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Centuria Capital Group
(Sydney:CNI)
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Rating:59Neutral
Price Target:
AU$1.00
â–¼(-26.47% Downside)
Action:Reiterated
Date:08/28/26
Overall score reflects (1) middling financial quality with rising leverage and declining free cash flow despite generally solid profitability, (2) clearly weak price momentum with the stock trading below major moving averages and negative MACD, partially offset by (3) appealing valuation and income metrics (low P/E and high yield) and (4) upbeat FY-27 guidance and balance-sheet actions, though execution and credit risks remain.
Positive Factors
Record AUM and recurring fee platform
Record AUM increases the base for recurring management fees and demonstrates scale across a diversified portfolio. Continued platform growth can support more stable earnings and improve operating leverage over the medium term.
Negative Factors
Rising leverage and weakening free cash flow
The higher debt burden reduces financial flexibility and increases sensitivity to asset values and funding costs. Declining free cash flow may also weaken coverage for distributions and reinvestment if the deterioration continues.
Read all positive and negative factors
Positive Factors
Negative Factors
Record AUM and recurring fee platform
Record AUM increases the base for recurring management fees and demonstrates scale across a diversified portfolio. Continued platform growth can support more stable earnings and improve operating leverage over the medium term.
Read all positive factors
Centuria Capital Group (CNI) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.12B
Dividend Yield8.13%
Average Volume (3M)4.19M
Price to Earnings (P/E)18.4
Beta (1Y)0.93
Revenue Growth3.26%
EPS Growth-32.26%
CountryAU
Employees296
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)0.07
Shares Outstanding901,476,260
10 Day Avg. Volume6,149,405
30 Day Avg. Volume4,193,733
Financial Highlights & Ratios
PEG Ratio-0.88
Price to Book (P/B)0.93
Price to Sales (P/S)3.63
P/FCF Ratio22.93
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.69Price Target Upside24.35% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)0.13
Revenue Forecast (FY)AU$316.74M
Centuria Capital Group Business Overview & Revenue Model
Company Description
Centuria Capital Group, an investment manager, markets and manages investment products primarily in Australia. It operates through Property Funds Management, Co- Investments, Developments, Property and Development Finance, Investment Bonds Managem...
How the Company Makes Money
Centuria Capital Group primarily makes money by operating as a funds manager and responsible entity/manager for investment vehicles. Its key revenue stream is recurring management fees earned for managing assets under management (AUM) across its f...
Centuria Capital Group Earnings Call Summary
Earnings Call Date:Aug 26, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 09, 2027
Earnings Call Sentiment Positive
The call presents a predominantly positive operational and strategic picture: record AUM, improved operating profit, stronger balance sheet (operating gearing down to 5.1%), clear FY '27 guidance (+14% OPAT; +~20% EBIT) and tangible progress on large real estate deals and ResetData execution. However, there are meaningful near-term risks — ResetData is loss-making and capital intensive with timing uncertainty on customer conversions; Centuria Bass has material secured exposure ($278m) to Bathla (now in administration) and experienced earnings volatility; and the equity raise dilutes near-term per-security metrics. On balance, management has strengthened liquidity and positioned the business for deployment, while acknowledging execution and credit risks that require active management.Positive Updates
Record Assets Under Management
Group AUM reached a record $22.2 billion (Property Funds Management AUM $18.6 billion), demonstrating scale and diversification across 102 funds and ~400 properties.
Negative Updates
ResetData Operating Losses and Capital Intensity
ResetData / Sovereign AI segment recorded an operating loss of negative $10.9 million (net loss attributable to Centuria $5.9 million) as the business remains in scale-up mode; capex and GPU pricing pressures noted and the business is capital-intensive with further external equity likely required to scale materially.
Read all updates
Q4-2026 Updates
Positive
Negative
Record Assets Under Management
Group AUM reached a record $22.2 billion (Property Funds Management AUM $18.6 billion), demonstrating scale and diversification across 102 funds and ~400 properties.
Read all positive updates
Company Guidance
Centuria guided FY‑27 operating profit after tax of approximately $130.0m (c.+14% year‑on‑year), operating earnings of $0.13 per security and distributions of $0.104, with operating EBIT expected to increase by around 20% (with benefits beginning to appear in Q4 FY‑27 and building through FY‑28 and FY‑29). The guidance follows a FY‑26 base of $113.8m OPAT, operating earnings rebased to $0.136 per security, record group AUM of $22.2bn (Property Funds Management AUM $18.6bn), >$1.2bn of real estate acquisitions (20% above the $1.0bn target), reduced operating gearing from 12.3% to 5.1%, $197m realised from asset recycling and a $300m June equity raise that increased securities on issue by ~20.6% (NAV $1.76 per security vs $1.79 prior; weighted average debt duration 3.1 years; no group debt maturities until June 2028; $8.6bn of lending facilities across 25 lenders; average lending margin ~1.44%; hedge profile ~56%). ResetData remains in scale‑up/investment phase with near‑term capacity ~10MW (AI Factories 1, 3 and 6), GPUs ordered (AI Factory 1: final 512 H200; AI Factory 3: 64 B300; AI Factory 6: 1,152 B300), longer‑term optionality >30MW (and >220MW across sites), FY‑26 Sovereign AI operating result of ‑$10.9m (net loss attributable CNI ‑$5.9m) and an expectation of narrowing losses and improving/positive EBIT contribution in 2H FY‑27 and into FY‑28; guidance also reflects higher interest costs (forecast BBSY ~4.7%) and an effective tax rate ~2 percentage points higher.Centuria Capital Group Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
58
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 445.85M | 77.65M | 327.03M | 370.12M | 299.72M |
| Gross Profit | 378.40M | 27.56M | 195.28M | 260.88M | 263.95M |
| EBITDA | 224.40M | 248.61M | 176.56M | 166.59M | 178.34M |
| Net Income | 56.51M | 82.70M | 102.14M | 105.92M | -37.85M |
Balance Sheet | |||||
| Total Assets | 4.29B | 3.59B | 3.41B | 2.33B | 2.65B |
| Cash, Cash Equivalents and Short-Term Investments | 432.08M | 1.25B | 844.94M | 225.46M | 200.56M |
| Total Debt | 1.85B | 1.42B | 1.29B | 410.94M | 648.83M |
| Total Liabilities | 2.48B | 2.08B | 1.93B | 912.07M | 1.22B |
| Stockholders Equity | 1.73B | 1.48B | 1.48B | 1.41B | 1.39B |
Cash Flow | |||||
| Free Cash Flow | 70.50M | 82.81M | 156.08M | 111.37M | 168.90M |
| Operating Cash Flow | 81.18M | 116.73M | 156.32M | 113.68M | 171.60M |
| Investing Cash Flow | -491.78M | -54.14M | -132.10M | 62.07M | -384.02M |
| Financing Cash Flow | 632.56M | -53.28M | -41.19M | -149.35M | 140.71M |
Centuria Capital Group Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | AU$3.61B | 5.62 | 101.77% | 16.80% | -4.25% | -5.70% | |
78 Outperform | AU$607.58M | 3.04 | 35.15% | 4.20% | -18.90% | ― | |
74 Outperform | AU$577.06M | 7.46 | 13.90% | 4.07% | -5.33% | -20.20% | |
69 Neutral | AU$3.07B | 19.36 | 49.77% | 2.54% | 586.06% | 463.96% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | AU$92.69B | 19.71 | 13.72% | 2.80% | 4.80% | 30.56% | |
59 Neutral | AU$1.12B | 18.40 | 3.52% | 8.13% | 3.26% | -32.26% |
* Real Estate Sector Average
AU:CNI
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Centuria Capital Group Corporate Events
Centuria Sets FY26 Results Agenda, Highlights Data Centre and AI Assets
Aug 27, 2026
Centuria Capital Group has flagged its FY26 results presentation, outlining a broad agenda that spans its overall group performance, detailed reviews of its real estate divisions, and its growing AI infrastructure platform ResetData. The release h...
Centuria Capital Group Files 2026 Annual Financial Report
Aug 27, 2026
Centuria Capital Group has released its annual financial report for the year ended 30 June 2026, covering Centuria Capital Limited, the Centuria Capital Fund and their subsidiaries, with the accounts authorised by the board on 27 August 2026. The ...
Centuria Says Bathla Administration Not Material to Its Financial Position
Aug 25, 2026
Centuria Capital Group has clarified its exposure to the Bathla Group following Bathla’s move into voluntary administration. Through its Centuria Bass Credit funds platform, the group has financed six Bathla assets, including two near-comple...
State Street Group Ends Substantial Holding in Centuria Capital
Aug 24, 2026
State Street Corporation and several asset management subsidiaries have lodged a notice that they have ceased to be a substantial holder in Centuria Capital Group as of 20 August 2026. The filing indicates changes in their relevant interests and a...
Centuria to Release Escrowed Securities Linked to Bass Credit Acquisition
Aug 14, 2026
Centuria Capital Group has notified the market that 10,651,166 fully paid ordinary stapled securities issued on 25 February 2026 will be released from escrow on 25 August 2026. These securities form part of the consideration for Centuria’s a...
Centuria accelerates AI data centre build-out with new power and GPU financing
Aug 13, 2026
Centuria Capital Group and ResetData have advanced their AI data centre strategy by securing additional power, deployment capacity and financing, following Centuria’s June 2026 equity raising. The partners have signed a Master Services Agree...
Centuria Capital Sets Date for FY26 Results and Investor Webcast
Aug 7, 2026
Centuria Capital Group will release its financial results for the year ended 30 June 2026 on 27 August 2026, followed by a management briefing and investor webcast at 11:00am AEST. The results announcement and investor presentation will be lodged ...
Centuria Defends Governance and Clarifies Exposure to Bathla Group
Jul 23, 2026
Centuria Capital Group has moved to clarify media commentary around the Centuria Bass Credit Fund’s exposure to property developer Bathla Group and governance arrangements. The wholesale fund currently extends six loan facilities to Bathla, ...
Centuria Director John Slater Lifts Stake Through Retail Entitlement Offer
Jul 10, 2026
Centuria Capital Group has disclosed a change in director John Richard Slater’s indirect holdings in the company’s fully paid stapled securities, following his participation in a retail entitlement offer. Slater increased his interests...
Centuria Raises $300 Million Through Completed Entitlement Offer
Jul 10, 2026
Centuria Capital Group has completed the retail component of its fully underwritten 1-for-17 pro rata accelerated non-renounceable entitlement offer at $2.00 per new security. The retail offer closed on 7 July 2026, raising about $35 million, foll...
Centuria director boosts stake via retail entitlement offer
Jul 9, 2026
Centuria Capital Group has disclosed a change in director Kristie Brown’s indirect holding in the company’s fully paid ordinary stapled securities, as required under ASX listing rules. Her interest, held via Pacific Tristar Limited as ...
Centuria performance rights lapse as conditions go unmet
Jul 9, 2026
Centuria Capital Group has reported the lapse of several tranches of performance rights after the conditions attached to these incentives were not met by 30 June 2026. The cessation affects multiple series of rights, reducing the pool of potential...
Centuria Director Joanne Dawson Increases Indirect Stake via Retail Entitlement Offer
Jul 1, 2026
Centuria Capital Group has disclosed a change in director Joanne Dawson’s indirect holdings in the company’s fully paid ordinary stapled securities. The interest is held via Monostar Pty Ltd as trustee for the JAGMAH Trust, over which ...
Centuria raises $200m via institutional placement of stapled securities
Jul 1, 2026
Centuria Capital Group has completed a fully underwritten institutional placement, issuing 100 million new stapled securities at $2.00 each to raise approximately $200 million. The stapled securities comprise one share in Centuria Capital Limited ...
Centuria Capital Updates Issued Capital After Small Security Cessation
Jun 30, 2026
Centuria Capital Group has notified the ASX of the cessation of 367 fully paid ordinary stapled securities, effective 30 June 2026. The move slightly alters the group’s issued capital structure, although the announcement provides limited det...
Centuria advances July 2026 security issuance for ASX quotation
Jun 30, 2026
Centuria Capital Group has lodged an Appendix 2A with the ASX seeking quotation for a new batch of securities tied to transactions previously flagged in an Appendix 3B. The securities, which are yet to be issued, are scheduled for issuance on 1 Ju...
Centuria Opens Retail Entitlement Offer After Securing A$65m Institutional Raise
Jun 25, 2026
Centuria Capital Group has opened the retail component of its fully underwritten accelerated non-renounceable entitlement offer, seeking to raise about A$35 million at A$2.00 per new security. The retail offer follows an institutional tranche that...
Yarra Funds Exit Substantial Holding in Centuria Capital Group
Jun 25, 2026
Yarra Capital Management and a group of related entities have notified Centuria Capital Group that they have ceased to be substantial shareholders in the ASX-listed investment manager. The move follows a series of trades between September 2024 and...
Macquarie exits substantial holder position in Centuria Capital Group
Jun 25, 2026
Macquarie Group Limited has lodged a notice stating it has ceased to be a substantial holder in Centuria Capital Group, which comprises Centuria Capital Limited and Centuria Capital Fund. The change reflects a reduction in Macquarie’s releva...
Centuria secures $265m from institutional offer ahead of retail raise
Jun 22, 2026
Centuria Capital Group has completed the institutional placement and institutional component of its underwritten equity raising, securing about $265 million of the approximately $300 million targeted. The placement raised around $200 million and t...
Centuria launches $100m entitlement offer to bolster capital base
Jun 22, 2026
Centuria Capital Group has launched a fully underwritten 1-for-17 accelerated non-renounceable pro rata entitlement offer of stapled securities to raise about $100 million at $2.00 per new stapled security. The offer, conducted alongside an instit...
Centuria launches fully underwritten $300m equity raising
Jun 22, 2026
Centuria Capital Group has launched a fully underwritten equity raising of approximately $300 million through a placement and a pro-rata accelerated non-renounceable entitlement offer of new stapled securities. The offer targets institutional, sop...
Centuria raises $300m to fast-track AI data centres and real estate platform
Jun 22, 2026
Centuria Capital Group has launched a fully underwritten $300 million equity raising, comprising a $200 million institutional placement and a $100 million 1-for-17 accelerated non-renounceable entitlement offer, priced at $2.00 per new security. T...
Centuria Capital Seeks Trading Halt Ahead of Major Equity Raising
Jun 21, 2026
Centuria Capital Group has requested a trading halt for its securities on the ASX as it progresses a proposed material equity raising, with the halt to remain in place until the start of trading on 23 June 2026. The move precedes the release of re...
Australian Retirement Trust Exits Substantial Holding in Centuria Capital
Jun 19, 2026
Australian Retirement Trust Pty Ltd has notified Centuria Capital Limited that it has ceased to be a substantial holder in the company as of 17 June 2026. The change reflects a reduction in the fund’s relevant voting interest in Centuria, wi...
Centuria declares 5.20c final distribution and suspends DRP for June 2026
Jun 19, 2026
Centuria Capital Group has declared a final distribution of 5.20 cents per stapled security for the period ending 30 June 2026, comprising a 0.50 cent fully franked dividend and a 4.70 cent trust distribution. The payment, for which the Distributi...
Centuria Capital Declares Six-Month Distribution of 5.2 Cents per Security
Jun 19, 2026
Centuria Capital Group has declared a six-month distribution of AUD 0.052 per stapled security for the period ending 30 June 2026. The distribution will trade ex on 26 June, use a record date of 29 June, and be paid to securityholders on 27 August...
Macquarie exits substantial holding in Centuria Capital Group
Jun 9, 2026
Macquarie Group Limited and its controlled entities have lodged a notice stating they have ceased to be substantial holders in Centuria Capital Group, signaling a reduction of their voting interest below the regulatory disclosure threshold. The mo...
State Street Group Ceases Substantial Holding in Centuria Capital
Jun 5, 2026
State Street Global Advisors and related State Street Corporation subsidiaries have filed a notice that they have ceased to be substantial holders in Centuria Capital Group. The change reflects a reduction in their relevant voting interests below ...
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.