HUB24 LIMITED (HUB)
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HUB

HUB - HUB24 LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 0.49
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Hub24 operates an online platform providing investment and superannuation services. It was established and listed in 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$104.53

25 Jul
2025

0.780

OPEN

$104.00

0.75%

HIGH

$104.53

227,401

LOW

$102.67

TARGET
$92.429 -11.6% downside
Franking for last dividend paid out: 100%
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AEF . AMP . ASX . BVS . CGF . CVW . DJW . ENN . GDG . GQG . HMC . IFL . IFT . IRE . KAM . KSL . MAF . MFG . MQG . NGI . NWL . PAC . PNI . PPS . PPT . PTM . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
HUB: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 58.2 111.1 xxx
DPS (cps) xxx N/A 53.0 xxx
EPS Growth xxx 21.9% 91.1% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 94.1 xxx
Dividend Yield xxx N/A 0.5% xxx
Div Pay Ratio(%) xxx N/A 47.7% xxx

Dividend yield today if purchased 3 years ago: 1.61%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.36

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: 09/09 - ex-div 19.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx58.2
DPS All xxxxxxxxxxxxxxx38.0
Sales/Revenue xxxxxxxxxxxxxxx326.7 M
Book Value Per Share xxxxxxxxxxxxxxx641.2
Net Operating Cash Flow xxxxxxxxxxxxxxx90.2 M
Net Profit Margin xxxxxxxxxxxxxxx14.43 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx9.16 %
Return on Invested Capital xxxxxxxxxxxxxxx8.50 %
Return on Assets xxxxxxxxxxxxxxx7.45 %
Return on Equity xxxxxxxxxxxxxxx9.16 %
Return on Total Capital xxxxxxxxxxxxxxx9.98 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx58.8 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx43 M
Total Debt xxxxxxxxxxxxxxx45 M
Goodwill - Gross xxxxxxxxxxxxxxx246 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx88 M
Price To Book Value xxxxxxxxxxxxxxx7.26

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx22.7 M
Capex % of Sales xxxxxxxxxxxxxxx6.96 %
Cost of Goods Sold xxxxxxxxxxxxxxx67 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx204 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx11 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

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

16/07/2025

3

Neutral

$95.90

-8.26%

Hub24 delivered record net flows of $19.8bn in 2025, with $5.3bn in the June quarter alone, including a $1.2bn final migration from Equity Trustees ((EQT)), highlights Macquarie.

The broker explains market movements of $4.9bn provided a 5% uplift to opening platform funds under administration (FUA). Quarterly flows, excluding migrations, rose 33% year-on-year, outperforming consensus by 4.1%.

Total FUA reached a record $136.4bn by June, up 30% year-on-year, while adviser numbers increased 13% to 5,097.

Management's FY26 platform FUA target of $123–135bn is unchanged.

Macquarie raises its target price to $95.90 from $74.20 to reflect market updates, earnings forecast changes, and an upgrade to long-term growth assumptions. Neutral rating retained.

FORECAST
Macquarie forecasts a full year FY25 dividend of 50.00 cents and EPS of 106.70 cents.
Macquarie forecasts a full year FY26 dividend of 72.00 cents and EPS of 139.80 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxxxx xx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

4

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

Moelis

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Wilsons

xx/xx/xxxx

3

xxxxxx xxxxxx

$xx.xx

xx.xx%

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Jarden

17/07/2025

4

Underweight

$84.50

-19.16%

Jarden notes Hub24 reported 4Q25 custodial funds under administration which met expectations, with net flows better than anticipated.

The analyst is increasingly positive on the flow outlook for FY26, with managed accounts expected to offset an easing in adviser growth.

Barring any market shocks, like those seen in April this year, Jarden believes Hub24 is most likely to exceed the upper end of its FY26 custodial funds under administration guidance.

There is no change to the Underweight rating, due to the 55% rise in the share price over the last six months and the valuation ascribed to the stock for a forecast compound average growth rate in two-year EPS of 24.7%.

Target advances to $84.50 from $79.50. The analyst tweaks EPS estimates ahead of FY25 results.

FORECAST
Jarden forecasts a full year FY25 dividend of 57.90 cents and EPS of 117.60 cents.
Jarden forecasts a full year FY26 dividend of 76.70 cents and EPS of 153.80 cents.

Canaccord Genuity

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

HUB STOCK CHART

FNArena News on HUB

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2
June Quarter: Hub24 Outgrows Netwealth

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Jul 17 2025 - Rudi's View
5
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Jul 17 2025 - Daily Market Reports

Latest Wealth Management & Investments News

1
Weekly Update On LICs & LITs – 22-Jul-2025

Jul 22 2025 - Weekly Reports
2
June Quarter: Hub24 Outgrows Netwealth

Jul 18 2025 - Australia
3
Synergies Support Platinum-L1 Capital Merger

Jul 15 2025 - Australia
4
Weekly Update On LICs & LITs – 15-Jul-2025

Jul 15 2025 - Weekly Reports
5
Monthly Listed Investment Trust Report – Jul 2025

Jul 09 2025 - Australia
6
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Jul 08 2025 - Weekly Reports
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Jul 08 2025 - Technicals
8
Weekly Update On LICs & LITs – 02-Jul-2025

Jul 02 2025 - Weekly Reports
9
GQG Partners’ Low Cost Model Appeals

Jul 01 2025 - Australia
10
Pinnacle’s Horizons Target Global Growth

Jun 26 2025 - Small Caps