Bravura Solutions Limited (AU:BVS)
ASX:BVS
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Bravura Solutions Limited
(Sydney:BVS)
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Rating:73Outperform
Price Target:
AU$3.00
▲(15.38% Upside)
Action:Reiterated
Date:02/11/26
The score is driven primarily by strong financial recovery and cash flow strength, supported by reasonable valuation and a high dividend yield. Upgraded guidance and solid H1 momentum help, while mixed technical signals and earnings-call risks (client attrition, pricing dependence, and revenue lumpiness) limit upside.
Positive Factors
Strong profitability & margins
Sustained high EBIT and net margins reflect durable operating leverage in a software business, indicating efficient cost structure and pricing power. These margins support reinvestment in product, resilience through cycles, and capacity to fund dividends and strategic initiatives over months.
Negative Factors
Client attrition & concentration
Material client departures and customer concentration create persistent revenue vulnerability: losing a few large clients can materially reduce recurring income and undermine multi‑year contracts, increasing volatility and forcing higher sales/retention spend to rebuild base.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability & margins
Sustained high EBIT and net margins reflect durable operating leverage in a software business, indicating efficient cost structure and pricing power. These margins support reinvestment in product, resilience through cycles, and capacity to fund dividends and strategic initiatives over months.
Read all positive factors
Bravura Solutions Limited (BVS) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$977.29M
Dividend Yield10.16%
Average Volume (3M)2.83M
Price to Earnings (P/E)24.8
Beta (1Y)1.24
Revenue Growth-12.00%
EPS Growth-45.47%
CountryAU
Employees1,085
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.09
Shares Outstanding448,300,000
10 Day Avg. Volume2,924,196
30 Day Avg. Volume2,830,654
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)10.63
Price to Sales (P/S)3.88
P/FCF Ratio10.18
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)0.11
Revenue Forecast (FY)AU$282.25M
Bravura Solutions Limited Business Overview & Revenue Model
Company Description
Bravura Solutions Limited specializes in developing, licensing, and maintaining software applications designed for the wealth management and funds administration industries. The company operates globally, with a presence in Australia, New Zealand,...
How the Company Makes Money
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Bravura Solutions Limited Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Sep 01, 2026
Earnings Call Sentiment Positive
The call conveyed solid operational and financial momentum: double-digit revenue growth year-on-year, materially higher cash EBITDA and NPAT, upgraded FY26 guidance, strong cash balance with no debt, and meaningful shareholder returns via interim and special dividends. These positives are tempered by client attrition risks (one recent departure with additional potential exits), reliance on pricing for recurring revenue growth, and increased project-driven revenue that can be lumpy. Management highlights cost discipline and expansion within existing customers as the primary drivers offsetting attrition.Positive Updates
Strong Profitability and EBITDA Growth
Cash EBITDA of $34.2M, up $14.2M versus H1 FY25; underlying NPAT of $25.9M, up $14.6M versus H1 FY25, demonstrating meaningful profitability improvement.
Negative Updates
Client Attrition and Concentration Risk
Management highlighted three expected material attritions (flagged in 2022): one departed long ago, a second departed just over a month before period end (full impact seen in the current reporting period), and the third remains unresolved—recurring revenue exposed to client departures.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Profitability and EBITDA Growth
Cash EBITDA of $34.2M, up $14.2M versus H1 FY25; underlying NPAT of $25.9M, up $14.6M versus H1 FY25, demonstrating meaningful profitability improvement.
Read all positive updates
Company Guidance
Management upgraded FY26 guidance to revenue of $280–285 million, cash EBITDA of $69–73 million and PP&E of about $4 million, reflecting an expectation of further second‑half improvement driven by increased professional services, product enhancements and contract repricing; this follows a strong H1 with revenue $140.0m (up 9.8% y/y), recurring revenue $81.3m (up 5% y/y), cash EBITDA $34.2m (up $14.2m), underlying NPAT $25.9m (up $14.6m), net closing cash $64.5m and no debt. Management also declared an interim dividend of $0.0577 per share ($25.9m, equal to 100% of H1 NPAT) and a special dividend of $0.0446 per share ($20.0m), noting ~2/3 of recurring revenue growth last year came from pricing and that over $0.40 per share has been returned to shareholders over the past two years.Bravura Solutions Limited Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
68
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 269.15M | 256.42M | 248.95M | 248.20M | 265.43M | 242.34M |
| Gross Profit | 75.47M | 256.42M | 38.98M | 11.39M | 59.23M | 60.35M |
| EBITDA | 62.75M | 108.03M | 29.05M | -254.15M | 57.72M | 62.06M |
| Net Income | 38.85M | 74.23M | 8.78M | -280.71M | 29.93M | 34.56M |
Balance Sheet | ||||||
| Total Assets | 181.95M | 179.84M | 229.20M | 258.39M | 456.70M | 465.88M |
| Cash, Cash Equivalents and Short-Term Investments | 64.52M | 58.69M | 89.97M | 75.75M | 48.67M | 73.57M |
| Total Debt | 11.80M | 13.32M | 17.41M | 27.79M | 30.58M | 36.76M |
| Total Liabilities | 94.57M | 86.26M | 95.53M | 132.48M | 121.83M | 136.09M |
| Stockholders Equity | 87.38M | 93.58M | 133.67M | 125.91M | 334.88M | 329.78M |
Cash Flow | ||||||
| Free Cash Flow | 72.24M | 97.71M | 23.42M | -25.87M | 15.65M | 21.64M |
| Operating Cash Flow | 74.53M | 100.58M | 29.91M | -6.69M | 41.82M | 46.98M |
| Investing Cash Flow | -4.81M | -2.87M | -6.49M | -24.09M | -33.01M | -48.39M |
| Financing Cash Flow | -156.62M | -127.15M | -8.87M | 57.43M | -32.38M | -25.09M |
Bravura Solutions Limited Technical Analysis
Negative
2.60
Price Trends
2.20
Negative
2.11
Positive
2.30
Negative
Market Momentum
-0.02
Positive
45.04
Neutral
43.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BVS, the sentiment is Negative. The current price of 2.6 is above the 20-day moving average (MA) of 2.26, above the 50-day MA of 2.20, and above the 200-day MA of 2.30, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 45.04 is Neutral, neither overbought nor oversold. The STOCH value of 43.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BVS.
Bravura Solutions Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$977.29M | 24.84 | 42.94% | 10.16% | -12.00% | -45.47% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | AU$1.13B | 14.28 | 19.57% | 2.47% | -7.41% | -11.47% | |
55 Neutral | AU$693.11M | -304.70 | -0.72% | ― | 10.99% | ― | |
54 Neutral | AU$448.85M | 35.00 | 4.13% | ― | 4.45% | ― |
* Technology Sector Average
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Bravura Solutions Limited Corporate Events
Bravura Solutions Updates Registered Office Location in Sydney
May 31, 2026
Bravura Solutions Limited, a global financial software provider to wealth management, life insurance and funds administration clients, delivers on-premise, managed, hosted and cloud solutions that help major institutions modernise and streamline t...
Bravura Names Group CEO Colin Greenhill to Board as Executive Director
May 10, 2026
Bravura Solutions Limited, a specialist in wealth management, life insurance and funds administration software, delivers modernisation and digital solutions to leading financial institutions worldwide, supported by a global workforce of about 1,00...
Bravura Issues 1.6 Million Unquoted Options Under Employee Incentive Plan
Apr 22, 2026
Bravura Solutions Limited has notified the market of the issue of 1.6 million unquoted options under its employee incentive scheme, with various expiry dates and exercise prices, effective 15 April 2026. The move underscores the company’s co...
Bravura Director Russell Baskerville Lifts Indirect Shareholding via On‑Market Purchase
Apr 9, 2026
Bravura Solutions has disclosed a change in the indirect shareholding of director Russell Baskerville, lodged with the ASX in accordance with listing rule requirements. Through Hollow Shores Pty Ltd as trustee for the Baskerville Family Super Fund...
Bravura Solutions Flags Conversion of Unquoted Equity Securities
Apr 2, 2026
Bravura Solutions Limited has notified the market of the issue or conversion of unquoted equity securities, specifically unquoted options that have been exercised or other unquoted convertible securities that have been converted. The move modestly...
Bravura Solutions Reshapes Governance Team With New Joint Company Secretaries
Apr 1, 2026
Bravura Solutions Limited has announced a change in its corporate governance team, with the resignation of Melissa Jones as Company Secretary and the appointment of Neil Montford and Kathryn Erman as Joint Company Secretaries, effective immediatel...
Bravura Resets CEO Sign-On Option Price to Reflect Market Levels
Mar 15, 2026
Bravura Solutions has adjusted the terms of the sign-on equity package for its recently appointed Group CEO, Colin Greenhill, lowering the exercise price of his 1.6 million options from $2.57 to $2.15, in line with the company’s volume-weigh...
Macquarie Group Ceases to Be Substantial Holder in Bravura Solutions
Mar 13, 2026
Macquarie Group Limited and its controlled entities have lodged a notice that they have ceased to be substantial shareholders in Bravura Solutions Limited as of 10 March 2026. The change, formalised by company secretary Simone Kovacic, indicates M...
Macquarie Group Ceases to Be Substantial Holder in Bravura Solutions
Mar 6, 2026
Macquarie Group Limited and a wide range of its controlled entities have notified Bravura Solutions that they have ceased to be a substantial holder in the company. The change, formalised in an Australian regulatory notice dated 6 March 2026, sign...
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.