HMC CAPITAL LIMITED (HMC)
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HMC

HMC - HMC CAPITAL LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 9.1
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.78

19 Jun
2025

0.080

OPEN

$4.76

1.70%

HIGH

$4.92

2,266,837

LOW

$4.74

TARGET
$7.36

-0.88 change from previous day

 54.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . BVS . CGF . CVW . DJW . ENN . GDC . GDG . GQG . HUB . IFL . IFT . IRE . KAM . KSL . MAF . MFG . MQG . NGI . NWL . PAC . PNI . PPS . PPT . PTM . QAL . RPL . RZI . WHF .
FNARENA'S MARKET CONSENSUS FORECASTS
HMC: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 18.9 44.7 xxx
DPS (cps) xxx 12.0 12.0 xxx
EPS Growth xxx - 3.0% 100.0% xxx
DPS Growth xxx 0.0% 0.0% xxx
PE Ratio xxx N/A 10.7 xxx
Dividend Yield xxx N/A 2.5% xxx
Div Pay Ratio(%) xxx 63.6% 26.8% xxx

Dividend yield today if purchased 3 years ago: 2.67%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.51

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 27/08 - ex-div 6c (franking 70%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 20202021202220232024
EPS Basic xxxxxxxxxxxx18.9
DPS All xxxxxxxxxxxx12.0
Sales/Revenue xxxxxxxxxxxx81.4 M
Book Value Per Share xxxxxxxxxxxx328.0
Net Operating Cash Flow xxxxxxxxxxxx69.6 M
Net Profit Margin xxxxxxxxxxxx81.08 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 20202021202220232024
Return on Capital Employed xxxxxxxxxxxx5.85 %
Return on Invested Capital xxxxxxxxxxxx5.84 %
Return on Assets xxxxxxxxxxxx4.21 %
Return on Equity xxxxxxxxxxxx5.85 %
Return on Total Capital xxxxxxxxxxxx1.34 %
Free Cash Flow ex dividends xxxxxxxxxxxx27.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 20202021202220232024
Short-Term Debt xxxxxxxxxxxx200 M
Long Term Debt xxxxxxxxxxxx2 M
Total Debt xxxxxxxxxxxx202 M
Goodwill - Gross xxxxxxxxxxxx49 M
Cash & Equivalents - Generic xxxxxxxxxxxx255 M
Price To Book Value xxxxxxxxxxxx2.20

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 20202021202220232024
Capex xxxxxxxxxxxx0.0 M
Capex % of Sales xxxxxxxxxxxx0.00 %
Cost of Goods Sold xxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxx59 M
Research & Development xxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxx733 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.4

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Bell Potter

11/04/2025

1

Buy

$8.15

70.50%

Post HMC Capital's first investor day, Bell Potter reviews some of the key earnings forecast assumptions.

Notably, DigiCo Infrastructure REIT's ((DGT)) poor performance has impacted the mark-to-market stake for HMC, while there is an expected distribution of $300m (around $150m for HMC Capital) from private equity/fund raising from CP-1 before the restructuring, the analyst explains.

Management remains confident in the fundraising for the $2bn Energy Transition fund including $100m from HMC, while the balance sheet is expected to have around $575m in undrawn available cash, which should mitigate fund funding for Healthscope and HealthCo REIT ((HCW)).

Bell Potter lowers EPS forecasts by -18.7% for FY25 and -16% for FY26 with unchanged dividend per share estimates.

Buy rating reaffirmed. Target price cut to $8.15 from $12.90.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 12.00 cents and EPS of 46.90 cents.
Bell Potter forecasts a full year FY26 dividend of 12.00 cents and EPS of 46.80 cents.

Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

11/06/2025

2

Overweight

$6.85

43.31%

Ahead of the FY25 reporting season in August, Jarden has marked-to-market the REIT sector to account for news flow, and the latest BBSW futures curve and risk-free rates.

Overall, the broker expects upbeat messages from the REITs, most likely to guide to an accelerating NTA and FFO growth.

In the case of HMC Capital, the broker will be looking for an update on capital raising and progress across the energy transition.

For FY26, the broker forecasts a -8% decline in underlying EPS to 25.3c. Overweight. Target unchanged at $6.85.

FORECAST
Jarden forecasts a full year FY25 dividend of 12.00 cents and EPS of 27.40 cents.
Jarden forecasts a full year FY26 dividend of 12.00 cents and EPS of 25.30 cents.
Access Extra Coverage Research History >

HMC STOCK CHART

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