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Magellan Financial Group Ltd (BJY) AI Stock Analysis

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AU:BJY

Magellan Financial Group Ltd

(ASX:BJY)

Select Model
Rating:71Outperform
Price Target:AUD 8.50▲(0.35% Upside)
Action:reiterated
Date:08/28/26

The score is driven primarily by strong financial resilience (very conservative balance sheet and generally good cash conversion) despite meaningful revenue and profitability deterioration. Valuation is supported by a very high dividend yield, while technicals remain a headwind with the stock below key short- and medium-term moving averages.

Positive Factors
Conservative Balance SheetNear-zero leverage and stable equity provide substantial financial flexibility for an asset manager. This reduces solvency pressure, limits interest-related claims on earnings, and leaves the company better positioned to absorb weaker markets or invest in distribution and products.
Negative Factors
Persistent Revenue ContractionFive consecutive years of revenue decline indicate sustained pressure on the company’s asset-based fee base rather than a single weak reporting period. Continued contraction can reduce operating leverage, constrain reinvestment, and make recovery dependent on renewed client asset growth.

Magellan Financial Group Ltd (BJY) vs. iShares MSCI Australia ETF (EWA)

-20%-10%0%10%20%30%AU:BJY-4.88%EWA+12.46%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
AUD 2.33B
Dividend Yield
7.67%
Average Volume (3M)
1.15M
Price to Earnings (P/E)
15.6
Beta (1Y)
0.70
Revenue Growth
-17.31%
EPS Growth
-45.44%
Country
Australia
Employees
113
Sector
Financial
Sector Strength
68
Industry
Asset Management

Magellan Financial Group Ltd Business Overview & Revenue Model

Company Description

Magellan Financial Group Limited operates as a publicly traded investment management firm. Its core strategy involves deploying capital into global equity markets and listed infrastructure assets across the world. The company was established in 2004...

How the Company Makes Money

Magellan primarily makes money by charging fees for managing client assets. The main revenue stream is management fees, typically calculated as a percentage of funds under management (FUM/AUM) and accrued over time; as AUM rises or falls with net cli...

Magellan Financial Group Ltd Financial Statement Overview

Summary

Financial quality is supported by a very strong balance sheet (near-zero leverage and stable equity) and generally solid cash conversion (free cash flow roughly tracking net income). Offsetting this, operating performance has weakened materially, with revenue declining for five straight years and a sharp latest-year drop alongside lower net income and reduced ROE.

Income Statement

62Positive

Balance Sheet

90Very Positive

Cash Flow

75Positive
Financial statement breakdown
BreakdownTTMJun 2026Jun 2025Jun 2024Jun 2023Jun 2022
Income Statement
Total Revenue250.20M206.78M313.54M348.67M381.15M669.43M
Gross Profit222.13M178.71M313.27M275.90M332.18M639.05M
EBITDA113.55M113.55M236.18M270.83M273.99M443.75M
Net Income87.92M87.92M165.02M238.76M182.66M383.01M
Balance Sheet
Total Assets1.14B1.14B1.09B1.09B1.20B1.24B
Cash, Cash Equivalents and Short-Term Investments351.96M351.96M170.15M322.57M375.11M421.57M
Total Debt2.02M2.02M5.11M7.61M10.17M12.55M
Total Liabilities81.39M81.39M90.50M69.72M236.47M214.64M
Stockholders Equity1.06B1.06B1.00B1.02B962.50M1.03B
Cash Flow
Free Cash Flow127.78M127.78M153.07M46.93M186.47M434.37M
Operating Cash Flow127.98M127.98M153.40M47.38M186.58M434.63M
Investing Cash Flow87.18M87.18M-122.13M81.23M16.47M134.75M
Financing Cash Flow-34.30M-34.30M-185.48M-179.54M-250.61M-364.94M

Magellan Financial Group Ltd Technical Analysis

Technical Analysis SentimentNegative
Last Price8.47

Price Trends

50DMA8.44Negative
100DMA9.13Negative
200DMA9.02Negative

Market Momentum

MACD-0.21Positive
RSI46.27Neutral
STOCH47.96Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BJY, the sentiment is Negative. The current price of 8.47 is above the 20-day moving average (MA) of 8.13, above the 50-day MA of 8.44, and below the 200-day MA of 9.02, indicating a bearish trend. The MACD of -0.21 indicates Positive momentum. The RSI at 46.27 is Neutral, neither overbought nor oversold. The STOCH value of 47.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BJY.

Magellan Financial Group Ltd Peers Comparison

Overall Rating

UnderperformOutperform
Sector (68)

Financial Indicators

AU:BJY against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
AU:BJYAU:BJY71OutperformAUD 2.33B15.588.75%7.67%-17.31%-45.44%
AU:L1GAU:L1G69NeutralAUD 2.96B18.9949.77%2.54%586.06%463.96%
AU:PNIAU:PNI69NeutralAUD 3.63B19.6616.92%3.71%22.38%22.74%
Sector *68Neutral$18.00B11.429.92%3.81%9.73%1.22%
AU:PPTAU:PPT63NeutralAUD 2.01B22.275.64%6.89%-16.00%―
AU:AMPAU:AMP49NeutralAUD 5.64B28.855.08%2.35%-4.68%4.33%

* Financial Sector Average

Performance Comparison

-20%0%20%40%AU:BJYAU:AMPAU:PPTAU:L1GAU:PNIDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
AU:BJY and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
AU:BJYMagellan Financial Group Ltd8.47-0.41-4.58%
AU:AMPAMP Limited2.130.4527.01%
AU:PPTPerpetual Limited17.70-0.18-1.00%
AU:L1GPlatinum Asset Management Ltd1.180.1211.43%
AU:PNIPinnacle Investment Management Group Limited16.19-1.43-8.14%

Magellan Financial Group Ltd Corporate Events

Barrenjoey files final director interest notice as John Eales exits board

Oct 28, 2026

Former director John Eales has ceased to be a director of Barrenjoey Group Limited effective 22 October 2026, with the company lodging a final director’s interest notice with the ASX. The filing details his remaining holdings in Magellan Financ...

Magellan Financial Group Rebrands as Barrenjoey Group, Changes ASX Ticker to BJY

Oct 26, 2026

Magellan Financial Group Ltd, a diversified Australian financial services group with operations in Australia, New Zealand, Hong Kong, the UAE, the UK and the U.S., has formally rebranded as Barrenjoey Group Limited following shareholder approval. The...

Magellan Financial Group Consolidates Company Secretary Role After Resignation

Oct 22, 2026

Magellan Financial Group Ltd has announced the resignation of joint company secretary Sam Mosse, effective immediately, reflecting a change in its senior governance structure. The diversified financial services group confirmed that existing company s...

Magellan Shareholders Back Board Slate and Rebrand to Barrenjoey Group

Oct 22, 2026

Magellan Financial Group Ltd has reported that all resolutions put to shareholders at its 2026 Annual General Meeting were approved by the requisite majority, including the adoption of the remuneration report and the election or re-election of eight...

Magellan-Barrenjoey Merger Drives Rebrand and Diversified Growth Strategy

Oct 21, 2026

Magellan Financial Group Ltd, a diversified Australian financial services company with operations across multiple global financial centres, now spans financial markets, corporate finance and investment management. The group, historically known as a s...

Magellan Financial Group Reports Lapse of Conditional Equity Securities

Oct 14, 2026

Magellan Financial Group has notified the market of the cessation of several classes of equity-linked securities, including matching awards, employee equity grants, long-term incentive plan units and options, after the underlying conditions were not...

Magellan Financial Group exits substantial holding in Chimeric Therapeutics

Oct 8, 2026

Magellan Financial Group Ltd and its related entities have notified Chimeric Therapeutics Limited that they have ceased to be a substantial holder in the company as of 2 October 2026. The change, formally lodged under Australia’s Corporations A...

Magellan exits substantial shareholder position in Premier Investments

Oct 6, 2026

Magellan Financial Group Ltd and its related entities have notified Premier Investments Limited that they have ceased to be substantial shareholders as of 30 September 2026. The change, lodged under Australia’s Corporations Act, indicates that...

Magellan Director Increases Shareholding Through Equity Plan Vesting

Sep 23, 2026

Magellan Financial Group has reported a change in the holdings of director Andrew Formica following the vesting of equity plan awards. Formica’s interest in the company now totals 71,060 ordinary fully paid shares, alongside existing units in M...

Magellan Issues New Shares Following Conversion of Unquoted Securities

Sep 23, 2026

Magellan Financial Group Limited has issued 29,180 new ordinary fully paid shares following the exercise or conversion of previously unquoted securities. The issuance, effective 20 September 2026 and disclosed via an Appendix 3G, modestly increases t...

Magellan Sets October AGM to Vote on Barrenjoey Rebrand

Sep 21, 2026

Magellan Financial Group Ltd has released its 2026 Annual General Meeting materials, including the notice of meeting, voting and proxy forms, and shareholder access information, which are now available via its website. The AGM will be held on 22 Octo...

Magellan Financial Group Issues Voluntary Climate Report for 2026

Aug 26, 2026

Magellan Financial Group has released a voluntary Climate Report for the year ended 30 June 2026, outlining its approach to climate-related issues across governance, strategy, risk management, and metrics and targets. The report signals the company&#...

Magellan Sets Out FY26 Investor Report for Combined Group With Barrenjoey

Aug 26, 2026

Magellan Financial Group Ltd, listed on the ASX as MFG, operates in the asset management and broader financial services industry. Through its association and merger activity with Barrenjoey, it is expanding its footprint across capital markets, advis...

Magellan Sets Agenda for FY26 Results and FY27 Strategic Focus

Aug 26, 2026

Magellan Financial Group has outlined the agenda for its full-year financial results presentation for the year ended 30 June 2026. The briefing will cover a group update on the relationship between Magellan and Barrenjoey, detailed FY26 financial res...

Magellan Declares Interim Dividend of AUD 0.255 Per Share

Aug 26, 2026

Magellan Financial Group Ltd has declared an interim dividend of AUD 0.255 per ordinary fully paid share, covering the six-month period to 30 June 2026. The stock will trade ex-dividend on 1 September, with a record date of 2 September and payment sc...

Magellan Profit Slumps but Maintains Dividend as It Fully Acquires Barrenjoey

Aug 26, 2026

Magellan Financial Group has reported a sharp decline in its statutory results for the year to 30 June 2026, with total revenue down 39 per cent to $195.6 million and net profit after tax falling 47 per cent to $87.9 million. The weaker statutory out...

Magellan Director’s Holdings Adjusted After Airlie Small Companies Fund Closure

Aug 26, 2026

Magellan Financial Group has reported a change in director Andrew Formica’s relevant interests following the termination of the Airlie Small Companies Fund. The fund, part of Magellan’s Airlie-branded offering, ceased with effect from 27...

Magellan releases financial templates ahead of Barrenjoey merger consolidation

Aug 9, 2026

Magellan Financial Group has released detailed financial templates ahead of its full-year 2026 results, reflecting the completion of its merger with Barrenjoey Capital Partners on 1 July 2026 and its evolving ownership stake. For FY26, Magellan will...

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.

Date of analysis: Aug 28, 2026