Australian (ASX) Office REITs Industry Analysis

UpdatedFeb 15, 2026

DataAggregated Company Financials

Companies7

7D-1.5%
3M-11.2%
1Y-16.3%
YTD-9.7%

Over the last 7 days, the Office REITs industry has dropped 1.5%, driven by DEXUS declining 3.0%. Meanwhile, Cromwell Property Group actually outperformed within the industry, gaining 6.0% in the last week. Overall the industry is down 16% in 12 months. As for the next few years, earnings are expected to grow by 20% per annum.

Industry Valuation and Performance

Has the Australian Office REITs Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 16 Feb 2026	AU$10.0b	AU$2.0b	AU$84.0m	43.1x	119.5x	5x
Wed, 14 Jan 2026	AU$11.0b	AU$2.0b	AU$1.3m	54.6x	8720.7x	5.4x
Fri, 12 Dec 2025	AU$11.2b	AU$2.0b	AU$1.3m	55.2x	8864.1x	5.5x
Sun, 09 Nov 2025	AU$11.4b	AU$2.0b	AU$1.3m	56.7x	9038.5x	5.6x
Tue, 07 Oct 2025	AU$11.6b	AU$2.0b	AU$1.3m	57.3x	9211.6x	5.7x
Thu, 04 Sep 2025	AU$11.5b	AU$2.0b	AU$1.3m	57.5x	9170.6x	5.7x
Sat, 02 Aug 2025	AU$11.2b	AU$1.4b	-AU$1,455,691,000.00	119.5x	-7.7x	8.2x
Mon, 30 Jun 2025	AU$10.5b	AU$1.4b	-AU$1,455,691,000.00	115.1x	-7.2x	7.7x
Wed, 28 May 2025	AU$11.0b	AU$1.4b	-AU$1,455,691,000.00	124x	-7.5x	8.1x
Fri, 25 Apr 2025	AU$11.2b	AU$1.4b	-AU$1,455,691,000.00	116.8x	-7.7x	8.2x
Sun, 23 Mar 2025	AU$11.2b	AU$1.4b	-AU$1,455,691,000.00	113.3x	-7.7x	8.2x
Tue, 18 Feb 2025	AU$12.0b	AU$1.0b	-AU$2,282,768,000.00	124.9x	-5.3x	11.6x
Thu, 16 Jan 2025	AU$10.6b	AU$1.0b	-AU$2,360,952,000.00	116.7x	-4.5x	10.1x
Sat, 14 Dec 2024	AU$10.7b	AU$1.0b	-AU$2,360,952,000.00	120.8x	-4.5x	10.2x
Mon, 11 Nov 2024	AU$11.2b	AU$1.0b	-AU$2,360,952,000.00	124.9x	-4.7x	10.6x
Wed, 09 Oct 2024	AU$12.0b	AU$1.0b	-AU$2,360,952,000.00	135.1x	-5.1x	11.4x
Fri, 06 Sep 2024	AU$11.5b	AU$1.1b	-AU$2,359,455,000.00	137.2x	-4.9x	10.8x
Sun, 04 Aug 2024	AU$11.1b	AU$1.1b	-AU$2,510,572,000.00	108.3x	-4.4x	10.3x
Tue, 02 Jul 2024	AU$10.5b	AU$1.1b	-AU$2,510,572,000.00	98.6x	-4.2x	9.6x
Thu, 30 May 2024	AU$11.0b	AU$1.1b	-AU$2,510,572,000.00	105.7x	-4.4x	10.1x
Sat, 27 Apr 2024	AU$11.3b	AU$1.1b	-AU$2,549,377,000.00	103.9x	-4.4x	10.1x
Mon, 25 Mar 2024	AU$12.3b	AU$1.6b	-AU$2,549,377,000.00	106.5x	-4.8x	7.7x
Wed, 21 Feb 2024	AU$11.9b	AU$1.6b	-AU$2,301,398,000.00	109.2x	-5.2x	7.4x
Fri, 19 Jan 2024	AU$11.5b	AU$1.7b	-AU$1,567,021,000.00	279.8x	-7.3x	6.8x
Sun, 17 Dec 2023	AU$12.2b	AU$1.7b	-AU$1,567,021,000.00	282x	-7.8x	7.2x
Tue, 14 Nov 2023	AU$11.1b	AU$1.7b	-AU$1,567,021,000.00	240.4x	-7.1x	6.5x
Thu, 12 Oct 2023	AU$11.3b	AU$1.7b	-AU$1,567,021,000.00	229.5x	-7.2x	6.7x
Sat, 09 Sep 2023	AU$12.0b	AU$1.7b	-AU$1,567,021,000.00	275.4x	-7.7x	7.1x
Mon, 07 Aug 2023	AU$13.1b	AU$2.5b	AU$1.1b	20.2x	11.7x	5.3x
Wed, 05 Jul 2023	AU$12.0b	AU$2.1b	AU$909.4m	20.2x	13.2x	5.6x
Fri, 02 Jun 2023	AU$12.1b	AU$2.1b	AU$909.4m	20.5x	13.3x	5.7x
Sun, 30 Apr 2023	AU$11.9b	AU$2.1b	AU$909.4m	20.6x	13.1x	5.6x
Tue, 28 Mar 2023	AU$11.7b	AU$2.1b	AU$909.4m	20.9x	12.8x	5.5x

Price to Earnings Ratio

12.8x

Tue, 28 Mar 2023

Current Industry PE

Investors are pessimistic on the Australian Office REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The industry is trading at a PE ratio of 120x which is lower than its 3-year average PE of 1kx.

The 3-year average PS ratio of 7.9x is higher than the industry's current PS ratio of 5.0x.

Past Earnings Growth

The earnings for companies in the Office REITs industry have declined 55% per year over the last three years.
Meanwhile revenues have remained mostly flat.
This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.