NETWEALTH GROUP LIMITED (NWL)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

NWL

NWL - NETWEALTH GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 0.09
Index: ASX100 | 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

$30.64

08 Oct
2025

0.480

OPEN

$29.95

1.59%

HIGH

$30.67

372,179

LOW

$29.83

TARGET
$33.161 8.2% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
NWL: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 47.6 55.0 xxx
DPS (cps) xxx 38.5 45.0 xxx
EPS Growth xxx 39.4% 15.4% xxx
DPS Growth xxx 37.5% 16.9% xxx
PE Ratio xxx N/A 56.2 xxx
Dividend Yield xxx N/A 1.5% xxx
Div Pay Ratio(%) xxx 80.8% 81.9% xxx

Dividend yield today if purchased 3 years ago: 3.22%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.25

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: 26/08 - ex-div 14c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 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

0.0

No. Of Recommendations

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

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

22/08/2025

1

Overweight

$41.50

35.44%

Netwealth Group delivered FY25 revenue of $324m, up 27% year-on-year and in line with consensus, while earnings (EBITDA) rose 31% to $163.5m, just below Morgan Stanley's forecast.

EPS increased 39% to 47.5c, supported by a lower tax rate, explains the broker, while cash flow conversion was strong at 103% and net cash lifted to $149m.

Funds under administration (FUA) rose 28% to $112.8bn, with accounts up 13% to 162,200 and intermediaries up 6% to 4,000. Net inflows of $5.7bn have already taken FUA to $118.5bn by August, in a strong start to FY26, notes the broker.

The analysts expect net inflows in FY26 to remain consistent with FY25, while reinvestment in software and discretionary opex will weigh on margins. 

Target $41.50. Overweight rating. Industry View: In-Line. 

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 45.60 cents and EPS of 57.00 cents.
Morgan Stanley forecasts a full year FY27 EPS of 67.00 cents.

Ord Minnett

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$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

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

25/08/2025

3

Hold

$36.25

18.31%

Netwealth Group's FY25 EBITDA missed consensus by -1.5% but net profit was in line. Canaccord Genuity notes cost growth was higher due to investments into growth initiatives, but 27% of revenue growth still resulted in a 31% EBITDA increase.

The broker lifted FY26 revenue forecast by 0.6% and FY27 by 2.9% on higher cash transaction account as a proportion of funds under administration, higher cash margin and other fees.

Expense forecast was also lifted in line with the company's guidance, resulting in a -3.1% cut to FY26 EBITDA and -1.4% cut to FY27.

Hold. Target rises to $36.25 from $35.50.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 42.00 cents and EPS of 55.70 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 52.50 cents and EPS of 65.50 cents.
Access Extra Coverage Research History >

NWL STOCK CHART

FNArena News on NWL

1
Australian Broker Call *Extra* Edition – Oct 01, 2025

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2
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4
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5
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