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Morphic Ethical Equities Fund Ltd.
(Sydney:MEC)
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Rating:73Outperform
Price Target:
AU$1.50
▲(35.14% Upside)
Action:Upgraded
Date:12/30/25
The score is driven primarily by strong financial positioning (especially the low-leverage balance sheet and the 2025 profitability rebound) and attractive valuation (low P/E with a dividend). Offsetting these positives are historically volatile earnings/cash flows and currently neutral-to-soft technical momentum (negative MACD).
Positive Factors
Conservative balance sheet
A very low debt-to-equity ratio provides durable financial flexibility for a listed investment vehicle. It reduces default and forced-sale risk in downturns, supports stable distributions or opportunistic purchases, and preserves NAV resilience across market cycles.
Negative Factors
Multi-year earnings volatility
Large multi-year swings in earnings and cash flow undermine predictability of returns for shareholders. For an investment vehicle, inconsistent performance weakens confidence, complicates AUM retention and distribution planning, and raises questions about repeatable manager skill.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
A very low debt-to-equity ratio provides durable financial flexibility for a listed investment vehicle. It reduces default and forced-sale risk in downturns, supports stable distributions or opportunistic purchases, and preserves NAV resilience across market cycles.
Read all positive factors
Morphic Ethical Equities Fund Ltd. (MEC) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$37.74M
Dividend Yield1.33%
Average Volume (3M)20.37K
Price to Earnings (P/E)11.3
Beta (1Y)0.42
Revenue Growth-27.75%
EPS Growth5.14%
CountryAU
Employees2
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-0.01
Shares Outstanding30,316,496
10 Day Avg. Volume14,978
30 Day Avg. Volume20,368
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.95
Price to Sales (P/S)4.84
P/FCF Ratio10.65
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
Morphic Ethical Equities Fund Ltd. Business Overview & Revenue Model
Company Description
Morphic Ethical Equities Fund Limited is an equity mutual fund launched and managed by Morphic Asset Management Pty Limited. The fund invests in public equity markets across the globe. It also invests in derivatives. The fund invests in stocks of ...
How the Company Makes Money
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Morphic Ethical Equities Fund Ltd. Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
88
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Jun 2024 | Jun 2023 | Jun 2023 | Sep 2021 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 186.90K | 8.12M | 186.90K | 11.93M | 886.27K | 21.57M |
| Gross Profit | -580.04K | 8.12M | -580.04K | 11.93M | -196.71K | 21.57M |
| EBITDA | -1.23M | 7.05M | -1.23M | 10.72M | -21.53M | 19.84M |
| Net Income | -950.35K | 5.44M | -950.35K | 7.56M | -15.10M | 13.94M |
Balance Sheet | ||||||
| Total Assets | 41.62M | 44.26M | 41.62M | 63.66M | 62.65M | 90.11M |
| Cash, Cash Equivalents and Short-Term Investments | 3.58M | 2.01M | 3.58M | 7.03M | 51.50M | 16.10M |
| Total Debt | 120.00 | 994.29K | 120.00 | 308.03K | 0.00 | 10.06M |
| Total Liabilities | 273.52K | 2.75M | 273.52K | 1.01M | 3.68M | 16.95M |
| Stockholders Equity | 41.34M | 41.51M | 41.34M | 62.65M | 58.96M | 73.16M |
Cash Flow | ||||||
| Free Cash Flow | 21.63M | 3.68M | 21.63M | 4.11M | 2.72M | -2.32M |
| Operating Cash Flow | 21.63M | 3.68M | 21.63M | 4.11M | 2.72M | -2.32M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7.74M |
| Financing Cash Flow | -20.49M | -5.37M | -20.49M | -3.66M | -2.88M | -1.91M |
Morphic Ethical Equities Fund Ltd. Technical Analysis
Negative
1.11
Price Trends
1.31
Negative
1.24
Positive
1.19
Positive
Market Momentum
-0.01
Positive
24.24
Positive
20.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MEC, the sentiment is Negative. The current price of 1.11 is below the 20-day moving average (MA) of 1.33, below the 50-day MA of 1.31, and below the 200-day MA of 1.19, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 24.24 is Positive, neither overbought nor oversold. The STOCH value of 20.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MEC.
Morphic Ethical Equities Fund Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | AU$556.02M | 10.47 | 9.43% | 4.41% | 13.02% | 9.62% | |
79 Outperform | AU$3.08B | 11.58 | 17.76% | 3.34% | 138.96% | -62.36% | |
73 Outperform | AU$37.74M | 11.27 | 9.09% | 1.33% | -27.75% | 5.14% | |
69 Neutral | AU$673.21M | 34.75 | 2.49% | 5.33% | 66.62% | -84.92% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | AU$450.76M | 15.85 | 5.88% | 6.56% | 66.51% | -4.07% | |
64 Neutral | AU$525.89M | 22.21 | 55.44% | 2.70% | 14.08% | 61.35% |
* Financial Sector Average
AU:MEC
Morphic Ethical Equities Fund Ltd.
1.25
0.12
11.06%
AU:PIC
Perpetual Equity Investment Co. Ltd.
1.17
-0.01
-0.93%
AU:AEF
Australian Ethical Investment Ltd
4.74
-1.96
-29.30%
AU:HM1
Hearts and Minds Investments Ltd
2.94
-0.20
-6.37%
AU:FGX
Future Generation Australia Limited Stapled Security
1.35
0.17
14.41%
AU:MFF
MFF Capital Investments Ltd.
5.17
0.88
20.63%
Morphic Ethical Equities Fund Ltd. Corporate Events
Morphic Ethical Equities Fund rides AI boom to strong FY26 while broadening portfolio
Jul 15, 2026
Morphic Ethical Equities Fund reported a robust June quarter, delivering a 24.6% net return versus 13.6% for its global equity benchmark and posting a 27.4% gain for FY26 against 17.0% for the index. Management attributed the outperformance to con...
Morphic Ethical Equities Fund Reveals NTA and Share Price Update
Jul 15, 2026
Morphic Ethical Equities Fund Ltd., listed on the ASX under the ticker MEC, operates in the responsible investment and ethical equities sector. The fund focuses on global listed equities, aiming to provide investors with exposure to companies that...
Morphic Ethical Equities Fund Reports June NTA Showing Price Discount
Jul 12, 2026
Morphic Ethical Equities Fund Ltd., an ASX-listed ethical investment company, reported its estimated unaudited net tangible assets per share as at 30 June 2026. The fund, which focuses on responsibly screened global equities, continues to position...
Morphic Ethical Equities Fund Reports NTA Showing Market Discount
Jul 3, 2026
Morphic Ethical Equities Fund Ltd. has reported its estimated unaudited net tangible assets per share as at 26 June 2026, highlighting a pre-tax NTA of $1.6049 and a post-tax NTA of $1.4785. The closing share price stood at $1.360, indicating that...
Morphic Ethical Equities Fund Updates On-Market Share Buy-Back Activity
Jun 30, 2026
Morphic Ethical Equities Fund Ltd. has issued an updated notification of its ongoing on-market share buy-back program for its ordinary fully paid shares on the ASX. The latest daily disclosure shows a cumulative 1,585,707 shares repurchased prior ...
Morphic Ethical Equities Fund Updates Market on June NTA and Share Price
Jun 25, 2026
Morphic Ethical Equities Fund Limited reported its estimated unaudited net tangible assets per share as at 19 June 2026, providing both pre-tax and post-tax NTA figures alongside the prevailing share price. The disclosure offers investors updated ...
Morphic Ethical Equities Fund Issues Daily Update on Ongoing Share Buy-Back
Jun 24, 2026
Morphic Ethical Equities Fund Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The latest daily update, dated 25 June 2026, reports that the fund has...
Morphic Ethical Equities Fund Continues On-Market Share Buy-Back
Jun 23, 2026
Morphic Ethical Equities Fund Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares under the code MEC. The latest update, dated 24 June 2026, reports that...
Morphic Ethical Equities Fund Updates ASX on Ongoing Share Buy-Back
Jun 22, 2026
Morphic Ethical Equities Fund Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares, trading under the code MEC. The latest update, dated 23 June 2026, rep...
Morphic Ethical Equities Fund Rides AI Rally to Outperform Global Markets
Jun 22, 2026
Morphic Ethical Equities Fund Limited reported a strong May performance, delivering a 9.0% net return versus 5.1% for its global equity benchmark, and has significantly outperformed over the past year. The result reflects heavy exposure to the ong...
Morphic Ethical Equities Fund Cuts Share Count via On-Market Buyback
Jun 22, 2026
Morphic Ethical Equities Fund Ltd. has cancelled 120,994 ordinary fully paid shares as part of an on-market buyback, reducing its total issued capital. The cessation of these securities, effective June 22, 2026, reflects capital management activit...
Morphic Ethical Equities Fund Updates NTA and Share Price Metrics
Jun 19, 2026
Morphic Ethical Equities Fund Ltd. reported its estimated unaudited net tangible assets per share as at 12 June 2026, providing both pre-tax and post-tax NTA figures alongside the closing share price. The disclosure gives investors an updated view...
Morphic Ethical Equities Fund Continues Active On-Market Share Buy-Back
Jun 19, 2026
Morphic Ethical Equities Fund Limited has issued an updated notification to the ASX confirming the ongoing execution of its on-market share buy-back program for its ordinary fully paid shares under code MEC. The latest daily report shows a cumulat...
Morphic Ethical Equities Fund Trades Below Estimated NTA in June Update
Jun 17, 2026
Morphic Ethical Equities Fund Ltd. reported its estimated unaudited net tangible assets per share as of 5 June 2026, with a pre-tax NTA of $1.5410 and a post-tax NTA of $1.4303. The company also disclosed a closing share price of $1.305, indicatin...
Morphic Ethical Equities Fund Updates Daily On‑Market Buy-Back Activity
Jun 4, 2026
Morphic Ethical Equities Fund Limited, an ASX-listed ethical investment company trading under the code MEC, invests in ordinary fully paid securities while applying responsible investment principles. The fund targets investors seeking exposure to ...
Morphic Ethical Equities Fund Continues On-Market Share Buy-Back
Jun 3, 2026
Morphic Ethical Equities Fund Limited has reported ongoing activity under its on-market share buy-back program for its ordinary fully paid shares, listed as MEC on the ASX. The company continues to reduce its share count as part of a capital manag...
Morphic Ethical Equities Fund Updates Daily On‑Market Buy‑Back Activity
Jun 2, 2026
Morphic Ethical Equities Fund Limited, an ASX-listed ethical investment company trading under the ticker MEC, offers investors access to a diversified portfolio of equities selected using responsible investment criteria. The fund structures its ca...
Morphic Ethical Equities Fund Cancels Shares After On-Market Buyback
May 25, 2026
Morphic Ethical Equities Fund Limited has announced the cancellation of 186,258 ordinary fully paid shares following an on-market buyback completed on May 25, 2026. The reduction in issued capital through this buyback may marginally enhance value ...
Morphic Ethical Equities Fund Surges on AI Infrastructure Rally
May 13, 2026
Morphic Ethical Equities Fund Limited reported a strong April performance, delivering an 11.4% net return and significantly outperforming its global equity benchmark. The fund continues to apply strict ethical screens, maintaining an equity portfo...
Morphic Ethical Equities Fund Continues On-Market Share Buy-Back Program
May 12, 2026
Morphic Ethical Equities Fund Limited, an ASX-listed ethical investment company trading under the code MEC, provides investors with exposure to a portfolio of responsibly screened equity securities. The fund operates within the growing responsible...
Morphic Ethical Equities Fund Reports NTA Showing Discount to Share Price
May 12, 2026
Morphic Ethical Equities Fund Limited has released its estimated unaudited net tangible assets (NTA) per share as at 1 May 2026, providing an update for investors in its ethically focused global equities strategy. The fund reported an estimated pr...
Morphic Ethical Equities Fund Updates Daily On-Market Buy-Back
May 11, 2026
Morphic Ethical Equities Fund Limited has provided an updated notification on its ongoing on-market share buy-back of ordinary fully paid shares, identified under the ASX code MEC. The company reports that a cumulative 1,393,542 shares had been re...
Morphic Ethical Equities Fund Reports Progress in Ongoing Share Buy-Back
May 8, 2026
Morphic Ethical Equities Fund Limited has provided an updated notification on its ongoing on-market share buy-back program for its MEC ordinary fully paid shares. The latest update, dated 8 May 2026, reports that a total of 1,367,509 shares had be...
Morphic Ethical Equities Fund Trades at Discount to Estimated NTA
May 7, 2026
Morphic Ethical Equities Fund Ltd. reported an estimated unaudited net tangible asset value per share of $1.4465 pre-tax and $1.3604 post-tax as at 30 April 2026, against a closing share price of $1.21. The discount of the share price to NTA may b...
Morphic Ethical Equities Fund Reports Latest Daily On-Market Buy-Back Activity
May 5, 2026
Morphic Ethical Equities Fund Limited, an ASX-listed ethical investment company trading under the ticker MEC, offers investors access to a portfolio of responsibly screened equities via its ordinary fully paid shares. The fund targets investors se...
Morphic Ethical Equities Fund Continues On‑Market Share Buy‑Back
May 5, 2026
Morphic Ethical Equities Fund Limited has issued an updated notification to the ASX confirming the continuation of its on‑market share buy‑back program for its ordinary fully paid shares. The fund reported that a total of 1,236,208 sha...
Morphic Ethical Equities Fund Reports NTA Showing Shares at Discount
May 4, 2026
Morphic Ethical Equities Fund Ltd. reported its estimated unaudited net tangible assets per share as at 24 April 2026, providing both pre tax and post tax figures alongside the closing share price. The pre tax NTA was reported at $1.4386 per share...
Morphic Ethical Equities Fund Cancels Shares After On-Market Buy-Back
Apr 26, 2026
Morphic Ethical Equities Fund Limited has reduced its share capital through the cancellation of 277,503 ordinary fully paid shares on April 27, 2026, following an on-market buy-back. The move trims the number of MEC shares on issue and may margina...
Morphic Ethical Equities Fund Trades Below Estimated NTA
Apr 22, 2026
Morphic Ethical Equities Fund Ltd. has released an estimate of its unaudited net tangible assets per share as at 17 April 2026, reporting a pre‑tax NTA of $1.4548 and a post‑tax NTA of $1.3666. The company’s shares closed at $1.2...
Morphic Ethical Equities Fund Trades Below Estimated NTA
Apr 20, 2026
Morphic Ethical Equities Fund Ltd. reported an estimated unaudited net tangible asset value per share of $1.4075 pre-tax and $1.3313 post-tax as at 10 April 2026. The company’s shares closed at $1.15, indicating the stock is trading at a dis...
Morphic Ethical Equities Fund Navigates Iran Shock and AI Boom With Active Portfolio Shift
Apr 20, 2026
Morphic Ethical Equities Fund reported a 4.5% net loss in March, underperforming its MSCI ACWI benchmark for the month but outperforming it over the quarter, while delivering a 17.6% gain over the past year. The period was dominated by volatility ...
Morphic Ethical Equities Fund Reports Ongoing On‑Market Share Buy‑Back
Apr 19, 2026
Morphic Ethical Equities Fund Limited has provided an updated notification to the ASX confirming ongoing on‑market buy‑backs of its ordinary fully paid shares under its existing repurchase program. The latest daily update reports that ...
Morphic Ethical Equities Fund Trades at Discount to Estimated NTA
Apr 16, 2026
Morphic Ethical Equities Fund Ltd. reported an estimated unaudited net tangible asset value per share of $1.3334 pre-tax and $1.2757 post-tax as at 2 April 2026. The company’s shares closed at $1.13 on the same date, indicating that the stoc...
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.