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Contango Asset Management Ltd.
(Sydney:APL)
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Rating:51Neutral
Price Target:
AU$0.30
â–²(16.15% Upside)
Action:Reiterated
Date:09/23/26
The score is held back primarily by weak financial performance (ongoing losses and a steep 2026 revenue decline), partially offset by a relatively solid, low-leverage balance sheet and recently positive—though volatile—cash flows. Technicals are supportive due to the stock trading above key moving averages, but the very overbought RSI increases near-term risk. Valuation is a drag due to the negative P/E and lack of dividend yield data.
Positive Factors
Conservative Balance Sheet
Low debt-to-equity and stable assets provide a meaningful equity cushion. This conservative structure reduces balance-sheet strain and preserves flexibility to sustain investment-management operations while the company works to restore profitability over the next several quarters.
Negative Factors
Severe Revenue Decline
The sharp 2026 revenue contraction represents a significant setback to the company’s recurring fee-generating base. Sustained lower revenue would reduce the ability to absorb operating costs, weaken scale benefits, and make a durable recovery in earnings more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Low debt-to-equity and stable assets provide a meaningful equity cushion. This conservative structure reduces balance-sheet strain and preserves flexibility to sustain investment-management operations while the company works to restore profitability over the next several quarters.
Read all positive factors
Contango Asset Management Ltd. (APL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$17.81M
Dividend Yield6.32%
Average Volume (3M)6.39K
Price to Earnings (P/E)―
Beta (1Y)-0.71
Revenue Growth0.92%
EPS Growth-293.33%
CountryAU
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management - Global
Share Statistics
EPS (TTM)-0.01
Shares Outstanding59,364,426
10 Day Avg. Volume14,387
30 Day Avg. Volume6,389
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)1.82
Price to Sales (P/S)1.84
P/FCF Ratio21.51
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Contango Asset Management Ltd. Business Overview & Revenue Model
Company Description
Associate Global Partners Limited is a publicly listed investment management firm. It offers a range of investment strategies to its institutional clientele, encompassing large, mid, small, and micro-cap equities, alongside income-focused mandates...
How the Company Makes Money
Contango Asset Management Ltd. primarily makes money by charging fees for managing investment capital. Typical revenue streams for an asset manager include (i) management fees calculated as a percentage of funds under management (FUM) and charged ...
Contango Asset Management Ltd. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
66
Positive
Cash Flow
55
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.15M | 6.66M | 6.03M | 5.66M | 6.21M |
| Gross Profit | 6.36M | 6.50M | 5.08M | 3.85M | 4.32M |
| EBITDA | 68.00K | -42.00K | -421.00K | -1.75M | -425.00K |
| Net Income | -681.00K | -171.00K | -798.00K | -1.99M | -642.00K |
Balance Sheet | |||||
| Total Assets | 12.84M | 12.58M | 12.71M | 13.09M | 13.21M |
| Cash, Cash Equivalents and Short-Term Investments | 3.71M | 4.84M | 4.18M | 4.05M | 6.59M |
| Total Debt | 2.03M | 1.93M | 1.74M | 1.95M | 1.62M |
| Total Liabilities | 5.60M | 4.92M | 4.99M | 6.01M | 4.31M |
| Stockholders Equity | 7.23M | 7.67M | 7.72M | 7.08M | 8.90M |
Cash Flow | |||||
| Free Cash Flow | 612.00K | 882.00K | -495.00K | -2.17M | -833.00K |
| Operating Cash Flow | 650.00K | 885.00K | -489.00K | -2.16M | -824.00K |
| Investing Cash Flow | -1.06M | -226.00K | -607.00K | -307.00K | 1.82M |
| Financing Cash Flow | -723.00K | 0.00 | 1.23M | -71.00K | 76.00K |
Contango Asset Management Ltd. Technical Analysis
Positive
0.26
Price Trends
0.27
Positive
0.27
Positive
0.25
Positive
Market Momentum
<0.01
Negative
86.49
Negative
83.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:APL, the sentiment is Positive. The current price of 0.26 is below the 20-day moving average (MA) of 0.26, below the 50-day MA of 0.27, and above the 200-day MA of 0.25, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 86.49 is Negative, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:APL.
Contango Asset Management Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$46.57M | 8.24 | 22.72% | 9.17% | -11.68% | -19.96% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | AU$1.45B | 42.98 | 2.41% | 1.89% | 2.27% | -84.63% | |
58 Neutral | AU$48.77M | -6.33 | -9.58% | 6.84% | -42.55% | -396.54% | |
51 Neutral | AU$17.81M | -26.55 | -9.09% | 6.32% | 0.92% | -293.33% | |
45 Neutral | AU$24.66M | 28.28 | 3.35% | 2.85% | -50.69% | 47.76% | |
41 Neutral | AU$13.96M | -3.85 | -382.28% | ― | 6.13% | 58.51% |
* Financial Sector Average
AU:APL
Contango Asset Management Ltd.
0.30
0.16
122.22%
AU:NGI
Navigator Global Investments Ltd
2.30
0.15
6.88%
AU:IAM
Income Asset Management Group Limited
0.02
-0.03
-62.50%
AU:CIW
Clime Investment Management Ltd
0.28
-0.12
-29.29%
AU:MAM
Microequities Asset Management Group Ltd.
0.36
-0.17
-31.43%
AU:SB2
Salter Brothers Emerging Companies Ltd.
0.59
-0.09
-13.72%
Contango Asset Management Ltd. Corporate Events
Associate Global Partners Director Updates Indirect Fund Holdings via DRP
Sep 23, 2026
Associate Global Partners Limited has reported a minor change in the indirect interests of director Brett Peter Cairns in one of its managed listed funds. The adjustment relates to units held in the Muzinich BDC Income Fund – Active ETF, whi...
Associate Global Partners Director Increases ETF Holdings via Dividend Reinvestment
Sep 23, 2026
Associate Global Partners Limited reported a minor change in director Jason Craig Billings’ indirect holdings, reflecting additional units in the Muzinich BDC Income Fund – Active ETF held via Jasbaat Super Pty Ltd. The adjustment aros...
Associate Global Partners Sets Date for 2026 AGM and Director Nomination Deadline
Sep 11, 2026
Associate Global Partners Limited has scheduled its 2026 Annual General Meeting of shareholders for 19 November 2026 in line with ASX Listing Rule requirements. The company will circulate the formal Notice of Meeting and further AGM details to sha...
Associate Global Partners Director Brett Cairns Lifts Indirect Shareholding
Sep 8, 2026
Associate Global Partners Limited has disclosed a change in the indirect shareholding of director Brett Peter Cairns, reflecting a modest increase in his stake in the company. The additional fully paid ordinary shares were acquired via an on-marke...
Associate Global Partners Director Receives Loyalty Bonus Units in Active ETF
Sep 4, 2026
Associate Global Partners Limited, an Australian asset manager, offers listed active exchange-traded funds such as the WCM Quality Global Growth Fund and the Muzinich BDC Income Fund through its subsidiaries as responsible entities. The firm focus...
Associate Global Partners Updates Director’s ETF Holdings via Loyalty Bonus
Sep 4, 2026
Associate Global Partners Limited has disclosed a change in director Jason Craig Billings’ indirect interests, reflecting an increase in units held in the WCM Quality Global Growth Fund-Active ETF through his self-managed superannuation stru...
Associate Global Partners Issues Over 1.1 Million Unquoted Performance Rights
Aug 26, 2026
Associate Global Partners Limited has notified the market of the issue of 1,104,000 unquoted performance rights, recorded under the ASX security code APLAA. The securities were issued on 26 August 2026 and are not intended to be quoted on the ASX....
AGP Details FY2026 Performance and Strategic Priorities in Investor Presentation
Aug 26, 2026
Associate Global Partners Limited, listed on the ASX as APL, is an investment management firm that collaborates with specialist manager partners. It offers investors access to diversified managed strategies, supported by ongoing financial disclosu...
Associate Global Partners lodges updated ASX governance statement and Appendix 4G
Aug 26, 2026
Associate Global Partners Limited has released its updated corporate governance statement for the financial year ended 30 June 2026, confirming that the document is current as of 26 August 2026 and available on its website. The company states that...
Associate Global Partners to Issue 1.1 Million Performance Rights
Aug 25, 2026
Associate Global Partners Limited, listed on the ASX under the code APL, operates in the asset management and investment services industry. The company structures and manages listed investment products, including performance-linked securities, aim...
Associate Global Partners Director Increases Units via Dividend Reinvestment
Aug 21, 2026
Associate Global Partners Limited has disclosed a minor change in the indirect holdings of director Brett Peter Cairns in one of the listed funds managed by its subsidiary. Cairns, who holds substantial fully paid ordinary shares in the company th...
Associate Global Partners Director Increases Holding via ETF Dividend Reinvestment
Aug 21, 2026
Associate Global Partners Limited has reported a change in director Jason Craig Billings’ indirect holdings, which are held through Jasbaat Super Pty Ltd, where he is a director and shareholder. His interests span fully paid ordinary shares ...
Associate Global Partners Director Increases Stake via Dividend Reinvestment
Jul 23, 2026
Associate Global Partners Limited reported a change in the indirect interests of director Nerida Campbell, reflecting adjustments in her holdings tied to the WCM Quality Global Growth Fund – Active ETF. Campbell, through Oliver Road Investme...
Associate Global Partners Director Increases Indirect ETF Holdings via DRP
Jul 23, 2026
Associate Global Partners Limited has disclosed a change in the indirect holdings of director Jason Craig Billings, reflecting movements in units held via Jasbaat Super Pty Ltd as trustee for Jasbaat Super A/C. The update concerns his interests in...
Associate Global Partners Director Increases ETF Holdings via DRP
Jul 23, 2026
Associate Global Partners Limited reported a change in the indirect interests of director Brett Peter Cairns in units of listed funds managed by the company’s subsidiary. The change relates to additional units in the WCM Quality Global Growt...
Associate Global Partners Updates Director Martin Switzer’s Investment Holdings
Jul 8, 2026
Associate Global Partners has disclosed a change in director Martin Switzer’s interests, detailing his direct and indirect holdings in company shares, performance rights, and units in listed funds managed by its subsidiary. The notice shows ...
Associate Global Partners Converts 1.82 Million Employee Performance Rights Into Shares
Jul 6, 2026
Associate Global Partners Limited has converted 1,822,000 vested employee performance rights into an equivalent number of fully paid ordinary shares, expanding its share base and crystallising staff equity incentives. The move reflects the company...
Associate Global Partners Expands Quoted Share Base on ASX
Jul 6, 2026
Associate Global Partners Limited has lodged an application with the ASX for quotation of new ordinary fully paid shares. The filing covers the issuance of 1,822,000 APL securities, dated 4 July 2026, under the exchange’s Appendix 2A rules.T...
AGP Partners with ARK to Bring Disruptive Innovation Venture Fund to Australian Investors
Jul 2, 2026
Associate Global Partners has signed a distribution agreement with U.S.-based ARK Investment Management to offer Australian wholesale investors access to the ARK Venture Fund, an actively managed portfolio focused on disruptive innovation. The mov...
Associate Global Partners Director Modestly Increases Indirect Fund Holdings
Jun 23, 2026
Associate Global Partners Limited has reported a small change in the indirect securities holdings of director Brett Peter Cairns, reflecting activity in funds managed by the company’s subsidiary. Cairns’ interests are held through vari...
Associate Global Partners director increases holding via dividend reinvestment
Jun 23, 2026
Associate Global Partners Limited has disclosed a change in the indirect holdings of director Jason Craig Billings, reflecting his interest via Jasbaat Super Pty Ltd as trustee for his superannuation account. The director’s portfolio include...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.