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Microequities Asset Management Group (MAM) Fair Value & Analysis

Financial Services · AU · Market cap A$57.2M

MA Microequities Asset Management Group MAM · AU
PriceA$0.4550
Fair ValueA$0.2500
Upside-45.1%
Quality85/100
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Healthy Growth
Highly profitable · 56.5% net margin
Low debt · generates free cash flow
9.66% dividend yield
Ranks above peers (11/14)
Wide moat 91/100
Evidence: High Range A$0.1900 – A$0.3100 Share as image

Fair value as of: Jul 18, 2026

From 12 valuation models · updated 23 days ago

Share price +7.1% over the past month.

A strong business, but screening 45% overvalued on our models.

What matters now

  • A high-quality business (quality 85/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (A$0.3100). The favourable scenario is already priced in.
  • 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$0.7178 A$0.3900 Fair Value A$0.2500 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range A$0.3900 – A$0.7178 · fair‑value band A$0.1900 – A$0.3100 · the A$0.4550 price screens above the A$0.2500 fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Microequities Asset Management Group (MAM) currently trades at A$0.4550, while our model-based Fair Value estimate is A$0.2500, implying the stock looks roughly 45.1% overvalued today. The Quality Score stands at 85/100 (high 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, Microequities Asset Management Group generated revenue of A$16.1M at a net margin of 56.5%. Revenue grew 7.0% year over year. It earns a return on equity of 36.9%. The balance sheet holds a net cash position of A$1.3M. Fundamentals as of Jul 18, 2026

Our scenario range runs from A$0.1900 (bear case) to A$0.3100 (bull case); at A$0.4550, 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 24% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at -45%, MAM 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
Growth DCF A$0.6800 A$1.06 A$1.60 80
Residual Income A$0.2600 A$0.3100 A$0.7300 76
Rev-Margin DCF A$0.3800 A$0.5300 A$0.7200 74
All 12 models by family
DCF Models
5Y P/E Exit A$0.5800 A$0.9700 A$1.42 38
10Y P/E Exit A$0.6100 A$0.9600 A$1.45 35
Earnings-Based
Graham-Dodd A$0.3700 A$1.94 A$2.69 54
Lynch FV A$0.5300 A$0.7600 A$0.9900 50
Dividend Discount
Gordon GGM A$0.3500 A$0.5900 A$0.7600 70
DDM Multi-Stage A$0.3500 A$0.5600 A$0.6300 61
Multiples
P/E Multiple A$0.5300 A$0.7100 A$0.8800 63
P/B Multiple A$0.1900 A$0.2500 A$0.3100 55
Asset-Based
NCAV (Graham) A$0.0900 A$0.1200 A$0.1800 50
Growth DCF
Growth DCF A$0.6800 A$1.06 A$1.60 80
Rev-Margin DCF A$0.3800 A$0.5300 A$0.7200 74
Economic Profit
Residual Income A$0.2600 A$0.3100 A$0.7300 76

Widest divergence: DCF Models (A$0.9600) versus Asset-Based (A$0.1200). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) A$16.1M
Revenue growth (YoY) +7.0%
Net margin 56.5%
Return on equity 36.9%
Free cash flow A$9.1M FY2025
P/E ratio 6.2
More key figures
Operating margin 86.9%
EPS (TTM) A$0.0700
Dividend yield 9.7%
EPS growth (YoY) +42.0%
Net cash A$1.3M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 85/100

Of which business quality 83 · Market factors (momentum, volatility) 38

Profitability 84
Margins and returns on capital today
Quality Growth 86
Are margins and returns improving?
Cashflow 88
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 78
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

Microequities Asset Management Group Limited provides investment fund management in Australia. It offers deep value, global value microcap, pure microcap, high income microcap, private to beyond the IPO, value earth, and value income funds. The company was formerly known as Microequities Ltd.

Full company description

Microequities Asset Management Group Limited provides investment fund management in Australia. It offers deep value, global value microcap, pure microcap, high income microcap, private to beyond the IPO, value earth, and value income funds. The company was formerly known as Microequities Ltd. and changed its name to Microequities Asset Management Group Limited in March 2018. Microequities Asset Management Group Limited was incorporated in 2004 and is based in Sydney, Australia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Microequities Asset Management Group reported revenue of A$15.1M in FY2025 versus A$20.5M in FY2021, a compound −7.4%/yr. Reported net income was A$7.1M in FY2025, compounding −15.5%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
A$15.1M
Latest YoY
+17.1%
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.
−15.8%
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.
+14.5%
Avg. growth/yr (11Y) 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.
+19.0%
Revenue −7.4%/yr
FY21 A$20.5M
FY22 A$25.3M
FY23 A$11.7M
FY24 A$12.9M
FY25 A$15.1M
Net income −15.5%/yr
FY21 A$14.0M
FY22 A$14.1M
FY23 A$5.7M
FY24 A$6.0M
FY25 A$7.1M
Character of growth · EPS growth decomposed (2014-2025) +10.0 % p.a.
Revenue per share +12.0 pp

of which total revenue +12.2 pp · buybacks/dilution −0.2 pp

EBIT margin −1.0 pp
Tax rate +0.6 pp
Residual (interest, one-offs) −1.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

MAM screens 45% overvalued. Compare with Fondul Proprietatea SA →

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Cite: Fair Value Calculator (2026). "Microequities Asset Management Group Fair Value". https://www.fairvalue-calculator.com/stock/MAM

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 85 · Top 25%
Fair Value upside −45% · Below median
Return on equity (TTM) 37% · Top 25%
Return on assets 25% · Top 25%
Net margin (TTM) 57% · Above median
Operating margin (TTM) 87% · Above median
Revenue growth 7% · Above median
Dividend yield (TTM) 9.7% · Top 25%
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 6.2× · Cheaper than median
P/B 1.73× · Pricier than 75% of peers
P/S (TTM) 2.51× · Cheaper than median
P/FCF 4.4× · Cheaper than median
EV/EBITDA 3.0× · Cheaper than 75% of peers

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 0 · sector 37
FUTURE 35 · sector 6
PAST 100 · sector 26
HEALTH 94 · sector 95
DIVIDEND 100 · sector 69

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

Insider activity: 30/100

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 18, 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 Microequities Asset Management Group (MAM) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of A$0.2500 versus a price of A$0.4550, about −45% (overvalued).
What is the fair value of MAM?
Our model-based fair value for Microequities Asset Management Group is A$0.2500 (as of Jul 18, 2026), built from audited fundamentals. The current price is A$0.4550.
What is the quality score of MAM?
Microequities Asset Management Group has a Quality Score of 85/100. 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 Microequities Asset Management Group (MAM)?
Microequities Asset Management Group reported trailing-twelve-month revenue of about A$16.1M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of MAM?
The net profit margin of Microequities Asset Management Group is about 56.5%, meaning it keeps roughly 56.5% of revenue as net income. Based on the latest reported figures.
Does Microequities Asset Management Group pay a dividend?
Microequities Asset Management Group currently shows a dividend yield of about 10.49% relative to its recent price (as of Jul 18, 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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