Market cap
$926.4m
End-of-day close multiplied by current shares on issue.
ARG · NZX
Argosy Property is an NZX-listed property / property investment company with FY21 - FY26 of published result briefings.
Snapshot
FY26, released 20 May 2026
| Metric | Value | Change |
|---|---|---|
| Revenue | $120.8m | ↑ +106.9% |
| NPAT | $127.7m | ↑ +287.0% |
| Operating cash flow | $67.4m | ↑ +109.8% |
| Net debt | $852.1m | ↑ +12.4% |
| ROE % | 9.1% | ↑ +6.4pp |
| DPS | 1.7c | — Flat |
| Payout ratio vs NPAT % | 44.9% | ↓ -126.0pp |
| Annual payout ratio vs EPS % | 44.9% | ↓ -126.1pp |
| PBT | $140.4m | ↑ +260.9% |
| FCF pre-lease | -$2.9m | ↓ -134.6% |
Source: latest published briefing (FY26, released 20 May 2026). Change compares against the prior equivalent period: FY25, released 20 November 2024.
Valuation
A compact read on what the market price implies next to the latest filing data. The numbers are a starting point for comparison, not a recommendation.
The latest close and share count context for the market price.
Market cap
$926.4m
End-of-day close multiplied by current shares on issue.
How the market price compares with recent earnings and cash-flow inputs.
P/E
7.25x
Recent market cap compared with trailing earnings.
EPS
0.15
Recent filing-derived earnings per share.
PEG
5.18x
P/E compared with recent earnings growth.
EV/EBITDA
Not available
Not available for this company right now.
P/FCF
Not available
Not meaningful when free cash flow is negative or unavailable.
P/B
0.66x
Market value compared with latest reported equity.
Yield and fund-style valuation where the company shape supports it.
Dividend yield
6.3%
Trailing dividends compared with the latest close.
Total return
Not available
Available once dividend and adjustment data are verified.
Daily closes use the full available width, with hover and touch readouts against real observations. Expand opens the chart at reading size.
Five years of daily closes, as at close, 5 June 2026. Weekends, suspensions, and listing gaps stay as natural gaps in the time scale.
Indexed lines compare direction from the first positive comparable filing point. The axis is an index, not dollars or cents.
Chat
Ask follow-up questions about Argosy Property's latest result and company history.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Longitudinal view
The latest period is shown first.
| Metric | FY2612 MONTHS20 May 2026 | FY2512 MONTHS20 November 2024 | FY2412 MONTHS29 November 2023 | FY2312 MONTHS22 November 2022 | FY2212 MONTHS23 November 2021 | FY2112 MONTHS19 May 2021 | Trend |
|---|---|---|---|---|---|---|---|
| Revenue | $120.8m | $58.4m | $58.4m | $69.9m | $53.1m | $107.7m | Chart |
| Revenue growth % | 3.3% | -49.9% | -3.3% | -33.5% | -50.7%Outside range low revenue growth. -50.7%; 5-period range -49.9% to 6.9%. Revenue growth: -50.7%, below normal range; 5-period mean -15.3%, range -49.9%-6.9%. | 6.9%Outside range high revenue growth. 6.9%; 5-period range -50.7% to 3.3%. Revenue growth: 6.9%, above normal range; 5-period mean -26.8%, range -50.7%-3.3%. | Chart
|
| Operating profit | — | $52.8m | — | $49.8m | $47.2m | — | Chart |
| Operating profit margin % | — | 90.5% | — | 71.2% | 88.9% | — | Chart |
| PBT | $140.4m | $38.9m | -$16.8m | $17.1m | $130.9m | $248.4m | Chart |
| PBT growth % | 1.7% | — | — | -92.9% | -47.3% | 100.5% | Chart |
| NPAT | $127.7m | $33m | -$19.8m | $10.7m | $127m | $241.7m | Chart |
| NPAT growth % | 1.4% | — | — | -95.5% | -47.5% | 102.9% | Chart |
| Operating cash flow | $67.4m | $32.1m | $35.9m | $37.6m | $40.4m | $88.4m | Chart |
| OCF / Operating profit % | — | 60.8% | — | 75.4% | 85.7% | — | Chart |
| FCF pre-lease | -$2.9m | $8.4m | $16.6m | $7.5m | $9.7m | $19.6m | Chart |
| DPS | 1.7c | 1.7c | 1.7c | 1.7c | 1.6c | 1.6c | Chart |
| Payout ratio vs NPAT % | 44.9% | 170.9%Outside range high payout ratio versus npat. 171%; 3-period range 22.2% to 44.9%. Payout ratio versus NPAT: 171.0%, above normal range; 3-period mean 36.8%, range 22.2%-44.9%. | — | — | 43.4% | 22.2%Outside range low payout ratio versus npat. 22.2%; 3-period range 43.4% to 171%. Payout ratio versus NPAT: 22.2%, below normal range; 3-period mean 86.4%, range 43.4%-171.0%. | Chart
|
| Annual payout ratio vs EPS % | 44.9% | 171.0% | — | — | 43.4% | 22.2% | Chart |
| ROE % | 9.1% | 2.7% | -1.5%Outside range low roe. -1.5%; 4-period range 0.7% to 18.9%. ROE: -1.5%, below normal range; 4-period mean 9.5%, range 0.7%-18.9%. | 0.7% | 9.2% | 18.9%Unprecedented high roe. 18.9%; 4-period range -1.5% to 9.2%. ROE: 18.9%, unprecedented high; 4-period mean 4.4%, range -1.5%-9.2%. | Chart
|
| Net debt | $852.1m | $758m | $770.9m | $731.4m | $670.8m | $752.8m | Chart |
| Net debt / Operating profit | — | 14.36x | — | 14.69x | 14.21x | — | Chart |
| Debtor days | 9 | 9 | 5Outside range low debtor days. 5d; 5-period range 6d to 18d. Debtor days: 5.3 days, below normal range; 5-period mean 11.6 days, range 6.1 days-18.3 days. | 16 | 18Unprecedented high debtor days. 18d; 5-period range 5d to 16d. Debtor days: 18.3 days, unprecedented high; 5-period mean 9.0 days, range 5.3 days-15.6 days. | 6 | Chart
|
| Total assets | $2.3b | $2.1b | $2.2b | $2.3b | $2.2b | $2.2b | Chart |
Reference: annolyse.ai/companies/arg
These charts use verified published filing periods only. Gaps are not interpolated, and mixed half-year/full-year histories are split into separate series.
Reported revenue across covered periods.
Like-period revenue growth where comparable.
Company-specific earnings measure where disclosed.
EBITDA-equivalent margin where revenue and earnings are source-backed.
Statutory profit after tax.
Cash generated from operations.
Additional verified filing metrics for this company. Each point links back to a published briefing period in the source data contract.
Cash conversion against earnings.
Operating cash flow less capex before leases.
Return on equity.
Borrowings less cash; negative values indicate net cash.
Leverage ratio, suppressed where earnings are not meaningful.
Dividend per share declared for the period.
Dividend payout against statutory NPAT.
Receivables days where the working-capital inputs are source-backed.
Per-period working-capital absorption or release, from the same published history. Positive values are working-capital build; negative values are release.
The setup & the reality
The latest result is checked against what the prior briefing said to watch.
Historical setup
From HY25 interim NPAT $33.0m as revaluation turns positive; NTA edges to $1.46
The FY25 full-year dividend guidance of 6.65 cents per share is reaffirmed, consistent with FY24. No quantitative earnings or NTA target was provided, and no forward-work backlog disclosure is supplied, so investors have no like-for-like FY25 anchor to compare HY25 against. Capex of $23.7m in the half — 40.7% of revenue — reflects continued development activity on the existing portfolio, but the supplied excerpts do not quantify the FY25 capex envelope or the second-half build profile.
Because the prior comparable period is the wrong shape, this briefing cannot assess whether HY25 is tracking ahead of, on, or behind an implicit FY25 internal plan beyond the dividend reaffirmation itself.
Open questions
This briefing cannot assess underlying rental performance, occupancy, WALT, valuation cap-rate movement, or development pacing because the supplied excerpts do not include those operating metrics.
Archive
Every published Annolyse briefing for this company appears here in reverse chronological order.
FY26 · Released 20 May 2026
Operating cash flow rose 14.2% but a 22.5% capex lift pushed pre-lease free cash flow to a five-year low.
FY25 · Released 20 November 2024
Period-shape mismatch against FY24 distorts growth rates; gearing rose to 37.2% with AFFO payout at 105%.
FY24 · Released 29 November 2023
Operating profit and pre-lease FCF both improved, but fair-value losses dragged statutory equity down 11.5% to $1,287.8m.
FY23 · Released 22 November 2022
The period-shape mismatch makes the headline declines non-comparable, while FY23 dividend guidance of 6.65 cents per share is reiterated.
FY22 · Released 23 November 2021
Interim profit halved against an unusually strong prior comparable, but rental cash flow, gearing and NTA all moved in the right direction.
FY21 · Released 19 May 2021
Rental revenue rose 6.9% and operating cash flow climbed 47.9%, but the profit jump reflects valuation gains rather than rental growth.
Get the next Argosy Property result briefing and five-year history updates by email.