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Australian (ASX) Asset Management Industry Analysis

UpdatedJul 14, 2026
DataAggregated Company Financials
Companies65
  • 7D-0.8%
  • 3M4.0%
  • 1Y-11.4%
  • YTDn/a

Over the last 7 days, the Asset Management industry has remained flat, although notably Netwealth Group gained 3.5%. Unfortunately though, the industry is down 11% over the past 12 months. As for the next few years, earnings are expected to grow by 17% per annum.

Industry Valuation and Performance

Has the Australian Asset Management Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Jul 2026AU$56.9bAU$7.6bAU$2.7b21.1x21.1x7.5x
Thu, 11 Jun 2026AU$52.4bAU$7.6bAU$2.7b19x19.5x6.9x
Sat, 09 May 2026AU$54.2bAU$7.6bAU$2.7b20.2x20.3x7.2x
Mon, 06 Apr 2026AU$55.6bAU$9.3bAU$2.9b21x19.5x6x
Wed, 04 Mar 2026AU$59.2bAU$9.3bAU$2.8b22.5x20.8x6.4x
Fri, 30 Jan 2026AU$61.2bAU$9.0bAU$3.1b21.3x19.5x6.8x
Sun, 28 Dec 2025AU$62.5bAU$9.0bAU$3.2b21.1x19.6x6.9x
Tue, 25 Nov 2025AU$61.0bAU$9.1bAU$3.2b22.3x18.9x6.7x
Thu, 23 Oct 2025AU$63.4bAU$8.9bAU$3.1b22.3x20.2x7.1x
Sat, 20 Sep 2025AU$60.5bAU$9.0bAU$3.1b22.4x19.4x6.7x
Mon, 18 Aug 2025AU$64.3bAU$9.2bAU$2.8b15.8x23.2x7x
Wed, 16 Jul 2025AU$63.5bAU$9.6bAU$3.0b15.1x20.9x6.6x
Fri, 13 Jun 2025AU$61.0bAU$9.6bAU$3.0b14.5x20x6.3x
Sun, 11 May 2025AU$59.2bAU$9.6bAU$3.1b14.2x19.4x6.1x
Tue, 08 Apr 2025AU$52.9bAU$9.7bAU$3.1b13x17x5.4x
Thu, 06 Mar 2025AU$62.3bAU$9.7bAU$3.1b14.7x20.2x6.4x
Sat, 01 Feb 2025AU$67.0bAU$10.1bAU$2.5b18.7x26.8x6.6x
Mon, 30 Dec 2024AU$64.4bAU$9.8bAU$2.3b18.6x28.6x6.6x
Wed, 27 Nov 2024AU$66.5bAU$9.7bAU$2.2b19.3x29.9x6.8x
Fri, 25 Oct 2024AU$63.1bAU$9.7bAU$2.2b19.3x28.4x6.5x
Sun, 22 Sep 2024AU$56.9bAU$9.6bAU$2.1b17.9x26.6x5.9x
Tue, 20 Aug 2024AU$56.8bAU$9.2bAU$2.6b21.2x22.2x6.2x
Thu, 18 Jul 2024AU$57.8bAU$9.0bAU$2.4b23.6x23.9x6.4x
Sat, 15 Jun 2024AU$54.4bAU$9.0bAU$2.4b20.5x22.5x6x
Mon, 13 May 2024AU$53.1bAU$9.1bAU$2.4b23.2x21.9x5.8x
Wed, 10 Apr 2024AU$54.0bAU$9.1bAU$2.4b22.8x22.2x5.9x
Fri, 08 Mar 2024AU$53.0bAU$9.1bAU$2.4b22.9x21.8x5.8x
Sun, 04 Feb 2024AU$53.4bAU$9.2bAU$2.5b22x21.8x5.8x
Tue, 02 Jan 2024AU$51.1bAU$8.9bAU$2.3b20.4x22.1x5.7x
Thu, 30 Nov 2023AU$47.3bAU$8.9bAU$2.3b19.4x20.4x5.3x
Sat, 28 Oct 2023AU$42.5bAU$8.5bAU$2.0b19.3x21.1x5x
Mon, 25 Sep 2023AU$46.5bAU$8.5bAU$2.0b19.9x23.1x5.5x
Wed, 23 Aug 2023AU$46.0bAU$8.1bAU$1.9b23.2x23.9x5.6x
Fri, 21 Jul 2023AU$46.8bAU$8.1bAU$2.0b22.7x22.9x5.8x
Price to Earnings Ratio

22.9x


Total Market Cap: AU$46.8bTotal Earnings: AU$2.0bTotal Revenue: AU$8.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Asset Management Industry Price to Earnings3Y Average 22.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the Australian Asset Management and Custody Banks industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 22.1x.
  • The 3-year average PS ratio of 6.3x is lower than the industry's current PS ratio of 7.5x.
Past Earnings Growth
  • The earnings for companies in the Asset Management and Custody Banks industry have grown 9.7% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Comparison

How does Australian Asset Management compare with similar industries?

AU Market-0.25%
Financials2.78%
Capital Markets0.58%
Asset Management-0.80%
Financial Exchanges and Data3.76%
Diversified Capital Markets1.31%
Investment Banking and Brokerage-1.87%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NWL Netwealth GroupAU$23.683.5%
+AU$193.9m		-31.1%PE102.4x
QAL QualitasAU$3.285.5%
+AU$50.3m		-4.1%PE25.6x
EQT EQT HoldingsAU$18.506.9%
+AU$31.9m		-43.7%PE11.9x
BKI BKI InvestmentAU$1.841.4%
+AU$20.2m		3.4%PE22.8x
DJW Djerriwarrh InvestmentsAU$2.932.1%
+AU$15.8m		-7.0%PE20x

Latest News

MFG
AU$9.94
Magellan Financial Group
7D
-5.7%
1Y
1.9%
QAL
AU$3.28
Qualitas
7D
5.5%
1Y
-4.1%
Narrative Update • Jul 10

QAL: Higher Margins And Richer P/E Will Support Future Upside

Analysts have lifted their price target on Qualitas from A$4.70 to A$5.10, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E that change their overall valuation framework. What’s in the News for Qualitas No recent Qualitas specific news has been identified from the provided primary news stories.
NGI
AU$2.41
Navigator Global Investments
7D
-3.6%
1Y
45.2%
Narrative Update • Jul 09

NGI: Alternatives Focus And Rights Offering Will Support Future Upside

Navigator Global Investments' analyst price target has shifted from A$2.97 to A$3.39, with analysts pointing to the company's focus on alternative assets and what they view as improved earnings quality as key drivers behind the updated view. What’s in the News for Navigator Global Investments Navigator Global Investments filed a follow on equity offering totaling A$144.979502 million in ordinary shares.
GQG
AU$1.44
GQG Partners
7D
-1.0%
1Y
-33.9%
Narrative Update • Jul 03

GQG: Dividend Payout And Softer Margins Will Shape Future P/E

Analysts have trimmed their price target for GQG Partners to A$11.63 from A$13.07, reflecting slightly lower fair value estimates as they factor in softer revenue growth, a marginally reduced profit margin outlook, and a lower future P/E assumption. What’s in the News for GQG Partners GQG Partners declared a first quarter 2026 cash dividend of US$0.0354 per share, which the company notes represents 90.14% of estimated first quarter distributable earnings.
ARG
AU$9.00
Argo Investments
7D
-1.1%
1Y
-1.3%
HMC
AU$2.88
HMC Capital
7D
-4.6%
1Y
-22.6%
Narrative Update • Jul 01

HMC: Revised Forecasts Will Emphasize Discipline On Margins And Capital Allocation

Analysts have reduced their price target on HMC Capital to A$5.35 from A$6.20, citing revised expectations for revenue growth, profit margins, and a slightly higher future P/E multiple. What’s in the News for HMC Capital Honda Motor, whose stock ticker is HMC, is reported by The New York Times to be facing internal tension after its earlier pledge to go all electric by 2040 reportedly unraveled, with the CEO describing the situation as "heartbreaking." Nikkei Asia reports that Honda is considering issuing more than ¥400b in euro denominated bonds to support supplier compensation linked to changes in its electric vehicle plans and to fund additional investment in hybrid vehicle development.
DJW
AU$2.93
Djerriwarrh Investments
7D
2.1%
1Y
-7.0%
EQT
AU$18.50
EQT Holdings
7D
6.9%
1Y
-43.7%
PNI
AU$17.38
Pinnacle Investment Management Group
7D
-3.2%
1Y
-17.0%
Narrative Update • Jun 26

PNI: Higher Profitability Assumptions Will Support Stronger Future Earnings Potential

Analysts have trimmed their price target on Pinnacle Investment Management Group from A$29 to A$26. This reflects updated views on fair value, discount rate settings, revenue growth expectations, profit margin assumptions and future P/E multiples.
AFI
AU$6.92
Australian Foundation Investment
7D
-1.6%
1Y
-7.0%
NWL
AU$23.68
Netwealth Group
7D
3.5%
1Y
-31.1%
Narrative Update • Jun 23

NWL: Rich Dividend And Index Removal Will Still Cap Future Returns

Analysts have nudged their price target on Netwealth Group slightly higher to A$17.86, with updated assumptions pointing to a modestly higher revenue growth outlook, a slightly wider profit margin, a marginally higher discount rate, and a slightly lower future P/E multiple. What's in the News No recent Netwealth Group specific news items, periodical coverage, or key developments were provided in the available sources.
MIR
AU$2.57
Mirrabooka Investments
7D
1.6%
1Y
-22.6%
AEF
AU$4.50
Australian Ethical Investment
7D
2.3%
1Y
-25.0%
Narrative Update • Jun 22

AEF: Steady Assumptions And Higher Future P/E Will Support Attractive Outlook

Analysts have maintained their A$ fair value estimate for Australian Ethical Investment at A$6.70, with only small adjustments to inputs such as the discount rate and the assumed future P/E multiple shaping the updated price target rationale. What's in the News No recent company specific news for Australian Ethical Investment has been provided in the available sources.
L1G
AU$1.21
L1 Group
7D
-2.0%
1Y
n/a
BTI
AU$1.02
Bailador Technology Investments
7D
6.3%
1Y
-12.9%
BKI
AU$1.84
BKI Investment
7D
1.4%
1Y
3.4%
Analysis Article • Jan 31

BKI Investment (ASX:BKI) Has Announced A Dividend Of A$0.0395

The board of BKI Investment Company Limited ( ASX:BKI ) has announced that it will pay a dividend of A$0.0395 per share...