Market Cap
AU$13.2b
Last Updated
2019/12/11 10:30 UTC
Data Sources
Company Financials +
Executive Summary
Dexus is one of Australia’s leading real estate groups, proudly managing a high quality Australian property portfolio valued at $31.8 billion.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -14.2% per year for the next 3 years
Snowflake Analysis
Average dividend payer and fair value.
Similar Companies
Share Price & News
How has Dexus's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: DXS has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
2.2%
DXS
1.1%
AU REITs
2.0%
AU Market
1 Year Return
7.7%
DXS
13.8%
AU REITs
18.2%
AU Market
Return vs Industry: DXS underperformed the Australian REITs industry which returned 13.8% over the past year.
Return vs Market: DXS underperformed the Australian Market which returned 18.2% over the past year.
Shareholder returns
| DXS | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.2% | 1.1% | 2.0% |
| 30 Day | 3.4% | -0.01% | -0.7% |
| 90 Day | -1.5% | 1.3% | 0.7% |
| 1 Year | 12.3%7.7% | 19.5%13.8% | 24.1%18.2% |
| 3 Year | 47.0%28.1% | 46.4%25.2% | 36.0%17.3% |
| 5 Year | 118.5%70.9% | 94.4%50.7% | 64.1%27.1% |
Price Volatility Vs. Market
How volatile is Dexus's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Dexus (ASX:DXS) Delivered A Better ROE Than Its Industry1 month ago | Simply Wall St
Wallace Sheppard Is The Non-Executive Chairman of DEXUS Funds Management Limited of Dexus (ASX:DXS) And They Just Spent AU$200k On Shares1 month ago | Simply Wall St
Does Dexus (ASX:DXS) Have A Place In Your Dividend Portfolio?Valuation
Is Dexus undervalued compared to its fair value and its price relative to the market?
9.66x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: DXS (A$12.03) is trading above our estimate of fair value (A$11.06)
Significantly Below Fair Value: DXS is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: DXS is good value based on its PE Ratio (9.7x) compared to the REITs industry average (15.9x).
PE vs Market: DXS is good value based on its PE Ratio (9.7x) compared to the Australian market (18.4x).
Price to Earnings Growth Ratio
PEG Ratio: DXS's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: DXS is good value based on its PB Ratio (1.1x) compared to the AU REITs industry average (1.2x).
Next Steps
Future Growth
How is Dexus forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
-14.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: DXS's earnings are forecast to decline over the next 3 years (-14.2% per year).
Earnings vs Market: DXS's earnings are forecast to decline over the next 3 years (-14.2% per year).
High Growth Earnings: DXS's earnings are forecast to decline over the next 3 years.
Revenue vs Market: DXS's revenue is expected to decline over the next 3 years (-10.4% per year).
High Growth Revenue: DXS's revenue is forecast to decline over the next 3 years (-10.4% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: DXS's Return on Equity is forecast to be low in 3 years time (6.5%).
Next Steps
Past Performance
How has Dexus performed over the past 5 years?
21.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: DXS has a large one-off gain of A$455.4M impacting its June 30 2019 financial results.
Growing Profit Margin: DXS's current net profit margins (96.2%) are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: DXS's earnings have grown significantly by 21.3% per year over the past 5 years.
Accelerating Growth: DXS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: DXS had negative earnings growth (-25.9%) over the past year, making it difficult to compare to the REITs industry average (-16.4%).
Return on Equity
High ROE: DXS's Return on Equity (10.9%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Dexus's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: DXS has a low level of unsold assets or inventory.
Debt Coverage by Assets: DXS's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: DXS's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if DXS has a sufficient allowance for bad loans.
Low Risk Liabilities: DXS reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if DXS has an acceptable proportion of non-loan assets held.
Low Risk Deposits: DXS has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if DXS has an appropriate level of bad loans.
Next Steps
Dividend
What is Dexus's current dividend yield, its reliability and sustainability?
4.17%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: DXS's dividend (4.17%) is higher than the bottom 25% of dividend payers in the Australian market (2.44%).
High Dividend: DXS's dividend (4.17%) is low compared to the top 25% of dividend payers in the Australian market (5.54%).
Stability and Growth of Payments
Stable Dividend: DXS's dividend payments have been volatile in the past 10 years.
Growing Dividend: DXS's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (76.6%), DXS's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: DXS's dividends in 3 years are forecast to be thoroughly covered by earnings (0.07% payout ratio).
Next Steps
Management
What is the CEO of Dexus's salary, the management and board of directors tenure and is there insider trading?
5.0yrs
Average management tenure
CEO
Darren Steinberg 0
7.8yrs
Tenure
AU$6,116,763
Compensation
Mr. Darren Joseph Steinberg, BEc, FRICS, FAPI, FAICD, has been Non-Executive Director at VGI Partners Limited since May 12, 2019. Mr. Steinberg, BEc, FRICS, FAPI, FAICD, has been the Chief Executive Offic ...
CEO Compensation Analysis
Compensation vs Market: Darren's total compensation ($USD4.17M) is above average for companies of similar size in the Australian market ($USD2.88M).
Compensation vs Earnings: Darren's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Management Age and Tenure
5.0yrs
Average Tenure
Experienced Management: DXS's management team is seasoned and experienced (5 years average tenure).
Board Age and Tenure
6.6yrs
Average Tenure
67.5yo
Average Age
Experienced Board: DXS's board of directors are considered experienced (6.6 years average tenure).
Insider Trading
Insider Buying: DXS insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chairman of the Board Non-Executive Chairman of DEXUS Funds Management Limited |
| Shares | 16,690 |
| Max Price | AU$11.99 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Non-Executive Director of DEXUS Funds Management Limited |
| Shares | 1,000 |
| Max Price | AU$13.00 |
| Entity | Individual |
| Role | Chief Executive Officer CEO & Executive Director of DEXUS Funds Management Limited |
| Shares | 199,500 |
| Max Price | AU$11.85 |
| Entity | Company |
| Shares | 14,858,138 |
| Max Price | AU$11.22 |
| Entity | Company |
| Shares | 32,094,651 |
| Max Price | AU$11.32 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Darren Steinberg
CEO & Executive Director of DEXUS Funds Management Limited
- Tenure: 7.8yrs
- Compensation: AU$6.12m
Kevin George
Executive General Manager of Office
- Tenure: 7yrs
- Compensation: AU$2.18m
David Yates
Executive GM of Investor Relations
- Tenure: 0yrs
Ross Du Vernet
Chief Investment Officer
- Tenure: 3.4yrs
- Compensation: AU$2.26m
Alison Harrop
Chief Financial Officer
- Tenure: 4.2yrs
- Compensation: AU$2.05m
Deborah Coakley
Executive General Manager of Funds Management
- Tenure: 5.8yrs
- Compensation: AU$1.82m
Chris Hynes
Head of Office & Industrial Leasing
- Tenure: 0yrs
Scott Mahony
Head of Governance & Company Secretary of Dexus Funds Management Limited
- Tenure: 1.9yrs
Brett Cameron
General Counsel & Company Secretary of Dexus Funds Management Limited
- Tenure: 0yrs
Paul Oates
Group General Manager of Development
- Tenure: 5yrs
Board Members
John Conde (71yo)
Independent Non-Executive Director of DEXUS Funds Management Limited
- Tenure: 10.7yrs
- Compensation: AU$222.50k
Penny Bingham-Hall (59yo)
Independent Non-Executive Director of DEXUS Funds Management Limited
- Tenure: 5.5yrs
- Compensation: AU$223.84k
Darren Steinberg
CEO & Executive Director of DEXUS Funds Management Limited
- Tenure: 7.8yrs
- Compensation: AU$6.12m
Wallace Sheppard (70yo)
Non-Executive Chairman of DEXUS Funds Management Limited
- Tenure: 4.2yrs
- Compensation: AU$400.00k
Mark Henry Ford (65yo)
Independent Non-Executive Director of DEXUS Funds Management Limited
- Tenure: 3.1yrs
- Compensation: AU$201.64k
Peter St George (72yo)
Independent Non-Executive Director of DEXUS Funds Management Limited
- Tenure: 10.7yrs
- Compensation: AU$215.00k
Tonianne Dwyer (57yo)
Independent Non-Executive Director of DEXUS Funds Management Limited
- Tenure: 8.3yrs
- Compensation: AU$246.71k
Nicola Roxon
Independent Non-Executive Director of DEXUS Funds Management Limited
- Tenure: 2.3yrs
- Compensation: AU$200.87k
Company Information
Dexus's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Dexus
- Ticker: DXS
- Exchange: ASX
- Founded: 2004
- Industry: Office REITs
- Sector: Real Estate
- Market Cap: AU$13.195b
- Shares outstanding: 1.10b
- Website: https://www.dexus.com
Number of Employees
Location
- Dexus
- Australia Square
- Level 25
- Sydney
- New South Wales
- 2000
- Australia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| DXS | ASX (Australian Securities Exchange) | Yes | Stapled Securities | AU | AUD | Oct 2004 |
| DXSP.F | OTCPK (Pink Sheets LLC) | Yes | Stapled Securities | US | USD | Oct 2004 |
| 0DPS | DB (Deutsche Boerse AG) | Yes | Stapled Securities | DE | EUR | Oct 2004 |
| DXS | CHIA (Chi-X Australia) | Yes | Stapled Securities | AU | AUD | Oct 2004 |
Biography
Dexus is one of Australia’s leading real estate groups, proudly managing a high quality Australian property portfolio valued at $31.8 billion. We believe that the strength and quality of our relationships ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/11 10:30 |
| End of Day Share Price | 2019/12/11 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2019/06/30 |
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 here.