The SEEK Ltd (ASX: SEK) share price is on watch today after the company reported a 17% jump in sales revenue and a record annual dividend for FY2026.
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What did SEEK Ltd report?
- Sales revenue rose 17% to $1,284 million
- Net revenue increased 10% to $1,199 million
- EBITDA grew 15% to $530 million, with margin up to 44%
- Adjusted profit climbed 28% to $199 million
- Free cash flow up 21% to $246 million
- Final dividend of 25 cents per share, taking the full-year payout to a record 52 cents, up 13%
What else do investors need to know?
SEEK has delivered its sixth consecutive year of double-digit yield growth across the Asia-Pacific region. Despite softer job ad volumes, especially in Australia and certain Asian markets, strong yield gains and investment in technology have underpinned the group's robust results.
The group's SEEK Growth Fund recorded a net loss of $201 million, mostly on the back of valuation declines in HR SaaS assets. Management says the sale process for the Fund's Employment Hero stake is ongoing, with further asset sales likely before the end of 2026.
What did SEEK Ltd management say?
SEEK CEO and Managing Director Ian Narev commented:
SEEK again delivered against our financial and operating commitments. We recorded our sixth consecutive year of double digit yield growth, ensuring that revenue growth again outpaced cost growth to deliver a fourth consecutive half of operating leverage, despite a slightly weaker volume environment. Placement share was stable, reinforcing our leadership position across our APAC markets.
Strong and consistent operational performance again led to standout financial results. EBITDA was up 15% and adjusted profit up 28%. The resulting 21% increase in free cash flow, combined with our conviction in the future, gave our Board the confidence to determine a record full year dividend. The fact that these results were achieved despite lower paid ad volumes shows the significant benefits of our investment in Platform Unification and AI capability, making SEEK's marketplace even more valuable.
What's next for SEEK Ltd?
Looking ahead, SEEK is targeting revenue of $1,210–$1,280 million and EBITDA of $530–$580 million in FY2027, with continued focus on its AI and technology investments. Management has upgraded its medium-term goals, aiming for at least 10% yield growth annually and mid-single digit cost growth through the cycle.
Despite global economic uncertainties, SEEK expects to continue delivering revenue growth and operating leverage by building on its strong platform, driving product innovation and targeting improved productivity.
SEEK Ltd share price snapshot
The SEEK share price has been out of form over the past 12 months with a disappointing decline of 34%. This compares to a gain of around 4% from the S&P/ASX 200 index (ASX: XJO).
