Perpetual Equity Investment Company Ltd (PIC) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Perpetual Equity Investment Company Ltd stock A$1.09, price A$1.10, that is 0.9% below the price, quality 73 out of 100. Rating: fairly valued. 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 7, 2026.
How to read this chart
60‑month range A$0.8714 – A$1.26 · fair‑value band A$0.7700 – A$1.67 · the A$1.10 price screens above the A$1.09 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Perpetual Equity Investment Company Limited invests and manages the portfolio of listed securities. The company was incorporated in 2014 and is headquartered in Sydney, Australia.
Stock analysis
Perpetual Equity Investment Company Ltd (PIC) currently trades at A$1.10, while our model-based Fair Value estimate is A$1.09, so the stock looks roughly fairly valued today (gap 0.9%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of A$1.35 per share, and 4 of the 12 models we run sit above the A$1.10 price.
Bear case: the Economic Profit group reads lowest at A$0.7800, and 8 of the 12 models stay below the price. Data coverage for this calculation is low.
Scenario range: A$0.7700 (bear) to A$1.67 (bull), the price of A$1.10 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 73/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Perpetual Equity Investment Company Ltd reported revenue of A$54.8M in FY2026 versus A$113M in FY2022, a compound −16.6%/yr. Reported net income was A$12.1M in FY2026.
Key figures
Market cap A$424M (≈ $292M) Micro · P/E ratio 36.7 · P/S ratio 19.7 · EPS (TTM) A$0.0300 · Dividend yield 7.3% · Net margin 56.2% · Return on equity 2.6% · Return on assets (EBIT) 4.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 2% 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 −1%, PIC screens cheaper than that median.
Fair Value models
BearA$0.7700Fair Value A$1.09BullA$1.67
Price A$1.10 · Downside -0.9%
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.
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.64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+77.8%
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.
+39.3%
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.
+4.4%
Start year 2021 (pandemic). Over 10 years: +16.8% a year
Revenue growth 11 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.
+17.6%
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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.
−28.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−35.9%
Dividend (yield on the price)7.3%
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.−35.9% vs 4.4%, slowing
Profit margin 2020 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.−610% → 26%
Pace: the 5-year rate starts in 2021 (pandemic)
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).
+4.5%
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 +1.5% a year for the price.
Compare Perpetual Equity Investment Company Ltd with another stock
Price, fair value, quality and upside side by side.
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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 · 587 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside−0.9% · Below median
Profitability
Return on equity (12 months)2.6% · Below median
Return on assets2.5% · Below median
Net margin (12 months)56.2% · Above median
Operating margin (12 months)139.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)221.2% · Top 25%
Dividend yield (12 months)7.3% · Top 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (12 months)36.7× · Priciest 25%
P/B0.92× · Cheaper than median
P/S (12 months)19.71× · Priciest 25%
Price / free cash flow (fiscal year)13.9× · Pricier than median
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Cite: Fair Value Calculator (2026). "Perpetual Equity Investment Company Ltd Fair Value". https://www.fairvalue-calculator.com/stock/PIC
Frequently asked questions
Is Perpetual Equity Investment Company Ltd (PIC) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of A$1.09 versus a price of A$1.10, about 1% lower (fairly valued).
What is the fair value of PIC?
Our model-based fair value for Perpetual Equity Investment Company Ltd is A$1.09 (as of Nov 7, 2026), built from audited fundamentals. The current price: A$1.10.
What is the quality score of PIC?
Perpetual Equity Investment Company Ltd has a Quality Score of 73/100. 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 Perpetual Equity Investment Company Ltd (PIC)?
Our model-based price target is the fair value of A$1.09 (as of Nov 7, 2026) from 12 valuation models. Cautious scenario A$0.7700, optimistic scenario A$1.67. It is a calculation from audited fundamentals, not an analyst target.
What is the Perpetual Equity Investment Company Ltd stock forecast for 2026?
Our models put fair value at A$1.09, about 1% lower versus a price of A$1.10 (fairly valued). Cautious scenario A$0.7700, optimistic scenario A$1.67. The calculation is refreshed regularly with new filings.
What is the revenue of Perpetual Equity Investment Company Ltd (PIC)?
Perpetual Equity Investment Company Ltd reported trailing-twelve-month revenue of about A$21.5M (latest available figure, as of Nov 7, 2026).
Does Perpetual Equity Investment Company Ltd pay a dividend?
Perpetual Equity Investment Company Ltd currently shows a dividend yield of 7.27% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Perpetual Equity Investment Company Ltd (PIC) and when is the ex-dividend date?
Perpetual Equity Investment Company Ltd pays a dividend of A$0.08 per share a year, a dividend yield of 7.3%. The last ex-dividend date was Sep 8, 2026. A dividend has been paid every year since at least 2015. Free cash flow covers the dividend 0.99 times. 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 growth is priced into Perpetual Equity Investment Company Ltd (PIC)?
For today's price to be fair in a discounted-cash-flow model, Perpetual Equity Investment Company Ltd would have to grow free cash flow by +4.5 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.4 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of PIC use?
Our models discount Perpetual Equity Investment Company Ltd at 11.0 %: a base by market capitalisation (micro), damped by beta 0.40, 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 Perpetual Equity Investment Company Ltd that is +4.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Perpetual Equity Investment Company Ltd (PIC) delivered so far?
Over the past 5 years revenue at Perpetual Equity Investment Company Ltd grew +4.4 % a year. The price currently implies free-cash-flow growth of +4.5 % 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 Perpetual Equity Investment Company Ltd (PIC) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Perpetual Equity Investment Company Ltd (+4.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Perpetual Equity Investment Company Ltd (PIC)?
The free-cash-flow yield on the price is 7.19 %: that much free cash flow Perpetual Equity Investment Company Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Perpetual Equity Investment Company Ltd (PIC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Perpetual Equity Investment Company Ltd it is A$1.09 per share (as of Nov 7, 2026), against a price of A$1.10. 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 Perpetual Equity Investment Company Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, PIC trades above its calculated fair value: price A$1.10, fair value A$1.09, a gap of about −1% (fairly valued). 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 PIC?
No. The price is what the market pays today (A$1.10); the fair value is what the company's own numbers justify (A$1.09). For Perpetual Equity Investment Company Ltd the two are A$0.0100 per share apart. That gap is exactly why we show both numbers side by side.
How much is Perpetual Equity Investment Company Ltd worth?
The market values Perpetual Equity Investment Company Ltd at about A$424M (market capitalisation, as of Nov 7, 2026). Per share that is A$1.10; our models calculate a fair value of A$1.09 per share.
What do the bullish and bearish scenarios say about PIC?
Our models span a range for Perpetual Equity Investment Company Ltd: cautious scenario A$0.7700, base A$1.09, optimistic A$1.67 per share (as of Nov 7, 2026, price A$1.10). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PIC?
Perpetual Equity Investment Company Ltd trades at a price-to-earnings ratio of 36.7 (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$1.09 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2017 to 2026), reported earnings: 17.0. Other multiples: P/B 0.9, P/S 19.7, EV/EBITDA 28.2.
How solid is the balance sheet of Perpetual Equity Investment Company Ltd (PIC)?
Balance-sheet figures for Perpetual Equity Investment Company Ltd (as of Nov 7, 2026): return on equity 2.6%. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is PIC from its 52-week high?
Perpetual Equity Investment Company Ltd trades at A$1.10, about 13% below its 52-week high of A$1.26 and 2% above the low of A$1.08 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of A$1.09 is for.
Which stocks are comparable to Perpetual Equity Investment Company 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 Perpetual Equity Investment Company Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price A$1.10, calculated fair value A$1.09 (−1%), Quality Score 73/100, 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 PIC calculated?
We run Perpetual Equity Investment Company 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$1.09 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 13.3% above its aggregate fair value. Perpetual Equity Investment Company 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 Perpetual Equity Investment Company Ltd (PIC)?
The closing price on Nov 9, 2026 was A$1.10. Our model-based fair value is A$1.09, about 1% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Perpetual Equity Investment Company Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (A$0.7700 to A$1.67) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. 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 Perpetual Equity Investment Company Ltd (PIC) come from?
Earnings per share at Perpetual Equity Investment Company Ltd grew +2.4 % a year from 2015 to 2026. Broken into its drivers: revenue per share +5.8 %, EBIT margin −4.4 %, tax rate +1.1 %, residual (interest, one-offs) +0.0 %. 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 Perpetual Equity Investment Company Ltd
How large is the market capitalisation of Perpetual Equity Investment Company Ltd (PIC)?
The market capitalisation of Perpetual Equity Investment Company Ltd is A$424M (≈ $292M). 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 Perpetual Equity Investment Company Ltd (PIC)?
The price-to-sales ratio of Perpetual Equity Investment Company Ltd is 19.7 (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 Perpetual Equity Investment Company Ltd (PIC)?
Earnings per share at Perpetual Equity Investment Company Ltd are A$0.0300 (price ÷ EPS = P/E 36.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Perpetual Equity Investment Company Ltd (PIC)?
The dividend yield of Perpetual Equity Investment Company Ltd is 7.3%. 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 Perpetual Equity Investment Company Ltd (PIC)?
The net margin of Perpetual Equity Investment Company Ltd is 56.2% (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 Perpetual Equity Investment Company Ltd (PIC)?
The return on equity (ROE) of Perpetual Equity Investment Company Ltd is 2.6% (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 Perpetual Equity Investment Company Ltd (PIC)?
On an EBIT basis the return on assets of Perpetual Equity Investment Company Ltd is 4.6% (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 Perpetual Equity Investment Company Ltd (PIC)?
The operating margin of Perpetual Equity Investment Company Ltd is 139% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Perpetual Equity Investment Company Ltd (PIC)?
Revenue at Perpetual Equity Investment Company Ltd is growing +221% versus a year earlier (3y avg +39.3%). 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 Perpetual Equity Investment Company Ltd (PIC)?
Earnings per share at Perpetual Equity Investment Company Ltd are growing +242% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Perpetual Equity Investment Company Ltd (PIC) hold?
Perpetual Equity Investment Company Ltd holds more cash than debt, A$29.8M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 7, 2026