DXS Stock Overview

Dexus (ASX: DXS) is a leading Australasian fully integrated real asset group, managing a high-quality Australasian real estate and infrastructure portfolio valued at $53.4 billion. More details

DXS fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	4/6
Past Performance	0/6
Financial Health	0/6
Dividends	5/6

Rewards

Trading at 26.7% below our estimate of its fair value

Earnings are forecast to grow 45.59% per year

Risk Analysis

Interest payments are not well covered by earnings

Unstable dividend track record

Community vs My Fair Value

Create Narrative

Select a narrative for quick price alerts from the community, or create your own.

DEXUS

AnalystConsensusTarget

Consensus Narrative from 9 Analysts

Divesting $2 Billion In Assets Will Strengthen Future Portfolio Quality

Key Takeaways Divesting assets and focusing on premium-grade properties is expected to enhance portfolio quality and strengthen financial metrics positively. Expanding the funds management business and strategic portfolio positioning anticipates strong income growth through rent increases and reduced vacancy risks.

View narrative

AU$8.13

11.0% undervalued

11.22%

Revenue growth p.a.

2 days ago

View DEXUS Community

DEXUS Competitors

Cromwell Property Group

ASX:CMW

AU$982.1m

Abacus Group

ASX:ABG

AU$1.1b

Centuria Office REIT

ASX:COF

AU$743.7m

Elanor Commercial Property Fund

ASX:ECF

AU$254.4m

Price History & Performance

Summary of share price highs, lows and changes for DEXUS
Historical stock prices
Current Share Price	AU$7.23
52 Week High	AU$7.89
52 Week Low	AU$6.37
Beta	0.79
1 Month Change	0%
3 Month Change	-7.07%
1 Year Change	2.26%
3 Year Change	-31.92%
5 Year Change	-14.13%
Change since IPO	-9.40%

Recent News & Updates

Investment In Urban Developments Like Atlassian Central Will Create Future Value

Feb 09 Integration of infrastructure and investment in urban developments could significantly enhance revenue through diversification and expertise leveraging.

Recent updates

Investment In Urban Developments Like Atlassian Central Will Create Future Value

Feb 09 Integration of infrastructure and investment in urban developments could significantly enhance revenue through diversification and expertise leveraging.

Shareholder Returns

	DXS	AU Office REITs	AU Market
7D	-4.9%	-3.6%	1.3%
1Y	2.3%	-0.2%	5.0%

Return vs Industry: DXS exceeded the Australian Office REITs industry which returned -0.2% over the past year.

Return vs Market: DXS underperformed the Australian Market which returned 5% over the past year.

Price Volatility

Is DXS's price volatile compared to industry and market?
DXS volatility
DXS Average Weekly Movement	3.0%
Office REITs Industry Average Movement	3.2%
Market Average Movement	9.5%
10% most volatile stocks in AU Market	16.8%
10% least volatile stocks in AU Market	4.1%

Stable Share Price: DXS has not had significant price volatility in the past 3 months compared to the Australian market.

Volatility Over Time: DXS's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2004	972	Ross Du Vernet	www.dexus.com

Dexus (ASX: DXS) is a leading Australasian fully integrated real asset group, managing a high-quality Australasian real estate and infrastructure portfolio valued at $53.4 billion. The Dexus platform includes the Dexus investment portfolio and the funds management business. We directly and indirectly own $14.5 billion of office, industrial, retail, healthcare, infrastructure and alternatives.

DEXUS Fundamentals Summary

How do DEXUS's earnings and revenue compare to its market cap?
DXS fundamental statistics
Market cap	AU$7.76b
Earnings (TTM)	-AU$976.30m
Revenue (TTM)	AU$661.00m

11.7x

P/S Ratio

-7.9x

P/E Ratio

Is DXS overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
DXS income statement (TTM)
Revenue	AU$661.00m
Cost of Revenue	AU$176.00m
Gross Profit	AU$485.00m
Other Expenses	AU$1.46b
Earnings	-AU$976.30m

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

Aug 20, 2025

Earnings per share (EPS)	-0.91
Gross Margin	73.37%
Net Profit Margin	-147.70%
Debt/Equity Ratio	48.9%

How did DXS perform over the long term?

See historical performance and comparison

Dividends

6.6%

Current Dividend Yield

76%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/17 09:46
End of Day Share Price	2025/05/16 00:00
Earnings	2024/12/31
Annual Earnings	2024/06/30

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	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

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

DEXUS is covered by 20 analysts. 9 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
Benjamin Brayshaw	Barrenjoey Markets Pty Limited
Nicholas McGarrigle	Barrenjoey Markets Pty Limited
Donald Chua	BofA Global Research

DXS Stock Overview

Rewards

Risk Analysis

Divesting $2 Billion In Assets Will Strengthen Future Portfolio Quality

DEXUS Competitors

ASX:CMW

AU$982.1m

ASX:ABG

AU$1.1b

ASX:COF

AU$743.7m

ASX:ECF

AU$254.4m

Price History & Performance

Recent News & Updates

First half 2025 earnings released: FFO per share: AU$0.3 (vs AU$0.34 in 1H 2024)

DEXUS Provides Distributions for the 12 Months Ending 30 June 2025

Now 20% undervalued

Investment In Urban Developments Like Atlassian Central Will Create Future Value

DEXUS(ASX:DXS) dropped from S&P/ASX 50 Index

Key Executive exercised options to buy AU$510k worth of stock.

Recent updates

First half 2025 earnings released: FFO per share: AU$0.3 (vs AU$0.34 in 1H 2024)

DEXUS Provides Distributions for the 12 Months Ending 30 June 2025

Now 20% undervalued

Investment In Urban Developments Like Atlassian Central Will Create Future Value

DEXUS(ASX:DXS) dropped from S&P/ASX 50 Index

Key Executive exercised options to buy AU$510k worth of stock.

Final dividend of AU$0.19 announced

Aware Super Pty Ltd agreed to acquire Office building at 145 Ann Street, Brisbane from DEXUS (ASX:DXS) and Canada Pension Plan Investment Board for approximately AUD 210 million.

An undisclosed buyer acquired B grade suburban office building in Sydney. from DEXUS (ASX:DXS).

Key Executive exercised options to buy AU$413k worth of stock.

Dexus Provides Distribution Policy Update

DEXUS Announces Dividend for the Period Ended June 30, 2024, Payable on August 29, 2024

Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

DEXUS to Report First Half, 2025 Results on Feb 19, 2025

Dexus Announces Executive Changes

First half dividend of AU$0.21 announced

High number of new directors

High number of new directors

Upcoming dividend of AU$0.27 per share at 6.7% yield

Dexus Announces the Ordinary Dividend for the Six Month Ending December 31, 2023, Payable on February 29, 2024

Dexus Announces Chief Executive Officer Changes, Effective 28 March 2024

Darren Steinberg to Step Down as Dexus CEO

Buyers Reportedly on Runway for Airport Stakes

An unknown buyer agreed to acquire A grade office building at 1 Margaret Street from DEXUS (ASX:DXS) for AUD 300 million.

New major risk - Financial position

Full year 2023 earnings: Revenues miss analyst expectations

DEXUS to Report First Half, 2024 Results on Feb 14, 2024

New major risk - Revenue and earnings growth

Consensus revenue estimates decrease by 10%

New major risk - Revenue and earnings growth

An unknown buyer has exchanged contracts to acquire Axxess Corporate Park, Mount Waverley Victoria from DEXUS (ASX:DXS) for approximately AUD 310 million.

An unknown buyer entered into an agreement to acquire CBD A Grade Office Building in Sydney from Dexus (ASX:DXS).

Now 21% undervalued

Board Member recently bought AU$50k worth of stock

First half 2023 earnings released: EPS: AU$0.022 (vs AU$0.75 in 1H 2022)

Dexus Announces Actual Dividend for the Six Month Ending December 31, 2022, Payable on February 28, 2023

Dexus Announces Dividend for the Six Month Ending December 31, 2022, Payable on February 28, 2023

Ashe Morgan Pty Limited acquired Homemaker Prospect from Dexus (ASX:DXS) for AUD 78.9 million.

Dexus Announces Temporary Leave of Patrick Allaway as Non-Executive Director

Key Executive recently bought AU$77k worth of stock

Dexus Provides Distribution Guidance for the 12 Months Ended 30 June 2023

Sim Lian Group Limited acquired Shepparton Marketplace Shopping Centre from Dexus Wholesale Property Fund, managed by Dexus (ASX:DXS) for $88.1 million.

Key Executive recently bought AU$173k worth of stock

Key Executive exercised options to buy AU$1.4m worth of stock.

Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Now 20% undervalued after recent price drop

Dexus to Report Fiscal Year 2023 Results on Aug 16, 2023

Dexus Announces Ordinary Franked Dividend for the Six Months Ended June 30, 2022, Payable on August 30, 2022

Board Member recently bought AU$79k worth of stock

Board Member recently bought AU$225k worth of stock

An Unknown buyer completed the acquisition of 50% of stake in 309-321 Kent Street, Sydney from Dexus (ASX:DXS).

Now 20% undervalued

Dexus (ASX:DXS) agreed to acquire Collimates real estate and domestic infrastructure equity business from Collimate Capital Limited for AUD 550 million.

An unknown buyer completed the acquisition of 50% stake in 12 Creek Street, Brisbane from Dexus (ASX:DXS).

Now 21% undervalued after recent price drop

Now 21% undervalued after recent price drop

An unknown buyer entered into agreement to acquire 50% stake in 12 Creek Street, Brisbane from Dexus (ASX:DXS) for AUD 319 million.

An unknown buyer completed the acquisition of 201 Miller Street, North Sydney from DEXUS Office Partnership, managed by Dexus (ASX:DXS).