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WAM Alternative Assets Ltd
(Sydney:WMA)
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Rating:59Neutral
Price Target:
AU$1.00
â–²(1.01% Upside)
Action:Reiterated
Date:08/04/26
The score is held back primarily by weak recent cash flow (negative operating and free cash flow) and volatile/declining revenue, despite a very conservative, debt-free balance sheet. Technicals are neutral with mild positive momentum, while valuation is mixed—an attractive ~6% yield offset by a relatively high ~24x P/E.
Positive Factors
Conservative, debt-free balance sheet
A zero-debt structure and sizeable equity base provide durable financial flexibility. Over a 2–6 month horizon this reduces solvency and refinancing risk, lets management hold positions through market stress, and funds opportunistic purchases or distributions without raising debt.
Negative Factors
Weak cash generation and negative operating cash flow
Earnings are not converting into cash in recent years, increasing reliance on the balance sheet to fund operations or distributions. Persisting negative cash flow risks forced asset sales, reduced capital flexibility, and greater execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative, debt-free balance sheet
A zero-debt structure and sizeable equity base provide durable financial flexibility. Over a 2–6 month horizon this reduces solvency and refinancing risk, lets management hold positions through market stress, and funds opportunistic purchases or distributions without raising debt.
Read all positive factors
WAM Alternative Assets Ltd (WMA) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$195.47M
Dividend Yield6.06%
Average Volume (3M)225.73K
Price to Earnings (P/E)24.1
Beta (1Y)0.14
Revenue Growth-21.59%
EPS Growth-27.64%
CountryAU
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.04
Shares Outstanding197,446,800
10 Day Avg. Volume218,199
30 Day Avg. Volume225,728
Financial Highlights & Ratios
PEG Ratio-13.94
Price to Book (P/B)0.83
Price to Sales (P/S)16.36
P/FCF Ratio-16.25
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
WAM Alternative Assets Ltd Business Overview & Revenue Model
Company Description
A listed investment company that provides retail investors with exposure to a portfolio of real assets, private equity, infrastructure, real estate and private debt strategies. The company's investment objectives are to deliver absolute returns th...
How the Company Makes Money
WMA makes money primarily from investment returns generated by its portfolio of alternative assets. These returns typically come from (i) income and distributions received from underlying investments (for example, interest, coupons, rental-style i...
WAM Alternative Assets Ltd Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
84
Very Positive
Cash Flow
38
Negative
| Breakdown | TTM | Jun 2024 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.19M | 11.45M | 11.77M | 15.14M | 26.81M | 6.27M |
| Gross Profit | 13.00M | 11.45M | 9.36M | 14.45M | 25.38M | 3.98M |
| EBITDA | 11.10M | 8.31M | 7.93M | 11.71M | 23.22M | 22.63M |
| Net Income | 8.08M | 6.23M | 6.34M | 9.48M | 18.05M | 18.02M |
Balance Sheet | ||||||
| Total Assets | 270.20M | 274.92M | 277.67M | 291.48M | 301.31M | 264.32M |
| Cash, Cash Equivalents and Short-Term Investments | 282.83K | 39.81M | 61.03M | 78.45M | 298.76M | 262.33M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 42.23M | 47.97M | 47.25M | 58.09M | 69.39M | 43.32M |
| Stockholders Equity | 227.97M | 226.96M | 230.42M | 233.39M | 231.92M | 221.00M |
Cash Flow | ||||||
| Free Cash Flow | -39.96M | -11.53M | -8.11M | 21.53M | 20.58M | 4.67M |
| Operating Cash Flow | -39.96M | -11.53M | -8.11M | 21.53M | 20.58M | 4.67M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | -10.38M | -9.69M | -9.31M | -8.02M | -7.14M | -8.12M |
WAM Alternative Assets Ltd Technical Analysis
Positive
0.99
Price Trends
0.98
Positive
0.98
Positive
0.98
Positive
Market Momentum
<0.01
Negative
55.78
Neutral
41.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WMA, the sentiment is Positive. The current price of 0.99 is above the 20-day moving average (MA) of 0.99, above the 50-day MA of 0.98, and above the 200-day MA of 0.98, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 55.78 is Neutral, neither overbought nor oversold. The STOCH value of 41.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:WMA.
WAM Alternative Assets Ltd Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$220.54M | -205.88 | -0.49% | 9.30% | -101.91% | -102.42% | |
72 Outperform | AU$1.75B | 18.44 | 5.08% | 9.91% | -66.55% | -65.99% | |
72 Outperform | AU$208.95M | 10.79 | 8.23% | 5.68% | 13.71% | 10.49% | |
72 Outperform | AU$2.07B | 11.35 | 8.92% | 6.86% | 125.29% | 151.28% | |
71 Outperform | AU$399.50M | 9.49 | 10.42% | 7.34% | -95.35% | -99.87% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
59 Neutral | AU$195.47M | 24.09 | 3.55% | 6.06% | -21.59% | -27.64% |
* Financial Sector Average
AU:WMA
WAM Alternative Assets Ltd
0.99
0.04
4.65%
AU:WAM
WAM Capital Ltd.
1.54
-0.04
-2.53%
AU:WAR
WAM Strategic Value Ltd
1.16
0.08
7.01%
AU:WMI
WAM Microcap Ltd.
1.42
-0.07
-4.95%
AU:WLE
WAM Leaders Limited
1.34
0.10
8.01%
AU:WAX
WAM Research Ltd.
1.05
-0.07
-6.08%
WAM Alternative Assets Ltd Corporate Events
WAM Alternative Assets boosts NTA as portfolio pivots to new private equity holdings
Jul 14, 2026
WAM Alternative Assets reported a June 2026 pre-tax net tangible asset value of 119.01 cents per share, up from May, with the post-tax NTA at 117.99 cents after a $2 million tax provision adjustment for the 2025 financial year. The company maintai...
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.