PERPETUAL LIMITED (PPT)
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PPT

PPT - PERPETUAL LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 2.96
Index: ASX200 | ASX300 | ALL-ORDS

Perpetual is an Australian investment and trustee company providing investment products, superannuation financial advice and corporate services. The Perpetual Trustee Co was founded in 1886 and became a listed entity in 1964. Its core approach is based on 'value' investing.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$17.44

14 Apr
2025

0.210

OPEN

$17.36

1.22%

HIGH

$17.50

190,671

LOW

$17.14

TARGET
$22.968 31.7% upside
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 . PNI . PPS . PTM . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
PPT: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 420.8 183.8 xxx
DPS (cps) xxx 118.0 128.3 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 23.9% 8.7% xxx
PE Ratio xxx N/A 9.4 xxx
Dividend Yield xxx N/A 7.5% xxx
Div Pay Ratio(%) xxx N/A 69.8% xxx

Dividend yield today if purchased 3 years ago: 3.70%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.86

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: 12/09 - ex-div 53c (franking 50%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-420.8
DPS All xxxxxxxxxxxxxxx118.0
Sales/Revenue xxxxxxxxxxxxxxx1,333.9 M
Book Value Per Share xxxxxxxxxxxxxxx1,583.0
Net Operating Cash Flow xxxxxxxxxxxxxxx296.4 M
Net Profit Margin xxxxxxxxxxxxxxx-35.40 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-22.96 %
Return on Invested Capital xxxxxxxxxxxxxxx-18.68 %
Return on Assets xxxxxxxxxxxxxxx-12.86 %
Return on Equity xxxxxxxxxxxxxxx-22.96 %
Return on Total Capital xxxxxxxxxxxxxxx5.65 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx122.8 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 xxxxxxxxxxxxxxx698 M
Long Term Debt xxxxxxxxxxxxxxx136 M
Total Debt xxxxxxxxxxxxxxx834 M
Goodwill - Gross xxxxxxxxxxxxxxx1,521 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx381 M
Price To Book Value xxxxxxxxxxxxxxx1.35

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx31.8 M
Capex % of Sales xxxxxxxxxxxxxxx2.38 %
Cost of Goods Sold xxxxxxxxxxxxxxx196 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx975 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx382 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

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

07/03/2025

3

Neutral

$19.74

13.19%

Perpetual's 1H25 net profit after tax was ahead of Macquarie's forecast, rising 2% year-on-year.

Annualised cost savings have been increased to -$70m to -$80m by FY27, the broker highlights.

Cash flow for 1H25 was negative due to separation activities, while net debt rose 23% to $569m. Management aims to reduce debt by -$750m-$770m by the end of FY25.

Macquarie lifts EPS forecasts by 9.9% for FY25 and 2.8% for FY26.

No change to the Neutral rating. Target price falls -6% to $19.74 from $21.05 due to valuation changes in Perpetual Corporate Trust and Perpetual Private.

FORECAST
Macquarie forecasts a full year FY25 dividend of 115.00 cents and EPS of 178.00 cents.
Macquarie forecasts a full year FY26 dividend of 120.00 cents and EPS of 185.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Bell Potter

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

1

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

03/04/2025

2

Overweight

$22.75

30.45%

Jarden marked-to-market asset manager stocks for the quarter ended March 31, which mostly resulted in a downgrade to FY25 and FY26 EPS estimates.

The cuts reflect a fall in domestic and global equities, and in some cases, the stronger AUD/USD was also a headwind. The broker notes credit spreads were stable in Australia, but in the US, non-investment grade spreads widened due to increased default risk and a risk-off environment.

The broker's downgrade of -12% to FY26 EPS forecasts reflects Perpetual's elevated cost-to-income ratio of 72%.

Overweight. Target cut to $22.75 from $25.30.

FORECAST
Jarden forecasts a full year FY25 dividend of 111.50 cents and EPS of 160.00 cents.
Jarden forecasts a full year FY26 dividend of 119.90 cents and EPS of 158.40 cents.
Access Extra Coverage Research History >

PPT STOCK CHART

FNArena News on PPT

1
Australian Broker Call *Extra* Edition – Apr 07, 2025

Apr 07 2025 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 04-04-25

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Next Week At A Glance – 7-11 Apr 2025

Apr 04 2025 - Weekly Reports
4
Next Week At A Glance – 17-21 Mar 2025

Mar 14 2025 - Weekly Reports
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Australian Broker Call *Extra* Edition – Mar 06, 2025

Mar 06 2025 - Daily Market Reports

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