Added to YB: 2026-07-21
Pitch date: 2026-07-17
KPG.AX [neutral]
Kelly Partners Group Holdings Limited
+1.75%
current return
Author Info
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Company Info
Kelly Partners Group Holdings Limited provides chartered accounting and other professional services to private businesses and high net worth individuals in Australia and internationally.
Market Cap
AUD 175.2M
Pitch Price
AUD 4.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
7.87
P/E
57.68
EV/Sales
2.30
Sector
Professional Services
Category
value
Kelly Partners Group (KPG.AX) Notes
KPG.AX (pass): Australian accounting roll-up, 63 partnerships, rev $147M (~20%/yr since IPO), targets $500M by 2031. 50.1% Partner-Owner-Driver structure means only $3.4M of $135M rev reaches shareholders. Parent ROIC 16.6% vs Group 23%. At 30x+ levered FCF, give-them-everything math yields just 17%/yr—below hurdle. Interesting ~$2.50/sh (27%/yr). Pass.
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