The Cedar Woods Properties Ltd (ASX: CWP) share price is in focus today as the company posted a record net profit after tax (NPAT) of $65.6 million for FY26, up 36% on last year, and announced a fully franked final dividend of 25.0 cents per share.
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What did Cedar Woods report?
- Record FY26 NPAT of $65.6 million, up 36% from $48.1 million in the previous year
- Full-year revenue rose to $502.4 million, up from $465.9 million (an increase of 8%)
- Record earnings per share of 77.9 cents, up 33% on prior year
- Fully franked final dividend of 25.0 cents per share declared, bringing total FY26 dividends to 39.0 cents, up 34%
- Record presales of $830 million at 30 June 2026, representing more than 90% of forecast FY27 revenue
- Strong balance sheet with $120 million in available liquidity and gearing at 18%
What else do investors need to know?
Cedar Woods reported a notable increase in enquiries and sales, with gross sales up 5% for FY26 and net sales also rising 5% to hit new highs. Presales provide substantial earnings visibility for FY27, reducing near-term risk.
The company also strengthened its development pipeline with acquisitions in Western Australia, Victoria, and Queensland, adding more than 1,100 new lots and units. In addition, a new WA acquisition after year end allowed expansion of its Bushmead estate.
Cedar Woods completed successful joint venture projects during the year and continues to prioritise partnerships to grow its portfolio.
What did Cedar Woods management say?
Cedar Woods Managing Director Nathan Blackburne commented:
FY26 was the strongest year in Cedar Woods' history, with record results across the key financial and operating measures of the business. The result demonstrates the earnings leverage in the portfolio when higher settlement revenue is combined with stronger margins.
What's next for Cedar Woods?
Looking ahead to FY27, Cedar Woods is targeting 15% NPAT growth, underpinned by its record $830 million in presales, with over 90% of forecast revenue already contracted. The company expects gross margin to remain steady and anticipates softer residential sales conditions early in FY27 before sentiment improves as rates stabilise.
Management highlighted the company's robust pipeline of more than 9,600 lots, homes and offices across four states, and strong balance sheet capacity to pursue further growth through acquisitions and partnerships.
Cedar Woods share price snapshot
Over the past 12 months, Cedar Woods shares have declined 5%, trailing the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
