Bravura Solutions Limited (AU:BVS)
ASX:BVS
Top Page
Bravura Solutions Limited
(Sydney:BVS)
Select Model
Select Model
Rating:73Outperform
Price Target:
AU$2.00
▼(-23.08% Downside)
Action:ReiteratedDate:02/11/26
The score is driven primarily by strong financial recovery and cash flow strength, supported by reasonable valuation and a high dividend yield. Upgraded guidance and solid H1 momentum help, while mixed technical signals and earnings-call risks (client attrition, pricing dependence, and revenue lumpiness) limit upside.
Positive Factors
Strong cash generation
Bravura's free cash flow grew 34.12% and OCF/Net Income is 1.42, indicating high cash conversion and earnings quality. Durable cash generation supports reinvestment in product development, funds implementation projects, and sustained shareholder distributions without needing external financing.
Negative Factors
Client attrition and concentration risk
Material client departures and concentration risk materially weaken recurring revenue predictability. Loss of a large client can remove a meaningful portion of recurring fees and reduce cross-sell opportunities, making multi-year revenue visibility and renewal-driven growth more precarious.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Bravura's free cash flow grew 34.12% and OCF/Net Income is 1.42, indicating high cash conversion and earnings quality. Durable cash generation supports reinvestment in product development, funds implementation projects, and sustained shareholder distributions without needing external financing.
Read all positive factors
Bravura Solutions Limited (BVS) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$894.36M
Dividend Yield10.16%
Average Volume (3M)2.83M
Price to Earnings (P/E)11.1
Beta (1Y)1.25
Revenue Growth25.67%
EPS Growth744.90%
CountryAU
Employees1,085
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.06
Shares Outstanding448,300,000
10 Day Avg. Volume2,924,196
30 Day Avg. Volume2,830,654
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)10.63
Price to Sales (P/S)3.88
P/FCF Ratio10.18
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$2.26Price Target Upside-13.08% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.11
Revenue Forecast (FY)AU$279.63M
Bravura Solutions Limited Business Overview & Revenue Model
Company Description
Bravura Solutions Limited engages in the development, licensing, and maintenance of administration and management software applications for the wealth management and funds administration sectors in Australia, New Zealand, the United Kingdom, and i...
How the Company Makes Money
Bravura Solutions generates revenue primarily through the licensing of its software products and related services. The company charges clients for the use of its platforms, which can include one-time licensing fees, ongoing subscription fees, and ...
Bravura Solutions Limited Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Sep 01, 2026
Earnings Call Sentiment Positive
The call conveyed solid operational and financial momentum: double-digit revenue growth year-on-year, materially higher cash EBITDA and NPAT, upgraded FY26 guidance, strong cash balance with no debt, and meaningful shareholder returns via interim and special dividends. These positives are tempered by client attrition risks (one recent departure with additional potential exits), reliance on pricing for recurring revenue growth, and increased project-driven revenue that can be lumpy. Management highlights cost discipline and expansion within existing customers as the primary drivers offsetting attrition.Positive Updates
Strong Profitability and EBITDA Growth
Cash EBITDA of $34.2M, up $14.2M versus H1 FY25; underlying NPAT of $25.9M, up $14.6M versus H1 FY25, demonstrating meaningful profitability improvement.
Negative Updates
Client Attrition and Concentration Risk
Management highlighted three expected material attritions (flagged in 2022): one departed long ago, a second departed just over a month before period end (full impact seen in the current reporting period), and the third remains unresolved—recurring revenue exposed to client departures.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Profitability and EBITDA Growth
Cash EBITDA of $34.2M, up $14.2M versus H1 FY25; underlying NPAT of $25.9M, up $14.6M versus H1 FY25, demonstrating meaningful profitability improvement.
Read all positive updates
Company Guidance
Management upgraded FY26 guidance to revenue of $280–285 million, cash EBITDA of $69–73 million and PP&E of about $4 million, reflecting an expectation of further second‑half improvement driven by increased professional services, product enhancements and contract repricing; this follows a strong H1 with revenue $140.0m (up 9.8% y/y), recurring revenue $81.3m (up 5% y/y), cash EBITDA $34.2m (up $14.2m), underlying NPAT $25.9m (up $14.6m), net closing cash $64.5m and no debt. Management also declared an interim dividend of $0.0577 per share ($25.9m, equal to 100% of H1 NPAT) and a special dividend of $0.0446 per share ($20.0m), noting ~2/3 of recurring revenue growth last year came from pricing and that over $0.40 per share has been returned to shareholders over the past two years.Bravura Solutions Limited Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
68
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 269.15M | 256.42M | 248.95M | 248.20M | 265.43M | 242.34M |
| Gross Profit | 75.47M | 256.42M | 38.98M | 11.39M | 59.23M | 60.35M |
| EBITDA | 62.75M | 108.03M | 29.05M | -254.15M | 57.72M | 62.06M |
| Net Income | 38.85M | 74.23M | 8.78M | -280.71M | 29.93M | 34.56M |
Balance Sheet | ||||||
| Total Assets | 181.95M | 179.84M | 229.20M | 258.39M | 456.70M | 465.88M |
| Cash, Cash Equivalents and Short-Term Investments | 64.52M | 58.69M | 89.97M | 75.75M | 48.67M | 73.57M |
| Total Debt | 11.80M | 13.32M | 17.41M | 27.79M | 30.58M | 36.76M |
| Total Liabilities | 94.57M | 86.26M | 95.53M | 132.48M | 121.83M | 136.09M |
| Stockholders Equity | 87.38M | 93.58M | 133.67M | 125.91M | 334.88M | 329.78M |
Cash Flow | ||||||
| Free Cash Flow | 72.24M | 97.71M | 23.42M | -25.87M | 15.65M | 21.64M |
| Operating Cash Flow | 74.53M | 100.58M | 29.91M | -6.69M | 41.82M | 46.98M |
| Investing Cash Flow | -4.81M | -2.87M | -6.49M | -24.09M | -33.01M | -48.39M |
| Financing Cash Flow | -156.62M | -127.15M | -8.87M | 57.43M | -32.38M | -25.09M |
Bravura Solutions Limited Technical Analysis
Negative
2.60
Price Trends
2.01
Negative
2.20
Negative
2.26
Negative
Market Momentum
-0.01
Negative
48.45
Neutral
55.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BVS, the sentiment is Negative. The current price of 2.6 is above the 20-day moving average (MA) of 2.01, above the 50-day MA of 2.01, and above the 200-day MA of 2.26, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 48.45 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BVS.
Bravura Solutions Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$894.36M | 11.05 | 42.94% | 10.16% | 25.67% | 744.90% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | AU$1.26B | 19.91 | 19.57% | 2.47% | -4.10% | 341.80% | |
55 Neutral | AU$724.15M | 64.66 | -1.11% | ― | ― | ― | |
54 Neutral | AU$382.08M | 13.57 | 4.13% | ― | 0.40% | -280.65% |
* Technology Sector Average
AU:BVS
Bravura Solutions Limited
1.95
-0.07
-3.37%
AU:IRE
IRESS Limited
6.83
-0.74
-9.79%
AU:NXL
Nuix Ltd.
1.08
-1.35
-55.56%
AU:FCL
FINEOS Corporation Holdings Plc Shs Chess Depositary Interests Repr 1 Sh
2.22
0.35
18.72%
Bravura Solutions Limited Corporate Events
Bravura director Shezad Okhai cuts stake with major share sell-down
Feb 22, 2026
Bravura Solutions has disclosed a significant reduction in the shareholding of director Shezad Okhai, who sold over 1.3 million fully paid ordinary shares in a series of on-market trades between 16 and 20 February 2026. Following these disposals, ...
Bravura Solutions Declares Interim Dividend for December 2025 Half
Feb 10, 2026
Bravura Solutions Limited has declared an interim dividend of AUD 0.1023 per ordinary fully paid share for the six-month period ended 31 December 2025. The stock will trade ex-dividend on 17 February 2026, with a record date of 18 February 2026 an...
Bravura lifts profit, boosts dividends on growing recurring revenue base
Feb 10, 2026
Bravura Solutions reported underlying revenue from customers of $140.0 million for the half year to 31 December 2025, up 9.8% year on year, with $81.3 million generated from recurring revenue streams. Underlying cash EBITDA rose to $34.2 million w...
Bravura Profit Falls on Prior-Year One-Off, Underlying Earnings Surge and Dividend Declared
Feb 10, 2026
Bravura Solutions reported half-year revenue from ordinary activities of $139.998 million for the period ended 31 December 2025, down 23.8% from the prior corresponding period, largely reflecting the absence of a $56.3 million non-recurring licenc...
Bravura Solutions Lifts FY26 Guidance on Strong Project Activity
Feb 8, 2026
Bravura Solutions has lifted its full‑year 2026 guidance on the back of stronger‑than‑expected project activity and disciplined cost control across its customer base. The company now expects revenue of $280 million to $285 millio...
Bravura Sets 11 February Date for Half-Year 2026 Results Briefing
Jan 15, 2026
Bravura Solutions Limited has scheduled the release of its half‑year 2026 financial results for 11 February 2026, with Group CEO Colin Greenhill and CFO Neil Montford to present the numbers via a teleconference and webcast at 9:30am AEDT on ...
Bravura Solutions to Issue 835,645 Unquoted Employee Rights Under Incentive Plan
Jan 11, 2026
Bravura Solutions Limited, a financial technology provider to the wealth management and funds administration sectors, offers software platforms and related services that support superannuation, life insurance, investment, and pension administratio...
Bravura Solutions Cancels Employee and Performance Rights
Jan 11, 2026
Bravura Solutions Limited has notified the market that a total of 39,325 employee and performance rights (ASX codes BVSAM and BVSAA) have ceased, following cancellation by agreement between the company and the holders, effective 1 October 2025. Th...
Bravura Solutions Issues Notice on Conversion of Unquoted Equity Securities
Jan 11, 2026
Bravura Solutions Limited has notified the market of the issue, conversion or payment up of certain unquoted equity securities, specifically involving the exercise of unquoted options or the conversion of other unquoted convertible securities. Whi...
Bravura Solutions Installs Colin Greenhill as Group CEO, Ending Interim Leadership
Jan 1, 2026
Bravura Solutions Limited, a global financial software provider serving wealth management, life insurance and funds administration firms, develops technology platforms that help institutions modernise operations, streamline administration and meet...
Macquarie Group Ceases Substantial Holding in Bravura Solutions
Dec 18, 2025
Macquarie Group Limited and its controlled entities have ceased to be substantial shareholders in Bravura Solutions Limited as of December 15, 2025. This development may influence Bravura’s shareholder structure and could have potential impl...
Bravura Solutions Director Increases Shareholding
Nov 24, 2025
Bravura Solutions Limited has announced a change in the director’s interest, specifically involving Sarah Adam-Gedge, who has acquired 15,000 fully paid ordinary shares through an on-market trade. This acquisition increases her indirect inte...
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.