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PNI

Pinnacle Investment Management GroupASX:PNI Stock Report

Market Cap

AU$2.8b

7D

5.9%

1Y

188.3%

Updated

16 Oct, 2021

Data

Company Financials +
PNI fundamental analysis
Snowflake Score
Valuation0/6
Future Growth4/6
Past Performance6/6
Financial Health4/6
Dividends3/6

PNI Overview

Pinnacle Investment Management Group Limited operates as an investment management company in Australia.

Price History & Performance

Summary of all time highs, changes and price drops for Pinnacle Investment Management Group
Historical stock prices
Current Share PriceAU$15.74
52 Week HighAU$4.88
52 Week LowAU$18.60
Beta1.72
1 Month Change-4.02%
3 Month Change27.86%
1 Year Change188.28%
3 Year Change144.03%
5 Year Change635.51%
Change since IPO361.58%

Recent News & Updates

Shareholder Returns

PNIAU Capital MarketsAU Market
7D5.9%1.9%0.9%
1Y188.3%21.7%20.2%

Return vs Industry: PNI exceeded the Australian Capital Markets industry which returned 21.7% over the past year.

Return vs Market: PNI exceeded the Australian Market which returned 20.2% over the past year.

Price Volatility

Is PNI's price volatile compared to industry and market?
PNI volatility
PNI Beta1.72
Industry Beta0.98
Market Beta1

Stable Share Price: PNI is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PNI's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1895n/aIan Macounhttps://www.pinnacleinvestment.com

Pinnacle Investment Management Group Limited operates as an investment management company in Australia. The company offers third party distribution, and fund infrastructure and support services to its affiliates and various investment managers. It also operates as a corporate trustee and responsible entity for retail and wholesale investment trusts.

Pinnacle Investment Management Group Fundamentals Summary

How do Pinnacle Investment Management Group's earnings and revenue compare to its market cap?
PNI fundamental statistics
Market CapAU$2.84b
Earnings (TTM)AU$67.02m
Revenue (TTM)AU$32.51m

42.4x

P/E Ratio

87.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PNI income statement (TTM)
RevenueAU$32.51m
Cost of RevenueAU$24.78m
Gross ProfitAU$7.74m
Expenses-AU$59.28m
EarningsAU$67.02m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.37
Gross Margin23.80%
Net Profit Margin206.12%
Debt/Equity Ratio41.0%

How did PNI perform over the long term?

See historical performance and comparison

Dividends

2.2%

Current Dividend Yield

75%

Payout Ratio

Valuation

Is Pinnacle Investment Management Group undervalued compared to its fair value and its price relative to the market?

42.43x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PNI (A$15.74) is trading above our estimate of fair value (A$12.76)

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


Price To Earnings Ratio

PE vs Industry: PNI is poor value based on its PE Ratio (42.4x) compared to the Australian Capital Markets industry average (16.3x).

PE vs Market: PNI is poor value based on its PE Ratio (42.4x) compared to the Australian market (19.8x).


Price to Earnings Growth Ratio

PEG Ratio: PNI is poor value based on its PEG Ratio (2.7x)


Price to Book Ratio

PB vs Industry: PNI is overvalued based on its PB Ratio (11.7x) compared to the AU Capital Markets industry average (1.4x).


Future Growth

How is Pinnacle Investment Management Group forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

15.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PNI's forecast earnings growth (15.6% per year) is above the savings rate (1.9%).

Earnings vs Market: PNI's earnings (15.6% per year) are forecast to grow faster than the Australian market (11.8% per year).

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

Revenue vs Market: PNI's revenue (13.1% per year) is forecast to grow faster than the Australian market (5.4% per year).

High Growth Revenue: PNI's revenue (13.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PNI's Return on Equity is forecast to be high in 3 years time (39.9%)


Past Performance

How has Pinnacle Investment Management Group performed over the past 5 years?

37.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PNI has high quality earnings.

Growing Profit Margin: PNI's current net profit margins are higher than last year .


Past Earnings Growth Analysis

Earnings Trend: PNI's earnings have grown significantly by 37.1% per year over the past 5 years.

Accelerating Growth: PNI's earnings growth over the past year (107.1%) exceeds its 5-year average (37.1% per year).

Earnings vs Industry: PNI earnings growth over the past year (107.1%) exceeded the Capital Markets industry 12.8%.


Return on Equity

High ROE: PNI's Return on Equity (27.5%) is considered high.


Financial Health

How is Pinnacle Investment Management Group's financial position?


Financial Position Analysis

Short Term Liabilities: PNI's short term assets (A$173.4M) exceed its short term liabilities (A$20.6M).

Long Term Liabilities: PNI's short term assets (A$173.4M) exceed its long term liabilities (A$101.7M).


Debt to Equity History and Analysis

Debt Level: PNI's debt to equity ratio (41%) is considered high.

Reducing Debt: Insufficient data to determine if PNI's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: PNI's debt is well covered by operating cash flow (33%).

Interest Coverage: PNI's interest payments on its debt are well covered by EBIT (4x coverage).


Balance Sheet


Dividend

What is Pinnacle Investment Management Group current dividend yield, its reliability and sustainability?

2.16%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PNI's dividend (2.16%) isn’t notable compared to the bottom 25% of dividend payers in the Australian market (2.27%).

High Dividend: PNI's dividend (2.16%) is low compared to the top 25% of dividend payers in the Australian market (5.32%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (75.1%), PNI's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PNI's dividends in 3 years are forecast to be covered by earnings (81% payout ratio).


Next Steps

Management

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

5.2yrs

Average management tenure


CEO

Ian Macoun

5.17yrs

Tenure

AU$1,347,068

Compensation

Mr. Ian Macoun, CFA, B Com, MFM, DipFinSer(FP), FCPA, FAICD, serves as the Non-Executive Director at Resolution Capital Limited. Mr. Macoun has been the Managing Director and Chairman of Pinnacle Investmen...


CEO Compensation Analysis

Compensation vs Market: Ian's total compensation ($USD999.83K) is about average for companies of similar size in the Australian market ($USD1.41M).

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


Leadership Team

Experienced Management: PNI's management team is seasoned and experienced (5.2 years average tenure).


Board Members

Experienced Board: PNI's board of directors are considered experienced (5.1 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: PNI insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.6%.


Top Shareholders

Company Information

Pinnacle Investment Management Group Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Pinnacle Investment Management Group Limited
  • Ticker: PNI
  • Exchange: ASX
  • Founded: 1895
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: AU$2.843b
  • Shares outstanding: 180.65m
  • Website: https://www.pinnacleinvestment.com

Number of Employees


Location

  • Pinnacle Investment Management Group Limited
  • 60 Margaret Street
  • Level 35
  • Sydney
  • New South Wales
  • 2000
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/16 07:04
End of Day Share Price2021/10/15 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


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.