Balance Sheet StrengthDexus's strong equity ratio (64.3%) and moderate leverage (D/E ~0.49) provide durable financial flexibility. A solid capital base supports funding for developments and cushions rental or market volatility, enabling steady capital recycling and fee-based activity without immediate refinancing stress.
High Gross MarginsA 76% gross margin reflects efficient property operations and effective cost control across leasing and asset management. Persistently high operating margins bolster internal cash generation to fund development, maintain assets, and support distributions, reducing reliance on one-off asset sales.
Diversified Business ModelDexus combines direct property ownership, development and third-party funds management, creating multiple cash streams: rentals, development margins and recurring management fees. This diversification smooths earnings, leverages scale for fee growth and provides multiple pathways for medium-term value creation.