Pinnacle Investment Management Group Limited (PNI) AI Stock Analysis

• Market Cap: AU$3.76B
• Dividend Yield: 3.45%
• Average Volume (3M): 789.60K
• Price to Earnings (P/E): 27.5
• Beta (1Y): 2.35
• Revenue Growth: 37.42%
• EPS Growth: 38.37%
• Country: AU
• Employees: 118
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.26
• Shares Outstanding: 228,398,210
• 10 Day Avg. Volume: 821,375
• 30 Day Avg. Volume: 789,603
• PEG Ratio: 0.81
• Price to Book (P/B): 4.76
• Price to Sales (P/S): 57.58
• P/FCF Ratio: 35.22
• 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$25.33
• Price Target Upside: 45.66% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: AU$19.00 ▲(9.26% Upside)

Pinnacle Investment Management Group Limited's overall stock score is primarily driven by its strong financial performance, characterized by impressive revenue growth and high profitability margins. However, bearish technical indicators and a relatively high P/E ratio suggest caution. The stock's valuation is somewhat mitigated by a decent dividend yield, but the lack of positive market momentum and expensive valuation weigh on the overall score.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust market performance and effective business strategies, enhancing long-term financial stability and shareholder value.

Profitability Margins

High profitability margins demonstrate effective cost control and pricing power, contributing to sustained financial health and competitive advantage.

Balance Sheet Health

A low debt-to-equity ratio enhances financial stability, providing flexibility for future investments and shielding against economic downturns.

Negative Factors

Free Cash Flow Decline

A decline in free cash flow growth may impact liquidity, limiting the company's ability to reinvest in growth opportunities and meet financial obligations.

Net Profit Margin Anomalies

An unusually high net profit margin could indicate non-recurring items, potentially distorting the true profitability and future earnings predictability.

Free Cash Flow to Net Income Ratio

While conversion of net income into free cash flow is generally positive, the lack of growth in free cash flow may hinder future expansion and financial flexibility.

Pinnacle Investment Management Group Limited Business Overview & Revenue Model

Company Description

Pinnacle Investment Management Group Limited operates as an investment management company in Australia. The company offers third party distribution, and fund infrastructure and support services to its affiliates and various investment managers. It also operates as a corporate trustee and responsible entity for retail and wholesale investment trusts. The company was formerly known as Wilson Group Limited and changed its name to Pinnacle Investment Management Group Limited in August 2016. Pinnacle Investment Management Group Limited was founded in 1895 and is based in Sydney, Australia with additional offices in Brisbane, Australia, Melbourne, Australia, and London, United Kingdom.

How the Company Makes Money

Pinnacle Investment Management Group Limited generates revenue primarily through management fees and performance fees from the funds managed by its boutique investment managers. The management fees are typically a percentage of the assets under management (AUM), which provides a steady income stream as long as the AUM remains stable or grows. Performance fees are earned when the investment returns exceed a predefined benchmark, incentivizing the managers to achieve superior performance. Additionally, PNI benefits from partnerships with its investment boutiques, allowing for shared resources and expertise while expanding its reach in the market. The company may also earn revenue from advisory services and other financial products offered to clients, thereby diversifying its income sources.

Pinnacle Investment Management Group Limited Financial Statement Overview

Summary

Pinnacle Investment Management Group Limited demonstrates strong financial health with significant revenue growth and high profitability margins. The balance sheet is robust with low leverage, enhancing financial stability. However, the decline in free cash flow growth poses a potential risk to liquidity, which should be monitored closely.

Income Statement

Pinnacle Investment Management Group Limited has shown impressive revenue growth with a 43.28% increase in the latest year, indicating strong market performance. The gross profit margin is exceptionally high at 90.35%, reflecting efficient cost management. However, the net profit margin is unusually high at 177.19%, which may suggest one-time gains or accounting adjustments. EBIT and EBITDA margins are also robust, showcasing operational efficiency.

Balance Sheet

The company maintains a healthy balance sheet with a low debt-to-equity ratio of 0.12, indicating low leverage and financial stability. The return on equity is solid at 14.64%, suggesting effective use of shareholder funds. The equity ratio stands at 86.56%, highlighting a strong equity base relative to total assets.

Cash Flow

Cash flow analysis reveals a concerning decline in free cash flow growth at -211.34%, which could impact future liquidity. However, the operating cash flow to net income ratio is strong, indicating good cash generation relative to net income. The free cash flow to net income ratio is nearly 1, suggesting that most of the net income is converted into free cash flow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	68.65M	75.86M	47.56M	54.21M	42.12M	32.42M
Gross Profit	5.42M	68.54M	6.78M	52.65M	39.80M	30.04M
EBITDA	14.16M	146.79M	8.35M	16.74M	7.23M	3.69M
Net Income	134.43M	134.43M	90.35M	76.47M	76.36M	67.02M
Balance Sheet
Total Assets	1.06B	1.06B	582.99M	552.64M	536.76M	366.20M
Cash, Cash Equivalents and Short-Term Investments	26.56M	26.56M	184.82M	27.62M	38.27M	96.14M
Total Debt	110.36M	110.36M	109.43M	120.49M	121.66M	102.93M
Total Liabilities	142.55M	142.55M	127.10M	130.06M	134.57M	122.31M
Stockholders Equity	918.42M	918.42M	455.89M	422.57M	402.18M	243.89M
Cash Flow
Free Cash Flow	124.01M	124.01M	76.67M	58.78M	69.76M	53.36M
Operating Cash Flow	124.34M	124.34M	76.70M	58.79M	71.77M	53.41M
Investing Cash Flow	-444.38M	-444.38M	20.16M	-6.71M	-222.42M	-26.24M
Financing Cash Flow	314.04M	314.04M	-91.92M	-62.73M	92.78M	52.89M

Pinnacle Investment Management Group Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 17.39
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PNI, the sentiment is Neutral. The current price of 17.39 is above the 20-day moving average (MA) of 16.91, above the 50-day MA of 17.37, and below the 200-day MA of 18.98, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 54.34 is Neutral, neither overbought nor oversold. The STOCH value of 64.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:PNI.

Pinnacle Investment Management Group Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GQG	81 Outperform	AU$5.36B	7.51	116.22%	10.91%	25.96%	32.30%
MFG	71 Outperform	€1.51B	9.75	16.50%	5.99%	-13.22%	-29.69%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
PNI	61 Neutral	AU$3.76B	27.51	19.56%	3.45%	37.42%	38.37%
IFL	51 Neutral	AU$3.10B	192.12	0.72%	―	-15.63%	―
PPT	50 Neutral	AU$2.19B	-36.67	-3.34%	6.01%	2.87%	87.93%
AMP	44 Neutral	$4.50B	24.86	4.59%	1.65%	-14.92%	179.69%

Pinnacle Investment Management Group Limited Corporate Events

Pinnacle Seeks ASX Quotation for 35,000 New Shares Issued Under Employee Scheme

Pinnacle Investment Management Group Limited has applied to the ASX for quotation of 35,000 new ordinary fully paid shares issued on 29 December 2025 under an employee incentive scheme. The modest size of the issuance suggests a routine capital management and staff remuneration measure, marginally increasing the company’s listed share capital while reinforcing its strategy of retaining and incentivising key personnel through equity participation.

The most recent analyst rating on (AU:PNI) stock is a Buy with a A$22.60 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management Seeks ASX Quotation for 914,000 New Shares Under Employee Scheme

Pinnacle Investment Management Group Limited has applied for quotation on the ASX of 914,000 new ordinary fully paid shares issued under an employee incentive scheme. The additional securities, to be quoted from 24 December 2025, expand the company’s listed share base and reflect ongoing use of equity-based remuneration to incentivise and retain staff, a common practice in the financial services sector that can modestly dilute existing shareholders while aligning employee interests with long-term shareholder value.

The most recent analyst rating on (AU:PNI) stock is a Buy with a A$22.60 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Cancels 250,000 Shares Under Employee Scheme Buy-Back

Pinnacle Investment Management Group Limited has announced the cessation of 250,000 ordinary fully paid shares following a buy-back conducted under its employee share scheme. The cancellation marginally reduces the company’s issued capital and reflects ongoing capital management and equity incentive administration, with limited direct operational impact but incremental implications for existing shareholders’ relative ownership.

The most recent analyst rating on (AU:PNI) stock is a Buy with a A$22.60 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Announces Employee Share Scheme Buy-Back of 250,000 Shares

Pinnacle Investment Management Group Limited has notified the ASX that it will conduct an employee share scheme buy-back of up to 250,000 ordinary fully paid shares out of a total of 227.7 million shares on issue. The targeted off-market buy-back is relatively small in scale and is aimed at managing shares issued under employee equity plans, which can help optimise Pinnacle’s capital structure, manage dilution from staff incentives, and support the orderly administration of its employee share schemes without materially affecting its overall share capital base.

The most recent analyst rating on (AU:PNI) stock is a Buy with a A$22.60 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle to Buy Back 250,000 Shares Under Employee Scheme

Pinnacle Investment Management Group Limited has notified the ASX that it will conduct an employee share scheme buy-back of up to 250,000 ordinary fully paid shares out of a total 227.7 million shares on issue. The move is aimed at managing shares issued under its employee share schemes and will have only a modest impact on the company’s overall capital base, while signalling continued active management of its equity structure and employee incentive arrangements.

The most recent analyst rating on (AU:PNI) stock is a Buy with a A$22.60 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management Announces Director’s Share Acquisition

Pinnacle Investment Management Group Limited has announced a change in the director’s interest, specifically involving Christa Lenard. The change involves an acquisition of 2,409 ordinary shares through an on-market trade, increasing the total number of shares held to 5,827. This transaction reflects a strategic adjustment in the director’s investment portfolio, potentially impacting the company’s governance and stakeholder interests.

The most recent analyst rating on (AU:PNI) stock is a Buy with a A$22.60 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Updates Personal Trading Policy

Pinnacle Investment Management Group Limited has announced an update to its Personal Trading Policy in compliance with ASX Listing Rule 12.10. This update reflects the company’s commitment to maintaining transparency and integrity in its trading practices, potentially impacting its operational protocols and reinforcing its industry positioning.

The most recent analyst rating on (AU:PNI) stock is a Hold with a A$23.00 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management Issues New Securities Under Employee Scheme

Pinnacle Investment Management Group Limited announced the issuance of 50,000 fully paid ordinary securities, which will be quoted on the ASX. This move, part of an employee incentive scheme, signifies the company’s ongoing efforts to engage and reward its workforce, potentially strengthening its market position and aligning employee interests with shareholder value.

The most recent analyst rating on (AU:PNI) stock is a Buy with a A$26.55 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management Announces Director’s Interest Change

Pinnacle Investment Management Group Limited announced a change in the director’s interest, with Christa Lenard acquiring 968 performance rights in lieu of a portion of director fees under the Omnibus Incentive Plan. This change reflects the company’s ongoing efforts to align director compensation with performance, potentially impacting its governance and stakeholder relations.

The most recent analyst rating on (AU:PNI) stock is a Hold with a A$19.00 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management Issues Performance Rights

Pinnacle Investment Management Group Limited announced the issuance of 968 performance rights as part of an employee incentive scheme. These unquoted securities are not intended to be listed on the ASX, reflecting the company’s strategy to motivate and retain key personnel, potentially impacting its operational efficiency and market competitiveness.

The most recent analyst rating on (AU:PNI) stock is a Hold with a A$19.00 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management Director Increases Shareholding

Pinnacle Investment Management Group Limited announced a change in the director’s interest, with Andrew Chambers acquiring an additional 100,000 ordinary shares, increasing his total holdings to 4,453,614 shares. This acquisition, valued at approximately $1.83 million, was executed through the company’s Omnibus Incentive Plan, reflecting a strategic move to align the director’s interests with the company’s growth and performance objectives.

The most recent analyst rating on (AU:PNI) stock is a Hold with a A$19.00 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management Issues New Securities Under Employee Incentive Scheme

Pinnacle Investment Management Group Limited has announced the issuance of 100,000 ordinary fully paid securities, which will be quoted on the Australian Securities Exchange (ASX). This move is part of an employee incentive scheme, reflecting the company’s strategy to motivate and retain talent. The issuance of these securities is expected to enhance Pinnacle’s market position by aligning employee interests with shareholder value, potentially impacting the company’s operational dynamics and stakeholder relationships.

The most recent analyst rating on (AU:PNI) stock is a Hold with a A$19.00 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management Reports Successful AGM Outcomes

Pinnacle Investment Management Group Limited held its 2025 Annual General Meeting, where all resolutions proposed were successfully carried. Key resolutions included the approval of the remuneration report, re-election of board members, and the issuance of shares under the Omnibus Incentive Plan, indicating strong shareholder support and strategic alignment with the company’s growth objectives.

The most recent analyst rating on (AU:PNI) stock is a Buy with a A$26.40 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management Reports Strong Growth and Strategic Developments at 2025 AGM

Pinnacle Investment Management Group Limited’s Managing Director addressed the company’s 2025 Annual General Meeting, highlighting key financial outcomes and strategic developments. The company reported strong growth in core earnings and profitability, driven by its strategy of business diversity and robust platform. The introduction of new Affiliates, like Advantage Partners, and the success of existing ones, such as Hyperion, contributed to record net inflows and performance fees. The company remains confident in its growth agenda, emphasizing corporate sustainability and the work of the PNI Foundation.

The most recent analyst rating on (AU:PNI) stock is a Buy with a A$26.40 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management Unveils Growth and Sustainability Plans Ahead of AGM

Pinnacle Investment Management Group Limited provided a market update ahead of its 2025 Annual General Meeting, highlighting its financial results for FY25 and the latest updates for Q1 FY26. The announcement included the introduction of a new affiliate, Advantage Partners, as part of its growth agenda, emphasizing the company’s commitment to corporate sustainability and its strategic positioning for future expansion.

The most recent analyst rating on (AU:PNI) stock is a Buy with a A$26.40 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Issues Unquoted Equity Securities for Employee Incentives

Pinnacle Investment Management Group Limited announced the issuance of 80,000 unquoted equity securities under an employee incentive scheme, which are not intended to be quoted on the ASX. This move is part of the company’s ongoing efforts to incentivize employees and align their interests with the company’s growth objectives.

The most recent analyst rating on (AU:PNI) stock is a Hold with a A$19.80 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.

Pinnacle Investment Management Appoints New Company Secretary

Pinnacle Investment Management Group Limited announced the resignation of Mr. Calvin Kwok as Company Secretary, with Mr. Terence Kwong appointed as his successor. Terence, who joined the company in 2017, brings extensive experience in financial services and legal expertise, positioning the company to maintain strong regulatory communications and operational continuity.

The most recent analyst rating on (AU:PNI) stock is a Hold with a A$19.80 price target. To see the full list of analyst forecasts on Pinnacle Investment Management Group Limited stock, see the AU:PNI Stock Forecast page.