NETWEALTH GROUP LIMITED (NWL)
Share Price Analysis and Chart

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NWL

NWL - NETWEALTH GROUP LIMITED

Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 0.13
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

$28.39

02 May
2025

0.330

OPEN

$28.07

1.18%

HIGH

$28.64

412,542

LOW

$27.97

TARGET
$26.179 -7.8% downside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
NWL: 1
Title FY23
Actual
FY24
Actual
FY25
Forecast
FY26
Forecast
EPS (cps) xxx 34.2 46.8 xxx
DPS (cps) xxx 28.0 37.2 xxx
EPS Growth xxx 24.0% 37.0% xxx
DPS Growth xxx 16.7% 32.9% xxx
PE Ratio xxx N/A 59.7 xxx
Dividend Yield xxx N/A 1.3% xxx
Div Pay Ratio(%) xxx 82.0% 79.5% xxx

Dividend yield today if purchased 3 years ago: 2.20%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

1.00

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 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx34.2
DPS All xxxxxxxxxxxxxxx28.0
Sales/Revenue xxxxxxxxxxxxxxx249.5 M
Book Value Per Share xxxxxxxxxxxxxxx59.2
Net Operating Cash Flow xxxxxxxxxxxxxxx90.0 M
Net Profit Margin xxxxxxxxxxxxxxx33.41 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx62.32 %
Return on Invested Capital xxxxxxxxxxxxxxx56.94 %
Return on Assets xxxxxxxxxxxxxxx47.45 %
Return on Equity xxxxxxxxxxxxxxx62.32 %
Return on Total Capital xxxxxxxxxxxxxxx78.07 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx23.3 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx2 M
Long Term Debt xxxxxxxxxxxxxxx13 M
Total Debt xxxxxxxxxxxxxxx15 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx127 M
Price To Book Value xxxxxxxxxxxxxxx37.44

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx4.9 M
Capex % of Sales xxxxxxxxxxxxxxx1.97 %
Cost of Goods Sold xxxxxxxxxxxxxxx103 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx31 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx4 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

0.2

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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Morgan Stanley

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxx-xxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

14/04/2025

3

Neutral

$28.40

0.04%

Netwealth Group's 3Q25 custodial inflow of $3.5bn was in line with consensus and the company guided to "seasonally strong" June quarter net inflow, but Macquarie trimmed its forecast to $7.5bn for 2H.

The broker notes member accounts rose in 3Q, but market weakness dragged down FUA by -1. Cash balances rose to 5.6% of FUA and increased further to 5.8% in the early April period.

The company pointed to a 5% rise in 2H opex and software investment of $2m, plus a rise in headcount.

EPS forecast for FY25 cut by -1%, but FY26 was lowered significantly by -12% on market movements and lower inflow estimates.

Neutral. Target cut to $28.40 from $33.90.

FORECAST
Macquarie forecasts a full year FY25 dividend of 36.00 cents and EPS of 45.20 cents.
Macquarie forecasts a full year FY26 dividend of 40.50 cents and EPS of 50.60 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

Wilsons

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

15/04/2025

3

Hold

$31.60

11.31%

Canaccord Genuity notes Netwealth Group reported record net inflows for 3Q25 and is a step up from the previous quarter, the analyst states, rising 29% on a year earlier.

Total funds under administration rose 23% on the previous year to $104.1bn, with FUM net flows of $51bn, a rise of 51%, which was slightly above consensus expectations.

Management reiterated prior guidance at the 1H25 results, including a rise of 5% in operational expenses, including a higher headcount and software investment.

Hold rated with a target of $31.60.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 34.00 cents and EPS of 45.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 42.00 cents and EPS of 56.00 cents.

Jarden

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxxxxxxxxx

$xx.xx

xx.xx%

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NWL STOCK CHART