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Bravura Solutions Limited
(Sydney:BVS)
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Rating:73Outperform
Price Target:
AU$4.00
▲(68.07% Upside)
Action:Reiterated
Date:08/17/26
Overall score is driven primarily by improved fundamentals (strong profitability rebound, low leverage, and solid free cash flow) and supportive FY27 guidance with good revenue visibility. These positives are tempered by very overbought technical conditions and the business’s history of earnings/cash-flow volatility, while valuation remains reasonable rather than a clear bargain.
Positive Factors
Recurring Revenue Visibility
A large recurring base and substantial pre-contracted revenue improve planning visibility and reduce dependence on new sales each year. This supports more durable cash generation and gives management a foundation for executing FY27 guidance.
Negative Factors
Client Attrition Risk
Material client losses can reduce recurring revenue and create implementation disruption, particularly in an enterprise software model with sizable accounts. Ongoing negotiations also indicate that retention and renewal outcomes remain important earnings variables.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Revenue Visibility
A large recurring base and substantial pre-contracted revenue improve planning visibility and reduce dependence on new sales each year. This supports more durable cash generation and gives management a foundation for executing FY27 guidance.
Read all positive factors
Bravura Solutions Limited (BVS) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.42B
Dividend Yield2.75%
Average Volume (3M)2.83M
Price to Earnings (P/E)13.1
Beta (1Y)1.06
Revenue Growth-9.72%
EPS Growth51.09%
CountryAU
Employees955
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.25
Shares Outstanding448,300,000
10 Day Avg. Volume2,924,196
30 Day Avg. Volume2,830,654
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)7.48
Price to Sales (P/S)3.17
P/FCF Ratio11.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$3.25Price Target Upside36.66% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)0.14
Revenue Forecast (FY)AU$289.58M
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:Aug 11, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 24, 2027
Earnings Call Sentiment Positive
The call emphasized strong financial performance (10% revenue growth, 76% increase in cash EBITDA), improved margins (~30% H2), cost discipline, solid cash generation and pragmatic capital management (debt facility, buyback, dividends). Management provided positive FY2027 guidance with good revenue visibility (~65%–70% pre-contracted). Key risks flagged include client attrition events (one material exit in Dec 2026), reliance on price increases for recurring revenue growth, FX sensitivity in guidance assumptions, and market/regulatory shifts in the UK. On balance the positive operational and financial momentum, combined with clear capital returns and constructive guidance, outweigh the noted risks.Positive Updates
Strong Revenue Growth
Revenue grew 10% year-on-year to $283.6 million for FY2026, driven by contract renewals, project work and customer growth.
Negative Updates
Client Attrition Events
Management noted three previously-flagged material attrition events: one client exited several years ago, a second client exited in December of FY2026 (a headwind), and the third client has extended but remains under active negotiation — reflecting customer churn risk and some recurring revenue volatility.
Read all updates
Q4-2026 Updates
Positive
Negative
Strong Revenue Growth
Revenue grew 10% year-on-year to $283.6 million for FY2026, driven by contract renewals, project work and customer growth.
Read all positive updates
Company Guidance
Management guided FY27 revenue of $280–300 million (assuming AUD:GBP 1.9 versus the FY26 average of 1.98) and cash EBITDA of $84–94 million (midpoint ≈ $89m), implying a cash EBITDA margin of about 30%—in line with the ~30% margin delivered in H2 FY26 and up from FY26 cash EBITDA of $77.1m on $283.6m revenue (27.3% margin); roughly 65–70% of annual revenue is now pre‑contracted through maintenance and committed services, providing visibility. Capital measures supporting the guidance include a combined $100m debt facility and a 12‑month on‑market buyback of up to $50m, alongside continued shareholder returns (a $0.15 per‑share dividend announced for September; DRP suspended) and closing net cash of $50.3m.Bravura Solutions Limited Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
78
Positive
Cash Flow
72
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 282.55M | 256.42M | 248.95M | 248.20M | 265.43M |
| Gross Profit | 95.73M | 256.42M | 38.98M | 11.39M | 59.23M |
| EBITDA | 85.88M | 108.03M | 29.05M | -254.15M | 57.72M |
| Net Income | 110.92M | 74.23M | 8.78M | -280.71M | 29.93M |
Balance Sheet | |||||
| Total Assets | 208.93M | 179.84M | 229.20M | 258.39M | 456.70M |
| Cash, Cash Equivalents and Short-Term Investments | 50.30M | 58.69M | 89.97M | 75.75M | 48.67M |
| Total Debt | 6.94M | 13.32M | 17.41M | 27.79M | 30.58M |
| Total Liabilities | 89.25M | 86.26M | 95.53M | 132.48M | 121.83M |
| Stockholders Equity | 119.68M | 93.58M | 133.67M | 125.91M | 334.88M |
Cash Flow | |||||
| Free Cash Flow | 79.68M | 97.71M | 23.42M | -25.87M | 15.65M |
| Operating Cash Flow | 82.59M | 100.58M | 29.91M | -6.69M | 41.82M |
| Investing Cash Flow | -3.50M | -2.87M | -6.49M | -24.09M | -33.01M |
| Financing Cash Flow | -87.24M | -127.15M | -8.87M | 57.43M | -32.38M |
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$1.42B | 13.14 | 42.94% | 3.65% | -9.72% | 51.09% | |
73 Outperform | AU$817.75M | -878.44 | -0.29% | ― | 8.33% | ― | |
66 Neutral | AU$682.93M | 13.75 | 17.13% | 1.85% | -1.53% | 10.09% | |
66 Neutral | AU$53.27M | 7.20 | 7.40% | 6.78% | -4.94% | -64.96% | |
65 Neutral | AU$669.29M | 23.62 | 25.65% | 3.85% | 6.51% | 15.45% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | AU$1.11B | 12.60 | 22.13% | 2.47% | -14.44% | 5.34% |
* Technology Sector Average
AU:BVS
Bravura Solutions Limited
3.28
1.11
51.22%
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AU:FCL
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Bravura Solutions Limited Corporate Events
Bravura Solutions Updates Market on Issue and Conversion of Unquoted Securities
Aug 17, 2026
Bravura Solutions Limited has notified the market of the issue and conversion of certain unquoted equity securities, including unquoted options that have been exercised or other unquoted convertible securities that have been converted. The new sec...
Bravura Solutions Reshapes Finance and Governance Leadership
Aug 13, 2026
Bravura Solutions has announced senior leadership changes, with former CFO and Joint Company Secretary Neil Montford stepping down from his roles, prompting a reshuffle in its finance and governance functions. The Board has appointed experienced g...
Bravura Solutions Updates Governance Framework to Align With ASX Best Practice
Aug 11, 2026
Bravura Solutions Limited has detailed its corporate governance framework for the year ended 30 June 2026, affirming alignment with the ASX Corporate Governance Council’s 4th Edition Principles and Recommendations. The company emphasizes ove...
Bravura Solutions files ASX corporate governance statement for FY2026
Aug 11, 2026
Bravura Solutions Limited has lodged its corporate governance statement for the year ended 30 June 2026 with the ASX and made it available on its investor website. The document confirms board approval as of 12 August 2026 and outlines how the comp...
Bravura Solutions Declares AUD 0.15 Interim Dividend for Half-Year to June 2026
Aug 11, 2026
Bravura Solutions Limited has declared a fully paid ordinary share dividend of AUD 0.15 per share, relating to the six-month period ended 30 June 2026. The distribution will be paid on 3 September 2026, with an ex-dividend date of 24 August 2026 a...
Bravura Solutions boosts profit and declares dividend despite lower revenue
Aug 11, 2026
Bravura Solutions reported full-year revenue from ordinary activities of $282.6 million for the year ended 30 June 2026, down 9.7% from the prior period, while total revenue from continuing shareholder activities rose 10.1% to the same level. Net ...
Bravura Sets Investor Briefing for FY26 Results Release
Aug 4, 2026
Bravura Solutions Limited has scheduled an analyst and investor briefing to coincide with the release of its full-year FY26 results on 12 August 2026. The company will host a teleconference and webcast at 9:30am AEST, requiring pre-registration fo...
Bravura Secures Dual Listing with Admission to London’s AIM
Jul 28, 2026
Bravura Solutions has secured a dual listing by admitting depositary interests representing its ordinary shares to trading on London’s AIM market, where dealings begin today under ticker BVS alongside its existing Australian Securities Excha...
Bravura Issues Notice on Conversion of Unquoted Equity Securities
Jul 9, 2026
Bravura Solutions Limited has notified the market of the issue or conversion of unquoted equity securities, specifically the exercise of unquoted options or conversion of other unquoted convertible securities. The new securities, recorded via an A...
Bravura Solutions Targets AIM Dual Listing to Boost Global Investor Reach
Jun 30, 2026
Bravura Solutions Limited plans a dual listing by seeking admission of depositary interests representing its ordinary shares to trading on AIM, the growth market operated by London Stock Exchange plc, with admission expected on or around 28 July 2...
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...
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.