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Dexus is a leading Australasian fully integrated real asset group, managing a high-quality Australasian real estate and infrastructure portfolio valued at 51.4 billion dollars. The Dexus Platform includes the Dexus listed portfolio and the funds management business. The 15.3 billion dollars listed portfolio includes direct and indirect ownership of office, industrial, retail, healthcare, infrastructure, alternatives and other investments. They manage a further 36.1 billion dollars of investment in our funds management business which connects third party capital with exposure to quality sector specific and diversified real asset products. The funds within this business benefit from Dexus's Platform capabilities. The Platform's 12.8 billion dollars real estate development pipeline provides the opportunity to grow both the listed and funds' portfolios and enhance future returns. They are deeply connected to our purpose unlock potential, create tomorrow, reflecting our unique ability to create value for our people, customers, investors and communities over the long term. Their sustainability approach focuses on the priority areas where we believe we can make the most impact: Customer Prosperity, Climate Action and Enhancing Communities. Dexus is supported by more than 33,900 investors from 28 countries. With more than four decades of expertise in real asset investment, funds management, asset management and development, they have a proven track record in capital and risk management and delivering returns for investors. Dexus was established in October 2004 and was incorporated in Australia.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Dexus is a listed Australian real estate owner and manager focused on office and industrial properties and a funds-management business serving institutional clients. Long-term growth could be supported by office-market recovery, ongoing industrial/logistics demand, recurring fee income and active development and asset management. Investors may find it attractive for scale, portfolio diversification across major Australian markets and predictable income characteristics.
Material risks include property-cycle and interest-rate exposure, structural shifts in office occupancy, leasing and development execution risk, and concentration in Australian markets.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| 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 | 480.40M | 134.70M | -1593.50M | -741.50M | 1631.10M |
| Minority interest | 128.20M | 20.40M | 4.90M | 67.50M | - |
| Net income | 482.90M | 156.50M | -1578.90M | -685.20M | 1615.90M |
| Selling general administrative | 266.60M | 258.10M | 292.50M | 194.90M | 167.50M |
| Gross profit | 461.70M | 701.30M | 646.90M | 639.70M | 591.20M |
| Reconciled depreciation | 21.40M | 18.10M | 13.90M | 8.40M | 9.60M |
| Ebit | 725.60M | 337.60M | -20.20M | -528.10M | 1774.60M |
| Ebitda | 747.80M | 355.70M | -6.30M | -519.70M | 1784.20M |
| Depreciation and amortization | 22.20M | 18.10M | 13.90M | 8.40M | 9.60M |
| Operating income | 227.30M | 403.60M | 324.20M | 440.80M | 1269.90M |
| Other operating expenses | 496.60M | 517.60M | 556.70M | 1433.90M | 436.80M |
| Interest expense | 245.20M | 202.90M | 168.40M | 150.20M | 140.70M |
| Tax provision | -1.80M | -1.40M | -9.70M | 11.20M | 15.20M |
| Interest income | 47.90M | 30.00M | 21.30M | 1022.60M | 2.40M |
| Net interest income | -186.00M | -179.70M | -148.00M | -163.40M | -139.40M |
| Income tax expense | -1.80M | -1.40M | -9.70M | 11.20M | 15.20M |
| Total revenue | 723.90M | 921.20M | 880.90M | 837.70M | 871.90M |
| Total operating expenses | 234.40M | 297.70M | 322.70M | 222.40M | 249.90M |
| Cost of revenue | 262.20M | 219.90M | 234.00M | 198.00M | 280.70M |
| Total other income expense net | 253.10M | -268.90M | -1917.70M | -995.40M | 1429.20M |
| Net income from continuing ops | 482.20M | 136.10M | -1583.80M | -752.70M | 1615.90M |
| Net income applicable to common shares | - | 156.50M | -1583.80M | -752.70M | 1615.90M |
| 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 | 15218.50M | 15388.60M | 15822.40M | 18480.20M | 19192.10M |
| Intangible assets | 480.50M | 508.20M | 601.30M | 610.70M | 438.10M |
| Other current assets | 21.80M | 48.70M | -292.70M | 83.00M | 36.70M |
| Total liab | 5249.10M | 5475.50M | 5657.60M | 6215.90M | 5624.90M |
| Total stockholder equity | 9947.20M | 9898.10M | 10164.80M | 12264.30M | 13567.20M |
| Other current liab | - | - | -177.80M | 118.20M | 4.30M |
| Common stock | 7136.80M | - | 7155.10M | 7155.10M | 7155.10M |
| Capital stock | 7136.80M | 7155.10M | 7155.10M | 7155.10M | 7155.10M |
| Retained earnings | 2823.00M | 2742.70M | 2995.90M | 5053.30M | 6361.00M |
| Good will | 44.20M | 52.00M | 66.50M | 68.70M | 49.90M |
| Other assets | - | - | 15822.40M | 387.30M | 530.40M |
| Cash | 57.80M | 65.30M | 54.00M | 123.90M | 75.30M |
| Cash and equivalents | - | - | - | 123.90M | 75.30M |
| Total current liabilities | 1085.20M | 1464.80M | 699.70M | 1066.60M | 555.10M |
| Current deferred revenue | - | - | 668.60M | 495.90M | 472.50M |
| Net debt | 4596.60M | 4657.40M | 4950.50M | 5221.90M | 4867.00M |
| Short term debt | 1085.20M | - | 177.80M | 405.40M | 37.30M |
| Short long term debt | 1073.30M | 909.70M | 166.00M | 403.30M | 33.10M |
| Short long term debt total | 4654.40M | - | 5004.50M | 5345.80M | 4942.30M |
| Other stockholder equity | - | - | 0.00M | -12208.40M | -13516.10M |
| Property plant equipment | - | - | - | 17.80M | 28.60M |
| Total current assets | 364.60M | 532.30M | 661.90M | 1873.90M | 747.30M |
| Long term investments | 9615.50M | 9089.80M | 8959.10M | 9481.90M | 9068.40M |
| Short term investments | - | - | - | 64.70M | 33.10M |
| Net receivables | 306.80M | 16.80M | 238.70M | 151.80M | 166.50M |
| Long term debt | 3500.70M | 3813.00M | 4745.90M | 4927.90M | 4882.30M |
| Inventory | - | - | 60.20M | 30.60M | 54.40M |
| Accounts payable | 41.00M | 57.00M | 31.10M | 47.10M | 41.00M |
| Accumulated other comprehensive income | -12.60M | - | 13.80M | 55.90M | 51.10M |
| Non currrent assets other | 92.40M | 1.20M | 5441.00M | -10284.10M | -9696.80M |
| Non current assets total | 14853.90M | 14856.30M | 15160.50M | 16606.30M | 18444.80M |
| Capital lease obligations | 80.40M | 106.50M | 92.60M | 14.60M | 26.90M |
| Long term debt total | - | - | - | 4940.40M | 4905.00M |
| 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 | -370.40M | -109.60M | 311.00M | -579.80M | 41.20M |
| Total cashflows from investing activities | -401.20M | -109.60M | 311.00M | -579.80M | 41.20M |
| Net borrowings | -112.20M | -236.20M | -437.60M | - | - |
| Total cash from financing activities | -545.50M | -690.40M | -994.40M | -142.50M | -569.50M |
| Net income | 1.40M | 156.50M | -1583.80M | -752.70M | 1615.90M |
| Change in cash | -7.50M | 11.30M | -69.90M | 48.60M | 31.80M |
| Begin period cash flow | 65.30M | 54.00M | 123.90M | 75.30M | 43.50M |
| End period cash flow | 57.80M | 65.30M | 54.00M | 123.90M | 75.30M |
| Total cash from operating activities | 939.20M | 811.30M | 613.50M | 770.90M | 560.10M |
| Depreciation | 22.20M | - | 13.90M | 6.90M | 12.30M |
| Other cashflows from investing activities | - | 5.10M | 2.50M | -571.80M | 47.50M |
| Dividends paid | 401.20M | -433.60M | -540.90M | -572.20M | -548.60M |
| Change to inventory | - | - | - | 23.80M | 123.80M |
| Change to account receivables | - | - | - | 30.50M | -12.10M |
| Sale purchase of stock | -13.80M | -15.80M | -11.60M | -7.50M | -16.30M |
| Other cashflows from financing activities | -5.40M | -4.80M | -15.90M | -7.50M | -16.30M |
| Capital expenditures | 33.00M | 13.20M | 1.30M | 8.00M | 6.30M |
| Change in working capital | 41.80M | 26.80M | -107.20M | 54.30M | 111.70M |
| Stock based compensation | - | - | - | 10.31M | 8.43M |
| Other non cash items | 873.80M | 784.50M | 2304.50M | 1516.70M | -1068.10M |
| Free cash flow | 906.20M | 798.10M | 611.10M | 762.90M | 553.80M |
Sector: Real Estate Industry: REIT - Office
|
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) |
|---|---|---|---|---|---|---|---|---|
| DXS Dexus |
0.07 1.17% |
6.03 | 10.84 | 15.36 | 4.79 | 0.63 | 16.37 | 14.86 |
| GOZ Growthpoint Properties Australia |
0.02 0.97% |
2.09 | 17.25 | 8.73 | 4.68 | 0.68 | 10.49 | 17.74 |
| CMW Cromwell Property Group |
0.01 1.39% |
0.36 | 7.20 | 8.03 | 4.71 | 0.61 | 9.33 | 8.94 |
| COF Centuria Office REIT |
- -% |
0.91 | 10.06 | 7.75 | 3.53 | 0.54 | 9.10 | 13.16 |
Dexus is a leading Australasian fully integrated real asset group, managing a high-quality Australasian real estate and infrastructure portfolio valued at 51.4 billion dollars. The Dexus Platform includes the Dexus listed portfolio and the funds management business. The 15.3 billion dollars listed portfolio includes direct and indirect ownership of office, industrial, retail, healthcare, infrastructure, alternatives and other investments. They manage a further 36.1 billion dollars of investment in our funds management business which connects third party capital with exposure to quality sector specific and diversified real asset products. The funds within this business benefit from Dexus's Platform capabilities. The Platform's 12.8 billion dollars real estate development pipeline provides the opportunity to grow both the listed and funds' portfolios and enhance future returns. They are deeply connected to our purpose unlock potential, create tomorrow, reflecting our unique ability to create value for our people, customers, investors and communities over the long term. Their sustainability approach focuses on the priority areas where we believe we can make the most impact: Customer Prosperity, Climate Action and Enhancing Communities. Dexus is supported by more than 33,900 investors from 28 countries. With more than four decades of expertise in real asset investment, funds management, asset management and development, they have a proven track record in capital and risk management and delivering returns for investors. Dexus was established in October 2004 and was incorporated in Australia.
| Name | Title | Year Born |
|---|---|---|
| Mr. Darren Joseph Steinberg BEc, F.A.C.I.D., FAICD, FAPI, FRICS | CEO & Exec. Director of DEXUS Funds Management Limited | NA |
| Ms. Keir L. Barnes | Chief Financial Officer | NA |
| Mr. Ross G. Du Vernet | Chief Investment Officer of Dexus Funds Management Limited | NA |
| Ms. Deborah Claire Coakley | Exec. Gen. Mang. of Funds Management | NA |
| Ms. Melanie Bourke | Chief Operating Officer of Dexus Funds Management Limited | NA |
| Ms. Rowena Causley | Head of Investor Relations | NA |
| Mr. Brett D. Cameron B.A., GAICD, L.L.B. | Gen. Counsel & Company Sec. of Dexus Funds Management Limited | NA |
| Mr. Paul Oates | Group Gen. Mang. of Devel. | NA |
| Mr. Christopher Hynes | Head of Office & Industrial Leasing | NA |
| Mr. Richard Garing | Regional Gen. Mang. of Office & Industrial | NA |
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