WAM Microcap Ltd. (AU:WMI)
ASX:WMI
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WAM Microcap Ltd.
(Sydney:WMI)
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Rating:69Neutral
Price Target:
AU$2.00
▲(24.22% Upside)
Action:DowngradedDate:12/30/25
The score is driven primarily by strong financial quality (high profitability in the latest year and a debt-free balance sheet), tempered by meaningful cash flow and earnings volatility. Valuation is a positive contributor due to the low P/E and high dividend yield, while technicals are neutral with limited momentum.
Positive Factors
Debt-free balance sheet
A zero-debt capital structure materially reduces financial risk and increases durable flexibility: management can withstand market drawdowns, fund opportunistic purchases or distributions from equity/cash, and avoid covenant or refinancing pressures that could impair long-term strategy.
Negative Factors
Inconsistent cash generation
Material swings in operating and free cash flow reduce predictability of funding for dividends, fees and opportunistic investments. Over a multi-month horizon, this inconsistency weakens confidence in steady shareholder distributions and constrains strategic planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A zero-debt capital structure materially reduces financial risk and increases durable flexibility: management can withstand market drawdowns, fund opportunistic purchases or distributions from equity/cash, and avoid covenant or refinancing pressures that could impair long-term strategy.
Read all positive factors
WAM Microcap Ltd. (WMI) vs. iShares MSCI Australia ETF (EWA)
Market Cap
N/A
Dividend Yield6.58%
Average Volume (3M)185.66K
Price to Earnings (P/E)3.6
Beta (1Y)0.50
Revenue Growth-36.87%
EPS Growth-33.05%
CountryAU
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)N/A
Shares Outstanding280,198,580
10 Day Avg. Volume152,588
30 Day Avg. Volume185,658
Financial Highlights & Ratios
PEG Ratio1.39
Price to Book (P/B)1.02
Price to Sales (P/S)5.81
P/FCF Ratio29.20
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 Microcap Ltd. Business Overview & Revenue Model
Company Description
WAM Microcap Limited is a closed-ended equity mutual fund launched and managed by MAM Pty Limited. The fund invests in public equity markets of Australia. It invests in stocks of companies operating across diversified sectors. The fund invests in ...
How the Company Makes Money
WAM Microcap Ltd. makes money primarily through capital gains and dividends from its investments in microcap companies. The company employs a research-driven approach to identify undervalued opportunities with growth potential. Revenue streams inc...
WAM Microcap Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
88
Very Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 57.37M | 69.36M | 50.38M | 43.23M | -49.95M | 119.44M |
| Gross Profit | 47.58M | 60.42M | 40.59M | 35.99M | -54.13M | 107.55M |
| EBITDA | 46.92M | 59.71M | 46.92M | 35.36M | -53.88M | 107.01M |
| Net Income | 34.21M | 43.58M | 34.21M | 26.32M | -36.10M | 76.10M |
Balance Sheet | ||||||
| Total Assets | 400.27M | 411.54M | 400.27M | 287.99M | 273.05M | 371.29M |
| Cash, Cash Equivalents and Short-Term Investments | 60.12M | 410.41M | 60.12M | 35.97M | 49.60M | 65.65M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 23.12M | 16.67M | 23.12M | 12.18M | 4.84M | 43.65M |
| Stockholders Equity | 377.15M | 394.87M | 377.15M | 275.82M | 268.21M | 327.63M |
Cash Flow | ||||||
| Free Cash Flow | -43.01M | 13.80M | -43.01M | 4.35M | 16.05M | -63.82M |
| Operating Cash Flow | -43.01M | 13.80M | -43.01M | 4.35M | 16.05M | -63.82M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | 66.84M | -25.87M | 66.84M | -18.71M | -23.33M | 70.06M |
WAM Microcap Ltd. Technical Analysis
Negative
1.61
Price Trends
1.57
Negative
1.60
Negative
1.59
Negative
Market Momentum
<0.01
Negative
49.28
Neutral
47.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WMI, the sentiment is Negative. The current price of 1.61 is above the 20-day moving average (MA) of 1.55, above the 50-day MA of 1.57, and above the 200-day MA of 1.59, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 49.28 is Neutral, neither overbought nor oversold. The STOCH value of 47.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:WMI.
WAM Microcap Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | AU$56.18M | 2.97 | 35.99% | 6.39% | 0.11% | 21.50% | |
69 Neutral | ― | 3.63 | 10.42% | 6.58% | -36.87% | -33.05% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | AU$18.57M | 5.24 | 4.65% | ― | 286.79% | -74.76% | |
61 Neutral | AU$53.81M | 19.67 | 3.43% | 6.89% | -26.20% | -112.45% | |
54 Neutral | AU$26.98M | 38.35 | 1.46% | 2.94% | 68.66% | 278.13% | |
53 Neutral | AU$25.96M | 46.88 | 4.11% | 2.03% | 35.83% | ― |
* Financial Sector Average
AU:WMI
WAM Microcap Ltd.
1.57
0.18
13.28%
AU:LCE
London City Equities Ltd
0.85
0.01
1.19%
AU:CIW
Clime Investment Management Ltd
0.32
-0.03
-8.16%
AU:MAM
Microequities Asset Management Group Ltd.
0.43
-0.03
-7.13%
AU:PVL
Powerhouse Ventures Ltd.
0.12
0.03
27.78%
AU:SB2
Salter Brothers Emerging Companies Ltd.
0.64
-0.04
-5.60%
WAM Microcap Ltd. Corporate Events
WAM Microcap Releases FY2026 Interim Results Webinar Recording
Mar 18, 2026
WAM Microcap Ltd. has released access to a recording of its FY2026 interim results webinar, led by portfolio managers Oscar Oberg and Tobias Yao. The session provides investors with an update on portfolio performance and strategy, reinforcing the ...
WAM Microcap updates dividend reinvestment plan to align with market practice
Mar 13, 2026
WAM Microcap Limited has revised its Dividend Reinvestment Plan rules following a review aimed at aligning the framework with prevailing market practice. The key change allows residual cash balances, which previously may have been returned or laps...
WAM Microcap Holds Dividend Line as February Portfolio Slips
Mar 11, 2026
WAM Microcap reported that its investment portfolio declined in February 2026, although it continues to outperform the SP/ASX Small Ordinaries Accumulation Index since inception, and manages $388.9 million in assets. The company maintains a strong...
Wilson Asset Management Ceases to Be Substantial Holder in AI-Media Technologies
Mar 10, 2026
Wilson Asset Management Group has lodged a notice indicating it has ceased to be a substantial holder in AI-Media Technologies Limited, ending its previous large shareholding in the ASX-listed company. The change in substantial holding status sugg...
Wilson Asset Management and Future Generation Launch 2026 National Shareholder Roadshow
Mar 9, 2026
Wilson Asset Management and the Future Generation group will hold a national series of shareholder presentations in April and May 2026, visiting major Australian cities including Canberra, Sydney, Brisbane, Melbourne, Perth, Adelaide and Hobart. T...
WAM Listed Investment Vehicles to Host FY2026 Interim Results Q&A Webinar
Mar 4, 2026
WAM Microcap Ltd., together with related listed investment companies WAM Capital, WAM Research and WAM Active, will participate in a joint FY2026 interim results webinar to brief shareholders on portfolio performance and market positioning. Lead P...
Wilson Asset Management Ceases to Be Substantial Holder in EML Payments
Mar 3, 2026
Wilson Asset Management Group has lodged a notice stating it has ceased to be a substantial shareholder in EML Payments Limited, indicating its holding has fallen below the regulatory threshold for substantial ownership. The change, effective 28 A...
WAM Microcap Schedules FY2026 Interim Results Q&A Webinars
Feb 24, 2026
WAM Microcap Ltd. has scheduled a series of FY2026 interim results QA webinars in March 2026, with multiple sessions offered across different dates and times in Sydney. Investors are invited to register for these online events and submit questions...
WAM Microcap leans on dividends as tech weakness tempers strong long-term returns
Feb 9, 2026
WAM Microcap reported net tangible assets per share of 146.07 cents before tax at January 2026 and assets of $409.7 million, with its investment portfolio returning 16.2% per annum since inception versus 8.7% for the SP/ASX Small Ordinaries Accumu...
WAM Microcap Lifts Dividend as Portfolio Outperforms Despite December Pullback
Jan 8, 2026
WAM Microcap reported net tangible assets of 149.64 cents per share after tax at 31 December 2025 and a portfolio size of $419.8 million, with its investment portfolio delivering 16.7% per annum since inception, significantly outperforming the SP/...
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.