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MQG

Macquarie Group ASX:MQG Stock Report

Last Price

AU$162.10

Market Cap

AU$58.8b

7D

2.6%

1Y

-8.8%

Updated

05 Oct, 2022

Data

Company Financials +
MQG fundamental analysis
Snowflake Score
Valuation4/6
Future Growth1/6
Past Performance5/6
Financial Health3/6
Dividends4/6

MQG Stock Overview

Macquarie Group Limited provides diversified financial services in Australia, the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Macquarie Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Macquarie Group
Historical stock prices
Current Share PriceAU$162.10
52 Week HighAU$217.32
52 Week LowAU$149.51
Beta1.12
1 Month Change-9.62%
3 Month Change-5.01%
1 Year Change-8.78%
3 Year Change29.26%
5 Year Change74.40%
Change since IPO2,183.43%

Recent News & Updates

Shareholder Returns

MQGAU Capital MarketsAU Market
7D2.6%0.9%3.6%
1Y-8.8%-16.1%-8.0%

Return vs Industry: MQG exceeded the Australian Capital Markets industry which returned -16.1% over the past year.

Return vs Market: MQG underperformed the Australian Market which returned -8% over the past year.

Price Volatility

Is MQG's price volatile compared to industry and market?
MQG volatility
MQG Average Weekly Movement4.1%
Capital Markets Industry Average Movement5.6%
Market Average Movement9.4%
10% most volatile stocks in AU Market16.5%
10% least volatile stocks in AU Market4.2%

Stable Share Price: MQG is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: MQG's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
196918,133Shemara Wikramanayakehttps://www.macquarie.com.au

Macquarie Group Limited provides diversified financial services in Australia, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Macquarie Asset Management (MAM), Banking and Financial Services (BFS), Commodities and Global Markets (CGM), and Macquarie Capital. The MAM segment provides investment solutions to clients across various capabilities in private markets and public investments, including infrastructure, green investments, agriculture and natural assets, real estate, private credit, asset finance, equities, fixed income, and multi-asset solutions.

Macquarie Group Fundamentals Summary

How do Macquarie Group's earnings and revenue compare to its market cap?
MQG fundamental statistics
Market CapAU$58.83b
Earnings (TTM)AU$4.56b
Revenue (TTM)AU$17.40b

13.2x

P/E Ratio

3.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MQG income statement (TTM)
RevenueAU$17.40b
Cost of RevenueAU$0
Gross ProfitAU$17.40b
Other ExpensesAU$12.84b
EarningsAU$4.56b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Oct 28, 2022

Earnings per share (EPS)12.27
Gross Margin100.00%
Net Profit Margin26.20%
Debt/Equity Ratio778.8%

How did MQG perform over the long term?

See historical performance and comparison

Dividends

3.8%

Current Dividend Yield

49%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 Ratio3.4x

Price to Earnings Ratio vs Peers

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

MQG PE Ratio vs 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 Average20.3x
ASX ASX
27.7x4.3%AU$14.1b
AFI Australian Foundation Investment
25.4xn/aAU$9.1b
ARG Argo Investments
21.5xn/aAU$6.7b
UBSG UBS Group
6.4x2.9%CHF49.9b
MQG Macquarie Group
13.2x3.9%AU$60.2b

Price-To-Earnings vs Peers: MQG is good value based on its Price-To-Earnings Ratio (13.2x) compared to the peer average (20.3x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: MQG is good value based on its Price-To-Earnings Ratio (13.2x) compared to the Australian Capital Markets industry average (16.6x)


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 Ratio13.2x
Fair PE Ratio21.5x

Price-To-Earnings vs Fair Ratio: MQG is good value based on its Price-To-Earnings Ratio (13.2x) compared to the estimated Fair Price-To-Earnings Ratio (21.5x).


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$162.1) is trading above our estimate of fair value (A$116.89)

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?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Macquarie Group forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


3.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MQG's forecast earnings growth (3.9% per year) is above the savings rate (1.8%).

Earnings vs Market: MQG's earnings (3.9% per year) are forecast to grow slower than the Australian market (6.5% per year).

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

Revenue vs Market: MQG's revenue (1.5% per year) is forecast to grow slower than the Australian market (3.6% per year).

High Growth Revenue: MQG's revenue (1.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MQG's Return on Equity is forecast to be low in 3 years time (13.3%).


Discover growth companies

Past Performance

How has Macquarie Group performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


11.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MQG has high quality earnings.

Growing Profit Margin: MQG's current net profit margins (26.2%) are higher than last year (22.6%).


Past Earnings Growth Analysis

Earnings Trend: MQG's earnings have grown by 11.7% per year over the past 5 years.

Accelerating Growth: MQG's earnings growth over the past year (56.3%) exceeds its 5-year average (11.7% per year).

Earnings vs Industry: MQG earnings growth over the past year (56.3%) exceeded the Capital Markets industry 22.1%.


Return on Equity

High ROE: MQG's Return on Equity (17.2%) is considered low.


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Financial Health

How is Macquarie Group's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

3/6

Financial Health Score 3/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: MQG's Assets to Equity ratio (13.9x) is moderate.

Allowance for Bad Loans: MQG has a low allowance for bad loans (63%).

Low Risk Liabilities: 73% of MQG's liabilities are made up of primarily higher risk sources of funding.

Loan Level: MQG has an appropriate level of Loans to Assets ratio (34%).

Low Risk Deposits: MQG's Loans to Deposits ratio (133%) is high.

Level of Bad Loans: MQG has an appropriate level of bad loans (1.2%).


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Dividend

What is Macquarie Group current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.84%

Current Dividend Yield

Dividend Yield vs Market

Macquarie Group Dividend Yield vs Market
How does Macquarie Group dividend yield compare to the market?
SegmentDividend Yield
Company (Macquarie Group)3.8%
Market Bottom 25% (AU)2.8%
Market Top 25% (AU)7.0%
Industry Average (Capital Markets)4.3%
Analyst forecast in 3 Years (Macquarie Group)4.2%

Notable Dividend: MQG's dividend (3.84%) is higher than the bottom 25% of dividend payers in the Australian market (2.79%).

High Dividend: MQG's dividend (3.84%) is low compared to the top 25% of dividend payers in the Australian market (6.98%).


Stability and Growth of Payments

Stable Dividend: MQG's dividend payments have been volatile in the past 10 years.

Growing Dividend: MQG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (48.9%), MQG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MQG's dividends in 3 years are forecast to be covered by earnings (60.9% payout ratio).


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Shemara Wikramanayake (61 yo)

4.17yrs

Tenure

AU$23,718,378

Compensation

Ms. Shemara R. Wikramanayake, LLB, BCom (UNSW), has been an Executive Voting Director of Macquarie Group Limited and Macquarie Bank Ltd. since August 28, 2018. Ms. Wikramanayake has been Managing Director...


CEO Compensation Analysis

Shemara Wikramanayake's Compensation vs Macquarie Group Earnings
How has Shemara Wikramanayake's remuneration changed compared to Macquarie Group's earnings?
DateTotal Comp.SalaryCompany Earnings
Mar 31 2022AU$24mAU$821k

AU$5b

Dec 31 2021n/an/a

AU$4b

Sep 30 2021n/an/a

AU$4b

Jun 30 2021n/an/a

AU$3b

Mar 31 2021AU$16mAU$820k

AU$3b

Dec 31 2020n/an/a

AU$3b

Sep 30 2020n/an/a

AU$2b

Jun 30 2020n/an/a

AU$2b

Mar 31 2020AU$15mAU$796k

AU$3b

Dec 31 2019n/an/a

AU$3b

Sep 30 2019n/an/a

AU$3b

Jun 30 2019n/an/a

AU$3b

Mar 31 2019AU$18mAU$723k

AU$3b

Dec 31 2018n/an/a

AU$3b

Sep 30 2018n/an/a

AU$3b

Jun 30 2018n/an/a

AU$2b

Mar 31 2018AU$19mAU$722k

AU$2b

Dec 31 2017n/an/a

AU$2b

Sep 30 2017n/an/a

AU$2b

Jun 30 2017n/an/a

AU$2b

Mar 31 2017AU$17mAU$722k

AU$2b

Dec 31 2016n/an/a

AU$2b

Sep 30 2016n/an/a

AU$2b

Jun 30 2016n/an/a

AU$2b

Mar 31 2016AU$18mAU$723k

AU$2b

Compensation vs Market: Shemara's total compensation ($USD15.41M) is above average for companies of similar size in the Australian market ($USD4.04M).

Compensation vs Earnings: Shemara's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: MQG's management team is considered experienced (3.8 years average tenure).


Board Members

Experienced Board: MQG's board of directors are considered experienced (4.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

ASX:MQG Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
09 Jun 22BuyAU$113,242Michael RocheIndividual632AU$179.18
18 May 22BuyAU$47,759,595UBS Asset ManagementCompany262,807AU$181.73
18 May 22BuyAU$1,887,305J.P. Morgan Asset Management, Inc.Company10,433AU$182.25
18 May 22BuyAU$1,904,886JPMorgan Chase & Co, Brokerage and Securities InvestmentsCompany10,502AU$183.04
18 May 22BuyAU$0State Street Global Advisors, Inc.Company5,690AU$183.15
18 May 22SellAU$33,555,699UBS Asset ManagementCompany184,636AU$181.74
18 May 22SellAU$544,270JPMorgan Chase & Co, Brokerage and Securities InvestmentsCompany3,007AU$181.50
18 May 22SellAU$43,923State Street Global Advisors, Inc.Company12,414AU$181.50
17 May 22BuyAU$3,536,466,551UBS Asset ManagementCompany18,512,936AU$195.50
17 May 22SellAU$3,481,088,395UBS Asset ManagementCompany18,150,876AU$193.45
17 May 22SellAU$3,600J.P. Morgan Asset Management, Inc.Company20AU$180.00
16 May 22BuyAU$863,049,760JPMorgan Chase & Co, Brokerage and Securities InvestmentsCompany4,544,117AU$196.69
16 May 22SellAU$97,381,222J.P. Morgan Asset Management, Inc.Company509,443AU$191.18
16 May 22SellAU$944,729,587JPMorgan Chase & Co, Brokerage and Securities InvestmentsCompany4,996,439AU$189.08
13 May 22BuyAU$74,340Rebecca McGrathIndividual420AU$177.00
13 May 22BuyAU$178,000Glenn StevensIndividual1,000AU$178.00
13 May 22BuyAU$74,340Rebecca McGrathIndividual420AU$177.00
13 May 22BuyAU$178,000Glenn StevensIndividual1,000AU$178.00
13 May 22BuyAU$140,237,691State Street Global Advisors, Inc.Company665,160AU$211.04
12 May 22BuyAU$2,572,930JPMorgan Chase & Co, Private Banking and Investment Banking InvestmentsCompany13,015AU$218.36
12 May 22SellAU$6,374,143JPMorgan Chase & Co, Private Banking and Investment Banking InvestmentsCompany33,190AU$201.05
10 May 22BuyAU$382,222Michelle HinchliffeIndividual2,127AU$181.26
29 Apr 22BuyAU$16,890,152J.P. Morgan Asset Management, Inc.Company93,220AU$192.60
03 Dec 21BuyAU$191Stuart GreenIndividual156AU$1.23
03 Dec 21BuyAU$191Nicola M. EvansIndividual156AU$1.23
02 Nov 21BuyAU$392Rebecca McGrathIndividual1,030AU$0.38
02 Nov 21BuyAU$201,675Rebecca McGrathIndividual1,030AU$195.86
01 Nov 21BuyAU$99,335Jillian BroadbentIndividual500AU$198.67
01 Nov 21SellAU$99,335Jillian BroadbentIndividual500AU$198.67

Ownership Breakdown

What is the ownership structure of MQG?
Owner TypeNumber of SharesOwnership Percentage
Public Companies35,8460.01%
Private Companies56,6700.02%
Individual Insiders1,243,6890.3%
Institutions93,641,18225.2%
General Public276,699,26674.4%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.1%.


Top Shareholders

Top 25 shareholders own 21.89% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
4.68%
The Vanguard Group, Inc.
17,409,864A$2.8b0%0.04%
4.62%
State Street Global Advisors, Inc.
17,163,514A$2.8b871.35%0.1%
4.54%
BlackRock, Inc.
16,862,539A$2.7b-27.96%0.04%
1.45%
UBS Asset Management
5,394,093A$874.4m-64.57%0.11%
1.21%
Norges Bank Investment Management
4,514,669A$731.8m0%0.06%
0.59%
Geode Capital Management, LLC
2,177,243A$352.9m1.17%0.03%
0.58%
J.P. Morgan Asset Management, Inc.
2,165,115A$351.0m4.47%0.04%
0.41%
FMR LLC
1,535,514A$248.9m1.62%0.01%
0.37%
Massachusetts Financial Services Company
1,361,976A$220.8m-2.9%0.04%
0.36%
Fidelity International Ltd
1,322,674A$214.4m0%0.07%
0.29%
Shemara Wikramanayake
1,088,094A$176.4m2.73%no data
0.29%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
1,079,632A$175.0m5.14%0.04%
0.28%
T. Rowe Price Group, Inc.
1,034,601A$167.7m-0.15%0.01%
0.23%
RBC Global Asset Management Inc.
843,437A$136.7m-0.02%0.07%
0.23%
Charles Schwab Investment Management, Inc.
838,615A$135.9m2.8%0.02%
0.21%
Aegon Asset Management UK Plc
773,666A$125.4m-1.23%0.39%
0.19%
JPMorgan Chase & Co, Brokerage and Securities Investments
723,296A$117.2m-14.61%0.08%
0.19%
BKI Investment Company Limited
707,207A$114.6m7.94%9.36%
0.18%
Boston Partners Global Investors, Inc.
685,107A$111.1m0.27%0.06%
0.18%
Franklin Resources, Inc.
665,310A$107.8m16.63%0.03%
0.18%
BetaShares Capital Limited
665,137A$107.8m4.04%0.86%
0.17%
Strategic Advisers LLC
645,189A$104.6m29.71%0.06%
0.16%
CIBC Asset Management Inc.
597,520A$96.9m-25.51%0.16%
0.15%
Amundi Asset Management
573,669A$93.0m59.89%0.02%
0.15%
Jupiter Fund Management Plc
544,776A$88.3m0%0.19%

Company Information

Macquarie Group Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Macquarie Group Limited
  • Ticker: MQG
  • Exchange: ASX
  • Founded: 1969
  • Industry: Diversified Capital Markets
  • Sector: Diversified Financials
  • Implied Market Cap: AU$58.829b
  • Shares outstanding: 371.68m
  • Website: https://www.macquarie.com.au

Number of Employees


Location

  • Macquarie Group Limited
  • 50 Martin Place
  • Level 6
  • Sydney
  • New South Wales
  • 2000
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MQGASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJul 1996
4M4DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 1996
MCQE.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 1996
MQGCHIA (Chi-X Australia)YesOrdinary SharesAUAUDJul 1996
MQBK.YOTCPK (Pink Sheets LLC)ADR NEWUSUSDJun 2005
MQGPCASX (Australian Securities Exchange)FRN PERP AUD1000AUAUDJun 2018
MQGPEASX (Australian Securities Exchange)FRN PERP AUD5000AUAUDMar 2021
MQGPECHIA (Chi-X Australia)FRN PERP AUD5000AUAUDMar 2021
MQGPFASX (Australian Securities Exchange)FRN PERP AUD5000AUAUDJul 2022

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Earnings2022/03/31
Annual Earnings2022/03/31


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 here.