Magellan Financial Group Limited

ASX:MFG Stock Report

Market Cap: AU$1.6b

Magellan Financial Group Future Growth

Future criteria checks 4/6

Magellan Financial Group is forecast to grow earnings and revenue by 12.5% and 21.8% per annum respectively. EPS is expected to grow by 1% per annum. Return on equity is forecast to be 16.9% in 3 years.

Key information

12.5%

Earnings growth rate

0.98%

EPS growth rate

Capital Markets earnings growth8.5%
Revenue growth rate21.8%
Future return on equity16.91%
Analyst coverage

Low

Last updated20 May 2026

Recent future growth updates

Recent updates

Analysis Article • May 21

Analysts' Revenue Estimates For Magellan Financial Group Limited (ASX:MFG) Are Surging Higher

Magellan Financial Group Limited ( ASX:MFG ) shareholders will have a reason to smile today, with the analysts making...
Narrative Update • May 16

MFG: Capital Management And AUM Reset Will Drive Future Upside

Analysts have revised their price target for Magellan Financial Group to A$11.19 from A$10.74, reflecting updated assumptions on revenue growth, profit margins and future P/E expectations. What's in the News Magellan Financial Group plans to close the Magellan Global Equities Fund, which held about A$94 million in assets under management as of 30 April 2026.
Analysis Article • May 07

Analyst Forecasts Just Became More Bearish On Magellan Financial Group Limited (ASX:MFG)

The latest analyst coverage could presage a bad day for Magellan Financial Group Limited ( ASX:MFG ), with the analysts...
Analysis Article • Mar 27

Analyst Forecasts Just Became More Bearish On Magellan Financial Group Limited (ASX:MFG)

Today is shaping up negative for Magellan Financial Group Limited ( ASX:MFG ) shareholders, with the analysts...
Narrative Update • Mar 06

MFG: Margin Pressure And Weak Performance Outside Vinva Will Restrain Returns

Analysts have trimmed their price target on Magellan Financial Group from A$10.03 to A$9.59, citing weaker expected margins from product mix, ongoing underperformance outside Vinva, and uncertainty around capital management and associate contributions. Analyst Commentary Recent research commentary on Magellan Financial Group has focused on how product mix, performance across different strategies, and capital allocation decisions might influence earnings quality and valuation from here.
Narrative Update • Feb 20

MFG: Margin Pressures And Capital Management Will Shape Future Upside

Narrative Update Analysts have cut their 12 month price target for Magellan Financial Group by A$1 to A$9, citing ongoing margin pressure from business mix, weaker performance in parts of the franchise outside Vinva, and uncertainty around capital management and associate earnings. Analyst Commentary Recent commentary around Magellan Financial Group has become more cautious, with Goldman Sachs cutting its 12 month price target to A$9 and downgrading the stock to Sell.
Narrative Update • Feb 06

MFG: Margin Execution And Capital Management Will Shape Future Upside

Analysts have trimmed their 12 month price target for Magellan Financial Group to A$9 from A$10, citing a weaker margin outlook from product mix, ongoing underperformance outside Vinva, and risks around capital management and associate earnings. Analyst Commentary Recent Street research has taken a cautious view on Magellan Financial Group, with Goldman Sachs trimming its 12 month price target to A$9 from A$10 and moving to a Sell rating.
Narrative Update • Jan 22

MFG: Margin Discipline And Capital Management Will Shape Upside Potential

Analysts have trimmed their fair value estimate for Magellan Financial Group from about A$12.00 to roughly A$10.74, reflecting lower revenue growth assumptions, a slightly higher discount rate, and a reduced future P/E multiple following recent research pointing to ongoing margin pressure risks and weaker performance outside Vinva. Analyst Commentary Recent Street research on Magellan Financial Group has leaned cautious, with attention on margin risk, fund mix, and performance outside Vinva.
Analysis Article • Jan 06

Insufficient Growth At Magellan Financial Group Limited (ASX:MFG) Hampers Share Price

With a price-to-earnings (or "P/E") ratio of 9.4x Magellan Financial Group Limited ( ASX:MFG ) may be sending very...
Analysis Article • Aug 22

Revenue Beat: Magellan Financial Group Limited Beat Analyst Estimates By 10%

As you might know, Magellan Financial Group Limited ( ASX:MFG ) recently reported its full-year numbers. Magellan...
Narrative Update • Aug 21

Vinva Partnership And Global Expansion May Improve Future Prospects, But Fee Pressures And Outflows Could Challenge Profitability

Magellan Financial Group’s consensus price target has risen, reflecting improved sentiment as analysts now expect a less severe revenue decline and a modestly higher net profit margin, raising fair value from A$8.80 to A$9.91. What's in the News Between January 1 and June 30, 2025, Magellan Financial Group repurchased 7,175,160 shares (4.01% of shares, AUD 56.16 million), completing a total buyback of 14,075,160 shares (7.77%, AUD 126.76 million) under the program announced in March 2022 (Key Developments).
Analysis Article • Jun 30

Investors Don't See Light At End Of Magellan Financial Group Limited's (ASX:MFG) Tunnel

Magellan Financial Group Limited's ( ASX:MFG ) price-to-earnings (or "P/E") ratio of 6.4x might make it look like a...
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New Narrative • Mar 13

Vinva Partnership And Global Expansion May Improve Future Prospects, But Fee Pressures And Outflows Could Challenge Profitability

New leadership and strategic execution could enhance business stability, client trust, and earnings.
Analysis Article • Feb 23

Magellan Financial Group Limited's (ASX:MFG) 26% Dip In Price Shows Sentiment Is Matching Earnings

Magellan Financial Group Limited ( ASX:MFG ) shareholders won't be pleased to see that the share price has had a very...
Analysis Article • Feb 21

Magellan Financial Group Limited (ASX:MFG) Just Beat Earnings: Here's What Analysts Think Will Happen Next

Magellan Financial Group Limited ( ASX:MFG ) just released its half-year report and things are looking bullish...
Analysis Article • Nov 20

Lacklustre Performance Is Driving Magellan Financial Group Limited's (ASX:MFG) Low P/E

When close to half the companies in Australia have price-to-earnings ratios (or "P/E's") above 20x, you may consider...
Analysis Article • Aug 16

Earnings Beat: Magellan Financial Group Limited Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Magellan Financial Group Limited ( ASX:MFG ) just released its annual report and things are looking bullish. It was a...
Analysis Article • Jul 04

Magellan Financial Group Limited's (ASX:MFG) Prospects Need A Boost To Lift Shares

Magellan Financial Group Limited's ( ASX:MFG ) price-to-earnings (or "P/E") ratio of 8.1x might make it look like a...
Analysis Article • Mar 18

Magellan Financial Group Limited's (ASX:MFG) Earnings Are Not Doing Enough For Some Investors

With a price-to-earnings (or "P/E") ratio of 8.6x Magellan Financial Group Limited ( ASX:MFG ) may be sending very...
Analysis Article • Feb 17

Magellan Financial Group's (ASX:MFG) Shareholders Will Receive A Smaller Dividend Than Last Year

Magellan Financial Group Limited ( ASX:MFG ) has announced that on 6th of March, it will be paying a dividend...
Analysis Article • Feb 16

Magellan Financial Group Limited Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

Magellan Financial Group Limited ( ASX:MFG ) defied analyst predictions to release its interim results, which were...
Analysis Article • Dec 18

There's No Escaping Magellan Financial Group Limited's (ASX:MFG) Muted Earnings Despite A 28% Share Price Rise

Magellan Financial Group Limited ( ASX:MFG ) shareholders are no doubt pleased to see that the share price has bounced...

Earnings and Revenue Growth Forecasts

ASX:MFG - Analysts future estimates and past financials data (AUD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
6/30/20284672222002135
6/30/20274492091942345
6/30/2026341171N/A1281
12/31/2025263140144145N/A
9/30/2025291152149149N/A
6/30/2025319165153153N/A
3/31/2025353197138138N/A
12/31/2024386229119120N/A
9/30/20243822348383N/A
6/30/20243792394747N/A
3/31/20243902216970N/A
12/31/20234012039292N/A
9/30/2023416193139139N/A
6/30/2023431183186187N/A
3/31/2023390199236236N/A
12/31/2022350215286286N/A
9/30/2022450299360360N/A
6/30/2022550383434435N/A
3/31/2022669349419419N/A
12/31/2021789314403403N/A
9/30/2021754290402402N/A
6/30/2021720265401401N/A
3/31/2021691334412413N/A
12/31/2020663403424424N/A
9/30/2020679400411411N/A
6/30/2020695396398398N/A
3/31/2020699398388389N/A
12/31/2019703399379379N/A
9/30/2019659388N/A347N/A
6/30/2019616377N/A315N/A
3/31/2019573354N/A304N/A
12/31/2018530332N/A293N/A
9/30/2018490272N/A232N/A
6/30/2018451212N/A170N/A
3/31/2018416187N/A148N/A
12/31/2017381163N/A126N/A
9/30/2017360179N/A145N/A
6/30/2017339196N/A165N/A
3/31/2017322186N/A173N/A
12/31/2016305176N/A180N/A
9/30/2016320187N/A181N/A
6/30/2016334198N/A182N/A
3/31/2016335202N/A167N/A
12/31/2015337206N/A153N/A
9/30/2015310190N/A145N/A
6/30/2015284174N/A137N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MFG's forecast earnings growth (12.5% per year) is above the savings rate (3.6%).

Earnings vs Market: MFG's earnings (12.5% per year) are forecast to grow faster than the Australian market (12% per year).

High Growth Earnings: MFG's earnings are forecast to grow, but not significantly.

Revenue vs Market: MFG's revenue (21.8% per year) is forecast to grow faster than the Australian market (6.2% per year).

High Growth Revenue: MFG's revenue (21.8% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: MFG's Return on Equity is forecast to be low in 3 years time (16.9%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/01 08:37
End of Day Share Price 2026/06/01 00:00
Earnings2025/12/31
Annual Earnings2025/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Magellan Financial Group Limited is covered by 14 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Freya KongBofA Global Research
Lara TufegdzicBofA Global Research
Richard AmlandCLSA