L1G FINANCIAL STATEMENTS

L1 Group Limited — balance sheet, income statement and cash flow trends

L1GL1 Group Limited

🇦🇺 Australia · AU · Financial Services · Asset Management

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue519.9 M A$+151.6%

Gross Profit452.1 M A$+149.2%

Operating Income414.4 M A$+348.1%

EBITDA427.1 M A$+520.1%

Net Income275.8 M A$-75.8%

Peer Comparison· Asset Management

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
L1G	—	—	—	53.0%
PAX	—	—	—	18.0%
SII	—	—	—	22.4%
WT	—	—	—	-0.3%
APAM	—	—	—	23.3%
INVES	—	—	—	186.9%
Industry median	22.3%	3.0%	127.9%	16.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity723.7 M A$78%
Current Liabilities2.9 M A$0%
Long-term Liabilities203 M A$22%

Key Figures

YoY change

Total Assets1.2 B A$+222.8%

Total Liabilities205.9 M A$+523.7%

Total Equity723.7 M A$+122.8%

Cash & ST Investments254.3 M A$+21.9%

Total Debt33.4 M A$+154.6%

Net Debt-213.5 M A$—

Peer Comparison· Asset Management

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
L1G	235.38	4.6%	-0.52	62.1%
PAX	1.70	42.3%	1.08	34.8%
SII	2.98	—	—	75.4%
WT	9.07	253.2%	7.79	26.6%
APAM	0.97	79.5%	0.02	27.0%
INVES	9.61	0.0%	-1.01	87.5%
Industry median	3.81	18.1%	0.18	64.6%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
L1G	235.38	4.6%	-0.52	62.1%
GQG	7.70	6.0%	-0.17	90.1%
LSF	1.74	—	—	39.3%
MFF	501.92	0.3%	—	83.5%
IFL	—	59.0%	2.16	59.5%
MXT	—	—	—	99.3%
Industry median	3.81	18.1%	0.18	64.6%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow97.4 M A$+17.9%

Capital Expenditures432 K A$-65.8%

Free Cash Flow92.8 M A$+14.1%

Dividends Paid-61 M A$-176.2%

Peer Comparison· Asset Management

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
L1G	18.7%	17.9%	0.1%	35.3%
PAX	54.4%	46.8%	7.6%	302.9%
SII	33.9%	33.4%	0.5%	151.2%
WT	22.2%	21.9%	0.3%	-6,934.9%
APAM	15.9%	15.9%	0.1%	68.2%
INVES	285.3%	15.5%	0.0%	152.6%
Industry median	18.7%	17.4%	0.6%	68.9%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
L1G	18.7%	17.9%	0.1%	35.3%
GQG	57.8%	57.4%	0.4%	104.3%
LSF	—	—	—	—
MFF	—	—	—	—
IFL	15.8%	17.3%	1.8%	231.9%
MXT	-35.1%	—	0.0%	-36.6%
Industry median	18.7%	17.4%	0.6%	68.9%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
L1G	—	—	—	53.0%
GQG	—	—	—	55.4%
LSF	—	—	—	—
MFF	—	—	—	—
IFL	—	—	—	6.8%
MXT	—	—	—	95.8%
Industry median	22.3%	3.0%	127.9%	16.7%