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Contango Asset Management Ltd.
(Sydney:APL)
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Rating:48Neutral
Price Target:
AU$0.26
▲(45.56% Upside)
Action:Reiterated
Date:06/27/26
The score is held back primarily by weak technicals (below major moving averages with negative MACD and very low RSI) and an elevated P/E (46.94) without a dividend yield. Financial performance is improving, with 2025 showing stronger revenue, much better gross profitability, and a return to positive operating/free cash flow, but the company is still not consistently profitable, limiting the overall score.
Positive Factors
Fee-based asset management model
A fee-based funds management model creates recurring, scalable revenue tied to assets under management and performance. Over 2–6 months this structural mix supports predictable cash inflows, aligns incentives with clients, and provides leverage to FUM growth without heavy incremental operating cost.
Negative Factors
Net-level unprofitability and negative ROE
Continued net losses and negative return on equity constrain long-term shareholder value creation. Over a 2–6 month horizon, persistent bottom-line deficits can limit capital allocation choices, raise funding needs, and delay the transition from recovery to consistent profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Fee-based asset management model
A fee-based funds management model creates recurring, scalable revenue tied to assets under management and performance. Over 2–6 months this structural mix supports predictable cash inflows, aligns incentives with clients, and provides leverage to FUM growth without heavy incremental operating cost.
Read all positive factors
Contango Asset Management Ltd. (APL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$15.73M
Dividend YieldN/A
Average Volume (3M)25.90K
Price to Earnings (P/E)54.1
Beta (1Y)-0.72
Revenue Growth14.36%
EPS GrowthN/A
CountryAU
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management - Global
Share Statistics
EPS (TTM)<0.01
Shares Outstanding59,364,426
10 Day Avg. Volume63,547
30 Day Avg. Volume25,904
Financial Highlights & Ratios
PEG Ratio0.46
Price to Book (P/B)0.81
Price to Sales (P/S)0.93
P/FCF Ratio7.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Contango Asset Management Ltd. Business Overview & Revenue Model
Company Description
Associate Global Partners Limited is a publicly listed investment management firm. It offers a range of investment strategies to its institutional clientele, encompassing large, mid, small, and micro-cap equities, alongside income-focused mandates...
How the Company Makes Money
Contango Asset Management Ltd. primarily makes money by charging fees for managing investment capital. Typical revenue streams for an asset manager include (i) management fees calculated as a percentage of funds under management (FUM) and charged ...
Contango Asset Management Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
62
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.21M | 6.66M | 6.03M | 5.66M | 6.21M | 5.54M |
| Gross Profit | 6.13M | 6.50M | 5.08M | 3.85M | 4.32M | 3.94M |
| EBITDA | 421.00K | -42.00K | -421.00K | -1.75M | -425.00K | -757.00K |
| Net Income | 210.00K | -171.00K | -798.00K | -1.99M | -642.00K | -800.00K |
Balance Sheet | ||||||
| Total Assets | 12.98M | 12.58M | 12.71M | 13.09M | 13.21M | 13.86M |
| Cash, Cash Equivalents and Short-Term Investments | 5.20M | 4.84M | 4.18M | 4.05M | 6.59M | 5.53M |
| Total Debt | 1.77M | 1.93M | 1.74M | 1.95M | 1.62M | 1.64M |
| Total Liabilities | 5.24M | 4.92M | 4.99M | 6.01M | 4.31M | 4.48M |
| Stockholders Equity | 7.75M | 7.67M | 7.72M | 7.08M | 8.90M | 9.37M |
Cash Flow | ||||||
| Free Cash Flow | 1.43M | 882.00K | -495.00K | -2.17M | -833.00K | -312.00K |
| Operating Cash Flow | 1.46M | 885.00K | -489.00K | -2.16M | -824.00K | -307.00K |
| Investing Cash Flow | -269.00K | -226.00K | -607.00K | -307.00K | 1.82M | 1.82M |
| Financing Cash Flow | -247.00K | 0.00 | 1.23M | -71.00K | 76.00K | 70.00K |
Contango Asset Management Ltd. Technical Analysis
Positive
0.18
Price Trends
0.28
Negative
0.27
Negative
0.22
Positive
Market Momentum
>-0.01
Negative
51.47
Neutral
26.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:APL, the sentiment is Positive. The current price of 0.18 is below the 20-day moving average (MA) of 0.24, below the 50-day MA of 0.28, and below the 200-day MA of 0.22, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 51.47 is Neutral, neither overbought nor oversold. The STOCH value of 26.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:APL.
Contango Asset Management Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$57.56M | 6.26 | 35.99% | 6.39% | 0.11% | 21.50% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | AU$1.52B | 17.92 | 5.81% | 1.50% | 28.00% | -70.45% | |
61 Neutral | AU$49.19M | -31.79 | 3.43% | 6.89% | -26.20% | -112.45% | |
53 Neutral | AU$24.71M | 21.90 | 4.11% | 2.03% | 35.83% | ― | |
48 Neutral | AU$15.73M | 54.08 | 2.73% | ― | 14.36% | ― | |
44 Neutral | AU$15.82M | -4.00 | -126.93% | ― | 14.09% | 78.63% |
* Financial Sector Average
AU:APL
Contango Asset Management Ltd.
0.27
0.16
140.91%
AU:NGI
Navigator Global Investments Ltd
2.36
0.58
32.29%
AU:IAM
Income Asset Management Group Limited
0.02
>-0.01
-25.93%
AU:CIW
Clime Investment Management Ltd
0.30
-0.07
-18.03%
AU:MAM
Microequities Asset Management Group Ltd.
0.44
-0.06
-11.41%
AU:SB2
Salter Brothers Emerging Companies Ltd.
0.59
-0.08
-12.56%
Contango Asset Management Ltd. Corporate Events
Associate Global Partners Updates Director Martin Switzer’s Investment Holdings
Jul 8, 2026
Associate Global Partners has disclosed a change in director Martin Switzer’s interests, detailing his direct and indirect holdings in company shares, performance rights, and units in listed funds managed by its subsidiary. The notice shows ...
Associate Global Partners Converts 1.82 Million Employee Performance Rights Into Shares
Jul 6, 2026
Associate Global Partners Limited has converted 1,822,000 vested employee performance rights into an equivalent number of fully paid ordinary shares, expanding its share base and crystallising staff equity incentives. The move reflects the company...
Associate Global Partners Expands Quoted Share Base on ASX
Jul 6, 2026
Associate Global Partners Limited has lodged an application with the ASX for quotation of new ordinary fully paid shares. The filing covers the issuance of 1,822,000 APL securities, dated 4 July 2026, under the exchange’s Appendix 2A rules.T...
AGP Partners with ARK to Bring Disruptive Innovation Venture Fund to Australian Investors
Jul 2, 2026
Associate Global Partners has signed a distribution agreement with U.S.-based ARK Investment Management to offer Australian wholesale investors access to the ARK Venture Fund, an actively managed portfolio focused on disruptive innovation. The mov...
Associate Global Partners Director Modestly Increases Indirect Fund Holdings
Jun 23, 2026
Associate Global Partners Limited has reported a small change in the indirect securities holdings of director Brett Peter Cairns, reflecting activity in funds managed by the company’s subsidiary. Cairns’ interests are held through vari...
Associate Global Partners director increases holding via dividend reinvestment
Jun 23, 2026
Associate Global Partners Limited has disclosed a change in the indirect holdings of director Jason Craig Billings, reflecting his interest via Jasbaat Super Pty Ltd as trustee for his superannuation account. The director’s portfolio include...
Associate Global Partners Director Increases Holding in Company-Managed ETF
Jun 5, 2026
Associate Global Partners Limited has reported a change in the indirect securities interests of director Brett Peter Cairns, primarily relating to units in listed funds managed by the company’s subsidiary. Cairns holds these interests throug...
Associate Global Partners Director Increases ETF Holding via Dividend Reinvestment
Apr 29, 2026
Associate Global Partners Limited has disclosed a minor change in director Nerida Campbell’s indirect interests, reflecting routine portfolio activity rather than a strategic shift. Campbell, through Oliver Road Investments Pty Ltd as truste...
Associate Global Partners Director Increases Indirect Holding in Managed ETF
Apr 28, 2026
Associate Global Partners Limited has reported a change in the indirect interests of director Brett Peter Cairns in one of its listed funds. Cairns holds his interests through several Euclid Pty Limited-related entities, which act as vehicles for ...
Associate Global Partners Director Boosts ETF Holding via Dividend Reinvestment
Apr 28, 2026
Associate Global Partners Limited has disclosed a change in the indirect holdings of director Jason Craig Billings, reflecting activity in one of the company’s managed investment products rather than a shift in his direct shareholding. Billi...
Associate Global Partners Director Increases Holding in Company-Managed ETF
Apr 24, 2026
Associate Global Partners Limited has reported a change in director Jason Craig Billings’ indirect interests, reflecting an additional investment in one of the firm’s managed exchange-traded funds. Billings holds these interests via Ja...
Associate Global Partners Appoints New Company Secretary
Apr 23, 2026
Associate Global Partners Limited has appointed Sushma Kejriwal of Acclime Corporate Services Australia as its new Company Secretary, effective 23 April 2026. The change is part of the company’s ongoing corporate governance arrangements and ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.