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K2 Asset Management Holdings (KAM) Fair Value & Analysis

Financial Services · AU · Market cap A$14.2M

KA K2 Asset Management Holdings KAM · AU
PriceA$0.0520
Fair ValueA$0.0360
Upside-30.8%
Quality66/100
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Weak Growth
Loss-making · -0.2% net margin
generates free cash flow
8.47% dividend yield
Trails peers (4/12)
Narrow moat 22/100
Evidence: High Range A$0.0360 – A$0.0419 Share as image

Fair value as of: Jul 16, 2026

From 2 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from A$0.0355 to A$0.0360 (+1.4%) since Jun 26, 2026. Share price −13.3% over the past month.

A solid business, but screening 31% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (A$0.0419). The favourable scenario is already priced in.
  • Solid but not exceptional quality (66/100) 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.
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Price vs Fair Value (5 years)

A$0.0950 A$0.0282 Fair Value A$0.0360 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range A$0.0282 – A$0.0950 · fair‑value band A$0.0360 – A$0.0419 · the A$0.0520 price screens above the A$0.0360 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

K2 Asset Management Holdings (KAM) currently trades at A$0.0520, while our model-based Fair Value estimate is A$0.0360, implying the stock looks roughly 30.8% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, K2 Asset Management Holdings generated revenue of A$6.4M at a net margin of -0.2%. Revenue grew 8.7% year over year. It earns a return on equity of -0.1%. The balance sheet holds a net cash position of A$7.6M. Fundamentals as of Jul 16, 2026

Our scenario range runs from A$0.0360 (bear case) to A$0.0419 (bull case); at A$0.0520, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 45% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at -31%, KAM screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
P/B Multiple A$0.0200 A$0.0300 A$0.0400 55
NCAV (Graham) A$0.0200 A$0.0200 A$0.0300 50
All 2 models by family
Multiples
P/B Multiple A$0.0200 A$0.0300 A$0.0400 55
Asset-Based
NCAV (Graham) A$0.0200 A$0.0200 A$0.0300 50

Widest divergence: Multiples (A$0.0300) versus Asset-Based (A$0.0200). Highest evidence: P/B Multiple (55).

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Key figures & financial health

Revenue (TTM) A$6.4M
Revenue growth (YoY) +8.7%
Net margin -0.2%
Return on equity -0.1%
Free cash flow A$194K FY2025
Operating margin -10.5%
More key figures
Dividend yield 8.9%
Net cash A$7.6M FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 67 · Market factors (momentum, volatility) 23

Profitability 33
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 8
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

K2 Asset Management Holdings Ltd. is a publicly owned investment manager. The firm provides its services to retail, wholesale and institutional investors. It manages equity mutual funds for its clients. The firm invests in the public equity markets across the globe. K2 employs a top-down approach along with bottom-up stock picking approach.

Full company description

K2 Asset Management Holdings Ltd. is a publicly owned investment manager. The firm provides its services to retail, wholesale and institutional investors. It manages equity mutual funds for its clients. The firm invests in the public equity markets across the globe. K2 employs a top-down approach along with bottom-up stock picking approach. It conducts in-house research to make its investments. K2 Asset Management Holdings was founded in July 1999 and is based in Melbourne, Australia with additional office in Cottesloe, Australia, Sydney, Australia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

K2 Asset Management Holdings reported revenue of A$356K in FY2025 versus A$4.5M in FY2021, a compound −46.9%/yr. Reported net income was A$345K in FY2025, compounding +12.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
A$356K
Latest YoY
−93.2%
Avg. growth/yr (3Y) 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.
−44.8%
Avg. growth/yr (5Y) 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.
−35.3%
Avg. growth/yr (21Y) 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.
−14.2%
Revenue −46.9%/yr
FY21 A$4.5M
FY22 A$2.1M
FY23 A$2.0M
FY24 A$5.3M
FY25 A$356K
Net income +12.4%/yr
FY21 A$216K
FY22 −A$2.4M
FY23 −A$1.9M
FY24 −A$636K
FY25 A$345K

KAM screens 31% overvalued. Compare with Fondul Proprietatea SA →

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Cite: Fair Value Calculator (2026). "K2 Asset Management Holdings Fair Value". https://www.fairvalue-calculator.com/stock/KAM

Peer Group

Asset Management · 971 stocks

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.

Quality Score 66 · Above median
Fair Value upside −23% · Below median
Return on assets 0% · Below median
Net margin (TTM) -0% · Bottom 25%
Operating margin (TTM) -11% · Bottom 25%
Revenue growth 9% · Above median
Dividend yield (TTM) 8.5% · Top 25%

Valuation Multiples vs Asset Management median · lower = cheaper

P/B 1.19× · Pricier than median
P/S (TTM) 1.57× · Cheaper than 75% of peers
P/FCF 51.7× · Pricier than 75% of peers
EV/EBITDA 14.5× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 3 · sector 37
FUTURE 44 · sector 6
PAST 0 · sector 26
HEALTH 0 · sector 95
DIVIDEND 100 · sector 69

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Fondul Proprietatea SA FP $0.0420 $0.0800 +90%
BlackRock, Inc BLK $1,136 $465.75 -59%
Blackstone Inc BX $124.56 $16.35 -87%
Investor AB INVEB kr 423.70 kr 847.40 +100%
Brookfield Corporation BN C$62.45 C$10.12 -84%
KKR & Co KKR $100.94 $44.88 -56%
AB Industrivärden INDUA kr 532.50 kr 1,065 +100%
Jio Financial Services Limited JIOFIN ₹242.98 ₹40.19 -83%
Hedef Holding HEDEF 267.25 TRY 320.98 TRY +20%
Bajaj Holdings BAJAJHLDNG ₹10,398 ₹9,202 -12%

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Frequently asked questions

Is K2 Asset Management Holdings (KAM) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of A$0.0360 versus a price of A$0.0520, about −31% (overvalued).
What is the fair value of KAM?
Our model-based fair value for K2 Asset Management Holdings is A$0.0360 (as of Jul 16, 2026), built from audited fundamentals. The current price is A$0.0520.
What is the quality score of KAM?
K2 Asset Management Holdings has a Quality Score of 66/100. 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 revenue of K2 Asset Management Holdings (KAM)?
K2 Asset Management Holdings reported trailing-twelve-month revenue of about A$6.4M (latest available figure, as of Jul 16, 2026).
What is the net profit margin of KAM?
The net profit margin of K2 Asset Management Holdings is about -0.2%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does K2 Asset Management Holdings pay a dividend?
K2 Asset Management Holdings currently shows a dividend yield of about 8.93% relative to its recent price (as of Jul 16, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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