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Prime Financial Group Limited

PFG.AX
65
Asset Management · Financial Services
Price
A$0.21
+0.00 (+0.00%)
Market Cap
A$57.4M
Exchange
Australian Securities Exchange
Winston Score
65
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Good
Growth
Mixed
Cash Flow
Good
Stability
Exceptional
Valuation
Strong
Dividends
Exceptional

Share count rising — dilution

+36.1% over 4y

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

Diluted shares outstanding: 181.5M (2021) → 247.0M (2025)

Winston Score History

The full picture

Prime Financial Group is a small Australian financial services company that helps individuals and businesses manage their money. Its main services include accounting, tax advice, financial planning, and wealth management. The company works with private clients, small and medium-sized businesses, and high-net-worth individuals across Australia.

Prime Financial earns money by charging fees for its advisory and accounting services, rather than selling products. It operates entirely within Australia and has a market cap of around $100 million, making it a very small player in a fragmented industry. The company has grown partly by acquiring smaller accounting and financial planning firms, which is a common strategy in this sector, but integrating those acquisitions smoothly and retaining clients remains an ongoing challenge to watch.

Score breakdown

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Quality

Profit per sale
Gross Margin
86.5%
Premium pricing power — 86.5% gross margin
Profit after running costs
Operating Margin
13.7%
Healthy — 13.7% operating margin
Return on the money invested
ROCE
10.8%
Below par — 10.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
-4.6%
Shrinking sales (-4.6% YoY)
Profit growth
EPS YoY
+2.2%
Flat earnings

Single-digit earnings growth — steady but not exciting.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
88%
Modest — 88% of profit becomes cash
Spare cash per sale
FCF Margin
9.5%
Modest free cash flow (9.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.37
Conservative — low debt load (0.37)
Covers its interest
Interest Cover
43.07x
Comfortably covers interest (43.1x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
11.4x
Attractive valuation — P/E 11.4

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
+4.4
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (11.4 → 7.0)

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Dividends

Dividend
Dividend Yield
8.05%
Healthy income — 8.05% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
+16.1%
Dividend growing fast (16.1% YoY)

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