GQG Partners (ASX:GQG) High 57.3% Margin Challenges Bearish Profitability Narratives

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Feb 15

AdvertisementGQG Partners FY 2025 earnings snapshot GQG Partners (ASX:GQG) has posted its FY 2025 first half result with total revenue of US$403 million and basic EPS of US$0.078, alongside net income...

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Over recent periods, trailing twelve month revenue has moved from US$760.4 million in FY 2024 H2 to US$808.3 million in FY 2025 H2, with EPS on the same basis moving from US$0.146 to...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"GQG.AU":"GQG Partners Inc","BK7062":"资产管理与托管银行"},"translate_title":"GQG Partners(ASX：GQG)57.3%的高利润率挑战看跌的盈利能力叙述","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GQG.AU":1.5},"content_text":"AdvertisementGQG Partners FY 2025 earnings snapshot GQG Partners (ASX:GQG) has posted its FY 2025 first half result with total revenue of US$403 million and basic EPS of US$0.078, alongside net income of US$227 million that builds on 9% earnings growth over the last year and a net profit margin of 57.3% on a trailing basis. Over recent periods, trailing twelve month revenue has moved from US$760.4 million in FY 2024 H2 to US$808.3 million in FY 2025 H2, with EPS on the same basis moving from US$0.146 to US$0.155. With the shares trading at US$1.74 and margins holding at high levels, investors are likely to focus on how these results balance profitability with the forecast risks around future earnings and dividend coverage. See our full analysis for GQG Partners. With the latest numbers on the table, the next step is to see how this earnings profile compares with the widely followed narratives about GQG, and where the data challenges or supports those views. See what the community is saying about GQG Partners ASX:GQG Revenue & Expenses Breakdown as at Feb 2026 9% earnings growth but slower than history  Over the last 12 months, earnings grew 9% while the five year average earnings growth was 28.9% per year, so the recent pace is solid but much slower than the longer term record. What stands out for the bullish view is that trailing net income of US$463.3 million and a net margin of 57.3% line up with the story of a high margin manager, yet the 9% earnings growth is far below the 28.9% long run average, which:\n     supports bulls who point to strong profitability and high reported margins as a base to grow from, using the US$808.3 million of trailing revenue and 57.3% margin as reference points, and challenges the more optimistic growth claims that rely on much faster earnings expansion than the recent 9% outcome.    Stronger recent profits with a slower growth rate than history give bulls plenty to like on quality, but less proof that past growth speeds are still in play. 🐂 GQG Partners Bull Case High 57.3% margin meets weak dividend cover  The net profit margin over the last year was 57.3% compared with 55.9% previously, yet the trailing dividend yield of about 11.18% is flagged as not well covered by earnings. Bears focus on this mix of strong profitability but stretched payouts, arguing that:\n     a margin that sits at 57.3% on roughly US$808.3 million of revenue shows the core business is currently very profitable, and an 11.18% dividend that is not well covered by those earnings could be pressured if profitability softens from these levels, especially with a high payout ratio highlighted in the narrative.    That combination of high margin and weak dividend cover is exactly the kind of trade off cautious investors tend to watch closely. 🐻 GQG Partners Bear Case Low 7.8x P/E against forecasts of earnings decline  The shares trade on a P/E of 7.8x at about A$1.74, while forecasts in the data point to earnings declining around 7.4% per year and revenue declining around 0.8% per year over the next three years. Consensus narrative views this contrast between pricing and outlook as key, since:\n     the 7.8x P/E and indication that the stock trades materially below an A$1.95 analyst target and the DCF fair value of A$4.42 suggest the market is pricing in a lot of caution already, and forecast declines of roughly 7.4% per year for earnings and 0.8% per year for revenue help explain why some investors are reluctant to pay higher multiples despite high trailing margins and recent 9% earnings growth.    So you have a low multiple and a big gap to DCF fair value on one side, and forecast earnings declines on the other, which is what makes the stock a debate.  Next Steps To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for GQG Partners on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves. See the numbers differently? If the data points push you toward a different conclusion, shape that view into your own narrative in just a few minutes, Do it your way A great starting point for your GQG Partners research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision. Explore Alternatives For all the high margins, GQG Partners still faces a mix of weaker dividend cover and forecast earnings declines that could weigh on income focused investors. If that combination of stretched payouts and a soft earnings outlook makes you uneasy, compare it with our hand picked 9 dividend fortresses to see which income ideas feel sturdier today.  This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}