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EVT
EVT Ltd
Entertainment
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Communication Services
About EVT Ltd
SOURCE
ACTION
FUND MANAGER
DATE
31 Jul 2026
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Frequently asked questions about EVT Ltd (ASX:EVT)
Frequently asked questions
Who is investing in EVT Ltd (ASX:EVT)?
Fund managers including Naos Asset Management, Oracle Advisory Group, Cooper Investors, Perpetual Asset Management, Wilson Asset Management, SG Hiscock & Company, Perennial Partners and Investors Mutual Limited have invested in EVT Ltd (ASX:EVT).
What opportunities or catalysts do fund managers highlight for EVT Ltd?
SG Hiscock & Company, commenting around August 2025 when the share price was approximately $14.07, saw encouraging underlying trends behind a weak headline result, pointing to clear operating leverage in the Entertainment division as blockbuster content returned, a stronger FY26 film slate, and the Pro-Invest hotels acquisition as a third pillar of asset-light growth alongside a strong property portfolio. Perpetual Asset Management echoed this at the same time, seeing scope for earnings recovery as the film slate normalises and cinema operating leverage becomes more evident, while noting Hotels and Resorts strength from higher occupancy and revenue per room. By October 2025 (~$14.49), Perpetual reported Q1 EBITDA up 20.7% with growth across all divisions - Entertainment earnings up 53.1% on a strong German film, Thredbo up 28.6% on better snow, and Hotels delivering a record quarter - while Perennial Partners similarly highlighted Hotels and Thredbo momentum plus upside from divesting Sydney CBD assets. Wilson Asset Management (March 2026, ~$13.20) cited FY26 interim revenue and net profit growth and a $750 million refinancing improving financial flexibility for hotel expansion, and in April 2026 (~$11.99) framed EVT as a classic asset-backed opportunity where investors are effectively “getting the operating business for free” given the valuation gap to property value. Perpetual's March 2026 commentary reinforced the asymmetric-upside case, noting Hotels now represent ~60% of group EBITDA with further momentum expected from FY27 as Queenstown and Gold Coast upgrades complete. Perpetual's June 2026 articles (~$12.50-$12.89) valued EVT's property near $11.70 a share, framed potential CBD divestments (including the 525 George Street sale) as a catalyst for a dividend or capital return, and noted the hotel business moving to a capital-light, third-party management model. Investors Mutual Limited (July 2026, BUY, ~$12.86) made a similar property-backed case, arguing the $2 billion, 20-plus hotel portfolio alone justifies the market cap given rising replacement costs and limited new supply, with cinemas, Thredbo and the management hotel business effectively coming for free. Perpetual's December 2025 note also flagged catalysts over the next 12 months from monetising CBD property and continued strong hotel RevPAR growth.
What are the key risks to the EVT Ltd investment thesis, according to fund managers?
Several managers pointed to the cinema/entertainment division as the main source of volatility. Perpetual Asset Management (August 2025, ~$14.07) noted admissions recovering more slowly than expected, weaker Australian and German media revenue, and limited visibility on catalysts, with management cautious on asset-divestment timing. In December 2025 (~$12.56) Perpetual observed the stock falling 9% despite no company news, as box office trends lagged optimistic expectations; it described cinema trends as “highly volatile and hard to forecast,” with an outsized impact on short-term share pricing despite representing only a small part of overall value, attributing this to the market's short-term focus over fundamental value. Oracle Advisory Group (December 2025, ~$12.56) was the most bearish, saying its thesis relied on EVT trading below property NTA, that it had trimmed holdings above $17 and in hindsight should have sold out entirely, and that as “not a high-growth company” it saw minimal upside from current levels. Perpetual's June 2026 commentary also noted EVT sits across cyclical, volatile industries facing headwinds including an “oil crisis,” and Rutledge's June 2026 pitch likewise flagged the cinema arm's ongoing volatility, even while regarding it as a small share of the business.
What is the short interest in EVT Ltd (ASX:EVT)?
The short interest in EVT Ltd (ASX:EVT) is 0.91% which makes it the 217th most shorted stock on the ASX. Of the 162.5M shares that EVT Ltd has on issue, 1.5M have been sold short.
What does EVT Ltd (ASX:EVT) do?
EVT Ltd. is an Australian holding company founded in 1910, headquartered in Sydney. The company operates across five key segments: Entertainment (cinema exhibition in Australia/New Zealand, cinema technology, and State Theatre), Entertainment Germany (German cinema operations), Hotels and Resorts (ownership and management in Australia/New Zealand), Thredbo Alpine Resort (resort operations and property development), and Property and Other Investments (rental property, investment properties, and FVOCI investments). EVT focuses on delivering professional services within the entertainment, hospitality, and tourism sectors.