Want to see AU:PPT full AI Analyst Report?
Top Page
Perpetual Limited
(Sydney:PPT)
Select Model
Select Model
Rating:63Neutral
Price Target:
AU$17.50
▲(6.25% Upside)
Action:Downgraded
Date:09/22/26
The score is primarily supported by improving financial performance, especially strong and growing free cash flow and a return to profitability alongside improving leverage. Offsetting this, the stock’s technical trend is weak with the price below key moving averages, and valuation is only moderate given a relatively high P/E despite an attractive dividend yield.
Positive Factors
Strong cash generation
Robust operating and free cash flow provide internally generated funding for investment, distributions, and debt reduction. Free cash flow at roughly 94% of net income also indicates that reported profitability is supported by cash conversion rather than mainly accounting gains.
Negative Factors
Revenue contraction
Persistent top-line contraction would directly pressure fee income because the business earns largely from investment management and fiduciary services. Weaker revenue momentum can constrain reinvestment, reduce operating leverage, and make the recent return to profitability harder to sustain.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Robust operating and free cash flow provide internally generated funding for investment, distributions, and debt reduction. Free cash flow at roughly 94% of net income also indicates that reported profitability is supported by cash conversion rather than mainly accounting gains.
Read all positive factors
Perpetual Limited (PPT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.00B
Dividend Yield7.04%
Average Volume (3M)519.77K
Price to Earnings (P/E)21.9
Beta (1Y)1.47
Revenue Growth-16.00%
EPS GrowthN/A
CountryAU
Employees1,764
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.79
Shares Outstanding115,800,804
10 Day Avg. Volume390,493
30 Day Avg. Volume519,771
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)1.14
Price to Sales (P/S)1.52
P/FCF Ratio6.85
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$20.10Price Target Upside22.04% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)1.55
Revenue Forecast (FY)AU$1.19B
Perpetual Limited Business Overview & Revenue Model
Company Description
Established in 1886, Perpetual Limited (PPT.AX) operates as a publicly traded investment management firm, delivering a comprehensive suite of financial solutions across Australia. Its core offerings encompass fund and portfolio management, financi...
How the Company Makes Money
Perpetual primarily makes money from fee-based financial services. The core revenue stream is investment management fees earned on funds under management (FUM), typically comprising (1) ongoing base management fees calculated as a percentage of FU...
Perpetual Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
66
Positive
Cash Flow
82
Very Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.15B | 23.10M | 1.30B | 995.60M | 773.50M |
| Gross Profit | 858.70M | -47.90M | 1.14B | 878.80M | 711.40M |
| EBITDA | 161.60M | 140.30M | 281.60M | 217.10M | 199.20M |
| Net Income | 88.90M | -58.20M | -472.20M | 59.00M | 101.20M |
Balance Sheet | |||||
| Total Assets | 3.28B | 3.42B | 3.40B | 3.94B | 1.75B |
| Cash, Cash Equivalents and Short-Term Investments | 567.10M | 343.20M | 221.30M | 427.10M | 361.70M |
| Total Debt | 740.60M | 1.13B | 833.70M | 825.30M | 330.70M |
| Total Liabilities | 1.72B | 1.77B | 1.66B | 1.57B | 820.70M |
| Stockholders Equity | 1.54B | 1.65B | 1.74B | 2.37B | 925.80M |
Cash Flow | |||||
| Free Cash Flow | 256.50M | 196.40M | 264.60M | 109.40M | 155.80M |
| Operating Cash Flow | 272.30M | 217.10M | 296.40M | 134.80M | 170.80M |
| Investing Cash Flow | -23.20M | 17.40M | -97.90M | -244.00M | -69.20M |
| Financing Cash Flow | -251.80M | -129.20M | -229.30M | 221.60M | -66.60M |
Perpetual Limited Technical Analysis
Neutral
16.47
Price Trends
18.10
Negative
17.44
Negative
16.88
Positive
Market Momentum
-0.33
Negative
46.92
Neutral
76.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PPT, the sentiment is Neutral. The current price of 16.47 is below the 20-day moving average (MA) of 17.41, below the 50-day MA of 18.10, and below the 200-day MA of 16.88, indicating a neutral trend. The MACD of -0.33 indicates Negative momentum. The RSI at 46.92 is Neutral, neither overbought nor oversold. The STOCH value of 76.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:PPT.
Perpetual Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$2.50B | 17.12 | 8.75% | 7.59% | -17.31% | -45.44% | |
69 Neutral | AU$3.01B | 18.96 | 49.77% | 2.53% | 586.06% | 463.96% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | AU$3.24B | 17.73 | 16.92% | 4.28% | 22.38% | 22.74% | |
63 Neutral | AU$2.00B | 21.92 | 5.64% | 7.04% | -16.00% | ― | |
53 Neutral | AU$5.88B | 32.66 | 5.08% | 2.05% | -4.68% | 4.33% |
* Financial Sector Average
AU:PPT
Perpetual Limited
17.25
-1.26
-6.82%
AU:AMP
AMP
2.49
0.85
51.55%
AU:MFG
Magellan Financial Group Ltd
8.55
-0.81
-8.66%
AU:L1G
Platinum Asset Management Ltd
1.19
0.13
12.43%
AU:PNI
Pinnacle Investment Management Group Limited
14.35
-3.01
-17.36%
Perpetual Limited Corporate Events
Perpetual Rejects EQT’s Final Takeover Bid and Ends Talks
Sep 20, 2026
Perpetual Limited has rejected a further revised, best-and-final cash takeover proposal from EQT-controlled Windflower Pte. Limited, which offered $22.50 per share and allowed for a potential half-year dividend without reducing the offer price. Th...
Perpetual exits substantial holder position in FleetPartners Group
Sep 16, 2026
Perpetual Limited and its related bodies corporate have disclosed to FleetPartners Group Limited that they ceased to be a substantial holder in the vehicle leasing and fleet management company on 14 September 2026, following changes in their relev...
Perpetual Limited Reports Cessation of Performance Rights
Sep 7, 2026
Perpetual Limited has notified the market of the cessation of 108,281 performance rights, recorded under the ASX security code PPTAA. The rights ceased effective 1 September 2026, reflecting an adjustment to the company’s issued capital and ...
Perpetual Ceases to Be Substantial Holder in Iress Limited
Sep 2, 2026
Perpetual Limited and its related bodies corporate have notified Iress Limited that they have ceased to be a substantial holder in the ASX-listed financial technology company. The change, effective 31 August 2026, reflects a reduction in Perpetual...
Perpetual clarifies cash-only interim dividend for June 2026 period
Sep 1, 2026
Perpetual Limited has updated its notification to the market regarding an interim dividend for the six months to 30 June 2026 on its ordinary fully paid shares. The company confirmed key dates for the distribution, including an ex-dividend date of...
Perpetual Releases Comprehensive FY26 Results and Governance Statement
Aug 26, 2026
Perpetual Limited has released its full-year FY26 financial results, lodging a suite of documents with the ASX including its Appendix 4E, statutory accounts, results presentation and operating and financial review. The company also published its F...
Perpetual lodges FY26 results and updates ASX governance disclosures
Aug 26, 2026
Perpetual Limited, a Sydney-headquartered Australian financial services group, offers investment management, wealth advisory and trustee services to a broad base of retail, institutional and corporate clients. The company emphasises robust corpora...
Perpetual Files Comprehensive FY26 Results and Governance Reports
Aug 26, 2026
Perpetual Limited has released its financial results for the year ended 30 June 2026, lodging a suite of documents with the ASX. These include its full-year statutory accounts, results presentation, operating and financial review, and corporate go...
Perpetual lifts FY26 profit, beats cost-saving targets and cuts debt
Aug 26, 2026
Perpetual Limited is an Australia-based diversified financial services provider with core operations in asset management, corporate trust and wealth management. It serves institutional and retail clients through investment management, fiduciary an...
Perpetual lifts FY26 profit and maintains strong dividends despite negative NTAs
Aug 26, 2026
Perpetual Limited has released its financial results for the year ended 30 June 2026, reporting net profit after tax attributable to equity holders of $88.9 million, a 253% increase on the prior year. Underlying net profit after tax excluding sign...
Perpetual Declares AUD 0.63 Interim Dividend for June 2026 Half-Year
Aug 26, 2026
Perpetual Limited has declared a fully franked interim dividend of AUD 0.63 per ordinary share for the six-month period ended 30 June 2026, reinforcing its commitment to returning capital to investors. The ex-dividend date is set for 10 September ...
Perpetual Flags A$63.5m Non-Cash Impairment After Major TSW Client Redemption
Aug 20, 2026
Perpetual Limited has announced it will recognise a non-cash impairment charge of A$63.5 million against the goodwill of its asset management subsidiary Thompson, Siegel Walmsley LLC. The decision follows notification from a major TSW client inte...
Perpetual Exits Substantial Holder Position in oOh!media
Aug 12, 2026
Perpetual Limited has notified oOh!media Limited that it has ceased to be a substantial holder in the outdoor advertising group as of 10 August 2026. The change reflects adjustments in Perpetual’s relevant interests and voting securities in ...
Perpetual Takes 5% Substantial Stake in A2 Milk
Aug 10, 2026
Perpetual Limited and its subsidiaries have disclosed that they have begun a substantial holding in The a2 Milk Company, accumulating 36,644,120 ordinary shares. This stake represents 5.051% of a2 Milk’s issued ordinary shares, making Perpet...
Perpetual Exits Substantial Holder Position in Premier Investments
Aug 10, 2026
Perpetual Limited has lodged a notice stating it has ceased to be a substantial holder in Premier Investments Limited, effective 6 August 2026. The filing updates an earlier substantial holding notice from late July and confirms changes in Perpetu...
Perpetual Ceases to Be Substantial Holder in Qantas Airways
Jul 29, 2026
Perpetual Limited and its related bodies corporate have notified Qantas Airways Limited that they have ceased to be a substantial holder in the airline as of 27 July 2026. The change reflects adjustments in Perpetual’s relevant interests in ...
Perpetual Rejects EQT’s Revised Bid but Opens Door to Talks
Jul 29, 2026
Perpetual Limited has rejected a further revised, non-binding and indicative takeover proposal from EQT’s affiliate Windflower Pte. Limited to acquire all of its shares via a scheme of arrangement at A$22.50 per share, concluding the offer i...
Perpetual posts solid Q4 growth as it reshapes portfolio and boosts digital trust capabilities
Jul 28, 2026
Perpetual Limited reported solid growth across all business divisions in its fourth quarter FY26 update, with Corporate Trust delivering another quarter of funds under administration growth driven by strong issuance in Debt Market Services, positi...
Perpetual weighs higher EQT takeover proposal amid strategic reshaping
Jul 26, 2026
Perpetual Limited has received a further revised, non-binding and conditional proposal from EQT-controlled Windflower Pte. Limited to acquire all its shares via a scheme of arrangement at A$22.50 per share. The latest approach represents a modest ...
Perpetual Weighs Higher EQT Takeover Proposal Amid Strategy Push
Jul 15, 2026
Perpetual Limited has received a revised, non-binding and conditional proposal from Windflower Pte. Limited, an EQT AB-controlled entity, to acquire all its shares via a scheme of arrangement at A$22.07 per share, a modest 2% increase on the earli...
Perpetual sets date for full-year 2026 results webcast
Jul 6, 2026
Perpetual Limited, listed on the ASX as PPT, is a global financial services firm operating multi-boutique asset management, wealth management and trustee services businesses. It owns asset management brands including Perpetual, Pendal, Barrow Hanl...
Perpetual Limited Updates Market on Cessation of Performance Rights
Jul 3, 2026
Perpetual Limited, the ASX-listed financial services firm known for its wealth management and asset management offerings, has reported a change to its issued capital structure. The company routinely updates the market on movements in its securitie...
Perpetual rejects EQT-linked takeover approach as undervaluing company
Jul 1, 2026
Perpetual Limited has rejected an unsolicited, non-binding and highly conditional proposal from Windflower Pte Limited, an entity understood to be indirectly controlled by EQT AB, to acquire all its shares via a scheme of arrangement. The offer, w...
Perpetual Seeks Trading Halt Amid Potential Change-of-Control Bid
Jul 1, 2026
Perpetual Limited has requested a trading halt on its fully paid ordinary shares on the ASX, after receiving an approach related to a potential change of control transaction. The halt will remain in place until the company releases a further annou...
Perpetual Seeks ASX Quotation for New Employee Incentive Shares
Jun 29, 2026
Perpetual Limited has applied for quotation on the ASX of 40,000 new ordinary fully paid shares issued on June 25, 2026. The securities were created under an employee incentive scheme and will trade under the existing PPT code, expanding the compa...
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.