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Magellan Financial Group Ltd
(Sydney:MFG)
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Rating:71Outperform
Price Target:
AU$10.50
▲(9.60% Upside)
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
Minimal leverage and stable equity provide substantial financial flexibility, reduce solvency risk and support resilience through periods of weaker funds under management, profitability or client flows.
Negative Factors
Persistent Revenue Decline
A prolonged revenue contraction indicates sustained pressure on funds under management, client flows or fee income. Continued top-line weakness could reduce operating leverage and limit the recovery of earnings over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Minimal leverage and stable equity provide substantial financial flexibility, reduce solvency risk and support resilience through periods of weaker funds under management, profitability or client flows.
Read all positive factors
Magellan Financial Group Ltd (MFG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.62B
Dividend Yield7.47%
Average Volume (3M)722.04K
Price to Earnings (P/E)17.3
Beta (1Y)0.75
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. Volume1,062,581
30 Day Avg. Volume722,040
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$9.16Price Target Upside-4.38% Downside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)0.6
Revenue Forecast (FY)AU$775.16M
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
9.81
Negative
9.37
Negative
9.13
Negative
Market Momentum
-0.18
Positive
33.02
Neutral
-1.38
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 below the 20-day moving average (MA) of 10.03, below the 50-day MA of 9.81, and above the 200-day MA of 9.13, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 33.02 is Neutral, neither overbought nor oversold. The STOCH value of -1.38 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$2.62B | 17.30 | 8.75% | 5.99% | -17.31% | -45.44% | |
71 Outperform | AU$2.19B | 24.06 | 5.64% | 6.01% | -16.00% | ― | |
70 Outperform | AU$3.86B | 18.54 | 16.92% | 3.60% | 22.38% | 22.74% | |
69 Neutral | AU$3.35B | 20.00 | 49.77% | 0.92% | 586.06% | 463.96% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
53 Neutral | AU$5.78B | 32.60 | 5.08% | 1.87% | -4.68% | 4.33% |
* Financial Sector Average
AU:MFG
Magellan Financial Group Ltd
8.70
-0.93
-9.67%
AU:AMP
AMP
2.46
0.84
51.95%
AU:PPT
Perpetual Limited
19.19
>-0.01
-0.03%
AU:L1G
Platinum Asset Management Ltd
1.30
0.57
77.60%
AU:PNI
Pinnacle Investment Management Group Limited
15.16
-4.26
-21.92%
Magellan Financial Group Ltd Corporate Events
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...
State Street Group exits as substantial holder in Magellan Financial Group
Jul 15, 2026
Magellan Financial Group Ltd has disclosed that State Street Corporation and several of its global asset management subsidiaries have ceased to be substantial holders in the company as at 13 July 2026. The notice, lodged under section 671B of the ...
Magellan Reports Lapse of Employee Equity and Incentive Securities
Jul 10, 2026
Magellan Financial Group Ltd has notified the ASX of the cessation of certain employee-related securities, following the lapse of conditional rights that could no longer be satisfied. The move affects an employee equity grant and a long-term incen...
Magellan Discloses Final Director Interest as Rahmani Exits Board
Jul 1, 2026
Magellan Financial Group Ltd has notified the ASX that director Sophia Rahmani ceased to be a director effective 1 July 2026, with the final notice outlining her remaining interests in the company’s securities. The filing details RahmaniR...
Magellan Financial Group Appoints Paul Compton to Board
Jul 1, 2026
Magellan Financial Group Ltd has appointed Paul H. Compton as a director effective 1 July 2026, as disclosed in an initial director’s interest notice lodged with the ASX. The filing indicates that Compton currently holds no relevant interest...
Magellan Adds Former RBA Governor Philip Lowe to Board
Jul 1, 2026
Magellan Financial Group Ltd has appointed former Reserve Bank governor Philip William Lowe as a director effective 1 July 2026, adding a high-profile figure to its board. Lowe holds a beneficial interest in 29,584 fully paid ordinary shares in Ma...
Magellan Names Kelly O’Dwyer to Board, Discloses Indirect Shareholding
Jul 1, 2026
Magellan Financial Group Ltd has appointed Kelly Megan O’Dwyer as a director effective 1 July 2026, formally notifying the ASX in line with disclosure obligations. O’Dwyer holds an indirect interest in 17,751 fully paid ordinary Magell...
Magellan Appoints Fiona Hick as Director, Discloses Indirect Shareholding
Jul 1, 2026
Magellan Financial Group Ltd has appointed Fiona Alison Hick to its board as a director, effective 1 July 2026, marking a further refresh of its governance structure. Hick holds an indirect interest in 17,751 fully paid ordinary Magellan shares th...
Oryxium Loses Substantial Holder Status After Magellan–Barrenjoey Merger
Jul 1, 2026
Magellan Financial Group Limited has disclosed that Oryxium Pty Limited, a trust for the benefit of members of the Lowy family, has ceased to be a substantial holder in the company following the completion of its merger with Barrenjoey. The change...
Magellan admits late disclosure of director’s ETF unit sale
Jun 22, 2026
Magellan Financial Group has reported a change in director Andrew Formica’s interests following the on-market sale of 21,739 units in the Magellan Global Opportunities Fund Active ETF on 20 May 2026. The transaction involved units sold at $1...
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.