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Home CompaniesBWP Trust

BWP Trust

Real Estate REIT - Industrial
PortfolioPortfolio WatchlistWatchlist
Company price
3.69 AUD 0.01 ( 0.27%)
Last update at 2026-11-06T06:17:00Z
VOLUME
807045
Market Cap
2890.44M
P/E
6.57

Momentum Score

…

BWP Trust was established and listed on the Australian Securities Exchange in 1998, BWP Trust is a real estate investment trust investing in and managing commercial properties throughout Australia. Since its inception, and prior to management internalisation on 1 August 2025, the Trust was externally managed by BWP Management Limited, the appointed responsible entity, with 100 per cent of BWPM's share capital owned by Wesfarmers Limited. On 28 July 2025, BWP Trust unitholders approved the internalisation of the management of the Trust, where BWPM and its subsidiary were purchased from Wesfarmers by the Trust's unitholders through a new entity, BWP Property Group Ltd. This resulted in the formation of a stapled group comprising the Trust and the Company. The stapled securities of the BWP Group comprise one unit in the BWP Trust and one share in BWPPG. Stapled securities cannot be traded or dealt with separately. The Trust and the Company remain separate legal entities in accordance with the Corporations Act 2001. BWP Trust continues to be managed by the responsible entity, BWPM, now a subsidiary of the Company, which is appointed under BWP Trust's constitution and operates under an Australian Financial Services Licence. BWP Trust was established in 1998 and was incorporated in Australia.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
3.67
Low
3.73
High
52 Week Price Range
3.40
Low
4.01
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

BWP Trust is an Australian listed property trust that owns and leases large-format retail and warehouse properties, with a portfolio heavily occupied by Bunnings stores. Long-term growth drivers include stable rental cash flows from long-duration leases to a national retailer, potential rental indexation and selective portfolio acquisitions or development, which may benefit investors seeking predictable income exposure to the defensive large-format retail property segment. Investors may find the trust attractive for its income focus and tenant credit profile.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
3.68
Dividend Yield
5.30%
Revenue TTM
209.33M
Revenue Per Share
0.29
Gross Profit TTM
207.47M
Debt / Equity
0.23
ROE
13.17%
Net Debt
641.35M
ROCE
4.37%
Diluted EPS TTM
0.56

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Type yearly yearly yearly yearly yearly
Date 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Income before tax 408.80M 265.58M 180.22M 36.69M 486.64M
Net income 408.40M 265.58M 180.22M 36.69M 486.64M
Selling general administrative 7.11M 25.41M 22.02M 21.48M 19.41M
Gross profit 190.99M 168.51M 145.59M 131.11M 129.38M
Ebit - - 205.29M 54.24M 129.31M
Ebitda 451.55M 300.61M 205.67M 53.41M 128.48M
Depreciation and amortization - - 0.37M -0.83M -0.83M
Operating income 180.13M 167.41M 155.89M 130.27M 128.48M
Other operating expenses 29.20M 35.29M 29.75M 17.86M 16.12M
Interest expense 42.75M 35.03M 25.44M 16.72M 13.78M
Tax provision 0.40M 0.00M 0.00M 0.00M 0.00M
Interest income 2.03M 135.90M 0.75M 76.86M 0.04M
Net interest income -40.72M -34.43M -24.69M -16.48M -13.74M
Income tax expense 0.40M - - 0.83M 128.48M
Total revenue 209.33M 202.70M 174.46M 158.16M 153.27M
Total operating expenses 10.86M 1.10M 0.89M 0.83M 0.90M
Cost of revenue 18.34M 34.19M 28.86M 27.05M 23.89M
Total other income expense net 228.67M 98.17M 36.27M -93.58M 349.49M
Net income from continuing ops 408.40M 265.58M 180.22M 36.69M 486.64M
Net income applicable to common shares - 265.58M 180.22M 36.69M 486.64M
Breakdown 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Type yearly yearly yearly yearly yearly
Date 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Total assets 4234.38M 3745.92M 3586.33M 2960.19M 3021.92M
Intangible assets 134.29M - - - -
Other current assets - 22.81M -31.94M 4.18M 6.66M
Total liab 871.49M 906.29M 878.78M 554.31M 535.58M
Total stockholder equity 3362.88M 2839.64M 2707.55M 2405.88M 2486.34M
Other current liab 92.56M - 84.70M 72.84M 71.28M
Common stock 1440.34M 1191.17M 1191.17M 945.56M 945.56M
Capital stock 1440.34M 1191.17M 1191.17M 945.56M 945.56M
Retained earnings 1902.16M 1648.62M 1516.12M 1459.98M 1540.78M
Good will 134.29M - - - -
Other assets - 0.00M - 0.34M -
Cash 117.34M 26.46M 27.30M 16.83M 11.86M
Total current liabilities 112.57M 249.94M 107.18M 85.84M 79.97M
Net debt 641.35M 781.70M 744.30M 451.64M 443.75M
Short term debt - 0.00M - 0.00M 0.00M
Short long term debt - 151.98M - - -
Short long term debt total 758.69M - 771.60M 468.47M 455.60M
Other stockholder equity - -0.16M - -2405.54M -2486.34M
Property plant equipment - - - - 3001.20M
Total current assets 131.24M 63.62M 51.46M 23.25M 20.72M
Net tangible assets - - - - 2486.34M
Net receivables 13.90M 0.73M 4.64M 2.24M 2.20M
Long term debt 758.69M 657.35M 771.60M 466.00M 455.60M
Accounts payable 20.02M 11.79M 22.48M 13.00M 8.69M
Accumulated other comprehensive income 20.39M - 0.27M 0.34M 0.34M
Non currrent assets other 6.07M - 0.27M -2936.60M -3001.20M
Non current assets total 4103.14M 3682.30M 3534.86M 2936.94M 3001.20M
Long term debt total - 657.35M - 466.00M 452.70M
Breakdown 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Type yearly yearly yearly yearly yearly
Date 2026-06-30 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Investments 23.84M -25.40M -23.14M -10.15M 4.35M
Change to liabilities - - - - 0.00M
Total cashflows from investing activities -78.86M -25.40M -23.14M -10.15M 4.35M
Net borrowings -49.47M 36.56M 28.48M - -19.11M
Total cash from financing activities 35.25M -95.22M -95.16M -104.62M -136.60M
Change to operating activities - - - - -1.47M
Net income 408.40M 265.58M 180.22M 36.69M 486.64M
Change in cash 90.88M -0.84M 10.47M 4.98M -21.21M
Begin period cash flow 26.46M 27.30M 16.83M 11.86M 33.07M
End period cash flow 117.34M 26.46M 27.30M 16.83M 11.86M
Total cash from operating activities 134.50M 119.78M 128.76M 119.75M 111.04M
Issuance of capital stock 227.73M - - - -
Other cashflows from investing activities -7.22M -25.40M -23.14M -10.15M 4.35M
Dividends paid 135.44M -131.78M -117.49M -117.49M -117.49M
Change to account receivables 1.61M -3.72M -4.04M 2.39M -0.51M
Sale purchase of stock -1.53M - -6.15M - -
Other cashflows from financing activities - 0.00M -6.15M 12.87M 110.00M
Change to netincome - - - - -373.62M
Capital expenditures 0.00M 0.00M 0.00M 0.00M 0.00M
Change in working capital -3.17M -14.01M 10.71M 2.39M -0.51M
Other non cash items -270.73M 133.79M -62.17M 80.67M -375.09M
Free cash flow 134.50M 119.78M 128.76M 119.75M 111.04M

Peer Comparison*

Sector: Real Estate Industry: REIT - Industrial

Stock Name
Change
(AUD)
Price
(AUD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
BWP
BWP Trust		 0.01
0.27%		 3.69 6.57 18.69 13.81 0.85 16.96 7.79
CIP
Centuria Industrial REIT		 0.03
1.02%		 2.97 11.31 15.04 7.16 0.73 12.89 14.15
SKG
STORAGE KING GROUP UNITS		 0.01
1.32%		 1.16 9.50 - 6.05 0.62 11.24 13.99
DXI
Dexus Industria REIT		 0.02
0.82%		 2.47 18.85 14.06 6.53 0.69 16.21 12.35

Profile*

BWP Trust

BWP Trust was established and listed on the Australian Securities Exchange in 1998, BWP Trust is a real estate investment trust investing in and managing commercial properties throughout Australia. Since its inception, and prior to management internalisation on 1 August 2025, the Trust was externally managed by BWP Management Limited, the appointed responsible entity, with 100 per cent of BWPM's share capital owned by Wesfarmers Limited. On 28 July 2025, BWP Trust unitholders approved the internalisation of the management of the Trust, where BWPM and its subsidiary were purchased from Wesfarmers by the Trust's unitholders through a new entity, BWP Property Group Ltd. This resulted in the formation of a stapled group comprising the Trust and the Company. The stapled securities of the BWP Group comprise one unit in the BWP Trust and one share in BWPPG. Stapled securities cannot be traded or dealt with separately. The Trust and the Company remain separate legal entities in accordance with the Corporations Act 2001. BWP Trust continues to be managed by the responsible entity, BWPM, now a subsidiary of the Company, which is appointed under BWP Trust's constitution and operates under an Australian Financial Services Licence. BWP Trust was established in 1998 and was incorporated in Australia.

Level 14, Brookfield Place Tower 2, Perth, WA, Australia, 6000

61 8 9327 4356

https://www.bwptrust.com.au

14

Name Title Year Born
Mr. Michael James Wedgwood B.Com., BCom, GAICD, M.Sc., MSc (Finance) MD & Director 1963
Mr. David Hawkins BCom, FCA Head of Fin. NA
Ms. Sarah Sampimon Office Mang. NA
Mr. Andrew Ross AAPI, BBus (Val) Head of Property NA
Ms. Karen A. Lange FCIS, FCPA, M.Bus, MAICD Company Sec. NA
Mr. Mark Christian Scatena B.E., M.B.A. MD & Director NA
Mr. David Hawkins BCom, FCA Head of Finance NA
Ms. Sarah Sampimon Office Manager NA
Ms. Karen A. Lange FCIS, FCPA, M.Bus, MAICD Company Secretary NA
Mr. Mark Christian Scatena B.E., M.B.A. MD & Director NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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