The ASX Ltd (ASX: ASX) share price is in focus after reporting a 7% increase in operating revenue to $1.11 billion and underlying net profit after tax (NPAT) up 7.5% to $510 million for FY25.
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What did ASX Ltd report?
- Operating revenue of $1.11 billion, up 7.0% on FY24
- Underlying NPAT of $510.0 million, up 7.5%
- Statutory NPAT of $502.6 million, up 6.0%
- Total expenses of $460.3 million, up 7.2%
- Final fully franked dividend of 112.1 cents per share; total FY25 dividend 223.3 cents, up 7.4%
- Underlying return on equity at 13.6%, up from 13.0% in FY24
What else happened in FY25?
The year saw solid growth in three out of four business lines. Markets, Technology & Data, and Securities & Payments all lifted revenue, while the Listings business remained steady. Cash market trading revenue rose 15.3% on increased activity, and Austraclear revenue jumped 16.7% driven by the debt market.
Cost growth was below the mid-point of guidance, thanks to ongoing expense management. The company launched its Accelerate Program, aiming to improve risk management and accelerate key aspects of its five-year transformation strategy.
What did ASX Ltd management say?
Commenting on the result, Managing Director and CEO Helen Lofthouse said:
ASX faced several challenges in FY25 and we recognise we have further work to do, through the disciplined execution of our transformation strategy, to build confidence in ASX and deliver better outcomes for all our stakeholders. While we do not underestimate the work ahead, our financial results today demonstrate that the fundamentals of our business remain compelling.
What's next for ASX Ltd?
Looking ahead, ASX will focus on its transformation program and responding to the ASIC Inquiry, which is expected to bring higher core business costs in FY26. The CHESS replacement project is progressing, with the first industry test environment now live and Release 1 targeted for the fourth quarter of FY26.
ASX also plans to introduce new data products and support ongoing listings activity. Early FY26 has seen continued momentum in cash market trading, with July 2025 values up 20% compared to the previous year.
ASX Ltd share price snapshot
Over the last 12 months, the ASX Ltd share price is roughly flat, underperforming S&P/ASX 200 Index (ASX: XJO), which has risen 13%.
