DEXUS

ASX:DXS Stock Report

Market Cap: AU$6.4b

DEXUS Future Growth

Future criteria checks 1/6

DEXUS's revenue is forecast to decline at 14.6% per annum while its annual earnings are expected to grow at 6.6% per year. EPS is expected to grow by 7.6% per annum. Return on equity is forecast to be 6.4% in 3 years.

Key information

6.6%

Earnings growth rate

7.58%

EPS growth rate

Office REITs earnings growth6.1%
Revenue growth rate-14.6%
Future return on equity6.41%
Analyst coverage

Good

Last updated12 May 2026

Recent future growth updates

Recent updates

Narrative Update • Apr 24

DXS: Share Buyback Plan Will Support Future Upside Potential

Analysts have made a small uplift to the DEXUS price target to A$7.35. This reflects updated assumptions for discount rate, revenue growth, profit margin and future P/E that fine tune rather than overhaul their valuation view.
New Narrative • Apr 24

Office Headwinds And Development Commitments Will Shape Future Earnings Resilience

Catalysts About DEXUS DEXUS is an Australasian real asset manager with an investment portfolio and third party funds platform across office, industrial, retail, infrastructure, health care and alternatives. What are the underlying business or industry changes driving this perspective?
Narrative Update • Apr 09

DXS: Buyback Plan Will Support Future Upside Despite Higher Risk Assumptions

Analysts have trimmed their DEXUS price target from A$7.52 to A$7.35, citing revised assumptions related to discount rates, revenue trends, profit margins and forward P/E multiples. What's in the News The Board of Directors authorized a buyback plan on February 18, 2026, signaling an intention to return capital to security holders through on market purchases over time (Key Developments).
New Narrative • Apr 07

Future Office And Industrial Portfolios Will Support Long Term Real Asset Income

Catalysts About DEXUS DEXUS manages a diversified Australasian real asset platform across office, industrial, retail, infrastructure, health care and alternative assets for balance sheet and third party capital. What are the underlying business or industry changes driving this perspective?
Narrative Update • Mar 26

DXS: Share Buyback Will Support Future Upside Potential

Analysts have nudged their price target for DEXUS slightly lower, trimming fair value from A$7.57 to A$7.52 as they fine tune assumptions around the discount rate, revenue trends, and future P/E expectations. What's in the News Board of Directors authorizes a share buyback plan for DEXUS on February 18, 2026, signaling an approved framework for repurchases (Key Developments).
Narrative Update • Mar 12

DXS: Share Buyback And Dividend Policy Will Support Future Upside Potential

Narrative Update The analyst price target for DEXUS has remained broadly consistent with prior assumptions, with only marginal adjustments to inputs such as the discount rate and future P/E. Analysts indicate that their core views on revenue trends and profit margin are effectively unchanged.
Narrative Update • Feb 26

DXS: Index Removals And Buyback Will Highlight Resilient Dividend Stream

Analysts have trimmed their DEXUS price target slightly, with updated fair value moving from A$7.60 to about A$7.57 as they factor in a softer revenue outlook, a small easing in profit margin assumptions, a lower discount rate, and a higher future P/E of roughly 16.6x. What's in the News Board authorizes a share buyback plan on February 18, 2026, signaling fresh capital management activity (Key Developments).
Narrative Update • Feb 11

DXS: Index Removals Will Present Opportunity As Dividend Stream Continues

Analysts have trimmed their fair value estimate for DEXUS from A$7.71 to A$7.60, citing a modestly higher discount rate and slightly lower future P/E expectations, while keeping revenue growth and profit margin assumptions broadly unchanged. What's in the News Dexus announced an ordinary dividend of A$0.193 per security for the six months ending December 31, 2025, payable on February 27, 2026, with a record date of December 31, 2025 and an ex date of December 30, 2025 (company announcement).
Narrative Update • Jan 28

DXS: Future Dividend Flow From Office Sales Will Support Returns

Analysts have trimmed their DEXUS fair value estimate from A$7.84 to A$7.71, citing slightly softer revenue and margin assumptions, as well as a modestly higher future P/E multiple in their refreshed model. What's in the News Dexus declared an ordinary dividend of A$0.193 per security for the six months ending December 31, 2025, with a record date of December 31, 2025, an ex date of December 30, 2025, and payment scheduled for February 27, 2026 (company announcement).
Narrative Update • Jan 13

DXS: Capital Recycling Through Office Sales Will Support Future Returns

Analysts have trimmed their price target for DEXUS by about A$0.30. This reflects slightly lower fair value estimates, along with more moderate expectations for revenue contraction, profit margins and future P/E.
Narrative Update • Oct 29

Industrial And Logistics Trends Will Unlock Future Asset Value

Analysts have modestly raised their price target for DEXUS, increasing it from $8.12 to $8.14. They cite updated forecasts of higher profit margins and slight improvements in valuation metrics, despite a more cautious outlook on revenue growth.
User avatar
New Narrative • Feb 09

Investment In Urban Developments Like Atlassian Central Will Create Future Value

Integration of infrastructure and investment in urban developments could significantly enhance revenue through diversification and expertise leveraging.
Analysis Article • Oct 12

Shareholders May Not Be So Generous With Dexus' (ASX:DXS) CEO Compensation And Here's Why

CEO Darren Steinberg has done a decent job of delivering relatively good performance at Dexus ( ASX:DXS ) recently. In...

Earnings and Revenue Growth Forecasts

ASX:DXS - Analysts future estimates and past financials data (AUD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
6/30/20289167062606391
6/30/2027857584-745851
6/30/20268586674485071
12/31/20251,412550703716N/A
9/30/20251,348343750764N/A
6/30/20251,285136798811N/A
3/31/2025973-448783790N/A
12/31/2024661-1,032768769N/A
9/30/2024500-1,308690691N/A
6/30/2024338-1,584611614N/A
3/31/2024318-1,480595599N/A
12/31/2023299-1,377579585N/A
9/30/2023473-1,065671678N/A
6/30/2023648-753763771N/A
3/31/202397742634640N/A
12/31/20221,306836505510N/A
9/30/20221,5221,226529535N/A
6/30/20221,7371,616554560N/A
3/31/20221,7501,558692705N/A
12/31/20211,7631,500830850N/A
9/30/20211,6731,319907925N/A
6/30/20211,5841,138983999N/A
3/31/20211,450779877884N/A
12/31/20201,317420770768N/A
9/30/20201,403696739741N/A
6/30/20201,489973708714N/A
3/31/20201,5501,261652658N/A
12/31/20191,6111,549596602N/A
9/30/20191,4711,415N/A547N/A
6/30/20191,3311,281N/A493N/A
3/31/20191,3661,370N/A627N/A
12/31/20181,4001,458N/A760N/A
9/30/20181,3891,594N/A685N/A
6/30/20181,3791,729N/A610N/A
3/31/20181,3971,637N/A573N/A
12/31/20171,4161,545N/A536N/A
9/30/20171,3961,405N/A597N/A
6/30/20171,3761,264N/A657N/A
3/31/20171,2861,221N/A592N/A
12/31/20161,1971,178N/A527N/A
9/30/20161,2951,219N/A595N/A
6/30/20161,3921,260N/A664N/A
3/31/20161,4001,209N/A706N/A
12/31/20151,4091,158N/A747N/A
9/30/20151,260889N/A704N/A
6/30/20151,111619N/A661N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: DXS's forecast earnings growth (6.6% per year) is above the savings rate (3.6%).

Earnings vs Market: DXS's earnings (6.6% per year) are forecast to grow slower than the Australian market (12% per year).

High Growth Earnings: DXS's earnings are forecast to grow, but not significantly.

Revenue vs Market: DXS's revenue is expected to decline over the next 3 years (-14.6% per year).

High Growth Revenue: DXS's revenue is forecast to decline over the next 3 years (-14.6% 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 (6.4%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/16 02:10
End of Day Share Price 2026/05/15 00:00
Earnings2025/12/31
Annual Earnings2025/06/30

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 21 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Benjamin BrayshawBarrenjoey Markets Pty Limited
Nicholas McGarrigleBarrenjoey Markets Pty Limited
Donald ChuaBofA Global Research