WAM Capital Limited (WAM)

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General Information
Company Name: WAM Capital Limited
Stock Code: WAM
Website: www.wamfunds.com.au
GICS Sub-Industry: Other Diversified Financial Services
Market Cap ($M): 695
Equiv. Shares (M): 341

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 2.040 $ 1.990 $ 2.040 $ 1.980 $ 1.975 423,251 $ 0.065  3.291 %

Company Overview

Business Description:
WAM Capital Limited (WAM) is a listed investment company managed by Wilson Asset Management (International) Pty Limited. WAM provides investors exposure to an actively managed diversified portfolio of undervalued growth companies which are generally found in the small to medium industrial sector; and also provides exposure to relative value arbitrages and market mispricing opportunities. The investment objectives are to deliver investors a rising stream of fully franked dividends, to provide capital growth and preserve capital.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  A 68.3 20.7 15.0 9.2 13.0 6.9 100.0
2013  A 32.5 18.0 339.0 9.2 12.0 7.3 100.0
2012  A 4.3 4.1 -78.0 36.6 11.0 7.4 100.0
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Challenger (CGF) $4,089 M 0.0459 -0.0043 0.0456 11.9617 12.0133 11.4897 3.59 4.14 4.48
IOOF (IFL) $2,575 M 0.1260 0.1406 0.0980 16.3866 14.3670 13.0853 5.54 6.13 6.74
Macquarie Group (MQG) $18,598 M 0.5572 0.0965 0.0632 15.8318 14.4378 13.5791 6.49 5.07 5.50
Platinum Asset Mgmt (PTM) $3,483 M 0.4366 0.0355 0.0744 18.4957 17.8625 16.6251 5.67 5.53 5.96
WAM Capital (WAM) $673 M 0.1488 -- -- 9.5503 -- -- 6.58 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
WAM 0.72 9.86 1.17 --
Market 1.21 13.5 1.00 1.04
Sector 1.29 14.6 1.08 1.72

Name Position Start Date
Mr Geoffrey James Wilson Non-Executive Chairman 01 March 1999
Mr Mathew James Kidman Non-Executive Director 01 March 1999
Mr James Chirnside Non-Executive Director 01 February 2003
Mr Paul David Kristian Jensen Non-Executive Director 10 June 2004
Mr Lindsay Robert Mann Non-Executive Director 31 December 2012

Name Position
Katherine Thorley Company Secretary

Calendar of Events
Date Event
27 July 2015 Report (Prelim)
27 January 2015 Report (Interim)
17 October 2014 Div Pay Date
09 October 2014 Books Close
07 October 2014 Div Ex Date
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.


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