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FleetPartners Group
(Sydney:FPR)
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Rating:68Neutral
Price Target:
AU$5.50
▲(34.15% Upside)
Action:Reiterated
Date:10/20/26
The score is primarily held back by financial risk factors—high leverage (debt-to-equity 2.89) and negative operating/free cash flows—despite solid operating margins and revenue growth. Technicals add support through a strong uptrend and positive MACD, but overbought RSI/Stoch readings introduce near-term risk. Valuation is reasonably attractive with a moderate P/E and ~5% dividend yield.
Positive Factors
Strong Operating Margins
The improved gross margin and robust EBIT and EBITDA margins indicate efficient operations and meaningful earnings conversion before financing and tax. This profitability provides capacity to support investment, absorb moderate cost pressure, and sustain service delivery across the vehicle lifecycle.
Negative Factors
High Financial Leverage
A debt-to-equity ratio of 2.89 leaves FleetPartners materially exposed to financing conditions and limits balance-sheet flexibility. Higher leverage can constrain investment choices, increase sensitivity to funding costs, and make the business less resilient if operating performance weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Operating Margins
The improved gross margin and robust EBIT and EBITDA margins indicate efficient operations and meaningful earnings conversion before financing and tax. This profitability provides capacity to support investment, absorb moderate cost pressure, and sustain service delivery across the vehicle lifecycle.
Read all positive factors
FleetPartners Group (FPR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.04B
Dividend Yield4.98%
Average Volume (3M)942.50K
Price to Earnings (P/E)14.6
Beta (1Y)1.01
Revenue Growth3.96%
EPS Growth9.82%
CountryAU
Employees242
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)0.35
Shares Outstanding212,056,030
10 Day Avg. Volume1,217,118
30 Day Avg. Volume942,504
Financial Highlights & Ratios
PEG Ratio1.36
Price to Book (P/B)1.03
Price to Sales (P/S)0.82
P/FCF Ratio-7.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$4.94Price Target Upside20.43% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.37
Revenue Forecast (FY)AU$759.03M
FleetPartners Group Business Overview & Revenue Model
Company Description
FleetPartners Group Limited is a specialist provider of fleet management solutions, operating throughout Australia and New Zealand. The company structures its operations across three primary divisions: Australia Commercial, Novated, and New Zealan...
How the Company Makes Money
FleetPartners makes money primarily by financing and managing vehicles over multi-year terms and charging customers for those services across the vehicle lifecycle. Key revenue streams typically include: (1) Vehicle leasing/financing income: Fleet...
FleetPartners Group Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
60
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 801.72M | 786.23M | 761.63M | 676.77M | 423.49M | 431.67M |
| Gross Profit | 23.39M | 91.00M | 222.39M | 223.37M | 251.16M | 35.13M |
| EBITDA | 444.76M | 436.21M | 323.49M | 364.30M | 116.00M | 306.36M |
| Net Income | 77.84M | 75.33M | 77.88M | 81.02M | 103.32M | 75.95M |
Balance Sheet | ||||||
| Total Assets | 2.77B | 2.73B | 2.53B | 2.25B | 2.03B | 2.00B |
| Cash, Cash Equivalents and Short-Term Investments | 281.42M | 308.56M | 91.30M | 247.09M | 238.23M | 226.95M |
| Total Debt | 1.82B | 1.83B | 1.66B | 1.38B | 1.20B | 1.24B |
| Total Liabilities | 2.11B | 2.10B | 1.91B | 1.61B | 1.41B | 1.42B |
| Stockholders Equity | 653.75M | 632.29M | 622.93M | 635.68M | 620.64M | 575.68M |
Cash Flow | ||||||
| Free Cash Flow | -43.07M | -85.21M | -186.42M | -76.39M | -154.85M | 122.48M |
| Operating Cash Flow | -34.23M | -72.49M | -167.87M | -56.84M | 327.26M | 396.92M |
| Investing Cash Flow | -36.50M | -12.71M | -18.55M | -19.55M | -229.13M | -192.57M |
| Financing Cash Flow | 103.68M | 123.17M | 214.22M | 80.93M | -80.90M | -187.50M |
FleetPartners Group Technical Analysis
Positive
4.10
Price Trends
4.53
Positive
3.79
Positive
3.16
Positive
Market Momentum
0.18
Negative
80.29
Negative
95.59
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FPR, the sentiment is Positive. The current price of 4.1 is below the 20-day moving average (MA) of 4.80, below the 50-day MA of 4.53, and above the 200-day MA of 3.16, indicating a bullish trend. The MACD of 0.18 indicates Negative momentum. The RSI at 80.29 is Negative, neither overbought nor oversold. The STOCH value of 95.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:FPR.
FleetPartners Group Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | AU$1.68B | 18.74 | 29.94% | 4.52% | 10.49% | 5.31% | |
71 Outperform | AU$658.15M | 8.62 | 9.91% | 4.00% | 0.95% | 1.92% | |
68 Neutral | AU$1.04B | 14.63 | 12.11% | 4.98% | 3.96% | 9.82% | |
61 Neutral | AU$1.09B | 17.39 | 6.66% | 4.50% | 8.77% | 16.48% | |
59 Neutral | AU$1.38B | 12.93 | 88.76% | 6.67% | 7.71% | 11.40% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | AU$1.16B | 9.65 | 14.45% | 1.95% | 34.24% | 1.87% |
* General Sector Average
AU:FPR
FleetPartners Group
5.12
2.47
93.50%
AU:EHL
Emeco Holdings Limited
1.29
0.07
5.76%
AU:MMS
Mcmillan Shakespeare Limited
19.79
3.75
23.42%
AU:SIQ
Smartgroup Corporation Ltd
12.18
4.65
61.69%
AU:MGH
MAAS Group Holdings Ltd.
3.57
-0.95
-21.07%
AU:KLS
Kelsian Group Limited
4.00
-0.66
-14.22%
FleetPartners Group Corporate Events
FleetPartners backs $1.13bn takeover by SG Fleet
Oct 19, 2026
FleetPartners Group Limited has agreed to be acquired by SG Fleet Management under a scheme of arrangement that will see SG Fleet purchase 100% of FleetPartners’ shares for $5.30 in cash per share, valuing the equity at about $1.131 billion....
FleetPartners Cancels 1.58 Million Shares in On-Market Buy-Back
Oct 8, 2026
FleetPartners Group Limited has cancelled 1,575,924 ordinary fully paid shares as part of an on-market share buy-back, effective 31 July 2026. The reduction in issued capital signals the company’s continued use of capital management initiati...
FleetPartners issues 90,169 new shares on conversion of unquoted securities
Oct 6, 2026
FleetPartners Group Limited has notified the market of the issue of 90,169 ordinary fully paid shares, following the exercise or conversion of previously unquoted securities. The new shares, issued on 27 July 2026, modestly increase the company...
Perpetual Exits Substantial Holder Position in FleetPartners Group
Sep 16, 2026
Perpetual Limited and its related entities have notified FleetPartners Group Limited that they have ceased to be a substantial holder in the company as of 14 September 2026. The change reflects adjustments in Perpetual’s relevant interests i...
FleetPartners Secures Court Approval for Insured Class Action Settlement
Sep 15, 2026
FleetPartners Group Limited, a listed Australian fleet management and vehicle leasing specialist, provides financing and services for corporate and individual customers across the country. The company operates within the wider financial services a...
FleetPartners Advances Takeover Talks with Three Bidders After Revised Offers
Sep 13, 2026
FleetPartners has received three revised, indicative and non‑binding conditional proposals to acquire all its outstanding shares via a scheme of arrangement, following an initial due diligence phase. SG Fleet has indicated an offer of $4.55 ...
FleetPartners Grants Limited Due Diligence Access to Potential Bidders
Aug 13, 2026
FleetPartners Group has confirmed it has received indicative, non-binding and conditional proposals from SG Fleet, Element Fleet Management and ORIX to acquire all its outstanding shares via a scheme of arrangement. After evaluating the approaches...
FleetPartners Weighs Competing Takeover Approaches After Rejecting Exclusivity
Aug 11, 2026
FleetPartners has rejected a request from Element Fleet Management for a three-week exclusivity period tied to an indicative takeover proposal that could have valued the company at up to $4.00 per share, citing its assessment of the offer and shar...
FleetPartners Receives Conditional Takeover Approach From SG Fleet
Aug 2, 2026
FleetPartners Group Limited, a listed Australian fleet management and vehicle leasing provider operating across Australia and New Zealand, focuses on long-term corporate and government contracts and recurring revenue from its leasing platforms. Th...
FleetPartners Reports Daily Progress on ASX On‑Market Share Buy‑Back
Aug 2, 2026
FleetPartners Group Limited, an ASX-listed vehicle leasing and fleet management specialist, offers financing and comprehensive fleet services to corporate and institutional clients. Its ordinary fully paid shares trade under the code FPR, reflecti...
FleetPartners Updates ASX on Ongoing On-Market Share Buy-Back
Jul 31, 2026
FleetPartners Group Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for ordinary fully paid shares.The company reports that it has repurchased a cumulative total of 3,713,754 shares be...
FleetPartners Reports Daily Progress on On-Market Share Buy-Back
Jul 29, 2026
FleetPartners Group Limited has issued an updated notification to the ASX confirming ongoing on-market share buy-backs of its ordinary fully paid shares under the previously announced program. The latest daily filing reports that a cumulative 3,65...
FleetPartners Updates Daily On-Market Share Buy-Back Activity
Jul 28, 2026
FleetPartners Group Limited operates in the financial and automotive services sector, focusing on fleet management and related vehicle services for corporate and institutional clients. Its ordinary fully paid shares trade on the ASX under the tick...
FleetPartners Continues On-Market Share Buy-Back Program
Jul 27, 2026
FleetPartners Group Limited has continued to execute its on-market share buy-back program, reporting a cumulative total of 3,485,185 ordinary shares repurchased prior to the latest trading day. The company disclosed that a further 101,838 shares w...
FleetPartners Updates Market on Ongoing Share Buy-Back Activity
Jul 26, 2026
FleetPartners Group Limited has continued its on-market share buy-back program, reporting that a total of 3,458,994 ordinary fully paid shares had been repurchased before the previous trading day. The company bought back an additional 26,191 share...
FleetPartners Continues On-Market Share Buy-Back Program
Jul 23, 2026
FleetPartners Group Limited has provided an update on its ongoing on-market share buy-back program, confirming the latest daily activity in its ordinary fully paid shares listed under the ASX code FPR. The company reported that a total of 3,389,13...
FleetPartners prices A$400m ABS with certified green EV tranche
Jul 21, 2026
FleetPartners Group has completed its tenth Australian asset-backed securitisation, the FP Turbo Series 2026-1 Trust, a A$400 million transaction backed by operating, finance and novated lease receivables. The deal, which priced earlier in July an...
FleetPartners Continues Daily On-Market Share Buy-Back
Jul 21, 2026
FleetPartners Group Limited has issued an updated notification to the ASX confirming the ongoing execution of its on-market share buy-back program for ordinary fully paid shares under code FPR. The announcement, dated 22 July 2026, reports that th...
FleetPartners Continues On-Market Share Buy-Back Program
Jul 21, 2026
FleetPartners Group Limited has continued its on-market share buy-back program, reporting that a cumulative total of 3,241,161 ordinary fully paid shares had been repurchased prior to the latest trading day. The company bought back an additional 3...
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.