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

$209.99

28 May
2025

-0.010

OPEN

$212.53

0.00%

HIGH

$213.76

580,330

LOW

$208.38

TARGET
$211.578 0.8% upside
Franking for last dividend paid out: 30%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . BVS . CGF . CVW . DJW . ENN . GDC . GDG . GQG . HMC . HUB . IFL . IFT . IRE . KAM . KSL . MAF . MFG . NGI . NWL . PAC . PNI . PPS . PPT . PTM . 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 1083.6 xxx
DPS (cps) xxx 650.0 716.8 xxx
EPS Growth xxx 6.9% 10.6% xxx
DPS Growth xxx 1.6% 10.3% xxx
PE Ratio xxx N/A 19.6 xxx
Dividend Yield xxx N/A 3.4% xxx
Div Pay Ratio(%) xxx 66.4% 66.1% xxx

Dividend yield today if purchased 3 years ago: 3.55%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.07

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: 13/05 - ex-div 385c (franking 40%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx979.4
DPS All xxxxxxxxxxxxxxx650.0
Sales/Revenue xxxxxxxxxxxxxxx32,008.0 M
Book Value Per Share xxxxxxxxxxxxxxx9,696.3
Net Operating Cash Flow xxxxxxxxxxxxxxx2,878.0 M
Net Profit Margin xxxxxxxxxxxxxxx11.19 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx10.41 %
Return on Invested Capital xxxxxxxxxxxxxxx2.95 %
Return on Assets xxxxxxxxxxxxxxx0.84 %
Return on Equity xxxxxxxxxxxxxxx10.41 %
Return on Total Capital xxxxxxxxxxxxxxx1.67 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-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 xxxxxxxxxxxxxxx69,177 M
Long Term Debt xxxxxxxxxxxxxxx88,270 M
Total Debt xxxxxxxxxxxxxxx157,447 M
Goodwill - Gross xxxxxxxxxxxxxxx1,159 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx92,964 M
Price To Book Value xxxxxxxxxxxxxxx2.03

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx1,065.0 M
Capex % of Sales xxxxxxxxxxxxxxx3.33 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4,947 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx80,760 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

0.3

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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UBS

12/05/2025

3

Neutral

$225.00

7.15%

UBS notes Macquarie Group reported an in-line result, with the FY25 net profit after tax slightly better by 40bps.

Earnings were boosted by asset sales within MAM and a reduced tax rate of around 23% in 2H25, despite increased credit impairment charges.

The analyst believes it is challenging to forecast the group's earnings due to uncertainty around tariffs, global trade, and market conditions, but raises the FY26 earnings estimate by 4.1%.

For FY28, the earnings forecast is lowered by -1.6%, notably within MAM, which is undergoing changes in the US.

Neutral rating retained, with the target price lowered to $225 from $235.

FORECAST
UBS forecasts a full year FY26 dividend of 700.00 cents and EPS of 1094.00 cents.
UBS forecasts a full year FY27 dividend of 720.00 cents and EPS of 1147.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial
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

30/04/2025

4

Underweight

$200.00

-4.76%

Ahead of upcoming banks' half-yearly results, Jarden notes fundamentals have been set aside in favour of flows and passive in recent weeks, with CommBank ((CBA)) emerging as the most loved stock. 

The broker expects net margin compression across all majors except ANZ Bank, due to shifts in deposit mix and lending competition. Buybacks are also seen as less likely as banks' preference would be to lift CET1 target by 25bps to 11.25-11.75%.

The broker expects Macquarie Group to report FY25 net profit of $3.64bn, -2% lower vs consensus. Focus will be on FY26 guidance where the broker's current forecast is $4.18bn, 1% higher vs consensus.

In a separate note, the broker notes the "surprising" announcement of divestment of North American and European public investment business to Nomura for $2.8bn. The transaction will be incorporated into the forecasts once the FY25 results are announced.

Underweight. Target unchanged at $200.

FORECAST
Jarden forecasts a full year FY26 dividend of 720.00 cents and EPS of 1046.00 cents.
Access Extra Coverage Research History >

MQG STOCK CHART

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