PINNACLE INVESTMENT MANAGEMENT GROUP LIMITED (PNI)
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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: 13.11
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$18.18

24 Mar
2025

-0.430

OPEN

$18.47

-2.31%

HIGH

$18.65

974,299

LOW

$18.02

TARGET
$27.018 48.6% upside
Franking for last dividend paid out: 72%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . AVC . BVS . CGF . CVW . DJW . ENN . GDC . 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 FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 45.8 66.9 xxx
DPS (cps) xxx 42.0 56.8 xxx
EPS Growth xxx 16.4% 46.0% xxx
DPS Growth xxx 16.7% 35.2% xxx
PE Ratio xxx N/A 27.7 xxx
Dividend Yield xxx N/A 3.1% xxx
Div Pay Ratio(%) xxx 91.7% 84.9% xxx

Dividend yield today if purchased 3 years ago: 4.18%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.27

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 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx45.8
DPS All xxxxxxxxxxxxxxx42.0
Sales/Revenue xxxxxxxxxxxxxxx56.6 M
Book Value Per Share xxxxxxxxxxxxxxx235.8
Net Operating Cash Flow xxxxxxxxxxxxxxx76.7 M
Net Profit Margin xxxxxxxxxxxxxxx159.57 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx20.57 %
Return on Invested Capital xxxxxxxxxxxxxxx16.64 %
Return on Assets xxxxxxxxxxxxxxx15.91 %
Return on Equity xxxxxxxxxxxxxxx20.57 %
Return on Total Capital xxxxxxxxxxxxxxx1.25 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx5.7 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 xxxxxxxxxxxxxxx108 M
Total Debt xxxxxxxxxxxxxxx109 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx33 M
Price To Book Value xxxxxxxxxxxxxxx6.01

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.06 %
Cost of Goods Sold xxxxxxxxxxxxxxx1 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx48 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx154 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

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

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

05/02/2025

1

Outperform

$27.37

50.55%

Pinnacle Investment Management's 1H EPS exceeded Macquarie's expectations by 18%, driven by a 92% year-on-year increase in performance fees and fair value gains.

Funds under management (FUM) reached a record $155.4bn, up 55% year-on-year, supported by $6.7bn in inflows, $27.9bn from acquisitions, and $10.7bn from market performance.

Revenue excluding performance fees rose by 27%, benefiting from a 24% increase in average FUM, explains the broker. International FUM now represents 29% of the total, and private market strategies account for 18%.

Macquarie highlights Pinnacle’s strong organic growth outlook and potential for accretive M&A as key drivers of long-term upside. Outperform. Target rises to $27.37 from $26.70.

FORECAST
Macquarie forecasts a full year FY25 dividend of 58.90 cents and EPS of 62.50 cents.
Macquarie forecasts a full year FY26 dividend of 60.10 cents and EPS of 72.20 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

Wilsons

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Jarden

06/02/2025

3

Neutral

$24.20

33.11%

Pinnacle Investment's 1H25 result was well ahead of Jarden and consensus EPS forecasts, but the broker believes the main components contributing to the beat were somewhat lacking in quality.

This included the majority of materially stronger performance coming from one affiliate and fair value gains on assets.

On the positive side, the broker notes costs within the affiliates were managed well and stronger December quarter flows revealed some Australian institutional inflows and initial inflows into the Life Cycle.

The broker has upgraded FY25 EPS estimates by 15.8% and FY26 by 2.2%, leading to a rise in target price to $24.2.

Neutral rating remains.

FORECAST
Jarden forecasts a full year FY25 dividend of 47.90 cents and EPS of 63.60 cents.
Jarden forecasts a full year FY26 dividend of 59.40 cents and EPS of 67.10 cents.
Access Extra Coverage Research History >

PNI STOCK CHART

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