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Computershare Ltd (CPU) Fair Value & Analysis

Financial Services · AU · Market cap A$22.9B (≈ $16.5B) · ISIN AU000000CPU5

What is Computershare Ltd really worth?

CL Computershare Ltd CPU · AU
PriceA$39.81
Fair ValueA$22.04
Upside−44.6%
Quality82/100

A strong business, but trading 81% above our fair value of A$22.04.

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Strengths

Healthy Growth (revenue 5y +6.5 %/yr)
Solidly profitable · 18.8% net margin
Moderate debt · generates free cash flow
Wide moat 81/100

Risks

!Mixed vs. peers (6/15)
!Weak on future: 23 out of 100

For context

·2.59% dividend yield
Evidence: High Range A$15.04 – A$38.68

Fair value as of: Aug 13, 2026

From 13 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from A$16.75 to A$22.04 (+31.6%) since Jul 13, 2026. Share price −5.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 82/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (A$38.68). The favourable scenario is already priced in.
  • A fairly wide model range (A$15.04 to A$38.68) leaves room in how you read the outcome.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

A$43.29 A$13.55 Fair Value A$22.04 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range A$13.55 – A$43.29 · fair‑value band A$15.04 – A$38.68 · the A$39.81 price screens above the A$22.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Computershare Ltd (CPU) currently trades at A$39.81, while our model-based Fair Value estimate is A$22.04, implying the stock looks roughly 80.6% overvalued today. The Quality Score stands at 82/100 (high quality), in the Financial Services sector. Bull case: the DCF Models group reads highest at a median of A$26.07 per share, and 0 of the 13 models we run sit above the A$39.81 price. Bear case: the Asset-Based group reads lowest at A$2.49, and 13 of the 13 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Computershare Ltd generated revenue of A$3.2B at a net margin of 18.8%. Revenue grew 4.6% year over year. It earns a return on equity of 28.7%. Net debt stands at A$666M. Fundamentals as of Aug 13, 2026

Our scenario range runs from A$15.04 (bear case) to A$38.68 (bull case); at A$39.81, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −37% fair-value upside, at −45%, CPU screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly A$0.4600 per share, which is 2.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF best evidence A$16.15 A$27.64 A$46.53 76
Owner Earnings A$15.02 A$26.36 A$45.31 74
Rev-Margin DCF A$9.38 A$14.81 A$21.64 72
All 13 models by family
DCF Models
Owner Earnings A$15.02 A$26.36 A$45.31 74
5Y P/E Exit A$15.04 A$26.07 A$38.32 70
10Y P/E Exit A$15.27 A$25.24 A$38.68 63
Earnings-Based
Graham-Dodd A$7.14 A$29.70 A$40.49 64
Lynch FV A$7.51 A$10.73 A$13.94 61
Dividend Discount
Gordon GGM A$4.61 A$9.59 A$15.21 66
DDM Multi-Stage A$4.61 A$8.08 A$10.06 66
Multiples
P/E Multiple A$16.53 A$22.04 A$27.55 63
P/B Multiple A$12.56 A$16.75 A$20.93 55
Asset-Based
NCAV (Graham) A$1.86 A$2.49 A$3.72 54
Growth DCF
Growth DCF best evidence A$16.15 A$27.64 A$46.53 76
Rev-Margin DCF A$9.38 A$14.81 A$21.64 72
Economic Profit
Residual Income A$6.80 A$8.79 A$43.96 64

Widest divergence: DCF Models (A$26.07) versus Asset-Based (A$2.49). Highest evidence: Growth DCF (76).

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Key figures & financial health

P/E ratio 24.3 as of Jun 8, 2026
P/S ratio 4.73 P/E × margin
EPS (TTM) A$1.49 price ÷ EPS = P/E 24.3
Dividend yield 2.6% payout 69.1%
Net margin 19.5% FY2025
Return on equity 28.7% TTM
More key figures
Profitability
Return on assets (EBIT) 8.7% avg 5y
Operating margin 26.8% TTM
Growth
Revenue (TTM) A$3.2B TTM
Revenue growth (YoY) +4.6% 3y avg +6.7%
EPS growth (YoY) −1.0%
Balance sheet & cash flow
Free cash flow A$780M FY2025
Net debt A$666M FY2025 · ≈ 0.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 82/100

Of which business quality 75 · Market factors (momentum, volatility) 73

Profitability 63
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 96
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Computershare Limited provides issuer, corporate trust, employee share plans and voucher, communication and utilities, technology and operations, and mortgage and property rental services.

Full company description

Computershare Limited provides issuer, corporate trust, employee share plans and voucher, communication and utilities, technology and operations, and mortgage and property rental services. It offers issuer services, including register maintenance, corporate actions, stakeholder relationship management, corporate governance, and related services; corporate trust comprises trust and agency services; mortgage and property rental services, including tenancy bond protection services; and employee share plans and voucher services comprising administration and related services for employee share and option plans, and childcare voucher administration services. The company also provides communication services and utilities operations consisting of document composition and printing, intelligent mailing, inbound process automation, scanning, and electronic delivery. In addition, it offers technology services, such as software solutions in share registry and financial services, and operations and shared services. The company operates in Asia, Australia, New Zealand, Canada, Continental Europe, the United Kingdom, the Channel Islands, Ireland, Africa, and the United States. Computershare Limited was incorporated in 1978 and is based in Abbotsford, Australia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Computershare Ltd reported revenue of A$3.1B in FY2025 versus A$2.3B in FY2021, a compound +8.1%/yr. Reported net income was A$607M in FY2025, compounding +33.9%/yr from FY2021.

Growth Quality 82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
A$3.1B
Latest YoY
+4.5%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.7%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.5%
Avg. revenue growth/yr (30Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+21.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+19.7% (17.1 + 2.6)
Revenue +8.1%/yr
FY21 A$2.3B
FY22 A$2.6B
FY23 A$2.8B
FY24 A$3.0B
FY25 A$3.1B
Net income +33.9%/yr
FY21 A$189M
FY22 A$228M
FY23 A$445M
FY24 A$353M
FY25 A$607M
Character of growth · EPS growth decomposed (2014-2025) +9.9 % p.a.
Revenue per share +3.8 %

of which total revenue +4.5 % · buybacks/dilution −0.7 %

EBIT margin +11.2 %
Tax rate +0.1 %
Residual (interest, one-offs) −4.9 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

CPU screens 81% overvalued. Compare with Morgan Stanley, a financial holding company, →

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Cite: Fair Value Calculator (2026). "Computershare Ltd Fair Value". https://www.fairvalue-calculator.com/stock/CPU

Peer Group

Capital Markets · 453 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 80 · Top 25%
Fair Value upside −45% · Below median
Return on equity (TTM) 29% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 19% · Above median
Operating margin (TTM) 27% · Above median
Revenue growth 5% · Below median
Dividend yield (TTM) 2.6% · Above median
Debt / equity 0.74× · Higher than 75% of peers

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 24.3× · Pricier than median
P/B 7.68× · Pricier than 75% of peers
P/S (TTM) 5.18× · Pricier than median
P/FCF 21.2× · Pricier than 75% of peers
EV/EBITDA 16.2× · Pricier than 75% of peers
PEG 1.42× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 10
FUTURE23 · sector 91
PAST100 · sector 30
HEALTH63 · sector 94
DIVIDEND52 · sector 38

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Morgan Stanley, a financial holding company, MS $214.77 $138.97 −35%
The Goldman Sachs Group GS $1,034 $756.89 −27%
The Charles Schwab Corporation SCHW $110.16 $66.17 −40%
Robinhood Markets, Inc HOOD $104.26 $30.94 −70%
Macquarie Group MQG A$251.87 A$75.58 −70%
CITIC Securities Company 600030 ¥27.93 ¥17.68 −37%
Guotai Haitong Securities Co 601211 ¥17.87 ¥18.62 +4%
East Money Information Co 300059 ¥19.42 ¥4.77 −75%
CSC Financial Co 601066 ¥25.78 ¥14.17 −45%
Huatai Securities Co 601688 ¥19.56 ¥19.26 −2%

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Frequently asked questions

Is Computershare Ltd (CPU) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of A$22.04 versus a price of A$39.81, about −45% upside (overvalued).
What is the fair value of CPU?
Our model-based fair value for Computershare Ltd is A$22.04 (as of Aug 13, 2026), built from audited fundamentals. The current price: A$39.81.
What is the quality score of CPU?
Computershare Ltd has a Quality Score of 82/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Computershare Ltd (CPU)?
Computershare Ltd reported trailing-twelve-month revenue of about A$3.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of CPU?
The net profit margin of Computershare Ltd is about 18.8%, meaning it keeps roughly 18.8% of revenue as net income. Based on the latest reported figures.
Does Computershare Ltd pay a dividend?
Computershare Ltd currently shows a dividend yield of about 2.59% relative to its recent price (as of Aug 13, 2026).
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