Pinnacle Investment Management Group Limited

ASX:PNI Stock Report

Mkt Cap: AU$1.9b

We’ve recently updated our valuation analysis.

Pinnacle Investment Management Group Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 PNI?

Other financial metrics that can be useful for relative valuation.

PNI 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/Revenue39.9x
Enterprise Value/EBITDA174.9x
PEG Ratio2x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PNI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average46.8x
IFL Insignia Financial
82.9x33.7%AU$2.3b
PPT Perpetual
28.1x23.1%AU$2.8b
NWL Netwealth Group
59.3x16.7%AU$3.3b
BKI BKI Investment
16.8xn/aAU$1.4b
PNI Pinnacle Investment Management Group
24.7x12.7%AU$1.9b

Price-To-Earnings vs Peers: PNI is good value based on its Price-To-Earnings Ratio (24.7x) compared to the peer average (46.8x).


Price to Earnings Ratio vs Industry

How does PNI'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: PNI is expensive based on its Price-To-Earnings Ratio (24.7x) compared to the Australian Capital Markets industry average (17.6x)


Price to Earnings Ratio vs Fair Ratio

What is PNI'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.

PNI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.7x
Fair PE Ratio14.3x

Price-To-Earnings vs Fair Ratio: PNI is expensive based on its Price-To-Earnings Ratio (24.7x) compared to the estimated Fair Price-To-Earnings Ratio (14.3x).


Share Price vs Fair Value

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

Below Fair Value: PNI (A$9.65) is trading above our estimate of fair value (A$8.15)

Significantly Below Fair Value: PNI 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 PNI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$9.65
AU$11.05
+14.5%
11.0%AU$12.90AU$8.50n/a8
Jan ’24AU$8.73
AU$11.35
+30.0%
13.5%AU$14.20AU$8.75n/a8
Dec ’23AU$9.29
AU$11.31
+21.7%
15.8%AU$14.20AU$8.00n/a8
Nov ’23AU$8.57
AU$11.41
+33.1%
15.7%AU$14.20AU$8.00n/a8
Oct ’23AU$8.31
AU$12.33
+48.4%
10.7%AU$14.70AU$10.26n/a8
Sep ’23AU$9.99
AU$12.33
+23.4%
10.7%AU$14.70AU$10.26n/a8
Aug ’23AU$10.31
AU$11.18
+8.4%
15.0%AU$13.69AU$9.50n/a7
Jul ’23AU$7.25
AU$12.41
+71.2%
14.9%AU$15.00AU$9.50n/a7
Jun ’23AU$8.23
AU$13.41
+62.9%
14.0%AU$16.66AU$10.50n/a7
May ’23AU$9.51
AU$14.96
+57.3%
8.6%AU$16.89AU$13.25n/a7
Apr ’23AU$10.66
AU$15.05
+41.2%
9.4%AU$17.30AU$13.25n/a7
Mar ’23AU$10.34
AU$15.36
+48.6%
8.3%AU$17.30AU$13.90n/a7
Feb ’23AU$11.49
AU$16.74
+45.7%
11.1%AU$18.79AU$13.20AU$9.656
Jan ’23AU$15.61
AU$17.10
+9.5%
11.3%AU$19.22AU$13.20AU$8.736
Dec ’22AU$15.85
AU$17.10
+7.9%
11.3%AU$19.22AU$13.20AU$9.296
Nov ’22AU$17.62
AU$16.40
-6.9%
15.7%AU$19.65AU$12.00AU$8.576
Oct ’22AU$15.30
AU$15.53
+1.5%
14.8%AU$19.65AU$12.00AU$8.316
Sep ’22AU$17.05
AU$14.98
-12.2%
10.0%AU$16.50AU$12.00AU$9.996
Aug ’22AU$13.14
AU$12.59
-4.2%
12.7%AU$16.00AU$11.00AU$10.316
Jul ’22AU$11.35
AU$11.40
+0.5%
5.0%AU$12.50AU$11.00AU$7.255
Jun ’22AU$10.27
AU$11.40
+11.0%
5.0%AU$12.50AU$11.00AU$8.235
May ’22AU$10.60
AU$10.28
-3.0%
10.0%AU$12.00AU$9.40AU$9.514
Apr ’22AU$9.33
AU$9.70
+4.0%
2.7%AU$10.11AU$9.40AU$10.664
Mar ’22AU$8.99
AU$9.54
+6.1%
1.1%AU$9.68AU$9.40AU$10.344
Feb ’22AU$7.12
AU$7.87
+10.5%
1.7%AU$8.00AU$7.65AU$11.494

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


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