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Thorney Opportunities Ltd (TOP) Fair Value & Analysis

Financial Services · AU · Market cap A$89.2M

TO Thorney Opportunities Ltd TOP · AU
PriceA$0.5450
Fair ValueA$0.8600
Upside+57.8%
Quality95/100
Evidence: High Range A$0.6500 – A$1.08

Fair value as of: Jun 26, 2026

From 23 valuation models · updated 3 days ago

Price vs Fair Value (12 months)

A$0.7014 A$0.5046 Fair Value A$0.8600 Jun 2025 Jun 2026

12‑month range A$0.5046 – A$0.7014 · fair‑value band A$0.6500 – A$1.08 · the A$0.5450 price screens below the A$0.8600 fair value. As of Jun 26, 2026.

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Analysis

Thorney Opportunities Ltd (TOP) currently trades at A$0.5450, while our model-based Fair Value estimate is A$0.8600 — implying the stock looks roughly 57.8% undervalued today. We read business quality at 95/100 (high quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high) — always confirm before acting.

Over the trailing twelve months, Thorney Opportunities Ltd generated revenue of A$29.3M at a net margin of 55.2%. It earns a return on equity of 10.3%. The balance sheet holds a net cash position of A$32.8M. The stock trades on a trailing P/E of 5.9. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) A$29.3M
Revenue growth (YoY) +360%
Net margin 55.2%
Return on equity 10.3%
Free cash flow A$18.8M FY2025
P/E ratio 5.9
More key figures
Operating margin 71.5%
EPS (TTM) A$0.0900
Dividend yield 5.1%
EPS growth (YoY) -50.4%
Net cash A$32.8M FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

Thorney Opportunities Ltd is an equity fund launched and managed by Thorney Management Services Pty Ltd. The fund invests in the public equity markets of Australia. It seeks to invest in stocks of companies operating across diversified sectors. Thorney Opportunities Ltd is domiciled in Australia.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Thorney Opportunities Ltd reported revenue of A$17.5M in FY2025 versus A$33.0M in FY2021, a compound −14.6%/yr. Reported net income was A$8.5M in FY2025, compounding −21.5%/yr from FY2021.

Revenue −14.6%/yr
FY21 A$33.0M
FY22 −A$3.0M
FY23 A$13.2M
FY24 A$57.5M
FY25 A$17.5M
Net income −21.5%/yr
FY21 A$22.5M
FY22 −A$3.7M
FY23 A$10.9M
FY24 A$35.0M
FY25 A$8.5M

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Frequently asked questions

Is Thorney Opportunities Ltd (TOP) undervalued?
As of Jun 26, 2026, our model estimates a fair value of A$0.8600 versus a price of A$0.5450 — about +58% (undervalued). Model-based estimate, not financial advice.
What is the fair value of TOP?
Our 21-model fair value for Thorney Opportunities Ltd is A$0.8600 (as of Jun 26, 2026), built from audited fundamentals. The current price is A$0.5450.
What is the quality score of TOP?
Thorney Opportunities Ltd has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Thorney Opportunities Ltd (TOP)?
Thorney Opportunities Ltd reported trailing-twelve-month revenue of about A$29.3M (latest available figure, as of Jun 26, 2026).
What is the net profit margin of TOP?
The net profit margin of Thorney Opportunities Ltd is about 55.2%, meaning it keeps roughly 55.2% of revenue as net income. Based on the latest reported figures.
Does Thorney Opportunities Ltd pay a dividend?
Thorney Opportunities Ltd currently shows a dividend yield of about 5.09% relative to its recent price (as of Jun 26, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.