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

$16.44

05 May
2025

-0.140

OPEN

$16.61

-0.84%

HIGH

$16.86

280,382

LOW

$16.44

TARGET
$19.498 18.6% 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 - 420.8 178.6 xxx
DPS (cps) xxx 118.0 122.2 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 23.9% 3.6% xxx
PE Ratio xxx N/A 9.2 xxx
Dividend Yield xxx N/A 7.4% xxx
Div Pay Ratio(%) xxx N/A 68.4% xxx

Dividend yield today if purchased 3 years ago: 3.58%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 7.12

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

0.2

No. Of Recommendations

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

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxx

$xx.xx

xx.xx%

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UBS

16/04/2025

3

Downgrade to Neutral from Buy

$18.50

12.53%

UBS notes Perpetual saw a more-than-expected decline in 3Q25 assets under management on higher-than-expected outflows and muted impact from forex/MTM impacts.

The broker reckons the planned divestment of the wealth management and, ultimately the corporate trust business is resulting in value leakage amid market-driven revenue pressures.

Balance sheet is coming under pressure with increasing revenue and cost headwinds, which will put dividend payout ratio at risk.

The broker notes Perpetual's earnings are highly sensitive with every -10% move in equities translating to a -21% decline in EPS.

Rating downgraded to Neutral from Buy. Target price cut to $18.50 in two steps, first to $19 from $23 on market sensitivity.

FORECAST
UBS forecasts a full year FY25 dividend of 106.00 cents and EPS of 178.00 cents.
UBS forecasts a full year FY26 dividend of 67.00 cents and EPS of 134.00 cents.

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$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

22/04/2025

2

Overweight

$22.25

35.34%

Jarden notes the March quarter update from Perpetual, where funds under management were below the broker's estimate by -0.5% due to softer net inflows, which were slightly offset by fund performance.

Net outflows were worse than anticipated at -$8.9bn, including the loss of a -$2.5bn short-dated cash mandate and net outflows of -$6.1bn in American equities.

Corporate Trust funds under administration came in line with Jarden's expectations, as did Wealth Management.

Overweight. Target cut to $22.25 from $22.75. The broker lowers FY25 EPS by -0.6% and FY26 by -5.5%.

FORECAST
Jarden forecasts a full year FY25 dividend of 110.80 cents and EPS of 159.00 cents.
Jarden forecasts a full year FY26 dividend of 113.70 cents and EPS of 150.20 cents.
Access Extra Coverage Research History >

PPT STOCK CHART

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