Highlights

  • First-half FY27 net profit was AUD 2,478 million, up 50% from first-half FY26.
  • First-half FY27 net Operating Income rose 10% to AUD 9,568 million.
  • Commodities and Global Markets contributed AUD 2,034 million of net profit.
  • The first-half FY27 Interim Dividend was AUD 3.25 per share, 35% franked.

Macquarie Group Limited is a global financial-services group operating in asset management, banking, commodities and financial markets, and Capital advisory and investment. Macquarie Group Limited (ASX:MQG) shares closed at AUD 251.54 on 10 November 2026. Its 2026 reporting provides detail on financial performance, operating priorities and the factors shaping the next reporting period.

First-Half FY27 Earnings

For the six months ended 30 September 2026, Macquarie reported net profit attributable to ordinary shareholders of AUD 2,478 million, up 50% from the corresponding half. Earnings per share were AUD 6.52, an increase of 49%. Net operating income rose 10% to AUD 9,568 million, while operating expenses increased 1% to AUD 6,317 million.

These comparisons show a stronger first-half result, although the group also reported that net profit was 22% below the immediately preceding six months. Macquarie (ASX:MQG) has activities that can generate uneven earnings across reporting periods. Asset realisations, trading opportunities and transaction timing are therefore important when interpreting half-year movements.

Different Divisions, Different Drivers

Commodities and Global Markets generated a first-half FY27 net profit contribution of AUD 2,034 million, up 83% year on year. The company attributed the increase to higher net interest and trading income across major Business lines and asset sales in asset finance. Banking and Financial Services contributed AUD 841 million, up 6%, supported by Loan and deposit growth but affected by competitive margins and higher provisions.

Macquarie Asset Management contributed AUD 1,509 million, up 28%, including a gain from the sale of Macquarie AirFinance. Macquarie Capital contributed AUD 278 million, down 61%, reflecting lower investment-related income and mergers-and-acquisitions fees. For Macquarie (ASX:MQG), the contrast between divisions illustrates why group profit growth cannot be attributed to a single recurring source.

Capital, Dividend and Risks

The first-half FY27 interim dividend was AUD 3.25 per share, 35% franked. Macquarie reported a bank group Level 2 CET1 ratio of 12.9% on its stated basis and an annualised Return on Equity of 13.8%. These figures provide context for capital adequacy and profitability but do not eliminate market or Credit risk.

Macquarie (ASX:MQG) remains exposed to market activity, funding conditions, asset valuations and credit performance. The FY27 second half may differ materially from the first because transaction completions and trading conditions can change. Monitoring divisional earnings and capital ratios together provides a fuller view than extrapolating one strong half-year result.

Key Insights

Macquarie reported higher first-half FY27 earnings, with pronounced differences between its markets, asset-management, banking and capital businesses. For Macquarie Group Limited (ASX:MQG), reported outcomes and future expectations should be distinguished, particularly where market conditions and operational execution can change results. For Macquarie Group Limited (ASX:MQG), comparisons between reporting periods require consistent definitions. Changes in revenue, profit and asset measures can reflect different drivers, and a single figure does not establish the direction of future results. The next company update will be relevant for checking how the reported operating priorities develop.