Key highlights

  • Propel reported FY26 Revenue of $226.6 million, in line with the prior year, and operating EBITDA of $55.3 million, down 1.6%, in its 25 August 2026 release.
  • Operating NPAT was $20.7 million, down 4.0%, and total dividends were 14.4 cents, fully franked.
  • Five acquisitions totalling about $12 million were completed during and since FY26.

Propel Funeral Partners Ltd (ASX:PFP) shares closed at $2.65, up 2.32%, on 21 October 2026. The S&P/ASX 200 Consumer Discretionary [XDJ] index closed at 3,741.90, up 0.34% (12.50 points), while the S&P/ASX 200 [XJO] finished at 8,831.30, up 0.16%, and the All Ordinaries at 8,956.60, up 0.14%, as at 5:00 pm GMT+11. Propel Funeral Partners is an Australian and New Zealand funeral services operator.

What Propel does

Propel Funeral Partners Limited owns and operates funeral homes, crematoria and cemeteries across Australia and New Zealand, and grows through acquisitions of funeral businesses.

FY26 results

In an ASX announcement dated 25 August 2026, Propel reported revenue of $226.6 million, up 0.3%, within guidance of $225–230 million, and operating EBITDA of $55.3 million, down 1.6%, within guidance of $54.5–56.5 million, with the Margin at 24.4% from 24.9%. Operating NPAT was $20.7 million, down 4.0%, operating EPS was 15.0 cents and Cash Flow conversion was 100.7%. A higher Australian dollar reduced revenue by about $3 million and EBITDA by about $1 million.

Volumes and dividends

Propel performed about 22,850 funerals in FY26, up 1.1%, with comparable funeral volumes about 2% lower. Average revenue per funeral was $6,673, with comparable growth of about 2%. The final Dividend is 6.9 cents, fully franked, payable on 1 October 2026, taking total FY26 dividends to 14.4 cents, unchanged from FY25. Funding capacity was about $169 million including an accordion facility.

Sector context

Consumer discretionary companies depend on household spending, travel, leisure and housing activity, and they are tracked through the S&P/ASX 200 Consumer Discretionary index, which closed at 3,741.90, up 0.34%, on 21 October 2026 alongside a 0.16% rise in the S&P/ASX 200 to 8,831.30. Funeral volumes follow mortality trends and Acquisition activity, with limited sensitivity to economic cycles.

Risks and uncertainties

Comparable volumes declined about 2%, margins and operating NPAT were lower, and currency effects reduced results. Acquisition integration, mortality variability, competition and cost Inflation can affect outcomes.

Catalysts to watch

Items to watch include further acquisitions, comparable volumes, the 1 October 2026 dividend payment and the half-year result.

Closing perspective

Propel’s 25 August 2026 release reported flat revenue within guidance, slightly lower Earnings and a maintained dividend. Acquisition activity will influence the next result.