Pinnacle Investment Management Group Ltd PNI

Stock XASX Rating as of Nov 5, 2026

A$15.75 −0.66 (4.02%)

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As of Nov 6, 2026, 3:44:36 AM Delayed Price Open

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Pinnacle Investment: Growth to Slow as Inflows Mature

Shaun Ler Oct 30, 2026

Pinnacle reported a 4% rise in funds under management, or FUM, to AUD 238 billion for the September 2026 quarter, from June 2026, or up 3% excluding funds acquired with Antipodes. Net inflows were about 13% of FUM on a yearly basis, below the two-year average of 19%.

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Price vs Fair Value

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PNI is trading at a LOCK|$rQw!# premium.

Price

A$16.41

Nov 5, 2026

Fair Value

LOCK|.D@

Oct 30, 2026

Uncertainty

LOCK|q%y

1-Star Price: LOCK|.&?%
5-Star Price: LOCK|rz
Economic Moat: LOCK|dP@
Capital Allocation: LOCK|%t?Y>Hg

Bulls Say, Bears Say

Bulls

Pinnacle is known as a high-quality growth partner for well-performing boutique managers. There is potential for further earnings upside through increased distribution and new boutiques.

Bears

Pinnacle’s boutiques are typically smaller (that is, have less FUM) than stand-alone listed managers, meaning there is greater risk for them to be nonviable if there is a major fall in capital markets or large client redemption.

Trading Information

Previous Close Price: A$16.41
Day Range: A$15.60–16.51
52-Week Range: A$12.16–20.03
Bid/Ask: A$15.75 / A$15.76
Shares Outstanding: 243.68M
Market Cap: A$3.84B
Volume/Avg: 989,898 / 1M

Key Statistics

Price/Earnings (Normalized): 20.80
Price/Sales: 25.17
Dividend Yield (Trailing): 3.66%
Dividend Yield (Forward): 3.66%
Dividend Payment Schedule: Mar, Sep
Total Yield: 3.66%

Company Profile

Pinnacle Investment Management Group is an Australia-based multiaffiliate investment management firm. The principal activities of the firm are equity, seed capital, and working capital, and providing distribution services, business support, and responsible entity services to a network of boutique asset managers, termed as "affiliates." Apart from deriving revenue from its services, Pinnacle also earns a share of profits from its affiliates by holding equity interests in them. The business is growing rapidly, with the number of boutiques and FUM growing to 19 and around AUD 238 billion in September 2026, respectively, from seven and AUD 23 billion in December 2016.

Sector: Financial Services
Industry: Asset Management
Stock Style Box: Mid Growth
Total Number of Employees: 118
Website: https://www.pinnacleinvestment.com

Competitors

Perpetual Ltd
PPT

Valuation

Metric	PNI	PPT
Price/Earnings (Normalized)	20.80	10.69
Price/Book Value	3.31	1.34
Price/Sales	25.17	1.88
Price/Cash Flow	10.66	7.66

Price/Earnings

PNI

PPT

Financial Strength

Metric	PNI	PPT
Quick Ratio	—	0.75
Current Ratio	—	1.58
Interest Coverage	—	1.31

Quick Ratio

PNI

PPT

Profitability

Metric	PNI	PPT
Return on Assets (Normalized)	14.69%	5.56%
Return on Equity (Normalized)	17.63%	11.64%
Return on Invested Capital (Normalized)	—	7.69%

Return on Assets

PNI

PPT

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