Key highlights

  • Macquarie Technology reported FY26 EBITDA of $115.9 million, up 2.0%, in its 26 August 2026 release, marking twelve consecutive years of EBITDA growth.
  • The National Reconstruction Fund Corporation is investing $200 million in perpetual securities, with the first $100 million issued on 1 June 2026.
  • A site for a proposed ~200MW Macquarie Park campus was acquired on 6 August 2026, taking estimated data centre capacity to about 268MW.

On 21 October 2026, Macquarie Technology Group Ltd (ASX:MAQ) shares were higher by 0.94% at $45.525 during the trading session. Benchmarks for the session included the S&P/ASX 200 Info Tech [XIJ] at 1,614.00, lower by 3.38% or 56.50 points, and the S&P/ASX 200 [XJO] at 8,811.10, lower by 0.066% or 5.80 points, at 3:12 pm GMT+11. On Wall Street on Tuesday, the Dow Jones Industrial Average climbed 1.02% to 52,495.88 and the S&P 500 gained 0.28% to 7,712.57, while the Nasdaq Composite fell about 0.02% to 26,424.82, with several large technology shares retreating as investors weighed valuations and upcoming results. Macquarie Technology is an Australian provider of data centres, cloud, cyber security and telecommunications services.

What Macquarie Technology does

Macquarie Technology Group Limited provides data centre, cloud, cyber security and telecommunications services to enterprise and government customers. Its Macquarie Data Centres (MDC) Business operates facilities in Sydney, including IC3 Super West, a development in the Northern Zone. The company reports that 95% of Revenue comes from contracted monthly recurring revenue.

FY26 financial results

In a release dated 26 August 2026 for the year ended 30 June 2026, Macquarie Technology said results were in line with guidance. Group EBITDA was $115.9 million, up 2.0% from $113.6 million, the twelfth consecutive year of EBITDA growth. Operating Cash Flow was $94.6 million, a 108% cash conversion. Capital Expenditure was $230.5 million, including growth capex of $193.3 million, of which $186.2 million was for IC3 SuperWest.

The company noted that data centre Investment increases financing and Depreciation costs, which affects earnings per share.

Funding and capacity

The Australian Government invested $200 million into Macquarie Technology through the National Reconstruction Fund Corporation, through $200 million of perpetual, callable, subordinated, unsecured, non-convertible securities issued in two $100 million series, the first issued on 1 June 2026 and the second by 1 March 2027. The company also has an undrawn Debt Facility of $496.5 million and the second $100 million hybrid series available.

On 6 August 2026, MDC completed the Acquisition of a roughly 34,200 sqm site in Macquarie Park to support a proposed ~200MW Macquarie Engineering & Technology Campus, bringing estimated total capacity to ~268MW, of which 265MW is within Sydney’s Tier 1 Northern Zone.

FY27 outlook

The company expects modest EBITDA growth in FY27, assuming IC3 SuperWest Phase 1 revenue commences in the second half of FY27. Construction of IC3 SuperWest Phase 1 (6MW) remains on track and on budget. Holding Costs of the Macquarie Park site are estimated at about $1 million to $2 million per year, excluding financing costs.

Sector context

Technology shares are being assessed against earnings and valuations. During the session, the S&P/ASX 200 Info Tech index was at 1,614.00, down 3.38%, and the broader S&P/ASX 200 was at 8,811.10. In the United States, the Nasdaq is described as sensitive to corporate earnings and forward guidance and to artificial intelligence infrastructure spending. Data centre operators depend on Demand for cloud and AI capacity, power availability and capital costs, and the release refers to sovereign digital infrastructure.

Risks and uncertainties

EBITDA growth was 2.0%, with higher financing and depreciation costs reducing earnings per share, and FY27 growth is described as modest and dependent on IC3 SuperWest revenue starting in 2H FY27. Capital expenditure of $230.5 million exceeds operating cash flow, with funding relying on hybrid securities and debt facilities. Construction schedule, power supply, customer take-up and the cost of the new campus can affect outcomes.

Catalysts to watch

Items to watch include IC3 SuperWest Phase 1 commissioning and revenue start, the second $100 million NRFC issuance by 1 March 2027, development of the Macquarie Park campus and customer contracts.

Summing up

Macquarie Technology’s 26 August 2026 release recorded steady EBITDA growth, new government-linked funding and an expanded development pipeline. Later results will show when the new capacity generates revenue.