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Omni Bridgeway
(Sydney:OBL)
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Rating:62Neutral
Price Target:
AU$1.50
▼(-3.85% Downside)
Action:Reiterated
Date:04/15/26
The score reflects a strong valuation (very low P/E) and a positive earnings-call outlook with improving profitability, fee momentum, and cost control. Offsetting factors are uneven underlying financial-statement performance (notably revenue volatility and mixed cash flow) and technically overbought indicators that add near-term risk despite an upward trend.
Positive Factors
Low leverage / strong balance sheet
Very low debt-to-equity (0.08) provides durable financial flexibility for a litigation funder. Low leverage reduces solvency risk through lumpy case outcomes, supports the firm's ability to underwrite multi-year disputes, and helps sustain originations and capital deployment during volatile legal timing.
Negative Factors
High revenue volatility
A 90% revenue decline highlights the business's inherent lumpiness and forecasting challenge. Such volatility weakens forward visibility for earnings and cash flows, complicating capital allocation and investor confidence, and increases dependence on occasional large case outcomes.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Very low debt-to-equity (0.08) provides durable financial flexibility for a litigation funder. Low leverage reduces solvency risk through lumpy case outcomes, supports the firm's ability to underwrite multi-year disputes, and helps sustain originations and capital deployment during volatile legal timing.
Read all positive factors
Omni Bridgeway (OBL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$438.81M
Dividend YieldN/A
Average Volume (3M)561.29K
Price to Earnings (P/E)0.9
Beta (1Y)0.18
Revenue Growth-14.04%
EPS GrowthN/A
CountryAU
Employees167
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)1.63
Shares Outstanding289,642,200
10 Day Avg. Volume470,891
30 Day Avg. Volume561,287
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.57
Price to Sales (P/S)29.29
P/FCF Ratio22.33
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)0.26
Revenue Forecast (FY)AU$143.00M
Omni Bridgeway Business Overview & Revenue Model
Company Description
Omni Bridgeway (OBL) is a litigation finance and dispute-resolution funding company that provides capital and related services to support legal claims and judgments. The group funds commercial litigation, arbitration, and enforcement/recovery acti...
How the Company Makes Money
OBL makes money by investing capital into legal claims and dispute portfolios and earning a return that is typically contingent on a successful outcome. Key revenue streams include: (1) Case/claim funding returns: OBL finances legal fees, expert c...
Omni Bridgeway Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Aug 27, 2026
Earnings Call Sentiment Positive
The call presented a broadly positive operational and financial performance: strong investment proceeds ($223.7M), large YoY profit improvement (NPAT $84.5M vs $18.7M), growing fee income, disciplined cost control (OpEx materially below budget) and solid portfolio metrics (MOIC 2.6x, 107% fair-value conversion, AUM $5.5B). Key strategic moves (AI adoption, team incentives, senior hires) and progress on capital formation further support growth. Offsetting these positives are discrete headwinds: significant FX (-$133M) and MLE (-$63M) fair-value impacts, reduced OBL-only deployments (−30%), incomplete fund closings with timing risk, and a legacy Westgem liability delaying distributions. On balance, the favorable investment returns, revenue/fee momentum and cost discipline outweigh the fundraising timing and one-off fair-value pressures, leading to a constructive outlook.Positive Updates
Strong investment proceeds and statutory profitability
Investment proceeds of $223.7 million in 1H FY'26 drove statutory net profit after tax of $84.5 million (earnings per share $0.29). Statutory NPAT rose from $18.7 million in 1H'25 to $84.5 million (≈+352% YoY).
Negative Updates
Negative FX impact on portfolio fair value
Significant FX movements (strong USD) caused a negative $133 million impact on total portfolio fair value during the period, reducing reported fair-value gains.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong investment proceeds and statutory profitability
Investment proceeds of $223.7 million in 1H FY'26 drove statutory net profit after tax of $84.5 million (earnings per share $0.29). Statutory NPAT rose from $18.7 million in 1H'25 to $84.5 million (≈+352% YoY).
Read all positive updates
Company Guidance
Management guided that Omni Bridgeway is on track to meet FY'26 and medium‑term targets: 1H results show investment proceeds of $223.7m (OBL‑only $37.8m), 45 completions, MOIC 2.6x and a fair‑value conversion ratio of 107%; AUM is $5.5bn (up 5% since June), portfolio fair value $3.8bn (OBL‑only ~$800m); statutory total income $179.5m, NPAT $84.5m, EPS $0.29, annualized ROE 23.9% and book value per share $3.20 (up 7%); fee income was $18m for the half (31% YoY increase), tracking to a FY'26 target of ~$35m (management is targeting ~$38m for the next 12 months) and fee income has a 28% CAGR since 2023; cash OpEx was < $35m for the half (OBL‑only cash OpEx $34.4m) with full‑year OpEx expected below the $80m FY'26 budget (platform expense target $75m next 12 months); cost coverage was just over 50% for the period and is targeted to reach 70% by FY'28; liquidity and capital formation guidance included OBL‑only cash and receivables of $149m (up $3m since June), an additional close of USD $228m for Funds 4/5 Series 2 plus $8.2m of sidecar capital, an expected full close in the coming period, and a P50 Monte‑Carlo cash outlook of ~ $80m to OBL‑only from completions with associated deployments just over $20m, with management expecting positive free cash flow for the year ahead.Omni Bridgeway Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
60
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 91.89M | 13.00M | 71.05M | 11.47M | 21.87M | 6.08M |
| Gross Profit | 34.19M | 2.89M | 1.33M | -59.54M | -35.10M | -48.70M |
| EBITDA | 26.31M | 533.66M | 26.07M | 6.68M | 8.84M | -24.71M |
| Net Income | 466.32M | 349.80M | -87.52M | -31.66M | -45.65M | -25.45M |
Balance Sheet | ||||||
| Total Assets | 1.26B | 1.19B | 1.24B | 1.14B | 1.08B | 1.09B |
| Cash, Cash Equivalents and Short-Term Investments | 187.18M | 181.34M | 135.88M | 114.79M | 158.97M | 141.34M |
| Total Debt | 49.81M | 55.40M | 271.80M | 199.58M | 161.93M | 151.37M |
| Total Liabilities | 334.03M | 323.13M | 441.97M | 354.73M | 336.29M | 323.60M |
| Stockholders Equity | 733.92M | 668.59M | 250.72M | 348.85M | 328.89M | 331.87M |
Cash Flow | ||||||
| Free Cash Flow | -28.20M | 17.05M | -87.96M | -296.67M | -188.69M | -231.79M |
| Operating Cash Flow | -28.09M | 17.09M | -87.88M | -130.43M | -74.55M | -97.92M |
| Investing Cash Flow | 257.10M | 284.10M | 62.06M | 30.56M | 163.47M | 46.80M |
| Financing Cash Flow | -293.24M | -273.69M | 47.47M | 57.82M | -74.29M | 3.66M |
Omni Bridgeway Peers Comparison
UnderperformOutperform
Sector (68)
AU:OBL
Omni Bridgeway
1.43
-0.07
-4.67%
AU:CCP
Credit Corp Group Limited
13.35
-3.40
-20.32%
AU:PNC
Pioneer Credit Ltd
0.68
0.16
29.81%
Omni Bridgeway Corporate Events
Omni Bridgeway Posts Record FY26 Completions and Commits New Capital for Growth
Jul 30, 2026
Omni Bridgeway capped FY26 with record investment activity and disciplined execution, delivering 80 full and partial completions that generated A$350.5 million in cash investment proceeds and a 2.3x multiple on invested capital. Management fees re...
Omni Bridgeway Tightens Global Securities Trading Rules
Jul 30, 2026
Omni Bridgeway Limited has lodged a revised Securities Trading Policy with the ASX, updating the rules that govern how directors, employees and other restricted persons may trade in the company’s securities. The policy applies globally to al...
Omni Bridgeway Expands Share Base Through Conversion of Unquoted Securities
Jul 7, 2026
Omni Bridgeway Limited has notified the market of the issue and transfer of 345,129 ordinary fully paid shares, classified as U.S. prohibited, following the exercise or conversion of unquoted options or other convertible securities effective 30 Ju...
Omni Bridgeway Reports Lapse of 283,730 Performance Rights
Jul 7, 2026
Omni Bridgeway Limited has updated the market on a change to its issued capital, confirming that a tranche of performance rights has ceased. The litigation funder disclosed that 283,730 performance rights, classified under ASX code OBLAB, have lap...
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.