Netwealth Group Limited (NWL.AX)

Growth Stock Valuation · Technology · Software - Application

Valuation as at 2026-08-14

About Netwealth Group Limited

Netwealth Group Limited, a financial services company, engages in the wealth management business in Australia. The company operates a platform that offers superannuation, including accumulation and retirement income products; investor directed portfolio services for self-managed superannuation and non-superannuation investments; managed accounts and funds, self-managed superannuation funds administration; and non-custodial administration and reporting services. It also provides investment wrap products; investment options, such as listed and international securities, managed account models, managed funds, annuities, term deposits, premium services, and investor rewards; insurance products; forms and disclosure documents; and resources and tools, as well as advisory, licensee, and private wealth solutions.

Source: Yahoo Finance company profile · factual description, not KashVector commentary

Netwealth Group Limited NWL.AX

Technology · Software - Application

Price
$23.94
Market Cap
$5.87B
Free Cash Flow
$189.4M
Revenue (TTM)
$361.4M
Revenue Growth
23.8%
Gross Margin
66.4%
Net Debt
$-170.9M
52-Week Range
$19.80–$38.30

What does the current price assume?

At the current price, the market appears to be pricing in about 60.7% initial revenue growth — steep enough that the model's own free cash flow would dip before recovering by year 1, even though Netwealth Group Limited's actual free cash flow is already positive.

Netwealth Group Limited's trailing free cash flow is $189.4M on 23.8% current revenue growth today. The model's reinvestment charge scales with the assumed growth rate, not the company's actual current pace — funding 60.7% growth takes substantially more reinvestment than the business is really making right now, which is what pushes the modeled figure negative before it recovers.

Netwealth Group Limited's price & financial trends

Data as at 2026-08-14

Share price · last 2 years

$23.94 +6% vs 2024-08
ASX 200 $22.52$31.55$33.59$27.44$23.56$23.94 2024-082025-012025-062025-112026-042026-08

Revenue Per year

$312.3M +87% vs FY22
$166.7M$206.7M$246.7M$312.3MFY22FY23FY24FY25

Free cash flow Per year

$118.9M +110% vs FY22
$56.6M$73.6M$85.1M$118.9MFY22FY23FY24FY25

Operating margin trajectory Per year

45.5% -4% vs FY22
47.2%45.5%FY22FY23

Growth Score

Strong Fit4 of 4 criteria passed
Rule of 40 (Growth % + FCF Margin % >= 40)76.2%
Revenue Growth > 20%23.8%
Gross Margin > 50%66.4%
Cash Runway > 24 MonthsSkipped
Operating Margin Trajectory ImprovingSkipped
Dilution (Diluted Shares Growth) <= 10%/yr0.3%

Value investing scale · Buffett · Dalio · Graham

Strong Fit
14 / 20 combined score

1 criterion had no data

See the full Buffett, Dalio & Graham breakdown for NWL.AX →

The two models, in detail

Each shown with what it says the company is worth today and what growth the current price already implies — not just a single point estimate.

Multi-Stage DCF

$8.17
-65.9% margin of safety
Deeply Overvalued

EV / Sales

$9.53
-60.2% margin of safety
Deeply Overvalued
Implied EV/Sales at the current price: 15.78x (vs. today's reported 15.88x)

These numbers come from running Netwealth Group Limited's revenue and margin trajectory through the Multi-Stage DCF and EV/Sales formulas above — not from any view on the news, management, or NWL.AX's competitive position. What is a multi-stage DCF?

Want to test your own growth, margin, or discount-rate assumptions?Open the full interactive calculator, pre-filled with NWL.AX →

More ASX stocks we've valued

Not financial advice. Multi-Stage DCF and EV/Sales valuations are highly sensitive to assumptions — small changes in growth rate, target margin, or discount rate produce large swings in output. This is a mechanical calculation, not a recommendation to buy, hold, or sell.

About this valuation

Computed on 2026-08-14 from Yahoo Finance data, using the same engine as the full Growth Stock Evaluator. Every figure above is a point-in-time snapshot of that date — change any assumption yourself in the interactive tool for a live one.

Frequently asked questions

Is Netwealth Group Limited (NWL.AX) undervalued?

The Multi-Stage DCF estimates intrinsic value at $8.17 vs a price of $23.94 on 2026-08-14. This is a mechanical output from a model with genuine assumptions built in (target margin, growth fade, reinvestment) — not advice.

What does "implied growth rate" mean?

It's the reverse question: instead of assuming a growth rate and computing a value, this holds every other assumption fixed and asks what initial revenue growth rate would make the model's value equal to today's actual price. It tells you what the market is already betting on, which you can then judge for plausibility yourself.