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Platinum Asset Management Ltd
(Sydney:L1G)
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Rating:69Neutral
Price Target:
AU$1.50
▲(38.89% Upside)
Action:Reiterated
Date:08/19/26
The score is primarily driven by strong financial strength (low leverage and strong 2026 cash generation) and a constructive technical setup with price above key moving averages. The main drag is valuation risk, as the P/E is extremely high even after accounting for the very large dividend yield.
Positive Factors
Conservative Balance Sheet
Very low leverage and expanded equity provide financial flexibility, reduce balance-sheet risk, and support resilience through weaker markets. This capital strength can help Platinum maintain operations and invest in distribution without relying heavily on external funding.
Negative Factors
FUM and Market Dependence
Because management fees are tied to funds under management, prolonged market declines, redemptions, or weaker investment performance can reduce revenue. This exposes earnings to client behaviour and external markets that management cannot fully control.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage and expanded equity provide financial flexibility, reduce balance-sheet risk, and support resilience through weaker markets. This capital strength can help Platinum maintain operations and invest in distribution without relying heavily on external funding.
Read all positive factors
Platinum Asset Management Ltd (L1G) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.97B
Dividend Yield2.52%
Average Volume (3M)2.93M
Price to Earnings (P/E)19.0
Beta (1Y)1.25
Revenue Growth586.06%
EPS Growth463.96%
CountryAU
Employees5
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.06
Shares Outstanding2,566,551,500
10 Day Avg. Volume2,330,737
30 Day Avg. Volume2,925,107
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)3.22
Price to Sales (P/S)2.75
P/FCF Ratio6.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.30Price Target Upside20.37% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.05
Revenue Forecast (FY)AU$308.71M
Platinum Asset Management Ltd Business Overview & Revenue Model
Company Description
L1 Group Ltd. operates as a fund manager, which engages in investing in global equities. It manages a diverse suite of strategies across long/short equities, global and regional equities, real assets and alternative investments. L1 Group clients i...
How the Company Makes Money
Platinum Asset Management primarily makes money by charging fees for managing client assets. Its core revenue stream is management fees calculated as a percentage of funds under management (FUM) across its investment products (e.g., managed funds ...
Platinum Asset Management Ltd Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
90
Very Positive
Cash Flow
88
Very Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 934.98M | 140.92M | 185.13M | 211.09M | 232.77M |
| Gross Profit | 910.58M | 54.35M | 106.50M | 202.61M | 244.98M |
| EBITDA | 781.64M | 34.20M | 77.28M | 117.36M | 167.68M |
| Net Income | 145.24M | 6.27M | 45.01M | 80.86M | 101.49M |
Balance Sheet | |||||
| Total Assets | 1.17B | 249.39M | 346.21M | 354.25M | 352.61M |
| Cash, Cash Equivalents and Short-Term Investments | 181.78M | 122.25M | 250.28M | 186.06M | 177.32M |
| Total Debt | 16.73M | 10.64M | 12.35M | 3.25M | 5.25M |
| Total Liabilities | 194.21M | 37.54M | 29.41M | 24.72M | 29.05M |
| Stockholders Equity | 798.07M | 211.78M | 314.23M | 328.17M | 323.55M |
Cash Flow | |||||
| Free Cash Flow | 379.42M | 50.19M | 78.08M | 90.23M | 126.51M |
| Operating Cash Flow | 383.10M | 51.49M | 68.56M | 90.59M | 126.73M |
| Investing Cash Flow | -141.22M | 53.71M | 51.60M | -171.00K | -42.44M |
| Financing Cash Flow | -74.24M | -153.21M | -85.55M | -92.06M | -140.20M |
Platinum Asset Management Ltd Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | AU$3.56B | 5.56 | 101.77% | 16.87% | -4.25% | -5.70% | |
71 Outperform | AU$2.60B | 17.74 | 8.75% | 7.14% | -17.31% | -45.44% | |
71 Outperform | AU$2.22B | 23.47 | 5.64% | 6.61% | -16.00% | ― | |
70 Outperform | AU$3.42B | 18.19 | 16.92% | 4.06% | 22.38% | 22.74% | |
69 Neutral | AU$2.97B | 19.04 | 49.77% | 2.52% | 586.06% | 463.96% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
AU:L1G
Platinum Asset Management Ltd
1.19
0.52
78.14%
AU:MFG
Magellan Financial Group Ltd
9.10
-0.51
-5.33%
AU:PPT
Perpetual Limited
19.09
0.23
1.19%
AU:PNI
Pinnacle Investment Management Group Limited
14.77
-3.19
-17.77%
AU:GQG
GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh
1.23
-0.27
-18.28%
Platinum Asset Management Ltd Corporate Events
L1 Group Posts FY26 Results and Updates Corporate Governance Disclosures
Aug 16, 2026
L1 Group Limited has released its annual financial package for the year ended 30 June 2026, including its FY26 annual report, full-year results announcement, results presentation and notification of dividend or distribution. The disclosures provid...
L1 Group Posts FY26 Results and Confirms Dividend for Shareholders
Aug 16, 2026
L1 Group Limited has released its FY26 annual financial results, including the Appendix 4E, the full FY26 Annual Report, and a dedicated ASX results announcement. The package also comprises a FY26 Results Presentation and updated corporate governa...
L1 Group delivers surging FY26 profits and margins on higher fees, lower costs
Aug 16, 2026
L1 Group Limited has reported a strong improvement in its financial performance for the year ended 30 June 2026, with total revenue and other income rising sharply to A$963.1 million and profit from ordinary activities after tax increasing to A$54...
L1 Group Launches PXC Advisors in Joint Venture With Dr Andrew Lin
Aug 13, 2026
L1 Group Limited has launched PXC Advisors, a specialist global long short investment manager formed as a 50/50 joint venture with portfolio manager and former L1 Capital investor, Dr Andrew Lin. The new venture will run the PXC Advisors Dynamic R...
L1 Group reshapes legal leadership with new company secretary
Jul 21, 2026
L1 Group Limited has appointed Olivia Byron as Company Secretary and Head of Corporate Legal, effective 21 July 2026, with responsibility for ASX communications under Listing Rule 12.6. Byron brings experience from Acusensus Limited, Transurban Gr...
L1 Group lifts FUM to $19.1bn as performance fees surge and integration costs loom
Jul 14, 2026
L1 Group Limited reported that funds under management rose 12.4% in the June 2026 quarter to $19.1 billion, reflecting a sharp recovery in investment performance after March’s volatility linked to the Iran conflict. Growth was driven by the ...
L1 Group Issues New Unquoted Deferred Rights Under Employee Scheme
Jul 2, 2026
L1 Group Limited has notified the market of the issue of 226,623 unquoted deferred rights under its employee incentive scheme. The new securities, which are not intended to be quoted on the ASX, were issued on 22 April 2026 and reflect the company...
L1 Group boosts equity base with conversion of unquoted securities
Jun 29, 2026
L1 Group Limited has notified the ASX of the issue of 512,278 ordinary fully paid shares following the conversion or exercise of previously unquoted securities. The new shares were issued on 22 June 2026, increasing the company’s quoted equi...
L1 Group Names Former FleetPartners Executive as New CFO After Merger Integration
Jun 8, 2026
L1 Group Limited has appointed James Allaway as its new Chief Financial Officer, succeeding long-serving finance executive Andrew Stannard. Allaway, who brings experience as Chief Strategy Officer at FleetPartners and as a senior investment banker...
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.