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COG Financial Services Limited
(Sydney:COG)
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Rating:74Outperform
Price Target:
AU$2.00
â–²(51.52% Upside)
Action:Upgraded
Date:09/19/26
The score is driven primarily by improving financial performance and strong cash generation, tempered by elevated leverage risk on the balance sheet. Technically, the stock shows clear bullish trend and positive momentum, though indicators are nearing overbought levels. Valuation is broadly reasonable with a mid P/E and a solid dividend yield.
Positive Factors
Revenue and Profit Growth
Strong FY2026 revenue acceleration and substantial improvement in net income indicate expanding operating activity and better earnings capacity. If this performance is sustained, the company should have greater scope to reinvest in origination and lending operations while strengthening its ability to absorb normal business volatility.
Negative Factors
Elevated Leverage
High debt relative to equity leaves COG more exposed to weaker earnings, funding pressure, and higher financing costs. Although debt declined in FY2026, equity has remained broadly steady rather than expanding strongly, so leverage continues to constrain financial flexibility and resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profit Growth
Strong FY2026 revenue acceleration and substantial improvement in net income indicate expanding operating activity and better earnings capacity. If this performance is sustained, the company should have greater scope to reinvest in origination and lending operations while strengthening its ability to absorb normal business volatility.
Read all positive factors
COG Financial Services Limited (COG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$379.63M
Dividend Yield3.93%
Average Volume (3M)271.97K
Price to Earnings (P/E)15.4
Beta (1Y)0.39
Revenue Growth9.71%
EPS Growth23.18%
CountryAU
Employees1,000
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.12
Shares Outstanding213,273,060
10 Day Avg. Volume171,833
30 Day Avg. Volume271,966
Financial Highlights & Ratios
PEG Ratio0.42
Price to Book (P/B)1.85
Price to Sales (P/S)0.72
P/FCF Ratio3.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$2.10Price Target Upside59.09% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.16
Revenue Forecast (FY)AU$438.67M
COG Financial Services Limited Business Overview & Revenue Model
Company Description
COG Financial Services Limited, along with its group of companies, delivers a broad spectrum of services across Australia. Its core offerings encompass equipment financing and broking, aggregation services, insurance broking, and novated leasing. ...
How the Company Makes Money
COG makes money primarily by originating and administering asset finance and earning income across broking/origination and lending activities. Key revenue streams typically include: (1) Brokerage/origination income: commissions and fees earned whe...
COG Financial Services Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
57
Neutral
Cash Flow
78
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 403.43M | 367.73M | 362.35M | 366.01M | 320.77M |
| Gross Profit | 193.44M | 283.43M | 169.20M | 132.47M | 105.39M |
| EBITDA | 90.90M | 79.53M | 74.28M | 62.41M | 53.25M |
| Net Income | 24.24M | 18.77M | 12.85M | 8.05M | 19.68M |
Balance Sheet | |||||
| Total Assets | 743.92M | 694.80M | 687.12M | 593.00M | 518.22M |
| Cash, Cash Equivalents and Short-Term Investments | 187.00M | 149.25M | 125.68M | 101.80M | 76.11M |
| Total Debt | 345.81M | 375.98M | 376.75M | 283.73M | 243.27M |
| Total Liabilities | 537.30M | 488.30M | 483.49M | 378.53M | 310.61M |
| Stockholders Equity | 156.28M | 152.08M | 151.69M | 163.92M | 170.95M |
Cash Flow | |||||
| Free Cash Flow | 81.38M | 45.92M | 35.66M | 28.55M | 205.73M |
| Operating Cash Flow | 82.36M | 49.30M | 46.36M | 31.79M | 208.19M |
| Investing Cash Flow | -7.24M | 2.66M | -87.16M | -19.53M | -201.93M |
| Financing Cash Flow | -37.37M | -28.39M | 64.69M | 30.12M | -24.67M |
COG Financial Services Limited Technical Analysis
Positive
1.32
Price Trends
1.69
Positive
1.53
Positive
1.50
Positive
Market Momentum
0.01
Positive
54.56
Neutral
81.01
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:COG, the sentiment is Positive. The current price of 1.32 is below the 20-day moving average (MA) of 1.78, below the 50-day MA of 1.69, and below the 200-day MA of 1.50, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 54.56 is Neutral, neither overbought nor oversold. The STOCH value of 81.01 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:COG.
COG Financial Services Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | AU$267.78M | 20.14 | 22.26% | 6.35% | 7.58% | -27.93% | |
74 Outperform | AU$379.63M | 15.35 | 15.76% | 3.93% | 9.71% | 23.18% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | AU$5.43B | 45.67 | 21.88% | 1.17% | 23.25% | 50.21% | |
64 Neutral | AU$265.67M | 39.49 | 5.79% | 4.59% | 7.20% | -51.06% | |
56 Neutral | AU$4.24B | 68.38 | 38.95% | 2.43% | 21.01% | -48.10% |
* Financial Sector Average
AU:COG
COG Financial Services Limited
1.78
-0.46
-20.43%
AU:HUB
HUB24 Limited
66.59
-46.10
-40.91%
AU:PPS
Praemium Ltd
0.55
-0.35
-39.17%
AU:NWL
Netwealth Group Ltd.
17.27
-13.85
-44.50%
AU:FID
Fiducian Group Ltd
8.46
-3.86
-31.33%
COG Financial Services Limited Corporate Events
COG Director Trims Indirect Stake in $5m Share Sale
Sep 4, 2026
COG Financial Services Limited has disclosed a change in the indirect shareholdings of director Cameron McCullagh, reflecting a significant on‑market sale of ordinary fully paid shares held via a related investment entity. Following the tran...
COG Director Cameron McCullagh Cuts Reportable Stake via $7.5m Off-Market Family Share Transfer
Aug 27, 2026
Director Cameron McCullagh of COG Financial Services Limited has disclosed a significant change in his indirect shareholding through related entities. An off-market crossing transferred 4,934,211 ordinary shares held via his spouse’s investm...
GEGM exits substantial holder status in COG after $7.5m share transfer
Aug 27, 2026
GEGM Investments Pty Limited and associated entities have notified COG Financial Services Limited that they have ceased to be substantial shareholders as of 26 August 2026. The change follows an off-market sale of 4,934,211 fully paid ordinary sha...
COG Financial Services lifts earnings and dividend on stronger FY 2026 results
Aug 26, 2026
COG Financial Services Limited reported strong FY 2026 results, with revenue rising 9% to $399.8 million, and EBITDA attributable to shareholders increasing 28% to $51.5 million. Earnings per share rose 27% to 15.63 cents, while the final dividend...
COG lifts profit and dividend as salary packaging surges, targets further growth in FY27
Aug 26, 2026
COG Financial Services reported underlying EBITDA attributable to shareholders of $51.5 million for the year to 30 June 2026, a 28% increase driven largely by an 88% jump in salary packaging earnings and strong growth in novated leasing customers ...
COG Financial Services Declares Final Dividend and Suspends DRP
Aug 25, 2026
COG Financial Services Limited has announced a final dividend of AUD 0.035 per ordinary fully paid share for the six‑month period ended 30 June 2026. The dividend timetable sets an ex‑dividend date of 31 August, a record date of 1 Sept...
COG Financial Services Files FY2026 Governance Disclosures with ASX
Aug 25, 2026
COG Financial Services Limited has lodged its Appendix 4G and Corporate Governance Statement for the financial year ended 30 June 2026 with the Australian Securities Exchange. The governance statement, approved by the board and current as of 26 Au...
COG Financial Services lifts profit and dividends despite negative tangible asset base
Aug 25, 2026
COG Financial Services Limited, a diversified Australian financial services group, derives its revenue from continuing operations in funding, leasing and related commercial finance solutions for business customers. Through its controlled entities,...
COG Financial Services Sets Investor Webinar for FY26 Results
Aug 24, 2026
COG Financial Services Limited has scheduled an investor webinar to present its financial results for the 2026 financial year, with Chief Executive Officer Andrew Bennett and Chief Financial Officer Richard Balzer leading the briefing. The online ...
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.