Origin Energy, APA and Transurban FY26 Results: Earnings and Payouts Compared

Sonal Goyal

21 October 2026 11:06 PM AEDT

Origin Energy, APA and Transurban FY26 Results: Earnings and Payouts Compared

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Key highlights

Origin Energy (ASX:ORG) reported FY26 statutory profit of $1,574 million and Underlying Profit of $1,159 million.
APA Group (ASX:APA) reported underlying EBITDA up 8.3% to $2,183 million and a 22nd consecutive year of higher distributions.
Transurban (ASX:TCL) reported FY26 distributions of 69.0 cents per security and expects 72 cents in FY27.

Energy retailers, pipeline owners and toll road operators earn from long-lived Assets and regular customer demand, so their annual results focus on Earnings stability, cash coverage of distributions and growth pipelines. This article reviews the FY26 results of Origin Energy Limited (ASX:ORG), APA Group (ASX:APA) and Transurban Group (ASX:TCL).

Sector context

Energy and infrastructure companies are influenced by Commodity prices, regulated and inflation-linked revenue, traffic volumes, interest costs and Investment in new assets such as batteries, power plants and roads.

Origin Energy Limited (ASX:ORG)

Origin’s full year results, announced on 13 August 2026, showed statutory profit of $1,574 million, up from $1,481 million, and underlying profit of $1,159 million, compared with $1,490 million, reflecting a reduction in commodity-linked earnings from Integrated Gas and higher depreciation, partly offset by Energy Markets. Underlying EBITDA was $3,220 million, compared with $3,411 million, and adjusted free Cash Flow rose by $867 million to $2,074 million. Adjusted net Debt to adjusted underlying EBITDA was 1.6 times.

The final Dividend was 30 cents per share, fully franked, for a total FY26 dividend of 60 cents. Retail added 243,000 customer accounts, 1.3 GW and 4.1 GWh of large-scale batteries were operating in August from a 1.8 GW program, and Octopus Energy grew customer accounts by 2.2 million to 19 million. Kraken Technologies separated from Octopus and completed a US$1 billion Equity raise in July 2026.

APA Group (ASX:APA)

APA announced FY26 results on 20 August 2026, with underlying EBITDA up 8.3% to $2,183 million, exceeding the guidance midpoint, and EBITDA Margin up 370 basis points to 77.9%. Free cash flow rose 3.2% to $1,118 million and statutory net profit after tax rose 81.4% to $234 million. The company delivered $80 million of cost-out initiatives, above a $50 million target.

APA said securityholder distributions increased for the 22nd consecutive year and that its Balance Sheet supports a $3.5 billion FY27–FY29 organic growth pipeline.

Transurban Group (ASX:TCL)

Transurban reported FY26 results on 13 August 2026. Statutory profit after tax was $432 million, average daily traffic rose 2.2% and proportional toll Revenue rose 6.7% to $3,982 million. Proportional operating EBITDA was $3,063 million, up 7.5%, with the EBITDA margin up to 75.7% from 74.9%, and proportional operating costs rose 3.3% to $984 million. Corporate Liquidity was $3.7 billion.

The FY26 distribution was 69.0 cents per stapled security, up 6.2% and 98.1% covered by free cash of 67.7 cents. The FY27 distribution is expected to be 72 cents, with free cash coverage slightly below the 95–105% target range, and the release notes that guidance depends on traffic and macroeconomic factors.

How the three releases compare in focus

Origin’s result reflected lower gas-linked earnings alongside growth in its retail and battery businesses, while APA and Transurban reported higher earnings and distributions from inflation-linked or traffic-driven revenue. Each company reported a final dividend or distribution in line with or above the prior year.

FAQs

Q: What was Origin Energy’s (ASX:ORG) FY26 total dividend?

A:60 cents per share, fully franked.

Q: What FY27 distribution does Transurban (ASX:TCL) expect?

A:72 cents per stapled security.

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