16/02/2022 17:23

Netwealth (NWL) $13.40

NWL -9.76%: shares in the independent platform were smashed today following a soft first half. While fund flows remain robust and revenue follows, margins have been crunched by increasing costs for each of the players in the space. Operating expenses (excluding share based payments) were up around 30% on 1H21 and NPAT margins fell from 38.2% to 32.4% with earnings falling...

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17/12/2021 09:26

Netwealth Group Ltd (NWL) $17.14

NWL has been an excellent performing fintech since COVID although its traded largely sideways for the last 12-months. The platform provider launched a takeover for Praemium Ltd (PPS) last month which we believe will offer solid synergy for NWL but there’s more water to go under the bridge here with the PPS board believing the bid undervalues...

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19/08/2021 09:35

Netwealth (NWL) $14.24

Investment fintech services business NWL fell almost 5% yesterday after delivering its FY21 earnings which showed strong growth in all key metrics, although the market had decent expectations built in. To put things in perspective, NWL is now the 6th largest platform provider in Australia, ahead of both HUB 24 (HUB) and Praemium (PPS) which...

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18/08/2021 09:22

Reporting Today (BHP, BXB, COL, DMP, DHG, ABP, BAP, CTD, NWL, OZL, SUL)

A huge session on the reporting front today we’ll work through results throughout the day. Companies reporting today on MM’s radar include: BHP Billiton (BHP): Reported FY21 results overnight that were largely inline, however a lot of moving parts as we discuss below. Brambles (BXB): Reported yesterday afternoon and the earnings were inline with expectations. Underlying profit was $879.3. which was up 10% y/y and a whisker ahead of the $877m expected

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06/08/2021 09:33

Netwealth Group (NWL)

NWL has been consolidating recent gains over the last 7-weeks, the financial services business has generally benefited from good inflows and overall strong conditions across equity / investment markets – much like HUB. Impressively the fintech business has enjoyed more than an exciting 100% increase in inflows over the last year...

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28/05/2021 09:27

Netwealth Group (NWL) $14.31

Investment platform provider NWL has struggled through 2021 after their interest margins on deposits took a hit which worried investors that it could ultimately impact funds under administration (FUA).

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25/03/2021 15:49

Netwealth (NWL) $13.62

Platforms were in the firing line today after ANZ gave Netwealth notice of their deposit agreement. the arrangement saw NWL receive 95bps over the cash rate for cash holdings on client funds on their platform, of which NWL would take a clip before passing on the remainder.

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25/02/2021 09:12

Netwealth Group (NWL) $14.48

NWL grew FUA by over 20% to almost $39bn and total income of $72.4mn which dropped down to an almost 35% increase in net profit after tax (NPAT) of $27.6mn.

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22/01/2021 07:47

Netwealth (NWL) $17.73

Netwealth (NWL) +11.72%: the independent platform names continue to see inflows above the market rate, this time Netwealth reported better than expected numbers for their Dec Quarter with FUA up 14%. The $4.8b was split reasonably evenly between a positive market move ($2.2b) and net additions ($2.6b) to see total FUA to $38.8b. They also upped their expectations for FUA flows as the industry continues to consolidate, now looking for over $8.5b of net flows for FY21, around 20% growth on current numbers.

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