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MA Financial Group Ltd (MAF) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of MA Financial Group Ltd stock A$2.47, price A$5.00, that is 50.6% below the price, quality 42 out of 100. Rating: strongly overvalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services AU · ISIN AU0000156218

MF MA Financial Group Ltd logo Broad data Nov 7, 2026

MA Financial Group Ltd

MAF · AU
Very expensive, weak quality

Our calculation puts a fair price 51% below what the stock costs today.

Broad data
Last quarter vs. a year ago: revenue +21%, profit +104%.
Quality 42/100
Mixed Growth (revenue 5y +59.0 %/yr in AUD)
Thin margins · 1.2% net margin (TTM)
4.4% dividend yield · Payout strained
Fair value A$2.47 · Strongly overvalued (−50.6%)
Trails peers (5/15)
Narrow moat 32/100 · thin data
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

A$11.16 A$3.24 Fair Value A$2.47 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range A$3.24 – A$11.16 · fair‑value band A$1.36 – A$3.47 · the A$5.00 price screens above the A$2.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.

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Company profile

MA Financial Group Limited, together with its subsidiaries, provides various financial services in Australia. It operates through Asset Management, Lending & Technology, and Corporate Advisory & Equities segments.

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The company operates as an asset manager specializing in private credit, real estate, and private equity and venture capital; and manages traditional asset classes, including equities, bonds, and cash for wholesale, retail, and institutional investors.

It also offers lending platforms for the provision of loan funding, real estate mortgages, and financial technology comprising mortgage aggregation services.

In addition, the company provides financial advice for mergers and acquisitions and strategic advisory, equity and debt capital markets, capital structure advisory, and equities research and trading; and corporate advice, underwriting, and institutional stockbroking services, as well as specialised services in real estate, credit and restructuring, resources technology, and small to mid-cap industrial companies.

MA Financial Group Limited was founded in 2009 and is headquartered in Sydney, Australia.

Stock analysis

MA Financial Group Ltd (MAF) currently trades at A$5.00, while our model-based Fair Value estimate is A$2.47, 51% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of A$11.96 per share, and 4 of the 12 models we run sit above the A$5.00 price.

Bear case: the Asset-Based group reads lowest at A$0.7800, and 8 of the 12 models stay below the price. Data coverage for this calculation is high.

Scenario range: A$1.36 (bear) to A$3.47 (bull), the price of A$5.00 sits above 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 42/100 (below-average quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

MA Financial Group Ltd reported revenue of A$1.8B in FY2025 versus A$242M in FY2021, a compound +64.9%/yr. Reported net income was A$10.4M in FY2025, compounding −24.5%/yr from FY2021.

Key figures

Market cap A$943M (≈ $648M) Small · P/E ratio 45.5 · P/S ratio 0.58 · EPS (TTM) A$0.1100 · Dividend yield 4.4% · Net margin 1.2% · Return on equity 4.8% · Return on assets (EBIT) 8.1% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 55% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at −51%, MAF screens richer than that median.

Fair Value models

Bear A$1.36 Fair Value A$2.47 Bull A$3.47
Price A$5.00 · Downside -50.6%
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. 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.
Best data coverage
Residual Income A$1.36 A$1.40 A$1.49 74
Owner Earnings n/a A$14.08 A$52.78 71
Growth DCF A$12.59 A$39.38 A$81.21 70
All 12 models by family
DCF Models
Owner Earnings n/a A$14.08 A$52.78 71
10Y P/E Exit n/a A$9.84 A$26.03 59
Earnings-Based
Graham-Dodd A$0.3500 A$2.47 A$3.47 61
Lynch FV A$1.28 A$1.82 A$2.37 59
Dividend Discount
Gordon GGM A$1.28 A$2.14 A$2.77 66
DDM Multi-Stage A$1.28 A$2.03 A$2.30 65
Multiples
P/E Multiple A$0.5100 A$0.6800 A$0.8500 63
P/B Multiple A$1.23 A$1.64 A$2.05 55
Asset-Based
NCAV (Graham) A$0.5900 A$0.7800 A$1.17 54
Growth DCF
Growth DCF A$12.59 A$39.38 A$81.21 70
Rev-Margin DCF n/a A$11.17 A$42.80 67
Economic Profit
Residual Income A$1.36 A$1.40 A$1.49 74

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Quality Score breakdown

Overall quality 42/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 14
How much profit the company makes from its sales and capital
Quality Growth 69
Are margins and returns getting better?
Cashflow 91
Do the profits arrive as real cash?
Financial strength 12
Debt, balance sheet and risk of trouble
Investment 60
Does it invest with discipline instead of growing at any price?
Low Volatility 19
How calm the share price moves, does not count
Price momentum 11
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 4
Distance to the 52-week high, does not count
New shares 21
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+48.0%
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.
+32.0%
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.
+59.0%
Start year 2020 (pandemic). Over 10 years: +43.5% a year
Revenue growth 19 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.
+40.4%
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.
−14.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−18.5%
Dividend (yield on the price)4.4%
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.−18.5% vs −7.7%, slowing
Profit margin 2020 to 2025 ⓘ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.33% → 28%
Pace: the 5-year rate starts in 2020 (pandemic)

MAF screens overvalued: fair value 51% below the price. Compare with Blackstone Inc →

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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 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Bottom 25%
Fair Value upside −50.6% · Bottom 25%
Profitability
Return on equity (12 months) 4.8% · Below median
Return on assets 0.1% · Bottom 25%
Net margin (12 months) 1.2% · Bottom 25%
Operating margin (12 months) 5.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 20.5% · Above median
Dividend yield (12 months) 4.4% · Above median
Balance sheet
Debt / equity 14.41× · Highest 25%

Valuation Multiplesvs Asset Management median · lower = cheaper

P/E (12 months) 45.5× · Priciest 25%
P/B 2.04× · Priciest 25%
P/S (12 months) 0.58× · Cheapest 25%
Price / free cash flow (fiscal year) 2.5× · Cheapest 25%
EV/EBITDA 14.1× · Pricier than median
PEG 0.44× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 60
FUTURE (revenue growth)100 · sector 39
PAST (return on equity)19 · sector 29
HEALTH (low debt)–
DIVIDEND (yield)88 · sector 80

VALUE 0: the price sits above our fair-value range.

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Exor N.V EXO €73.35 €139.37 +90% vs MAF
Raymond James Financial, Inc RJF $162.81 $281.42 +73% vs MAF
Apollo Global Management, Inc APO $116.75 $197.52 +69% vs MAF
Ameriprise Financial, Inc AMP $501.49 $609.56 +22% vs MAF
State Street Corporation STT $165.56 $139.37 −16% vs MAF
Ares Management Corporation ARES $133.98 $99.35 −26% vs MAF
Northern Trust Corporation NTRS $172.76 $123.42 −29% vs MAF
Brookfield Asset Management Ltd BAM $52.95 $31.26 −41% vs MAF
Blackstone Inc BX $119.50 $52.29 −56% vs MAF
KKR & Co KKR $96.48 $27.32 −72% vs MAF

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Cite: Fair Value Calculator (2026). "MA Financial Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/MAF

Frequently asked questions

Is MA Financial Group Ltd (MAF) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of A$2.47 versus a price of A$5.00, about 51% lower (overvalued).
What is the fair value of MAF?
Our model-based fair value for MA Financial Group Ltd is A$2.47 (as of Nov 7, 2026), built from audited fundamentals. The current price: A$5.00.
What is the quality score of MAF?
MA Financial Group Ltd has a Quality Score of 42/100. 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 MA Financial Group Ltd (MAF)?
Our model-based price target is the fair value of A$2.47 (as of Nov 7, 2026) from 12 valuation models. Cautious scenario A$1.36, optimistic scenario A$3.47. It is a calculation from audited fundamentals, not an analyst target.
What is the MA Financial Group Ltd stock forecast for 2026?
Our models put fair value at A$2.47, about 51% lower versus a price of A$5.00 (overvalued). Cautious scenario A$1.36, optimistic scenario A$3.47. The calculation is refreshed regularly with new filings.
What is the revenue of MA Financial Group Ltd (MAF)?
MA Financial Group Ltd reported trailing-twelve-month revenue of about A$1.6B (latest available figure, as of Nov 7, 2026).
Does MA Financial Group Ltd pay a dividend?
MA Financial Group Ltd currently shows a dividend yield of 4.40% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of MA Financial Group Ltd (MAF) and when is the ex-dividend date?
MA Financial Group Ltd pays a dividend of A$0.22 per share a year, a dividend yield of 4.4%. The last ex-dividend date was Aug 25, 2026. A dividend has been paid every year since at least 2018. The payout ratio is 200% of earnings. Our assessment: Payout strained. The dividend exceeds reported earnings (though reported profit is often depressed by one-off charges), and free cash flow only just covers it (or coverage is unknown). Not an emergency, but little room for error.
What is the intrinsic value of MA Financial Group Ltd (MAF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MA Financial Group Ltd it is A$2.47 per share (as of Nov 7, 2026), against a price of A$5.00. 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 MA Financial Group Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, MAF trades above its calculated fair value: price A$5.00, fair value A$2.47, a gap of about −51% (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 MAF?
No. The price is what the market pays today (A$5.00); the fair value is what the company's own numbers justify (A$2.47). For MA Financial Group Ltd the two are A$2.53 per share apart. That gap is exactly why we show both numbers side by side.
How much is MA Financial Group Ltd worth?
The market values MA Financial Group Ltd at about A$943M (market capitalisation, as of Nov 7, 2026). Per share that is A$5.00; our models calculate a fair value of A$2.47 per share.
What do the bullish and bearish scenarios say about MAF?
Our models span a range for MA Financial Group Ltd: cautious scenario A$1.36, base A$2.47, optimistic A$3.47 per share (as of Nov 7, 2026, price A$5.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MAF?
MA Financial Group Ltd trades at a price-to-earnings ratio of 45.5 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$2.47 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 29.5. Other multiples: PEG 0.4, P/B 2.0, P/S 0.6, EV/EBITDA 14.1.
What is the PEG ratio of MAF?
The PEG ratio of MA Financial Group Ltd is 0.44 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of MA Financial Group Ltd (MAF)?
Balance-sheet figures for MA Financial Group Ltd (as of Nov 7, 2026): return on equity 4.8%, debt of 14.41 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is MAF from its 52-week high?
MA Financial Group Ltd trades at A$5.00, about 55% below its 52-week high of A$11.16 and 13% above the low of A$4.42 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of A$2.47 is for.
Which stocks are comparable to MA Financial 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 MA Financial Group Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price A$5.00, calculated fair value A$2.47 (−51%), Quality Score 42/100, 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 MAF calculated?
We run MA Financial 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$2.47 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. MA Financial 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 MA Financial Group Ltd (MAF)?
The closing price on Nov 6, 2026 was A$5.00. Our model-based fair value is A$2.47, about 51% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MA Financial Group Ltd right now?
The price sits above even our optimistic bull case (A$3.47). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (A$1.36 to A$3.47) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of MA Financial Group Ltd (MAF) come from?
Earnings per share at MA Financial Group Ltd grew +4.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +25.2 %, EBIT margin +7.0 %, tax rate −0.9 %, residual (interest, one-offs) −21.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of MA Financial Group Ltd

How large is the market capitalisation of MA Financial Group Ltd (MAF)?
The market capitalisation of MA Financial Group Ltd is A$943M (≈ $648M). 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 MA Financial Group Ltd (MAF)?
The price-to-sales ratio of MA Financial Group Ltd is 0.58 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of MA Financial Group Ltd (MAF)?
Earnings per share at MA Financial Group Ltd are A$0.1100 (price ÷ EPS = P/E 45.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of MA Financial Group Ltd (MAF)?
The dividend yield of MA Financial Group Ltd is 4.4% (payout 200%). 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 net margin of MA Financial Group Ltd (MAF)?
The net margin of MA Financial Group Ltd is 1.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of MA Financial Group Ltd (MAF)?
The return on equity (ROE) of MA Financial Group Ltd is 4.8% (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 MA Financial Group Ltd (MAF)?
On an EBIT basis the return on assets of MA Financial Group Ltd is 8.1% (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 MA Financial Group Ltd (MAF)?
The operating margin of MA Financial Group Ltd is 5.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MA Financial Group Ltd (MAF)?
Revenue at MA Financial Group Ltd is growing +20.5% versus a year earlier (3y avg +32.0%). 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 MA Financial Group Ltd (MAF)?
Earnings per share at MA Financial Group Ltd are growing +104% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does MA Financial Group Ltd (MAF) generate?
The free cash flow of MA Financial Group Ltd is A$380M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does MA Financial Group Ltd (MAF) carry?
The net debt of MA Financial Group Ltd is A$8.5B (fiscal year 2025, ≈ 22.3 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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