Pinnacle Investment Management Group Ltd (PNI) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Pinnacle Investment Management Group Ltd stock A$9.96, price A$15.84, that is 37.1% below the price, quality 53 out of 100. Rating: strongly overvalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range A$5.71 – A$24.40 · fair‑value band A$5.51 – A$18.34 · the A$15.84 price screens above the A$9.96 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Pinnacle Investment Management Group Limited operates as an investment management company in Australia. The company offers third party distribution, and fund infrastructure and support services to its affiliates and various investment managers.
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It also operates as a corporate trustee and responsible entity for retail and wholesale investment trusts. The company was formerly known as Wilson Group Limited and changed its name to Pinnacle Investment Management Group Limited in August 2016.
Pinnacle Investment Management Group Limited was founded in 1895 and is based in Sydney, Australia with additional offices in Brisbane, Australia, Melbourne, Australia, and London, United Kingdom.
Stock analysis
Pinnacle Investment Management Group Ltd (PNI) currently trades at A$15.84, while our model-based Fair Value estimate is A$9.96, 37% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of A$26.24 per share, and 3 of the 12 models we run sit above the A$15.84 price.
Bear case: the Multiples group reads lowest at A$5.38, and 9 of the 12 models stay below the price. Data coverage for this calculation is medium.
Scenario range: A$5.51 (bear) to A$18.34 (bull), the price of A$15.84 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Pinnacle Investment Management Group Ltd reported revenue of A$95.2M in FY2026 versus A$42.1M in FY2022, a compound +22.6%/yr. Reported net income was A$177M in FY2026, compounding +23.3%/yr from FY2022.
Key figures
Market cap A$3.6B (≈ $2.5B) Mid · P/E ratio 20.4 · P/S ratio 37.9 · EPS (TTM) A$0.7750 · Dividend yield 3.8% · Return on equity 17.0% · Return on assets (EBIT) 3.7% (5-year average) · Operating margin 26.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at −37%, PNI screens richer than that median.
Fair Value models
BearA$5.51Fair Value A$9.96BullA$18.34
Price A$15.84 · Downside -37.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 4 months old). Earnings retained since then (A$0.0646 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+25.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+20.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.0%
Start year 2021 (pandemic). Over 10 years: +41.0% a year
Revenue growth 30 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−10.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
≈ +32.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+28.3%
Dividend (yield on the price)3.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.16.2% vs 28.8%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 14%
Pace: the 5-year rate starts in 2021 (pandemic)
⚠ Rate on operating basis: 2026 sits 70% above its own trend.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+22.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Australia: IMF forecast 3.0% a year to 2030, 2.9% from 2016 to 2025) that is about +18.5% a year for the price.
AI conclusion: Pinnacle has scaled funds under management strongly through its affiliate platform, yet its earnings remain exposed to valuation revisions and trading halts at a key credit manager.
Main risk: Ongoing audit delays and NTA revisions at Metrics Credit Partners threaten fee income and inflows tied to the credit platform.
Pinnacle's platform has scaled FUM strongly through its affiliates, but its roughly 35 percent stake in Metrics Credit Partners now carries direct exposure to recent NTA revisions of up to 12 percent and ongoing audit delays that froze trading in several listed private credit funds. Inflows have also moderated below prior averages as the business matures. Does the earnings contribution from global expansion and new affiliates outweigh the valuation and flow risks tied to this key credit manager?
Compare Pinnacle Investment Management Group Ltd with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 588 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside−37.1% · Bottom 25%
Profitability
Return on equity (12 months)17.0% · Above median
Return on assets11.9% · Top 25%
Net margin (12 months)161.1% · Top 25%
Operating margin (12 months)26.7% · Below median
Growth and dividend
Revenue growth (quarter YoY)68.2% · Top 25%
Dividend yield (12 months)3.8% · Below median
Balance sheet
Debt / equity0.23× · Above median
Valuation Multiplesvs Asset Management median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Pinnacle Investment Management Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/PNI
Frequently asked questions
Is Pinnacle Investment Management Group Ltd (PNI) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of A$9.96 versus a price of A$15.84, about 37% lower (overvalued).
What is the fair value of PNI?
Our model-based fair value for Pinnacle Investment Management Group Ltd is A$9.96 (as of Nov 6, 2026), built from audited fundamentals. The current price: A$15.84.
What is the quality score of PNI?
Pinnacle Investment Management Group Ltd has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Pinnacle Investment Management Group Ltd (PNI)?
Our model-based price target is the fair value of A$9.96 (as of Nov 6, 2026) from 12 valuation models. Cautious scenario A$5.51, optimistic scenario A$18.34. It is a calculation from audited fundamentals, not an analyst target.
What is the Pinnacle Investment Management Group Ltd stock forecast for 2026?
Our models put fair value at A$9.96, about 37% lower versus a price of A$15.84 (overvalued). Cautious scenario A$5.51, optimistic scenario A$18.34. The calculation is refreshed regularly with new filings.
What is the revenue of Pinnacle Investment Management Group Ltd (PNI)?
Pinnacle Investment Management Group Ltd reported trailing-twelve-month revenue of about A$110M (latest available figure, as of Nov 6, 2026).
Does Pinnacle Investment Management Group Ltd pay a dividend?
Pinnacle Investment Management Group Ltd currently shows a dividend yield of 3.79% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Pinnacle Investment Management Group Ltd (PNI) and when is the ex-dividend date?
Pinnacle Investment Management Group Ltd pays a dividend of A$0.6 per share a year, a dividend yield of 3.8%. The last ex-dividend date was Aug 31, 2026. A dividend has been paid every year since 2014. The payout ratio is 103% of earnings (on adjusted earnings, reported 76.9%). Free cash flow covers the dividend 0.73 times. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What growth is priced into Pinnacle Investment Management Group Ltd (PNI)?
For today's price to be fair in a discounted-cash-flow model, Pinnacle Investment Management Group Ltd would have to grow free cash flow by +22.0 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +24.1 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of PNI use?
Our models discount Pinnacle Investment Management Group Ltd at 10.3 %: a base by market capitalisation (mid), damped by beta 1.35, country premium for Australia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Pinnacle Investment Management Group Ltd that is +22.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Pinnacle Investment Management Group Ltd (PNI) delivered so far?
Over the past 5 years revenue at Pinnacle Investment Management Group Ltd grew +24.1 % a year. The price currently implies free-cash-flow growth of +22.0 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Pinnacle Investment Management Group Ltd (PNI) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Pinnacle Investment Management Group Ltd (+22.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Pinnacle Investment Management Group Ltd (PNI)?
The free-cash-flow yield on the price is 2.96 %: that much free cash flow Pinnacle Investment Management Group Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Pinnacle Investment Management Group Ltd (PNI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Pinnacle Investment Management Group Ltd it is A$9.96 per share (as of Nov 6, 2026), against a price of A$15.84. It is the blended result of 12 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Pinnacle Investment Management Group Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, PNI trades above its calculated fair value: price A$15.84, fair value A$9.96, a gap of about −37% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PNI?
No. The price is what the market pays today (A$15.84); the fair value is what the company's own numbers justify (A$9.96). For Pinnacle Investment Management Group Ltd the two are A$5.88 per share apart. That gap is exactly why we show both numbers side by side.
How much is Pinnacle Investment Management Group Ltd worth?
The market values Pinnacle Investment Management Group Ltd at about A$3.6B (market capitalisation, as of Nov 6, 2026). Per share that is A$15.84; our models calculate a fair value of A$9.96 per share.
What do the bullish and bearish scenarios say about PNI?
Our models span a range for Pinnacle Investment Management Group Ltd: cautious scenario A$5.51, base A$9.96, optimistic A$18.34 per share (as of Nov 6, 2026, price A$15.84). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PNI?
Pinnacle Investment Management Group Ltd trades at a price-to-earnings ratio of 20.4 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$9.96 is built from several models across several years. Excluding one-off items of fiscal year 2026 it is 27.5 (reported 20.4). Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings, FY2026 ex one-offs: 30.4. Other multiples: PEG 0.3, P/B 3.1, P/S 32.9.
What is the PEG ratio of PNI?
The PEG ratio of Pinnacle Investment Management Group Ltd is 0.32 (P/E divided by earnings growth, as of Nov 6, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Pinnacle Investment Management Group Ltd (PNI)?
Balance-sheet figures for Pinnacle Investment Management Group Ltd (as of Nov 6, 2026): return on equity 17.0%, debt of 0.23 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is PNI from its 52-week high?
Pinnacle Investment Management Group Ltd trades at A$15.84, about 16% below its 52-week high of A$18.91 and 27% above the low of A$12.49 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of A$9.96 is for.
Which stocks are comparable to Pinnacle Investment Management Group Ltd?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Asset Management Ltd, KKR & Co, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Pinnacle Investment Management Group Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price A$15.84, calculated fair value A$9.96 (−37%), Quality Score 53/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PNI calculated?
We run Pinnacle Investment Management Group Ltd through 12 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of A$9.96 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Pinnacle Investment Management Group Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Pinnacle Investment Management Group Ltd (PNI)?
The closing price on Nov 6, 2026 was A$15.84. Our model-based fair value is A$9.96, about 37% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Pinnacle Investment Management Group Ltd right now?
The model range is unusually wide (A$5.51 to A$18.34). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Pinnacle Investment Management Group Ltd
How large is the market capitalisation of Pinnacle Investment Management Group Ltd (PNI)?
The market capitalisation of Pinnacle Investment Management Group Ltd is A$3.6B (≈ $2.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Pinnacle Investment Management Group Ltd (PNI)?
The price-to-sales ratio of Pinnacle Investment Management Group Ltd is 37.9 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Pinnacle Investment Management Group Ltd (PNI)?
Earnings per share at Pinnacle Investment Management Group Ltd are A$0.7750 (price ÷ EPS = P/E 20.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Pinnacle Investment Management Group Ltd (PNI)?
The dividend yield of Pinnacle Investment Management Group Ltd is 3.8% (payout 103%, on adjusted earnings, reported 76.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the return on equity of Pinnacle Investment Management Group Ltd (PNI)?
The return on equity (ROE) of Pinnacle Investment Management Group Ltd is 17.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Pinnacle Investment Management Group Ltd (PNI)?
On an EBIT basis the return on assets of Pinnacle Investment Management Group Ltd is 3.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Pinnacle Investment Management Group Ltd (PNI)?
The operating margin of Pinnacle Investment Management Group Ltd is 26.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Pinnacle Investment Management Group Ltd (PNI)?
Revenue at Pinnacle Investment Management Group Ltd is growing +68.2% versus a year earlier (3y avg +20.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Pinnacle Investment Management Group Ltd (PNI)?
Earnings per share at Pinnacle Investment Management Group Ltd are growing +82.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Pinnacle Investment Management Group Ltd (PNI) carry?
The net debt of Pinnacle Investment Management Group Ltd is A$181M (fiscal year 2026, ≈ 1.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 6, 2026