Buy Or Sell Opportunity • Jun 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.8% to AU$1.49. The fair value is estimated to be AU$1.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.3% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 123% in 2 years. Earnings are forecast to grow by 20% in the next 2 years. Buy Or Sell Opportunity • May 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to AU$1.50. The fair value is estimated to be AU$1.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.3% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 125% in 2 years. Earnings are forecast to grow by 15% in the next 2 years. Recent Insider Transactions • May 01
Independent Non-Executive Chairman recently bought AU$70k worth of stock On the 22nd of April, Stuart Robertson bought around 45k shares on-market at roughly AU$1.58 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stuart has been a buyer over the last 12 months, purchasing a net total of AU$86k worth in shares. Announcement • Feb 11
Solvar Limited to Report First Half, 2026 Results on Feb 18, 2026 Solvar Limited announced that they will report first half, 2026 results on Feb 18, 2026 Announcement • Oct 16
Solvar Limited, Annual General Meeting, Nov 14, 2025 Solvar Limited, Annual General Meeting, Nov 14, 2025. Location: bourke 3 room level 2, racv club, 501 bourke street, melbourne victoria 3000 Australia Declared Dividend • Aug 30
Final dividend of AU$0.08 announced Shareholders will receive a dividend of AU$0.08. Ex-date: 3rd September 2025 Payment date: 8th October 2025 Dividend yield will be 8.0%, which is higher than the industry average of 5.7%. Sustainability & Growth Dividend is covered by both earnings (8% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 18
Solvar Limited to Report Fiscal Year 2025 Results on Aug 28, 2025 Solvar Limited announced that they will report fiscal year 2025 results on Aug 28, 2025 Announcement • May 23
Solvar Limited (ASX:SVR) acquired 19.90% stake in Earlypay Limited (ASX:EPY). Solvar Limited (ASX:SVR) acquired 19.90% stake in Earlypay Limited (ASX:EPY) on May 23, 2025.
Solvar Limited (ASX:SVR) completed the acquisition of 19.90% stake in Earlypay Limited (ASX:EPY) on May 23, 2025. Announcement • Feb 17
Solvar Limited to Report First Half, 2025 Results on Feb 25, 2025 Solvar Limited announced that they will report first half, 2025 results on Feb 25, 2025 Announcement • Aug 29
Solvar Limited Appoints Craig Parker as Independent Non- Executive Director, Effective from 18 September 2024 Solvar Limited announce the appointment of Mr. Craig Parker as independent Non- Executive Director of Solvar Limited commencing 18th September 2024. Mr. Parker has had a long and distinguished career with Westpac Banking Corporation spanning over 41 years until his retirement in 2023. Prior to retirement Mr. Parker was responsible for Westpac's global structured finance and securitisation activities for over seventeen years. Westpac dominates the Securitisation and Structured Finance market across Australia and New Zealand in all major asset classes including automotive loans. Mr. Parker holds a BA (Economics), B.Ec (Accounting & Finance) and an MBA from Macquarie University, Sydney, and is a Certified Practicing Accountant. Mr. Parker was recently recognised as a Fellow of the Australian Securitisation Forum for his contribution to the Securitisation industry. In addition to this directorship at Solvar Limited, Mr. Parker is a Director of Forsight Australia, a disability accommodation and services organisation, chairing the Finance, Risk and Audit Committee, and a Director of Firstmac Limited, a major non-Bank Residential Mortgage company, chairing its Audit Committee. Announcement • Aug 22
Solvar Limited Announces Ordinary Fully Paid Dividend for the Six Months Ended June 30, 2024, Payable on 11 October 2024 Solvar Limited announced ordinary fully paid dividend for the six months ended June 30, 2024 of AUD 0.05000000. Ex-dividend date is 3 September 2024. Record date is 4 September 2024. Payment date is 11 October 2024. Declared Dividend • Aug 22
Final dividend of AU$0.05 announced Shareholders will receive a dividend of AU$0.05. Ex-date: 3rd September 2024 Payment date: 11th October 2024 Dividend yield will be 8.1%, which is higher than the industry average of 5.7%. Sustainability & Growth Dividend is covered by earnings (83% earnings payout ratio) but not covered by cash flows (192% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 100% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 23
Solvar Limited to Report Fiscal Year 2024 Results on Aug 20, 2024 Solvar Limited announced that they will report fiscal year 2024 results on Aug 20, 2024 Announcement • May 14
Solvar Limited (ASX:SVR) announces an Equity Buyback for AUD 15 million worth of its shares. Solvar Limited (ASX:SVR) announces a share repurchase program. Under the program, the company will repurchase up to AUD 15 million worth of it's shares. The repurchase program is valid till June 2, 2025. As of May 13, 2024, the company has 211,216,499 issued and outstanding shares. Recent Insider Transactions • Feb 28
CEO, MD & Executive Director recently sold AU$215k worth of stock On the 23rd of February, Scott Baldwin sold around 205k shares on-market at roughly AU$1.05 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Scott's only on-market trade for the last 12 months. Upcoming Dividend • Feb 26
Upcoming dividend of AU$0.05 per share Eligible shareholders must have bought the stock before 04 March 2024. Payment date: 19 April 2024. Payout ratio is on the higher end at 83% but the company is not cash flow positive. Trailing yield: 17%. Within top quartile of Australian dividend payers (6.5%). Higher than average of industry peers (5.7%). Declared Dividend • Feb 22
First half dividend of AU$0.05 announced Shareholders will receive a dividend of AU$0.05. Ex-date: 4th March 2024 Payment date: 19th April 2024 Dividend yield will be 13%, which is higher than the industry average of 5.7%. Sustainability & Growth Dividend is covered by earnings (83% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 1.6% over the next 3 years. However, it would need to fall by 7.3% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Feb 21
First half 2024 earnings released: EPS: AU$0.063 (vs AU$0.12 in 1H 2023) First half 2024 results: EPS: AU$0.063 (down from AU$0.12 in 1H 2023). Revenue: AU$109.7m (up 5.9% from 1H 2023). Net income: AU$13.2m (down 49% from 1H 2023). Profit margin: 12% (down from 25% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Consumer Finance industry in Australia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. New Risk • Feb 20
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 16% Last year net profit margin: 26% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (16% net profit margin). Announcement • Feb 12
Solvar Limited to Report First Half, 2024 Results on Feb 20, 2024 Solvar Limited announced that they will report first half, 2024 results on Feb 20, 2024 New Risk • Oct 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 11% per year for the foreseeable future. High level of non-cash earnings (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (12% average weekly change). Announcement • Oct 10
Solvar Limited, Annual General Meeting, Nov 10, 2023 Solvar Limited, Annual General Meeting, Nov 10, 2023, at 14:00 AUS Eastern Standard Time. Location: The Events Centre, Collins Square, 727 Collins Street Melbourne Victoria Australia Agenda: To consider remuneration Report; to consider re-election of Symon Brewis-Weston as Director; to consider issue of Performance Rights to Scott Baldwin under Employee Equity Plan. Reported Earnings • Aug 31
Full year 2023 earnings released: EPS: AU$0.23 (vs AU$0.24 in FY 2022) Full year 2023 results: EPS: AU$0.23 (down from AU$0.24 in FY 2022). Revenue: AU$209.3m (up 11% from FY 2022). Net income: AU$47.6m (down 7.7% from FY 2022). Profit margin: 23% (down from 28% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Consumer Finance industry in Australia. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 25
Upcoming dividend of AU$0.09 per share at 14% yield Eligible shareholders must have bought the stock before 01 September 2023. Payment date: 09 October 2023. Payout ratio is a comfortable 73% but the company is not cash flow positive. Trailing yield: 14%. Within top quartile of Australian dividend payers (7.1%). Higher than average of industry peers (5.4%). New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. High level of non-cash earnings (23% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. New Risk • Aug 16
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). High level of non-cash earnings (23% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 15
Full year 2023 earnings released: EPS: AU$0.23 (vs AU$0.24 in FY 2022) Full year 2023 results: EPS: AU$0.23 (down from AU$0.24 in FY 2022). Revenue: AU$209.3m (up 11% from FY 2022). Net income: AU$47.6m (down 7.7% from FY 2022). Profit margin: 23% (down from 28% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Finance industry in Australia. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. New Risk • Aug 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Announcement • Aug 04
Solvar Limited to Report Fiscal Year 2023 Results on Aug 15, 2023 Solvar Limited announced that they will report fiscal year 2023 results on Aug 15, 2023 Buying Opportunity • Aug 03
Now 42% undervalued after recent price drop Over the last 90 days, the stock is down 41%. The fair value is estimated to be AU$1.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 9.8% per annum. Earnings is also forecast to grow by 5.7% per annum over the same time period. Buying Opportunity • Jun 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be AU$2.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 9.8% per annum. Earnings is also forecast to grow by 5.7% per annum over the same time period. Buying Opportunity • May 18
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be AU$2.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 9.1% per annum. Earnings is also forecast to grow by 8.1% per annum over the same time period. Upcoming Dividend • Feb 22
Upcoming dividend of AU$0.075 per share at 6.8% yield Eligible shareholders must have bought the stock before 01 March 2023. Payment date: 13 April 2023. Payout ratio is a comfortable 53% but the company is not cash flow positive. Trailing yield: 6.8%. Within top quartile of Australian dividend payers (6.8%). Higher than average of industry peers (5.0%). Announcement • Feb 16
Solvar Limited Announces Dividend for the Six Months Ended December 31, 2022, Payable on April 13, 2023 Solvar Limited announced dividend of AUD 0.075 per share for the six months ended December 31, 2022. Ex-date is March 1, 2023. Record date is March 02, 2023. Payment date is April 13, 2023. Announcement • Feb 09
Solvar Limited to Report First Half, 2023 Results on Feb 15, 2023 Solvar Limited announced that they will report first half, 2023 results on Feb 15, 2023 Board Change • Nov 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Non-Executive Director Kate Robb was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Non-Executive Director Kate Robb was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Non-Executive Director Kate Robb was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 25
Upcoming dividend of AU$0.07 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 06 October 2022. Payout ratio is a comfortable 53% but the company is not cash flow positive. Trailing yield: 5.4%. Lower than top quartile of Australian dividend payers (6.4%). Lower than average of industry peers (7.1%). Reported Earnings • Aug 19
Full year 2022 earnings released: EPS: AU$0.24 (vs AU$0.20 in FY 2021) Full year 2022 results: EPS: AU$0.24 (up from AU$0.20 in FY 2021). Revenue: AU$187.9m (up 30% from FY 2021). Net income: AU$51.6m (up 32% from FY 2021). Profit margin: 28% (in line with FY 2021). Over the next year, revenue is forecast to grow 17%, compared to a 32% growth forecast for the Consumer Finance industry in Australia. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Apr 27
Independent Non-Executive Chairman recently bought AU$99k worth of stock On the 19th of April, Stuart Robertson bought around 36k shares on-market at roughly AU$2.74 per share. This was the largest purchase by an insider in the last 3 months. Stuart has been a buyer over the last 12 months, purchasing a net total of AU$302k worth in shares. Upcoming Dividend • Mar 09
Upcoming dividend of AU$0.06 per share Eligible shareholders must have bought the stock before 16 March 2022. Payment date: 29 April 2022. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Australian dividend payers (5.8%). Lower than average of industry peers (5.6%). Reported Earnings • Feb 17
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: AU$0.12 (up from AU$0.11 in 1H 2021). Revenue: AU$91.3m (up 35% from 1H 2021). Net income: AU$25.8m (up 30% from 1H 2021). Profit margin: 28% (down from 29% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 27%, compared to a 74% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 19% per year. Recent Insider Transactions • Dec 05
Independent Non-Executive Chairman recently bought AU$104k worth of stock On the 2nd of December, Stuart Robertson bought around 34k shares on-market at roughly AU$3.09 per share. This was the largest purchase by an insider in the last 3 months. Stuart has been a buyer over the last 12 months, purchasing a net total of AU$203k worth in shares. Upcoming Dividend • Sep 01
Upcoming dividend of AU$0.07 per share Eligible shareholders must have bought the stock before 08 September 2021. Payment date: 14 October 2021. Trailing yield: 2.8%. Lower than top quartile of Australian dividend payers (5.2%). In line with average of industry peers (2.9%). Reported Earnings • Aug 19
Full year 2021 earnings released: EPS AU$0.20 (vs AU$0.12 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$145.1m (up 17% from FY 2020). Net income: AU$39.2m (up 77% from FY 2020). Profit margin: 27% (up from 18% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • May 26
Independent Non-Executive Chairman recently bought AU$100k worth of stock On the 19th of May, Stuart Robertson bought around 35k shares on-market at roughly AU$2.85 per share. This was the largest purchase by an insider in the last 3 months. This was Stuart's only on-market trade for the last 12 months. Is New 90 Day High Low • Feb 23
New 90-day high: AU$3.01 The company is up 5.0% from its price of AU$2.88 on 25 November 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Finance industry, which is up 46% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$1.37 per share. Reported Earnings • Feb 18
First half 2021 earnings released: EPS AU$0.11 (vs AU$0.086 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: AU$67.9m (up 8.3% from 1H 2020). Net income: AU$19.9m (up 27% from 1H 2020). Profit margin: 29% (up from 25% in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 07
New 90-day high: AU$2.49 The company is up 36% from its price of AU$1.84 on 07 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Finance industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$1.26 per share. Is New 90 Day High Low • Oct 21
New 90-day high: AU$2.38 The company is up 35% from its price of AU$1.77 on 23 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Finance industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$1.35 per share. Is New 90 Day High Low • Oct 02
New 90-day high: AU$2.20 The company is up 31% from its price of AU$1.69 on 03 July 2020. The Australian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Finance industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$1.32 per share. 
