What Investors Should Know About Soul Patts’ (ASX:SOL) Growth Outlook

Sonal Goyal

20 October 2026 03:22 PM AEDT

What Investors Should Know About Soul Patts’ (ASX:SOL) Growth Outlook

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Key highlights

Soul Patts reported net asset value of $13.8 billion, up 14.6%, for the half year ended 31 January 2026.
Net Cash Flow from investments rose 15.4% to $334 million, and the fully franked Interim Dividend was 48 cents, up 9.1%.
Statutory NPAT was $2,303 million and Group regular NPAT was $304 million, up 6.7%.

Washington H. Soul Pattinson and Company Limited (ASX:SOL) announced its results for the half year ended 31 January 2026 (1H26) on 26 March 2026. The material provided for this article is the half-year result, not a full-year annual report, and it covers portfolio performance, cash generation and the effect of the Brickworks merger.

About Soul Patts

Soul Patts describes itself as a diversified financials Investment house. It holds a portfolio across asset classes including listed equities, private markets and property, and it measures performance using net asset value, net cash flow from investments and regular profit.

Key performance measures

Pre-tax net asset value was $13.8 billion, up 14.6% from $12.1 billion. Net cash flow from investments rose 15.4% to $334 million, driven by trading gains, and rose 12.5% on a per-share basis against a larger Capital base after the Brickworks merger. The interim dividend was 48 cents per share fully franked, up 9.1% from 44 cents.

Statutory and regular profit

Group statutory NPAT was $2,303 million compared with $327 million. Group regular NPAT, a non-statutory measure, was $304 million, up 6.7% from $285 million. The company noted that statutory profit was affected by the Brickworks merger.

Portfolio performance and liquidity

The portfolio returned 9.7% for the period, outperforming the ASX 200 Total Return index by 6.6%. Following completion of the Brickworks merger, the post-tax portfolio was valued at $14.5 billion as at 31 January 2026. Emerging Companies returned 36.7%, linked to exposure to energy, communication services and defence.

Portfolio turnover excluding the Merger was $4.3 billion, the highest for any six-month period, and the company held $472 million in available cash.

Risks to consider

Net asset value and trading gains depend on market movements across asset classes, and a share of cash flow in the period came from trading gains that may not recur at the same level.

Statutory profit includes merger-related effects and may differ from regular profit. The integration of Brickworks and a larger portfolio increase complexity, and concentrated exposure to a few sectors in Emerging Companies could move results in either direction.

Catalysts to watch

Items to watch include the next result, changes in net asset value, net cash flow from investments, use of the $472 million in available cash, and integration of Brickworks.

FAQs

Q: What was the interim dividend?

A:48 cents per share fully franked, up 9.1%.

Q: What was net cash flow from investments?

A:$334 million, up 15.4%.

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