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: 16.74
Index: ASX200 | ASX300 | ALL-ORDS

Pinnacle Investment Management Group takes equity interests in specialist investment managers and provides distribution, infrastructure and business support.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$13.18

25 Sep
2026

-0.360

OPEN

$13.54

-2.66%

HIGH

$13.54

1,323,282

LOW

$12.92

TARGET
$22.323 69.4% upside
Franking for last dividend paid out: 65%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . BVS . CGF . DJW . GDG . GQG . HMC . HUB . IFT . IRE . KAM . KSL . L1G . MAF . MFG . MQG . NGI . NWL . PAC . PPS . PPT . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
PNI: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 78.7 86.9 xxx
DPS (cps) xxx 60.0 76.5 xxx
EPS Growth xxx 24.5% 10.4% xxx
DPS Growth xxx 0.0% 27.5% xxx
PE Ratio xxx N/A 14.7 xxx
Dividend Yield xxx N/A 6.0% xxx
Div Pay Ratio(%) xxx 76.3% 88.1% xxx

Dividend yield today if purchased 3 years ago: 6.76%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.70

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: 31/08 - ex-div 31.00c (franking 65%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic 38.240.239.445.863.278.7
DPS All 28.735.036.042.060.060.0
Sales/Revenue 32.4 M42.1 M54.2 M56.6 M77.8 M95.2 M
Book Value Per Share 146.6214.8224.7235.8428.5512.9
Net Operating Cash Flow 53.4 M71.8 M58.8 M76.7 M124.3 M107.6 M
Net Profit Margin 206.71 %181.29 %141.07 %159.57 %172.77 %185.57 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed 30.99 %23.64 %18.54 %20.57 %19.56 %17.04 %
Return on Invested Capital 23.67 %17.60 %14.63 %16.64 %16.91 %14.44 %
Return on Assets 22.09 %16.91 %14.04 %15.91 %16.35 %13.87 %
Return on Equity 30.99 %23.64 %18.54 %20.57 %19.56 %17.04 %
Return on Total Capital 0.46 %1.13 %2.85 %1.25 %2.77 %1.05 %
Free Cash Flow ex dividends 16.5 M5.9 M-4.3 M5.7 M-1.5 M-15.0 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 1 M1 M20 M2 M2 M4 M
Long Term Debt 102 M120 M100 M108 M108 M266 M
Total Debt 103 M122 M120 M109 M110 M270 M
Goodwill - Gross -----459 M
Cash & Equivalents - Generic 96 M38 M28 M33 M27 M89 M
Price To Book Value 8.163.274.446.014.793.34

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex 0.1 M2.0 M0.0 M0.0 M0.3 M5.8 M
Capex % of Sales 0.17 %4.78 %0.02 %0.06 %0.42 %6.11 %
Cost of Goods Sold 2 M2 M2 M1 M2 M3 M
Selling, General & Admin. Exp & Other 29 M35 M37 M48 M53 M79 M
Research & Development ------
Investments - Total 59 M143 M163 M154 M437 M280 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

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

05/08/2026

3

Neutral

$18.00

36.57%

Pinnacle Investment Management announced a "messy" FY26 result, according to UBS.

The analyst points out June FUM and 4Q net flows were better than expected, providing a positive outlook for FY27.

However, realised profits over 2H26 were a considerable miss, with FY26 net profit after tax of $63m, some -22% below consensus and -25% below the broker's expectations.

The parent company also recorded higher operating costs, while growth appears to be concentrated in affiliates where Pinnacle has lower ownership stakes.

On the positive side, Pacific Asset Management reported 20% h/h growth in AUM, while Lifecycle grew 42% and Metrics increased 10%.

Pinnacle continues to trade at around a -24% discount to its five-year historical average. UBS has retained its Neutral rating and $18.00 target price.

FORECAST
UBS forecasts a full year FY27 dividend of 78.00 cents and EPS of 86.00 cents.
UBS forecasts a full year FY28 dividend of 91.00 cents and EPS of 101.00 cents.

Morgans

xx/xx/xxxx

1

xxx

$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%

Broker commentary and detailed analysis is available for Full Members Only.
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Canaccord Genuity

06/08/2026

1

Buy

$24.53

86.12%

Canaccord Genuity maintains a Buy rating for Pinnacle Investment Management with a $24.53 target price following strong FY26 results where funds under management grew 28% to $229.4bn.

Underlying net profit reached $138m, coming in 4% ahead of the broker's estimates on the back of higher net performance fees and $136m in affiliate profit contributions.

Subsequent growth driver Pacific Asset Management expanded its footprint through the acquisition of Asset Value Investors for GBP40m ($77m), adding $3.7bn across global and Japanese value strategies.

Strong profit acceleration across key affiliate Metrics Credit Partners is expected to help unwind the stock's recent valuation discount, cementing its position as the largest individual affiliate profit contributor.

Upgrading full-year funds under management forecasts by 2%, the analyst considers full-year ownership contributions from Pacific Asset Management and fee margin expansion primary catalysts for ongoing earnings momentum into FY27.
Access Extra Coverage Research History >

PNI STOCK CHART

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