under management with a high conviction to megatrends.

Jarden notes assets under management expanded to $10.6bn from $1.2bn in FY24 with a medium term $20bn target.

Management believes a $50bn target in five years is achievable.

EPS growth, once the broker accounts for trading profits and unrealised gains, equals a less flashy 9%. Jarden will mark to market the REITs earmings models.

Overweight. Target $7.90.

FORECAST
Jarden forecasts a full year FY25 EPS of 23.90 cents.
Jarden forecasts a full year FY26 EPS of 29.60 cents.
Access Extra Coverage Research History >

HMC STOCK CHART

FNArena News on HMC

1
HMC Capital: More Upside Through Private Credit

Oct 09 2024 - Small Caps
2
Australian Broker Call *Extra* Edition – Oct 08, 2024

Oct 08 2024 - Daily Market Reports
3
Next Week At A Glance – 7-11 Oct 2024

Oct 04 2024 - Weekly Reports
4
Next Week At A Glance – 16-20 Sep 2024

Sep 13 2024 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Aug 26, 2024

Aug 26 2024 - Daily Market Reports

Latest Wealth Management & Investments News

1
Weekly Update On LICs & LITs – 12-Nov-2024

Nov 12 2024 - Weekly Reports
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Australian Listed Investment Company Report – Nov 2024

Nov 11 2024 - Australia
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Oct 29 2024 - Weekly Reports
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Weekly Update On LICs & LITs – 22-Oct-2024

Oct 22 2024 - Weekly Reports
6
Weekly Update On LICs & LITs – 15-Oct-2024

Oct 15 2024 - Weekly Reports
7
HMC Capital: More Upside Through Private Credit

Oct 09 2024 - Small Caps
8
Weekly Update On LICs & LITs – 07-Oct-2024

Oct 08 2024 - Weekly Reports
9
Monthly Listed Investment Trust Report – Oct 2024

Oct 07 2024 - Australia
10
Weekly Update On LICs & LITs – 24-Sep-2024

Sep 24 2024 - Weekly Reports