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WAM Alternative Assets Ltd
(Sydney:WMA)
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Rating:63Neutral
Price Target:
AU$1.00
â–²(2.04% Upside)
Action:Reiterated
Date:09/06/26
The score is primarily held back by recent sustained negative operating and free cash flow despite strong reported profitability and a zero-debt balance sheet. Valuation is supportive due to the high dividend yield and a moderate P/E, while technical indicators show slightly negative/soft momentum rather than a clear uptrend.
Positive Factors
Debt-free balance sheet
A debt-free balance sheet reduces interest and refinancing pressure, giving WMA greater flexibility through market cycles. The substantial, stable equity base also supports portfolio resilience and allows management to withstand periods of weaker investment performance without excessive financial strain.
Negative Factors
Sustained negative cash generation
Recent negative operating and free cash flow weakens the quality and self-funding capacity of reported earnings. If the pattern persists, WMA may have less internally generated cash available for portfolio investment and distributions, increasing execution pressure despite its debt-free balance sheet.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free balance sheet reduces interest and refinancing pressure, giving WMA greater flexibility through market cycles. The substantial, stable equity base also supports portfolio resilience and allows management to withstand periods of weaker investment performance without excessive financial strain.
Read all positive factors
WAM Alternative Assets Ltd (WMA) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$192.51M
Dividend Yield6.15%
Average Volume (3M)137.97K
Price to Earnings (P/E)17.2
Beta (1Y)0.13
Revenue Growth68.27%
EPS Growth78.62%
CountryAU
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.04
Shares Outstanding197,446,800
10 Day Avg. Volume122,243
30 Day Avg. Volume137,970
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)0.83
Price to Sales (P/S)9.44
P/FCF Ratio-7.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
WAM Alternative Assets Ltd Business Overview & Revenue Model
Company Description
A listed investment company that provides retail investors with exposure to a portfolio of real assets, private equity, infrastructure, real estate and private debt strategies. The company's investment objectives are to deliver absolute returns th...
How the Company Makes Money
WMA makes money primarily from investment returns generated by its portfolio of alternative assets. These returns typically come from (i) income and distributions received from underlying investments (for example, interest, coupons, rental-style i...
WAM Alternative Assets Ltd Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
34
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.19M | 20.03M | 11.45M | 11.77M | 15.14M | 26.81M |
| Gross Profit | 13.00M | 17.65M | 11.45M | 9.36M | 14.45M | 25.38M |
| EBITDA | 11.10M | 16.60M | 8.31M | 7.93M | 11.71M | 23.22M |
| Net Income | 8.08M | 11.19M | 6.23M | 6.34M | 9.48M | 18.05M |
Balance Sheet | ||||||
| Total Assets | 270.20M | 235.44M | 274.92M | 277.67M | 291.48M | 301.31M |
| Cash, Cash Equivalents and Short-Term Investments | 282.83K | 4.04M | 39.81M | 61.03M | 78.45M | 298.76M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 42.23M | 8.22M | 47.97M | 47.25M | 58.09M | 69.39M |
| Stockholders Equity | 227.97M | 227.22M | 226.96M | 230.42M | 233.39M | 231.92M |
Cash Flow | ||||||
| Free Cash Flow | -39.96M | -24.84M | -11.53M | -8.11M | 21.53M | 20.58M |
| Operating Cash Flow | -39.96M | -24.84M | -11.53M | -8.11M | 21.53M | 20.58M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | -10.38M | -10.93M | -9.69M | -9.31M | -8.02M | -7.14M |
WAM Alternative Assets Ltd Technical Analysis
Negative
0.98
Price Trends
0.99
Negative
0.98
Negative
0.98
Positive
Market Momentum
>-0.01
Positive
46.57
Neutral
22.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WMA, the sentiment is Negative. The current price of 0.98 is below the 20-day moving average (MA) of 0.99, below the 50-day MA of 0.99, and above the 200-day MA of 0.98, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.57 is Neutral, neither overbought nor oversold. The STOCH value of 22.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:WMA.
WAM Alternative Assets Ltd Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$2.04B | 11.18 | 8.92% | 7.22% | 125.29% | 151.28% | |
69 Neutral | AU$206.24M | 16.22 | 5.38% | 5.46% | 13.71% | 10.49% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | AU$192.51M | 17.17 | 4.92% | 6.15% | 68.27% | 78.62% | |
59 Neutral | AU$379.81M | -2,675.18 | -0.04% | 7.89% | -95.35% | -99.87% | |
54 Neutral | AU$1.40B | -11.32 | -7.37% | 12.56% | -145.54% | -156.29% | |
52 Neutral | AU$182.74M | -6.42 | -14.16% | 11.44% | -181.06% | -195.83% |
* Financial Sector Average
AU:WMA
WAM Alternative Assets Ltd
0.98
<0.01
0.62%
AU:WAM
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1.23
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-23.70%
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1.15
0.07
6.12%
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1.35
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-10.77%
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WAM Alternative Assets Ltd Corporate Events
WAM Alternative Assets Schedules FY2026 Results Q&A Webinar
Sep 2, 2026
WAM Alternative Assets Ltd will hold a FY2026 full-year results QA webinar on Wednesday 9 September 2026 at 11:00am Sydney time. Portfolio manager Nick Kelly and investment analyst Jacob Grover will brief shareholders on the performance and positi...
WAM Alternative Assets boosts profit and dividends on strong portfolio gains
Aug 28, 2026
WAM Alternative Assets reported a 9.1% investment portfolio return for the year to 30 June 2026, with performance since Wilson Asset Management’s appointment in 2020 averaging 8.9% per annum. The portfolio delivered these gains with signific...
WAM Alternative Assets Delivers Strong Profit Growth and Maintains Dividend Payouts
Aug 28, 2026
WAM Alternative Assets reported a sharp uplift in performance for the year to 30 June 2026, with revenue from ordinary activities rising 68.3% to $20.0 million and pre-tax profit nearly doubling, up 99.8% to $16.6 million. Net profit after tax adv...
WAM Alternative Assets Declares Six-Month Dividend for June 2026 Period
Aug 28, 2026
WAM Alternative Assets Ltd has declared a six-month dividend of AUD 0.03 per ordinary share for the period ending 30 June 2026, reinforcing its income-focused proposition for shareholders. The stock will trade ex-dividend on 16 November 2026, with...
WAM Alternative Assets details governance framework for 2026
Aug 28, 2026
WAM Alternative Assets Limited has released its 2026 Corporate Governance Statement, confirming its adoption of the ASX Corporate Governance Council’s Principles and Recommendations (4th Edition, 2019 Amendments) for the year ended 30 June 2...
WAM Alternative Assets lodges ASX corporate governance disclosures for 2026
Aug 27, 2026
WAM Alternative Assets Ltd has lodged its Appendix 4G and corporate governance statement for the financial year ended 30 June 2026, confirming compliance with ASX Listing Rules on governance disclosure. The statement, current as at 28 August 2026 ...
WAM Alternative Assets gains on water exposure as NTA edges higher
Aug 14, 2026
WAM Alternative Assets reported that its investment portfolio rose in July 2026, supported by its 12.7% allocation to Australian water entitlements, mainly in the Murray Darling Basin. Net tangible assets after tax increased to 118.45 cents per sh...
WAM Alternative Assets boosts NTA as portfolio pivots to new private equity holdings
Jul 14, 2026
WAM Alternative Assets reported a June 2026 pre-tax net tangible asset value of 119.01 cents per share, up from May, with the post-tax NTA at 117.99 cents after a $2 million tax provision adjustment for the 2025 financial year. The company maintai...
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.