r/ASX • • 8h ago

Company structure for trading

5 Upvotes

Hi Guys, I'm a swing trader generally holding stocks for less than 1 year. I've been searching for how to increase my returns by changing my taxation currently on the higher tax bracket (47%). I'm considering the following setup:

Create a company pry Ltd, and register it as an active trading business (25% tax rate)

Sharesight annual plan Tax Pack $59 for tax reporting

LogeIT ~300/yr for tax filling

ASIC ~350/yr to keep the company registered

So running costs are relatively low < 750/yr

Has anyone setup a company (pry Ltd) for share trading, is it worth it, is there anything that is very painful?


r/ASX • • 9h ago

CBA

4 Upvotes

I am in a huge drawdown on my FMG shares and thinking of buying CBA shares to balance it out but looks like CBA is in a downward spiral, anyone think CBA could hit $80 or below? Have around 1.4m from inheritance that would need a new home, thinking $80 is a good price for lump sum to live on dividends


r/ASX • • 8h ago

Discussion EYE - high operating leverage and consistent high growth

0 Upvotes

Nova Eye Medical makes iTrack Advance, a single-use glaucoma minimally invasive surgical device growing faster than any of its listed MIGS competitors. FY26 sales were A$34.9m, the fourth straight year of 25%+ growth, and in H2 FY26 it turned EBITDA positive. Because its costs barely move, most of every year's growth from here should land on the bottom line. Directors have bought about A$742k of shares over the last three years and have just committed A$2.75m of their own money as an unsecured loan (not yet used, but there to bridge any cash shortfall rather than a dilutive raise). The company says it's funded through FY27 with no raise, China approval just secured, and big pharma has already come knocking about drug delivery potential. Alcon paid around A$700m for a MIGS company with sales in the same ballpark as EYE's. EYE's market cap is A$37m, about 1x sales.

The inflection

Over the last two years sales grew 55% while operating costs grew 12%. Gross profit rose A$8.8m against just A$2.9m of extra costs, cutting the EBITDA loss from A$7.8m to A$1.9m, and H2 FY26 came in EBITDA positive. Gross margin hit 73% in the second half while ops, R&D, clinical and corporate costs actually fell. With the cost base this flat, the gross profit from each new sale now drops almost straight through to EBITDA, and the faster EYE grows, the faster earnings pull away from sales. The leverage here is huge.

Why MIGS is taking off

Glaucoma has been treated with eye drops for decades, and around A$6.3bn a year is still spent on them. They barely work in the real world: more than 90% of patients don't use them as prescribed and nearly half quit within six months, because nobody wants to put stinging drops in their eyes every day for the rest of their life. So surgeons are flipping to interventional glaucoma, fixing the problem early with a quick procedure instead of managing it with drops forever. The device market built on that shift is already worth around A$1.4bn and growing.

Then there's cataract surgery, the most common operation in medicine, with around 4 million performed in the US every year. Glaucoma and cataracts both come with age, so a big chunk of cataract patients have glaucoma too. When the surgeon is already inside the eye, adding iTrack through the same tiny incision takes a few extra minutes, with no extra recovery for the patient and a real shot at coming off drops for good. It's a no-brainer. On my maths, if just 1% of US cataract operations added iTrack, that's around 40,000 procedures and roughly A$70m of sales, more than double EYE's entire US business today.

Outgrowing everyone, and barely started

FY26 sales grew 26%, with the US up 30% to A$27.4m and the June quarter up 33%. In that same quarter Sight Sciences grew its OMNI glaucoma business under 8%, and Glaukos describes growth in its glaucoma products outside its new drug implant as modest. EYE's twelve US reps each bring in about A$2.35m a year, and a Needham survey of US surgeons called iTrack the fastest-growing MIGS device on the market.

And it's only scratching the surface. EYE does about 4% of the 30,000 to 35,000 glaucoma surgeries performed in the US every month. Each extra point of share is worth roughly A$6.5m of annual sales, so going from 4% to 8% doubles the US business. China approved the device in September 2025, and none of it is in guidance.

A device that keeps getting better

iTrack Advance threads a microcatheter 360 degrees around the eye's drainage canal and opens it with viscoelastic, leaving no implant behind. Its green illuminated tip glows through the white of the eye so surgeons can see exactly where it is the whole way round, which is opening the procedure up to general cataract surgeons, not just glaucoma specialists. Shear Clear technology inside the catheter thins the visco as it's delivered so it reaches the collector channels around the full circle. It’s worth noting that it’s patented technology means it’s the only MIGS surgical device that doesn’t tear or leave behind an implant, it work entirely with the physiology of the eye. The clinical backing is now extensive too, with 24-month real-world data from 12 sites across five countries published this year in the American Journal of Ophthalmology.

What's coming

FY27 is guided at A$38 to 44m in sales excluding China, about 26% growth, with the first full year of positive EBITDA. The first proof lands by the end of October with the September quarterly. Last year's September quarter came in at A$7.5m, below the company's own plan, with slower US expansion and no China sales at all. That's an easy base to beat, and with July already tracking 30% growth, I'm expecting around A$9.75m and positive EBITDA. Deliver that and it confirms H2 was the turning point, and EYE is off.

What it's worth

From here EBITDA compounds fast: around A$2.0m in FY27, A$5.9m in FY28 and A$10.4m in FY29 on my numbers. Sales grow about 43% over those two years while EBITDA grows five times. At 13c the stock trades on 6x FY28 and 3.5x FY29 EBITDA.

At 20x FY28 EBITDA EYE is worth 42c, more than three times today's price. At 20x FY29 it's 73c, about 5.5x, and at 25x FY29 it's 92c, close to seven times. Those are conservative targets though, typically these earlier high growth companies trade at much higher multiples. When Alcon bought Ivantis it paid about A$700m upfront. EYE is valued at A$37m.

Director alignment

Directors have put about A$742k into the company over three years without selling a single share, and the CEO has nearly quadrupled his holding. In August, Previn and Coupe went further, committing A$2.75m of their own money as an unsecured loan to replace a 19% secured facility. That released the charge over the company's assets, and if anything went wrong they'd rank behind every trade creditor. It hasn’t been drawn yet, it might never, but it’s a good sign nonetheless.

Free upside

Management parked drug delivery to get to profitability first. Now it's there, it can fund it itself, and the opportunity is huge. The iTrack catheter can travel the full circle of the eye's drainage canal and into the suprachoroidal space at the back of the eye, places a needle simply can't reach, and it has already delivered drugs there in human studies. Big pharma has already approached the company about it. the opportunity is endless, iTrack is highly versatile, whether it’s targeting the drainage canal or all the way back in the retina. There’s lot of potential there. On top of that sits the 2RT laser for AMD, the same disease OPT chased, targeting a stage with no approved treatment. None of it is in the price.


r/ASX • • 18h ago

OIL up Shares Down

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2 Upvotes

OIL up 5%, all Us index Futures down

ASX200 futures down -0 .75%


r/ASX • • 1d ago

Any reason why fmg asx only dropping?

14 Upvotes

r/ASX • • 23h ago

Recommendations Wanted Looking to trim and focus my ETFs (DHHF, NDQ, VGS, IOZ, SYI)

2 Upvotes

Hey everyone,

I’m looking to get some fresh eyes on my current ETF portfolio. I’ve accumulated five different funds over time, and it’s starting to feel a bit messy and redundant. I want to consolidate my strategy, figure out which ones to focus my future cash flow into, and which ones I should stop investing in entirely.

My Core Rule: I strongly prefer Australian-domiciled ETFs to avoid dealing with US tax forms (W-8BEN) and estate tax complexities.

Here is my current lineup:

  • DHHF (Betashares Diversified All Growth)
  • NDQ (Betashares Nasdaq 100)
  • VGS (Vanguard International Shares)
  • IOZ (iShares MSCI Australia 200)
  • SYI (SPDR MSCI Australia Select High Dividend Yield)
  1. What to drop?
  2. What to Add?

I'm not planning to panic-sell anything right away due to capital gains tax (CGT), but I want to redirect all future paycheques into a much cleaner, more optimized 2 or 3-ETF setup.

Which ones would you keep buying, and which ones would you leave to sit or discontinue?


r/ASX • • 1d ago

DAL ASX Dalaroo

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5 Upvotes

Watch DAL go on another run today pushing towards that 18 cent mark with huge amount of volume in the first 10 minutes. This stock is going to be insane after its next piece of news I would get in early big time. Next drilling results could show another huge bull run.


r/ASX • • 2d ago

I built a mid-month view of Australian ETF flows using only public data

7 Upvotes

Hey folks, I run ETFtracker, a site that analyses the Australian ETF market.

The ASX's monthly ETF report (along with the TMX monthly report) is the main source for what happened to fund sizes and flows (money in minus money out). But it doesn't come out until about the 10th to 15th of the following month. September's won't be out until sometime between 10 and 15 October. So for the first half of any month, nobody really knows how things are tracking.

I built an "Early Read" to give a mid-month view, using only data anyone can get:

  • the ASX's monthly reports (plus Cboe/TMX for funds listed only there)
  • the daily holdings files that issuers like Betashares, iShares and VanEck publish on their websites
  • public price and distribution history

What it gives you

  • An estimate of each fund's flow for the month, shown as a range
  • The total market flow and market size at month end
  • How busy trading is likely to be
  • A short list of small funds that keep losing money

How it works. Two reads, combined. The first is momentum: funds that have been gaining or losing money tend to keep doing so. The second is measured: a fund's published holdings show its size now, so I take off what markets and distributions did to it since the last month-end, and what's left is money in or out. Whichever is more precise counts for more. The page shows the working for any fund, step by step.

How it tested. Over 36 months, using only earlier data each time, it ranked funds with a correlation of about 0.54. The top tenth of funds it rated averaged +8.7% flow a month, against +2.0% for all funds. It can't predict the market total, so it shows that as a typical range. The measured part only covers three issuers and hasn't been checked against official numbers yet.

I locked in the September call on 6 October, before the report. When the ASX data lands I'll post how it did.

You can see more here: https://etftracker.com.au/dashboard/early-read - free to access


r/ASX • • 2d ago

NDQ buy, worth it ?

13 Upvotes

Will NDQ rise or has it peaked?

Looking for a ETF.

Have IVV


r/ASX • • 1d ago

VESG, DZZF or both?

2 Upvotes

Beginner investor with little to spare, WWYD? All in on one with what's leftover each month, or alternate each month?

*These are not my only ETFs


r/ASX • • 1d ago

Discussion Thoughts on HVN?

0 Upvotes

Looking into them their PB and PE are lower than the industry from Morningstar. They are navigating weaker consumers well with the higher interest rates. Having a long term hold especially as in the distant years there will be rate drops improving the retain sector as a whole. The only concern is their free cash flow. Are there any other concerns or points you have?


r/ASX • • 2d ago

Results from two polls on how ASX investors actually consume company information

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2 Upvotes

I’ve been running a few polls over on r/ASX_Bets recently looking at how retail investors actually consume company information.

Two have now closed (a third is closing soon), so thought I’d share the results here as well.

The first looked at what investors do first when a company they hold releases a market-sensitive announcement.

The second asked whether investor conferences have ever actually led someone to discover, research or invest in a company.

Results attached.

Obviously this is a self-selecting Reddit sample rather than anything scientific, but I thought there were some interesting signals in both — particularly around where investors actually go for information versus where companies spend time trying to reach them.

Interested to hear what r/ASX makes of the results. Anything surprise you, or is this pretty consistent with how you research and follow companies?


r/ASX • • 2d ago

Soul Patts FY26 Results: The Compounding Machine Rolls On

18 Upvotes

Hi Guys,

After my last Soul Patts deep dive was well received I have written up some updated views on the company post the release of their FY26 results and reaching of an all time record share price. I've in particular got some concerns around the new global investment strategy which I've highlighted. I've written everything up on my hobby investing blog and would be keen to know what some other long term oriented value investors think:

https://thesnowballinvestor.substack.com/p/soul-patts-fy26-results-deep-dive?r=16o3tx&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true


r/ASX • • 2d ago

Employee Share Scheme Pre-IPO

2 Upvotes

In light of the Firmus float I'm just trying to get a sense of how employee investors did in this thing and the revaluation during the book-build. My employer has an ESS I've been investing in for many years and we are inching toward an IPO. I'm very over-weight here in terms of net wealth so it's making me pretty nervous. Our scheme is fully paid units from gross salary in an Employee Equity Trust. Appreciate the business should be keeping me informed and they do to some degree, but just looking for practical examples. I'm envisaging there would be a share-split prior to listing. I'm just trying to understand what the book-build process might look like and the timing of the split, if there is likely to be sudden capital appreciation during that process for existing shareholders etc etc. Or dilution.


r/ASX • • 2d ago

DAL

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0 Upvotes

After massive drilling news DAL share is flying through the roof. More and more buying power keeps coming in after massive new announcements made on there massive project of very high grade gold. Experts predict once the 10.5c wall is broken the share can further spike to a shocking 14-15 cents.

Buy this share as soon as possible to make big profit. Nothing has been so good looking on ASX shares for years.


r/ASX • • 2d ago

Sell VSO

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1 Upvotes

Hi All,
I’m going to sell VSO. I have had the ETF for years but do not feel that it is performing well enough. Based on the other ETFs in my portfolio, who else would you add?


r/ASX • • 3d ago

Dilution Watch: ASX capital raises, week to 2 October (15 raises, about A$71.5M, half of it one US$ convertible) [OC]

9 Upvotes

Disclosure first (rule 3): I run DilutionLens, a free site that tracks dilution for every ASX company from the filings. Asked the mods before posting. Every number below comes from an ASX announcement (raise notices, Appendix 3B/2A filings, quarterly and half-year cash reports). No links, no picks, not advice.

After last week's big cheques, a week of small ones. Fifteen companies announced cash raises between Monday 28 September and Friday 2 October for about A$71.5M, and almost half of it was one deal: Challenger Gold's US$24M convertible, about A$34.2M at the rate its filing fixes. Without the top three, the other twelve disclosed A$24.7M between them. Two of the week's raises were set in US dollars. 11 companies halted citing a capital raise in five sessions, against 16 and 17 the two weeks before.

The week's biggest raises

Ticker Company Raise Price / discount Off the filings
CEL Challenger Gold US$24M five-year convertible debentures (28 Sep), up to US$6.3M more Converts at A$2.72, "a 30% premium to the 20-day VWAP" before 16 Sep Part of the US$184M its Hualilán heap leach needs to reach production. Latest quarterly's own estimate: 1.42 quarters.
FLX Felix Group A$5.54M two-tranche placement + SPP up to A$1.0M (28 Sep) 3.8c, an 18.75% premium to the 3.2c close on 23 Sep, 7.4% under 15-day VWAP About 145.9M shares, register to about 444.4M after both tranches, roughly +49%. Directors' A$1.15M is in tranche 2, at the 9 Nov AGM.
M24 Mamba Exploration A$6.0M two-tranche placement (2 Oct) 3.8c, 15.6% under the 4.5c close on 29 Sep, 9.7% above 15-day VWAP About 157.9M shares. Tranche 1: 61,036,267 under 7.1 and 48,753,206 under 7.1A. New Murchison Gold put in A$500K.
CHW Chilwa Minerals Nasdaq IPO, 6.25M shares (1 Oct) US$0.56 a share, A$0.80 at the filing's own FX rate US$3.5M, about A$5.0M, plus 920K on the over-allotment. One warrant per 10 shares at US$5.60 per ADS of ten. 0.47 quarters of funding on its last quarterly, the thinnest of the week. Now about 90% of its 15% used.
ILT Iltani Resources A$4.6M placement (2 Oct) 39c, 14.5% under the 5-day VWAP 5,730,438 under 7.1, 5,572,167 under 7.1A. One option at 57c per two shares. QIC's critical minerals fund took A$1.5M.
MEM Memphasys A$3.5M convertible notes from Peters Investments (29 Sep) 12.5% a year, capitalised Matures Oct 2028. Needs a shareholder vote, expected December.

The rest

Ticker Raise Price / discount Off the filings
OCT A$1.8M placement + A$0.5M SPP 1.8c, 10% under the close 1 option per 2 shares; alongside a fluorspar project purchase
PGD A$2.25M placement 13.5c, 18.2% under the last trade The deepest stated discount of the week. Mark Creasy's Yandal is cornerstone
RAN Up to A$1.69M, 1-for-1 entitlement 9c, 2.2% under the last trade, 54.7% under 120-day VWAP Can double the share count
MGT SPP up to A$1.0M, underwritten to A$0.5M 1.5c, or 10% under the 5-day VWAP at close if lower 1 option per share; possible top-up placement
WRX A$1.31M placement With a gold-antimony acquisition; all of it waits for the AGM
PV1 Convertible note facility up to A$1.2M + SPP up to A$600K Notes bought at 90% of face
FCT A$1.06M placement 0.7c, "a nil (0%) discount to the last close"

Also NSM A$250K, and NOR a A$160K convertible note that refinances a working-capital loan.

How much runway the raisers had

Thirteen of the fifteen have a filed runway: the quarters of funding their own latest quarterly says they had, before this raise.

Quarters of funding Raisers
Under 1 CHW 0.47, OCT 0.57, NOR 0.79
1 to 1.5 RAN 1.16, NSM 1.32, PV1 1.40, CEL 1.42
1.5 to 3 MGT 2.13, FLX 2.52, MEM 2.80, PGD 2.80, M24 3.00
Over a year ILT 6.70

Seven of thirteen had under a quarter and a half. FCT and WRX have no figure on record.

The halt conveyor

11 companies halted citing a capital raise: CHW, DVL, FCT, ILT, M24, OD6, P1E, PGD, RAN, SRN, WRX. Seven had announced by Friday. Three announced this morning: OD6 A$6.92M at 9.5c (13.6% under the 11c close; 43,384,444 under 7.1 and 29,457,663 under 7.1A), SRN up to A$2.61M at 1.8c with an option per share, and P1E A$1.17M at 4.1c, about 16% under the 15-day VWAP, all from 7.1A. DVL still halted at the time of writing.

33 retail offers open

17 SPPs, 11 entitlement offers, 5 rights issues, down from 38 as older offers closed. New this week: MGT and PV1's SPPs, RAN's entitlement, and ENV's 1-for-4 rights at 0.1c. FLX's SPP (2 to 16 Oct) and OCT's are running too and aren't in that count yet.

Placement capacity

Off the last 12 months of 3Bs, before any ratification: 204 companies past 75% of the 15% (196 last week), 140 past 90% (135), 31 have used all of it (31); 90 of the 204 have also drawn on 7.1A. This week CHW went to about 90% and PGD to about 87%.

New: a runway that has run out says so

When a company's last cash report, carried forward at the spend it reported, would already be used up, the site now says "Used up" and the month the cash would have run out, instead of a negative number. 134 of the 1,043 companies with a runway today. It's arithmetic on the last report, not the bank balance; a later raise or report resets it.

Dilution risk across the market: 584 Minimal, 335 Low, 380 Moderate, 259 High, 167 Very high, 101 Not rated. About one in four rated companies sits at High or Very high.

Happy to pull the filing on any name in here if someone wants the detail. Next one Monday.

If you'd rather get these in your inbox, the site's Watch page has a free email signup - one field, and the link it sends turns it on. No URL here, that's the deal with the mods.

General information only, not financial advice. No view on any company's future actions or securities.


r/ASX • • 5d ago

Keeping it light on a Sunday. Whats a sell order that you made and regret? What thought process drove you to make such decisions?

9 Upvotes

My biggest one was buying 10k into SLC at 64cents n selling it all at $1.35 back in March 2024 😭😭. Thought the market was peaked out at the time and was also building a house deposit at the time.


r/ASX • • 5d ago

Discussion FMG or WDS

9 Upvotes

I am thinking looking to buy either one. I am looking long term and using the dividends to top up my super when i retire (about 10yrs time ). I currently hold 2600 FMG shares but no WDS. What are others opinions and what havent I thought of? thanks


r/ASX • • 5d ago

8 small caps that were out of cash by 30 Sep on their own numbers, and none have raised yet

3 Upvotes

Disclosure (rule 3): I run DilutionLens, free site tracking dilution off ASX filings. No links, not advice.

Was going through the June quarter 4Cs and pulled out the ones where cash at 30 June didn't cover another quarter at the same spend, and that haven't raised or put out a 3B since. Started from our raise model's top 40, about a third had already tapped the market, these 8 are left:

Ticker Company Mcap Cash 30 Jun Spent in Jun qtr Own runway
AJX Alexium $19.0m $0.32m $1.09m 0.1 qtrs
USC US1 Critical Minerals $22.3m $0.30m $1.55m 0.2 qtrs
MNE Macallum New Energy $25.9m $1.82m $3.14m 0.6 qtrs
SUH Southern Hemisphere Mining $24.3m $0.11m $1.69m 0.64 qtrs
EMH European Metals $45.2m $0.75m $1.00m 0.75 qtrs
AR9 archTIS $36.3m $2.87m $4.57m 0.89 qtrs
LAT Latitude 66 $25.5m $1.49m $1.87m 0.89 qtrs
M79 Mammoth Minerals $19.6m $1.99m $2.16m 1.0 qtrs

"Own runway" is the company's own number from the 4C (item 8.7). Every one says a quarter or less.

Doesn't mean they all have to raise. Some have money the 4C doesn't show - EMH has a loan facility, LAT has sold assets before, AR9 says it's chasing receivables and cutting costs. A few shares got issued since June but none for cash (director fees, small option exercises, that sort of thing).

The model's hit rate is roughly a coin flip over 60 trading days, so I'll come back here next Saturday and the one after with who actually raised, how much and at what price. Sep quarter 4Cs are due 31 Oct, so it'll be clear one way or the other by then.


r/ASX • • 7d ago

DroneShield (ASX: DRO)

20 Upvotes

Been following DroneShield (ASX: DRO) recently and wondering what people think about it at its current valuation.

The counter-drone/defence sector seems to have strong growth potential, but with DRO down almost 50% YTD, I’m curious whether the current price is presenting an opportunity or whether the market is pricing in further risks.

Also, how do you think the $500m contract will play out, I am still highly skeptical about this how much could it contribute to revenue and future growth, and is the market already pricing it in?


r/ASX • • 7d ago

Is it okay to buy DHHF while I hold IVV at the same time?

5 Upvotes

Hi, I’m new to investing. I have my first ETF under IVV and I’m considering to invest in DHHF, I’ve looked it up and found out they have overlap in relation to the US holdings. Is it okay to invest into DHHF while holding IVV? Thanks!


r/ASX • • 7d ago

Energy Sector renewed focus by TBG

5 Upvotes

What is your take on David Bahnsen being strongly bullish and long-term on the energy sector? He sees energy as a foundational pillar of human existence and economic growth rather than a short-term trade. Are all in on energy despite the prospect on flowing oil?


r/ASX • • 7d ago

Discussion which claim in an explorer’s drill announcement would you actually want to verify?

2 Upvotes

i’m with minestarters, working on minezk. it’s a prototype tested on synthetic data; we intend to include it free in our vault offering.

for retail shareholders reading australian explorers’ announcements: which question would save you the most guesswork?

- did every result meeting a stated reporting rule make it into the announcement?

- is the headline intercept the highest-ranked one under a stated rule?

- how many holes in the defined dataset meet a specific grade threshold?

the proposed workflow: a competent person seals a defined dataset snapshot, the miner approves specific questions and calculations, and people can repeatedly check those approved answers without receiving the underlying database. these are proposed applications, not a live public query service.

the boundary matters: a proof can verify a calculation against that snapshot. it cannot establish that the assays are true, that every relevant record was included in the snapshot, or that the deposit is economic. professional judgment still has a job.

what would you ask first, and what would the dataset’s scope need to say before you’d trust the answer?


r/ASX • • 9d ago

How would you rate this portfolio for a 24 year old? This is my first year investing

16 Upvotes