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EarlyPay Limited
(Sydney:EPY)
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Rating:48Neutral
Price Target:
AU$0.14
▲(2.86% Upside)
Action:Reiterated
Date:10/29/26
The score is held back primarily by balance-sheet risk (high and rising leverage with declining equity) and volatile profitability, despite consistently positive operating and free cash flow. Technicals are mildly supportive in the short term but not convincingly positive over the long term, and valuation is a headwind due to the very high P/E relative to uneven earnings.
Positive Factors
Positive Cash Generation
Consistently positive operating and free cash flow, including during the 2023 net loss, demonstrates that the business can convert activity into cash across different earnings conditions. This supports ongoing operations and provides a foundation for funding growth, although debt remains a constraint.
Negative Factors
High and Rising Leverage
High leverage relative to equity reduces financial flexibility and leaves the company more exposed to changes in funding costs or credit performance. Rising debt alongside declining equity increases the burden on future cash generation and may constrain investment, distributions, or balance-sheet repair.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive Cash Generation
Consistently positive operating and free cash flow, including during the 2023 net loss, demonstrates that the business can convert activity into cash across different earnings conditions. This supports ongoing operations and provides a foundation for funding growth, although debt remains a constraint.
Read all positive factors
EarlyPay Limited (EPY) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$35.19M
Dividend Yield1.24%
Average Volume (3M)90.67K
Price to Earnings (P/E)72.5
Beta (1Y)0.54
Revenue Growth4.11%
EPS Growth-83.81%
CountryAU
Employees44
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)<0.01
Shares Outstanding242,666,690
10 Day Avg. Volume123,405
30 Day Avg. Volume90,669
Financial Highlights & Ratios
PEG Ratio-0.84
Price to Book (P/B)0.46
Price to Sales (P/S)0.59
P/FCF Ratio4.17
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)0.04
Revenue Forecast (FY)AU$45.90M
EarlyPay Limited Business Overview & Revenue Model
Company Description
Earlypay Limited, established in 2001 and headquartered in North Sydney, Australia, delivers a comprehensive suite of financial solutions to businesses across the country. Its operations are structured across three key divisions: Invoice Finance, ...
How the Company Makes Money
EPY primarily makes money by providing receivables-based finance (e.g., invoice finance/factoring-style facilities and related working-capital products) and earning fees and finance income on the funds advanced to clients. Key revenue streams typi...
EarlyPay Limited Financial Statement Overview
Summary
Income Statement
55
Neutral
Balance Sheet
38
Negative
Cash Flow
63
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 52.80M | 50.93M | 54.56M | 60.54M | 25.95M |
| Gross Profit | 31.01M | 30.08M | 40.62M | 41.48M | 6.28M |
| EBITDA | 20.21M | 24.32M | 25.66M | 10.47M | 27.32M |
| Net Income | 446.00K | 2.87M | 2.45M | -7.74M | 13.22M |
Balance Sheet | |||||
| Total Assets | 364.82M | 314.61M | 314.04M | 360.30M | 492.83M |
| Cash, Cash Equivalents and Short-Term Investments | 34.94M | 37.56M | 40.13M | 52.99M | 52.71M |
| Total Debt | 293.00M | 236.32M | 236.72M | 280.36M | 293.97M |
| Total Liabilities | 296.91M | 240.56M | 241.43M | 286.81M | 407.74M |
| Stockholders Equity | 67.91M | 74.05M | 72.61M | 73.48M | 85.09M |
Cash Flow | |||||
| Free Cash Flow | 7.50M | 8.79M | 8.24M | 8.30M | 11.95M |
| Operating Cash Flow | 7.56M | 9.12M | 9.33M | 9.21M | 12.68M |
| Investing Cash Flow | -58.73M | -9.73M | 24.39M | 11.72M | -84.23M |
| Financing Cash Flow | 49.00M | -1.96M | -46.58M | -20.65M | 79.49M |
EarlyPay Limited Technical Analysis
Positive
0.14
Price Trends
0.13
Positive
0.13
Positive
0.14
Negative
Market Momentum
<0.01
Negative
56.50
Neutral
83.81
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:EPY, the sentiment is Positive. The current price of 0.14 is above the 20-day moving average (MA) of 0.13, above the 50-day MA of 0.13, and below the 200-day MA of 0.14, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 56.50 is Neutral, neither overbought nor oversold. The STOCH value of 83.81 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:EPY.
EarlyPay Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$1.01B | 9.71 | 11.68% | 5.23% | 7.39% | 12.13% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | AU$260.95M | 9.00 | 8.80% | 8.60% | -6.45% | -0.06% | |
60 Neutral | AU$777.43M | 7.29 | 12.29% | 8.67% | -0.65% | 8.02% | |
54 Neutral | AU$209.78M | 13.21 | 2.93% | 2.44% | -4.83% | -55.49% | |
53 Neutral | AU$113.56M | 4.19 | 30.04% | 8.43% | 16.06% | 238.05% | |
48 Neutral | AU$35.19M | 72.50 | 0.65% | 1.24% | 4.11% | -83.81% |
* Financial Sector Average
AU:EPY
EarlyPay Limited
0.14
-0.07
-34.78%
AU:SVR
Money3 Corporation Limited
1.40
>-0.01
-0.29%
AU:CCP
Credit Corp Group Limited
15.01
1.52
11.29%
AU:HUM
Humm Group Limited
0.42
-0.17
-29.06%
AU:PNC
Pioneer Credit Ltd
0.61
-0.06
-8.33%
AU:PPM
Pepper Money Ltd
1.75
-0.33
-15.86%
EarlyPay Limited Corporate Events
EarlyPay Cancels Shares Following On-Market Buy-Back
Oct 28, 2026
EarlyPay Ltd has cancelled 2,880,364 ordinary fully paid shares following an on-market buy-back completed on October 28, 2026. The reduction in issued capital is part of the company’s capital management strategy, potentially improving earnin...
EarlyPay Continues On‑Market Share Buy‑Back Program
Oct 28, 2026
EarlyPay Ltd has issued an updated notification confirming the continuation of its on‑market share buy‑back program for its ordinary fully paid shares, EPY, on the ASX. As of 29 October 2026, the company reported that it had repurchase...
EarlyPay Updates Investors on Ongoing On‑Market Share Buy‑Back
Oct 27, 2026
EarlyPay Ltd has issued an updated notification to the ASX regarding its ongoing on‑market share buy‑back of ordinary fully paid securities. The update, dated 28 October 2026, reports that the company repurchased a further eight shares...
EarlyPay Updates ASX on Ongoing On-Market Share Buy-Back
Oct 26, 2026
EarlyPay Ltd has continued its on-market share buy-back program for its ordinary fully paid shares, reporting a total of 22,348,787 securities repurchased prior to the latest trading day. The company bought back an additional 300,063 shares on the...
Earlypay Sets Fully Virtual AGM and Moves to Digital Meeting Materials
Oct 26, 2026
Earlypay Limited has called its Annual General Meeting for 10:00am AEDT on Thursday, 26 November 2026, to be conducted virtually via a webinar conferencing facility for all shareholders. The company is shifting to electronic distribution of AGM ma...
EarlyPay Updates ASX on Progress of Ongoing On‑Market Share Buy‑Back
Oct 22, 2026
EarlyPay Ltd has provided an updated notification to the ASX on its ongoing on-market share buy-back program involving its ordinary fully paid shares, EPY. The company reported that it had repurchased a cumulative 22,309,694 shares before the prev...
EarlyPay Updates Market on Progress of On‑Market Share Buy‑Back
Oct 21, 2026
EarlyPay Ltd has issued an updated notification to the ASX confirming the ongoing execution of its on‑market share buy‑back program in its ordinary fully paid shares. The latest daily buy‑back notice, dated 22 October 2026, repor...
EarlyPay updates market on ongoing on-market share buy-back
Oct 20, 2026
EarlyPay Ltd has updated the market on its ongoing on‑market share buy‑back program of ordinary fully paid shares. The company reported that it has repurchased a total of 22,185,689 shares prior to the latest trading day, with an addit...
EarlyPay updates market on ongoing on‑market share buy‑back
Oct 6, 2026
EarlyPay Ltd has continued its on-market share buy-back program, focused on ordinary fully paid shares trading under the EPY ticker on the ASX. The company reported that it has repurchased a total of 22,138,009 shares prior to the latest trading d...
EarlyPay Updates Investors on Progress of On-Market Share Buy-Back
Sep 30, 2026
EarlyPay Ltd has issued an updated notification on its ongoing on-market share buy-back program for its ordinary fully paid shares on the ASX. The latest filing reports that a total of 22,018,009 shares had been repurchased before the previous day...
EarlyPay updates market on ongoing on-market share buy-back
Sep 27, 2026
EarlyPay Ltd has provided an updated notification to the ASX on the progress of its on-market share buy-back program for its ordinary fully paid shares, coded EPY. The company reported that a total of 21,714,509 shares had been repurchased before ...
EarlyPay Updates Market on Progress of On‑Market Share Buy‑Back
Sep 22, 2026
EarlyPay Ltd has disclosed an update on its ongoing on‑market share buy‑back program, covering ordinary fully paid shares traded under the ASX code EPY. The company did not provide additional detail on its business activities in this f...
EarlyPay Continues On-Market Share Buy-Back, Lifts Total to Over 21 Million Shares
Sep 21, 2026
EarlyPay Ltd has continued its on-market share buy-back program, confirming a daily update to the ASX for its ordinary fully paid shares under the code EPY. The latest notification, dated 22 September 2026, reports that the company repurchased an ...
Earlypay issues new shares under employee scheme and affirms regulatory compliance
Sep 18, 2026
Earlypay Limited has issued 55,667 fully paid ordinary shares following the exercise of an equal number of performance rights under its Employee Incentive Scheme, slightly increasing its share base. The company confirmed that the issuance was made...
EarlyPay seeks ASX quotation for new share issuance
Sep 18, 2026
EarlyPay Ltd has applied to the Australian Securities Exchange for quotation of 55,667 ordinary fully paid shares. The new securities, issued on 18 September 2026, arise from the exercise or conversion of existing options or other convertible inst...
EarlyPay Updates Investors on Progress of On-Market Share Buy-Back
Sep 17, 2026
EarlyPay Ltd has issued an updated notification regarding its ongoing on-market share buy-back program for its ordinary fully paid shares on the ASX. The latest update, dated 18 September 2026, confirms that a total of 20,955,996 shares had been r...
EarlyPay Updates Market on Daily Progress of On‑Market Share Buy‑Back
Sep 16, 2026
EarlyPay Ltd has continued its on‑market share buy‑back program, reporting that a total of 20,879,534 ordinary fully paid shares had been repurchased prior to the latest trading day. The company disclosed that a further 76,462 shares w...
EarlyPay Updates Market on Progress of On-Market Share Buy-Back
Sep 14, 2026
EarlyPay Ltd has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The latest daily report, dated 15 September 2026, confirms that the company continues to active...
EarlyPay Updates Market on Progress of On-Market Share Buy-Back
Sep 13, 2026
EarlyPay Ltd, listed on the ASX under the code EPY, is focused on managing its capital structure via ordinary fully paid shares. The company utilises on-market buy-back programs as part of its approach to capital management and shareholder returns...
Earlypay Director Melos Sulicich Increases Indirect Shareholding
Sep 11, 2026
Earlypay Limited has disclosed a change in director Melos Sulicich’s indirect interest in the company’s shares. The update, lodged with the ASX under listing rule requirements, details an on-market purchase that increases the director&...
EarlyPay Provides Daily Update on Ongoing Share Buy-Back
Sep 10, 2026
EarlyPay Ltd has issued an updated notification to the ASX regarding its ongoing on-market buy-back of ordinary fully paid shares. The company reported that it has cumulatively repurchased 20,332,207 shares prior to the latest trading day and acqu...
EarlyPay Director Melos Sulicich Increases Indirect Shareholding via On-Market Purchase
Sep 7, 2026
EarlyPay Limited has disclosed a change in director interests, indicating that director Melos Sulicich has acquired an indirect stake in the company. The interest is held through Sulicich Investments Pty Ltd as trustee for a self-managed superannu...
EarlyPay Director Increases Shareholding via Performance Rights Conversion
Sep 3, 2026
EarlyPay Limited has disclosed a change in the interests of director James Beeson, reflecting the conversion of vested performance rights into fully paid ordinary shares. The transaction, effective 1 September 2026, results in Beeson’s indir...
EarlyPay Updates Daily On‑Market Share Buy‑Back Totals
Sep 2, 2026
EarlyPay Ltd, an ASX‑listed financial services and capital markets participant, manages its shareholder base through ordinary fully paid shares under the EPY ticker. The company uses on‑market buy‑back programs as a tool to adjus...
EarlyPay Expands ASX-Quoted Share Base With New Issue
Sep 2, 2026
EarlyPay Ltd has issued 406,667 ordinary fully paid shares, which are set to be quoted on the Australian Securities Exchange under the code EPY. The new securities were issued on Sept. 1, 2026, and the company has lodged a formal application for t...
EarlyPay Updates Market on Progress of On‑Market Share Buy‑Back
Sep 1, 2026
EarlyPay Ltd has provided an updated notification to the ASX on its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that it had repurchased a cumulative total of 20,068,494 shares prior to the late...
Earlypay builds stronger SME lending base as FY26 earnings reset for FY27 growth
Aug 27, 2026
Earlypay Limited reported fiscal 2026 net revenue of $36.0 million, up seven per cent, with underlying NPAT of $3.7 million, as funds in use rose 23 per cent to $307.8 million, the highest level in more than three years. Despite higher credit cost...
Earlypay revenue edges higher but profit slumps on one-off costs
Aug 27, 2026
Earlypay Ltd reported a modest 3.8% rise in revenue to $52.9 million for the year to 30 June 2026, but statutory net profit after tax plunged 84.4% to $0.45 million as non-cash and one-off costs weighed on earnings. Underlying NPAT, which manageme...
Earlypay Invites Investors to FY26 Results Webinar
Aug 20, 2026
Earlypay Limited has invited investors to join a webinar and QA on 27 August 2026 to discuss its FY26 financial results, with senior management presenting and taking questions. The event underscores the company’s engagement with shareholders...
Earlypay Director James Beeson Updates Equity Holdings After Performance Rights Lapse
Aug 13, 2026
Earlypay Limited has disclosed a change in the interests of director James Beeson, detailing adjustments to his direct and indirect holdings in company securities. The update notes the lapse of 406,667 performance rights after vesting conditions w...
EarlyPay Rights Lapse Trims Potential Issued Capital
Aug 13, 2026
EarlyPay Ltd has reported the cessation of 1,557,999 EPYAB rights following the lapse of conditional rights to securities. The rights expired on 11 August 2026 because the conditions attached to them were not satisfied or could no longer be met, r...
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.