VGI Partners Ltd. (AU:RPL)
ASX:RPL
Want to see AU:RPL full AI Analyst Report?
Top Page
VGI Partners Ltd.
(Sydney:RPL)
Select Model
Select Model
Rating:79Outperform
Price Target:
AU$3.00
▲(16.28% Upside)
Action:UpgradedDate:02/27/26
The score is driven primarily by strong financial performance (robust 2025 profitability, low leverage, and solid cash conversion) and supportive valuation (low P/E with a high dividend yield). Offsetting these positives, technical signals are neutral-to-soft with limited momentum.
Positive Factors
Revenue and margin expansion
A large 2025 revenue increase and material margin expansion indicate the business can scale fee income with operating leverage. Sustained higher margins improve cash flow and reinvestment capacity, strengthening the firm's ability to fund distribution and preserve profitability over the medium term.
Negative Factors
Earnings cyclicality
Material swings in revenue and profitability driven by market cycles make forecasting and planning difficult. Cyclical earnings can compress recurring management fees and eliminate performance fees during downturns, weakening cash generation and strategic continuity in adverse markets.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and margin expansion
A large 2025 revenue increase and material margin expansion indicate the business can scale fee income with operating leverage. Sustained higher margins improve cash flow and reinvestment capacity, strengthening the firm's ability to fund distribution and preserve profitability over the medium term.
Read all positive factors
VGI Partners Ltd. (RPL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$952.45M
Dividend Yield4.92%
Average Volume (3M)2.34M
Price to Earnings (P/E)3.2
Beta (1Y)2.25
Revenue Growth45.75%
EPS Growth40.60%
CountryAU
Employees190
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.33
Shares Outstanding367,740,700
10 Day Avg. Volume1,924,789
30 Day Avg. Volume2,343,134
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)1.20
Price to Sales (P/S)3.06
P/FCF Ratio15.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$4.20Price Target Upside62.79% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.32
Revenue Forecast (FY)AU$425.15M
VGI Partners Ltd. Business Overview & Revenue Model
Company Description
Regal Partners Limited is a privately owned hedge fund sponsor. The firm invests in the public equity and hedging markets across the globe with a focus on Australia. It employs market neutral and absolute return strategies to make its investments....
How the Company Makes Money
VGI Partners makes money primarily by charging investment management fees on the assets it manages (funds under management). Its key revenue stream is recurring management fees, typically calculated as a percentage of average funds under managemen...
VGI Partners Ltd. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
84
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 369.03M | 253.20M | 104.45M | 84.18M | 150.01M |
| Gross Profit | 325.66M | 223.17M | 40.26M | 74.88M | 98.76M |
| EBITDA | 203.82M | 119.83M | 25.64M | 25.02M | 87.74M |
| Net Income | 130.55M | 66.24M | 1.60M | 11.62M | 42.71M |
Balance Sheet | |||||
| Total Assets | 1.11B | 949.22M | 689.25M | 486.62M | 168.36M |
| Cash, Cash Equivalents and Short-Term Investments | 180.23M | 95.22M | 211.72M | 213.46M | 51.73M |
| Total Debt | 65.13M | 7.95M | 46.05M | 4.51M | 5.92M |
| Total Liabilities | 164.10M | 95.21M | 110.48M | 50.68M | 89.58M |
| Stockholders Equity | 943.97M | 850.42M | 575.57M | 432.13M | 134.56M |
Cash Flow | |||||
| Free Cash Flow | 71.11M | 51.44M | 15.39M | 28.64M | 45.78M |
| Operating Cash Flow | 72.34M | 52.27M | 16.12M | 31.49M | 46.01M |
| Investing Cash Flow | 2.85M | 72.14M | -49.55M | -53.86M | 1.62M |
| Financing Cash Flow | -66.20M | -90.77M | 10.63M | 45.55M | -38.99M |
VGI Partners Ltd. Technical Analysis
Neutral
2.58
Price Trends
2.75
Negative
2.88
Negative
2.81
Negative
Market Momentum
-0.03
Negative
49.62
Neutral
58.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:RPL, the sentiment is Neutral. The current price of 2.58 is above the 20-day moving average (MA) of 2.55, below the 50-day MA of 2.75, and below the 200-day MA of 2.81, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 49.62 is Neutral, neither overbought nor oversold. The STOCH value of 58.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:RPL.
VGI Partners Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | AU$952.45M | 3.19 | 14.51% | 4.92% | 45.75% | 40.60% | |
72 Outperform | AU$285.06M | 9.55 | 32.32% | 4.00% | 8.56% | 17.62% | |
69 Neutral | AU$494.59M | 7.80 | 9.94% | 4.63% | 6.53% | 130.53% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | AU$480.36M | 10.53 | 55.44% | 2.70% | 14.08% | 61.35% | |
46 Neutral | AU$1.29B | 173.62 | 2.39% | 1.85% | 47.98% | -75.76% |
* Financial Sector Average
AU:RPL
VGI Partners Ltd.
2.59
0.45
20.80%
AU:AEF
Australian Ethical Investment Ltd
4.22
-1.48
-26.00%
AU:MAF
MA Financial Group Limited
6.90
0.43
6.68%
AU:FID
Fiducian Group Ltd
9.03
-0.12
-1.31%
AU:EQT
EQT Holdings Ltd.
18.46
-11.79
-38.98%
VGI Partners Ltd. Corporate Events
Regal Partners to Present at Macquarie Australia Conference
May 5, 2026
Regal Partners Limited has announced that it will participate in the upcoming Macquarie Australia Conference, highlighting its ongoing engagement with the broader investment community. The company has prepared a dedicated presentation for the even...
Regal Partners Director Peter Yates Lifts Indirect Shareholding
May 4, 2026
Regal Partners director Peter Yates has increased his indirect stake in the company through a series of on-market share purchases executed between 27 April and 1 May 2026. The transactions, conducted via custodial structures linked to his family t...
Regal Partners Director Sarah Dulhunty Increases Indirect Shareholding
Apr 27, 2026
Regal Partners Limited has disclosed a change in director Sarah Dulhunty’s relevant interests in the company’s securities, following an on-market purchase. Through her controlled entities Northland No 2 Pty Ltd and Votraint No 1106 Pty...
Regal Partners Sets Details for Hybrid 2026 Annual General Meeting
Apr 24, 2026
Regal Partners Limited has invited shareholders to its 2026 annual general meeting, to be held at 1:00pm AEST on 28 May 2026 in Sydney, with the Notice of Meeting, Explanatory Memorandum, proxy form and an online/teleconference AGM guide available...
Regal Partners Appoints Peter Yates to Board With No Initial Shareholding
Apr 22, 2026
Regal Partners Limited has appointed Peter Yates as a director effective 13 April 2026, according to an initial director’s interest notice lodged with the ASX. The filing confirms that Yates holds no relevant interests in Regal Partners secu...
Regal Partners Confirms Lapse of 383,598 Conditional Rights
Apr 20, 2026
Regal Partners Limited has notified the market of the cessation of 383,598 rights under the ASX security code RPLAC. The conditional rights lapsed on 13 April 2026 because the specified conditions were not met or became incapable of being satisfie...
Regal Partners Names Peter Yates AM as Chair-Elect to Lead Next Growth Phase
Apr 12, 2026
Regal Partners Limited has appointed veteran financial services executive Peter Yates AM as an independent non-executive director and chair-elect, effective immediately, ahead of his expected confirmation at the company’s annual general meet...
Regal Partners Issues 7.2 Million Unquoted Rights Under Employee Incentive Scheme
Apr 10, 2026
Regal Partners Limited has notified the market of the issue of 7,190,011 unquoted rights securities under its employee incentive scheme, recorded under the ASX security code RPLAC. These rights, which are subject to transfer restrictions and will ...
Regal Partners Sets 2026 AGM Date and Opens Director Nominations
Mar 30, 2026
Regal Partners Limited has scheduled its 2026 Annual General Meeting for 28 May 2026, with the election of directors to be included as a key item of business. The company has set 9 April 2026 as the deadline for receiving director nominations, whi...
Regal Partners Confirms Lapse of 208,329 Conditional Rights
Mar 27, 2026
Regal Partners Limited has notified the market of the lapse of 208,329 rights (RPLAC) after the conditions attached to those conditional rights were not satisfied or became incapable of being met, with cessation dated 27 February 2026. The termina...
Regal Partners Cancels 1.84 Million Shares After On-Market Buyback
Mar 26, 2026
Regal Partners Limited has cancelled 1,840,593 ordinary fully paid shares following completion of an on-market share buyback executed on 10 March 2026. The reduction in issued capital signals ongoing capital management by the company and may enhan...
Regal Partners Issues Unquoted Contingent Preference Shares Under Distribution Plan
Mar 25, 2026
Regal Partners Limited has notified the market of the issue of 1,200,959 unquoted contingent converting redeemable preference shares under a dividend or distribution plan. The new securities, which are not intended to be quoted on the ASX, were is...
Regal Partners Director Increases Indirect Shareholding
Mar 23, 2026
Regal Partners has disclosed a change in director Jaye Louise Gardner’s indirect interest in the company’s shares. Through Homner Pty Ltd as trustee for the Willmax Super Fund, where Gardner is a beneficiary, her holding increased via ...
Regal Partners Seeks ASX Quotation for New Dividend Plan Shares
Mar 23, 2026
Regal Partners Limited has applied to the ASX for quotation of 181,565 new ordinary fully paid shares, issued on 25 March 2026 under a dividend or distribution plan. The additional stock will modestly increase the company’s free float and sh...
Regal Partners Updates Market on Daily On-Market Share Buy-Back
Mar 17, 2026
Regal Partners Limited 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 1,830,593 shares had been repurchased prior to the latest trading day, with a fu...
Regal Partners Updates Market on Progress of On-Market Share Buy-Back
Mar 16, 2026
Regal Partners Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares. The update, dated 17 March 2026, reports the latest daily repurchase activity as part of a previou...
Regal Partners Updates Market on Progress of On‑Market Share Buy‑Back
Mar 15, 2026
Regal Partners Limited has provided an updated notification to the ASX regarding its ongoing on‑market share buy‑back program for its ordinary fully paid shares. The update, dated 16 March 2026, outlines the latest daily activity, conf...
Regal Partners Issues Daily Update on Ongoing Share Buy-Back
Mar 12, 2026
Regal Partners Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The company reported that it had bought back a cumulative total of 762,830 shares pri...
Regal Partners Confirms DRP Price and Aligns PM Capital Shares in Dividend
Mar 11, 2026
Regal Partners has updated its dividend notification for ordinary fully paid shares, confirming the price under its dividend reinvestment plan for the six-month period to 31 December 2025. The update clarifies that converting redeemable preference...
Regal Partners Updates Market on Progress of On‑Market Share Buy‑Back
Mar 11, 2026
Regal Partners Limited has provided an update on its on-market share buy-back program for its ordinary fully paid shares, listed under the ASX code RPL. The company disclosed that a total of 505,044 shares had been repurchased prior to the previou...
Regal Partners Updates Market on Progress of On-Market Share Buy-Back
Mar 10, 2026
Regal Partners Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares. The program, originally notified in early February 2026, reflects the company’s active capit...
Regal Partners Reports Daily Progress on On-Market Share Buyback
Mar 8, 2026
Regal Partners Limited has updated the market on its ongoing on-market share buyback program for its ordinary fully paid shares, RPL, on the ASX. The latest daily notification reports that 66,194 shares were repurchased on the previous trading day...
Regal Partners Updates Market on Director Brendan O’Connor’s Shareholding Changes
Mar 5, 2026
Regal Partners has reported changes in the equity holdings of director Brendan O’Connor, reflecting adjustments to both his direct and indirect interests in the company’s ordinary shares. The transactions, executed on 3 and 4 March 202...
Regal Partners director trims indirect stake in on‑market share sales
Mar 3, 2026
Regal Partners Limited has reported a change in the indirect equity interests of director Ian Gibson, held through Gibson Capital Pty Ltd as trustee for the GC Trust. The notice details movements in ordinary shares previously subject to voluntary ...
Regal Partners Files Appendix 4G, Confirms Updated Governance Statement
Feb 23, 2026
Regal Partners Limited has lodged its Appendix 4G and confirmed that its corporate governance statement for the year ended 31 December 2025 is available on its website. The statement has been approved by the board and outlines how the company has ...
Regal Partners boosts profit, assets and launches buyback on strong 2025 performance
Feb 23, 2026
Regal Partners reported strong 2025 results, with funds under management rising 16% to $20.9 billion, driven by $1.5 billion in net inflows and approximately $3.2 billion of positive investment performance. Statutory net profit after tax nearly do...
Regal Partners Declares Interim Dividend and Clarifies Treatment of PM Capital Converting Shares
Feb 23, 2026
Regal Partners Limited has declared a fully franked interim dividend of AUD 0.15 per ordinary share for the six months to 31 December 2025, with an ex-dividend date of 2 March 2026 and payment due on 25 March 2026. The company confirmed that conve...
Regal Partners files 2025 annual report and financial statements
Feb 23, 2026
Regal Partners Limited has lodged its Appendix 4E and Annual Report for the year ended 31 December 2025 with the ASX. The filings include the directors’ report and full financial statements, providing shareholders and the market with detaile...
Regal Partners Confirms Broker for On-Market Share Buy-Back
Feb 22, 2026
Regal Partners Limited, an ASX-listed investment manager, has its ordinary fully paid shares trading under the ticker RPL and operates in the financial services sector with a focus on capital markets. The company actively manages its capital struc...
Regal Partners Confirms Broker for On‑Market Share Buy‑Back
Feb 22, 2026
Regal Partners Limited has updated its previously announced on-market share buy-back for its ordinary fully paid shares, confirming the broker that will conduct purchases on its behalf. The notification, filed as an amendment to its earlier Februa...
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.