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

$223.89

09 Apr
2026

-0.210

OPEN

$221.08

-0.09%

HIGH

$224.09

718,271

LOW

$220.31

TARGET
$229.304 2.4% 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 . IFL . 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 1127.4 xxx
DPS (cps) xxx 650.0 718.5 xxx
EPS Growth xxx 6.9% 15.1% xxx
DPS Growth xxx 1.6% 10.5% xxx
PE Ratio xxx N/A 20.0 xxx
Dividend Yield xxx N/A 3.2% xxx
Div Pay Ratio(%) xxx 66.4% 63.7% xxx

Dividend yield today if purchased 3 years ago: 3.63%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.89

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 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

0.4

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Citi

09/03/2026

3

Neutral

$210.00

-6.20%

Macquarie Group has underperformed recently, with Citi suggesting market concerns around economic risk, private credit and AI disruption appear overdone.

The “high beta” banks fell more sharply than major bank peers amid heightened volatility linked to Middle Eastern conflict and macro uncertainty, the analysts explain.

Macquarie Group faces risks from private credit and technology exposure, in the broker's view, though commodity volatility and asset realisations could provide near-term offsets.

Neutral rating and $210 target retained.

The broker's order of preference among the big four banks places Buy-rated ANZ Bank ((ANZ)) on top, followed by Westpac (WBC)) on Neutral, then Sell ratings for National Australia Bank ((NAB)) and CommBank ((CBA)).

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.

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

UBS

xx/xx/xxxx

1

xxx

$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

09/04/2026

1

Buy

$240.00

7.20%

Australian private sector credit growth was 7.8% year-on-year in February 2026, and business credit growth remained strong, rising by 9.5%, observes Jarden.

The broker notes Macquarie Group continues to outperform the major banks, supported by a superior, fully digitised platform.

At the current pace, the group is expected to surpass around 10% market share on both sides of the balance sheet in the near term.

Jarden retains a Buy rating and $240 target for Macquarie Group.

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
Next Week At A Glance – 13-17 Apr 2026

Apr 10 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Apr 09, 2026

Apr 09 2026 - Daily Market Reports
3
Next Week At A Glance – 7-10 Apr 2026

Apr 03 2026 - Weekly Reports
4
Opportunity In ‘Mini Macquarie’ Weakness

Mar 31 2026 - Small Caps
5
ASIC Watch: Record $350m Penalty Haul Signals Litigation Super-Cycle

Mar 30 2026 - Australia

Latest Wealth Management & Investments News

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Weekly Update On LICs & LITs – 08-Apr-2026

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

Mar 31 2026 - Small Caps
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