Pinnacle Investment Management Group Limited (AU:PNI)
ASX:PNI
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Pinnacle Investment Management Group Limited
(Sydney:PNI)
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Select Model
Rating:61Neutral
Price Target:
AU$14.50
â–²(2.11% Upside)
Action:ReiteratedDate:11/07/25
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
Affiliate-based recurring revenue model
PNI’s multi-affiliate model creates durable, fee-linked economics: it captures management and performance fee shares from independent affiliates and supports them with seed capital, distribution and infrastructure. This aligns incentives, diversifies revenue across strategies and scales with affiliates’ FUM growth over time.
Negative Factors
Free cash flow deterioration
A >200% decline in free cash flow growth is a material structural concern for an affiliate-investment model that relies on cash to seed affiliates, pay distributions and support business infrastructure. Even with strong operating cash to net income, weak FCF may constrain reinvestment and capital flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Affiliate-based recurring revenue model
PNI’s multi-affiliate model creates durable, fee-linked economics: it captures management and performance fee shares from independent affiliates and supports them with seed capital, distribution and infrastructure. This aligns incentives, diversifies revenue across strategies and scales with affiliates’ FUM growth over time.
Read all positive factors
Pinnacle Investment Management Group Limited (PNI) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$3.08B
Dividend Yield3.45%
Average Volume (3M)789.60K
Price to Earnings (P/E)14.1
Beta (1Y)2.16
Revenue Growth37.42%
EPS Growth38.37%
CountryAU
Employees118
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.30
Shares Outstanding228,830,720
10 Day Avg. Volume821,375
30 Day Avg. Volume789,603
Financial Highlights & Ratios
PEG Ratio0.81
Price to Book (P/B)4.76
Price to Sales (P/S)57.58
P/FCF Ratio35.22
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$23.24Price Target Upside63.66% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)0.69
Revenue Forecast (FY)AU$87.02M
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...
How the Company Makes Money
PNI makes money primarily by earning a share of the economics generated by its affiliate investment managers. The core revenue stream is management fee-related income that is ultimately linked to affiliates’ funds under management (FUM): affiliate...
Pinnacle Investment Management Group Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 81.48M | 75.86M | 47.56M | 54.21M | 42.12M | 32.42M |
| Gross Profit | 34.63M | 68.54M | 6.78M | 52.65M | 39.80M | 30.04M |
| EBITDA | 19.10M | 146.79M | 8.35M | 16.74M | 7.23M | 3.69M |
| Net Income | 126.06M | 134.43M | 90.35M | 76.47M | 76.36M | 67.02M |
Balance Sheet | ||||||
| Total Assets | 1.07B | 1.06B | 582.99M | 552.64M | 536.76M | 366.20M |
| Cash, Cash Equivalents and Short-Term Investments | 55.41M | 26.56M | 184.82M | 27.62M | 38.27M | 96.14M |
| Total Debt | 119.73M | 110.36M | 109.43M | 120.49M | 121.66M | 102.93M |
| Total Liabilities | 133.68M | 142.55M | 127.10M | 130.06M | 134.57M | 122.31M |
| Stockholders Equity | 933.86M | 918.42M | 455.89M | 422.57M | 402.18M | 243.89M |
Cash Flow | ||||||
| Free Cash Flow | 360.34M | 124.01M | 76.67M | 58.78M | 69.76M | 53.36M |
| Operating Cash Flow | 360.72M | 124.34M | 76.70M | 58.79M | 71.77M | 53.41M |
| Investing Cash Flow | -262.44M | -444.38M | 20.16M | -6.71M | -222.42M | -26.24M |
| Financing Cash Flow | -133.28M | 314.04M | -91.92M | -62.73M | 92.78M | 52.89M |
Pinnacle Investment Management Group Limited Technical Analysis
Negative
14.20
Price Trends
15.52
Negative
16.17
Negative
17.99
Negative
Market Momentum
-0.40
Negative
44.70
Neutral
74.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:PNI, the sentiment is Negative. The current price of 14.2 is above the 20-day moving average (MA) of 14.07, below the 50-day MA of 15.52, and below the 200-day MA of 17.99, indicating a bearish trend. The MACD of -0.40 indicates Negative momentum. The RSI at 44.70 is Neutral, neither overbought nor oversold. The STOCH value of 74.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:PNI.
Pinnacle Investment Management Group Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
86 Outperform | AU$5.25B | 7.38 | 116.22% | 10.91% | 25.96% | 32.30% | |
71 Outperform | AU$1.77B | 6.19 | 14.31% | 5.99% | -13.22% | -29.69% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | AU$3.08B | 14.10 | 13.61% | 3.45% | 37.42% | 38.37% | |
53 Neutral | AU$3.18B | 9.67 | 0.72% | ― | -15.63% | ― | |
50 Neutral | AU$1.85B | 9.75 | -1.00% | 6.01% | 2.87% | 87.93% | |
44 Neutral | AU$3.20B | 32.88 | 3.56% | 1.65% | -14.92% | 179.69% |
* Financial Sector Average
AU:PNI
Pinnacle Investment Management Group Limited
14.20
-0.54
-3.67%
AU:AMP
AMP
1.27
0.17
16.06%
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Insignia Financial Ltd
4.75
0.99
26.33%
AU:MFG
Magellan Financial Group Ltd
9.57
3.19
49.93%
AU:PPT
Perpetual Limited
16.08
0.49
3.17%
AU:GQG
GQG Partners, Inc. Shs Chess Depository Interests Repr 1 Sh
1.78
0.04
2.07%
Pinnacle Investment Management Group Limited Corporate Events
Pinnacle Expands CBA Debt Facility to $250m to Support Growth
Apr 7, 2026
Pinnacle Investment Management Group Limited has secured an extension and significant upsizing of its debt facility with Commonwealth Bank of Australia, lifting the limit from $100 million to $250 million while maintaining existing pricing terms. ...
Pinnacle Director Ian Macoun Increases Stake via Dividend Reinvestment
Mar 20, 2026
Pinnacle Investment Management Group Limited has disclosed a change in the interests of director Ian Macoun, reflecting a modest increase in his shareholding. The update reinforces transparency around board members’ equity positions, which i...
Pinnacle lists new shares from dividend plan on ASX
Mar 20, 2026
Pinnacle Investment Management Group Limited has applied for quotation on the ASX of 192,499 new ordinary fully paid shares, issued on March 20, 2026. The securities have been issued under a dividend or distribution plan, modestly increasing Pinna...
Pinnacle Seeks ASX Quotation for New Employee Incentive Shares
Mar 19, 2026
Pinnacle Investment Management Group Limited has applied for quotation of 15,000 new fully paid ordinary shares on the ASX, issued on 19 March 2026 under an employee incentive scheme. The relatively small share issue supports the company’s o...
Pinnacle Updates Currency Details on Interim Dividend for December Half
Mar 17, 2026
Pinnacle Investment Management Group Limited, the ASX-listed asset manager trading under ticker PNI, focuses on delivering diversified investment solutions via a stable of specialist affiliate managers. It generates revenue primarily from funds ma...
Pinnacle Updates Dividend Details and Confirms DRP Pricing
Mar 16, 2026
Pinnacle Investment Management Group Limited has updated its earlier dividend notification for ordinary fully paid shares, specifying the dividend reinvestment plan price for the interim distribution relating to the six months ended 31 December 20...
Pinnacle Investment Management to Exit S&P/ASX 100 in March Rebalance
Mar 6, 2026
Pinnacle Investment Management Group Limited, a multi-affiliate investment manager supporting specialist fund managers across asset classes, plays a notable role in Australia’s funds management industry by distributing and servicing investme...
Pinnacle Issues 80,000 Unquoted Options Under Employee Incentive Scheme
Mar 6, 2026
Pinnacle Investment Management Group Limited has notified the market of the issue of 80,000 unquoted options under its employee incentive scheme. The options, which expire on various dates and at various prices, are not intended to be quoted on th...
Pinnacle Applies to Quote New Shares Issued Under Employee Incentive Scheme
Mar 5, 2026
Pinnacle Investment Management Group Limited has applied for quotation on the ASX of 225,000 new ordinary fully paid shares, issued on 5 March 2026 under an employee incentive scheme. The additional securities, which are not subject to transfer re...
Pinnacle Investment Management Plans Issue of Over 10.5 Million New Shares
Feb 3, 2026
Pinnacle Investment Management Group Limited has notified the ASX of a proposed issue of up to 10,546,794 new fully paid ordinary shares. The securities are to be issued via a placement or other form of capital raising, with a proposed issue date ...
Pinnacle Investment Management Declares Interim Dividend of 29 Cents per Share
Feb 3, 2026
Pinnacle Investment Management Group Limited has declared an interim dividend of AUD 0.29 per fully paid ordinary share for the six-month period ended 31 December 2025. The dividend will trade ex-dividend on 2 March 2026, with a record date of 3 M...
Pinnacle posts record inflows and higher core earnings as performance fees ease and expansion continues
Feb 3, 2026
Pinnacle Investment Management reported a mixed interim result for the six months to 31 December 2025, with NPAT attributable to shareholders down 11% to $67.3 million and diluted EPS down 18%, largely reflecting a sharp reduction in performance f...
Pinnacle Releases Interim Report for Half Year to 31 December 2025
Feb 3, 2026
Pinnacle Investment Management Group Limited, an Australian-based asset management group, has released its interim report for the half year ended 31 December 2025, covering directors’ commentary, financial statements, a directors’ decl...
Pinnacle lifts revenue and interim dividend despite profit and EPS decline
Feb 3, 2026
Pinnacle Investment Management Group reported a 66.6% jump in revenue from ordinary continuing activities to A$46.1 million for the half year ended 31 December 2025, but net profit attributable to shareholders fell 11.1% to A$67.3 million, with st...
Pinnacle Investment Management Sets Teleconference to Present Half-Year FY2026 Results
Jan 27, 2026
Pinnacle Investment Management Group Limited has scheduled a teleconference for investors and analysts on 4 February 2026 to present and discuss its half-year FY2026 financial results. Senior executives, including the chair, managing director, hea...
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.