PINNACLE INVESTMENT MANAGEMENT GROUP LIMITED (PNI)
Share Price Analysis and Chart

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PNI

PNI - PINNACLE INVESTMENT MANAGEMENT GROUP LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 4.53
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$21.10

22 Aug
2025

-0.020

OPEN

$21.06

-0.09%

HIGH

$21.11

881,677

LOW

$20.61

TARGET
$25.033 18.6% upside
Franking for last dividend paid out: 88%
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 . MQG . NGI . NWL . PAC . PPS . PPT . PTM . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
PNI: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 63.2 70.7 xxx
DPS (cps) xxx 60.0 62.8 xxx
EPS Growth xxx 38.0% 11.8% xxx
DPS Growth xxx 42.9% 4.6% xxx
PE Ratio xxx N/A 29.8 xxx
Dividend Yield xxx N/A 3.0% xxx
Div Pay Ratio(%) xxx 94.9% 88.8% xxx

Dividend yield today if purchased 3 years ago: 5.60%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.84

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: 02/09 - ex-div 26.40c (franking 70%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx63.2
DPS All xxxxxxxxxxxxxxx60.0
Sales/Revenue xxxxxxxxxxxxxxx77.8 M
Book Value Per Share xxxxxxxxxxxxxxx428.5
Net Operating Cash Flow xxxxxxxxxxxxxxx124.3 M
Net Profit Margin xxxxxxxxxxxxxxx172.77 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx19.56 %
Return on Invested Capital xxxxxxxxxxxxxxx16.91 %
Return on Assets xxxxxxxxxxxxxxx16.35 %
Return on Equity xxxxxxxxxxxxxxx19.56 %
Return on Total Capital xxxxxxxxxxxxxxx2.77 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-1.5 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 xxxxxxxxxxxxxxx108 M
Total Debt xxxxxxxxxxxxxxx110 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx27 M
Price To Book Value xxxxxxxxxxxxxxx4.79

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx0.3 M
Capex % of Sales xxxxxxxxxxxxxxx0.42 %
Cost of Goods Sold xxxxxxxxxxxxxxx2 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx53 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx437 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

0.6

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xx-xxxxxxxxxx xx xxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

2

xxxxxxxxx xx xxxxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Macquarie

06/08/2025

1

Outperform

$25.33

20.05%

Pinnacle Investment Management's FY25 earnings (EPS) came in -3.5% below Macquarie expectations, primarily due to lower 2H25 performance fees compared to historical averages.

The earnings outlook remains positive, suggests the analyst, underpinned by operating leverage from affiliates such as Metrics and Life Cycle.

Metrics’ expansion includes Navalo and Horizon 2 initiatives, explains the broker, which impacted profit in FY25 but are expected to deliver scale and synergies following acquisitions of BC, Taurus and Payright.

Life Cycle contributed to FY25’s strong $23.1bn net inflows, reaching $15.4bn in FUM and achieving profitability in 2H25, the fastest ramp-up for any Pinnacle affiliate, highlights Macquarie.

The target price rises to $25.33 from $25.10. Outperform rating maintained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 55.00 cents and EPS of 65.60 cents.
Macquarie forecasts a full year FY27 dividend of 68.00 cents and EPS of 81.10 cents.

UBS

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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Wilsons

07/07/2025

1

Overweight

$25.75

22.04%

Wilsons maintains an Overweight rating for Pinnacle Investment Management and raises its price target to $25.75 from $25.00.

This change follows a model revision by the broker incorporating a stronger funds under management (FUM) base and improved affiliate performance.

The analyst's FY25 profit forecast stands at $133.6m, supported by $171.5bn of FUM and $43.9m in gross performance fees for 2H25.

A one-off accrual reversal at Metrics led to a -6% downgrade to reported 2H25 performance fees. Excluding this, the broker's underlying estimates rose 14%, driven by strong showings from Plato, Langdon Global, Firetrail, and Palisade.

Wilsons forecasts $171.5b in funds under management (FUM) for Pinnacle Investment Management at the August results.

FORECAST
Wilsons forecasts a full year FY26 dividend of 64.00 cents and EPS of 64.90 cents.
Access Extra Coverage Research History >

PNI STOCK CHART

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