MACQUARIE GROUP LIMITED |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 188.8 AUD | -1.66% |
|
-3.53% | +2.81% |
| May. 21 | US Crude Oil Inventories to Post Smaller Draw of 0.9 Million Barrels Week-Over-Week, Macquarie Says | MT |
| May. 19 | Saudi Arabia to Exercise Pragmatic Oil Policy for Tighter Market | MT |
Valuation
| Fiscal Period: März | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 29,039 | 52,889 | 74,829 | 64,861 | 72,781 | 70,079 | - | - |
| Enterprise Value (EV) 1 | 86,656 | 95,444 | 121,602 | 109,754 | 160,804 | 192,993 | 226,814 | 263,443 |
| P/E ratio | 11.2 x | 18.5 x | 16.5 x | 13.3 x | 21.9 x | 18.2 x | 16 x | 15.1 x |
| Yield | 5.01% | 3.08% | 3.06% | 4.27% | 3.2% | 3.64% | 3.92% | 4.09% |
| Capitalization / Revenue | 2.36 x | 4.14 x | 4.32 x | 3.39 x | 4.31 x | 3.92 x | 3.65 x | 3.52 x |
| EV / Revenue | 7.03 x | 7.47 x | 7.02 x | 5.74 x | 9.52 x | 10.8 x | 11.8 x | 13.2 x |
| EV / EBITDA | 17.7 x | 19.8 x | 16.5 x | - | 27.6 x | 32.1 x | 33.4 x | 37.1 x |
| EV / FCF | 7,910,888 x | 39,374,740 x | - | - | - | - | - | - |
| FCF Yield | 0% | 0% | - | - | - | - | - | - |
| Price to Book | 1.44 x | 2.51 x | 2.73 x | 2.05 x | 2.28 x | 2.18 x | 2.06 x | 1.94 x |
| Nbr of stocks (in thousands) | 338,646 | 346,067 | 368,125 | 369,240 | 364,453 | 365,050 | - | - |
| Reference price 2 | 85.75 | 152.8 | 203.3 | 175.7 | 199.7 | 192.0 | 192.0 | 192.0 |
| Announcement Date | 5/7/20 | 5/6/21 | 5/5/22 | 5/4/23 | 5/2/24 | - | - | - |
1AUD in Million2AUD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Maart | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 12,325 | 12,774 | 17,324 | 19,122 | 16,887 | 17,892 | 19,210 | 19,888 |
| EBITDA 1 | 4,907 | 4,832 | 7,358 | - | 5,823 | 6,019 | 6,792 | 7,103 |
| EBIT 1 | 3,454 | 3,907 | 6,539 | 6,992 | 4,826 | 5,475 | 6,310 | 6,429 |
| Operating Margin | 28.02% | 30.59% | 37.75% | 36.57% | 28.58% | 30.6% | 32.85% | 32.33% |
| Earnings before Tax (EBT) 1 | 3,454 | 3,907 | 6,539 | 6,992 | 4,826 | 5,488 | 6,127 | 6,537 |
| Net income 1 | 2,731 | 3,015 | 4,706 | 5,182 | 3,522 | 4,049 | 4,584 | 4,804 |
| Net margin | 22.16% | 23.6% | 27.16% | 27.1% | 20.86% | 22.63% | 23.86% | 24.16% |
| EPS 2 | 7.645 | 8.246 | 12.31 | 13.16 | 9.114 | 10.57 | 12.00 | 12.72 |
| Free Cash Flow | 10,954 | 2,424 | - | - | - | - | - | - |
| FCF margin | 88.88% | 18.98% | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | 223.23% | 50.17% | - | - | - | - | - | - |
| FCF Conversion (Net income) | 401.1% | 80.4% | - | - | - | - | - | - |
| Dividend per Share 2 | 4.300 | 4.700 | 6.220 | 7.500 | 6.400 | 6.987 | 7.528 | 7.851 |
| Announcement Date | 5/7/20 | 5/6/21 | 5/5/22 | 5/4/23 | 5/2/24 | - | - | - |
1AUD in Million2AUD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 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 | 6,005 | 5,519 | 7,255 | 7,804 | 9,520 | 8,641 | 10,481 | 7,910 | 8,977 | 8,620 | 9,188 | 9,454 | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 1,614 | 1,253 | 2,654 | 2,735 | 3,804 | 3,028 | 3,964 | 1,991 | 2,835 | 2,550 | 2,899 | 2,788 | - |
| Operating Margin | 26.88% | 22.7% | 36.58% | 35.05% | 39.96% | 35.04% | 37.82% | 25.17% | 31.58% | 29.58% | 31.55% | 29.49% | - |
| Earnings before Tax (EBT) | 1,614 | 1,253 | 2,654 | 2,735 | 3,804 | 3,028 | 3,964 | 1,991 | 2,835 | - | - | - | - |
| Net income | 1,274 | 985 | 2,030 | 2,043 | 2,663 | 2,305 | 2,877 | 1,415 | 2,107 | - | - | - | - |
| Net margin | 21.22% | 17.85% | 27.98% | 26.18% | 27.97% | 26.68% | 27.45% | 17.89% | 23.47% | - | - | - | - |
| EPS 2 | 3.450 | 2.770 | 5.476 | 5.454 | 6.852 | 5.851 | 7.311 | 3.662 | 5.452 | 4.440 | 6.060 | 5.920 | 6.980 |
| Dividend per Share 2 | 1.800 | 1.350 | 3.350 | 2.720 | 3.500 | 3.000 | 4.500 | 2.550 | 3.850 | 3.340 | 4.060 | - | - |
| Announcement Date | 5/7/20 | 11/5/20 | 5/6/21 | 10/28/21 | 5/5/22 | 10/27/22 | 5/4/23 | 11/2/23 | 5/2/24 | - | - | - | - |
1AUD in Million2AUD
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 57,617 | 42,555 | 46,773 | 44,893 | 88,023 | 122,914 | 156,735 | 193,365 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 11.74 x | 8.807 x | 6.357 x | - | 15.12 x | 20.42 x | 23.08 x | 27.22 x |
| Free Cash Flow | 10,954 | 2,424 | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 14.5% | 14.3% | 18.7% | 16.9% | 10.8% | 12% | 12.9% | 12.9% |
| ROA (Net income/ Total Assets) | 1.2% | 1.2% | 1.46% | 1.32% | 0.89% | 0.99% | 1.07% | 1.06% |
| Assets 1 | 226,827 | 250,728 | 322,417 | 393,530 | 395,641 | 410,286 | 429,876 | 451,687 |
| Book Value Per Share 2 | 59.40 | 60.90 | 74.50 | 85.80 | 87.40 | 88.20 | 93.10 | 98.80 |
| Cash Flow per Share | - | 7.530 | 130.0 | - | - | - | - | - |
| Capex 1 | 1,165 | 761 | 892 | - | - | 900 | 900 | 900 |
| Capex / Sales | 9.45% | 5.96% | 5.15% | - | - | 5.03% | 4.69% | 4.53% |
| Announcement Date | 5/7/20 | 5/6/21 | 5/5/22 | 5/4/23 | 5/2/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
192
AUD
Average target price
192.5
AUD
Spread / Average Target
+0.29%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +3.42% | 47.04B | |
| +21.38% | 13.33B | |
| +24.94% | 7.7B | |
| +1.45% | 7.46B | |
| -2.05% | 6.12B | |
| -7.06% | 3.17B | |
| +25.08% | 2.03B | |
| +16.40% | 1.96B | |
| +6.08% | 1.3B | |
| -8.23% | 1.24B |
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