Netwealth Group (NWL)
NWL $18.05
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Performance
Share price activity
- Last (Price)
- 18.05
- Change
- ▲ 0.05 (0.28)
- Bid / Ask
- 18.01 - 18.05
- Volume
- 735,343
- Turnover
- 4,744,440
- Open
- 18.37
- Day Range
- 17.90 - 18.42
- VWAP
- 18.05
- Prev Close
- 18.00
- Last Trade
- 30/10 4:10pm
Key information
- Sector
- Technology
- Shares Issued
- 245,789,448
- NTA/Share
- 0.52
- Last Dividend
- 0.21
- Dividend Ex Date
- 9 SEP 2026
- Dividend Pay Date
- 29 SEP 2026
Current (AUD) · FY2026
- Revenue
- 391.13
- EBITDA
- 192.93
- Profit
- 60.65
- Earnings Per Share (EPS)
- 0.25
- Dividend Per Share (DPS)
- 0.42
- Yield %
- 2.33
- Market Cap
- 4,436.50
- Price to Earnings Ratio (P/E)
- 73.08
Estimates (AUD) · FY2027
- Revenue
- 438.10
- EBITDA
- 198.95
- Profit
- 137.04
- Earnings Per Share (EPS)
- 0.56
- Dividend Per Share (DPS)
- 0.45
Quantitative rating
Overvalued
- Economic Moat
- None
- Financial Health
- Moderate
- Uncertainty
- High
Morningstar Quantitative Rating as of 29 OCT 2026.
Quantitative Equity Rating Methodology – view here
Fair value estimate
Five-star price 13.28 Fair value 16.87 One-star price 21.43
Morningstar Quantitative Rating as of 29 OCT 2026.
Quantitative valuation
- Fair Value
- 16.87
- Price / Fair Value
- 1.07
- Valuation
- Overvalued
- Uncertainty
- High
Morningstar Quantitative Rating as of 29 OCT 2026. The slider runs from the five-star price (13.28) to the one-star price (21.43).
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 18.05 |
| Price - 12 month high | 31.25 |
| Price - 12 month low | 14.57 |
| Pricing date | 29 OCT 2026 |
| Volume - avg. trading volume for the last ten days | 0.84 |
| Market capitalization | 4,436.50 |
| 12 Month High price date | 31 OCT 2025 |
| 12 Month Low price date | 15 OCT 2026 |
| Volume - avg. trading volume for the last 3 months | 0.70 |
| Price - 1 Day % Change | 0.28% |
| Price - 13 week price percent change | -17.35% |
| Price - 26 week price percent change | -23.61% |
| Price - 5 Day % Change | 6.11% |
| Price - 52 week price percent change | -42.33% |
| Price - YTD price percent change | -29.68% |
| Price % Change Month To Date | 5.13% |
| EPS excluding extraordinary items - most recent fiscal year | 0.247 |
| EPS excluding extraordinary items - trailing 12 month | 0.247 |
| EPS Normalized - most recent fiscal year | 0.552 |
| Revenue/share - most recent fiscal year | 1.594 |
| Revenue/share - trailing 12 month | 1.594 |
| Book value per share - most recent fiscal year | 0.660 |
| Book value per share - most recent half-year | 0.660 |
| Book value (tangible) per share - most recent fiscal year | 0.525 |
| Book value (tangible) per share - most recent half-year | 0.525 |
| Cash per share - most recent fiscal year | 0.609 |
| Cash per share - most recent half-year | 0.609 |
| Cash Flow per share - most recent fiscal year | 0.237 |
| Cash Flow per share - trailing 12 month | 0.237 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.420 |
| EBITD per share - trailing 12 month | — |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.247 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.247 |
| EPS including extraordinary items - most recent fiscal year | 0.247 |
| EPS including extraordinary items - trailing 12 month | 0.247 |
| Free Cash Flow per share - trailing 12 month | 0.230 |
| P/E excluding extraordinary items, most recent fiscal year | 73.08 |
| P/E Normalized, most recent fiscal year | 32.69 |
| Price to sales - most recent fiscal year | 11.32 |
| Price to Tangible Book - most fiscal year | 34.38 |
| Price to Free Cash Flow per Share - most recent fiscal year | 78.58 |
| Price to Cash Flow per share - trailing 12 month | 76.25 |
| Price to Book - most recent fiscal year | 27.36 |
| P/E excluding extraordinary items high, trailing 12 months | 116.36 |
| P/E excluding extraordinary items low, trailing 12 months | 44.99 |
| Net Debt, LFI | -148.73 |
| Net Debt, LFY | -79.56 |
| Dividend Yield - 5 Year Average | 1.36% |
| Dividend Yield - indicated annual dividend divided by closing price | 2.34% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 2.33% |
| Free Cash Flow - most recent fiscal year | 56.35 |
| LT debt/equity - most recent fiscal year | — |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 43.14% |
| LT debt/equity - most recent half-year | — |
| Total debt/total equity - most recent half-year | 6.98% |
| Free Cash Flow - trailing 12 month | 56.35 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 391.13 |
| Revenue - trailing 12 month | 391.13 |
| EBITD - most recent fiscal year | — |
| EBITD - trailing 12 month | — |
| Earnings before taxes - most recent fiscal year | 77.46 |
| Earnings before taxes - trailing 12 month | 77.46 |
| Net Income available to common - most recent fiscal year | 60.65 |
| Net Income available to common - trailing 12 months | 60.65 |
| Earnings before taxes Normalized - most recent fiscal year | 77.46 |
| Net Income Available to Common, Normalized - most recent fiscal year | 135.44 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.55 |
| Net Profit Margin % - 1st historical fiscal year | 15.51% |
| Net Profit Margin % - trailing 12 month | 15.51% |
| Operating margin - 1st historical fiscal year | — |
| Operating margin - trailing 12 month | — |
| Pretax margin - trailing 12 month | 19.80% |
| Pretax margin - 1st historical fiscal year | 19.80% |
| Operating Margin - 5 year average | — |
| Pretax Margin - 5 year average | 41.48% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 33.17% |
| Free Operating Cash Flow/Revenue, TTM | 14.41% |
| Net Profit Margin - 5 year average | 29.48% |
| Return on average assets - most recent fiscal year | 21.66% |
| Return on average assets - trailing 12 month | 21.66% |
| Return on average equity - most recent fiscal year | 35.64% |
| Return on average equity - trailing 12 month | 35.64% |
| Return on average assets - 5 year average | 41.08% |
| Return on average equity - 5 year average | 55.54% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | 21.97% |
| EPS growth rate, 5 year | 1.84% |
| Growth rate% - dividend, 3 year | 25.99% |
| Revenue/share (5 yr growth) | 21.44% |
| Growth rate% - Revenue, 3 year | 22.12% |
| Growth rate% - EPS, 3 year | -3.52% |
| Book value per share growth rate, 5 year | 11.54% |
| Capital Spending growth rate, 5 year | 24.09% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | 2029 | |||||
| Estimate breakdown | ||||||||
Financials (AUD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Opinion
Netwealth Group Ltd (NWL) $22.15
Netwealth, trading 7.7% higher yesterday, is a leading investment platform for financial advisers, a different business to both MFG and PPT but it enjoyed the buying across the sector yesterday which also saw HUB24 (+5.4%) enjoy a good day at the office.
Netwealth (NWL) $25.35
NWL +13.58%: Netwealth reported a statutory loss for the half, driven by the impact of First Guardian-related expenses, though underlying platform momentum remained strong. Revenue growth and FUA expansion were solid, and management reiterated FY26 flow and margin guidance.
Netwealth (NWL) $30.87
NWL +0.75%: Delivered another decent quarterly update with solid flows and accounts opened in the period.
Netwealth Group Ltd (NWL) $33.59
After an aggressive 38% pullback during the volatile April period, investment platform provider NWL has demonstrated itself to be a high-beta top performer in the sector, advancing 17% year-to-date.
Netwealth Group (NWL) $26.36
NWL +16.59%: Released a solid quarterly update this morning on a day where high-beta technology stocks were already due to outperform. Funds under administration inflows took a slight dip but maintained positive momentum, though slightly offset by mention of higher FY26 costs.
Netwealth (NWL) $29.90
NWL +1.67%: Ended higher though it was a volatile session with traders taking advantage of early strength following a good quarterly.
Netwealth (NWL) $20.70
NWL -5.57%: shares were lower on slightly weaker than expected FY24 earnings, though FY25 has started well by the look, and indications around flows look positive.
Netwealth Group (NWL) $21.00
NWL -4.15%: Reported net inflows for the fourth quarter of $3.8 bn, taking FY net Funds Under Administration (FUA) flows of +$11.2 bn, with FUA at period end of $88.0bn up from $70.27bn at the end of FY23. These are great numbers, however a few flags to highlight on NWL (and HUB for that matter).
Netwealth Group Ltd (NWL) $19.66
NWL is up over +28% so far in 2024, a very impressive advance for one of the fastest-growing wealth management businesses in Australia - NWL operates the largest of the speciality platform providers in Australia. However, neither MM nor the market was keen on NWL’s March Quarter update, which, despite strong Funds Under Administration (FUA) growth, saw the stock sell-off aggressively due to fears about their underlying metrics, such as margins and associated leverage.
Action
MM remains neutral on NWL ~$15.50
MM is neutral towards NWL around $22
MM is bullish toward NWL ~$31
MM is cautiously bullish on NWL above $33
MM remains bullish NWL
MM remains neutral NWL, given current sky-high valuation
MM is neutral on NWL
MM is neutral NWL ~$21
MM is bearish NWL around $20
MM is now bearish NWL
Business Summary
Netwealth provides cloud-based investment administration software as a service in Australia via its proprietary platform. Netwealth's platform provides portfolio administration, investment management tools, and investment and managed account services to financial intermediaries and directly to clients. The company charges SaaS fees based on funds under administration and management on its platform. Netwealth also offers Netwealth-branded investment products on its platform, which are managed by third-party investment managers.
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