Argosy Property Past Earnings Performance
Past criteria checks 1/6
Argosy Property's earnings have been declining at an average annual rate of -21.6%, while the REITs industry saw earnings declining at 26.7% annually. Revenues have been growing at an average rate of 4.5% per year. Argosy Property's return on equity is 9.1%, and it has net margins of 79.9%.
Key information
-21.62%
Earnings growth rate
-22.26%
EPS growth rate
| REITs Industry Growth | 12.21% |
| Revenue growth rate | 4.50% |
| Return on equity | 9.14% |
| Net Margin | 79.93% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 10
ARG: Slightly Higher Discount Rate Will Still Support Attractive Pricing
Analysts have trimmed their Argosy Property price target slightly from NZ$1.28 to NZ$1.27, reflecting updated assumptions around the discount rate, revenue expectations, profit margin and future P/E multiples. Valuation Changes Fair Value: NZ$1.28 has been adjusted slightly to NZ$1.27.Narrative Update • Apr 24
ARG: Slightly Higher Discount Rate Will Still Support Attractive Pricing
Analysts have kept their NZ$1.28 price target for Argosy Property broadly unchanged, with only very small adjustments to the discount rate and forward P/E assumptions reflected in the latest update. Valuation Changes Fair Value: The fair value of NZ$1.28 remains unchanged, indicating the latest inputs have not shifted the central valuation point.Narrative Update • Apr 09
ARG: Current Pricing Will Look Attractive As Refined Assumptions Support Upside
Analysts have trimmed their price target for Argosy Property from NZ$1.28 to NZ$1.28, reflecting slightly higher discount rate assumptions, a softer revenue outlook, a lower profit margin, and a modestly higher future P/E multiple in their updated models. Valuation Changes Fair Value: Adjusted slightly from NZ$1.28 to NZ$1.28, with the revised model indicating NZ$1.2775.Narrative Update • Mar 25
ARG: Current Pricing Will Look Attractive As Refined Assumptions Support Upside
Analysts have kept their NZ$1.28 price target for Argosy Property broadly unchanged, with a slightly lower discount rate and a marginally adjusted future P/E supporting a steady view on valuation. Valuation Changes Fair Value: NZ$1.28 remains unchanged, indicating a steady central estimate for Argosy Property's valuation.Narrative Update • Mar 10
ARG: Current Pricing Will Look Attractive As Refined Assumptions Support Upside
Analysts have maintained their Argosy Property price target at NZ$1.28, supported by slightly adjusted assumptions around discount rates, revenue trends, margins and future P/E, which together refine but do not materially shift their overall view on valuation. Valuation Changes Fair Value: NZ$1.28 compared with the previous NZ$1.28, effectively unchanged at the current level.Narrative Update • Feb 24
ARG: Fair Outlook Will Persist As Minor Assumption Tweaks Support Current Pricing
Analysts have left their NZ$1.28 Argosy Property price target unchanged, with only small tweaks to assumptions such as the discount rate and future P/E. This signals that their overall view on the stock's valuation is steady for now.Narrative Update • Feb 10
ARG: Fair Outlook Will Persist As Small Assumption Shifts Support Current Pricing
Analysts have kept their price target for Argosy Property steady at $1.28, indicating that only very small adjustments have been made to assumptions for the discount rate, revenue growth, profit margin and future P/E, which together support this unchanged view. Valuation Changes Fair Value: The modelled fair value remains unchanged at NZ$1.28 per share.Narrative Update • Jan 27
ARG: Fair Outlook Will Persist As Assumption Tweaks Support Current Pricing
Analysts have trimmed their price target on Argosy Property by a small amount, reflecting a slightly higher discount rate and modest tweaks to revenue growth, profit margin and future P/E assumptions, while keeping fair value around $1.28. Valuation Changes Fair Value: Kept broadly unchanged at NZ$1.28 per share.Narrative Update • Jan 12
ARG: Fair Outlook Will Persist As Refined Assumptions Support Current Pricing
Analysts have maintained their Argosy Property fair value estimate at $1.28, making only minor adjustments to assumptions for discount rate, revenue growth, profit margin and future P/E to reflect updated modelling rather than a change in their overall view. Valuation Changes Fair Value: Fair value per share is unchanged at NZ$1.28, indicating the updated modelling has not altered the central valuation outcome.Narrative Update • Dec 19
ARG: Fair Outlook Will Persist As Slightly Higher Discount Rate Beds In
Analysts have trimmed their price target on Argosy Property by a modest amount to reflect slightly higher discount rate assumptions and only marginal tweaks to longer term growth and profitability forecasts. Valuation Changes Fair Value: unchanged at NZ$1.28 per share, indicating no revision to the intrinsic value estimate.Narrative Update • Dec 05
ARG: Fair Outlook Will Persist As Earnings Multiple Edges Higher
Analysts have nudged their price target for Argosy Property slightly higher to around $1.28 per share, reflecting modest adjustments to discount rate and forward earnings expectations while maintaining broadly unchanged views on growth and profitability. Valuation Changes Fair Value: Unchanged at approximately NZ$1.28 per share, indicating no material revision to intrinsic value estimates.Narrative Update • Nov 21
ARG: Fair Outlook Will Persist As Financial Metrics Remain Stable
Analysts have raised their price target for Argosy Property from $1.24 to $1.28, citing a reduced expected revenue decline and updated valuation assumptions. Valuation Changes Fair Value estimate has increased from NZ$1.24 to NZ$1.28.Narrative Update • Nov 06
ARG: Fair Outlook Will Persist As Financial Metrics Remain Stable
Analysts have reaffirmed their price target for Argosy Property at $1.24 per share. They are maintaining their outlook because updated assumptions on discount rates and earnings expectations yielded minimal impact on valuation.Narrative Update • Oct 23
Analysts Raise Argosy Property Price Target as Valuation Metrics See Modest Upward Revisions
Analysts have increased their price target for Argosy Property slightly, raising the estimate from $1.20 to $1.24. This change is due to minor adjustments to discount rate assumptions and updated forward valuation metrics.Narrative Update • Oct 09
Modern Sustainable Assets Will Strengthen Auckland And Wellington Leasing
Analysts have raised their price target for Argosy Property from $1.17 to $1.20. They cite modest improvements in fair value estimates and profit margin projections.New Narrative • May 13
Conversion To 6-Star Green Standards Will Boost Leasing Activity
Sustainability-focused upgrades yield higher rental rates and improved margins, with strong demand for green buildings enhancing revenue stability and tenant retention.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Argosy Property makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 160 | 128 | 11 | 0 |
| 31 Dec 25 | 159 | 141 | 11 | 0 |
| 30 Sep 25 | 158 | 154 | 11 | 0 |
| 30 Jun 25 | 157 | 140 | 11 | 0 |
| 31 Mar 25 | 156 | 126 | 11 | 0 |
| 31 Dec 24 | 155 | 62 | 12 | 0 |
| 30 Sep 24 | 155 | -2 | 12 | 0 |
| 30 Jun 24 | 154 | -28 | 12 | 0 |
| 31 Mar 24 | 153 | -54 | 12 | 0 |
| 31 Dec 23 | 152 | -83 | 11 | 0 |
| 30 Sep 23 | 151 | -111 | 11 | 0 |
| 30 Jun 23 | 148 | -96 | 11 | 0 |
| 31 Mar 23 | 145 | -81 | 11 | 0 |
| 31 Dec 22 | 140 | 19 | 11 | 0 |
| 30 Sep 22 | 135 | 120 | 11 | 0 |
| 30 Jun 22 | 133 | 178 | 11 | 0 |
| 31 Mar 22 | 132 | 236 | 12 | 0 |
| 31 Dec 21 | 133 | 245 | 12 | 0 |
| 30 Sep 21 | 135 | 254 | 11 | 0 |
| 30 Jun 21 | 133 | 248 | 11 | 0 |
| 31 Mar 21 | 131 | 242 | 11 | 0 |
| 31 Dec 20 | 128 | 199 | 11 | 0 |
| 30 Sep 20 | 124 | 157 | 11 | 0 |
| 30 Jun 20 | 122 | 138 | 11 | 0 |
| 31 Mar 20 | 121 | 119 | 11 | 0 |
| 31 Dec 19 | 123 | 131 | 11 | 0 |
| 30 Sep 19 | 124 | 144 | 11 | 0 |
| 30 Jun 19 | 125 | 139 | 11 | 0 |
| 31 Mar 19 | 126 | 134 | 11 | 0 |
| 31 Dec 18 | 125 | 138 | 11 | 0 |
| 30 Sep 18 | 123 | 142 | 10 | 0 |
| 30 Jun 18 | 122 | 120 | 10 | 0 |
| 31 Mar 18 | 120 | 98 | 10 | 0 |
| 31 Dec 17 | 119 | 84 | 10 | 0 |
| 30 Sep 17 | 118 | 71 | 9 | 0 |
| 30 Jun 17 | 122 | 87 | 9 | 0 |
| 31 Mar 17 | 125 | 104 | 9 | 0 |
| 31 Dec 16 | 126 | 96 | 9 | 0 |
| 30 Sep 16 | 127 | 89 | 9 | 0 |
| 30 Jun 16 | 125 | 84 | 9 | 0 |
| 31 Mar 16 | 122 | 79 | 9 | 0 |
| 31 Dec 15 | 121 | 76 | 9 | 0 |
| 30 Sep 15 | 120 | 73 | 8 | 0 |
Quality Earnings: ARG has a large one-off gain of NZ$58.7M impacting its last 12 months of financial results to 31st March, 2026.
Growing Profit Margin: ARG's current net profit margins (79.9%) are lower than last year (80.8%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: ARG's earnings have declined by 21.6% per year over the past 5 years.
Accelerating Growth: ARG's earnings growth over the past year (1.5%) exceeds its 5-year average (-21.6% per year).
Earnings vs Industry: ARG earnings growth over the past year (1.5%) did not outperform the REITs industry 18.6%.
Return on Equity
High ROE: ARG's Return on Equity (9.1%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/30 08:04 |
| End of Day Share Price | 2026/07/30 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2026/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Argosy Property Limited is covered by 6 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Joshua Dale | Deutsche Bank |
| Rohan Koreman-Smit | Forsyth Barr Group Ltd. |
| Arie Dekker | Jarden Limited |