WAM Leaders Limited (WLE) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 7.23%
• Average Volume (3M): 1.04M
• Price to Earnings (P/E): 29.2
• Beta (1Y): 0.47
• Revenue Growth: 131.29%
• EPS Growth: 164.41%
• Country: AU
• Employees: N/A
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.02
• Shares Outstanding: 1,376,837,000
• 10 Day Avg. Volume: 1,225,025
• 30 Day Avg. Volume: 1,041,632
• PEG Ratio: 0.15
• Price to Book (P/B): 0.91
• Price to Sales (P/S): 14.70
• P/FCF Ratio: 13.18
• 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: 71 Outperform
• Price Target: AU$1.50 ▲(15.38% Upside)

The score is driven primarily by strong financial quality (debt-free balance sheet and strong reported profitability), tempered by inconsistent cash-flow and earnings variability. Technical signals are broadly neutral with a slightly negative MACD, and valuation is balanced between a higher P/E and a strong dividend yield.

Positive Factors

Strong Balance Sheet

A debt-free balance sheet provides financial flexibility and reduces risk, allowing the company to capitalize on investment opportunities without the burden of interest obligations.

Dividend Distribution

Consistent and increasing dividend payouts indicate strong cash flow management and a commitment to returning value to shareholders, enhancing investor confidence over the long term.

Portfolio Performance

Positive portfolio performance reflects effective asset management and strategic investment decisions, which are crucial for sustaining long-term growth and shareholder returns.

Negative Factors

Earnings Variability

Earnings volatility can lead to unpredictable cash flows and investor uncertainty, potentially impacting the company's ability to consistently meet shareholder expectations.

Underperformance vs. Index

Underperformance relative to the benchmark index suggests challenges in achieving competitive returns, which may affect investor perception and future capital inflows.

Cash Flow Volatility

Inconsistent cash flow generation can hinder the company's ability to fund operations and investments, posing a risk to financial stability and growth prospects.

WAM Leaders Limited Business Overview & Revenue Model

Company Description

WAM Leaders Limited is a close-ended equity mutual fund launched and managed by Wilson Asset Management (International) Pty Limited. The fund is co-managed by MAM Pty Limited. It invests into public equity and fixed income markets of Australia. The fund seeks to invest in stocks of companies that are operating across diversified sectors. It primarily invests in value stocks of large- cap companies on the S&P/ASX 200 Index. The fund employs fundamental analysis, with focus on bottom-up research to create its portfolio. WAM Leaders Limited was formed on April 12, 2016 and is domiciled in Australia.

How the Company Makes Money

WAM Leaders Limited makes money primarily through the capital gains and income generated from its investment portfolio. The company invests in large-cap Australian equities and seeks to deliver superior returns by selecting stocks with strong fundamentals, attractive valuations, and growth potential. Dividends from these investments provide a steady income stream, while the active management strategy aims to enhance capital appreciation. Additionally, WLE may earn revenue from interest on cash and cash equivalents held. The company's performance is also influenced by its ability to effectively manage risk and adapt to market conditions, ensuring sustainable growth and profitability for its shareholders.

WAM Leaders Limited Financial Statement Overview

Summary

Strong overall fundamentals supported by very high latest-period profitability and an exceptionally strong balance sheet (zero debt, high equity). The main offset is consistency: revenue, returns on equity, and cash flows have shown meaningful year-to-year volatility, with earlier periods of negative operating/free cash flow.

Income Statement

Profitability is a clear strength: the latest annual period shows very high operating and net profitability (net margin ~58%), and revenue rebounded strongly (+~35% YoY). However, results have been volatile over time—revenue swung sharply (e.g., very high in 2021/2023 vs. much lower in 2024), and margins also moved meaningfully across years (including a weak 2020 operating result). Overall, strong earnings power but with notable variability typical of market/fee-driven asset managers.

Balance Sheet

Balance sheet quality is very strong with zero debt across all reported periods and a large equity base (FY2025 equity ~A$1.77B vs. assets ~A$1.88B), indicating low financial risk and high flexibility. The main drawback is efficiency: return on equity is modest in the latest year (~3.6%) and has fluctuated substantially (strong in 2021, much lower in 2024–2025), suggesting profitability is not consistently high relative to the capital base.

Cash Flow

Cash generation is mixed. The last two years show solid positive operating cash flow and free cash flow (FY2025 ~A$123M; FY2024 ~A$63M) with free cash flow broadly matching earnings, which supports quality of profits. However, earlier years showed sizable cash outflows (FY2021–FY2023 operating cash flow negative) and free cash flow growth turned slightly negative in the latest year, highlighting volatility and less consistent cash conversion across cycles.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	109.99M	109.99M	47.88M	194.87M	134.86M	349.40M
Gross Profit	109.99M	109.99M	21.78M	169.87M	69.80M	318.99M
EBITDA	78.95M	78.95M	20.16M	168.99M	68.57M	318.09M
Net Income	63.84M	63.84M	22.34M	130.08M	65.76M	228.93M
Balance Sheet
Total Assets	1.88B	1.88B	1.74B	1.83B	1.58B	1.27B
Cash, Cash Equivalents and Short-Term Investments	21.59M	21.59M	16.56M	60.11M	42.63M	31.05M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	101.76M	101.76M	48.05M	56.10M	159.93M	122.30M
Stockholders Equity	1.77B	1.77B	1.69B	1.78B	1.42B	1.15B
Cash Flow
Free Cash Flow	122.67M	122.67M	63.31M	-114.28M	-193.12M	-43.26M
Operating Cash Flow	122.67M	122.67M	63.31M	-114.28M	-193.12M	-43.26M
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	-118.77M	-118.77M	-106.89M	133.72M	204.69M	3.51M

WAM Leaders Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WLE, the sentiment is Positive. The current price of 1.3 is below the 20-day moving average (MA) of 1.36, below the 50-day MA of 1.32, and above the 200-day MA of 1.27, indicating a bullish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 64.57 is Neutral, neither overbought nor oversold. The STOCH value of 46.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:WLE.

WAM Leaders Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EZL	74 Outperform	AU$184.07M	18.20	9.11%	17.89%	18.74%	88.57%
MAM	72 Outperform	AU$75.78M	10.62	32.22%	6.39%	22.67%	19.47%
WLE	71 Outperform	―	29.17	3.68%	7.23%	131.29%	164.41%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
LCE	55 Neutral	AU$26.98M	53.13	2.17%	2.94%	38.32%	―
CIW	53 Neutral	AU$30.94M	55.15	2.42%	2.03%	18.17%	―

WAM Leaders Limited Corporate Events

WAM Leaders Lifts Returns and Maintains High Dividend Yield on Strong December Portfolio Gains

WAM Leaders Limited reported a strong December 2025, with its investment portfolio outperforming the S&P/ASX 200 Accumulation Index and delivering an annualised return of 12.1% since inception versus 9.3% for the benchmark, supported by a $1.8 billion asset base and a month-end share price of $1.315. The company highlighted a fully franked full-year dividend of 9.4 cents per share, equating to a 7.1% dividend yield and 10.1% grossed-up yield, underpinned by a profits reserve of 27.4 cents per share, while noting that sustaining dividend levels will depend on continued portfolio performance and franking credit generation in FY2026. December performance was driven by strong gains in materials and financials, with Rio Tinto and Whitehaven Coal key contributors, as WAM Leaders modestly increased its exposure to banks and added to its position in Whitehaven on firming coal prices, reflecting a strategy focused on capitalising on sector tailwinds and disciplined stock selection to maintain income and growth for investors.

The most recent analyst rating on (AU:WLE) stock is a Buy with a A$1.50 price target. To see the full list of analyst forecasts on WAM Leaders Limited stock, see the AU:WLE Stock Forecast page.

WAM Leaders Limited 2025 AGM Results Announced

WAM Leaders Limited held its 2025 Annual General Meeting, where resolutions and proxies were discussed as per ASX Listing Rule 3.13.2 and Section 251AA of the Corporations Act 2001. This meeting is a key part of the company’s governance, impacting its operational transparency and stakeholder engagement.

WAM Leaders Limited Reports FY2025 Performance and Positive Outlook

WAM Leaders Limited reported a mixed performance for FY2025, with its investment portfolio increasing by 5.9% but underperforming the S&P/ASX 200 Accumulation Index, which rose by 13.8%. Despite this, the company increased its fully franked dividend to 9.4 cents per share, supported by a strong operating profit before tax of $79 million. Looking ahead, the company anticipates improved performance as previous negative dynamics turn positive, with an 8.4% increase in the investment portfolio in the four months to October 2025. The company remains focused on shareholder advocacy and addressing key issues in the Australian equity market.

WAM Leaders Limited Updates Director’s Shareholding

WAM Leaders Limited announced a change in the director’s interest, specifically for Director Kate Thorley. The change involved the acquisition of 536 ordinary shares through a dividend reinvestment plan, increasing her direct holding to 15,412 shares. This adjustment reflects the company’s ongoing commitment to aligning management interests with shareholder value, potentially impacting investor confidence and market perception positively.

WAM Leaders Limited Expands Capital with New Securities Issuance

WAM Leaders Limited has announced the issuance of 3,366,330 ordinary fully paid securities to be quoted on the Australian Securities Exchange (ASX) as of November 17, 2025. This move is part of a dividend or distribution plan, potentially enhancing the company’s market presence and providing additional value to its stakeholders by expanding its capital base.

WAM Leaders Limited Updates Dividend Distribution Details

WAM Leaders Limited has announced an update regarding its dividend distribution for the period ending June 30, 2025. The update pertains to the Dividend Reinvestment Plan (DRP) price, reflecting changes from a previous announcement made on August 15, 2025. This update is significant for stakeholders as it impacts the financial returns and investment strategies associated with the company’s ordinary fully paid securities.

WAM Leaders Limited Outperforms Market with Strong October Results

WAM Leaders Limited announced a strong investment portfolio performance for October 2025, surpassing the S&P/ASX 200 Accumulation Index, primarily due to robust contributions from the materials sector. The company’s ability to continue paying fully franked dividends hinges on generating additional profits and franking credits, with recent portfolio successes attributed to companies like Rio Tinto and South32, which have benefited from favorable market conditions and strategic developments.

WAM Leaders Limited Announces 2025 AGM Details

WAM Leaders Limited has announced its 2025 Annual General Meeting (AGM) scheduled for November 19, 2025, at the Museum of Sydney, with online access available for participants. The AGM will cover the consideration of financial statements, adoption of the Remuneration Report, and the election and re-election of directors, including Dr. Ian Langford and Ms. Melinda Snowden. These proceedings are significant for stakeholders as they involve critical decisions regarding company leadership and financial policies, impacting future governance and strategic direction.