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Netwealth Group Ltd.
(Sydney:NWL)
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Rating:56Neutral
Price Target:
AU$17.00
â–¼(-23.49% Downside)
Action:Reiterated
Date:10/17/26
The score is held up by solid long-term financial strength and growth, but is weighed down by the 2026 profitability and cash flow decline alongside higher leverage. Technical indicators add further pressure (price below key moving averages and negative MACD), and valuation is a notable headwind due to the high P/E despite a moderate dividend yield.
Positive Factors
Long-term revenue growth
The multi-year revenue increase indicates sustained expansion in Netwealth’s platform business and adviser-client adoption. Continued top-line growth can enlarge the fee base tied to funds under administration, support investment in platform capabilities, and provide a durable foundation for future earnings.
Negative Factors
Sharp 2026 profit decline
The 2026 earnings reset materially weakens near-term profitability and raises questions about the sustainability of the prior earnings base. A lower net margin leaves less cash available for growth investment and distributions, while the scale of the decline increases execution risk over the next several reporting periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-term revenue growth
The multi-year revenue increase indicates sustained expansion in Netwealth’s platform business and adviser-client adoption. Continued top-line growth can enlarge the fee base tied to funds under administration, support investment in platform capabilities, and provide a durable foundation for future earnings.
Read all positive factors
Netwealth Group Ltd. (NWL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$4.42B
Dividend Yield2.33%
Average Volume (3M)812.46K
Price to Earnings (P/E)72.4
Beta (1Y)2.25
Revenue Growth21.01%
EPS Growth-48.10%
CountryAU
Employees790
SectorTechnology
Sector Strength88
IndustryAsset Management
Share Statistics
EPS (TTM)0.25
Shares Outstanding245,789,440
10 Day Avg. Volume820,633
30 Day Avg. Volume812,463
Financial Highlights & Ratios
PEG Ratio-1.72
Price to Book (P/B)31.15
Price to Sales (P/S)13.17
P/FCF Ratio89.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$23.66Price Target Upside6.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)0.56
Revenue Forecast (FY)AU$444.82M
Netwealth Group Ltd. Business Overview & Revenue Model
Company Description
Netwealth Group Limited is an Australian financial services provider specializing in wealth management. The company offers a comprehensive suite of products and services, including superannuation, a range of managed investment solutions like manag...
How the Company Makes Money
Netwealth primarily makes money by charging platform administration fees linked to assets held on its platform (commonly referred to as funds under administration, or FUA). As client portfolios grow through market movements and net inflows, the fe...
Netwealth Group Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
58
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 382.90M | 312.30M | 255.25M | 207.01M | 172.86M |
| Gross Profit | 228.56M | 312.30M | 164.98M | 118.89M | 98.32M |
| EBITDA | 184.69M | 162.88M | 129.51M | 100.29M | 84.09M |
| Net Income | 60.65M | 116.52M | 83.37M | 67.15M | 55.55M |
Balance Sheet | |||||
| Total Assets | 276.28M | 257.32M | 189.49M | 161.88M | 136.20M |
| Cash, Cash Equivalents and Short-Term Investments | 173.73M | 173.04M | 127.36M | 109.97M | 89.46M |
| Total Debt | 70.41M | 13.50M | 14.91M | 13.59M | 15.09M |
| Total Liabilities | 114.39M | 58.18M | 44.97M | 38.84M | 31.96M |
| Stockholders Equity | 161.89M | 199.14M | 144.52M | 123.05M | 104.24M |
Cash Flow | |||||
| Free Cash Flow | 56.23M | 118.94M | 85.07M | 73.58M | 56.61M |
| Operating Cash Flow | 57.95M | 126.84M | 89.98M | 79.23M | 59.60M |
| Investing Cash Flow | -13.45M | -39.50M | -5.11M | -4.99M | -3.69M |
| Financing Cash Flow | -43.62M | -65.51M | -67.68M | -53.13M | -48.95M |
Netwealth Group Ltd. Technical Analysis
Negative
22.22
Price Trends
18.50
Negative
20.41
Negative
21.66
Negative
Market Momentum
-0.23
Negative
55.07
Neutral
88.99
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NWL, the sentiment is Negative. The current price of 22.22 is above the 20-day moving average (MA) of 17.02, above the 50-day MA of 18.50, and above the 200-day MA of 21.66, indicating a neutral trend. The MACD of -0.23 indicates Negative momentum. The RSI at 55.07 is Neutral, neither overbought nor oversold. The STOCH value of 88.99 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:NWL.
Netwealth Group Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$1.52B | 13.64 | 107.14% | 4.15% | -9.72% | 51.09% | |
71 Outperform | AU$625.43M | 16.46 | 33.67% | 3.98% | 6.59% | 4.49% | |
69 Neutral | AU$24.63B | 28.60 | 27.34% | 2.82% | 0.11% | -2.37% | |
64 Neutral | AU$272.98M | 41.67 | 5.79% | 4.46% | 7.20% | -51.06% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | AU$1.04B | 11.29 | 22.13% | 4.80% | -14.44% | 5.34% | |
56 Neutral | AU$4.42B | 72.40 | 38.95% | 2.33% | 21.01% | -48.10% |
* Technology Sector Average
AU:NWL
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Netwealth Group Ltd. Corporate Events
Netwealth issues new performance rights under employee incentive scheme
Oct 13, 2026
Netwealth Group Ltd., an Australian wealth management and investment platform provider listed on the ASX under code NWL, continues to leverage technology-driven services for financial advisers and investors. Its business model centers on offering ...
Netwealth Director Sarah Brennan Lifts Indirect Shareholding via On-Market Purchase
Oct 1, 2026
Netwealth Group Ltd., an Australian wealth management and investment platform provider, offers administration, custodial and superannuation-focused investment services to financial advisers and individual investors. Its business centers on enablin...
Netwealth Director Kate Temby Increases Indirect Shareholding
Oct 1, 2026
Netwealth Group Ltd. has disclosed a change in director Kate Temby’s indirect interest in the company’s ordinary shares, reflecting an on-market purchase executed via the Netwealth Wrap Service under The Temby Superannuation Fund. Foll...
Netwealth Faces Class Action Over First Guardian Investment Options
Sep 24, 2026
Netwealth Group Ltd.’s subsidiaries, Netwealth Investments Limited and Netwealth Superannuation Services Pty Ltd, have been served with a class action Statement of Claim linked to certain First Guardian investment options offered through the...
Netwealth Faces Potential Class Action Over First Guardian Super Options
Sep 20, 2026
Netwealth Group Limited has disclosed that two of its subsidiaries, Netwealth Investments Limited and Netwealth Superannuation Services Pty Ltd, have received a letter from lawyers for a proposed representative plaintiff, together with draft court...
Netwealth to List New Shares Issued Under Employee Incentive Plan
Sep 16, 2026
Netwealth Group Ltd. has applied to the ASX for quotation of 17,296 new ordinary fully paid shares. The securities, issued under an employee incentive scheme, are scheduled to be quoted from 17 September 2026, modestly increasing the company’...
Netwealth Group seeks ASX quotation for small share issuance
Sep 16, 2026
Netwealth Group Ltd. has applied to the ASX for quotation of 1,938 new ordinary fully paid shares, to be issued on 17 September 2026. The small share issuance arises from the conversion or exercise of existing options or other convertible securiti...
Netwealth to Acquire Paradino to Expand Advice Capacity
Sep 14, 2026
Netwealth Group Ltd. has announced plans to acquire Paradino as part of its strategy to expand its ability to deliver financial advice solutions. The acquisition is positioned as a move to unlock additional capacity within its platform and advisor...
Netwealth to acquire AI advice automation firm Paradino in strategic tech push
Sep 14, 2026
Netwealth Group Limited has agreed to acquire 100% of Scale Up Platform Solutions Pty Ltd, trading as Paradino, an Australian AI-enabled advice workflow and automation platform serving more than 500 financial advisers. Paradino’s Athena AI-d...
Netwealth Reports Lapse of 42,807 Performance Rights, Trimming Potential Dilution
Sep 9, 2026
Netwealth Group Ltd. has reported the lapse of a total of 42,807 performance rights, which are conditional equity-based instruments granted to participants under its incentive arrangements. These rights, identified under ASX security code NWLAD, c...
Netwealth Seeks ASX Quotation for Additional Ordinary Shares
Sep 4, 2026
Netwealth Group Ltd., the ASX‑listed wealth management platform provider, has lodged an application for quotation of new ordinary fully paid shares, expanding its listed capital base. The company continues to strengthen its presence in the A...
Netwealth Seeks ASX Quotation for Additional Ordinary Shares
Sep 2, 2026
Netwealth Group Ltd. has lodged an application with the ASX for the quotation of 74,469 new ordinary fully paid shares. The securities, issued on 3 September 2026 following the exercise of options or conversion of other securities, will modestly i...
Netwealth Releases FY2026 Corporate Sustainability Report
Aug 25, 2026
Netwealth has released its Corporate Sustainability Report for the 2026 financial year, covering the period from 1 July 2025 to 30 June 2026 and authorised by the company’s Board. The report forms part of Netwealth’s broader FY2026 rep...
Netwealth files 2026 corporate governance statement with ASX
Aug 25, 2026
Netwealth Group Limited has lodged its corporate governance statement and Appendix 4G with the ASX for the financial year ended 30 June 2026, confirming compliance with Listing Rules on governance disclosure. The statement is available both in the...
Netwealth declares interim dividend of AUD 0.21 per share
Aug 25, 2026
Netwealth Group Ltd. has declared a new interim dividend of AUD 0.21 per ordinary fully paid share for the six-month period ended 30 June 2026. The distribution will be paid on 29 September 2026, with an ex-dividend date of 9 September 2026 and a ...
Netwealth outlines disclaimers around FY26 results presentation
Aug 25, 2026
Netwealth Group Ltd. has released its FY26 results presentation, emphasising that the document is for general informational purposes only and should not be relied upon as investment advice. The company stresses that investors must consider their o...
Netwealth posts record FY26 results and expands platform reach
Aug 25, 2026
Netwealth reported a strong FY26, with total income rising 20.6% to $391.1 million, EBITDA up 18% to $192.9 million and NPAT increasing 16.2% to $135.4 million, all excluding First Guardian-related expenses. The group also delivered record funds u...
Netwealth Embeds Indigenous Acknowledgement in 2026 Annual Report
Aug 25, 2026
Netwealth Group Ltd. has issued its annual report for the financial year ended 30 June 2026, accompanied by a formal Acknowledgement of Country that recognises the Traditional Owners of the lands where its offices are located. The statement highli...
Netwealth secures court-backed ASIC deal and pays $101m to First Guardian victims
Aug 20, 2026
Netwealth Group Ltd has secured Federal Court endorsement of its agreement with ASIC to compensate members of the Netwealth Superannuation Master Fund who lost money in the collapse of the First Guardian Master Fund. The company, through its trust...
Netwealth details internal control of shares and confirms zero economic exposure
Aug 4, 2026
Netwealth Group Ltd has disclosed that, as at 31 July 2026, it and its controlled entities can exercise voting and disposal control over 1,596,822 of its ordinary shares, representing 0.65% of the company’s total voting and overall share cap...
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.