Magellan Financial Group Ltd MFG

Stock XASX Rating as of Oct 2, 2026

A$8.09 −0.09 (1.10%)

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As of Oct 2, 2026, 6:10:25 AM Delayed Price Closed

Company Report

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Magellan Earnings: Barrenjoey to Reverse Decline in Performance but Market Expecting a Lot More

Shaun Ler Aug 27, 2026

Magellan's underlying net profit after tax fell 47% in fiscal 2026. Management fees fell 13% from lower funds under management and fee compression. FUM declined 7%. Management fee margins reduced to 0.52% of FUM from 0.61% last year, as the mix shifted toward lower-margin institutional FUM.

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Price vs Fair Value

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MFG is trading at a LOCK|%c%&$D premium.

Price

A$8.09

Oct 2, 2026

Fair Value

M.X

Aug 27, 2026

Uncertainty

LOCK|#l^

1-Star Price: LOCK|.BPF
5-Star Price: LOCK|fy
Economic Moat: LOCK|t#
Capital Allocation: LOCK|!k<NX%

Bulls Say, Bears Say

Bulls

Barrenjoey is a major Australian investment bank, competing alongside global majors on landmark transactions. This is a position that should generate durable earnings as the franchise matures and private capital scales.

Bears

Investment banking revenue is cyclical, tied to deal volumes and market conditions, which no firm controls. Depressed capital markets activity can affect group earnings materially.

Trading Information

Previous Close Price: A$8.18
Day Range: A$8.05–8.33
52-Week Range: A$7.96–11.55
Bid/Ask: A$8.05 / A$8.10
Shares Outstanding: 292.61M
Market Cap: A$2.37B
Volume/Avg: 881,079 / 1M

Key Statistics

Price/Earnings (Normalized): 10.11
Price/Sales: 7.27
Dividend Yield (Trailing): 8.03%
Dividend Yield (Forward): 6.30%
Dividend Payment Schedule: Mar, Sep
Total Yield: 8.03%

Company Profile

Magellan Financial Group was established as an active asset manager in 2006, before merging with Barrenjoey Capital Partners in 2026 to add investment banking to its offering and arrest the group's organic earnings decline. The investment banking arm operates across advisory, capital markets, research and execution. It is a strong contender in Australian mergers and acquisitions, IPOs, and equities. The asset management arm, Magellan Investment Partners, predominantly manages listed equities, with private capital a small but growing asset class. Some strategies—notably its flagship global equity strategies—are managed by external investment managers.

Sector: Financial Services
Industry: Asset Management
Stock Style Box: Small Value
Total Number of Employees: 135
Website: https://www.magellangroup.com.au

Competitors

Perpetual Ltd

PPT

Valuation

Metric	MFG	PPT
Price/Earnings (Normalized)	10.11	10.11
Price/Book Value	1.42	1.27
Price/Sales	7.27	1.78
Price/Cash Flow	11.12	7.24

Price/Earnings

MFG

PPT

Financial Strength

Metric	MFG	PPT
Quick Ratio	—	0.75
Current Ratio	—	1.58
Interest Coverage	—	1.31

Quick Ratio

MFG

PPT

Profitability

Metric	MFG	PPT
Return on Assets (Normalized)	13.37%	5.56%
Return on Equity (Normalized)	14.42%	11.64%
Return on Invested Capital (Normalized)	—	7.69%

Return on Assets

MFG

PPT

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