PLATINUM ASSET MANAGEMENT LIMITED (PTM)
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PTM - PLATINUM ASSET MANAGEMENT LIMITED

FNArena Sector : Wealth Management & Investments

Year End: June

GICS Industry Group : Diversified Financials

Debt/EBITDA: 0.16

Index: ASX300 | ALL-ORDS

Platinum Asset Management is an Australian fund manager focussing on international equity investments. It has been listed since 2007. Founder Kerr Neilson, sometimes referred to as the Australian Warren Buffett, officially left the business in August 2020.

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$0.555 17 Apr 2025	0.005 OPEN $0.55	0.91% HIGH $0.56	1,272,988 LOW $0.55

TARGET

$0.54

-2.7% downside

Franking for last dividend paid out: 100%

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FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	8.0	6.4	xxx
DPS (cps)	xxx	10.0	23.7	xxx
EPS Growth	xxx	- 43.6%	- 20.1%	xxx
DPS Growth	xxx	- 28.6%	100.0%	xxx
PE Ratio	xxx	N/A	8.7	xxx
Dividend Yield	xxx	N/A	42.7%	xxx
Div Pay Ratio(%)	xxx	125.8%	373.2%	xxx

Dividend yield today if purchased 3 years ago: 5.24%

DIVIDEND YIELD CALCULATOR

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: 12/12 - ex-div 20c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	8.0
DPS All	xxx	xxx	xxx	xxx	xxx	10.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	185.6 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	56.1
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	79.7 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	24.25 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	14.01 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	13.76 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	12.81 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	14.01 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	22.41 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	4.3 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	2 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	11 M
Total Debt	xxx	xxx	xxx	xxx	xxx	12 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	250 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	1.85

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	1.6 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	0.86 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	9 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	102 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	33 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

-0.5

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
UBS	xx/xx/xxxx	5	xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Bell Potter	09/04/2025	3	Hold	$0.58	4.50%	Platinum Asset Management announced a decline in funds under management for March compared to February, with outflows of -$302m or 2.8% of the month’s opening FUM, versus the broker's forecast of 1.3% or -$137m. The broker lowers EPS forecasts by -3.3% for FY25 and -12.9% for FY26, while highlighting positive cost control and new product launches. Target price slips to 58c from 70c, with no change to the Hold rating. Bell Potter states the shares are very cheap, with cash on the balance sheet compared to a market capitalisation of $326m. FORECAST Bell Potter forecasts a full year FY25 dividend of 23.00 cents and EPS of 7.00 cents. Bell Potter forecasts a full year FY26 dividend of 2.50 cents and EPS of 5.10 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

UBS

xx/xx/xxxx

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Bell Potter

09/04/2025

Hold

$0.58

4.50%

Platinum Asset Management announced a decline in funds under management for March compared to February, with outflows of -$302m or 2.8% of the month’s opening FUM, versus the broker's forecast of 1.3% or -$137m.

The broker lowers EPS forecasts by -3.3% for FY25 and -12.9% for FY26, while highlighting positive cost control and new product launches.

Target price slips to 58c from 70c, with no change to the Hold rating. Bell Potter states the shares are very cheap, with cash on the balance sheet compared to a market capitalisation of $326m.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 23.00 cents and EPS of 7.00 cents.
Bell Potter forecasts a full year FY26 dividend of 2.50 cents and EPS of 5.10 cents.

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EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

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
Goldman Sachs	xx/xx/xxxx	5	xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Jarden	10/04/2025	3	Neutral	$0.54	-2.70%	Platinum Asset Management saw -$302m net outflow in the March quarter, worse than Jarden's estimate of -$224m. Total funds under management declined to $10.28bn vs the broker's forecast of $10.41bn. The broker expects net outflows to remain elevated in the coming six months given the change in portfolio manager in early March. But there are positives too, including good progress in cost-out plans and the company retaining management rights for LICs, Platinum Capital ((PMC)) and Platinum Asia Investments ((PAI)). The analyst cut FY25 EPS forecast by -2% and FY26 by -9.8%. Neutral. Target drops to 54c from 59c. FORECAST Jarden forecasts a full year FY25 dividend of 24.40 cents and EPS of 5.60 cents. Jarden forecasts a full year FY26 dividend of 3.60 cents and EPS of 3.60 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Goldman Sachs

xx/xx/xxxx

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Jarden

10/04/2025

Neutral

$0.54

-2.70%

Platinum Asset Management saw -$302m net outflow in the March quarter, worse than Jarden's estimate of -$224m. Total funds under management declined to $10.28bn vs the broker's forecast of $10.41bn.

The broker expects net outflows to remain elevated in the coming six months given the change in portfolio manager in early March.

But there are positives too, including good progress in cost-out plans and the company retaining management rights for LICs, Platinum Capital ((PMC)) and Platinum Asia Investments ((PAI)).

The analyst cut FY25 EPS forecast by -2% and FY26 by -9.8%.

Neutral. Target drops to 54c from 59c.

FORECAST
Jarden forecasts a full year FY25 dividend of 24.40 cents and EPS of 5.60 cents.
Jarden forecasts a full year FY26 dividend of 3.60 cents and EPS of 3.60 cents.

Access Extra Coverage Research History >

PTM STOCK CHART

FNArena News on PTM

1	Australian Broker Call Extra Edition – Apr 10, 2025 Apr 10 2025 - Daily Market Reports

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Dividend Yield Today On Last Actual Payout :	18.02
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
Tell Me The Dividend After This Many Years

	Yield	Yield on investment
This Year
Year 1
Year 2
Year 3
Year 4
Year

1	Australian Broker Call Extra Edition – Apr 10, 2025 Apr 10 2025 - Daily Market Reports

2	Australian Broker Call Extra Edition – Apr 07, 2025 Apr 07 2025 - Daily Market Reports

3	Australian Broker Call Extra Edition – Mar 06, 2025 Mar 06 2025 - Daily Market Reports

4	Australian Broker Call Extra Edition – Mar 05, 2025 Mar 05 2025 - Daily Market Reports

5	Rudi’s View: February’s Reality Check Mar 05 2025 - Rudi's View

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PLATINUM ASSET MANAGEMENT LIMITED (PTM)
Share Price Analysis and Chart