MACQUARIE GROUP LIMITED (MQG)
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MQG

MQG - MACQUARIE GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: March
GICS Industry Group : Diversified Financials
Debt/EBITDA: N/A
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Macquarie Group is an Australian multinational investment bank and financial services company operating in 25 countries. It is one of the world's largest infrastructure asset managers with over $495bn in AUM. It was founded in 1969 and listed in November 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$237.88

04 May
2026

-0.310

OPEN

$238.82

-0.13%

HIGH

$240.00

277,698

LOW

$237.15

TARGET
$240.704 1.2% upside
Franking for last dividend paid out: 35%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . BVS . CGF . CVW . DJW . ENN . GDG . GQG . HMC . HUB . IFT . IRE . KAM . KSL . MAF . MFG . NGI . NWL . PAC . PNI . PPS . PPT . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
MQG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 979.4 1132.9 xxx
DPS (cps) xxx 650.0 726.0 xxx
EPS Growth xxx 6.9% 15.7% xxx
DPS Growth xxx 1.6% 11.7% xxx
PE Ratio xxx N/A 20.9 xxx
Dividend Yield xxx N/A 3.1% xxx
Div Pay Ratio(%) xxx 66.4% 64.1% xxx

Dividend yield today if purchased 3 years ago: 3.67%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.74

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: 17/11 - ex-div 280c (franking 35%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic 791.0842.91,271.71,353.7916.6979.4
DPS All 430.0470.0622.0750.0640.0650.0
Sales/Revenue 15,946.0 M13,901.0 M16,393.0 M25,181.0 M29,872.0 M32,008.0 M
Book Value Per Share 6,193.36,357.87,752.48,966.89,171.69,696.3
Net Operating Cash Flow 2,977.0 M-1,637.0 M10,549.0 M-6,668.0 M-7,125.0 M2,878.0 M
Net Profit Margin 16.53 %20.98 %27.81 %19.92 %11.33 %11.19 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed 13.58 %13.53 %18.02 %16.25 %10.16 %10.41 %
Return on Invested Capital 3.49 %3.45 %4.98 %4.64 %2.92 %2.95 %
Return on Assets 1.15 %1.16 %1.41 %1.27 %0.85 %0.84 %
Return on Equity 13.58 %13.53 %18.02 %16.25 %10.16 %10.41 %
Return on Total Capital 2.08 %2.50 %2.66 %2.62 %1.84 %1.67 %
Free Cash Flow ex dividends -310.0 M-3,259.0 M7,861.0 M-9,502.0 M-11,744.0 M-374.0 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 202020212022202320242025
Short-Term Debt 23,731 M28,017 M65,521 M62,309 M62,125 M69,177 M
Long Term Debt 68,607 M57,448 M74,948 M79,482 M85,471 M88,270 M
Total Debt 92,338 M85,465 M140,469 M141,791 M147,596 M157,447 M
Goodwill - Gross 1,975 M1,354 M1,900 M2,037 M2,408 M1,159 M
Cash & Equivalents - Generic 47,427 M55,106 M103,951 M99,979 M90,271 M92,964 M
Price To Book Value 1.382.402.621.962.182.03

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 1,165.0 M761.0 M977.0 M824.0 M1,957.0 M1,065.0 M
Capex % of Sales 7.31 %5.47 %5.96 %3.27 %6.55 %3.33 %
Cost of Goods Sold ------
Selling, General & Admin. Exp & Other 2,869 M2,319 M3,370 M4,296 M4,649 M4,947 M
Research & Development ------
Investments - Total 71,392 M51,954 M110,596 M74,869 M76,369 M80,760 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

UBS

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

13/04/2026

3

Neutral

$220.00

-7.52%

Citi notes Australian banks lagged the ASX200 by around -10% into the February reporting season despite a circa 40-50bps rise in swaps, but have since outperformed by around 10% into May as swaps added a further circa 40-50bps.

Economists now expect two additional rate hikes to a 4.60% peak, alongside weaker growth and higher inflation. This stagflationary backdrop is negative for banks, with net interest margin benefits from higher rates offset by slower growth and rising credit risks.

Earnings revisions for the banks remain largely unchanged.

Target price for Macquarie Group is lifted to $220 from $210 with a Neutral rating retained.

FORECAST
Citi forecasts a full year FY26 dividend of 720.00 cents and EPS of 1073.50 cents.
Citi forecasts a full year FY27 dividend of 760.00 cents and EPS of 1170.30 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

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

1

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

04/05/2026

1

Buy

$240.00

0.89%

Positively for banks, Jarden highlights strong system credit growth in March of 8.1% yoy, driven by a 9.9% rise in corporate lending, with household and personal lending also expanding.

Macro conditions remain resilient, with low unemployment and supportive fiscal settings, though the broker cautions inflation at 3.3% remains above the RBA target and may persist.

The analysts see 2026 as "the year of the deposit", with asset spreads tightening while deposit competition intensifies, putting pressure on margins.

Macquarie Group is identified as a key disruptor outperforming the majors, gaining share across both lending and deposits through its digital platform.

The Buy rating and $240 target are maintained.

FORECAST
Jarden forecasts a full year FY26 dividend of 700.00 cents and EPS of 1091.40 cents.
Jarden forecasts a full year FY27 dividend of 830.00 cents and EPS of 1296.40 cents.
Access Extra Coverage Research History >

MQG STOCK CHART

FNArena News on MQG

1
Macquarie Shares Poised For New Highs

May 05 2026 - Technicals
2
Australian Broker Call *Extra* Edition – May 04, 2026

May 04 2026 - Daily Market Reports
3
Next Week At A Glance – 4-8 May 2026

May 01 2026 - Weekly Reports
4
Rudi’s View: More Downgrades Are Coming

Apr 29 2026 - Rudi's View
5
Weekly Ratings, Targets, Forecast Changes – 24-04-26

Apr 27 2026 - Weekly Reports

Latest Wealth Management & Investments News

1
Macquarie Shares Poised For New Highs

May 05 2026 - Technicals
2
Rising Regulatory Risk for Hub24 & Netwealth?

Apr 29 2026 - Australia
3
Too Much Property, Not Enough Equities?

Apr 28 2026 - SMSFundamentals
4
Weekly Update On LICs & LITs – 28-Apr-2026

Apr 28 2026 - Weekly Reports
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Apr 14 2026 - Weekly Reports
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Apr 08 2026 - Weekly Reports
8
Opportunity In ‘Mini Macquarie’ Weakness

Mar 31 2026 - Small Caps
9
Weekly Update On LICs & LITs – 31-Mar-2026

Mar 31 2026 - Weekly Reports
10
Australian Listed Real Estate Tables – 30-03-2026

Mar 30 2026 - Weekly Reports