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Tyro Payments Ltd.
(Sydney:TYR)
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Rating:56Neutral
Price Target:
AU$0.86
▲(14.00% Upside)
Action:Reiterated
Date:08/26/26
The score is held back primarily by financial performance quality concerns—especially the sharp 2026 reversal to negative operating and free cash flow despite positive earnings—alongside mixed-to-weak technical signals (below key moving averages and a sub-50 RSI). These are partially offset by a generally moderate valuation (P/E ~16.7) and a supportive earnings-call outlook with positive FY’27 gross profit and EBITDA margin guidance, albeit with acknowledged regulatory and macro risks.
Positive Factors
Banking Expansion
Rapid growth in accounts, deposits and lending broadens Tyro’s revenue base beyond acquiring. Banking adoption can deepen merchant relationships, increase product penetration and support more recurring financial-services income over the next several years.
Negative Factors
Weak Cash Flow Quality
The sharp reversal from positive cash generation to negative operating and free cash flow raises questions about earnings conversion, working-capital needs and funding requirements. If persistent, it could constrain investment capacity and weaken the quality of reported profits.
Read all positive and negative factors
Positive Factors
Negative Factors
Banking Expansion
Rapid growth in accounts, deposits and lending broadens Tyro’s revenue base beyond acquiring. Banking adoption can deepen merchant relationships, increase product penetration and support more recurring financial-services income over the next several years.
Read all positive factors
Tyro Payments Ltd. (TYR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$394.02M
Dividend YieldN/A
Average Volume (3M)1.53M
Price to Earnings (P/E)18.2
Beta (1Y)1.34
Revenue Growth0.78%
EPS Growth19.76%
CountryAU
Employees577
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.04
Shares Outstanding532,454,200
10 Day Avg. Volume2,769,785
30 Day Avg. Volume1,525,133
Financial Highlights & Ratios
PEG Ratio0.99
Price to Book (P/B)1.65
Price to Sales (P/S)0.84
P/FCF Ratio-6.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.97Price Target Upside28.80% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)0.05
Revenue Forecast (FY)AU$503.92M
Tyro Payments Ltd. Business Overview & Revenue Model
Company Description
Tyro Payments Limited, an Australian company founded in Sydney in 2003, delivers a comprehensive array of payment and banking services to businesses nationwide. The firm operates through distinct Payments and Banking divisions. Its offerings inclu...
How the Company Makes Money
Tyro primarily makes money by enabling merchants to accept card payments and charging fees associated with processing those transactions. Its key revenue streams typically include: (1) merchant service fees (a percentage and/or fixed fee per trans...
Tyro Payments Ltd. Earnings Call Summary
Earnings Call Date:Aug 24, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Mar 01, 2027
Earnings Call Sentiment Positive
The call conveyed a predominantly positive outlook: Tyro reported stronger earnings, materially higher free cash flow, improved operating efficiency, and clear momentum in banking and health verticals. Management acknowledged regulatory changes (card surcharging removal), macroeconomic pressures on SMEs, and near-term moderation in Health due to bulk-billing changes, but has incorporated these factors into guidance and emphasized a strong capital position and a pathway to commercialize investments in FY '27.Positive Updates
Revenue and Profitability Improvement
Gross profit grew 5.3% to $231.8M; EBITDA increased 8.6% to $66.9M with an expanded EBITDA margin of 28.9%; normalized profit before tax rose 40% to $24.7M.
Negative Updates
Macroeconomic Headwinds and SME Closures
Management highlighted a challenging macroeconomic backdrop for consumers and SMEs with elevated business closures among small businesses, constraining merchant dynamics.
Read all updates
Q4-2026 Updates
Positive
Negative
Revenue and Profitability Improvement
Gross profit grew 5.3% to $231.8M; EBITDA increased 8.6% to $66.9M with an expanded EBITDA margin of 28.9%; normalized profit before tax rose 40% to $24.7M.
Read all positive updates
Company Guidance
Tyro guided FY ’27 normalized gross profit of $240–$255m and a normalized EBITDA margin of 28.5%–30.5%, reflecting expectations for continued payments growth (core TTV +4.4% in FY ’26, total TTV $44.3bn) and banking adoption, after FY ’26 results of gross profit $231.8m (+5.3%), EBITDA $66.9m (+8.6%) and free cash flow $29.4m (up 49.5%) with 44% FCF conversion and a 28.9% EBITDA margin; management flagged active bank accounts up 34.6% to >14,500, customer deposits +27.3% to $118.9m, loan originations +19.4% to $187.8m (loan balances +33%), and said FY ’27 guidance prudently incorporates the impact of the October removal of card surcharging/interchange changes, a cautious macro outlook, planned increased investment behind Health/Banking/Enterprise/E‑commerce, and the expectation Health growth will re‑accelerate as the bulk‑billing effects are lapped from November.Tyro Payments Ltd. Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
76
Positive
Cash Flow
38
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 489.38M | 472.94M | 497.71M | 437.50M | 325.52M |
| Gross Profit | 149.85M | 217.35M | 225.87M | 162.00M | 118.81M |
| EBITDA | 66.33M | 67.20M | 68.20M | 37.92M | 8.14M |
| Net Income | 21.32M | 17.82M | 25.70M | 6.01M | -29.62M |
Balance Sheet | |||||
| Total Assets | 482.75M | 547.56M | 451.46M | 431.04M | 410.09M |
| Cash, Cash Equivalents and Short-Term Investments | 139.47M | 191.93M | 85.48M | 58.05M | 47.36M |
| Total Debt | 24.86M | 28.05M | 31.54M | 33.56M | 33.99M |
| Total Liabilities | 234.16M | 320.74M | 243.78M | 253.35M | 250.49M |
| Stockholders Equity | 248.59M | 226.82M | 207.67M | 177.68M | 159.60M |
Cash Flow | |||||
| Free Cash Flow | -67.29M | 127.07M | 35.52M | 10.15M | -33.38M |
| Operating Cash Flow | -66.03M | 138.13M | 48.79M | 25.23M | -9.02M |
| Investing Cash Flow | -72.99M | 7.04M | -40.62M | -27.76M | -48.35M |
| Financing Cash Flow | 17.36M | -6.59M | -2.97M | 8.88M | 9.37M |
Tyro Payments Ltd. Technical Analysis
Negative
0.75
Price Trends
0.83
Negative
0.81
Negative
0.87
Negative
Market Momentum
-0.03
Positive
33.72
Neutral
19.05
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:TYR, the sentiment is Negative. The current price of 0.75 is below the 20-day moving average (MA) of 0.83, below the 50-day MA of 0.83, and below the 200-day MA of 0.87, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 33.72 is Neutral, neither overbought nor oversold. The STOCH value of 19.05 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:TYR.
Tyro Payments Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$69.04B | 145.19 | 1.62% | ― | 0.28% | -87.63% | |
65 Neutral | AU$94.50M | 11.34 | 17.63% | ― | 26.00% | 18.73% | |
64 Neutral | AU$31.96M | 0.84 | 265.43% | 102.41% | -24.21% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | AU$394.02M | 18.23 | 8.60% | ― | 0.78% | 19.76% | |
45 Neutral | AU$16.00M | -2.25 | -1243.96% | ― | 3.35% | 7.62% |
* Technology Sector Average
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Tyro Payments Ltd. Corporate Events
Tyro Elevates CEO Nigel Lee to Managing Director as It Targets Next Growth Phase
Aug 25, 2026
Tyro Payments has appointed Chief Executive Officer Nigel Lee as Managing Director and a member of its board, effective 31 August 2026, with no change to his existing remuneration or contract terms. Chair Fiona Pak-Poy said the move recognises Lee...
Tyro Payments Sets Out 2026 Corporate Governance Framework
Aug 24, 2026
Tyro Payments Limited has released its 2026 Corporate Governance Statement outlining its approach to board structure, management oversight and ethical conduct across the organisation. The document emphasises responsible remuneration, risk manageme...
Tyro Payments outlines FY26 results with detailed investor disclaimers
Aug 24, 2026
Tyro Payments Ltd released its FY26 full year results investor presentation on 25 August 2026, offering a high-level overview of its financial and operational performance. The document is intended as a summary and is designed to be read alongside ...
Tyro boosts earnings and cash flow as it sets confident FY27 guidance
Aug 24, 2026
Tyro reported FY26 gross profit of $231.8 million, up 5.3%, and EBITDA of $66.9 million, an 8.6% rise, with normalised profit before tax jumping 40% and free cash flow up nearly 50%. Growth was supported by stronger merchant retention, expansion i...
Tyro Payments Seeks ASX Quotation for Additional Ordinary Shares
Aug 20, 2026
Tyro Payments Ltd., an ASX-listed Australian fintech focused on electronic payment services for merchants, continues to expand its presence in the domestic financial services market.The company has applied for quotation of 6,969 new ordinary fully...
Tyro Payments Seeks ASX Quotation for Additional Shares Following Option Conversion
Jul 22, 2026
Tyro Payments Ltd. is an Australian financial technology company that operates in the payments sector, providing electronic payment and merchant acquiring services. Listed on the ASX under the ticker TYR, it focuses on offering card payment soluti...
Tyro Payments Issues New Shares Following Option Conversions
Jul 22, 2026
Tyro Payments Limited has notified the market of the issue of 9,647 ordinary fully paid shares following the conversion or exercise of previously unquoted options or other convertible securities. The new shares, issued on 20 July 2026, marginally ...
Tyro Payments Issues New Shares on Conversion of Unquoted Securities
Jul 14, 2026
Tyro Payments Limited has notified the market of the issue of additional ordinary fully paid shares following the conversion or exercise of previously unquoted securities. The newly issued shares, totaling 440,585 across several transaction dates ...
Tyro Issues New Unquoted Performance Rights Under Employee Scheme
Jul 14, 2026
Tyro Payments has notified the market of the issue of 58,824 unquoted performance rights under its employee incentive scheme. The rights, which are not intended to be quoted on the ASX, were issued on 29 June 2026, underscoring the company’s...
Tyro Payments Expands Quoted Share Capital Through Option Conversions
Jul 14, 2026
Tyro Payments Ltd. has lodged an application with the ASX for quotation of several tranches of new ordinary fully paid shares. The securities, issued on multiple dates between April and July 2026 and now totaling more than one million shares, aris...
Tyro Director Aliza Knox Increases Shareholding in Payments Fintech
Jul 3, 2026
Tyro Payments Limited disclosed a change in Director Aliza Knox’s interests in the company’s securities, filing an Appendix 3Y with the ASX in line with listing requirements. The notice records Knox’s purchase of 12,000 fully pai...
Tyro Updates Market on Director Steven Holmes’s Shareholding
Jun 17, 2026
Tyro Payments Limited has disclosed a change in director Steven Holmes’s interests, filing an Appendix 3Y that records an indirect acquisition of 130,935 fully paid ordinary shares. The shares, valued at $110,000 and held on his behalf by Sh...
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.