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Whitefield Income Limited
Financial Services · Asset Management
Updated 13 hours ago
$1.29
MARKET CAP
$208.78M
P/E RATIO
—
DIV. YIELD
4.1%
FRANKING
100%
Whitefield Income Limited operates as an investment company. It focuses on investing in Australian Securities Exchange listed equity securities. Whitefield Income Limited was founded in 1923 and is based in Sydney, Australia.
The 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.
Business quality and balance-sheet durability.
Real cash left after running the business
Positive cash generation. Company produces real cash after capital expenditures - can fund dividends, buybacks, or growth.
Current Snapshot
Current FCF
$11M
Pass Rule
> $0
Status
Positive
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 $11M in free cash flow — cash left after operating costs and capital expenditure. Positive FCF means dividends are funded by real cash generation.
How to Interpret
Sources
Annual dividends as percentage of stock price
Whitefield Income Limited operates as an investment company. It focuses on investing in Australian Securities Exchange listed equity securities. Whitefield Income Limited was founded in 1923 and is based in Sydney, Australia.
Who owns the company's shares and how much leadership has at stake
Management's wealth moves with yours
Few fund managers own this — expect less research and analyst coverage
Shares freely traded on the ASX by individual investors like you
Leadership owns a solid 19.2% of the company, which is encouraging. However, professional fund managers aren’t heavily involved (1.1%), so there may be less analyst coverage and research available. This can mean the stock is overlooked — a potential opportunity if the fundamentals are strong.
Current Snapshot
Insider %
19.2%
Institutional %
1.1%
Float %
79.7%
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 19.2% and institutions own 1.1%, public float is 79.7%.
How to Interpret
Higher insider ownership can improve alignment of incentives, while dominant institutional concentration can amplify short-term price moves.
Leadership owns a solid 19.2% of the company, which is encouraging. However, professional fund managers aren’t heavily involved (1.1%), so there may be less analyst coverage and research available. This can mean the stock is overlooked — a potential opportunity if the fundamentals are strong.
Sources
| Date | Insider | Type | Shares | Value |
|---|---|---|---|---|
| 5 Dec 2025 | Jenkins (Lance W) Independent Non-Executive Director | Other at price 0.88 per share. | 23K | $20K |
| 5 Dec 2025 | Seddon (William R) Director (Executive) | Other at price 0.88 per share. | 45K | $40K |
| 5 Dec 2025 | Webster (Jenelle Bronwyn) Independent Non-Executive Director | Other at price 0.88 per share. | 23K | $20K |
| 3 Dec 2025 | Gluskie (Angus John) Chairman of the Board | Unknown | 45K | — |
Company insiders have been net buyers of shares over the past 12 months. This may indicate management confidence in future prospects.
There isn't enough financial data available for Whitefield Income Limited to calculate value or dividend scores.
•Value: Missing core financial metrics (ROE, debt, margins)
•Dividend: No dividend history available
This is common for small-cap companies, recent listings, or exploration-stage companies.
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 →
Persistently negative free cash flow can force reliance on borrowing or equity issuance to maintain payouts.
Positive cash flow means dividends are funded by actual money, not accounting profits. As Buffett says, "Cash is fact, profit is opinion." Your income is backed by real cash generation.
Profit generated per $1 of shareholder investment
368.0% average ROE meets the threshold, but dropped to 3.9% in a weak year. Consistency matters in this framework.
Current Snapshot
10Y Avg
368.0%
Threshold
12.0%
Worst Year
3.9%
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 368.0%, meaning each $1 of shareholder equity generates $3.68 in annual profit. The threshold is 12%, and the worst single year was 3.9%.
How to Interpret
Higher and steadier ROE generally supports stronger long-term compounding. Large drawdowns in weak years can point to fragility.
The average is solid, but the dip shows some vulnerability. At 368.0% ROE, every $1 retained generates $3.68 in annual profit — monitor whether the weak year was a one-off or a recurring pattern.
Sources
Consistency of profits over time
Only 1/3 positive EPS years. Buffett requires predictable earnings he can forecast 5-10 years out.
Current Snapshot
Positive Years
1/3
Allowed Losses
0 (limited)
EPS CAGR
N/A
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 1 of the last 3 years. With only 3 years of data, every year must be positive.
How to Interpret
Fewer loss years and stronger EPS continuity generally improve confidence in future dividend and valuation assumptions.
Volatile earnings create dividend uncertainty. When profits disappear, dividends often follow. Forecasting your future income becomes difficult.
Sources
Insufficient dividend history. Barsi methodology requires 6 years of data to calculate average yield.
Current Snapshot
6Y Avg Yield
N/A
6% Requirement
6.0%
Gross Yield
N/A
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
If annual dividends are $0.60 and the share price is $10, dividend yield is 6.0%.
How to Interpret
Higher sustainable yield improves upfront income, but unusually high yields may reflect elevated risk or weak coverage.
Without 6 years of dividend history, we can't assess whether the yield is sustainable or a one-time spike. More data is needed to evaluate income potential.
Sources
Track record of consistent dividend payments
Insufficient dividend history for estimation
| Ex-Date | Pay Date | Gross | Franking | Net | Credit |
|---|---|---|---|---|---|
| 11 May 2026Special | 29 May 2026 | $0.01 | 100% | $0.01 | $0.00 |
| 16 Apr 2026Interim | 30 Apr 2026 | $0.01 | 100% | $0.01 | $0.00 |
| 16 Mar 2026Interim | 31 Mar 2026 | $0.01 | 100% | $0.01 | $0.00 |
| 13 Feb 2026Interim | 27 Feb 2026 | $0.01 | 100% | $0.01 | $0.00 |
| 16 Jan 2026Interim | 20 Feb 2026 | $0.01 | 100% | $0.01 | $0.00 |
| 16 Dec 2025Special | 20 Jan 2026 | $0.01 | 100% | $0.01 | $0.00 |
| 14 Nov 2025Special | 19 Dec 2025 | $0.01 | 100% | $0.01 | $0.00 |
| 16 Oct 2025Final | 20 Nov 2025 | $0.01 | 100% | $0.01 | $0.00 |
| 15 Sept 2025Final | 20 Oct 2025 | $0.01 | 100% | $0.01 | $0.00 |
| 14 Aug 2025Final | 18 Sept 2025 | $0.01 | 100% | $0.01 | $0.00 |
Only 2 years of dividend history available. Barsi methodology requires 6+ years to evaluate consistency.
Current Snapshot
History
2yr
Predictability
N/A
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 2 years of dividend history (2025–2026). No suspensions detected — 2 consecutive years of payments. Predictability: N/A. 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.
Without 6 years of history, we can't verify this company maintained dividends through economic cycles. Longer track records provide confidence your income will continue.
Sources
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
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.
Sources
How much of a company's earnings are paid out as dividends
Payout ratio data is limited. Without this metric, it’s harder to assess whether dividends are sustainable relative to earnings.
Current Snapshot
Latest Ratio
N/A
Healthy Range
30%-75%
Zone
N/A
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
$0.05 dividend / $0.09 EPS equals 61.3% 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.
Payout ratio data is limited. Without this metric, it’s harder to assess whether dividends are sustainable relative to earnings.
Sources
Pacific Current Group Limited
Centrepoint Alliance Limited
Prime Financial Group Limited
Regal Partners Limited
Pinnacle Investment Management Group Limited
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