Stock Analysis

PEXA (ASX:PXA) operates the electronic exchange used for property transactions in Australia, and it is building a presence in the United Kingdom. Its results therefore reflect two different stories: a mature, high-margin Australian exchange and a loss-making international investment.

SEEK operates online employment marketplaces, mainly in Australia and New Zealand (ANZ) and Asia, where its Jobstreet and JobsDB brands operate. Revenue is driven byJobadvertisement volumes and the price, or yield, per advertisement, as well as by add-on products for employers. It also holds …

Half-year profit before tax was $89.1 million (all figures Australian dollars), up 9%, with a margin of 28%, flat on the prior corresponding period. Net profit after tax was $66.8 million, up 6%. Total revenue was $322.7 million, up 11%, of which SaaS and …

WiseTech develops CargoWise, a cloud platform used by freight forwarders and logistics providers to run customs, shipping andWarehouseprocesses. It is used by 23 of the world's top 25 freight forwarders. Revenue has historically come from software fees linked to transaction volumes and users.

Xero provides cloud accounting andBusinesssoftware to small businesses and their accountants. Revenue is subscription-based, so it is driven by two things: the number of subscribers and the average revenue per customer. Upgrades, price changes, add-on products and, now, payments functionality all feed the second …

Revenue rose 9.2% to $1,295.4 million. Underlying EBITDA rose 19.6% to $165.3 million, lifting the underlying EBITDAMarginby 1.2 percentage points to 12.8%. Underlying NPATA was $70.2 million, up 25.8%.

Revenue was $664.3 million (all figures Australian dollars), up 21.6% from $546.5 million. Underlying EBITDA rose 33.1% to $122.7 million, an 18.5% margin, above the upgraded guidance range of $118 million to $122 million. Reported EBITDA was $106.6 million.