NETWEALTH GROUP LIMITED (NWL)
Share Price Analysis and Chart

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NWL

NWL - NETWEALTH GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 0.09
Index: ASX200 | ASX300 | ALL-ORDS

Netwealth is an Australian financial platform operator offering superannuation, retirement, investment and managed account facilities. Founded in 1999 it became a listed company in 2017.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$23.35

09 Jul
2026

-0.140

OPEN

$23.10

-0.60%

HIGH

$23.75

788,600

LOW

$23.10

TARGET
$28.857 23.6% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . BVS . CGF . CVW . DJW . ENN . GDG . GQG . HMC . HUB . IFT . IRE . KAM . KSL . MAF . MFG . MQG . NGI . PAC . PNI . PPS . PPT . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
NWL: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 47.6 49.6 xxx
DPS (cps) xxx 38.5 43.6 xxx
EPS Growth xxx 39.4% 4.0% xxx
DPS Growth xxx 37.5% 13.4% xxx
PE Ratio xxx N/A 48.2 xxx
Dividend Yield xxx N/A 1.8% xxx
Div Pay Ratio(%) xxx 80.8% 88.1% xxx

Dividend yield today if purchased 3 years ago: 2.80%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.61

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: 03/09 - ex-div 21.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx47.6
DPS All xxxxxxxxxxxxxxx38.5
Sales/Revenue xxxxxxxxxxxxxxx316.4 M
Book Value Per Share xxxxxxxxxxxxxxx81.3
Net Operating Cash Flow xxxxxxxxxxxxxxx126.8 M
Net Profit Margin xxxxxxxxxxxxxxx36.83 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx67.81 %
Return on Invested Capital xxxxxxxxxxxxxxx63.27 %
Return on Assets xxxxxxxxxxxxxxx52.16 %
Return on Equity xxxxxxxxxxxxxxx67.81 %
Return on Total Capital xxxxxxxxxxxxxxx80.46 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx48.2 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 xxxxxxxxxxxxxxx2 M
Long Term Debt xxxxxxxxxxxxxxx12 M
Total Debt xxxxxxxxxxxxxxx14 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx173 M
Price To Book Value xxxxxxxxxxxxxxx41.33

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx7.9 M
Capex % of Sales xxxxxxxxxxxxxxx2.50 %
Cost of Goods Sold xxxxxxxxxxxxxxx124 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx42 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

0.7

No. Of Recommendations

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

Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

08/07/2026

3

Neutral

$26.00

11.35%

Netwealth Group has announced a partnership with Morgan Stanley Wealth Management Australia. Growth in its broking and private wealth markets is expected to partially underpin ambitions to double funds under administration by FY30.

UBS calculates this would drive 16% compound growth in revenue but at the expense of a more subdued margin outlook.

The stock appears clear of margin re-set risk as the visibility over long-term growth has improved, yet the broker notes uncertainty still remains around the short term as the June cyclical slowdown may persist into the first quarter of FY27.

Striking the right balance between growth and margin has been a key debate for the stock and UBS retains a Neutral rating. Target is raised to $26.00 from $24.45.

FORECAST
UBS forecasts a full year FY26 dividend of 44.00 cents and EPS of 56.00 cents.
UBS forecasts a full year FY27 dividend of 49.00 cents and EPS of 61.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

09/07/2026

3

Neutral

$25.00

7.07%

Jarden retains its Neutral rating for Netwealth Group with its target price increased to $25.00 following a strategic organisational pivot favouring long-term volume growth over near-term operating margins.

The analyst notes the newly executed commercial agreement with Morgan Stanley underwrites expansion within the high-net-worth broking segment, successfully diversifying revenue streams away from the decelerating retail advisory market.

Preliminary full-year figures show FY26 annual net inflows missed consensus expectations at $15.4bn due to temporary macroeconomic and regulatory crosscurrents in the final quarter.

Management introduced stronger FY27 net flow guidance of $18bn to $20bn alongside an ambitious multi-year target to double total funds under administration over four years.

Underlying earnings estimates are trimmed over the near term to accommodate an expected step-up in growth-focused technology investments and institutional product mix dilution.

FORECAST
Jarden forecasts a full year FY26 dividend of 44.20 cents and EPS of 54.60 cents.
Jarden forecasts a full year FY27 dividend of 48.30 cents and EPS of 59.30 cents.
Access Extra Coverage Research History >

NWL STOCK CHART

FNArena News on NWL

1
Netwealth Sacrifices Margin For Growth

Jul 10 2026 - Small Caps
2
Rudi’s View: July’s Stock Pickers’ Favourites

Jul 09 2026 - Rudi's View
3
Australian Broker Call *Extra* Edition – Jul 09, 2026

Jul 09 2026 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 03-07-26

Jul 06 2026 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Jun 25, 2026

Jun 25 2026 - Daily Market Reports

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