Wam Active Ltd (WAA) fair value: what the stock is really worth
We calculate from audited financials what Wam Active Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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Financial Services · AU · Market cap A$157M (≈ $112M) · ISIN AU000000WAA7
At a glance
WAWam Active LtdWAA · AU
PriceA$1.00
Fair ValueA$0.6500
Upside−35.0%
Quality71/100
A solid business, but trading 54% above our fair value of A$0.6500.
As of Aug 27, 2026, the fair value of Wam Active Ltd is A$0.6500 per share against a price of A$1.00, so the fair value sits 35% below the price. A model estimate from reported figures, not an analyst target.
!Mixed Growth (revenue YoY +21.3 %/yr)
✓Highly profitable · 47.5% net margin
✓generates free cash flow
·6.20% dividend yield
✓Ranks above peers (8/12)
✓Wide moat 83/100
!Evidence only low, so the estimate is less certain
Evidence: LowRange A$0.4900 to A$0.8100
Fair value as of: Aug 27, 2026
From 10 valuation models · updated 15 days ago
Share price −7.0% over the past month.
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What matters now
A high-quality business (quality 71/100), 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$0.8100). The favourable scenario is already priced in.
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.
How to read this chart
60‑month range A$0.5261 – A$1.18 · fair‑value band A$0.4900 – A$0.8100 · the A$1.00 price screens above the A$0.6500 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.
Wam Active Ltd (WAA) currently trades at A$1.00, while our model-based Fair Value estimate is A$0.6500, implying the stock looks roughly 53.8% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Financial Services sector. Bull case: the Earnings-Based group reads highest at a median of A$1.75 per share, and 3 of the 10 models we run sit above the A$1.00 price. Bear case: the Asset-Based group reads lowest at A$0.3200, and 7 of the 10 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Wam Active Ltd generated revenue of A$27.5M at a net margin of 47.5%. Revenue grew 100.4% year over year. It earns a return on equity of 17.3%. The balance sheet holds a net cash position of A$3.7M. Fundamentals as of Aug 27, 2026
Scenario range: A$0.4900 (bear) to A$0.8100 (bull), the price of A$1.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 8% below its 52-week high and 34% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −29% fair-value upside, at −35%, WAA screens richer than that median.
Fair Value models
Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (A$0.1080 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
Residual Income best evidenceA$0.3800A$0.4100A$0.460074
Growth DCFA$0.4200A$0.6600A$1.0472
Rev-Margin DCFA$0.3100A$0.4800A$0.840066
All 10 models by family
DCF Models
5Y P/E ExitA$0.4900A$1.03A$1.7763
10Y P/E ExitA$0.4700A$0.9700A$1.7656
Earnings-Based
Graham-DoddA$0.3400A$2.37A$3.3261
Lynch FVA$1.22A$1.75A$2.2759
Multiples
P/E MultipleA$0.4900A$0.6500A$0.810063
P/B MultipleA$0.5000A$0.6700A$0.840055
Asset-Based
NCAV (Graham)A$0.2400A$0.3200A$0.480051
Growth DCF
Growth DCFA$0.4200A$0.6600A$1.0472
Rev-Margin DCFA$0.3100A$0.4800A$0.840066
Economic Profit
Residual Income best evidenceA$0.3800A$0.4100A$0.460074
Widest divergence: Earnings-Based (A$1.75) versus Asset-Based (A$0.3200). Highest evidence: Residual Income (74).
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Key figures & financial health
P/E ratio5.9
P/S ratio2.62P/E × margin
EPS (TTM)A$0.1700price ÷ EPS = P/E 5.9
Dividend yield6.2%payout 36.5%
Net margin44.5%FY2025
Return on equity17.3%TTM
More key figures
Profitability
Return on assets (EBIT)5.0%avg 5y
Operating margin72.6%TTM
Growth
Revenue (TTM)A$27.5MTTM
Revenue growth (YoY)+100%
EPS growth (YoY)+104%
Balance sheet & cash flow
Free cash flowA$5.3MFY2025
Net cashA$3.7MFY2025
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality71/100
Of which business quality 67
· Market factors (momentum, volatility) 58
Profitability49
Margins and returns on capital today
Quality Growth42
Are margins and returns improving?
Cashflow79
Earnings quality: real cash, not paper profit
Fin. Strength79
Balance sheet, leverage, solvency risk
Investment75
Disciplined investing over empire-building
Low Volatility80
Calm price path (market factor)
Momentum49
Price trend over the last 3–12 months (market factor)
52W Momentum47
Distance to the 52-week high (market factor)
Net Issuance75
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
WAM Active Limited is a close-ended equity mutual fund launched and managed by MAM Pty Limited. The fund invests in public equity markets of Australia. It seeks to invest in stocks of companies that are operating across diversified sectors. The fund invests in stocks of companies across all market capitalizations.
Full company description
WAM Active Limited is a close-ended equity mutual fund launched and managed by MAM Pty Limited. The fund invests in public equity markets of Australia. It seeks to invest in stocks of companies that are operating across diversified sectors. The fund invests in stocks of companies across all market capitalizations. It also invests in bills of exchange, other negotiable investments, and debentures. The fund seeks to take advantage of opportunities created by corporate transactions and other trading and arbitrage opportunities. It benchmarks the performance of its portfolio against the S&P/ASX All Ordinaries Accumulation Index. WAM Active Limited was founded in November 13, 2007 and is domiciled in Australia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Wam Active Ltd reported revenue of A$16.7M in FY2025 versus A$12.1M in FY2021, a compound +8.3%/yr. Reported net income was A$7.4M in FY2025, compounding +4.3%/yr from FY2021.
Growth Quality 91/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
A$16.7M
Latest YoY
+21.3%
Avg. revenue growth/yr (17Y) ⓘ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.
+26.8%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+14.2%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+8.0%
Dividend yield6.2%
Trend ⓘ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.5Y 8.0% vs 10Y 0.8%, picking up
Operating margin (EBIT) ⓘ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.−42,775.6% (2020) → 64.2% (2025) · rising
Worst earnings drop239% (2022) (loss year, drop beyond 100%) · in AUD
Revenue+8.3%/yr
FY21A$12.1M
FY22−A$15.7M
FY23A$9.3M
FY24A$13.7M
FY25A$16.7M
Net income+4.3%/yr
FY21A$6.3M
FY22−A$12.0M
FY23A$5.8M
FY24A$8.3M
FY25A$7.4M
Character of growth · EPS growth decomposed (2014-2025)+3.3 % p.a.
Revenue per share+3.8 %
of which total revenue +13.5 % · buybacks/dilution −8.5 %
EBIT margin+0.8 %
Tax rate−1.1 %
Residual (interest, one-offs)−0.2 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Wam Active Ltd Fair Value". https://www.fairvalue-calculator.com/stock/WAA.AU
Peer Group
Asset Management · 657 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.
Valuation
Quality Score70 · Top 25%
Fair Value upside−38% · Bottom 25%
Profitability
Return on equity (TTM)17% · Top 25%
Return on assets14% · Top 25%
Net margin (TTM)48% · Above median
Operating margin (TTM)73% · Above median
Growth and dividend
Revenue growth100% · Top 25%
Dividend yield (TTM)6.2% · Above median
Valuation Multiples vs Asset Management median · lower = cheaper
P/E (TTM)5.9× · Cheapest 25%
P/B1.59× · Pricier than median
P/S (TTM)4.10× · Pricier than median
P/FCF21.3× · Priciest 25%
EV/EBITDA10.3× · Pricier than median
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must Wam Active Ltd deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
Implied FCF growth, 10 years-39.5 % per year
Achieved revenue growth, 5 years+460.1 % p.a.
Sector median revenue growth+8.2 %
FCF yield on price6.93 %
Discount rate (WACC) in the models11.4 %
The price demands less growth than the company recently delivered: even a weaker business would justify the price. Ranking of the largest stocks →
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.
This stockSector peers
VALUE0· sector 38
FUTURE100· sector 19
PAST69· sector 22
HEALTH0· sector 95
DIVIDEND100· sector 78
VALUE 0: the price sits above our fair-value range.
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 (as of Aug 27, 2026).
Is Wam Active Ltd (WAA) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of A$0.6500 versus a price of A$1.00, about −35% upside (overvalued).
What is the fair value of WAA?
Our model-based fair value for Wam Active Ltd is A$0.6500 (as of Aug 27, 2026), built from audited fundamentals. The current price: A$1.00.
What is the quality score of WAA?
Wam Active Ltd has a Quality Score of 71/100. 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 Wam Active Ltd (WAA)?
Our model-based price target is the fair value of A$0.6500 (as of Aug 27, 2026) from 10 valuation models. Cautious scenario A$0.4900, optimistic scenario A$0.8100. It is a calculation from audited fundamentals, not an analyst target.
What is the Wam Active Ltd stock forecast for 2026?
Our models put fair value at A$0.6500, about −35% upside versus a price of A$1.00 (overvalued). Cautious scenario A$0.4900, optimistic scenario A$0.8100. The calculation is refreshed regularly with new filings.
What is the revenue of Wam Active Ltd (WAA)?
Wam Active Ltd reported trailing-twelve-month revenue of about A$27.5M (latest available figure, as of Aug 27, 2026).
What is the net profit margin of WAA?
The net profit margin of Wam Active Ltd is about 47.5%, meaning it keeps roughly 47.5% of revenue as net income. Based on the latest reported figures.
Does Wam Active Ltd pay a dividend?
Wam Active Ltd currently shows a dividend yield of about 6.20% relative to its recent price (as of Aug 27, 2026).
What growth is priced into Wam Active Ltd (WAA)?
For today's price to be fair in a discounted-cash-flow model, Wam Active Ltd would have to grow free cash flow by -39.5 % per year for ten years (discount rate 11.4 %, then 2 % perpetual growth). Over the last 5 years revenue grew +460.1 % per year. As of Aug 27, 2026.
What discount rate (WACC) does the fair value of WAA use?
Our models discount Wam Active Ltd at 11.4 %: a base by market capitalisation (micro), damped by beta 0.65. The same rate applies in all 26 models.
What is the intrinsic value of Wam Active Ltd (WAA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wam Active Ltd it is A$0.6500 per share (as of Aug 27, 2026), against a price of A$1.00. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Wam Active Ltd stock overvalued or undervalued in 2026?
As of Aug 27, 2026, WAA trades above its calculated fair value: price A$1.00, fair value A$0.6500, a gap of about −35% (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 WAA?
No. The price is what the market pays today (A$1.00); the fair value is what the company's own numbers justify (A$0.6500). For Wam Active Ltd the two are A$0.3500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Wam Active Ltd worth?
The market values Wam Active Ltd at about A$157M (market capitalisation, as of Aug 27, 2026). Per share that is A$1.00; our models calculate a fair value of A$0.6500 per share.
What do the bullish and bearish scenarios say about WAA?
Our models span a range for Wam Active Ltd: cautious scenario A$0.4900, base A$0.6500, optimistic A$0.8100 per share (as of Aug 27, 2026, price A$1.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WAA?
Wam Active Ltd trades at a price-to-earnings ratio of 5.9 (as of Aug 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$0.6500 is built from several models across several years. Other multiples: P/B 1.6, P/S 4.1, EV/EBITDA 10.3.
How solid is the balance sheet of Wam Active Ltd (WAA)?
Balance-sheet figures for Wam Active Ltd (as of Aug 27, 2026): return on equity 17.3%. They feed the Quality Score of 71/100, which measures business quality independently of the share price.
How far is WAA from its 52-week high?
Wam Active Ltd trades at A$1.00, about 8% below its 52-week high of A$1.09 and 34% above the low of A$0.7490 (as of Aug 27, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.6500 is for.
Which stocks are comparable to Wam Active Ltd?
From the same area (Financial Services) we also value Blackstone Inc, Investor AB, Brookfield Corporation, KKR & Co, 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 Wam Active Ltd stock attractive at the current price?
The data as of Aug 27, 2026: price A$1.00, calculated fair value A$0.6500 (−35%), Quality Score 71/100, from 10 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 WAA calculated?
We run Wam Active Ltd through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of A$0.6500, 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 32.6 % above its aggregate fair value. Wam Active 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 <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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