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EQT Holdings Ltd.
(Sydney:EQT)
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Rating:65Neutral
Price Target:
AU$24.00
▲(12.68% Upside)
Action:Reiterated
Date:10/16/26
The score is driven primarily by solid financial performance supported by strong operating and free cash flow, offset by weaker latest-year revenue/earnings and higher leverage. Technicals are moderately supportive with price above key moving averages but mixed momentum signals. Valuation is a headwind given the P/E and low yield. Earnings call guidance is constructive for continuing operations, but ongoing litigation and transition-related cash/cost items meaningfully constrain the upside near term.
Positive Factors
Strong cash generation
Robust operating and free cash flow indicates that reported profits are converting into usable funds. This supports investment, dividends, and balance-sheet management, while providing resilience for the continuing businesses as the company funds transformation and navigates its strategic transition.
Negative Factors
Higher leverage
The sharp increase in debt has reduced financial flexibility compared with the prior, more conservatively financed profile. Although equity remains sizable, higher leverage can constrain capital allocation and leave less capacity to absorb weaker earnings or fund strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Robust operating and free cash flow indicates that reported profits are converting into usable funds. This supports investment, dividends, and balance-sheet management, while providing resilience for the continuing businesses as the company funds transformation and navigates its strategic transition.
Read all positive factors
EQT Holdings Ltd. (EQT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$565.94M
Dividend Yield0.89%
Average Volume (3M)87.34K
Price to Earnings (P/E)21.6
Beta (1Y)0.75
Revenue Growth-7.09%
EPS Growth-18.20%
CountryAU
Employees444
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.98
Shares Outstanding26,834,295
10 Day Avg. Volume84,500
30 Day Avg. Volume87,337
Financial Highlights & Ratios
PEG Ratio-0.91
Price to Book (P/B)1.09
Price to Sales (P/S)2.64
P/FCF Ratio8.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$22.10Price Target Upside3.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.66
Revenue Forecast (FY)AU$201.36M
EQT Holdings Ltd. Business Overview & Revenue Model
Company Description
Melbourne, Australia-headquartered EQT Holdings Limited, established in 1888, offers a broad spectrum of philanthropic, executor, and investment services across Australia, the United Kingdom, and Ireland. The company's operations are divided into ...
How the Company Makes Money
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EQT Holdings Ltd. Earnings Call Summary
Earnings Call Date:Aug 26, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 25, 2027
Earnings Call Sentiment Positive
The call was predominantly positive about the continuing TWS and CTS businesses, highlighting strong revenue, funds, profit, margin, client, and pipeline performance, as well as a clearer strategic focus and positive FY 2027 outlook. However, the overall statutory result was negatively affected by the STS exit, goodwill impairment, litigation and regulatory costs, retained stranded costs, and capital requirements associated with the transition.Positive Updates
Strong Continuing Operations Performance
Continuing operations delivered strong financial and operational outcomes, with funds under management, administration, and supervision increasing by more than 15% to AUD 191 billion, revenue increasing 9.4%, and net profit after tax from continuing operations growing 32.7%.
Negative Updates
Statutory Profit Decline from Discontinued Operations
The group statutory result was adversely affected by the discontinued superannuation operations and a AUD 13.1 million non-cash goodwill impairment. Group net profit after tax decreased 20.5% to AUD 26.4 million, and earnings per share for the year was AUD 0.9864.
Read all updates
Q4-2026 Updates
Positive
Negative
Strong Continuing Operations Performance
Continuing operations delivered strong financial and operational outcomes, with funds under management, administration, and supervision increasing by more than 15% to AUD 191 billion, revenue increasing 9.4%, and net profit after tax from continuing operations growing 32.7%.
Read all positive updates
Company Guidance
For FY 2027, Equity Trustees expects “strong momentum in the continuing businesses” and “top line growth still in the continuing operations business,” with “percentage margins for continuing operations being stable in the forward view, subject to the normal caveats”; the superannuation exit is expected to occur “during FY 2027” and be “completed by the end of FY 2027,” triggering repayment of AUD 35.8 million of loan facilities, while approximately AUD 5 million of transformation-related investment is expected during the year, continuing litigation costs are expected, and reductions in retained corporate overheads are expected to have their “main benefits starting to be realized in FY 2028.”EQT Holdings Ltd. Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
58
Neutral
Cash Flow
76
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 161.90M | 178.71M | 169.45M | 138.58M | 110.56M |
| Gross Profit | 162.74M | 173.11M | 44.38M | 34.22M | 43.38M |
| EBITDA | 54.54M | 61.62M | 43.91M | 36.37M | 41.67M |
| Net Income | 26.42M | 33.22M | 20.71M | 18.83M | 24.23M |
Balance Sheet | |||||
| Total Assets | 624.20M | 540.48M | 539.86M | 511.91M | 371.15M |
| Cash, Cash Equivalents and Short-Term Investments | 169.92M | 156.48M | 138.76M | 109.69M | 118.32M |
| Total Debt | 159.89M | 82.96M | 82.14M | 63.30M | 50.45M |
| Total Liabilities | 222.03M | 136.59M | 141.26M | 112.38M | 89.81M |
| Stockholders Equity | 402.17M | 403.90M | 402.09M | 405.39M | 285.27M |
Cash Flow | |||||
| Free Cash Flow | 51.58M | 38.27M | 32.54M | 8.76M | 31.86M |
| Operating Cash Flow | 52.60M | 40.33M | 39.04M | 12.58M | 34.13M |
| Investing Cash Flow | -1.85M | 2.96M | -3.29M | -127.25M | -7.27M |
| Financing Cash Flow | 40.19M | -25.44M | -6.58M | 106.10M | -10.53M |
EQT Holdings Ltd. Technical Analysis
Neutral
21.30
Price Trends
20.94
Positive
19.11
Positive
19.59
Positive
Market Momentum
0.30
Negative
50.16
Neutral
66.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:EQT, the sentiment is Neutral. The current price of 21.3 is above the 20-day moving average (MA) of 20.85, above the 50-day MA of 20.94, and above the 200-day MA of 19.59, indicating a bullish trend. The MACD of 0.30 indicates Negative momentum. The RSI at 50.16 is Neutral, neither overbought nor oversold. The STOCH value of 66.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:EQT.
EQT Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | AU$6.94B | 27.09 | 3.80% | 4.18% | 2.17% | 0.68% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | AU$3.09B | 18.87 | 6.21% | 4.01% | 44.63% | -63.30% | |
65 Neutral | AU$565.94M | 21.62 | 6.50% | 0.89% | -7.09% | -18.20% | |
60 Neutral | AU$419.94M | 34.34 | 2.56% | 7.31% | 86.21% | -44.46% | |
58 Neutral | AU$517.06M | 40.00 | 2.07% | 4.53% | 45.10% | 44.28% | |
54 Neutral | AU$1.13B | -9.15 | -7.37% | 15.53% | -145.54% | -156.29% |
* Financial Sector Average
AU:EQT
EQT Holdings Ltd.
21.09
-1.49
-6.58%
AU:PIC
Perpetual Equity Investment Co. Ltd.
1.09
-0.08
-7.16%
AU:WAM
WAM Capital Ltd.
0.99
-0.57
-36.62%
AU:ARG
Argo Investments Limited
9.22
0.43
4.83%
AU:MFF
MFF Capital Investments Ltd.
5.21
0.69
15.32%
AU:MIR
Mirrabooka Investments Ltd
2.31
-0.83
-26.34%
EQT Holdings Ltd. Corporate Events
EQT expands responsible entity reach with Platinum acquisition
Oct 11, 2026
EQT Holdings Ltd. has entered into a conditional agreement to acquire all shares in Platinum Investment Management Limited, the responsible entity for a suite of listed and unlisted Platinum-branded funds, including the Platinum International Fund...
EQT Holdings adds employee incentive shares to ASX quotation
Sep 30, 2026
EQT Holdings Ltd. has applied for quotation on the ASX of 16,852 ordinary fully paid shares issued on 23 September 2026 under an employee incentive scheme. The move marginally increases the company’s quoted share capital and reflects the ong...
EQT Holdings Calls 2026 AGM to Vote on Board Seats and Executive Incentives
Sep 21, 2026
EQT Holdings Limited, a financial services group listed on the ASX, provides fiduciary and wealth management services to clients, overseen by a board led by Chair Carol Schwartz AO. The company adheres to established governance standards, includin...
EQT Board Seeks Higher Bids as TPG and BGH Reaffirm Takeover Interest
Sep 20, 2026
EQT Holdings has confirmed that private equity firms TPG Global and BGH Capital remain interested in acquiring 100% of the company via schemes of arrangement, with both suitors indicating their indicative offer prices will not be adjusted for EQT&...
EQT Director O’Brien Adjusts Equity Holdings After LTI Vesting
Sep 11, 2026
EQT Holdings Ltd. operates in the financial services sector, providing trustee, fiduciary and wealth management services to individuals, institutions and superannuation funds. The company focuses on investment, estate and trust administration solu...
EQT Holdings Seeks ASX Quotation for 23,602 New Shares
Sep 11, 2026
EQT Holdings Ltd., an ASX-listed financial services group trading under ticker EQT, manages its capital structure through the issuance and quotation of ordinary fully paid shares on the Australian Securities Exchange. The company’s equity ma...
EQT Holdings Cuts 41,611 Unvested Performance Share Rights
Sep 11, 2026
EQT Holdings Limited has notified the market that 41,611 performance share rights, classified as EQTAA securities, have lapsed following a failure to meet the specified vesting conditions. The cessation, effective 4 September 2026, reflects a redu...
EQT Holdings Issues New Shares on Conversion of Unquoted Securities
Sep 11, 2026
EQT Holdings Limited has notified the market of the issue of 5,574 ordinary fully paid shares following the conversion or exercise of previously unquoted options or other convertible securities. The new shares, dated 4 September 2026, represent a ...
EQT Holdings Director Carol Schwartz Increases Indirect Shareholding After Rights Vesting
Sep 11, 2026
EQT Holdings Limited has reported a change in the indirect interests of director Carol Judith Schwartz in the company’s securities. Schwartz’s holdings through Jewelcross Pty Ltd as trustee for the Schwartz Children’s Trust remai...
UBS Group Ceases to Be Substantial Shareholder in EQT Holdings
Sep 2, 2026
UBS Group AG and its related bodies corporate have lodged a notice stating they ceased to be a substantial shareholder in EQT Holdings Limited as of 31 August 2026. The change in UBS’s relevant interest in EQT’s voting securities, deta...
EQT Holdings Announces AUD 0.20 Interim Dividend for June Half-Year
Aug 27, 2026
EQT Holdings Ltd., an ASX-listed financial services firm, has announced a distribution on its ordinary fully paid shares following the close of its financial period ended 30 June 2026. The company’s market presence in trustee and wealth mana...
EQT Holdings Files 2026 Governance Disclosures, Affirms Compliance with ASX Principles
Aug 27, 2026
EQT Holdings Ltd has filed its Appendix 4G and corporate governance statement for the year ended 30 June 2026, confirming board approval as of 27 August 2026. The disclosure outlines how the company aligns with ASX Corporate Governance Council rec...
EQT Holdings outlines FY26 results and strategic outlook
Aug 27, 2026
EQT Holdings Limited has released an investor presentation outlining its results for the year ended 30 June 2026, led by Managing Director Mick O’Brien and Chief Financial Officer Johanna Platt. The presentation agenda covers a business perf...
Equity Trustees lifts FY26 profit as core businesses grow amid superannuation exit
Aug 27, 2026
Equity Trustees reported a 32.7% rise in net profit after tax from continuing operations to $33.9 million for FY26, driven by 9.4% revenue growth to $167 million and margin expansion as it advances its exit from the loss-making Superannuation Trus...
EQT Holdings Posts Mixed Earnings as TPG and BGH Lodge Rival Takeover Bids
Aug 27, 2026
EQT Holdings reported revenue, other income and interest from ordinary activities of $166.97 million for the year to 30 June 2026, up 9.4% on the prior year, while profit attributable to ordinary equity holders fell 20.5% to $26.42 million. The co...
EQT Holdings receives conditional takeover approach from BGH Capital
Aug 20, 2026
EQT Holdings Ltd has received an unsolicited, indicative and non‑binding takeover proposal from private equity firm BGH Capital to acquire all outstanding shares via a scheme of arrangement at an indicative cash price of A$24.75 per share, a...
EQT Holdings Reschedules FY26 Results Release to 27 August
Aug 19, 2026
EQT Holdings Ltd., trading as Equity Trustees, is a specialist Australian trustee and wealth management group established in 1888 to provide independent trustee and executor services that protect family wealth. The company offers asset management,...
EQT Holdings Relocates Registered Office to New Melbourne CBD Address
Aug 17, 2026
EQT Holdings Limited has relocated its registered office and principal place of business for all group companies to Level 22, 530 Collins Street in Melbourne, effective immediately, while keeping all other contact details unchanged. The move conso...
EQT Holdings schedules investor webinar for full-year 2026 results
Aug 5, 2026
EQT Holdings Ltd., which operates under the Equity Trustees brand as a specialist trustee and executor services provider, serves individuals, families and corporate clients across Australia through a broad range of wealth-protection and fiduciary ...
EQT Holdings Seeks ASX Quotation for New Employee Incentive Shares
Aug 3, 2026
EQT Holdings Limited has sought quotation on the ASX for 698 new ordinary fully paid shares, issued on 27 July 2026 under an employee incentive scheme. The application, lodged as a new announcement on 3 August 2026, confirms the securities are to ...
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.