HMC CAPITAL LIMITED (HMC)
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HMC

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

$5.17

05 May
2025

-0.090

OPEN

$5.33

-1.71%

HIGH

$5.38

1,774,939

LOW

$5.07

TARGET
$8.26 59.8% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . AVC . BVS . CGF . CVW . DJW . ENN . GDC . GDG . GQG . HUB . IFL . IFT . IRE . KAM . KSL . MAF . MFG . MQG . NGI . NWL . PAC . PNI . PPS . PPT . PTM . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
HMC: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 18.9 50.2 xxx
DPS (cps) xxx 12.0 12.0 xxx
EPS Growth xxx - 3.0% 100.0% xxx
DPS Growth xxx 0.0% 0.0% xxx
PE Ratio xxx N/A 9.7 xxx
Dividend Yield xxx N/A 2.5% xxx
Div Pay Ratio(%) xxx 63.6% 23.9% xxx

Dividend yield today if purchased 3 years ago: 1.97%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.47

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 © 2025 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 %-9.14 %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 495 M255 M4 M3 M2 M
Total Debt 505 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

0.4

No. Of Recommendations

5
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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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

21/03/2025

1

Buy

$12.40

139.85%

UBS notes results for office REITs improved in the February reporting season and leasing spreads could improve as lower post-Covid leases are replaced, assuming typical 5-year lease terms. 

The broker believes Australian REITs are looking more supportive vs the local market and in a global context.

In the broker's recent meeting with investors, HMC Capital was discussed in the context of fund manager momentum and risks.

Buy rating and $12.40 target price.

FORECAST
UBS forecasts a full year FY25 dividend of 12.00 cents and EPS of 61.00 cents.
UBS forecasts a full year FY26 dividend of 12.70 cents and EPS of 34.20 cents.

Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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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

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

07/04/2025

1

Buy

$10.90

110.83%

Goldman Sachs notes HMC Capital will receive $150m interim FY25 dividend in mid-April from its private equity fund HMC Capital Partners Fund 1 (HMCCP) and retain $230m ongoing investment in the fund.

The fund name will change to HMC Capital Partners Fund II with a shift in strategy towards both listed and unlisted opportunities, and the performance fee hurdle will be lifted to 9% from 7%.

The broker cut FY25/26/27 EPS estimates by -7%/-16%/-8%, respectively, to reflect lower management fees and investment incomes and higher expenses.

Target cut to $10.90 from $12.30. Buy retained.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 12.00 cents and EPS of 51.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 12.00 cents and EPS of 44.00 cents.
Access Extra Coverage Research History >

HMC STOCK CHART

FNArena News on HMC

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 24-04-25

Apr 24 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Apr 22, 2025

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3
Australian Broker Call *Extra* Edition – Apr 07, 2025

Apr 07 2025 - Daily Market Reports
4
Next Week At A Glance – 7-11 Apr 2025

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5
Rudi’s View: Time For Appreciating Quality

Apr 02 2025 - Rudi's View

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