GQG PARTNERS INC (GQG)
Share Price Analysis and Chart

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GQG - GQG PARTNERS INC

FNArena Sector : Wealth Management & Investments

Year End: December

GICS Industry Group : Diversified Financials

Debt/EBITDA: 0.04

Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$1.615 08 Oct 2025	0.000 OPEN $1.64	0.000 HIGH $1.64	6,135,680 LOW $1.61

TARGET

$2.508

55.3% upside

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FNARENA'S MARKET CONSENSUS FORECASTS

12 Month Avg FX Values

Present FX Values

Original Currency

Title	FY25 Forecast	FY26 Forecast
EPS (cps)	24.8	xxx
DPS (cps)	22.2	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	6.5	xxx
Dividend Yield	13.8%	xxx
Div Pay Ratio(%)	89.6%	xxx

Title	FY25 Forecast	FY26 Forecast
EPS (cps)	24.2	xxx
DPS (cps)	21.6	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	6.7	xxx
Dividend Yield	13.4%	xxx
Div Pay Ratio(%)	89.6%	xxx

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	15.0	16.0	xxx
DPS (cps)	xxx	124.9	14.3	xxx
EPS Growth	xxx	50.0%	6.5%	xxx
DPS Growth	xxx	52.3%	- 88.5%	xxx
Div Pay Ratio(%)	xxx	832.7%	89.6%	xxx

This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 121.93%

DIVIDEND YIELD CALCULATOR

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: 12/11 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	22.4
DPS All	xxx	xxx	xxx	xxx	21.0
Sales/Revenue	xxx	xxx	xxx	xxx	1,152.9 M
Book Value Per Share	xxx	xxx	xxx	xxx	22.7
Net Operating Cash Flow	xxx	xxx	xxx	xxx	635.5 M
Net Profit Margin	xxx	xxx	xxx	xxx	56.75 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	110.63 %
Return on Invested Capital	xxx	xxx	xxx	xxx	106.25 %
Return on Assets	xxx	xxx	xxx	xxx	99.13 %
Return on Equity	xxx	xxx	xxx	xxx	110.63 %
Return on Total Capital	xxx	xxx	xxx	xxx	142.31 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	68.0 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	6 M
Long Term Debt	xxx	xxx	xxx	xxx	25 M
Total Debt	xxx	xxx	xxx	xxx	31 M
Goodwill - Gross	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	152 M
Price To Book Value	xxx	xxx	xxx	xxx	9.12

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Negative
Growth
Slowing

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	6.3 M
Capex % of Sales	xxx	xxx	xxx	xxx	0.54 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	47 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	222 M
Research & Development	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	31 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Negative
Growth
Slowing

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

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Sentiment Indicator

0.8

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
UBS	xx/xx/xxxx	1	xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Macquarie	xx/xx/xxxx	1	xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Morgans	25/08/2025	3	Hold	$1.90	17.65%	Morgans notes GQG Partners' 1H25 headline earnings beat its forecast by 5% but this was driven by performance fees and non-operating income. Operating metrics were in line with expectations. Flows remain an uncertainty after July saw a -US$1.4bn outflow following net inflow in 1H25 of US$8bn. For now, the broker is taking comfort from no major outflow reported at the update. Still, the broker expects wholesale channel flows to slow, noting international strategy is best placed for steady inflows while some institutional outflow could occur in the near term. FY25 net profit forecast lifted by 3.8% on performance fees while FY26 cut by -0.9% on lower management fee margins. Target trimmed to $1.90 from $2.10. Hold retained. FORECAST Morgans forecasts a full year FY25 dividend of 21.76 cents and EPS of 24.87 cents. Morgans forecasts a full year FY26 dividend of 21.76 cents and EPS of 24.87 cents.
Morgan Stanley	xx/xx/xxxx	1	xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Ord Minnett	xx/xx/xxxx	1	xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

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EXTRA COVERAGE

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No. Of Recommendations

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Jarden	01/09/2025	2	Downgrade to Overweight from Buy	$2.50	54.80%	Jarden described GQG Partners' 1H25 result as relatively robust but is concerned about the outlook due to investment underperformance and accelerating outflows. Trends worsened into 2H with net outflows in July-August, posing downside risk to FUM assumptions, though the broker is hopeful flow momentum will reverse in line with historical trends. Earnings risk is considered elevated from flows and performance. In 1H25, net profit lagged the broker's forecast but was 1.5% ahead of consensus. Base management fees of 48.2bps were weaker than the consensus and the broker's estimate. FY25 EPS forecast downgraded by -8% and FY26 by -19%. Target trimmed to $2.50 from $3.60. Rating downgraded to Overweight from Buy. FORECAST Jarden forecasts a full year FY25 dividend of 21.76 cents and EPS of 8.39 cents. Jarden forecasts a full year FY26 dividend of 23.32 cents and EPS of 24.25 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Jarden

01/09/2025

Downgrade to Overweight from Buy

$2.50

54.80%

Jarden described GQG Partners' 1H25 result as relatively robust but is concerned about the outlook due to investment underperformance and accelerating outflows.

Trends worsened into 2H with net outflows in July-August, posing downside risk to FUM assumptions, though the broker is hopeful flow momentum will reverse in line with historical trends.

Earnings risk is considered elevated from flows and performance.

In 1H25, net profit lagged the broker's forecast but was 1.5% ahead of consensus. Base management fees of 48.2bps were weaker than the consensus and the broker's estimate.

FY25 EPS forecast downgraded by -8% and FY26 by -19%. Target trimmed to $2.50 from $3.60. Rating downgraded to Overweight from Buy.

FORECAST
Jarden forecasts a full year FY25 dividend of 21.76 cents and EPS of 8.39 cents.
Jarden forecasts a full year FY26 dividend of 23.32 cents and EPS of 24.25 cents.

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GQG STOCK CHART

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Dividend Yield Today On Last Actual Payout :	117.38
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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GQG PARTNERS INC (GQG)
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