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Cromwell Property Group
(Sydney:CMW)
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Rating:57Neutral
Price Target:
AU$0.41
▲(2.25% Upside)
Action:Reiterated
Date:08/28/26
The score is primarily driven by improving financial resilience from significant deleveraging, tempered by multi-year revenue decline, volatile profitability, and a downward free-cash-flow trend. Technical indicators are broadly bearish and weigh on the score, while valuation support from a low P/E and high dividend yield partially offsets these risks.
Positive Factors
Material deleveraging
Substantial debt reduction lowers refinancing and interest-rate risk, strengthens resilience across property cycles, and gives Cromwell greater flexibility to manage assets and obligations over the next several years.
Negative Factors
Long-term revenue contraction
The multi-year revenue decline indicates reduced earnings scale and potentially a smaller asset base. Even with a recent rebound, weaker recurring revenue can constrain distributions, investment capacity, and future growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Material deleveraging
Substantial debt reduction lowers refinancing and interest-rate risk, strengthens resilience across property cycles, and gives Cromwell greater flexibility to manage assets and obligations over the next several years.
Read all positive factors
Cromwell Property Group (CMW) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$982.08M
Dividend Yield7.89%
Average Volume (3M)2.27M
Price to Earnings (P/E)7.3
Beta (1Y)0.68
Revenue Growth0.11%
EPS GrowthN/A
CountryAU
Employees350
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)0.05
Shares Outstanding2,618,866,700
10 Day Avg. Volume2,981,062
30 Day Avg. Volume2,265,623
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)0.75
Price to Sales (P/S)6.41
P/FCF Ratio18.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.04
Revenue Forecast (FY)AU$178.49M
Cromwell Property Group Business Overview & Revenue Model
Company Description
Operating as a versatile real estate investment and management enterprise, Cromwell Property Group (ASX:CMW) maintains a presence across three continents and garners support from a worldwide investor community. By June 30, 2020, the company's fina...
How the Company Makes Money
Cromwell Property Group primarily makes money through (1) recurring income from property investments it owns and (2) fees earned from managing property and investment vehicles for third-party capital.
1) Property investment income (own balance sh...
Cromwell Property Group Earnings Call Summary
Earnings Call Date:Aug 26, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 24, 2027
Earnings Call Sentiment Positive
The call was predominantly positive, highlighting 11.4% growth in funds under management, 5% FFO growth, resilient occupancy and valuations, new institutional capital, industrial platform expansion, strong liquidity, and an increased FY 2027 distribution target. These strengths were tempered by a temporary vacancy, substantial tenant incentives and lifecycle CapEx, a potentially weaker FY 2027 performance-fee contribution, challenging development conditions, and cautious commercial property sentiment.Positive Updates
Funds Under Management and FFO Growth
Group funds under management grew by 11.4%, supported by AUD 748 million secured from new institutional investors. Funds from operations increased by 5% to AUD 110.3 million.
Negative Updates
Volatile Market Environment and Cautious Sentiment
Management said the global environment remains volatile and that market sentiment toward commercial property remains cautious. Transaction activity has also occurred despite elevated geopolitical disruption.
Read all updates
Q4-2026 Updates
Positive
Negative
Funds Under Management and FFO Growth
Group funds under management grew by 11.4%, supported by AUD 748 million secured from new institutional investors. Funds from operations increased by 5% to AUD 110.3 million.
Read all positive updates
Company Guidance
For FY 2027, Cromwell is targeting an increased distribution of AUD 0.031 per security; FY 2027 is “probably a bit of a trough year,” with the lease expiry profile the best guide for how FFO will trend, although it is “very difficult to predict” when tenants will perform their leases, with “some significant expiries” coming up in 2028 and in 2032. The company expects “a reasonably large CapEx load” and “similar sorts of amounts of what you’re seeing in FY 2026 to FY 2027,” a stronger investment portfolio performance, particularly as the vacancy at 400 George Street is filled, and otherwise performance “broadly in line with what you are seeing”; performance fees are expected to be “not as much as performance fee that you will see in FY 2026,” and “we are not expecting that good year to extend into FY 2027.” There is “No further consideration in FY 2027,” with deferred consideration payable after three years, at the end of FY 2027, based on the profit made from the venture.Cromwell Property Group Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
63
Positive
Cash Flow
58
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 177.60M | 176.60M | 219.70M | 349.50M | 352.90M |
| Gross Profit | 128.50M | 145.60M | 182.00M | 268.90M | 280.10M |
| EBITDA | 185.30M | -45.90M | 115.20M | -360.40M | 365.60M |
| Net Income | 135.40M | -22.60M | -541.10M | -443.80M | 263.20M |
Balance Sheet | |||||
| Total Assets | 2.44B | 2.27B | 3.08B | 4.22B | 5.05B |
| Cash, Cash Equivalents and Short-Term Investments | 50.10M | 79.30M | 292.30M | 113.90M | 286.00M |
| Total Debt | 775.40M | 675.90M | 1.39B | 1.82B | 2.19B |
| Total Liabilities | 933.00M | 816.50M | 1.49B | 2.00B | 2.34B |
| Stockholders Equity | 1.51B | 1.45B | 1.59B | 2.21B | 2.71B |
Cash Flow | |||||
| Free Cash Flow | 63.10M | 102.00M | 108.10M | 147.90M | 174.80M |
| Operating Cash Flow | 63.30M | 102.60M | 113.00M | 149.20M | 175.60M |
| Investing Cash Flow | -110.90M | 384.40M | 602.10M | 196.90M | 126.30M |
| Financing Cash Flow | 14.80M | -720.60M | -519.30M | -521.40M | -150.60M |
Cromwell Property Group Technical Analysis
Negative
0.40
Price Trends
0.42
Negative
0.42
Negative
0.42
Negative
Market Momentum
-0.01
Positive
28.30
Positive
15.74
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CMW, the sentiment is Negative. The current price of 0.4 is below the 20-day moving average (MA) of 0.41, below the 50-day MA of 0.42, and below the 200-day MA of 0.42, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 28.30 is Positive, neither overbought nor oversold. The STOCH value of 15.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CMW.
Cromwell Property Group Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | AU$8.93B | 8.32 | 9.83% | 4.90% | -7.59% | 178.60% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | AU$6.22B | 13.10 | 4.83% | 6.46% | -28.16% | 250.74% | |
59 Neutral | AU$1.10B | 18.50 | 3.52% | 7.15% | 3.26% | -32.26% | |
57 Neutral | AU$982.08M | 7.35 | 8.95% | 7.06% | 0.11% | ― | |
56 Neutral | AU$1.56B | 17.39 | 3.90% | 8.60% | -0.03% | ― | |
54 Neutral | AU$8.99B | 25.11 | 20.47% | 2.28% | -19.06% | 6.95% |
* Real Estate Sector Average
AU:CMW
Cromwell Property Group
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Cromwell Property Group Corporate Events
Cromwell lifts FFO and expands investment platform on resilient portfolio
Aug 27, 2026
Cromwell Property Group reported a 5% rise in funds from operations to $110.3 million for the year to 30 June 2026, with statutory profit of $135.8 million and assets under management up 11.4% to $4.7 billion. The group shifted to FFO as its prima...
Cromwell Integrates ESG Into 2026 Annual Report to Align with Emerging Standards
Aug 27, 2026
Cromwell Property Group has released its 2026 Annual Report, providing a consolidated view of financial and non-financial performance for the year to 30 June 2026. The report is aimed primarily at securityholders but also addresses investors, empl...
Cromwell Property Group Swings to Profit as Revenue Jumps and NTA Rises
Aug 27, 2026
Cromwell Property Group reported a strong turnaround for the year ended 30 June 2026, with revenue and other income rising 43% to A$266.3 million and funds from operations increasing 5% to A$110.3 million. The stapled group’s profit after ta...
Cromwell Sets Date for FY26 Results and Investor Briefing
Jul 27, 2026
Cromwell Property Group will release its full-year results for the period ending 30 June 2026 on 27 August 2026, and has scheduled an online investor briefing at 10:00am AEST on the same day, to be led by Chief Executive Officer Jonathan Callaghan...
Cromwell Property Group Completes Exit from Chatswood Joint Venture
Jul 14, 2026
Cromwell Property Group has completed the sale of its 50% interest in the commercial property at 475 Victoria Avenue in Chatswood, New South Wales, marking its full exit from the Chatswood joint venture. The divestment simplifies Cromwell’s ...
Cromwell and PAG Launch Brisbane Office Venture with $159m Acquisition
Jul 1, 2026
Cromwell Property Group, an ASX-listed real estate investor and manager with $5.0 billion in assets under management in Australia and New Zealand, focuses on creating value and delivering risk-adjusted returns for a broad base of institutional and...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.