MFF Capital Investments Ltd. (AU:MFF)
ASX:MFF
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MFF Capital Investments Ltd.
(Sydney:MFF)
Select Model
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Rating:79Outperform
Price Target:
AU$5.00
▲(1.01% Upside)
Action:N/ADate:01/04/26
The score is supported primarily by a very strong balance sheet and attractive valuation (low P/E with a solid dividend yield). Technicals are also favorable with an established uptrend and positive momentum. The main constraint is the historical volatility in revenue, EBITDA, and cash flows, including the 2025 decline versus 2024.
Positive Factors
Conservative balance sheet
Near-zero debt and materially reduced leverage give the company durable financial flexibility. This lowers solvency risk in downturns, supports steady distributions or opportunistic buybacks, and lets management allocate capital from a position of strength across market cycles.
Negative Factors
Revenue and earnings volatility
Large swings in revenue and earnings reduce predictability of returns and distributions for an investment vehicle. Structural volatility ties profitability to market conditions, complicating planning for steady dividends and making long-term cash flow forecasting less reliable.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Near-zero debt and materially reduced leverage give the company durable financial flexibility. This lowers solvency risk in downturns, supports steady distributions or opportunistic buybacks, and lets management allocate capital from a position of strength across market cycles.
Read all positive factors
MFF Capital Investments Ltd. (MFF) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.69B
Dividend Yield3.34%
Average Volume (3M)270.36K
Price to Earnings (P/E)5.9
Beta (1Y)0.71
Revenue Growth138.96%
EPS Growth-62.36%
CountryAU
Employees17
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.36
Shares Outstanding589,186,040
10 Day Avg. Volume228,081
30 Day Avg. Volume270,362
Financial Highlights & Ratios
PEG Ratio-1.52
Price to Book (P/B)1.05
Price to Sales (P/S)4.18
P/FCF Ratio7.62
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
MFF Capital Investments Ltd. Business Overview & Revenue Model
Company Description
MFF Capital Investments Limited is a closed ended equity mutual fund launched and managed by Magellan Asset Management Limited. The fund invests in public equity markets across the globe. It invests in stocks of companies operating across diversif...
How the Company Makes Money
MFF makes money primarily through investment returns earned on its portfolio. Key sources typically include: (1) dividends and distributions received from equity holdings or funds; (2) interest income earned on cash, fixed-income securities, or ot...
MFF Capital Investments Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
90
Very Positive
Cash Flow
63
Positive
| Breakdown | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 614.48M | 659.96M | 464.68M | -241.88M | 312.93M |
| Gross Profit | 607.83M | 678.44M | 505.21M | -246.36M | 342.88M |
| EBITDA | 615.62M | 662.38M | -20.97M | -17.06M | -25.43M |
| Net Income | 431.97M | 447.36M | 323.57M | -170.78M | 217.53M |
Balance Sheet | |||||
| Total Assets | 2.95B | 2.65B | 2.33B | 2.01B | 2.00B |
| Cash, Cash Equivalents and Short-Term Investments | 200.01M | 2.65B | 2.33B | 2.01B | 2.00B |
| Total Debt | 6.84M | 163.19M | 358.42M | 401.39M | 134.04M |
| Total Liabilities | 511.40M | 575.41M | 642.40M | 581.59M | 404.78M |
| Stockholders Equity | 2.44B | 2.07B | 1.69B | 1.42B | 1.59B |
Cash Flow | |||||
| Free Cash Flow | 336.60M | 313.19M | 137.05M | -221.63M | -793.29M |
| Operating Cash Flow | 336.62M | 313.19M | 137.05M | -221.63M | -793.29M |
| Investing Cash Flow | 13.77M | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | -240.33M | -251.99M | -142.02M | 251.82M | 116.19M |
MFF Capital Investments Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | AU$2.69B | 5.94 | 17.76% | 3.34% | 138.96% | -62.36% | |
71 Outperform | AU$1.88B | 6.19 | 14.31% | 5.99% | -12.42% | -36.36% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | AU$3.37B | 14.10 | 13.61% | 3.45% | 11.69% | -15.05% | |
60 Neutral | AU$579.79M | 80.82 | 1.27% | 3.56% | 21.34% | 3.66% | |
58 Neutral | AU$2.85B | 1.91 | 58.96% | 23.72% | 215.38% | -82.04% | |
50 Neutral | AU$1.91B | 9.75 | -1.00% | 6.01% | 2.23% | 96.71% |
* Financial Sector Average
AU:MFF
MFF Capital Investments Ltd.
4.57
0.65
16.58%
AU:MFG
Magellan Financial Group Ltd
10.20
3.00
41.69%
AU:PPT
Perpetual Limited
16.57
1.06
6.83%
AU:L1G
Platinum Asset Management Ltd
1.12
0.49
78.06%
AU:PNI
Pinnacle Investment Management Group Limited
14.82
-2.87
-16.21%
AU:MIR
Mirrabooka Investments Ltd
2.59
-0.47
-15.47%
MFF Capital Investments Ltd. Corporate Events
MFF Capital Updates Weekly NTA and Cash Position Ahead of Interim Dividend
Mar 23, 2026
MFF Capital Investments reported an approximate weekly net tangible asset value per share of $4.498 pre-tax, including a 10 cent fully franked interim dividend, and $3.905 post-tax as at 20 March 2026, down from $5.021 at 30 June 2025. The company...
MFF director Chris Mackay lifts stake with on-market share purchases
Mar 20, 2026
MFF Capital Investments Ltd. has reported a change in director Chris Mackay’s holdings, reflecting his direct and indirect interests in the company and related funds. Through various entities and associated parties, Mackay maintains substant...
MFF Capital Emphasises Informational Nature and Limits of Shareholder Webinar
Mar 17, 2026
MFF Capital Investments Ltd. has released an informational shareholder webinar presentation outlining key aspects of its investment approach and the nature of information provided to investors. The company stresses that the material is for informa...
MFF Capital Updates Weekly NTA and Cash Position Ahead of Interim Dividend
Mar 16, 2026
MFF Capital Investments Limited reported an approximate pre-tax net tangible asset value of $4.588 per share as of 13 March 2026, including a fully franked interim dividend of 10 cents per share, and a post-tax NTA of $3.970 per share after allowi...
MFF Capital Director Chris Mackay Boosts Shareholding with On-Market Purchases
Mar 13, 2026
MFF Capital Investments Ltd. has disclosed that director Chris Mackay increased his direct and indirect holding in the company through on-market purchases in mid-March 2026. He acquired 393,540 fully paid ordinary shares at prices between $4.56 an...
MFF Capital to Hold Online-Only Shareholder Webinar on 18 March
Mar 9, 2026
MFF Capital Investments Ltd. will host an online-only shareholder webinar at 11:00am AEDT on 18 March 2026, led by CEO and Managing Director Gerald Stack, Portfolio Manager and Executive Director Investments Capital Chris Mackay, and Montaka Glob...
MFF Capital Updates Weekly NTA and Cash Position
Mar 9, 2026
MFF Capital Investments reported an approximate weekly net tangible asset per share of $4.720 pre-tax, including a 10 cent fully franked interim dividend, and $4.056 post-tax as at 6 March 2026, down from $5.021 at 30 June 2025. The company also d...
MFF Capital director Chris Mackay lifts stake via on-market share purchases
Mar 6, 2026
MFF Capital Investments Limited has disclosed a change in director Chris Mackay’s interests, reporting that he has increased his direct and indirect holding in the company through on-market purchases. His total stake in MFF Capital now stand...
MFF Capital Builds War Chest as High‑Quality Portfolio Delivers Strong Profits
Mar 2, 2026
MFF Capital Investments reported unaudited pre‑tax net tangible assets of $4.728 per share and post‑tax NTA of $4.061 per share for February 2026, with figures cum a 10 cent fully franked interim dividend and expected fully franked FY2...
MFF Director Chris Mackay Lifts Stake in Company and Montaka ETFs
Feb 27, 2026
MFF Capital Investments director Chris Mackay has increased his direct and indirect holdings in the company and its associated Montaka exchange-traded funds through on-market purchases. Following the transactions on 24 February 2026, Mackay now ho...
MFF Capital Updates Weekly NTA and Cash Position Ahead of Interim Dividend
Feb 23, 2026
MFF Capital Investments Ltd. reported that its unaudited weekly net tangible asset value per share as of 20 February 2026 was approximately $4.856 pre-tax, including a 10 cent fully franked interim dividend, and $4.150 post-tax, after December 202...
MFF Capital’s Chris Mackay Lifts Stake in Company and Montaka Funds
Feb 20, 2026
MFF Capital Investments director Chris Mackay has increased his direct and indirect holdings in the company and associated Montaka Global funds through on-market purchases over 18 to 20 February 2026. The transactions expand his stake in MFF Capit...
MFF Capital names new Company Secretary as governance roles realigned
Feb 11, 2026
MFF Capital Investments has announced a change in its governance team, with Company Secretary Kathy Molla-Abbasi resigning effective 12 February 2026, and the board publicly acknowledging her contributions and service. The company has appointed He...
MFF Capital Reports Weekly Net Tangible Assets and Cash Position
Feb 9, 2026
MFF Capital Investments Limited has reported that its unaudited weekly net tangible assets per share as at 6 February 2026 were approximately $5.001 on a pre-tax basis, compared with $5.021 at 30 June 2025, and $4.213 on a post-tax basis. The comp...
MFF Capital Posts Higher NTA Amid Market and Political Headwinds
Feb 2, 2026
MFF Capital Investments Limited reported that its group net tangible assets per share as at 30 January 2026 were approximately $5.077 pre-tax, up from $5.021 at 30 June 2025, and $4.292 after tax, compared with $4.167 at 30 June 2025, indicating m...
MFF Capital Posts Higher NTA and Maintains Limited Cash Buffer
Jan 27, 2026
MFF Capital Investments Limited reported an approximate pre-tax net tangible asset (NTA) per share of $5.195 as at 23 January 2026, up from $5.021 at 30 June 2025, with post-tax NTA at $4.372, indicating a modest uplift in underlying portfolio val...
MFF Capital Reports Higher Weekly NTA and 7.5% Net Cash Position
Jan 19, 2026
MFF Capital Investments Limited reported an approximate weekly net tangible asset value of $5.292 per share pre-tax and $4.440 post-tax as at 16 January 2026, up from $5.021 per share pre-tax at 30 June 2025. The company also disclosed that net ca...
MFF Director Chris Mackay Increases Holdings in Montaka Global Funds via DRP
Jan 19, 2026
MFF Capital Investments Limited has disclosed a change in the securities interests of director Chris Mackay, who increased his indirect holdings in the Montaka Global Fund – Active ETF (ASX: MOGL) and the Montaka Global Extension Fund –...
MFF Director Increases Indirect Holdings in Montaka ETFs via Distribution Reinvestment
Jan 19, 2026
MFF Capital Investments Limited has disclosed a change in the indirect interests of director Sally Annabelle Chaplain following her participation in distribution reinvestment plans for two Montaka-branded exchange-traded funds. Through entities as...
MFF Capital Sets 2026 Reporting and Dividend Timetable, Schedules Investor Webinar
Jan 13, 2026
MFF Capital Investments Limited has released its indicative 2026 calendar for financial reporting and dividends, outlining expected dates for half-year and full-year results, interim and final dividend key dates, and its annual general meeting, al...
MFF Capital Reports Higher Weekly NTA and Maintains Solid Cash Position
Jan 12, 2026
MFF Capital Investments Limited reported an approximate weekly net tangible asset (NTA) value per share of $5.396 pre-tax as at 9 January 2026, up from $5.021 at 30 June 2025, and $4.512 post-tax, indicating growth in the underlying value of its i...
MFF Capital Investments Appoints Gerald Stack to Board with Aligned Equity Interests
Jan 6, 2026
MFF Capital Investments Limited has appointed Gerald Stack as a director effective 1 January 2026, expanding its board with an experienced investment professional whose interests are already aligned with shareholders through indirect holdings in t...
MFF Capital Reports Higher Weekly NTA and Maintains Solid Cash Position
Jan 5, 2026
MFF Capital Investments Limited reported an approximate weekly net tangible asset (NTA) per share of $5.256 pre-tax and $4.375 post-tax as at 2 January 2026, up from $4.999 pre-tax at 30 June 2025, indicating growth in the underlying value of its ...
MFF Capital Lifts NTA While Heavy Tax Payments Boost Franking Capacity
Jan 2, 2026
MFF Capital Investments reported an increase in its net tangible assets per share as at 31 December 2025, with pre-tax NTA rising to $5.264 from $4.999 at 30 June 2025 and post-tax NTA increasing to $4.380 from $4.150 over the same period. The com...
MFF Capital Reports Higher NTA and Maintains Moderate Cash Position
Dec 29, 2025
MFF Capital Investments Limited reported an unaudited weekly net tangible asset (NTA) per share of $5.294 pre-tax as at 26 December 2025, up from $4.999 at 30 June 2025, and $4.401 post-tax, indicating growth in the underlying value of its investm...
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.