We’ve recently updated our valuation analysis.

Macquarie Group Valuation

Is MQG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MQG?

Other financial metrics that can be useful for relative valuation.

MQG key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio2.8x

Price to Earnings Ratio vs Peers

How does MQG's PE Ratio compare to its peers?

The above table shows the PE ratio for MQG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average20.8x
AFI Australian Foundation Investment
25.2xn/aAU$9.5b
ASX ASX
26.2x6.5%AU$13.3b
ARG Argo Investments
22.3xn/aAU$7.0b
UBSG UBS Group
9.3x0.1%CHF62.9b
MQG Macquarie Group
14.5x5.2%AU$69.6b

Price-To-Earnings vs Peers: MQG is good value based on its Price-To-Earnings Ratio (14.5x) compared to the peer average (20.8x).


Price to Earnings Ratio vs Industry

How does MQG's PE Ratio compare vs other companies in the AU Capital Markets Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a7.6%
n/an/an/a

Price-To-Earnings vs Industry: MQG is good value based on its Price-To-Earnings Ratio (14.5x) compared to the Australian Capital Markets industry average (17.3x)


Price to Earnings Ratio vs Fair Ratio

What is MQG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MQG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.5x
Fair PE Ratio19.6x

Price-To-Earnings vs Fair Ratio: MQG is good value based on its Price-To-Earnings Ratio (14.5x) compared to the estimated Fair Price-To-Earnings Ratio (19.6x).


Share Price vs Fair Value

What is the Fair Price of MQG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MQG (A$187.46) is trading above our estimate of fair value (A$87.18)

Significantly Below Fair Value: MQG is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MQG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$187.46
AU$189.74
+1.2%
9.5%AU$218.00AU$150.00n/a13
Jan ’24AU$166.96
AU$189.21
+13.3%
9.3%AU$215.00AU$150.00n/a13
Dec ’23AU$182.10
AU$195.22
+7.2%
10.4%AU$225.00AU$150.00n/a14
Nov ’23AU$172.00
AU$195.22
+13.5%
10.4%AU$225.00AU$150.00n/a14
Oct ’23AU$152.74
AU$197.61
+29.4%
10.9%AU$231.00AU$150.00n/a14
Sep ’23AU$174.45
AU$197.61
+13.3%
10.9%AU$231.00AU$150.00n/a14
Aug ’23AU$179.90
AU$196.68
+9.3%
10.3%AU$223.40AU$150.00n/a14
Jul ’23AU$164.24
AU$202.65
+23.4%
11.0%AU$234.00AU$150.00n/a14
Jun ’23AU$188.38
AU$207.36
+10.1%
11.2%AU$234.00AU$150.00n/a14
May ’23AU$206.98
AU$219.31
+6.0%
10.1%AU$245.00AU$160.00n/a12
Apr ’23AU$206.00
AU$215.36
+4.5%
11.3%AU$245.00AU$160.00n/a13
Mar ’23AU$183.05
AU$213.23
+16.5%
10.5%AU$242.00AU$160.00n/a13
Feb ’23AU$188.62
AU$208.26
+10.4%
12.2%AU$245.00AU$148.00n/a13
Jan ’23AU$205.40
AU$208.26
+1.4%
12.2%AU$245.00AU$148.00AU$166.9613
Dec ’22AU$195.69
AU$206.23
+5.4%
12.5%AU$245.00AU$148.00AU$182.1012
Nov ’22AU$198.67
AU$206.32
+3.8%
12.5%AU$245.00AU$148.00AU$172.0012
Oct ’22AU$176.70
AU$176.93
+0.1%
10.8%AU$211.00AU$135.00AU$152.7412
Sep ’22AU$166.80
AU$162.98
-2.3%
9.8%AU$189.00AU$135.00AU$174.4511
Aug ’22AU$156.90
AU$162.98
+3.9%
9.8%AU$189.00AU$135.00AU$179.9011
Jul ’22AU$154.73
AU$162.03
+4.7%
9.2%AU$184.00AU$135.00AU$164.2411
Jun ’22AU$150.38
AU$160.18
+6.5%
9.0%AU$184.00AU$135.00AU$188.3813
May ’22AU$160.49
AU$153.69
-4.2%
10.7%AU$182.00AU$125.00AU$206.9813
Apr ’22AU$152.12
AU$152.38
+0.2%
10.1%AU$182.00AU$125.00AU$206.0013
Mar ’22AU$145.35
AU$151.86
+4.5%
9.9%AU$182.00AU$125.00AU$183.0514
Feb ’22AU$132.13
AU$142.61
+7.9%
7.1%AU$155.00AU$125.00AU$188.6214
Jan ’22AU$138.48
AU$143.43
+3.6%
6.1%AU$153.32AU$125.00AU$205.4013

Analyst Forecast: Target price is less than 20% higher than the current share price.


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