Judo Capital Holdings Ltd

JDO: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$3.30	Gvzv	Fpqrzqrgc

Judo Capital: Loan Growth Remains Strong, but Credit Quality Beginning to Be Tested

Nathan Zaia

May 9, 2024

Judo Capital delivered a fiscal third quarter that was broadly as expected and reiterated underlying full-year pretax profit guidance of AUD 107 million-112 million. AUD 7 million in one-off costs related to entitlements for the outgoing CEO and a restructure that resulted in a number of non-customer-facing roles being axed. Apart from the one-off cost, we maintain our forecasts, AUD 1.20 fair value estimate, and no-moat rating.

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