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: 0.38
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

$21.50

27 Aug
2026

-0.770

OPEN

$22.21

-3.46%

HIGH

$22.66

1,255,709

LOW

$21.07

TARGET
$28.329 31.8% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
NWL: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 24.7 58.5 xxx
DPS (cps) xxx 42.0 46.9 xxx
EPS Growth xxx - 48.1% 100.0% xxx
DPS Growth xxx 9.1% 11.7% xxx
PE Ratio xxx N/A 36.6 xxx
Dividend Yield xxx N/A 2.2% xxx
Div Pay Ratio(%) xxx 169.9% 80.1% xxx

Dividend yield today if purchased 3 years ago: 2.78%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.96

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 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx24.7
DPS All xxxxxxxxxxxxxxx42.0
Sales/Revenue xxxxxxxxxxxxxxx382.9 M
Book Value Per Share xxxxxxxxxxxxxxx66.0
Net Operating Cash Flow xxxxxxxxxxxxxxx57.9 M
Net Profit Margin xxxxxxxxxxxxxxx15.84 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx33.60 %
Return on Invested Capital xxxxxxxxxxxxxxx28.95 %
Return on Assets xxxxxxxxxxxxxxx22.73 %
Return on Equity xxxxxxxxxxxxxxx33.60 %
Return on Total Capital xxxxxxxxxxxxxxx79.35 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-46.8 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx24 M
Long Term Debt xxxxxxxxxxxxxxx46 M
Total Debt xxxxxxxxxxxxxxx70 M
Goodwill - Gross xxxxxxxxxxxxxxx2 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx174 M
Price To Book Value xxxxxxxxxxxxxxx31.16

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx13.5 M
Capex % of Sales xxxxxxxxxxxxxxx3.52 %
Cost of Goods Sold xxxxxxxxxxxxxxx154 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx52 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

0.8

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx 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

27/08/2026

3

Neutral

$24.00

11.63%

Post another peek, UBS lowers the target to $24 from $26 and retains a Neutral rating.

EPS forecasts are trimmed by -3% for FY27 and -4% for FY28 on lower 1Q27 net flows, inferring FY27 flows forecast at the low end of guidance as well as pressure on margins. Both factors are noted for being somewhat offset by lower opex.

First read: FY26 underlying NPAT was 2% ahead of consensus, although UBS notes the beat was assisted by a lower tax rate and finance costs.

At the operating level, 2H EBITDA was broadly in line, as revenue around -2% below expectations was offset by lower operating costs, with weaker ancillary revenue contributing to the revenue miss.

FY27 guidance is for $18bn–$20bn of FUA net flows and an EBITDA margin of around 47%, both broadly in line with expectations.

The analyst highlights a weak start to FY27, with underlying flows over the first seven weeks implying around $2.8bn for 1Q, some -20% below UBS and consensus forecasts of $4.3bn.

UBS expects revenue margin pressure, combined with unchanged EBITDA margin guidance, to result in modest downgrades to operating earnings.

FORECAST
UBS forecasts a full year FY27 dividend of 45.00 cents and EPS of 59.00 cents.
UBS forecasts a full year FY28 dividend of 53.00 cents and EPS of 70.00 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$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

30/08/2026

3

Neutral

$24.45

13.72%

Jarden retains a Neutral rating for Netwealth Group with its target price decreased to $24.45 from $24.70, citing recent stock underperformance and near-term margin risks.

Despite the underlying FY26 result beating expectations, commentary notes a weak start to FY27 net flows alongside a soft organic and IDPS base.

As a result, the broker views the company's FY27 FUA net flow guidance as increasingly reliant on the MS transition.

Given expectations that the revenue density per dollar of FUA for the transition will be lower than the existing portfolio, the broker trims FY27 FUA net flow estimates to $18.2bn and reduces FY27 platform revenue forecasts to account for tiering and capping impacts.
Access Extra Coverage Research History >

NWL STOCK CHART

FNArena News on NWL

1
Australian Broker Call *Extra* Edition – Aug 28, 2026

Aug 28 2026 - Daily Market Reports
2
In Brief: Nuix, Abacus Group & NetWealth Group

Aug 28 2026 - Weekly Reports
3
FNArena Corporate Results Monitor – 27-08-2026

Aug 27 2026 - Australia
4
Rudi Interviewed: Bear Market Be Gone

Aug 13 2026 - Rudi's View
5
Rudi’s View: That’s The Way Markets Crumble

Aug 06 2026 - Rudi's View

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