Pacific Current Group Ltd (TSRUF) AI Stock Analysis

Company Guidance

Management guided FY'27 to preserve capital optionality, continue returning capital to shareholders (dividends and on‑market buybacks), target further material expense reduction and sharpen the operating model while a strategic review runs; materially both interest expense and investment‑management fees are expected to roll off entirely in FY'27 following debt repayment and the GQG agreement conclusion. Key metrics underpinning that guidance: FY'26 underlying NPAT of AUD 14.8m (underlying income AUD 25.1m), interest income AUD 16.8m (67% of underlying income), total overheads down 41% to AUD 9.4m, interest expense down to AUD 2.6m (from AUD 6.7m), underlying EPS AUD 0.502 (‑10%) on a 36.8% reduction in weighted average shares, strong cash conversion with underlying pretax cash earnings AUD 14.4m (91% of underlying PBT), total dividends AUD 0.48 per share (interim AUD 0.20 fully franked, final AUD 0.28 franked 17.5%), fair‑value NAV AUD 16.18/share (up 4% YoY; compounded >14% p.a. over 5 years from AUD 8.39), funds under management AUD 26.4bn (from AUD 30bn), cash and short‑term deposits AUD 157.7m (up AUD 19.8m), corporate net assets up AUD 274.9m to ~AUD 419.2m, fair‑value net assets AUD 452m, liabilities down 89% to AUD 8.6m, and buybacks of >2.2m shares for AUD 22.9m (shares on issue down 7% to 27.9m).