The Netwealth Group Ltd (ASX: NWL) share price is in focus today after the company reported a record net profit after tax (NPAT) of $135.4 million, up 16.2%, and a fully franked final dividend of 21.0 cents per share.
Image source: Getty Images
What did Netwealth Group report?
- Total income rose 20.6% to $391.1 million
- EBITDA increased 18.0% to $192.9 million with a margin of 49.1%
- NPAT (excluding First Guardian expenses) was $135.4 million, up 16.2%
- Full-year dividend lifted 9.1% to 42.0 cents per share
- Funds Under Administration (FUA) hit $135.7 billion, up 20.3%
- Client accounts increased 12.4% to 182,276
What else do investors need to know?
Netwealth continued to record strong platform revenue growth across all key streams, with revenue per account up 6.7% year on year. Management pointed to strength in managed accounts, which saw funds under management surge 27.9% to $34.6 billion, cementing their role as a key growth engine.
Investments were deliberately stepped up in FY26, especially in technology, AI capabilities, product development, and supporting higher operational headcount. Netwealth also expanded its adviser and private wealth footprint, launching new capabilities such as Individual HIN and announcing a partnership with Morgan Stanley Wealth Management Australia.
What did Netwealth Group management say?
Netwealth's CEO, Matt Heine, commented:
FY26 was a strong year for Netwealth. We delivered record Funds Under Administration, strong gross inflows, continued market share gains and attractive earnings growth, while maintaining our disciplined approach to investment and execution. Throughout the year, we continued to invest in our people, technology, governance, product capability and operational capacity. These investments are strengthening our competitive position, enhancing the client and adviser experience, and increasing our ability to support future growth.
What's next for Netwealth Group?
Looking ahead to FY27, Netwealth is targeting FUA net flows of $18–20 billion, up as much as 30% on FY26 levels, along with an expected EBITDA margin of approximately 47%. The company's strategic goal is to double its FUA over four years (the Dx30 ambition).
Netwealth will continue investing in technology, artificial intelligence, and client experience to maintain its growth momentum, expand into new markets and support increasing adviser and client demand.
Netwealth Group share price snapshot
Over the past 12 months, the Netwealth Group share price has significantly underperformed the S&P/ASX 200 index (ASX: XJO) with a decline of almost 40%.
