Perpetual Limited

ASX:PPT Stock Report

Market Cap: AU$2.2b

Perpetual Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: PPT (A$19.61) is trading below our estimate of fair value (A$33.27)

Significantly Below Fair Value: PPT is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As PPT is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PPT. This is calculated by dividing PPT's market cap by their current revenue.
What is PPT's PS Ratio?
PS Ratio1.6x
SalesAU$1.36b
Market CapAU$2.21b

Price to Sales Ratio vs Peers

How does PPT's PS Ratio compare to its peers?

The above table shows the PS ratio for PPT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average11.7x
MFF MFF Capital Investments
4.1xn/aAU$2.7b
IFL Insignia Financial
1.2x-6.7%AU$2.4b
BKI BKI Investment
19.8xn/aAU$1.4b
AUI Australian United Investment
21.9xn/aAU$1.3b
PPT Perpetual
1.6x2.8%AU$2.2b

Price-To-Sales vs Peers: PPT is good value based on its Price-To-Sales Ratio (1.6x) compared to the peer average (11.7x).

Price to Sales Ratio vs Industry

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

17 CompaniesPrice / SalesEstimated GrowthMarket Cap
IFL Insignia Financial
1.2x-6.7%US$1.48b
MAF MA Financial Group
0.9x-31.6%US$568.04m
COG COG Financial Services
0.4x6.2%US$110.71m
EZL Euroz Hartleys Group
1.5xn/aUS$83.11m
PPT 1.6xIndustry Avg. 5.8xNo. of Companies17PS0612182430+
17 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PPT is good value based on its Price-To-Sales Ratio (1.6x) compared to the Australian Capital Markets industry average (5.8x).

Price to Sales Ratio vs Fair Ratio

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

PPT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.6x
Fair PS Ratio2.7x

Price-To-Sales vs Fair Ratio: PPT is good value based on its Price-To-Sales Ratio (1.6x) compared to the estimated Fair Price-To-Sales Ratio (2.7x).

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 PPT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$19.61
AU$23.19
+18.3%
5.8%AU$24.76AU$20.60n/a10
Dec ’25AU$21.68
AU$23.11
+6.6%
5.7%AU$24.76AU$20.60n/a10
Nov ’25AU$20.27
AU$23.11
+14.0%
5.7%AU$24.76AU$20.60n/a10
Oct ’25AU$18.70
AU$23.92
+27.9%
15.3%AU$33.92AU$20.60n/a11
Sep ’25AU$19.65
AU$24.09
+22.6%
14.8%AU$33.92AU$21.20n/a11
Aug ’25AU$21.88
AU$24.74
+13.1%
13.4%AU$33.92AU$21.75n/a11
Jul ’25AU$21.39
AU$25.98
+21.5%
11.0%AU$33.92AU$23.25n/a10
Jun ’25AU$21.65
AU$25.93
+19.8%
11.1%AU$33.92AU$23.25n/a10
May ’25AU$23.34
AU$26.86
+15.1%
9.8%AU$33.92AU$24.50n/a9
Apr ’25AU$25.09
AU$26.74
+6.6%
10.6%AU$33.92AU$22.30n/a10
Mar ’25AU$24.41
AU$26.76
+9.6%
10.6%AU$33.92AU$22.30n/a10
Feb ’25AU$25.35
AU$26.82
+5.8%
5.8%AU$28.67AU$23.00n/a9
Jan ’25AU$25.48
AU$26.14
+2.6%
6.4%AU$28.67AU$23.50n/a9
Dec ’24AU$22.54
AU$25.72
+14.1%
8.6%AU$28.00AU$22.10AU$21.6811
Nov ’24AU$19.20
AU$25.72
+33.9%
8.6%AU$28.00AU$22.10AU$20.2711
Oct ’24AU$20.95
AU$27.06
+29.2%
7.5%AU$30.50AU$23.50AU$18.7011
Sep ’24AU$21.12
AU$28.21
+33.6%
15.2%AU$40.84AU$23.50AU$19.6512
Aug ’24AU$25.15
AU$30.79
+22.4%
11.2%AU$40.84AU$26.00AU$21.8812
Jul ’24AU$25.88
AU$31.03
+19.9%
11.0%AU$40.84AU$26.60AU$21.3913
Jun ’24AU$24.49
AU$31.03
+26.7%
11.0%AU$40.84AU$26.60AU$21.6513
May ’24AU$24.90
AU$30.72
+23.4%
11.9%AU$40.84AU$26.00AU$23.3413
Apr ’24AU$21.96
AU$30.52
+39.0%
11.7%AU$40.84AU$26.00AU$25.0913
Mar ’24AU$24.48
AU$30.52
+24.7%
11.7%AU$40.84AU$26.00AU$24.4113
Feb ’24AU$25.49
AU$29.98
+17.6%
9.8%AU$36.09AU$26.30AU$25.3512
Jan ’24AU$24.60
AU$30.28
+23.1%
14.5%AU$38.73AU$22.00AU$25.4812
Dec ’23AU$25.21
AU$30.33
+20.3%
15.1%AU$38.73AU$22.00AU$22.5411

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/20 16:43
End of Day Share Price 2024/12/20 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Perpetual Limited is covered by 23 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Russell WrightBarclay Pearce Capital Pty Limited
Marcus BarnardBell Potter
Lara TufegdzicBofA Global Research