Netwealth stock reports record FY26 income of AUD 391.1 million

Published on 10/05/2026 at 11:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Netwealth stock posted adjusted NPAT of AUD 135.4 million in FY26. Bell Potter cut its target from AUD 30.00 to AUD 25.00 on October 2, 2026.

Netwealth, AU000000NWL7, Illustration mit AI erstellt.

Netwealth Group (ISIN AU000000NWL7) reported record FY26 total income of AUD 391.1 million, up 20.6 percent from the prior corresponding period. Kapitales Research said the annual report was dated August 26, 2026, giving the growth figures a clear reporting period.

FY26 earnings set a higher base

Adjusted NPAT increased 16.2 percent to AUD 135.4 million, while adjusted EBITDA rose 18.0 percent to AUD 192.9 million. Platform revenue reached AUD 382.9 million after increasing 21.0 percent, according to Kapitales Research.

The operating expansion was also visible in funds under administration, which climbed 20.3 percent to AUD 135.7 billion in FY26. Funds under management increased 27.9 percent to AUD 34.6 billion, while gross FUA inflows reached AUD 32.9 billion, the report said.

FY27 flows now drive the debate

Netwealth's FY27 guidance calls for FUA net inflows of AUD 18 billion to AUD 20 billion, creating a measurable test for the platform after the FY26 expansion. The company also reported 182,276 client accounts and 4,205 financial intermediaries in FY26, up 12.4 percent and 5.9 percent respectively, according to Kapitales Research.

The statutory outcome was more restrained than the adjusted result: statutory net profit attributable to members was AUD 60.6 million, compared with AUD 116.5 million in FY25. The difference included AUD 105.2 million in expenses linked to the First Guardian issue and related regulatory actions.

Analyst targets remain above the market

Bell Potter retained its Buy rating but reduced its price target from AUD 30.00 to AUD 25.00 on October 2, 2026, citing lower flow expectations and a valuation multiple reset, as The Motley Fool Australia reported.

The published consensus remains Buy, based on 16 analysts, with 11 Buy ratings, 5 Holds and 0 Sells. Investing.com lists an average 12-month target of AUD 26.00, a high of AUD 34.80 and a low of AUD 17.90; the average target is 51.5 percent above the AUD 17.16 price on October 5, 2026.

Stock stays above its yearly low

Netwealth stock was last at AUD 17.16 on the ASX on October 5, 2026, at 4:10 p.m. AEDT, with a daily change of -0.29 percent. The price stood 4.95 percent above the 52-week low of AUD 16.35, while market capitalization was AUD 4.2 billion and trading volume was 342,588 shares.