The only ’negatives’ I could pickup:
- netflow growth over pcp next to zero %
- admin fees to drop in % terms in 2nd half, but remain equivalent to 1st half in $ terms due to full implementation of new fee structure
- continuing revenue decline in basis points terms ( but positive jaws on revenue and cost per account).
EBITDA margin at 56% is nuts - given low marginal cost of new FUA and revenue initiatives, this could push 60% in 12/18 mths (allowing for fee transition impact).
The only ’negatives’ I could pickup:- netflow growth over pcp...
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Last
$37.53 |
Change
0.430(1.16%) |
Mkt cap ! $9.195B | |||
| Open | High | Low | Value | Volume |
| $36.93 | $37.90 | $36.91 | $9.896M | 263.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 610 | $37.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.74 | 2314 | 3 |
View Market Depth
| Last trade - 16.10pm 31/07/2025 (20 minute delay) ? |
| NWL (ASX) Chart |