MAGELLAN FINANCIAL GROUP LIMITED (MFG)
Share Price Analysis and Chart

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MFG - MAGELLAN FINANCIAL GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 0.02
Index: ASX200 | ASX300 | ALL-ORDS

Magellan Financial is a global investment company specialising in global equities and global listed infrastructure. It was formed in 2006 and has offices in Australia, New Zealand and the US. It acquired Airlie Funds in Australia in 2016.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$10.69

20 Nov
2024

-0.080

OPEN

$10.73

-0.74%

HIGH

$10.91

500,857

LOW

$10.62

TARGET
$10.06 -5.9% downside
Franking for last dividend paid out: 50%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . AVC . BVS . CGF . CVW . ENN . GDC . GDG . GQG . HMC . HUB . IFL . IFT . IRE . KAM . KSL . MAF . MQG . NGI . NWL . PAC . PNI . PPS . PPT . PTM . QAL . RPL . RZI .
FNARENA'S MARKET CONSENSUS FORECASTS
MFG: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 131.9 68.3 xxx
DPS (cps) xxx 65.1 54.9 xxx
EPS Growth xxx 31.8% - 48.2% xxx
DPS Growth xxx - 44.2% - 15.7% xxx
PE Ratio xxx N/A 15.5 xxx
Dividend Yield xxx N/A 5.2% xxx
Div Pay Ratio(%) xxx 49.4% 80.4% xxx

Dividend yield today if purchased 3 years ago: 1.87%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.15

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: 20/08 - ex-div 35.70c (franking 50%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx131.9
DPS All xxxxxxxxxxxxxxx65.1
Sales/Revenue xxxxxxxxxxxxxxx348.7 M
Book Value Per Share xxxxxxxxxxxxxxx566.8
Net Operating Cash Flow xxxxxxxxxxxxxxx47.4 M
Net Profit Margin xxxxxxxxxxxxxxx68.48 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx24.09 %
Return on Invested Capital xxxxxxxxxxxxxxx23.94 %
Return on Assets xxxxxxxxxxxxxxx20.87 %
Return on Equity xxxxxxxxxxxxxxx24.09 %
Return on Total Capital xxxxxxxxxxxxxxx32.90 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-131.8 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 xxxxxxxxxxxxxxx5 M
Total Debt xxxxxxxxxxxxxxx8 M
Goodwill - Gross xxxxxxxxxxxxxxx106 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx324 M
Price To Book Value xxxxxxxxxxxxxxx1.49

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx0.5 M
Capex % of Sales xxxxxxxxxxxxxxx0.13 %
Cost of Goods Sold xxxxxxxxxxxxxxx93 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx-74 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx405 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

-0.3

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

16/08/2024

3

Downgrade to Neutral from Buy

$10.80

1.03%

Following FY24 results, UBS raises its target for Magellan Financial to $10.80 from $10.50 and downgrades to Neutral from Buy on valuation.

The broker suggests the positive share price reaction on the day reflects a reassessment of associates (stronger contribution from Barrenjoey in FY24) where carrying values are understated, and the Vinva Investment Management transaction.

The Vinva deal signals a shift to growth in adjacencies from stabilisation, suggests the analyst.

The FY24 core Funds Management business delivered broadly in line with consensus, with the 4% adjusted profit beat driven
by a stronger contribution from Barrenjoey, explains UBS.

FORECAST
UBS forecasts a full year FY25 EPS of 53.00 cents.

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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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

3

xxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

08/10/2024

3

Neutral

$10.10

-5.52%

Magellan Financial reported a rise in FUM of $1.4bn for the 1Q25, Goldman Sachs highlights, due to robust equity markets offsetting retail outflows of -$1bn and a higher Australia dollar.

The analyst believes the retail outflows at around -$0.2bn per month are on track against improved institutional inflows for July.

Magellan Financial experienced a rise of around 3% in funds over the month to September for Airlie, with global equities down circa -2% over the same period and infrastructure up 2%.

No change to Neutral rating. Target price lifts to $10.10 from $10.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 64.00 cents and EPS of 77.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 52.00 cents and EPS of 74.00 cents.
Access Extra Coverage Research History >

MFG STOCK CHART

FNArena News on MFG

1
Australian Broker Call *Extra* Edition – Nov 07, 2024

Nov 07 2024 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 11-10-24

Oct 14 2024 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Oct 08, 2024

Oct 08 2024 - Daily Market Reports
4
Caution & Gyrations Dominated August Results

Sep 02 2024 - Australia
5
Rudi’s View: August Paints A Bifurcated Picture

Aug 21 2024 - Rudi's View

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