hipages Group Holdings Ltd. (HPG) AI Stock Analysis

• Market Cap: AU$99.26M
• Dividend Yield: N/A
• Average Volume (3M): 284.68K
• Price to Earnings (P/E): 15.2
• Beta (1Y): 0.68
• Revenue Growth: 10.40%
• EPS Growth: -32.96%
• Country: AU
• Employees: N/A
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 0.02
• Shares Outstanding: 136,903,920
• 10 Day Avg. Volume: 121,169
• 30 Day Avg. Volume: 284,679
• PEG Ratio: -1.61
• Price to Book (P/B): 2.94
• Price to Sales (P/S): 1.53
• P/FCF Ratio: 5.79
• 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$1.75
• Price Target Upside: 41.13% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 0.04
• Revenue Forecast (FY): AU$90.61M

• Rating: 59 Neutral
• Price Target: AU$0.76 ▼(-38.87% Downside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is supported by solid financial performance (strong cash flow, improving margins, and low leverage), but is held back by weak technicals (price below key moving averages with bearish momentum). Valuation is neutral-to-slightly expensive at a 22.75 P/E, with no dividend yield data to add support.

Positive Factors

Strong free cash flow

Sustained free cash flow growth strengthens funding for product development, marketing and working capital without relying on new debt or equity. For a lead‑generation marketplace, robust cash generation supports platform investment, seller incentives and resilience through market cycles.

Improving margins

Rising gross and operating margins imply better unit economics and cost control across the platform. As a software‑enabled marketplace, margin expansion is durable if scale and automation continue to reduce variable fulfilment costs and boost software take‑rates over the coming months.

Conservative leverage

Low leverage preserves financial flexibility for strategic investments or downturns and reduces refinancing risk. A conservative capital structure supports sustained investment in customer acquisition and product improvements without pressuring cash flow or solvency metrics.

Negative Factors

Modest net profitability

Despite margin gains, modest net margins limit retained earnings and the company’s ability to convert revenue growth into shareholder returns. For a platform business, persistent modest profitability can constrain reinvestment cadence and delay achievement of higher ROI thresholds.

Slow recent revenue growth

A single‑digit revenue uptick indicates the marketplace may be maturing or facing competitive pressure. Slower top‑line growth reduces network effects momentum, making it harder to attract new professionals and homeowners and to scale monetisation without further product or geographic expansion.

Moderate ROE

Moderate ROE signals that capital deployed is not yet delivering strong returns. For investors, sustained improvement in ROE is needed to justify growth investments; otherwise the company may need structural margin or revenue acceleration to materially lift capital efficiency.

hipages Group Holdings Ltd. Business Overview & Revenue Model

Company Description

Hipages Group Holdings Limited, together with its subsidiaries, operates as an online tradie marketplace and software as a service provider in Australia and New Zealand. The company offers hipages, an online tradie marketplace that provides job leads from homeowners and organizations looking for qualified professionals; and Builderscrack, an online tradie platform that enables consumers to connect with trade service providers. It also provides Tradiecore, a workflow management software that eases the burden of everyday admin for tradie businesses; and Bricks and Agent, a property maintenance platform. The company was founded in 2004 and is based in Sydney, Australia.

How the Company Makes Money

HPG primarily makes money by monetising demand from homeowners into paid customer acquisition and software/services for tradespeople and service professionals. Key revenue streams include: (1) Subscription and membership fees paid by service professionals to access the platform and receive leads/opportunities from consumer job requests; (2) Lead-based monetisation, where service professionals pay for access to job leads or pay per lead/enquiry, depending on the product and market settings; (3) Value-added products sold to service professionals that support winning and servicing jobs (e.g., profile/advertising enhancements and business tools that help manage quoting, communication, and workflow). The company’s earnings are driven by the volume of homeowner job requests, conversion of those requests into payable leads, retention and growth of paying professionals on the platform, and the effectiveness of product features that improve match quality and job completion outcomes. null

hipages Group Holdings Ltd. Financial Statement Overview

Summary

Solid fundamentals overall: revenue growth remains positive and gross/EBIT/EBITDA margins are improving, supported by strong free cash flow growth and healthy cash conversion. Balance sheet leverage is conservative, though net profitability and ROE remain only moderate.

Income Statement

hipages Group Holdings Ltd. has shown consistent revenue growth over the years, with a 5.28% increase in the latest period. The gross profit margin has improved significantly, indicating better cost management. However, the net profit margin remains modest, suggesting room for improvement in profitability. The EBIT and EBITDA margins have shown positive trends, reflecting operational efficiency gains.

Balance Sheet

The company's debt-to-equity ratio is relatively low, indicating a conservative leverage position. Return on equity has improved but remains moderate, suggesting potential for higher profitability. The equity ratio is stable, reflecting a solid capital structure. Overall, the balance sheet shows financial stability with manageable debt levels.

Cash Flow

hipages Group Holdings Ltd. has demonstrated strong free cash flow growth, with a 13.08% increase in the latest period. The operating cash flow to net income ratio is healthy, indicating efficient cash generation relative to earnings. The free cash flow to net income ratio is also strong, highlighting effective cash management. Overall, the cash flow position is robust, supporting future growth and investment.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	87.48M	83.18M	75.31M	65.89M	60.66M	55.81M
Gross Profit	28.10M	50.04M	46.44M	-3.31M	-1.56M	36.39M
EBITDA	13.54M	2.31M	20.45M	9.60M	10.20M	4.99M
Net Income	5.06M	2.39M	3.56M	-5.14M	-910.00K	-6.20M
Balance Sheet
Total Assets	70.20M	67.71M	63.81M	62.22M	67.76M	57.28M
Cash, Cash Equivalents and Short-Term Investments	29.87M	27.09M	21.27M	12.35M	12.24M	30.30M
Total Debt	14.57M	8.97M	9.70M	11.71M	13.85M	8.58M
Total Liabilities	23.28M	24.56M	25.05M	28.02M	30.66M	21.54M
Stockholders Equity	46.92M	43.15M	38.76M	34.20M	37.10M	35.74M
Cash Flow
Free Cash Flow	25.43M	21.91M	19.13M	-251.00K	-564.00K	-312.00K
Operating Cash Flow	25.99M	22.51M	19.31M	15.70M	12.59M	6.86M
Investing Cash Flow	-15.18M	-15.10M	-5.29M	-15.50M	-28.67M	-7.14M
Financing Cash Flow	-2.08M	-1.91M	-2.44M	-2.58M	-3.28M	21.76M

hipages Group Holdings Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.24
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HPG, the sentiment is Negative. The current price of 1.24 is above the 20-day moving average (MA) of 0.81, above the 50-day MA of 0.96, and above the 200-day MA of 1.12, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 30.66 is Neutral, neither overbought nor oversold. The STOCH value of -1.45 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:HPG.

hipages Group Holdings Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
HPG	59 Neutral	AU$99.26M	15.19	11.24%	―	10.40%	-32.96%
VIG	48 Neutral	AU$30.75M	-7.42	-2.31%	―	2.98%	93.55%
XF1	43 Neutral	AU$19.81M	-13.76	46.05%	―	7.32%	67.11%
FLX	41 Neutral	AU$32.84M	-3.17	-151.85%	―	21.82%	6.83%
DUB	40 Underperform	AU$29.72M	-2.96	-203.17%	―	9.14%	65.30%

hipages Group Holdings Ltd. Corporate Events

Hipages Issues New Shares Following Conversion of Unquoted Securities

Hipages Group Holdings Ltd, a home services marketplace operator listed on the ASX under the code HPG, continues to expand its equity base as part of its capital management and incentive structures. The company’s core platform links homeowners with tradespeople, positioning it within the broader digital services and gig-economy ecosystem.

The company has issued 305,632 new fully paid ordinary shares following the exercise or conversion of previously unquoted securities on March 5, 2026. This increase in issued capital modestly dilutes existing shareholders but may reflect the vesting of employee or management incentives, aligning stakeholders’ interests with the company’s long-term performance.

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

Hipages Director Catherine Hill Increases Shareholding Through Equity Plan

Hipages Group Holdings has disclosed a change in director Catherine Hill’s interests in the company’s securities following the exercise of rights under its Management Equity Plan. Hill converted 23,631 rights into fully paid ordinary shares, increasing her holding from 20,678 to 44,309 shares, with no remaining rights on issue in her name.

The transaction, executed via custodian BNP Paribas Nominees P/L HUB24 Custodian Services, involved no cash payment on conversion of rights into shares, with the estimated value of each right based on the five-day volume-weighted average price prior to 5 March 2026. The change reflects routine equity-based remuneration and further aligns the director’s interests with those of shareholders without altering the company’s overall capital structure in a material way.

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

hipages Group Delivers Profit Surge and Stronger Asset Backing but Keeps Dividends on Hold

hipages Group Holdings reported an 11% rise in total revenue to A$44.9 million for the half-year ended 31 December 2025, driven by growth in ordinary activities. Net profit attributable to members surged to A$2.7 million from A$73,000 a year earlier, while net tangible asset backing per share increased sharply to A$0.088.

The company confirmed there were no changes in ownership of controlled entities during the period and reiterated that it will not pay a dividend for the half-year, consistent with the prior period. The results, reviewed by PwC, suggest improved profitability and a stronger balance sheet, but also indicate that management is prioritising reinvestment or balance sheet strength over near-term capital returns to shareholders.

The most recent analyst rating on (AU:HPG) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on hipages Group Holdings Ltd. stock, see the AU:HPG Stock Forecast page.

hipages sets date and investor webinar for H1 FY26 results

Hipages Group Holdings will release its financial results for the six months ended 31 December 2025 on 24 February 2026, and will host a webinar and Q&A session for investors and analysts the same morning, led by CEO and Co-Founder Roby Sharon-Zipser and CFOO Jaco Jonker. The event underscores the company’s ongoing engagement with the investment community as it pursues its strategic shift toward a more integrated SaaS-led platform for tradies and home improvement businesses, with stakeholder interest likely focused on how this evolution is translating into growth and platform utilisation.

Investors and analysts can participate in the Q&A by submitting written questions before or during the live session or by requesting verbal access through the webinar chat, reflecting hipages’ effort to maintain transparent communication around its financial performance and strategic progress. The company is also promoting its Investor Hub for ongoing updates, signalling a push to deepen investor relations as it scales its marketplace and workflow management offerings across Australia and New Zealand.

The most recent analyst rating on (AU:HPG) stock is a Buy with a A$1.00 price target. To see the full list of analyst forecasts on hipages Group Holdings Ltd. stock, see the AU:HPG Stock Forecast page.

hipages Issues 262,175 Unquoted Rights Under Employee Incentive Scheme

hipages Group Holdings Ltd has notified the ASX of the issue of 262,175 unquoted rights securities (HPGAA) under its employee incentive scheme, with an issue date of 7 January 2026. These rights are subject to transfer restrictions and will not be quoted on the ASX until those restrictions lapse, highlighting the company’s ongoing use of equity-based remuneration to align employee interests with shareholders and support talent retention in its digital trades marketplace business.

The most recent analyst rating on (AU:HPG) stock is a Buy with a A$1.50 price target. To see the full list of analyst forecasts on hipages Group Holdings Ltd. stock, see the AU:HPG Stock Forecast page.

Hipages Reports Lapse of 39,703 Conditional Performance Rights

Hipages Group Holdings Ltd has notified the market of the cessation of 39,703 performance rights (security code HPGAA) after they lapsed on 31 December 2025 because their conditions were not met or became incapable of being satisfied. The lapsing of these conditional rights marginally reduces the company’s pool of potential equity-based remuneration, signalling that certain performance or service hurdles tied to these rights were not achieved, but does not affect the existing ordinary share capital on issue.

The most recent analyst rating on (AU:HPG) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on hipages Group Holdings Ltd. stock, see the AU:HPG Stock Forecast page.