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Magellan Financial Group Ltd
(Sydney:MFG)
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Rating:71Outperform
Price Target:
AU$8.50
â–¼(-11.27% Downside)
Action:Reiterated
Date:08/28/26
The score is driven primarily by strong financial resilience (very conservative balance sheet and generally good cash conversion) despite meaningful revenue and profitability deterioration. Valuation is supported by a very high dividend yield, while technicals remain a headwind with the stock below key short- and medium-term moving averages.
Positive Factors
Conservative balance sheet
Magellan’s near-zero leverage and stable equity base provide substantial financial flexibility. This reduces solvency and refinancing pressure, allowing the company to withstand weaker operating conditions and continue funding its investment-management platform without relying heavily on external capital.
Negative Factors
Persistent revenue contraction
Five consecutive years of revenue decline point to a persistent deterioration in the earnings base rather than a single temporary setback. Continued contraction can weaken operating leverage, reduce the resources available for investment, and make future growth increasingly dependent on reversing the trend.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Magellan’s near-zero leverage and stable equity base provide substantial financial flexibility. This reduces solvency and refinancing pressure, allowing the company to withstand weaker operating conditions and continue funding its investment-management platform without relying heavily on external capital.
Read all positive factors
Magellan Financial Group Ltd (MFG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.19B
Dividend Yield8.67%
Average Volume (3M)1.10M
Price to Earnings (P/E)15.4
Beta (1Y)0.68
Revenue Growth-17.31%
EPS Growth-45.44%
CountryAU
Employees113
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.50
Shares Outstanding292,607,900
10 Day Avg. Volume1,254,771
30 Day Avg. Volume1,098,085
Financial Highlights & Ratios
PEG Ratio-0.42
Price to Book (P/B)1.60
Price to Sales (P/S)8.19
P/FCF Ratio13.26
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$8.62Price Target Upside-10.00% Downside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)0.57
Revenue Forecast (FY)AU$737.33M
Magellan Financial Group Ltd Business Overview & Revenue Model
Company Description
Magellan Financial Group Limited operates as a publicly traded investment management firm. Its core strategy involves deploying capital into global equity markets and listed infrastructure assets across the world. The company was established in 20...
How the Company Makes Money
Magellan primarily makes money by charging fees for managing client assets. The main revenue stream is management fees, typically calculated as a percentage of funds under management (FUM/AUM) and accrued over time; as AUM rises or falls with net ...
Magellan Financial Group Ltd Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
90
Very Positive
Cash Flow
75
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 206.78M | 313.54M | 348.67M | 381.15M | 669.43M |
| Gross Profit | 178.71M | 313.27M | 275.90M | 332.18M | 639.05M |
| EBITDA | 113.55M | 236.18M | 270.83M | 273.99M | 443.75M |
| Net Income | 87.92M | 165.02M | 238.76M | 182.66M | 383.01M |
Balance Sheet | |||||
| Total Assets | 1.14B | 1.09B | 1.09B | 1.20B | 1.24B |
| Cash, Cash Equivalents and Short-Term Investments | 351.96M | 170.15M | 322.57M | 375.11M | 421.57M |
| Total Debt | 2.02M | 5.11M | 7.61M | 10.17M | 12.55M |
| Total Liabilities | 81.39M | 90.50M | 69.72M | 236.47M | 214.64M |
| Stockholders Equity | 1.06B | 1.00B | 1.02B | 962.50M | 1.03B |
Cash Flow | |||||
| Free Cash Flow | 127.78M | 153.07M | 46.93M | 186.47M | 434.37M |
| Operating Cash Flow | 127.98M | 153.40M | 47.38M | 186.58M | 434.63M |
| Investing Cash Flow | 87.18M | -122.13M | 81.23M | 16.47M | 134.75M |
| Financing Cash Flow | -34.30M | -185.48M | -179.54M | -250.61M | -364.94M |
Magellan Financial Group Ltd Technical Analysis
Negative
9.58
Price Trends
8.63
Negative
9.18
Negative
9.03
Negative
Market Momentum
-0.25
Positive
33.88
Neutral
17.02
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MFG, the sentiment is Negative. The current price of 9.58 is above the 20-day moving average (MA) of 8.19, above the 50-day MA of 8.63, and above the 200-day MA of 9.03, indicating a bearish trend. The MACD of -0.25 indicates Positive momentum. The RSI at 33.88 is Neutral, neither overbought nor oversold. The STOCH value of 17.02 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MFG.
Magellan Financial Group Ltd Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$2.19B | 15.38 | 8.75% | 8.67% | -17.31% | -45.44% | |
69 Neutral | AU$2.78B | 18.00 | 49.77% | 2.74% | 586.06% | 463.96% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | AU$3.32B | 18.72 | 16.92% | 4.18% | 22.38% | 22.74% | |
63 Neutral | AU$1.99B | 21.97 | 5.64% | 7.08% | -16.00% | ― | |
53 Neutral | AU$5.88B | 32.86 | 5.08% | 2.04% | -4.68% | 4.33% |
* Financial Sector Average
AU:MFG
Magellan Financial Group Ltd
7.70
-1.55
-16.75%
AU:AMP
AMP
2.46
0.74
43.36%
AU:PPT
Perpetual Limited
17.12
-0.83
-4.64%
AU:L1G
Platinum Asset Management Ltd
1.13
0.12
11.94%
AU:PNI
Pinnacle Investment Management Group Limited
14.61
-4.80
-24.72%
Magellan Financial Group Ltd Corporate Events
Barrenjoey files final director interest notice as John Eales exits board
Oct 28, 2026
Former director John Eales has ceased to be a director of Barrenjoey Group Limited effective 22 October 2026, with the company lodging a final director’s interest notice with the ASX. The filing details his remaining holdings in Magellan Fin...
Magellan Financial Group Rebrands as Barrenjoey Group, Changes ASX Ticker to BJY
Oct 26, 2026
Magellan Financial Group Ltd, a diversified Australian financial services group with operations in Australia, New Zealand, Hong Kong, the UAE, the UK and the U.S., has formally rebranded as Barrenjoey Group Limited following shareholder approval. ...
Magellan Financial Group Consolidates Company Secretary Role After Resignation
Oct 22, 2026
Magellan Financial Group Ltd has announced the resignation of joint company secretary Sam Mosse, effective immediately, reflecting a change in its senior governance structure. The diversified financial services group confirmed that existing compan...
Magellan Shareholders Back Board Slate and Rebrand to Barrenjoey Group
Oct 22, 2026
Magellan Financial Group Ltd has reported that all resolutions put to shareholders at its 2026 Annual General Meeting were approved by the requisite majority, including the adoption of the remuneration report and the election or re-election of eig...
Magellan-Barrenjoey Merger Drives Rebrand and Diversified Growth Strategy
Oct 21, 2026
Magellan Financial Group Ltd, a diversified Australian financial services company with operations across multiple global financial centres, now spans financial markets, corporate finance and investment management. The group, historically known as ...
Magellan Financial Group Reports Lapse of Conditional Equity Securities
Oct 14, 2026
Magellan Financial Group has notified the market of the cessation of several classes of equity-linked securities, including matching awards, employee equity grants, long-term incentive plan units and options, after the underlying conditions were n...
Magellan Financial Group exits substantial holding in Chimeric Therapeutics
Oct 8, 2026
Magellan Financial Group Ltd and its related entities have notified Chimeric Therapeutics Limited that they have ceased to be a substantial holder in the company as of 2 October 2026. The change, formally lodged under Australia’s Corporation...
Magellan exits substantial shareholder position in Premier Investments
Oct 6, 2026
Magellan Financial Group Ltd and its related entities have notified Premier Investments Limited that they have ceased to be substantial shareholders as of 30 September 2026. The change, lodged under Australia’s Corporations Act, indicates th...
Magellan Director Increases Shareholding Through Equity Plan Vesting
Sep 23, 2026
Magellan Financial Group has reported a change in the holdings of director Andrew Formica following the vesting of equity plan awards. Formica’s interest in the company now totals 71,060 ordinary fully paid shares, alongside existing units i...
Magellan Issues New Shares Following Conversion of Unquoted Securities
Sep 23, 2026
Magellan Financial Group Limited has issued 29,180 new ordinary fully paid shares following the exercise or conversion of previously unquoted securities. The issuance, effective 20 September 2026 and disclosed via an Appendix 3G, modestly increase...
Magellan Sets October AGM to Vote on Barrenjoey Rebrand
Sep 21, 2026
Magellan Financial Group Ltd has released its 2026 Annual General Meeting materials, including the notice of meeting, voting and proxy forms, and shareholder access information, which are now available via its website. The AGM will be held on 22 O...
Magellan Financial Group Issues Voluntary Climate Report for 2026
Aug 26, 2026
Magellan Financial Group has released a voluntary Climate Report for the year ended 30 June 2026, outlining its approach to climate-related issues across governance, strategy, risk management, and metrics and targets. The report signals the compan...
Magellan Sets Out FY26 Investor Report for Combined Group With Barrenjoey
Aug 26, 2026
Magellan Financial Group Ltd, listed on the ASX as MFG, operates in the asset management and broader financial services industry. Through its association and merger activity with Barrenjoey, it is expanding its footprint across capital markets, ad...
Magellan Sets Agenda for FY26 Results and FY27 Strategic Focus
Aug 26, 2026
Magellan Financial Group has outlined the agenda for its full-year financial results presentation for the year ended 30 June 2026. The briefing will cover a group update on the relationship between Magellan and Barrenjoey, detailed FY26 financial ...
Magellan Declares Interim Dividend of AUD 0.255 Per Share
Aug 26, 2026
Magellan Financial Group Ltd has declared an interim dividend of AUD 0.255 per ordinary fully paid share, covering the six-month period to 30 June 2026. The stock will trade ex-dividend on 1 September, with a record date of 2 September and payment...
Magellan Profit Slumps but Maintains Dividend as It Fully Acquires Barrenjoey
Aug 26, 2026
Magellan Financial Group has reported a sharp decline in its statutory results for the year to 30 June 2026, with total revenue down 39 per cent to $195.6 million and net profit after tax falling 47 per cent to $87.9 million. The weaker statutory ...
Magellan Director’s Holdings Adjusted After Airlie Small Companies Fund Closure
Aug 26, 2026
Magellan Financial Group has reported a change in director Andrew Formica’s relevant interests following the termination of the Airlie Small Companies Fund. The fund, part of Magellan’s Airlie-branded offering, ceased with effect from ...
Magellan releases financial templates ahead of Barrenjoey merger consolidation
Aug 9, 2026
Magellan Financial Group has released detailed financial templates ahead of its full-year 2026 results, reflecting the completion of its merger with Barrenjoey Capital Partners on 1 July 2026 and its evolving ownership stake. For FY26, Magellan wi...
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.