Stock PPT PERPETUAL LIMITED
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Financials Perpetual Limited

Equities

PPT

AU000000PPT9

Investment Management & Fund Operators

Market Closed - Australian S.E.
Other stock markets
 02:10:43 2024-04-26 am EDT 		5-day change 1st Jan Change
23.3 AUD -2.22% Intraday chart for Perpetual Limited -3.52% -8.56%
Apr. 24 Perpetual's Assets Under Management Rise 6% in March Quarter; Shares Down 3% MT
Apr. 22 KKR, Perpetual Reportedly Discuss Buyout CI

Valuation

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,954 1,399 2,249 1,620 2,889 2,599 - -
Enterprise Value (EV) 1 1,742 1,313 2,268 1,703 3,360 3,192 3,128 3,082
P/E ratio 17.1 x 17.2 x 30.1 x 16.4 x 36.4 x 27.6 x 13.8 x 11.7 x
Yield 5.92% 5.22% 4.49% 7.24% 5.99% 5.73% 6.38% 7.12%
Capitalization / Revenue 3.82 x 2.87 x 3.51 x 2.16 x 2.85 x 1.95 x 1.86 x 1.78 x
EV / Revenue 3.4 x 2.69 x 3.54 x 2.27 x 3.31 x 2.4 x 2.24 x 2.12 x
EV / EBITDA 8.88 x 7.27 x 10.5 x 8.01 x 10.8 x 7.8 x 7.07 x 6.54 x
EV / FCF 15.5 x 9.64 x 21.2 x 10.9 x 30.7 x 14.1 x 10.9 x 11 x
FCF Yield 6.47% 10.4% 4.72% 9.15% 3.26% 7.08% 9.13% 9.12%
Price to Book 2.95 x 2.15 x 2.46 x 1.75 x 1.21 x 1.16 x 1.14 x 1.12 x
Nbr of stocks (in thousands) 46,267 47,141 56,152 56,079 111,624 111,548 - -
Reference price 2 42.24 29.67 40.05 28.88 25.88 23.30 23.30 23.30
Announcement Date 8/21/19 8/19/20 8/18/21 8/24/22 8/23/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 512.1 487.6 640.6 749.6 1,014 1,332 1,394 1,456
EBITDA 1 196 180.6 215.8 212.6 310 409.1 442.3 471.1
EBIT 1 164.9 136.9 176.6 210.2 254.1 339 371.6 392.4
Operating Margin 32.21% 28.09% 27.57% 28.04% 25.06% 25.45% 26.66% 26.94%
Earnings before Tax (EBT) 162.2 116.6 106.7 137.3 89.1 - 234 351
Net income 1 115.9 82 74.87 101.2 59 91.53 184.7 221.9
Net margin 22.64% 16.82% 11.69% 13.5% 5.82% 6.87% 13.25% 15.23%
EPS 2 2.463 1.728 1.332 1.765 0.7110 0.8448 1.688 1.986
Free Cash Flow 1 112.7 136.2 107 155.8 109.4 226 285.7 281
FCF margin 22% 27.94% 16.71% 20.78% 10.79% 16.97% 20.49% 19.29%
FCF Conversion (EBITDA) 57.48% 75.42% 49.61% 73.28% 35.29% 55.25% 64.59% 59.65%
FCF Conversion (Net income) 97.2% 166.12% 142.98% 153.95% 185.42% 246.92% 154.67% 126.66%
Dividend per Share 2 2.500 1.550 1.800 2.090 1.550 1.334 1.486 1.658
Announcement Date 8/21/19 8/19/20 8/18/21 8/24/22 8/23/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Juni 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2 2026 S1 2026 S2
Net sales 1 253.5 234.1 280.6 359.9 383.6 366 388.3 625.5 657.8 680.4 692.5 706.9 725 747.3
EBITDA 1 105.7 74.9 94.9 120.9 132.9 79.7 118.8 191.1 189.9 208.1 - - - -
EBIT 1 82 54.93 75.2 101.4 113.8 96.5 98.8 155.1 166 171.1 180.2 182.4 195.8 201
Operating Margin 32.35% 23.47% 26.8% 28.17% 29.67% 26.37% 25.44% 24.8% 25.24% 25.14% 26.02% 25.8% 27% 26.9%
Earnings before Tax (EBT) 73.09 - - - - 52.1 - - - - - - - -
Net income 1 51.6 30.43 29.2 45.67 59.3 41.9 26.8 32.2 34.5 41.9 - - - -
Net margin 20.36% 13% 10.41% 12.69% 15.46% 11.45% 6.9% 5.15% 5.24% 6.16% - - - -
EPS 1.092 - - 0.8020 - - - - - - - - - -
Dividend per Share 2 1.050 0.5000 0.8400 0.9600 0.9600 1.130 0.9000 0.6500 0.6500 0.6853 0.7500 - - -
Announcement Date 2/19/20 8/19/20 2/17/21 8/18/21 2/23/22 8/24/22 2/22/23 8/23/23 2/27/24 - - - - -
1AUD in Million2AUD
Estimates

Balance Sheet Analysis

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 19 83 471 593 529 483
Net Cash position 1 213 85.9 - - - - - -
Leverage (Debt/EBITDA) - - 0.0879 x 0.3904 x 1.52 x 1.45 x 1.196 x 1.025 x
Free Cash Flow 1 113 136 107 156 109 226 286 281
ROE (net income / shareholders' equity) 17.5% 13.1% 9.56% 16.2% 9.9% 8.75% 10.4% 10.8%
ROA (Net income/ Total Assets) 9.67% 7.92% 5.36% 8.81% 5.74% 6.27% 7.06% 7.8%
Assets 1 1,199 1,035 1,397 1,148 1,028 1,459 2,617 2,844
Book Value Per Share 2 14.30 13.80 16.30 16.50 21.40 20.10 20.40 20.90
Cash Flow per Share 2 2.820 3.160 2.290 2.980 1.620 1.490 2.370 2.580
Capex 1 20 13.6 22 15 25.4 30.4 32.5 39.4
Capex / Sales 3.91% 2.79% 3.43% 2% 2.51% 2.28% 2.33% 2.71%
Announcement Date 8/21/19 8/19/20 8/18/21 8/24/22 8/23/23 - - -
1AUD in Million2AUD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Perpetual Limited

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
23.3 AUD
Average target price
27.04 AUD
Spread / Average Target
+16.03%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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