Key highlights

  • Goodman reported FY26 operating profit of A$2,674.5 million, up 15.7%, and operating EPS of 129.9 cents, up 10.1%, on 20 August 2026.
  • Work in progress was A$19.7 billion across 50 projects, with data centres making up 78%.
  • The company is targeting FY27 operating EPS growth of 9%.

Goodman Group (ASX:GMG) released its results for the year ended 30 June 2026 on 20 August 2026. The announcement covered operating profit, development activity, the growth of data centres, gearing and a target for FY27. Figures are in Australian dollars.

About Goodman Group

Goodman owns, develops and manages industrial and logistics property and data centres across the world, often through partnerships with Investment partners. It holds a total portfolio of A$89.0 billion.

Financial results

Operating profit was A$2,674.5 million, up 15.7%, and operating Earnings per security were 129.9 cents, up 10.1%. Statutory profit was A$2,778.7 million. Net tangible assets per security were A$11.79, up 7%, and the distribution per security was 30.0 cents for FY26.

Gearing was 6.5% compared with 4.3% a year earlier, with look-through gearing of 19.5% and an Interest Cover ratio of 25.4 times. Group Liquidity was A$6.4 billion.

Portfolio and development

The total portfolio was A$89.0 billion, with Revaluation gains of A$3.1 billion across the Group and its partnerships, of which A$229.7 million was the Group’s share. Occupancy was 95.6% and like-for-like net property income grew 4.0%.

Work in progress was A$19.7 billion across 50 projects in 12 countries, with a forecast Yield on cost of 8.2%. Data centres made up 78% of development work in progress.

Power bank and FY27 target

The global power bank increased to 6.4 GW across 16 major cities, from 5.0 GW across 13 cities. The company said secured power, scarce land and customer and investment partner engagement support its development pipeline. It is targeting FY27 operating EPS growth of 9%.

Risks to consider

Growth depends heavily on data centre developments, which now make up 78% of work in progress and are exposed to customer demand, power availability and construction timing. Gearing increased, although from a low level.

Revaluation gains of A$3.1 billion depend on property valuations and interest rates. The 9% FY27 EPS growth target is lower than FY26 growth, and development involves cost, planning and execution risk across 12 countries.

Catalysts to watch

Items to watch include delivery of the A$19.7 billion work in progress, growth of the 6.4 GW power bank, FY27 operating EPS growth of 9%, occupancy and net property income growth, and gearing.