Finbar Group Limited (FRI) AI Stock Analysis

• Market Cap: AU$236.75M
• Dividend Yield: 11.49%
• Average Volume (3M): 300.04K
• Price to Earnings (P/E): 15.2
• Beta (1Y): 0.29
• Revenue Growth: 47.37%
• EPS Growth: -13.44%
• Country: AU
• Employees: 21
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): 3.89
• Shares Outstanding: 272,123,140
• 10 Day Avg. Volume: 243,118
• 30 Day Avg. Volume: 300,036
• PEG Ratio: -1.01
• Price to Book (P/B): 0.79
• Price to Sales (P/S): 0.69
• P/FCF Ratio: 1.09
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.07
• Revenue Forecast (FY): AU$168.50M

• Rating: 65 Neutral
• Price Target: AU$0.90 ▲(6.90% Upside)
• Action: Reiterated Date: 11/11/25
• Date: Action: Reiterated 11/11/25

Finbar Group Limited's overall stock score is driven by strong technical indicators and an attractive dividend yield, despite challenges in financial performance due to declining revenue and profit margins. The stock's valuation is appealing, but caution is advised due to near overbought technical signals.

Positive Factors

Low leverage / strong balance sheet

A debt-to-equity ratio of 0.20 gives Finbar durable financial flexibility uncommon in development cycles. Low leverage reduces interest burden, supports self-funding of projects, cushions downturns, and preserves capacity to pursue opportunistic land or JV investments without risking solvency.

Improved operating cash generation

Operating cash flow has turned positive and free cash flow relative to net income is near parity, reflecting better cash conversion. Sustained cash generation supports funding construction cycles, servicing obligations, and potentially funding distributions or reinvestment with less reliance on external debt.

Integrated development and construction focus

Finbar's integrated model across development, construction and property services for medium- to high-density housing creates control over costs and timelines. Vertical integration can protect margins, accelerate delivery, and enable repeat business or JV partnerships across urban residential demand cycles.

Negative Factors

Material revenue decline

A near-30% revenue contraction materially reduces scale for a developer, harming fixed-cost absorption and underwriting for new projects. Sustained top-line weakness can delay completions, shrink margins, force pricing concessions, and impair the company's ability to rebuild recurring cash flows.

Compressing margins and lower ROE

Declining gross and net margins together with lower ROE indicate structural pressure on profitability. For a capital-intensive developer this reduces internally generated capital for new projects, limits reinvestment and dividend capacity, and makes performance more sensitive to cost or pricing shocks.

Negative free cash flow growth / sustainability risk

Although operating cash turned positive, negative free cash flow growth shows cash generation hasn't scaled with capital needs. Persistent negative FCF growth increases reliance on external financing for land and construction, raising execution and refinancing risk in tighter credit environments.

Finbar Group Limited Business Overview & Revenue Model

Company Description

Finbar Group Limited, through its subsidiaries, develops and invests in properties in Australia. It engages in the development of medium to high density residential buildings and commercial properties, as well as rents its properties. The company was incorporated in 1984 and is based in East Perth, Australia.

How the Company Makes Money

Finbar Group Limited generates revenue primarily through the sale of residential properties, including apartments and mixed-use developments. The company earns income by developing properties and then selling them to individual buyers or investors. Key revenue streams include pre-sales and final sales of residential units, with income recognized upon settlement. Additionally, Finbar may derive revenue from joint ventures and partnerships with other developers and investors, which can enhance project financing and mitigate risks. The company’s focus on sustainable and innovative designs attracts buyers and investors, contributing to its overall financial performance.

Finbar Group Limited Financial Statement Overview

Summary

Finbar Group Limited faces a mixed financial outlook. The income statement shows declining revenue and profit margins, but the balance sheet is strong with low leverage. Cash flow improvements are promising but need to be sustained.

Income Statement

Finbar Group Limited's income statement reveals a challenging period with a significant revenue decline of nearly 30% in the latest year. Gross and net profit margins have decreased, indicating pressure on profitability. However, the company maintains a positive EBIT margin, suggesting some operational efficiency despite the revenue drop.

Balance Sheet

The balance sheet shows a strong equity position with a low debt-to-equity ratio of 0.20, indicating financial stability. However, the return on equity has decreased, reflecting lower profitability. The equity ratio remains healthy, suggesting a solid asset base.

Cash Flow

Cash flow analysis indicates a substantial improvement in operating cash flow, turning positive after a negative period. The free cash flow to net income ratio is nearly 1, showing effective cash generation relative to profits. However, free cash flow growth is negative, highlighting potential challenges in sustaining cash flow improvements.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	176.02M	284.47M	186.14M	33.97M	91.11M	103.39M
Gross Profit	30.96M	34.34M	20.92M	11.50M	16.43M	17.29M
EBITDA	18.63M	21.99M	22.70M	4.36M	8.09M	8.91M
Net Income	15.58M	14.38M	16.60M	3.13M	10.91M	8.85M
Balance Sheet
Total Assets	328.96M	360.18M	704.53M	444.26M	348.13M	345.50M
Cash, Cash Equivalents and Short-Term Investments	44.60M	36.40M	220.15M	18.18M	33.79M	52.74M
Total Debt	30.48M	50.33M	388.77M	177.14M	85.20M	71.48M
Total Liabilities	74.71M	111.08M	448.04M	204.19M	105.40M	102.86M
Stockholders Equity	254.24M	249.10M	256.50M	240.07M	242.73M	242.64M
Cash Flow
Free Cash Flow	46.82M	179.59M	-15.29M	-112.79M	-8.70M	18.04M
Operating Cash Flow	46.83M	179.63M	-15.13M	-112.59M	-8.60M	18.11M
Investing Cash Flow	3.04M	-18.57M	6.62M	11.11M	-14.82M	5.26M
Financing Cash Flow	-35.60M	-344.81M	211.66M	86.45M	4.03M	-1.36M

Finbar Group Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.84
• 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:FRI, the sentiment is Positive. The current price of 0.84 is above the 20-day moving average (MA) of 0.79, above the 50-day MA of 0.82, and above the 200-day MA of 0.78, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 65.13 is Neutral, neither overbought nor oversold. The STOCH value of 82.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:FRI.

Finbar Group Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
FRI	65 Neutral	AU$236.75M	15.18	5.69%	11.49%	47.37%	-13.44%
URF	45 Neutral	AU$130.81M	-2.31	-5.60%	2.62%	-35.85%	35.27%
CAQ	42 Neutral	AU$6.46M	-2.22	-5.75%	―	-36.70%	-2150.00%
MPX	38 Underperform	AU$17.62M	-12.12	-13.36%	―	-81.98%	-131.34%

Finbar Group Limited Corporate Events

Finbar Director Melissa Chan Boosts Indirect Shareholding

Finbar Group director Ms Melissa Siew Ching Chan has increased her indirect shareholding in the company through an on-market purchase. She acquired 100,000 ordinary fully paid shares for $86,000, lifting her indirect interest from 24,060,691 to 24,160,691 shares, while her direct holding remains unchanged at 107,133 shares.

The transaction signals a modest vote of confidence by the director in Finbar’s prospects, as she commits additional capital to the company’s stock. The change in director’s interest will be closely watched by shareholders who often interpret such purchases as an indicator of management’s outlook on future performance and valuation.

The most recent analyst rating on (AU:FRI) stock is a Hold with a A$0.88 price target. To see the full list of analyst forecasts on Finbar Group Limited stock, see the AU:FRI Stock Forecast page.

Finbar Reshapes Board as Founder Shifts to Non-Executive Role

Finbar Group has announced a board transition as part of its succession planning, with founding leader John Chan moving from Executive Chair to Non-Executive Chair effective 2 March 2026. The shift formalises his move into a more strategic, oversight-focused role while he remains a substantial shareholder and continues to guide the company’s long-term direction.

At the same time, Chief Operating Officer Melissa Chan will join the board as an Executive Director, ending her role as John Chan’s alternate director on that date. Her appointment strengthens the board’s operational and international real estate expertise, reinforcing continuity in leadership and signalling a structured renewal aimed at supporting sustainable growth and stakeholder value.

The most recent analyst rating on (AU:FRI) stock is a Hold with a A$0.84 price target. To see the full list of analyst forecasts on Finbar Group Limited stock, see the AU:FRI Stock Forecast page.

Finbar lifts profit and builds record $1.8bn project pipeline

Finbar Group posted a first-half FY26 NPAT of $10.6 million, up 12.9%, with underlying NPAT of $12 million, while revenue halved to $109.4 million as it cycled prior project completions. Despite lower revenue, record 1H26 sales of $368 million, $523 million in pre-sales, and an interim fully franked dividend of 2.5 cents per share underscore resilient profitability and strong capital management.

The company reported a record five-year development pipeline exceeding $1.8 billion in end value, supported by $68.9 million in cash and term deposits and reduced debt of $30.5 million. With major projects such as Garden Towers, Bel-Air, Riverbank, and Palmyra West driving pre-sales, and a positive outlook tied to ongoing housing undersupply, Finbar expects FY26 NPAT to rise further, reinforcing its growth trajectory and market positioning in WA’s apartment sector.

The most recent analyst rating on (AU:FRI) stock is a Hold with a A$0.84 price target. To see the full list of analyst forecasts on Finbar Group Limited stock, see the AU:FRI Stock Forecast page.

Finbar Group Declares Interim Dividend for Half-Year to December 2025

Finbar Group Limited has declared an interim dividend of AUD 0.025 per ordinary fully paid share for the six-month period ended 31 December 2025. The company has set 11 March 2026 as the ex-dividend date, 12 March 2026 as the record date, and 10 April 2026 as the payment date, confirming a continued return of capital to shareholders over the current financial period.

The announcement of this dividend signals ongoing profitability and cash generation sufficient to support regular distributions to investors. It also reinforces Finbar’s commitment to shareholder returns in line with its established dividend timetable, which may underpin investor confidence and support the stock’s appeal in the income-focused segment of the market.

The most recent analyst rating on (AU:FRI) stock is a Hold with a A$0.84 price target. To see the full list of analyst forecasts on Finbar Group Limited stock, see the AU:FRI Stock Forecast page.

Finbar Secures Strong Presales in Launch of Palmyra West Apartments

Finbar Group has reported a strong off-the-plan sales launch for its wholly owned Palmyra West Apartments development in Palmyra, with more than 70% of the 130 apartments sold, representing about $67 million in presales and an expected total end sales value of around $98 million. The low-rise, medium-density project, positioned 4 km from Fremantle and offering extensive lifestyle amenities, is set to begin construction in March 2026 and be completed in the first half of FY28, underscoring Finbar’s ability to meet demand in an increasingly affordability-conscious market and reinforcing its brand strength with significant participation from first home buyers and repeat customers.

The most recent analyst rating on (AU:FRI) stock is a Hold with a A$0.90 price target. To see the full list of analyst forecasts on Finbar Group Limited stock, see the AU:FRI Stock Forecast page.

Finbar Boosts $1.6bn Pipeline with $16.5m South Perth Site Acquisition

Finbar Group Limited has agreed to acquire a 4,093sqm development site spanning 18-22 Bowman Street and 19 Labouchere Road in South Perth for $16.5 million via an off-market private sale, with settlement expected in July 2026 subject to due diligence and other conditions. The planned high-density apartment project, located opposite Finbar’s completed Civic Heart development and close to key local amenities, is expected to launch to market in mid-2028 and reach completion in FY2031 or FY2032, with an estimated end value of about $350 million; this acquisition increases Finbar’s development pipeline to more than $1.6 billion, reinforcing its strategic foothold in South Perth and demonstrating its capacity to pursue sizeable projects supported by a strong cash position and disciplined capital allocation, with the company positioning the project as a long-term value creator for shareholders and a source of high-demand housing in a prime amenity-rich suburb.

The most recent analyst rating on (AU:FRI) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Finbar Group Limited stock, see the AU:FRI Stock Forecast page.