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Pacific Current Group Limited
Financial Services · Asset Management
Updated just now
$10.00
MARKET CAP
$295.18M
P/E RATIO
4.7
DIV. YIELD
4.9%
FRANKING
64%
Pacific Current Group Limited engages in multi-boutique asset management business worldwide. It manages assets for institutional and individual clients.
View full descriptionThe Warsi Rating combines two proven approaches: value investing principles and dividend strategy. A stock must score 70+ on both to be rated Solid or higher.
$113.05
Discounted cash flow estimate
$5.92
For 6% dividend yield
Business quality and balance-sheet durability.
Profit generated per $1 of shareholder investment
6.9% average is below the 12% threshold. This suggests the business may lack a durable competitive advantage. Note: COVID-19 Pandemic year(s) excluded — ROE recovered to 230% of target.
Current Snapshot
10Y Avg
6.9%
Threshold
12.0%
Worst Year
-25.7%
Why It Matters
ROE shows how effectively management turns shareholder capital into profit. High and stable ROE can signal pricing power, cost discipline, or both.
Formula
Net Income / Shareholders' Equity x 100Method
Use the 10-year average ROE and review the weakest year to check whether returns stayed resilient across cycles.
Worked Example
This company's 10-year average ROE is 6.9%, meaning each $1 of shareholder equity generates $0.07 in annual profit. The threshold is 12%, and the worst single year was -25.7%.
How to Interpret
Higher and steadier ROE generally supports stronger long-term compounding. Large drawdowns in weak years can point to fragility.
Lower ROE means your investment compounds more slowly. At 6.9%, this business needs more capital to generate the same returns as competitors. Consider whether other strengths (yield, stability) compensate for weaker profitability.
Sources
Real cash left after running the business
Negative free cash flow means the company is consuming cash. May need to raise debt or equity to fund operations.
Current Snapshot
Current FCF
$-2M
Pass Rule
> $0
Status
Negative
Why It Matters
Free cash flow is the cash available after core operating and capital needs. It is central to dividend capacity.
Formula
Operating Cash Flow - Capital ExpendituresMethod
Review whether free cash flow is consistently positive and whether it is sufficient relative to dividends and debt needs.
Worked Example
This company generated $-2M in free cash flow — cash left after operating costs and capital expenditure. Negative FCF means the company is consuming more cash than it generates.
How to Interpret
Persistently negative free cash flow can force reliance on borrowing or equity issuance to maintain payouts.
Negative cash flow means dividends may require borrowing - an unsustainable situation. The company is spending more cash than it generates, which can't continue indefinitely.
Sources
Price versus estimated intrinsic value and required return thresholds.
What percentage of the stock price comes back as earnings each year
Consistency of profits over time
Is the business growing or shrinking over time?
Revenue has grown 330% over 3 years — the business is expanding, which supports growing dividend capacity.
Current Snapshot
Revenue Change
+330.0%
Debt Change
N/A (financials)
Trend State
Improving
Why It Matters
Revenue trend shows whether the business is expanding or contracting. Debt trend adds context on whether growth is being funded conservatively.
Formula
Revenue Change (%) = (Latest Revenue - Earliest Revenue) / |Earliest Revenue| x 100; Debt Change (%) = (Latest Debt - Earliest Debt) / |Earliest Debt| x 100Method
Map annual revenue history and, where relevant, annual debt history. For financial companies, debt is excluded because deposits and reserves distort this signal.
Worked Example
Revenue changed by +330.0% across the displayed period.
How to Interpret
Rising revenue with stable or falling debt is typically stronger than rising revenue funded by rapidly rising leverage.
Revenue has grown 330% over 3 years — the business is expanding, which supports growing dividend capacity.
Sources
Annual dividends as percentage of stock price
3.55% yield is well below the 6% target. Not suitable for Barsi's income strategy.
Current Snapshot
6Y Avg Yield
3.5%
6% Requirement
6.0%
Gross Yield
4.5%
Why It Matters
Yield translates dividend income into a percentage of the price paid, which is central to income-first screening.
Formula
Annual Dividends per Share / Stock Price x 100Method
Use the 6-year average annual dividend for consistency and compare the result with the 6% framework requirement.
Worked Example
With a 6-year average annual dividend of $0.35 and a share price of $10.00, the Barsi yield is 3.5%. The minimum requirement is 6%. Including franking credits, the gross yield is 4.5%.
How to Interpret
Higher sustainable yield improves upfront income, but unusually high yields may reflect elevated risk or weak coverage.
Low yield means you need significant capital to generate meaningful income. Barsi's strategy focuses on stocks that provide substantial cash flow from day one.
Sources
Track record of consistent dividend payments
| Ex-Date | Pay Date | Gross | Franking | Net | Credit |
|---|---|---|---|---|---|
| 4 Mar 2026Interim | 9 Apr 2026 | $0.29 | 100% | $0.20 | $0.09 |
| ~2 Sept 2026Est | ~5 Oct 2026 | ~$0.23 | 0% | ~$0.23 | $0.00 |
Highest price to lock in 6% yield
Industry category of the business
Financial Services is not a BESST sector. Non-BESST stocks receive a lower base score but can still qualify with exceptional dividend metrics.
Current Snapshot
Industry
Asset Management
BESST Match
No
Score Impact
No bonus
Why It Matters
Sector classification helps contextualise risk and demand durability, which can materially affect dividend stability.
Formula
BESST Match = Sector in {Banks, Energy, Sanitation, Insurance, Telecom}Method
Match company sector or industry against BESST categories. A match adds scoring support but does not replace core dividend checks.
Worked Example
This company operates in Asset Management (Financial Services sector). It does not match a BESST sector, so it receives the standard base score. Non-BESST stocks can still qualify with strong dividend metrics.
How to Interpret
Sources
How much of a company's earnings are paid out as dividends
A 31% payout is in the sustainable range (30–75%) — the company balances rewarding shareholders with reinvesting for growth. This gives the price ceiling calculation a stable base, which is a healthy sign for long-term dividend investors.
Current Snapshot
Latest Ratio
30.5%
Healthy Range
30%-75%
Zone
Healthy
Why It Matters
Payout ratio links dividends to earnings capacity and helps evaluate whether current distributions are likely to remain supportable.
Formula
Payout Ratio (%) = (Annual Dividend per Share / Earnings per Share) x 100Method
Calculate year-by-year payout ratios where EPS is positive, classify each year by sustainability zone, and compare with the current TTM ratio.
Worked Example
$0.38 dividend / $2.13 EPS equals 17.8% payout ratio.
How to Interpret
Ratios in the middle range are usually more sustainable than very high ratios. Values above 100% indicate dividends exceeded earnings in that period.
A 31% payout is in the sustainable range (30–75%) — the company balances rewarding shareholders with reinvesting for growth. This gives the price ceiling calculation a stable base, which is a healthy sign for long-term dividend investors.
Sources
Pacific Current Group Limited engages in multi-boutique asset management business worldwide. It manages assets for institutional and individual clients. The company was formerly known as Treasury Group Ltd and changed its name to Pacific Current Group Limited in October 2015. Pacific Current Group Limited is based in Melbourne, Australia.
Who owns the company's shares and how much leadership has at stake
Management's wealth moves with yours
Professional fund managers have done their homework and chosen to own this
Shares freely traded on the ASX by individual investors like you
A healthy mix — insiders hold 16.6% (they have skin in the game) and professional fund managers hold 59.2% (they’ve done their homework and like the business). This balance is a good sign for long-term investors.
Current Snapshot
Insider %
16.6%
Institutional %
59.2%
Float %
24.2%
Why It Matters
Ownership mix affects governance incentives, liquidity, and share-price behaviour under large portfolio rebalancing flows.
Formula
Public Float (%) = 100 - Insider Ownership (%) - Institutional Ownership (%)Method
Use reported ownership percentages, convert to percentage terms, and compute remaining public float as the residual.
Worked Example
If insiders own 16.6% and institutions own 59.2%, public float is 24.2%.
How to Interpret
Higher insider ownership can improve alignment of incentives, while dominant institutional concentration can amplify short-term price moves.
A healthy mix — insiders hold 16.6% (they have skin in the game) and professional fund managers hold 59.2% (they’ve done their homework and like the business). This balance is a good sign for long-term investors.
Sources
| Date | Insider | Type | Shares | Value |
|---|---|---|---|---|
| 28 Oct 2025 | Arter (Justin Rowland) Director | Unknown | 10K | — |
| 30 June 2025 | Killick (Ashley) Chief Financial Officer | Unknown | 41K | — |
Company insiders have been net buyers of shares over the past 12 months. This may indicate management confidence in future prospects.
Value analysis may be affected by missing data.
Market data sourced from third-party financial data providers. Analysis generated using Warsi Criteria — proprietary scoring algorithms for value investing and dividend income analysis. Not financial advice. Learn how we analyse stocks →
Excellent value. 21.3% earnings yield significantly exceeds the 7.5% required return.
Current Snapshot
Current Yield
21.3%
Required Yield
7.5%
Spread
+13.8pp
Why It Matters
Earnings yield reframes valuation as return on price paid. It helps compare equity earnings power against lower-risk alternatives.
Formula
(Earnings per Share / Stock Price) x 100Method
Calculate current earnings yield, then compare it to the required yield for the stock's industry setting.
Worked Example
With EPS of $2.13 and a share price of $10.00, earnings yield is 21.3%. The required yield for this industry is 7.5% (based on 4.5% government bond rate plus a risk premium).
How to Interpret
A yield above the required level suggests better valuation support; below it indicates thinner compensation for equity risk.
Strong earnings yield means you're well-compensated for owning shares instead of buying safe bonds. The business is priced to deliver solid returns.
Sources
How current price compares with estimated intrinsic value
Exceptional discount: 87% BELOW the fair-value threshold (includes 30% margin of safety).
Current Snapshot
Current Margin
91.2%
Industry Threshold
30%
Status
87% Undervalued
Why It Matters
Margin of safety provides a valuation buffer against modelling uncertainty and adverse business outcomes.
Formula
(Estimated Intrinsic Value per Share - Current Price) / Estimated Intrinsic Value per Share x 100Method
Estimate intrinsic value using a two-stage DCF (10-year projection plus terminal value), then compare with current price.
Worked Example
For this stock now: intrinsic value is $113.05 per share, current price is $10.00, and margin of safety is 91.2%.
How to Interpret
Positive margin indicates price below modelled value; negative margin indicates price above modelled value. Compare against the industry's required buffer.
The market price sits far below your required entry threshold, providing a substantial valuation buffer if assumptions prove optimistic.
Sources
3 loss year(s) found with only 4 years of data. Limited data requires 100% positive EPS - industry exemptions don't apply.
Current Snapshot
Positive Years
6/4
Allowed Losses
0 (limited)
EPS CAGR
29.6%
Why It Matters
Consistency in EPS helps distinguish resilient earnings power from one-off performance spikes.
Formula
Positive EPS Years / Available EPS YearsMethod
For 8+ years of data, apply industry-specific loss tolerance. For limited data, every available year must be positive.
Worked Example
This company reported positive earnings in 6 of the last 4 years, with 3 loss years. With only 4 years of data, every year must be positive. EPS growth rate (CAGR) is 29.6%.
How to Interpret
Fewer loss years and stronger EPS continuity generally improve confidence in future dividend and valuation assumptions.
Loss years signal unpredictable earnings. During loss periods, companies often cut dividends to preserve cash. Your income could be at risk in the next downturn.
Sources
| Ex-Date | Pay Date | Gross | Franking | Net | Credit |
|---|---|---|---|---|---|
| 5 Sept 2025Final | 3 Oct 2025 | $0.28 | 0% | $0.28 | $0.00 |
| 4 Mar 2025Interim | 1 Apr 2025 | $0.15 | 0% | $0.15 | $0.00 |
| 4 Sept 2024Final | 2 Oct 2024 | $0.23 | 0% | $0.23 | $0.00 |
| 6 Mar 2024Interim | 3 Apr 2024 | $0.15 | 0% | $0.15 | $0.00 |
| 6 Sept 2023Final | 4 Oct 2023 | $0.23 | 0% | $0.23 | $0.00 |
| 8 Mar 2023Interim | 5 Apr 2023 | $0.15 | 0% | $0.15 | $0.00 |
| 7 Sept 2022Final | 5 Oct 2022 | $0.23 | 0% | $0.23 | $0.00 |
| 3 Mar 2022Interim | 31 Mar 2022 | $0.15 | 0% | $0.15 | $0.00 |
| 8 Sept 2021Final | 6 Oct 2021 | $0.26 | 0% | $0.26 | $0.00 |
| 4 Mar 2021Interim | 1 Apr 2021 | $0.10 | 0% | $0.10 | $0.00 |
Excellent track record. 11 years of consistent dividends through multiple market cycles.
Current Snapshot
History
11yr
Predictability
Moderate
Payout Health
N/A
Why It Matters
Payment consistency is a direct test of dividend reliability. Large cuts or skips often appear before confidence recovers.
Formula
Consecutive Years = count of years with dividend payments and no disqualifying skip/cut eventsMethod
Require at least 6 years of history, then check for skipped years and large cuts, allowing approved systemic-event exceptions.
Worked Example
This company has 11 years of dividend history (2016–2026). No suspensions detected — 11 consecutive years of payments. Predictability: Moderate. Payout health: N/A. The minimum requirement is 6 years.
How to Interpret
Longer uninterrupted records generally signal stronger income reliability than high yield alone.
A 11-year track record through multiple economic cycles gives confidence your income will continue. This company has proven it prioritises shareholder returns.
Sources
Current price ($10.00) is 69% above the ceiling. Wait for a drop to lock in 6% yield.
Current Snapshot
Current Price
$10.00
Max Buy Price
$5.92
Delta
-68.9%
Why It Matters
The price ceiling links valuation discipline to income targets by defining the price that aligns with a 6% yield target.
Formula
6-Year Average Annual Dividend / 0.06Method
Use the 6-year average dividend (not one year) and divide by 0.06 to estimate the maximum entry price for target yield.
Worked Example
With a current price of $10.00 and a ceiling of $5.92, the entry is 68.9% above the ceiling.
How to Interpret
Prices below the ceiling imply a historical yield above 6%; prices above it imply a lower historical yield at entry.
At this price, you won't achieve Barsi's target 6% yield. Consider waiting for a pullback — market volatility often creates more favourable valuations for patient investors.
Sources
BESST alignment is a positive context signal. Non-BESST stocks can still qualify with strong yield and dividend consistency.
Non-essential businesses face demand drops during recessions — discretionary spending is first to be cut. This increases cyclical risk for dividends, but companies with decades of consistent payments can still demonstrate durability.
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