Mystate Limited (MYS) AI Stock Analysis

• Market Cap: AU$672.98M
• Dividend Yield: 5.53%
• Average Volume (3M): 151.91K
• Price to Earnings (P/E): 13.0
• Beta (1Y): 0.84
• Revenue Growth: 14.46%
• EPS Growth: -6.87%
• Country: AU
• Employees: 292
• Sector: Financial
• Sector Strength: 87
• Industry: Banks - Regional
• EPS (TTM): 0.30
• Shares Outstanding: 169,089,480
• 10 Day Avg. Volume: 138,040
• 30 Day Avg. Volume: 151,908
• PEG Ratio: -1.64
• Price to Book (P/B): 1.04
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -12.49
• 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$4.53
• Price Target Upside: 13.82% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

Mystate Limited has a solid financial foundation with strong margins and operational cash generation. However, high leverage and inconsistent revenue growth are key risks. Despite a fair valuation and attractive dividend yield, technical indicators suggest bearish short-term momentum. The overall score reflects a balanced view of these factors, highlighting potential growth with prudent management.

Mystate Limited Business Overview & Revenue Model

Company Description

MyState Limited, through its subsidiaries, provides banking, trustee, and managed fund products and services in Australia. The company operates through two segments, Banking and Wealth Management. It offers personal and commercial lending, mortgage lending, savings and investment, and insurance products; and wealth management services under the MyState Bank brand. The company also provides a range of financial services, including managed investments; commercial lending; and trustee services that comprise estate planning, administration, and charitable trusts to individuals and corporate clients under the TPT Wealth brand. MyState Limited was founded in 2009 and is headquartered in Tasmania, Australia.

How the Company Makes Money

Mystate Limited generates revenue primarily through interest income on loans and credit products offered to its banking customers. The company earns interest on these financial products, which constitutes a significant portion of its income. Additionally, Mystate Limited collects fees from various banking services such as account maintenance, transaction fees, and foreign exchange services. In the wealth management sector, the company earns revenue through advisory fees, management fees on assets under management, and commissions on investment products. Partnerships with other financial institutions and cross-selling of financial products also contribute to its revenue streams.

Mystate Limited Financial Statement Overview

Summary

Mystate Limited displays a mix of strengths and challenges across its financial statements. The income statement reflects strong margins but fluctuating revenue growth. The balance sheet reveals high leverage, necessitating careful debt management, while the cash flow statement indicates good operational cash generation but highlights the need for improved free cash flow consistency. Overall, the company shows potential for growth with prudent financial management.

Income Statement

Mystate Limited shows a mixed performance in its income statement. The gross profit margin is strong due to high gross profit relative to revenue. However, the net profit margin has decreased slightly over the years, indicating pressure on profitability. The revenue growth rate has been volatile, with significant declines in the most recent period, suggesting challenges in maintaining revenue growth. EBIT and EBITDA margins are solid, demonstrating efficient operational management.

Balance Sheet

The company has a high debt-to-equity ratio, reflecting significant leverage, which poses a potential risk. However, its return on equity is commendable, indicating effective use of equity to generate profits. The equity ratio is relatively low, emphasizing the heavy reliance on debt financing. Overall, the balance sheet indicates financial stability but highlights the need for cautious management of leverage.

Cash Flow

Operating cash flow relative to net income is healthy, showing that the company generates sufficient cash from its operations. Free cash flow growth has been inconsistent, with a notable decline recently, impacting the company's ability to fund its growth without external financing. The free cash flow to net income ratio suggests effective conversion of earnings into cash.

Breakdown
TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement		Total Revenue
154.11M	151.23M	380.76M	189.67M	190.91M	217.66M
	Gross Profit
337.19M	150.54M	380.76M	189.67M	190.91M	217.66M
	EBIT
51.59M	61.26M	55.19M	45.37M	54.62M	42.99M
	EBITDA
53.64M	61.26M	0.00	50.55M	-1.22M	53.36M
	Net Income Common Stockholders
33.73M	35.29M	38.50M	32.03M	36.34M	30.06M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
195.51M	967.94M	127.78M	119.22M	80.27M	116.50M
	Total Assets
9.30B	9.17B	9.12B	8.08B	6.54B	6.10B
	Total Debt
2.15B	2.25B	1.99B	7.63B	6.11B	5.75B
	Net Debt
1.95B	2.09B	1.86B	7.51B	6.03B	5.63B
	Total Liabilities
8.83B	8.70B	8.67B	7.65B	6.13B	5.76B
	Stockholders Equity
469.71M	464.94M	457.56M	429.91M	415.21M	334.32M
Cash Flow		Free Cash Flow
-53.87M	18.88M	46.02M	38.10M	33.96M	446.30M
	Operating Cash Flow
-46.22M	31.34M	51.20M	43.15M	38.74M	451.37M
	Investing Cash Flow
120.94M	-12.46M	-1.00B	-1.50B	-491.00M	-392.62M
	Financing Cash Flow
-71.82M	-22.39M	957.38M	1.49B	416.02M	-22.24M

Mystate Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.98
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MYS, the sentiment is Positive. The current price of 3.98 is above the 20-day moving average (MA) of 3.81, above the 50-day MA of 3.79, and above the 200-day MA of 3.88, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 62.15 is Neutral, neither overbought nor oversold. The STOCH value of 63.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MYS.

Mystate Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MYS	66 Neutral	AU$672.98M	13.05	7.25%	5.53%	14.46%	-6.87%
Sector *	64 Neutral	$12.60B	9.73	7.92%	16985.68%	12.21%	-5.61%

Mystate Limited Corporate Events

Mystate Limited Director Acquires Shares, Signaling Confidence

Mystate Limited has announced a change in the director’s interest, with Jacqueline Korhonen, the director and company secretary of Monsour Enterprises Pty Ltd, acquiring 5,700 fully paid ordinary shares through an on-market purchase. This acquisition, valued at $21,035, marks a significant personal investment by Korhonen, potentially reflecting confidence in the company’s future performance and aligning her interests with those of the shareholders.

Dimensional Entities Ceases Substantial Holding in Mystate Limited

Mystate Limited has announced that Dimensional Entities has ceased to be a substantial holder in the company as of March 20, 2025. This change in substantial holding could impact the company’s voting securities and influence within the market, potentially affecting its strategic decisions and stakeholder interests.

MyState Limited Director Increases Shareholding

MyState Limited announced a change in the director’s interest in securities, with Sibylle Krieger acquiring 968 fully paid ordinary shares through the company’s Dividend Reinvestment Plan. This change increases her total holdings to 34,067 shares, reflecting a strategic move to strengthen her investment in the company, potentially signaling confidence in MyState’s future performance.

MyState Limited Director Increases Shareholding

MyState Limited announced a change in the director’s interest, with Vaughn Richtor acquiring 1,330 fully paid ordinary shares through the company’s Dividend Reinvestment Plan. This change increases Richtor’s total holdings to 46,756 shares, reflecting a strategic move to strengthen his stake in the company, potentially signaling confidence in MyState Limited’s future performance.

MyState Limited Director Increases Shareholding

MyState Limited announced a change in the director’s interest, with Andrea Waters acquiring 1,157 fully paid ordinary shares through the company’s Dividend Reinvestment Plan, increasing her total holdings to 40,673 shares. This move reflects continued confidence in the company’s performance and strategic direction, potentially strengthening stakeholder trust and enhancing market perception of MyState Limited.

MyState Limited Director Increases Stake via Dividend Reinvestment

MyState Limited announced a change in the director’s interest as Brett Alexander Morgan increased his holdings through the company’s Dividend Reinvestment Plan. This change reflects a modest increase in the director’s stake, which may indicate confidence in the company’s future performance and stability, potentially impacting stakeholder perceptions positively.

Mystate Limited Confirms DRP VWAP for Dividend Distribution

Mystate Limited has announced an update regarding its dividend distribution for ordinary fully paid shares, confirming the Dividend Reinvestment Plan (DRP) Volume Weighted Average Price (VWAP). This update pertains to the dividend distribution for the six-month period ending December 31, 2024, with a record date of March 5, 2025, and an ex-date of March 4, 2025. This confirmation provides clarity on the financial terms for shareholders participating in the DRP, potentially impacting their investment strategies and the company’s market positioning.

Mystate Limited Director Increases Shareholding

Mystate Limited has announced a change in the interest of its director, Gregory Noel Kenny, who has increased his indirect holding by acquiring 5,000 fully paid ordinary shares through an on-market purchase. This transaction, valued at $18,155, raises his total shareholding to 21,680 shares, reflecting a vote of confidence in the company’s future prospects and potentially impacting investor perceptions positively.

Mystate Limited Director Increases Shareholding

Mystate Limited has announced a change in the director’s interest, with Brett Alexander Morgan acquiring an additional 5,000 fully paid ordinary shares through Xanderjane Pty Ltd. This on-market purchase increases Morgan’s total holdings to 73,048 shares, reflecting a strategic move that may influence the company’s market perception and stakeholder confidence.

Mystate Limited Director Acquires Shares Signaling Confidence

Mystate Limited has announced a change in the director’s interest, specifically regarding Sandra Christine Birkensleigh. The director has acquired 5,230 fully paid ordinary shares through an on-market purchase valued at $19,977, marking a new interest in the company’s securities. This acquisition may indicate confidence in the company’s future prospects and could potentially influence stakeholder perception positively.

MyState Limited Appoints Jacqueline Korhonen as Director

MyState Limited has announced the appointment of Jacqueline Korhonen as a director, effective 19 February 2025. The announcement has no impact on the company’s securities as Korhonen holds no relevant interests in securities, either directly or indirectly, nor does she have any interests in contracts, indicating a straightforward appointment with no immediate financial implications for stakeholders.

MyState Limited Announces New Director Appointment

MyState Limited has made an announcement regarding the appointment of Gregory Noel Kenny as a director, effective from February 19, 2025. Kenny holds 16,680 fully paid ordinary shares through GNK Superannuation Pty Ltd. This update is likely to impact MyState Limited’s governance structure and could influence its strategic direction, potentially affecting stakeholders’ interests.

MyState Limited Announces Director’s Departure

MyState Limited has announced the cessation of Stephen Davy as a director, effective from February 19, 2025. This change in the board may impact the company’s strategic direction and stakeholder relations, as the departure of a director often influences governance and leadership within the organization.

Mystate Limited Issues New Securities on ASX

Mystate Limited has announced a new issuance of securities to be quoted on the Australian Securities Exchange (ASX). A total of 57,602,145 ordinary fully paid deferred securities have been issued as part of a transaction previously announced to the market. This issuance could potentially influence the company’s equity structure and market activity as it seeks to enhance its capital base and shareholder value.

Mystate Limited Announces 1H25 Financial Results and Merger Update

Mystate Limited has released its financial results for the first half of the 2025 fiscal year, ending December 31, 2024. The announcement includes insights from Brett Morgan, the Managing Director and CEO, and Gary Dickson, the Chief Financial Officer, as well as an update on a merger. This release likely impacts the company’s market positioning and may have implications for investors and stakeholders.

MyState Limited Reports Steady Profit Ahead of Auswide Merger

MyState Limited reported a steady underlying net profit of $17.5 million as it prepares for its merger with Auswide Bank, set to take place on February 19, 2025. Despite a challenging economic environment, MyState has grown its customer base, maintained a strong net promoter score, and strengthened its capital position with a total capital ratio increase to 17.0%. The company declared an interim dividend of 10.5 cents per share, reflecting a payout ratio of 77% of the underlying net profit, and highlighted its stable lending book and resilience against cost-of-living pressures.

Mystate Limited Declares Dividend for H2 2024

Mystate Limited announced a dividend distribution of AUD 0.105 per ordinary fully paid share for the period ending December 31, 2024. The ex-dividend date is set for March 4, 2025, with a record date of March 5, 2025, and payment scheduled for March 21, 2025. This announcement is relevant to stakeholders as it reflects the company’s financial strategy and shareholder return policies.

MyState Limited Announces Half-Year Financial Results with Stable Revenue but Decline in Statutory Profit

MyState Limited reported its financial results for the half year ended 31 December 2024, showing a slight increase in revenue from operations by 1.6% compared to the previous year, reaching $76,996,000. However, the statutory profit after tax attributable to members decreased by 8.9% to $15,919,000. The company declared a fully franked interim dividend of 10.5 cents per security for FY2025, slightly lower than the previous year’s interim dividend. The Net Tangible Assets per share increased from 336 cents to 342 cents, indicating a stable asset position.

Mystate Limited Confirms New Share Issuance

Mystate Limited has announced an update regarding the issuance of 57,602,145 fully paid ordinary shares. This update confirms the number of shares to be issued after calculating each Scheme Participant’s entitlement as of the Record Date. This issuance is part of a larger strategy to enhance the company’s capital structure and is expected to impact its market positioning positively, potentially benefiting stakeholders.

MyState Limited to Announce HY25 Results and Host Investor Teleconference

MyState Limited announced that it will release its half-year results on February 19, 2025. An investor teleconference hosted by the company’s Managing Director and CEO, Brett Morgan, and CFO, Gary Dickson, will follow the announcement. This event provides an opportunity for stakeholders to gain insights into the company’s financial performance and strategic direction.

Auswide Bank’s Acquisition by MyState Bank Becomes Legally Effective

Auswide Bank Ltd has announced that the proposed scheme of arrangement through which MyState Bank Limited will acquire all fully paid ordinary shares in Auswide is now legally effective. Trading in Auswide shares is expected to be suspended, and eligible shareholders are to receive new MyState shares, impacting the company’s operations and strategic positioning within the financial sector.

Mystate Limited Announces New Securities Issue

Mystate Limited announced a new issuance of 57,602,353 ordinary fully paid securities, with a proposed issue date set for February 19, 2025. This issuance is part of a placement or other type of issue and will be in compliance with ASX listing rules, potentially impacting the company’s market activity and stakeholder interests by increasing available shares.

Supreme Court Approves MyState Acquisition of Auswide Bank

The Supreme Court of New South Wales has approved the acquisition of Auswide Bank Ltd by MyState Bank Limited, a subsidiary of MyState Limited, through a scheme of arrangement. Upon implementation, eligible Auswide shareholders will receive MyState shares, with trading adjustments scheduled, marking a significant shift in Auswide’s operational structure and strategic direction in the banking sector.