SOLVAR LIMITED (SVR)
Share Price Analysis and Chart

20/08/2026

2

Accumulate

$1.78

2.30%

Morgans retains an Accumulate rating for Solvar with a price target of $1.78 per share following a solid FY26 result that tracked broadly in line with expectations.

The group delivered a normalised net profit after tax of $36.1m, matching guidance of $36.0m, while continuing to execute an orderly exit from New Zealand operations.

The gross loan book expanded 4.8% year-on-year to $953.4m, outperforming the broker's $929m forecast, led by strong Australian receivables growth.

Positive origination momentum observed in the second half of FY26 has carried forward into early FY27, supporting the broader commercial push and book growth objectives.

The analyst notes that net interest income of $145.7m contracted 6% year-on-year due to lower New Zealand income contributions.

FORECAST
Morgans forecasts a full year FY27 dividend of 17.00 cents and EPS of 19.00 cents.
Morgans forecasts a full year FY28 dividend of 18.00 cents and EPS of 21.00 cents.

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

21/08/2026

1

Initiation of coverage with Buy

$1.90

9.20%

Shaw and Partners initiates coverage of Solvar with a Buy rating and a 12-month target price of $1.90 following the conclusion of its ASIC litigation and the strategic wind-down of its unprofitable New Zealand loan book.

The analyst highlights that loan balance expansion across the Money3, AFS, and bennji operating platforms should drive over 25% cash net profit after tax growth in FY28 as total loan balances approach $1.2bn.

The business benefits from strong distribution through more than 1,600 brokers, over $400m in undrawn funding headroom, and robust collection processes that maintain high asset quality.

Shaw believes the stock offers an attractive fully franked dividend yield exceeding 8% supported by disciplined capital management.

FORECAST
Shaw and Partners forecasts a full year FY27 dividend of 13.00 cents and EPS of 15.50 cents.
Shaw and Partners forecasts a full year FY28 dividend of 15.00 cents and EPS of 20.40 cents.