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Pengana International Equities Limited's total free cash flow for the
months ended in Jun. 2026 was
A$12.96 Mil.
Its total free cash flow for the trailing twelve months (TTM) ended in Jun. 2026 was A$18.15 Mil.
During the past 12 months, the average Free Cash Flow per Share Growth Rate of Pengana International Equities Limited was 112.10% per year.
During the past 3 years, the average Free Cash Flow per Share Growth Rate was 15.00% per year.
Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Free Cash Flow Growth Rate using Free Cash Flow per Share data.
During the past 13 years, Pengana International Equities Limited's highest 3-Year average Free Cash Flow per Share Growth Rate was 81.70% per year. The lowest was -64.60% per year. And the median was -14.70% per year.
Pengana International Equities Limited (ASX:PIA) Free Cash Flow Explanation
Free Cash Flow is very close to Warren Buffett's definition of Owner's Earnings, except that in Warren Buffett's Owner's Earnings, the spending for Property, Plant, and Equipment is only for maintenance (replacement), while in the Free Cash Flow calculation, the cost of new Property, Plant, and Equipment due to business expansion is also deducted. There, Free Cash Flow is more conservative than Owner's Earnings.
In Don Yacktman's calculation of forward rate of return, he uses Free Cash Flow for the calculation. Yacktman explained the forward rate of return concept in detail in his interview with GuruFocus. Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation.
This is what Yacktman said in his March 2012 interview - when the S&P 500 was at 1400:
If the business is stable, this calculation is fairly straightforward. For instance, on the S&P 500 we would normalize earnings. We would then calculate what percentage of those earnings are not reinvested in the underlying businesses and are therefore free. Historically, for the S&P 500, this has been just under 50% of earnings. Currently, we expect the S&P to earn about 70 on a normalized basis, a number which is far below reported earnings due to our adjusting for record high profit margins. $70 X ½ / 1400 gives you a normalized free cash flow yield of approximately 2.5%.
The historical real growth rate of the S&P 500 (companies) is about 1.5%. Assuming an inflation rate of 2.5%, the forward rate of return on an investment in the S&P 500 is about 6.5% today (2.5% free cash flow yield plus 1.5% real growth plus 2.5% inflation).
For the growth part of the Forward Rate of Return calculation, GuruFocus uses the 5-year average growth rate of EBITDA per share as the growth rate, and the growth rate is always capped at 20%. For the Free Cash Flow we use per share data averaged over five years. The reason we use five years is because research shows that five years is the length of the typical business cycle.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Free Cash Flow within a report period can be affected by management's decisions of capital spending. Therefore, it is important to look at long term when it comes to Free Cash Flow.
Pengana International Equities Limited Free Cash Flow Related Terms
Pengana International Equities Limited Free Cash Flow Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Pengana International Equities Limited Free Cash Flow Chart
Pengana International Equities Limited Annual Data
Pengana International Equities Limited Free Cash Flow Calculation
Free Cash Flow is considered one of the most important parameters to measure a company's earnings power by value investors because it is not subject to estimates of Depreciation, Depletion and Amortization (DDA). However, when we look at the Free Cash Flow, we should look from a long term perspective, because any year's Free Cash Flow can be drastically affected by the spending on Property, Plant, & Equipment (PPE) of the business in that year. Over the long term, Free Cash Flow should give pretty good picture on the real earnings power of the company.
Free Cash Flow for the trailing twelve months (TTM) ended in Jun. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$18.15 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Pengana International Equities Limited (ASX:PIA) has a Free Cash Flow of A$18.15 Mil as of Jun. 2026. Free cash flow represents the total amount of cash a company has on hand following operating and capital expenditures. View historial data for Pengana International Equities Limited and its competitors.
Is Pengana International Equities Limited's Free Cash Flow too high?
Pengana International Equities Limited's current Free Cash Flow is A$18.15 Mil. Overall, Pengana International Equities Limited has a GF Score™ of 28/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pengana International Equities Limited's Free Cash Flow compare to BLK and BX?
Pengana International Equities Limited's Free Cash Flow of A$18.15 Mil can be compared against companies in the Asset Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Free Cash Flow for an Asset Management company?
A good Free Cash Flow depends on the Asset Management industry context. However, Free Cash Flow should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Free Cash Flow mean?
A high Free Cash Flow can signal that a stock is expensive relative to its fundamentals. Free cash flow represents the total amount of cash a company has on hand following operating and capital expenditures. View historial data for Pengana International Equities Limited and its competitors. Pengana International Equities Limited's current Free Cash Flow is A$18.15 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pengana International Equities Limited stock overvalued right now?
Based on GuruFocus' analysis, Pengana International Equities Limited (ASX:PIA) is currently considered Significantly Overvalued. The stock's GF Value™ is A$0.28, compared to a current price of A$1.05 — trading 273.2% above its estimated fair value. The current Free Cash Flow is A$18.15 Mil. Pengana International Equities Limited's overall GF Score™ is 28/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Free Cash Flow calculated?
Free Cash Flow is calculated from a company's financial statements. For Pengana International Equities Limited (ASX:PIA), the current Free Cash Flow is A$18.15 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Pengana International Equities Limited (ASX:PIA) Overvalued in 2026?
Based on GuruFocus' analysis, Pengana International Equities Limited stock appears to be overvalued.
The current stock price of A$1.05 is trading 273.2% above its estimated GF Value™ of A$0.28.
GuruFocus considers Pengana International Equities Limited to be Significantly Overvalued.
Key valuation signals for ASX:PIA:
Free Cash Flow: A$18.15 Mil
GF Value™: A$0.28 vs. price of A$1.05 (273.2% above fair value)
No single metric tells the full story. See the ASX:PIA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pengana International Equities Limited is an Australian-listed investment company whose operating activity involves investing its Australian capital into businesses operating globally. Its investment objective is to provide shareholders with regular, reliable, and fully franked dividends as well as capital growth. The company invests in high-quality, ethically screened, growing businesses at reasonable prices, focusing on superior risk-adjusted returns over the long term. It operates in one business segment, being investment in securities.
28GF Score
Get the complete analysis for ASX:PIA
Free Cash Flow is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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