The Macquarie Group Ltd (ASX: MQG) share price has been a strong performer since COVID-19, significantly outperforming the S&P/ASX 200 Index (ASX: XJO).
As the above chart shows, at the time of writing, the ASX 200 has rise 23% in the last five years while Macquarie shares have increased by 54%. In other words, Macquarie's capital growth has been more than double that of the ASX 200.
Not many ASX blue-chip shares have outperformed the ASX 200 as much as that over the last five years. Let's look at what a difference that has made with $10,000.
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$10,000 investment difference
Five years ago, as the world was still dealing with the effects of COVID-19, the Macquarie share price was sitting in the $150s. With $10,000, an investor could have bought 63 Macquarie shares.
Today, with $10,000, an investor can buy 40 Macquarie shares.
Why has the Macquarie share price performed so well?
If I'd looked at the five-year performance in March 2026, the return would not be as impressive.
The ASX financial share has recovered following initial weakness surrounding the Middle East conflict. In fact, the energy price volatility may have helped the commodities and global markets (CGM) segment generate stronger profits.
The latest update from the business – which is currently the biggest influence on the Macquarie share price – was the FY26 result.
FY26 net profit grew 30% to $4.85 billion, and the second-half net profit increased by 93% year over year.
Looking at the operating performance of its individual segments, CGM saw FY26 net profit jump 49% to $4.2 billion. This profit saw a higher asset finance contribution following the gain on the sale of the OnStream meters platform, while the commodities contribution was higher due to increased risk management income from client hedging activity across global gas and power and the global oil businesses.
Macquarie Asset Management's (MAM) net profit grew 27% to $2.6 billion, primarily driven by higher performance fees.
Banking and financial services (BFS) net profit rose 17% to $1.6 billion, with growth in both the loan portfolio and BFS deposits.
Macquarie Capital – the investment banking division – achieved 43% profit growth to $1.49 billion thanks to higher income from equity investments, merger and acquisition fees, brokerage, and the private credit portfolio.
Time will tell how the business performs from here, but its current profit generation is going very well.
