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Netwealth Group Ltd.
(Sydney:NWL)
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Rating:58Neutral
Price Target:
AU$23.00
â–²(3.51% Upside)
Action:Reiterated
Date:08/27/26
The score is held up by strong multi-year growth and historically high profitability, but is reduced by the 2026 step-down in earnings and cash flow alongside higher leverage. Weak technical trends and a very high P/E further weigh on the overall assessment.
Positive Factors
Sustained Revenue Growth
The multi-year revenue increase indicates continued platform adoption and expanding client or adviser activity. Growth remained positive in 2026 despite weaker profitability, supporting Netwealth’s longer-term ability to scale its administration franchise.
Negative Factors
Sharp Earnings Reset
The substantial decline in net income and margin shows that revenue growth has not translated consistently into earnings. Whether caused by higher costs, non-operating effects or mix changes, the reset raises uncertainty about the durability of prior profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
The multi-year revenue increase indicates continued platform adoption and expanding client or adviser activity. Growth remained positive in 2026 despite weaker profitability, supporting Netwealth’s longer-term ability to scale its administration franchise.
Read all positive factors
Netwealth Group Ltd. (NWL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$5.00B
Dividend Yield2.04%
Average Volume (3M)603.11K
Price to Earnings (P/E)81.1
Beta (1Y)2.31
Revenue Growth21.01%
EPS Growth-48.10%
CountryAU
Employees790
SectorTechnology
Sector Strength88
IndustryAsset Management
Share Statistics
EPS (TTM)0.25
Shares Outstanding245,471,180
10 Day Avg. Volume848,192
30 Day Avg. Volume603,106
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$27.81Price Target Upside25.15% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
EPS Forecast (FY)0.58
Revenue Forecast (FY)AU$449.32M
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 fees linked to funds under administration (FUA) on its platform. The main revenue stream is recurring platform and administration fees calculated as a percentage of the value of client assets administere...
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
22.59
Negative
22.49
Negative
23.52
Negative
Market Momentum
-0.65
Positive
32.02
Neutral
14.21
Positive
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 below the 20-day moving average (MA) of 22.46, below the 50-day MA of 22.59, and below the 200-day MA of 23.52, indicating a bearish trend. The MACD of -0.65 indicates Positive momentum. The RSI at 32.02 is Neutral, neither overbought nor oversold. The STOCH value of 14.21 is Positive, 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | AU$23.03B | 27.06 | 27.34% | 3.04% | 0.11% | -2.37% | |
73 Outperform | AU$1.42B | 12.78 | 107.14% | 4.44% | -9.72% | 51.09% | |
71 Outperform | AU$627.22M | 16.82 | 33.67% | 4.22% | 6.59% | 4.49% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | AU$1.04B | 11.34 | 22.13% | 4.79% | -14.44% | 5.34% | |
60 Neutral | AU$302.23M | 44.93 | 5.79% | 4.13% | 7.20% | -51.06% | |
58 Neutral | AU$5.00B | 81.12 | 38.95% | 2.10% | 21.01% | -48.10% |
* Technology Sector Average
AU:NWL
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Netwealth Group Ltd. Corporate Events
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.