OFX Group Full Year 2023 Earnings: In Line With Expectations

OFX Group (ASX:OFX) Full Year 2023 Results

Key Financial Results

• Revenue: AU$228.9m (up 45% from FY 2022).
• Net income: AU$31.4m (up 28% from FY 2022).
• Profit margin: 14% (down from 15% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: AU$0.13 (up from AU$0.10 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

OFX Group Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

Looking ahead, revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Diversified Financial industry in Australia.

Performance of the Australian Diversified Financial industry.

The company's shares are up 22% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on OFX Group's balance sheet.

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