WAM Global Ltd. (WGB) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 9.39%
• Average Volume (3M): 313.33K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.47
• Revenue Growth: 34.82%
• EPS Growth: 39.08%
• Country: AU
• Employees: N/A
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management - Global
• EPS (TTM): N/A
• Shares Outstanding: 358,612,000
• 10 Day Avg. Volume: 250,167
• 30 Day Avg. Volume: 313,327
• PEG Ratio: 0.23
• Price to Book (P/B): 0.99
• Price to Sales (P/S): 5.52
• P/FCF Ratio: 18.66
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: AU$2.50 ▲(2.04% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is driven primarily by strong financial positioning (notably zero debt and strong profitability) and attractive valuation (low P/E and high dividend yield). These positives are tempered by less convincing technical momentum and the key fundamental risk of earnings and cash-flow volatility, which reduces confidence in consistency.

Positive Factors

Conservative balance sheet (zero debt)

Zero reported debt and a large equity base provide structural financial resilience. With no leverage, the company has lower solvency risk, greater flexibility to endure market drawdowns, and capacity to support distributions or opportunistic capital deployment without refinancing stress.

Strong recent profitability and revenue growth

High net margins and meaningful top-line growth in the latest period demonstrate strong earnings power from the investment portfolio and operating structure. Sustained profitability increases retained equity, supports NTA growth, and underpins the company’s long-term ability to pay dividends.

Experienced external manager (Wilson Asset Management)

Being managed by an established specialist manager provides ongoing active stock selection, portfolio construction and risk controls. This structural management capability can enhance long-run returns and consistency of investment process across global markets.

Negative Factors

Material earnings volatility

Historic swings including a loss year indicate portfolio-driven volatility that reduces predictability of earnings and NTA. For investors seeking consistent distributions, such structural variability complicates planning, increases required reserves, and can force defensive capital actions in downturns.

Weak and inconsistent cash conversion

Profitability that does not reliably convert to cash creates longer-term operational risk. Reliance on unrealised gains or market timing to realise value can impair the firm’s ability to fund dividends or capital management without selling assets, increasing sensitivity to market liquidity and timing.

High dependence on external market and currency moves

Structural reliance on global markets and FX exposes performance to macro cycles beyond management control. This persistent external sensitivity means returns hinge on broad market direction and currency shifts, limiting predictability and elevating correlation to systemic equity risk.

WAM Global Ltd. Business Overview & Revenue Model

Company Description

WAM Global Limited is a listed investment company launched and managed by Wilson Asset Management (International) Pty Limited. The firm invests in the public equity markets across the globe. It primarily invests in value stocks of companies. WAM Global Limited is based in Sydney, Australia.

How the Company Makes Money

WAM Global Ltd makes money primarily through (1) investment returns generated by its portfolio and (2) fees and other income items typical of listed investment companies. 1) Portfolio investment returns (core economic driver) - Capital gains: If the market value of the portfolio’s holdings increases and positions are sold at a profit, gains are realised and contribute to profit and net tangible assets (NTA). - Unrealised gains: Increases in the market value of holdings that are not sold still lift NTA and reported investment performance, which can support the share price and the company’s ability to pay dividends over time. - Dividend and other investment income: The company receives dividends (and potentially other distributions) paid by the underlying international companies it owns. This income contributes to earnings and, depending on board policy and available reserves, can support dividends to WGB shareholders. 2) Management and operating cost structure (how returns are monetised for stakeholders) - As a listed investment company, WGB is externally managed by Wilson Asset Management, which typically earns management fees (and may earn performance fees, depending on the applicable arrangements). These fees are paid by WGB and reduce the net returns available to WGB shareholders. - WGB also incurs operating expenses associated with running a listed company (e.g., administration, custody, registry, audit, ASX listing and compliance costs). These are paid from the company’s assets and similarly reduce net returns. 3) Factors that influence reported earnings and shareholder outcomes - Market conditions and currency movements: Because WGB invests internationally, portfolio returns can be affected by global equity market performance and foreign exchange movements when translated back to Australian dollars. - Portfolio turnover and realised gains: The manager’s trading activity influences how much performance is realised versus unrealised in any period. - Premium/discount to NTA: The company’s share price can trade above or below NTA; while this does not directly change portfolio earnings, it can affect shareholder returns and the attractiveness of capital management initiatives. null

WAM Global Ltd. Financial Statement Overview

Summary

Strong profitability and growth in the latest annual period (about 64% net margin and +34.8% revenue growth) plus a very conservative balance sheet with zero debt and high equity. Offsetting this, results have shown cycle volatility (notably a loss year in 2022) and cash conversion has been uneven, with operating cash flow covering less than half of net income in 2025 and historical cash flow volatility.

Income Statement

Profitability is very strong in the most recent annual period, with net income of 103.3M on revenue of 161.1M (about a 64% net margin) and meaningful revenue growth (+34.8%). The business also shows strong earnings power in other profitable years (2021–2025). However, results are not fully stable across the cycle, highlighted by a sharp loss year in 2022 (negative revenue and net income), which lowers confidence in consistency.

Balance Sheet

The balance sheet is conservatively positioned with zero debt across all reported years and a large equity base (about 899.9M equity vs. 956.9M assets in 2025), which supports resilience. Returns on equity are solid in the profitable years (roughly 9%–15% in 2021–2025), though they can swing materially during downturns (negative in 2022), reflecting earnings volatility rather than leverage risk.

Cash Flow

Cash generation is mixed. In 2025, operating cash flow was positive at 47.6M and broadly in line with free cash flow, but it covered less than half of net income (about 46%), suggesting earnings did not fully convert to cash that year. Cash flows have also been volatile historically, with negative operating and free cash flow in 2020–2022 despite positive profits in some of those periods, while 2023–2024 show improved and positive cash generation.

Breakdown	TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2021
Income Statement
Total Revenue	119.50M	161.10M	118.73M	129.85M	-155.60M	144.59M
Gross Profit	108.33M	160.11M	107.56M	119.67M	-166.59M	136.89M
EBITDA	107.31M	147.62M	107.31M	119.68M	-166.58M	136.99M
Net Income	401.31M	103.34M	73.94M	84.76M	-116.68M	95.93M
Balance Sheet
Total Assets	869.99M	956.94M	869.99M	829.63M	766.46M	653.57M
Cash, Cash Equivalents and Short-Term Investments	853.20M	60.32M	853.20M	806.77M	728.51M	31.55M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	40.34M	57.05M	40.34M	11.30M	1.11M	38.39M
Stockholders Equity	829.66M	899.90M	829.66M	814.56M	765.35M	615.17M
Cash Flow
Free Cash Flow	48.12M	47.61M	48.12M	16.28M	-116.68M	-47.27M
Operating Cash Flow	48.12M	47.61M	48.12M	16.28M	-116.68M	-47.27M
Investing Cash Flow	0.00	0.00	0.00	0.00	139.61M	0.00
Financing Cash Flow	-37.52M	-40.13M	-37.52M	-35.54M	-3.18M	41.95M

WAM Global Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WGB, the sentiment is Negative. The current price of 2.45 is above the 20-day moving average (MA) of 2.29, above the 50-day MA of 2.37, and above the 200-day MA of 2.42, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 34.75 is Neutral, neither overbought nor oversold. The STOCH value of 15.27 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:WGB.

WAM Global Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WAM	77 Outperform	―	21.13	5.08%	8.71%	-6.60%	-5.26%
WGB	74 Outperform	―	-19.86	1.95%	9.39%	34.82%	39.08%
WAR	72 Outperform	―	4.04	8.23%	6.06%	-51.66%	-47.96%
WLE	71 Outperform	―	4.54	6.97%	7.23%	131.29%	164.41%
WMI	69 Neutral	―	3.63	10.42%	6.58%	20.90%	2.75%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
WMA	57 Neutral	―	7.67	3.55%	5.70%	1.20%	-1.85%

WAM Global Ltd. Corporate Events

WAM Global updates dividend reinvestment plan to align with market practice

WAM Global Limited, an ASX-listed listed investment company, offers investors a diversified, actively managed portfolio of undervalued international growth equities aimed at delivering capital growth, franked dividends and capital preservation over the medium to long term. The company is available on major investment platforms and is managed by Wilson Asset Management, a long-established Australian fund manager with more than $6 billion in funds under management.

The company has updated its Dividend Re-Investment Plan rules to allow residual cash balances to be carried forward and to bring the plan into line with prevailing market practice. All other changes are described as administrative, suggesting the move is designed to improve operational efficiency and investor experience without materially altering the structure of shareholder returns.

The most recent analyst rating on (AU:WGB) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on WAM Global Ltd. stock, see the AU:WGB Stock Forecast page.

WAM Global Flags Solid Dividends as Masimo Takeover Validates Strategy

WAM Global Limited reported a pre-tax net tangible asset backing of 219.79 cents per share at the end of February 2026, with total assets of $789.1 million and an investment portfolio that has returned 7.9% per annum since its June 2018 inception, lagging the MSCI World Index (AUD). The board declared a fully franked interim dividend of 6.6 cents per share, supporting an annualised fully franked dividend yield of 5.6% and a grossed-up yield of 8.0%, underpinned by a profits reserve of 75.1 cents per share.

The portfolio fell over the month, though Masimo Corporation contributed positively after agreeing to a USD9.9 billion takeover by Danaher at a 38% premium, validating WAM Global’s view that the market had undervalued Masimo’s technology and recurring revenues. Intercontinental Exchange detracted from performance despite strong FY25 results and rising exchange revenues, as its shares sold off on broader concerns about artificial intelligence disruption, which WAM Global regards as a mispricing given ICE’s entrenched data moat and potential to benefit from AI-driven analytics.

The most recent analyst rating on (AU:WGB) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on WAM Global Ltd. stock, see the AU:WGB Stock Forecast page.

WAM Global and Future Generation Launch National 2026 Shareholder Roadshow

Wilson Asset Management and its affiliated Future Generation funds will hold a national series of shareholder presentations for WAM Global Ltd. investors in April and May 2026, spanning major Australian cities including Canberra, Sydney, Brisbane, Melbourne, Perth, Adelaide and Hobart. The roadshow will provide portfolio updates from the investment team, opportunities for shareholder Q&A, and in Sydney and Melbourne a panel featuring Geoff Wilson AO alongside The Australian Financial Review and Future Generation representatives, underscoring the group’s emphasis on transparency, engagement and its dual focus on financial performance and social impact.

Each event will run a half‑day program with morning registration and refreshments, followed by formal presentations from the Wilson Asset Management investment team and Future Generation, and conclude with lunch and networking with the team. By staging these in‑person sessions nationwide, WAM Global and its affiliates aim to deepen relationships with their retail investor base, reinforce confidence in their investment strategy, and highlight the distinctive philanthropic overlay that differentiates them in Australia’s listed investment company sector.

The most recent analyst rating on (AU:WGB) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on WAM Global Ltd. stock, see the AU:WGB Stock Forecast page.

WAM Global Schedules FY2026 Interim Results Q&A Webinar

WAM Global will host an FY2026 interim results Q&A webinar on 19 March 2026 at 10:00am Sydney time, led by lead portfolio manager Catriona Burns with portfolio managers Nick Healy and William Liu. The session will update shareholders on the investment portfolio and global markets while offering an extended Q&A, underscoring the firm’s emphasis on transparency and direct engagement with investors about portfolio strategy and performance.

The most recent analyst rating on (AU:WGB) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on WAM Global Ltd. stock, see the AU:WGB Stock Forecast page.

WAM Global Posts Half-Year Loss but Lifts Fully Franked Interim Dividend

WAM Global Limited reported a sharp reversal in performance for the half year ended 31 December 2025, posting revenue from ordinary activities of negative $9.1 million and a net loss after tax of $11.1 million, compared with a profit in the prior corresponding period. Net tangible asset backing per share also declined year-on-year, with before-tax NTA falling to $2.40 and after-tax NTA to $2.42, reflecting weaker portfolio returns and marking a more challenging trading environment for investors.

Despite the loss, the board declared a fully franked interim dividend of 6.6 cents per share for 2026, slightly higher than the prior final dividend, and confirmed that the dividend reinvestment plan will operate without a discount. The decision to maintain and modestly increase shareholder distributions, supported by fully franked credits, signals a continued focus on income for investors even as portfolio performance softens and asset backing eases, which may reassure income-focused shareholders while highlighting near-term pressure on returns.

The most recent analyst rating on (AU:WGB) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on WAM Global Ltd. stock, see the AU:WGB Stock Forecast page.

WAM Global Declares Interim Dividend of 6.6 Cents a Share

WAM Global Limited has declared an ordinary dividend of AUD 0.066 per fully paid share, relating to the six-month period ended 31 December 2025. The distribution will follow an ex-dividend date of 13 April 2026, with a record date of 14 April and payment scheduled for 28 April, and investors may elect participation in the dividend reinvestment plan by 16 April.

The announcement underscores WAM Global’s continued capital management and income distribution strategy, offering shareholders ongoing yield from its global investment portfolio. The timing and size of the dividend indicate sustained cash generation and may support investor confidence in the company’s performance and its ability to maintain regular returns in the current market environment.

The most recent analyst rating on (AU:WGB) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on WAM Global Ltd. stock, see the AU:WGB Stock Forecast page.

WAM Global schedules FY2026 interim results investor webinars

WAM Global Ltd., an Australian global equities investment company managed by Wilson Asset Management, offers investors exposure to a diversified portfolio of international shares through an actively managed listed investment structure.

The company has scheduled a series of FY2026 interim results Q&A webinars in March 2026, giving investors multiple session times to hear from and engage with the investment team. The events aim to enhance transparency around the interim results, deepen shareholder communication, and provide a forum for questions on portfolio positioning and performance.

The most recent analyst rating on (AU:WGB) stock is a Buy with a A$3.00 price target. To see the full list of analyst forecasts on WAM Global Ltd. stock, see the AU:WGB Stock Forecast page.

WAM Global lifts income return as Synopsys shines and Quanta weighs on December portfolio

WAM Global Limited reported net tangible assets before tax of 239.71 cents per share at 31 December 2025, with total assets of $860.8 million and a month-end share price of $2.47. Since its June 2018 inception, the investment portfolio has returned 9.3% per annum, trailing the MSCI World Index (AUD) return of 13.5% per annum, but the company continues to emphasise shareholder income, declaring a fully franked full-year dividend of 17.0 cents per share including a 4.0 cent special dividend, equating to a 5.3% fully franked yield and a 7.6% grossed-up yield, supported by a profits reserve of 75.1 cents per share and cumulative dividends of 70.5 cents per share (100.7 cents including franking credits) since inception. The December portfolio performance was mixed, with Synopsys contributing positively after strong FY2025 results, record backlog and strategic tailwinds from AI-related chip complexity and the Ansys acquisition, while Quanta Services detracted amid market concerns over AI-related capital spending; however, WAM Global highlighted its ongoing confidence in both businesses’ long-term growth prospects, underscoring a strategy tilted toward companies benefiting from structural themes such as AI, grid modernisation and data centre expansion.

The most recent analyst rating on (AU:WGB) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on WAM Global Ltd. stock, see the AU:WGB Stock Forecast page.