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Euroz Hartleys Group Limited

EZL.AX
79
Asset Management · Financial Services
Price
A$1.33
+0.02 (+1.53%)
Market Cap
A$206.9M
Exchange
Australian Securities Exchange
Winston Score
79
Winston is happy
A high-quality business with solid fundamentals.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Exceptional
Growth
Good
Cash Flow
Exceptional
Stability
Exceptional
Valuation
Good
Dividends
Strong

Share count rising — dilution

+3.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 158.6M (2021) → 164.4M (2025)

Winston Score History

The full picture

Euroz Hartleys Group is an Australian financial services firm that helps people and businesses manage money, buy and sell shares, and raise capital. Its main services include stockbroking, wealth management, and corporate advisory, with customers ranging from everyday investors to mining and resources companies looking to list on the stock exchange. The firm is based in Perth, Western Australia, and has a strong focus on the resources sector, which dominates the local economy.

The company earns money through brokerage commissions, fees for financial advice, and fees charged when it helps companies raise funds from investors. It operates almost entirely within Australia, and its deep relationships with resources and mining companies give it a competitive edge in that niche market. Because so much of its business is tied to the health of the resources sector and overall sharemarket activity, a slowdown in commodity markets or a drop in investor confidence could meaningfully hurt its revenue.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-9.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-14.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

38.0%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

A$137M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Euroz Hartleys Group Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
91.5%
Premium pricing power — 91.5% gross margin
Profit after running costs
Operating Margin
25.3%
Excellent — 25.3% operating margin
Return on the money invested
ROCE
27.3%
Exceptional — 27.3% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth
Sales YoY
+22.5%
Fast-growing sales (+22.5% YoY)
Profit growth
EPS YoY
+66.4%
Earnings growing fast (+66.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
259%
Turns 259% of profit into real cash
Spare cash per sale
FCF Margin
36.6%
Converts sales into free cash efficiently (36.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.12
Conservative — low debt load (0.12)
Covers its interest
Interest Cover
71.36x
Comfortably covers interest (71.4x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
11.7x
Attractive valuation — P/E 11.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
3.76%
Moderate income — 3.76% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+104.7%
Dividend growing fast (104.7% YoY)

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