Stock PNI PINNACLE INVESTMENT MANAGEMENT GROUP LIMITED
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Financials Pinnacle Investment Management Group Limited

Equities

PNI

AU000000PNI7

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
11 AUD -2.48% Intraday chart for Pinnacle Investment Management Group Limited +5.87% +9.13%
Feb. 01 Transcript : Pinnacle Investment Management Group Limited, H1 2024 Earnings Call, Feb 02, 2024
Feb. 01 Pinnacle Investment Management Group's Net Profit Slides in Fiscal H1 MT

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 746.7 678.7 2,129 1,363 1,948 2,182 - -
Enterprise Value (EV) 1 720 692.6 2,132 1,445 2,040 2,263 2,254 2,248
P/E ratio 25.6 x 21.9 x 32.8 x 17.5 x 25.6 x 28.3 x 22.3 x 19.7 x
Yield 3.52% 3.93% 2.4% 4.98% 3.61% 3.16% 3.82% 4.34%
Capitalization / Revenue 35.3 x 30.3 x 65.5 x 29.6 x 42.8 x 45.6 x 40.1 x 35.1 x
EV / Revenue 34.1 x 30.9 x 65.6 x 31.4 x 44.8 x 47.3 x 41.4 x 36.2 x
EV / EBITDA 23.5 x 20.5 x 31.1 x 17.7 x 24.6 x 26.8 x 21.2 x 19 x
EV / FCF 34.2 x 31.5 x 64.8 x -96.7 x 37.1 x 28.1 x 25.6 x 23.5 x
FCF Yield 2.92% 3.17% 1.54% -1.03% 2.7% 3.56% 3.91% 4.26%
Price to Book 4.2 x 3.6 x 8.76 x 3.39 x 4.6 x 5.07 x 4.89 x 4.7 x
Nbr of stocks (in thousands) 170,476 173,132 177,823 193,860 195,151 198,334 - -
Reference price 2 4.380 3.920 11.97 7.030 9.980 11.00 11.00 11.00
Announcement Date 8/5/19 8/3/20 8/4/21 8/2/22 8/2/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 21.12 22.4 32.51 46 45.51 47.89 54.47 62.19
EBITDA 1 30.68 33.77 68.5 81.55 82.85 84.5 106.3 118.1
EBIT 1 30.62 32.88 67.58 80.56 82.54 83.85 105 119.3
Operating Margin 144.94% 146.79% 207.86% 175.14% 181.35% 175.11% 192.76% 191.79%
Earnings before Tax (EBT) 1 30.51 32.4 67.02 76.36 76.47 76.64 96.78 113.1
Net income 1 30.55 32.2 67.02 76.36 76.47 77.64 99.32 113.7
Net margin 144.62% 143.75% 206.12% 166.02% 168.02% 162.13% 182.34% 182.77%
EPS 2 0.1710 0.1790 0.3650 0.4020 0.3900 0.3881 0.4943 0.5587
Free Cash Flow 1 21.04 21.97 32.92 -14.94 55.03 80.61 88.07 95.72
FCF margin 99.59% 98.08% 101.24% -32.48% 120.91% 168.34% 161.69% 153.92%
FCF Conversion (EBITDA) 68.57% 65.06% 48.05% - 66.43% 95.4% 82.86% 81.05%
FCF Conversion (Net income) 68.86% 68.23% 49.12% - 71.96% 103.83% 88.68% 84.21%
Dividend per Share 2 0.1540 0.1540 0.2870 0.3500 0.3600 0.3481 0.4197 0.4773
Announcement Date 8/5/19 8/3/20 8/4/21 8/2/22 8/2/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2020 S1 2021 S1 2021 S2 2022 S1 2023 S1 2023 S2 2024 S1 2024 S2
Net sales 1 11.42 14.38 18.13 21.6 - 22.74 23.68 25.63
EBITDA 1 - - - 41.6 33.45 49.61 33.99 44.27
EBIT 1 - - - 41.15 - - 33.94 44.06
Operating Margin - - - 190.5% - - 143.29% 171.91%
Earnings before Tax (EBT) - - - 40.1 - - 30.23 -
Net income 1 - - - 40.1 30.49 - 30.23 42.7
Net margin - - - 185.65% - - 127.63% 166.61%
EPS - - - 0.2100 0.1570 - 0.1530 -
Dividend per Share 0.0690 - 0.1700 0.1750 0.1560 0.1560 0.1560 -
Announcement Date 2/5/20 2/3/21 8/4/21 2/2/22 2/1/23 8/2/23 2/1/24 -
1AUD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - 13.9 3.89 81.8 92.5 81 72.5 66.3
Net Cash position 1 26.7 - - - - - - -
Leverage (Debt/EBITDA) - 0.4126 x 0.0567 x 1.003 x 1.117 x 0.9584 x 0.682 x 0.5616 x
Free Cash Flow 1 21 22 32.9 -14.9 55 80.6 88.1 95.7
ROE (net income / shareholders' equity) 22.2% 17.6% 31% 24.2% 18.5% 18.5% 22.6% 24.9%
ROA (Net income/ Total Assets) 20.9% 15.1% 22.2% 17.3% 14% 14.7% 17.7% 19.3%
Assets 1 145.8 212.7 302.4 441 544.7 529.4 561.6 587.9
Book Value Per Share 2 1.040 1.090 1.370 2.070 2.170 2.170 2.250 2.340
Cash Flow per Share 2 0.1200 0.1200 0.1800 -0.0800 0.2800 0.4200 0.4600 0.5000
Capex 1 0.05 0.12 0.06 2.01 0.01 0.3 0.31 0.32
Capex / Sales 0.25% 0.55% 0.17% 4.38% 0.02% 0.63% 0.56% 0.51%
Announcement Date 8/5/19 8/3/20 8/4/21 8/2/22 8/2/23 - - -
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 Pinnacle Investment Management Group Limited

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
11 AUD
Average target price
11.83 AUD
Spread / Average Target
+7.52%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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