Aspen Group Limited (APZ) AI Stock Analysis

• Market Cap: AU$1.38B
• Dividend Yield: 1.83%
• Average Volume (3M): 943.93K
• Price to Earnings (P/E): 9.2
• Beta (1Y): 0.29
• Revenue Growth: 17.91%
• EPS Growth: 6.19%
• Country: AU
• Employees: 17
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Diversified
• EPS (TTM): 0.11
• Shares Outstanding: 227,665,440
• 10 Day Avg. Volume: 355,277
• 30 Day Avg. Volume: 943,930
• PEG Ratio: 1.86
• Price to Book (P/B): 1.48
• Price to Sales (P/S): 7.53
• P/FCF Ratio: 35.55
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$6.12
• Price Target Upside: 8.61% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.2
• Revenue Forecast (FY): AU$133.30M

• Rating: 71 Outperform
• Price Target: AU$6.50 ▲(15.45% Upside)
• Action: Reiterated Date: 10/25/25
• Date: Action: Reiterated 10/25/25

Aspen Group Limited's stock score is driven by strong financial performance, particularly in revenue growth and profitability, despite some cash flow challenges. The technical analysis indicates bullish momentum, though caution is advised due to overbought signals. Valuation is fair, with a reasonable P/E ratio and moderate dividend yield.

Positive Factors

High margins

Sustained high gross and net margins indicate a structurally profitable business model in affordable accommodation and lifestyle assets. Durable margins support internal reinvestment, debt servicing and distribution capacity, and provide a buffer versus cyclical property revenue swings.

Prudent leverage

Low leverage and a moderate ROE reflect conservative capital structure and disciplined financing. This reduces refinancing and interest-rate risk for development cycles, preserving flexibility to pursue selective acquisitions or capex without overburdening the balance sheet.

Consistent revenue growth

Recurring revenue expansion demonstrates ongoing demand for the company’s portfolio and execution in asset management and selective development. Steady top-line growth supports scale benefits, improves capacity to fund upgrades and strengthens long-term cash generation potential.

Negative Factors

Weak cash conversion

Subpar conversion of accounting profits into operating cash and declining free cash flow growth point to persistent cash-generation pressure. Over the medium term this can constrain self-funded developments, increase reliance on external financing, and reduce resilience to market stress.

Declining gross margin

A falling gross margin signals rising operating costs or pricing pressure within the portfolio. If structural, margin erosion would compress long-term profitability, reduce free cash flow and force either cost cuts or higher rents that could impair demand.

Limited operational scale

A very small headcount for a diversified property operator suggests limited internal capacity and potential key-person dependency. Over months this can constrain ability to scale asset management, manage multiple developments, and may increase reliance on external partners.

Aspen Group Limited Business Overview & Revenue Model

Company Description

Aspen is a leading provider of quality accommodation on competitive terms in residential, retirement and park communities. Our core target customer base is the 40% of Australian households that can pay no more than $400 per week in rent or $400,000 purchase price for their housing needs.

How the Company Makes Money

Aspen Group Limited generates revenue through multiple streams, primarily from rental income derived from its portfolio of commercial and residential properties. The company leases space to various tenants in sectors such as healthcare and education, providing stable cash flow. Additionally, APZ engages in property development projects, which contribute to its earnings through the sale of developed properties and capital gains. Strategic partnerships with local governments and private developers enhance its project pipeline and market presence, while ongoing asset management services ensure the optimization of property performance and tenant satisfaction, further driving revenue growth.

Aspen Group Limited Financial Statement Overview

Summary

Aspen Group Limited shows strong revenue growth and profitability, with effective cost management and a solid capital structure. However, challenges in cash generation are noted, indicating room for improvement in cash flow management.

Income Statement

Aspen Group Limited has demonstrated strong revenue growth with a 9.05% increase in the latest year, supported by a solid gross profit margin of 55.15%. The net profit margin remains robust at 52.76%, indicating effective cost management. However, the decline in gross profit margin from the previous year suggests potential pressure on cost efficiency.

Balance Sheet

The company maintains a healthy debt-to-equity ratio of 0.24, reflecting prudent leverage management. Return on equity is moderate at 10.38%, indicating reasonable profitability relative to shareholder equity. The equity ratio stands at a stable level, suggesting a balanced capital structure.

Cash Flow

Operating cash flow to net income ratio is at 0.40, showing a moderate conversion of income to cash. The free cash flow growth rate is negative at -13.27%, highlighting challenges in cash generation. However, the free cash flow to net income ratio of 1.0 indicates that the company is generating sufficient free cash flow relative to its net income.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	127.96M	108.13M	91.12M	65.67M	46.68M	35.52M
Gross Profit	66.69M	59.63M	56.29M	37.20M	24.31M	23.55M
EBITDA	72.88M	38.03M	73.02M	22.20M	12.44M	26.56M
Net Income	61.82M	57.05M	48.44M	54.40M	75.38M	25.39M
Balance Sheet
Total Assets	859.07M	733.46M	668.95M	575.84M	468.49M	249.93M
Cash, Cash Equivalents and Short-Term Investments	8.08M	9.99M	4.52M	8.92M	10.89M	9.53M
Total Debt	210.85M	131.01M	199.90M	171.69M	154.42M	83.18M
Total Liabilities	287.58M	187.81M	235.29M	214.67M	191.47M	97.38M
Stockholders Equity	575.33M	549.49M	437.49M	365.00M	280.86M	156.39M
Cash Flow
Free Cash Flow	35.94M	22.90M	29.12M	11.79M	12.50M	10.20M
Operating Cash Flow	36.40M	22.90M	30.95M	14.06M	14.12M	11.27M
Investing Cash Flow	-86.77M	8.09M	-38.43M	-50.40M	-85.40M	-35.69M
Financing Cash Flow	53.10M	-25.52M	3.08M	34.53M	73.73M	24.54M

Aspen Group Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.63
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:APZ, the sentiment is Positive. The current price of 5.63 is above the 20-day moving average (MA) of 5.54, above the 50-day MA of 5.54, and above the 200-day MA of 4.64, indicating a bullish trend. The MACD of 0.21 indicates Negative momentum. The RSI at 63.30 is Neutral, neither overbought nor oversold. The STOCH value of 85.21 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:APZ.

Aspen Group Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
APZ	71 Outperform	AU$1.38B	9.15	11.76%	1.83%	17.91%	6.19%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
DXC	64 Neutral	AU$377.45M	2.70	7.93%	7.46%	-3.97%	1057.09%
HMC	60 Neutral	AU$1.06B	24.03	10.22%	3.17%	206.14%	101.96%
ABG	57 Neutral	AU$924.94M	5.68	1.70%	7.11%	4.69%	―
CMW	54 Neutral	AU$1.09B	3.08	-9.33%	6.12%	-5.64%	89.16%
COF	53 Neutral	AU$606.30M	2.79	-1.91%	8.63%	-4.50%	88.28%

Aspen Group Limited Corporate Events

Aspen Group Schedules HY26 Results Webinar for February

Aspen Group will host a webinar to present its HY26 financial results at 11:30am (AEDT) on Thursday, 19 February 2026. The session will include a brief presentation followed by a Q&A, and investors are invited to register online in advance, underscoring the company’s effort to engage stakeholders and provide transparency around its half-year performance.

The most recent analyst rating on (AU:APZ) stock is a Buy with a A$6.50 price target. To see the full list of analyst forecasts on Aspen Group Limited stock, see the AU:APZ Stock Forecast page.

Citi Group Entities Cease to Be Substantial Holders in Aspen Group

Citigroup Global Markets Australia Pty Limited and related Citi group entities have notified Aspen Group that they have ceased to be substantial shareholders as of 23 December 2025, following a series of transactions that significantly reduced their relevant interest in Aspen’s ordinary fully paid shares. The change stems from decreases in holdings tied to securities lending arrangements and ordinary course stock market dealings by Citibank N.A. Sydney Branch, Citigroup Global Markets Australia Pty Limited and Citigroup Global Markets Limited, signalling the withdrawal of a major institutional holder from Aspen’s register and potentially altering the company’s ownership structure and liquidity profile for remaining investors.

The most recent analyst rating on (AU:APZ) stock is a Buy with a A$5.95 price target. To see the full list of analyst forecasts on Aspen Group Limited stock, see the AU:APZ Stock Forecast page.

Aspen Group Announces New Dividend Distribution

Aspen Group has announced a new dividend distribution for its fully paid ordinary units stapled securities, with a distribution amount of AUD 0.055 per security. The dividend relates to a six-month period ending on December 31, 2025, with the ex-date set for December 30, 2025, and payment scheduled for February 27, 2026. This announcement reflects the company’s ongoing commitment to returning value to its shareholders and may impact investor sentiment positively.

The most recent analyst rating on (AU:APZ) stock is a Buy with a A$5.95 price target. To see the full list of analyst forecasts on Aspen Group Limited stock, see the AU:APZ Stock Forecast page.