AUSTRALIAN FINANCE GROUP LIMITED (AFG)
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AFG - AUSTRALIAN FINANCE GROUP LIMITED

FNArena Sector : Banks
Year End: June
GICS Industry Group : Banks
Debt/EBITDA: N/A
Index: ASX300 | ALL-ORDS

Australian Finance Group is one of Australia's largest mortgage broking groups and financial solutions providers. Established in 1994, it listed on the ASX in 2015.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.475

03 Oct
2023

-0.015

OPEN

$1.49

-1.01%

HIGH

$1.49

116,794

LOW

$1.46

TARGET
$1.58 7.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
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FNARENA'S MARKET CONSENSUS FORECASTS
AFG: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx N/A 13.5 xxx
DPS (cps) xxx N/A 8.2 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 10.9 xxx
Dividend Yield xxx N/A 5.6% xxx
Div Pay Ratio(%) xxx N/A 60.6% xxx

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 04/09 - ex-div 4.1c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201720182019202020212022
EPS Basic xxxxxxxxxxxxxxx14.4
DPS All xxxxxxxxxxxxxxx16.6
Sales/Revenue xxxxxxxxxxxxxxx949.3 M
Book Value Per Share xxxxxxxxxxxxxxx68.7
Net Operating Cash Flow xxxxxxxxxxxxxxx52.7 M
Net Profit Margin xxxxxxxxxxxxxxx4.08 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201720182019202020212022
Return on Capital Employed xxxxxxxxxxxxxxx20.02 %
Return on Invested Capital xxxxxxxxxxxxxxx1.65 %
Return on Assets xxxxxxxxxxxxxxx0.68 %
Return on Equity xxxxxxxxxxxxxxx20.02 %
Return on Total Capital xxxxxxxxxxxxxxx3.10 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx13.4 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201720182019202020212022
Short-Term Debt xxxxxxxxxxxxxxx2,600 M
Long Term Debt xxxxxxxxxxxxxxx2,375 M
Total Debt xxxxxxxxxxxxxxx4,975 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx269 M
Price To Book Value xxxxxxxxxxxxxxx2.20

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201720182019202020212022
Capex xxxxxxxxxxxxxxx12.7 M
Capex % of Sales xxxxxxxxxxxxxxx1.33 %
Cost of Goods Sold xxxxxxxxxxxxxxx745 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx67 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx4,803 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.0

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Citi

28/08/2023

3

Downgrade to Neutral from Buy

$1.70

15.25%

It is Citi's conclusion Australian Finance Group released FY23 financials slightly below expectations. The net interest margin (NIM) contracted on top of churn in the manufacturing business and a higher payout ratio for the aggregation business.

Management flagged further investments, with no relief in sight for the payout ratio. Guidance is for the NIM to contract in FY24.

Citi has responded through a downgrade to Neutral from Buy. The broker observes the pendulum has swung in favour of mortgage brokers taking larger market share in a competitive market.

The broker sees ongoing challenges in distribution and lowers forecasts by -21%/-14%/-4% for FY24-26. Target price tumbles to $1.70 from $2.

FORECAST
Citi forecasts a full year FY24 dividend of 8.30 cents and EPS of 13.50 cents.
Citi forecasts a full year FY25 dividend of 11.00 cents and EPS of 17.90 cents.
Access Stockbroker Research History >

AFG STOCK CHART

FNArena News on AFG

1
Rudi’s View: Outlook Negative, With Plenty Of Silver Linings

Sep 06 2023 - Rudi's View
2
Weekly Ratings, Targets, Forecast Changes – 01-09-23

Sep 04 2023 - Weekly Reports
3
FNArena Corporate Results Monitor – 28-08-2023

Aug 28 2023 - Australia
4
ESG Focus: ESG And The Hunt For Alpha

Mar 30 2023 - ESG Focus
5
FNArena Corporate Results Monitor – 27-02-2023

Feb 27 2023 - Australia

Latest Banks News

1
Australian Banks: Choppy And Messy

Sep 28 2023 - Technicals
2
Post August Reflections

Sep 05 2023 - Australia
3
Banks: Topping Out?

Jul 25 2023 - Technicals
4
Australian Banks: Future Not Bright

May 17 2023 - Feature Stories
5
Judo Capital Offers Differentation

May 11 2023 - Small Caps
6
Bank Of Queensland Disappoints

Apr 17 2023 - Australia
7
Australian Banks: Clouds On The Horizon

Apr 14 2023 - Feature Stories
8
Rudi’s View: (Not) About The Banks

Mar 29 2023 - Rudi's View
9
Australia And The US Bank Crisis

Mar 23 2023 - Feature Stories
10
Westpac: Patience Required

Feb 02 2023 - Technicals