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Pacific Current Group Ltd (AU:PAC)
ASX:PAC
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Pacific Current Group Ltd (PAC) AI Stock Analysis

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AU:PAC

Pacific Current Group Ltd

(Sydney:PAC)

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Outperform 70 (OpenAI - 5.2)
Rating:70Outperform
Price Target:
AU$12.00
▲(15.50% Upside)
Action:UpgradedDate:02/24/26
The score is driven primarily by solid financial stability and cash generation despite revenue/profit pressure, supported by attractive valuation (low P/E and meaningful dividend yield). The earnings call adds support via debt-free status, strong cash/NAV growth and capital returns, while technical indicators remain neutral-to-slightly bearish and cap the upside.
Positive Factors
Debt-free balance sheet
Eliminating the senior secured debt materially reduces interest expense and financial leverage, increasing capital flexibility. Over the next 2–6 months this lowers fixed costs, supports dividends/buybacks and allows management to deploy cash into selective growth or realizations without refinancing risk.
Negative Factors
Sharp fall in underlying NPAT
A more than 50% drop in underlying NPAT reflects weaker core earning power from affiliates and investments. If recurring revenue and distributable earnings don’t recover, profitability pressure could persist, limiting reinvestment, dividend sustainability and growth capital over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Eliminating the senior secured debt materially reduces interest expense and financial leverage, increasing capital flexibility. Over the next 2–6 months this lowers fixed costs, supports dividends/buybacks and allows management to deploy cash into selective growth or realizations without refinancing risk.
Read all positive factors

Pacific Current Group Ltd (PAC) vs. iShares MSCI Australia ETF (EWA)

Pacific Current Group Ltd Business Overview & Revenue Model

Company Description
Pacific Current Group Limited engages in multi-boutique asset management business worldwide. It manages assets for institutional and individual clients. The company was formerly known as Treasury Group Ltd and changed its name to Pacific Current G...
How the Company Makes Money
PAC primarily makes money through its economic interests in affiliated and partner asset managers. Key revenue and value drivers typically include: (1) participation in recurring management fees generated on assets under management (AUM) at its af...

Pacific Current Group Ltd Earnings Call Summary

Earnings Call Date:Feb 23, 2026
(Q2-2026)
|
% Change Since: |
Next Earnings Date:Aug 21, 2026
Earnings Call Sentiment Neutral
The call reflects a mixed but managed outcome: material declines in underlying NPAT and EPS and lower recurring revenues are clear operational negatives, but they have been partially offset by strong capital management — notably a higher fully franked dividend (+33%), substantial NAV growth (+14% YoY), elimination of debt, a strong cash position (AUD ~152m) and a 31% reduction in corporate costs. Management emphasizes continued portfolio simplification, selective growth deployments and shareholder returns (buybacks and dividends). Given the significant operational revenue headwinds balanced against meaningful balance sheet strength and proactive capital actions, the tone is cautiously constructive.
Positive Updates
Interim Dividend Increased and Fully Franked
Declared an interim dividend of AUD 0.20 per share, fully franked — up 33% on the prior corresponding period. Management highlights this as the first fully franked dividend for some time and part of ongoing capital management initiatives to return surplus capital to shareholders.
Negative Updates
Material Decline in Underlying NPAT
Underlying net profit after tax fell to AUD 6.7m from AUD 15.3m in the prior corresponding period — a decline of approximately 56.2%. Management attributed the decline to lower distributions, lower management fee income from boutiques and lower interest income after the off-market buyback.
Read all updates
Q2-2026 Updates
Negative
Interim Dividend Increased and Fully Franked
Declared an interim dividend of AUD 0.20 per share, fully franked — up 33% on the prior corresponding period. Management highlights this as the first fully franked dividend for some time and part of ongoing capital management initiatives to return surplus capital to shareholders.
Read all positive updates
Company Guidance
Management guided that PAC will focus on five priorities—accelerating growth, unlocking shareholder value via targeted capital initiatives, controlling operating costs, strengthening the balance sheet and enhancing organizational efficiency—while noting the balance sheet is now debt‑free (no interest expense expected in H2 FY26) and highlighting key metrics: H1 FY26 underlying NPAT A$6.7m (down from A$15.3m), underlying EPS A$0.22 (A$0.29 prior), interim fully franked dividend A$0.20/share (up 33%; record date 5 Mar 2026), corporate costs down 31%, corporate cash A$152m and corporate net assets A$164m (up from A$144m at 30 Jun), fair value NAV A$16.34/share vs statutory NAV A$13.92 (A$2.42 gap) — fair value NAV up >14% y/y from A$14.32 and from A$15.51 at 30 Jun, five‑year NAV growth A$8.40 → A$16.34 (~14% p.a., >95% total), on‑market buyback up to 2.0m shares (6.8% of issued capital) with ~200k repurchased for ~A$2m to 31 Dec, recent transactions generating USD5.5m from a partial Victory Park sale and USD9.4m from Janus Henderson, growth capital/lending including a US$25m facility to IFP and a A$2m loan to Roc at 10% (maturing 30 Nov 2028), and Petershill deferred consideration on track for settlement in May 2026.

Pacific Current Group Ltd Financial Statement Overview

Summary
Solid underlying fundamentals supported by low leverage and financial stability (strong balance sheet score) and consistently positive operating cash flow. Offsetting this, results show meaningful pressure from a sharp revenue decline and more volatile profitability, which limits the overall financial score.
Income Statement
65
Positive
Balance Sheet
75
Positive
Cash Flow
70
Positive
BreakdownTTMJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue-16.61M128.14M104.72M44.51M43.56M44.54M
Gross Profit-19.98M122.98M101.86M40.66M40.29M41.06M
EBITDA-51.22M113.52M172.13M-5.04M-49.19M24.01M
Net Income-53.86M58.16M110.08M-15.79M-35.27M17.41M
Balance Sheet
Total Assets421.98M523.42M727.88M612.38M608.97M463.02M
Cash, Cash Equivalents and Short-Term Investments152.33M137.89M343.32M23.20M34.89M28.30M
Total Debt0.0062.09M64.01M2.83M1.05M680.00K
Total Liabilities4.94M78.76M128.82M102.15M82.25M60.21M
Stockholders Equity417.04M444.66M599.06M509.52M524.81M402.38M
Cash Flow
Free Cash Flow13.48M20.20M-2.37M19.18M23.19M29.06M
Operating Cash Flow13.48M20.21M20.61M21.82M23.47M29.15M
Investing Cash Flow288.71M206.34M63.47M-55.12M4.76M-5.87M
Financing Cash Flow-345.40M-284.46M-10.46M22.10M-23.18M-14.07M

Pacific Current Group Ltd Technical Analysis

Technical Analysis Sentiment
Positive
Last Price10.39
Price Trends
50DMA
9.85
Positive
100DMA
9.93
Positive
200DMA
10.17
Negative
Market Momentum
MACD
0.08
Negative
RSI
53.52
Neutral
STOCH
37.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PAC, the sentiment is Positive. The current price of 10.39 is above the 20-day moving average (MA) of 9.94, above the 50-day MA of 9.85, and above the 200-day MA of 10.17, indicating a neutral trend. The MACD of 0.08 indicates Negative momentum. The RSI at 53.52 is Neutral, neither overbought nor oversold. The STOCH value of 37.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:PAC.

Pacific Current Group Ltd Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
71
Outperform
AU$1.91B6.1914.31%5.99%-12.42%-36.36%
70
Outperform
AU$314.83M-6.45-12.50%4.17%-82.27%-146.64%
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
61
Neutral
AU$3.51B14.1013.61%3.45%11.69%-15.05%
58
Neutral
AU$3.00B1.9158.96%23.72%215.38%-82.04%
50
Neutral
AU$1.91B9.75-1.00%6.01%2.23%96.71%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:PAC
Pacific Current Group Ltd
10.88
0.16
1.52%
AU:MFG
Magellan Financial Group Ltd
10.34
3.29
46.63%
AU:PPT
Perpetual Limited
16.60
1.15
7.42%
AU:L1G
Platinum Asset Management Ltd
1.18
0.52
77.71%
AU:PNI
Pinnacle Investment Management Group Limited
15.44
-2.15
-12.23%

Pacific Current Group Ltd Corporate Events

Pacific Current Continues On-Market Share Buy-Back Program
May 3, 2026
Pacific Current Group Ltd has disclosed an update to its on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the code PAC. The company reported that a total of 1,232,814 shares had been repurchased prior to ...
Pacific Current’s boutique funds edge lower as currency and markets weigh on FUM
Apr 30, 2026
Pacific Current Group reported that funds under management across its boutique asset managers fell to A$28.2 billion at 31 March 2026 from A$28.8 billion three months earlier. The 2.2% decline in aggregate FUM in Australian dollar terms was largel...
Pacific Current Group cancels shares following on-market buy-back
Apr 29, 2026
Pacific Current Group has cancelled 141,388 ordinary fully paid shares on issue following the execution of an on-market buy-back completed on April 24, 2026. The reduction in issued capital reflects the company’s ongoing capital management s...
Pacific Current advances on-market share buy-back program
Apr 26, 2026
Pacific Current Group has updated the market on its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that a total of 1,222,755 shares had been repurchased prior to the latest trading day, with an ad...
Pacific Current Continues Daily On‑Market Share Buy‑Back Disclosures
Apr 23, 2026
Pacific Current Group Ltd has provided an updated notification to the ASX on its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that as of 24 April 2026 it had repurchased a cumulative 1,216,944 s...
Pacific Current Continues Daily On‑Market Share Buy‑Back
Apr 21, 2026
Pacific Current Group Ltd, an Australian investment management platform listed on the ASX under the ticker PAC, holds and manages interests in asset management businesses and related financial services. Its ordinary fully paid shares are the subje...
Pacific Current issues daily update on on-market share buy-back
Apr 20, 2026
Pacific Current Group Ltd has provided a daily update on its ongoing on-market share buy-back of ordinary fully paid shares on the ASX. The company reported that, as of the prior trading day, a total of 1,206,749 shares had been repurchased under ...
Pacific Current updates daily on-market share buy-back totals
Apr 16, 2026
Pacific Current Group Ltd has provided an update on its on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the code PAC. The company reported that, as at 17 April 2026, it had repurchased a cumulative 1,110...
Pacific Current Updates Market on Progress of Share Buy-Back
Apr 15, 2026
Pacific Current Group Limited has provided an updated notification to the ASX on its ongoing on-market share buy-back program for its ordinary fully paid securities. The update, dated 16 April 2026, confirms that the company repurchased a total of...
Pacific Current Updates Daily On-Market Share Buy-Back Activity
Apr 13, 2026
Pacific Current Group Ltd has provided an updated daily notification on its on-market share buy-back program for its ordinary fully paid shares. The company reported that a cumulative 1,096,742 shares had been repurchased before the previous tradi...
Pacific Current Updates Daily On-Market Share Buy-Back Activity
Apr 12, 2026
Pacific Current Group Ltd has provided an updated notification to the ASX on the progress of its on-market share buy-back program for ordinary fully paid shares under code PAC. The latest filing, dated 13 April 2026, reports that a total of 1,078,...
Pacific Current Issues Daily Update on Ongoing Share Buy-Back
Apr 9, 2026
Pacific Current Group Ltd, the ASX-listed investment manager trading under ticker PAC, continues to manage its capital structure through its ordinary fully paid shares. The company remains active on the Australian market and is identified by Austr...
Pacific Current files daily update on ongoing on‑market share buy‑back
Apr 8, 2026
Pacific Current Group Ltd has provided an updated notification to the ASX on its ongoing on‑market share buy‑back of ordinary fully paid shares under code PAC. The latest filing, dated 9 April 2026, confirms that a total of 1,052,501 s...
Pacific Current Updates Broker Details for Ongoing On-Market Buy-Back
Apr 8, 2026
Pacific Current Group has issued an updated notification regarding its on-market share buy-back of ordinary fully paid shares. The latest announcement amends the broker details associated with the buy-back program, while confirming that the buy-ba...
Pacific Current posts daily update on ongoing on-market share buy-back
Apr 8, 2026
Pacific Current Group Ltd has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares under code PAC. The latest filing confirms the company continues to retire stock, with a total o...
Pacific Current reports daily progress on on-market share buy-back
Apr 1, 2026
Pacific Current Group Ltd has updated the market on its ongoing on-market share buy-back of ordinary fully paid shares, reporting that a total of 1,032,871 securities had been repurchased prior to the latest trading day, with an additional 4,643 s...
Pacific Current Confirms Ron Patel as Chief Financial Officer
Apr 1, 2026
Pacific Current Group Limited has confirmed the permanent appointment of Ron Patel as Chief Financial Officer, effective 1 April 2026, after he served as Acting CFO since 1 December 2025 and provided leadership and continuity. The board highlighte...
Pacific Current Cancels 200,883 Shares Following On‑Market Buy‑Back
Apr 1, 2026
Pacific Current Group has cancelled 200,883 ordinary fully paid shares following an on-market buy-back completed on 27 March 2026. The reduction in issued capital is part of the company’s capital management strategy and is likely to marginal...
Pacific Current Continues Daily On-Market Share Buy-Back
Apr 1, 2026
Pacific Current Group has provided an update on its ongoing on-market share buy-back program for its ordinary fully paid shares listed on the ASX. The company reported that a total of 969,824 shares had been repurchased prior to the latest trading...
Pacific Current Updates Daily On‑Market Share Buy‑Back Activity
Mar 30, 2026
Pacific Current Group has reported the latest figures under its on-market share buy-back program for ordinary fully paid shares. The company disclosed that a total of 652,858 shares had been repurchased prior to the most recent trading day, with a...
Pacific Current Updates Market on Progress of On‑Market Share Buy‑Back
Mar 29, 2026
Pacific Current Group Ltd has provided an updated notification to the ASX regarding its ongoing on‑market share buy‑back of ordinary fully paid shares. The latest filing reports that a total of 650,418 shares had been repurchased befor...
Pacific Current updates daily on-market share buy-back totals
Mar 26, 2026
Pacific Current Group Limited has provided an updated notification to the ASX on its ongoing on-market share buy-back of ordinary fully paid shares under code PAC. The latest filing records a cumulative 635,492 shares repurchased prior to the most...
Pacific Current updates daily figures on ongoing on-market share buy-back
Mar 25, 2026
Pacific Current Group Limited, listed on the ASX under the code PAC, operates in the investment management sector through ownership interests in specialist asset managers. The company’s business model centres on leveraging its capital and ex...
Pacific Current Continues On‑Market Share Buy‑Back Program
Mar 24, 2026
Pacific Current Group has provided an updated notification on its on‑market share buy‑back, confirming that a total of 593,502 ordinary fully paid shares had been repurchased before the previous trading day. The company reported that a...
Pacific Current updates market on progress of on‑market share buy‑back
Mar 23, 2026
Pacific Current Group Limited has provided an update on its on‑market share buy‑back program for its ordinary fully paid shares listed on the ASX under the code PAC. The latest notification, dated 24 March 2026, reports that a total of...
Pacific Current Updates Daily On-Market Share Buy-Back Activity
Mar 22, 2026
Pacific Current Group Ltd has provided an updated notification on its ongoing on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the code PAC. The update, dated 23 March 2026, reports that a total of 578,74...
Pacific Current Reports Ongoing Daily On-Market Share Buy-Back Activity
Mar 19, 2026
Pacific Current Group Ltd has provided an updated notification to the ASX on its ongoing on-market share buy-back program for its ordinary fully paid shares under code PAC. The latest filing, dated 20 March 2026, confirms that this update is part ...
Pacific Current issues daily update on ongoing share buy-back program
Mar 18, 2026
Pacific Current Group Ltd has provided an updated notification to the ASX regarding its ongoing on‑market share buy‑back of ordinary fully paid shares. The company reported that it had bought back a cumulative total of 521,883 shares p...
Pacific Current Cancels 242,809 Shares Under On-Market Buy-Back
Mar 18, 2026
Pacific Current Group Ltd has cancelled 242,809 ordinary fully paid shares as part of an on-market buy-back, effective 13 March 2026. The reduction in issued capital reflects the company’s ongoing capital management strategy, which can enhan...
Pacific Current Continues Daily On‑Market Share Buy‑Back
Mar 17, 2026
Pacific Current Group has continued its on-market share buy-back program for its ordinary fully paid shares, reporting a cumulative 503,315 shares repurchased before the previous trading day. On the most recent prior day, the company bought back a...
Pacific Current updates daily on-market share buy-back totals
Mar 15, 2026
Pacific Current Group Ltd has provided an update on its on-market share buy-back program for its ordinary fully paid shares listed on the ASX under the code PAC. The company reported that it had repurchased 15,154 shares on the previous trading da...
Pacific Current details progress of on-market share buy-back
Mar 9, 2026
Pacific Current Group Ltd has reported an update to its on-market share buy-back program covering ordinary fully paid shares under the ASX code PAC. The latest Appendix 3C filing, dated 10 March 2026, shows that prior to the previous trading day t...
Pacific Current Updates Progress on Ongoing On-Market Share Buy-Back
Mar 8, 2026
Pacific Current Group has been conducting an on-market share buy-back of its ordinary fully paid shares under a program first announced in October 2025. The company, listed on the ASX under the code PAC, continues to report daily progress on this ...
Pacific Current Continues On-Market Share Buy-Back Program
Mar 5, 2026
Pacific Current Group Limited, an ASX-listed investment management firm trading under the code PAC, continues to actively manage its capital structure through an on-market share buy-back of its ordinary fully paid shares. The company’s focus...
Pacific Current Continues On‑Market Share Buy‑Back to Optimise Capital Structure
Mar 4, 2026
Pacific Current Group Ltd, the ASX-listed investment management group trading under the ticker PAC, continues to manage its capital structure through an on‑market share buy‑back of its ordinary fully paid shares. The company, which inv...
Pacific Current Updates Daily On-Market Share Buy-Back Activity
Mar 3, 2026
Pacific Current Group Ltd has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares. The company is reporting the latest daily buy-back activity as part of an established program f...
Pacific Current Continues Daily On-Market Share Buy-Back
Mar 2, 2026
Pacific Current Group has continued its on-market share buy-back of ordinary fully paid shares, reporting that a total of 249,141 securities had been repurchased before the most recent trading day. The company disclosed that a further 50,493 share...
Pacific Current Continues On‑Market Share Buy‑Back With Daily ASX Update
Mar 1, 2026
Pacific Current Group Ltd has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares. The company reported that it had repurchased a cumulative 229,751 shares prior to the latest tr...
Pacific Current Updates Market on Ongoing On-Market Share Buy-Back
Feb 27, 2026
Pacific Current Group Ltd has provided an updated notification to the ASX on its ongoing on-market share buy-back program for its ordinary fully paid shares. The latest daily report shows that the company repurchased 18,046 shares on the previous ...
Pacific Current Updates Daily On-Market Share Buy-Back
Feb 25, 2026
Pacific Current Group Ltd has provided an updated notification on its on-market share buy-back program for its ordinary fully paid shares. The company disclosed that a total of 191,800 shares had been repurchased prior to the latest reporting day,...
Pacific Current Finalises US$25.1m Senior Secured Loan to IFP
Feb 25, 2026
Pacific Current Group has strengthened its position as a capital partner to independent managers by finalising a US$25.1 million senior secured loan facility to IFP Group, LLC. The multi-boutique asset manager already holds an equity stake in IFP,...
Pacific Current flags complexity behind FUM and earnings in H1 FY26 update
Feb 23, 2026
Pacific Current Group has released a first-half FY26 results presentation, outlining its current financial performance and operational position as at 24 February 2026. The company cautions investors that the link between funds under management and...
Pacific Current trims debt and capital base as half-year profit weakens
Feb 23, 2026
Pacific Current Group reported a sharp fall in underlying NPAT to A$6.7m for the half year to 31 December 2025, down 56% amid lower distributions, management fees and interest income, though it achieved a 31% cut in corporate costs. Funds under ma...
Pacific Current Group Declares A$0.20 Interim Dividend
Feb 23, 2026
Pacific Current Group Limited has declared an interim dividend of A$0.20 per ordinary fully paid share for the six-month period ended 31 December 2025, reflecting its ongoing capital return policy to investors. The dividend will trade ex on 4 Marc...
Pacific Current swings to interim loss despite positive underlying earnings
Feb 23, 2026
Pacific Current Group Limited, a Sydney-based multi-boutique asset manager, applies its capital and institutional distribution network to help a global roster of eight boutique investment firms grow. The company targets value creation for sharehol...
Pacific Current extends US$25.1m secured growth facility to portfolio firm IFP
Feb 22, 2026
Pacific Current Group Limited has agreed to provide a US$25.1 million senior secured loan facility to IFP Group, LLC, an existing portfolio company, as part of its multi-boutique asset management strategy. The facility, which carries a base intere...
Pacific Current schedules 2026 half-year results investor call
Feb 20, 2026
Pacific Current Group has announced it will host a conference call to discuss its 2026 half-year results at 10:00am AEDT on 24 February 2026, led by Managing Director Michael Clarke and Acting CFO Ron Patel. The results briefing, accessible via we...
Pacific Current Sets Out 2026 Financial and Governance Calendar
Feb 20, 2026
Pacific Current Group has outlined its key corporate dates for calendar year 2026, detailing the timetable for half-year and full-year financial results, interim and final dividend events, and quarterly funds under management disclosures. The sche...
Pacific Current to Release 58,407 Escrowed Shares to Market
Feb 5, 2026
Pacific Current Group Limited has notified the market that 58,407 ordinary shares will be released from voluntary escrow on 16 February 2026, in line with ASX Listing Rule 3.10A. The small escrow release modestly increases the freely tradable shar...
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.Date of analysis: Feb 24, 2026