Australian Unity Office Fund (AOF) AI Stock Analysis

• Market Cap: AU$61.64M
• Dividend Yield: 15.14%
• Average Volume (3M): 44.94K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.13
• Revenue Growth: -68.24%
• EPS Growth: 42.03%
• Country: AU
• Employees: N/A
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Office
• EPS (TTM): -0.05
• Shares Outstanding: 164,383,440
• 10 Day Avg. Volume: 72,985
• 30 Day Avg. Volume: 44,935
• PEG Ratio: 0.05
• Price to Book (P/B): 1.07
• Price to Sales (P/S): 11.02
• P/FCF Ratio: 62.37
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): >-0.01
• Revenue Forecast (FY): AU$4.90M

• Rating: 49 Neutral
• Price Target: AU$0.38 ▼(-3.08% Downside)

The score is held back primarily by significant deterioration in financial performance (sharp revenue contraction, sustained losses, and a steep drop in free cash flow), partially offset by a low-risk balance sheet (zero debt). Technicals are neutral-to-weak with price below key longer-term averages, while valuation is supported by the very high dividend yield but tempered by a negative P/E tied to ongoing losses.

Positive Factors

Conservative Capital Structure

A zero-debt position reduces financial risk, providing flexibility in managing cash flows and investments, especially during economic downturns.

Positive Free Cash Flow

Maintaining positive free cash flow allows the company to support operations and potential distributions, even amidst profitability challenges.

High Dividend Yield

A high dividend yield can attract income-focused investors, providing a cushion against share price volatility and supporting shareholder returns.

Negative Factors

Revenue Contraction

Significant revenue decline indicates challenges in maintaining tenant occupancy or rental rates, impacting long-term growth prospects.

Persistent Losses

Ongoing losses suggest operational inefficiencies or market pressures, which could hinder future investment and growth opportunities.

Shrinking Asset Base

A reduced asset base limits the company's ability to leverage property investments for revenue generation and may affect its market position.

Australian Unity Office Fund Business Overview & Revenue Model

Company Description

AOF is an ASX-listed REIT that wholly owns a diversified portfolio of nine office properties located across Australian metropolitan and CBD markets in Sydney, Adelaide, Melbourne, Brisbane and Canberra.

How the Company Makes Money

AOF generates revenue primarily through rental income from its portfolio of office properties. The company leases these properties to a variety of tenants, including government entities, large corporations, and small businesses, ensuring a stable and diversified income stream. AOF also aims to enhance its revenue by actively managing its assets to improve occupancy rates, negotiating favorable lease terms, and undertaking strategic capital improvements to increase property values. Additionally, the fund may occasionally realize gains through the strategic sale of properties that have appreciated in value. These activities are supported by partnerships with property management firms and leasing agents, which help optimize the performance and occupancy of AOF's assets.

Australian Unity Office Fund Financial Statement Overview

Summary

The company's financial performance is challenged by declining revenue and profitability issues, with a negative net profit margin. However, the balance sheet is robust with no debt, and cash flow management is strong, which provides some stability.

Income Statement

The income statement shows a declining trend in total revenue from 2019 to 2024, with a significant drop in gross profit and net income in recent years. The net profit margin has been negative in the TTM period, indicating losses. Despite a positive EBIT margin in the TTM period, the EBIT and EBITDA margins have been volatile, reflecting operational challenges.

Balance Sheet

The balance sheet is relatively strong with no total debt in the TTM period, improving the debt-to-equity ratio. However, the equity ratio has declined over the years, indicating reduced financial stability. The return on equity is negative due to net losses, highlighting profitability issues.

Cash Flow

The cash flow statement shows a stable operating cash flow relative to net income, despite net losses. The free cash flow growth rate is positive in the TTM period, indicating effective cash management. However, the free cash flow to net income ratio is affected by persistent losses.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.93M	7.08M	24.77M	31.64M	46.65M	50.88M
Gross Profit	7.93M	-273.00K	15.40M	18.04M	29.90M	31.12M
EBITDA	-925.00K	-35.52M	-60.36M	-120.00K	38.18M	32.06M
Net Income	-35.59M	-35.59M	-61.39M	-4.44M	-48.35M	23.26M
Balance Sheet
Total Assets	78.51M	78.51M	252.97M	358.23M	554.00M	649.38M
Cash, Cash Equivalents and Short-Term Investments	25.96M	25.96M	25.20M	43.86M	3.26M	8.94M
Total Debt	0.00	0.00	0.00	0.00	169.59M	190.16M
Total Liabilities	5.52M	5.52M	23.74M	44.60M	182.51M	204.54M
Stockholders Equity	72.99M	72.99M	229.23M	313.62M	371.49M	444.83M
Cash Flow
Free Cash Flow	1.25M	1.25M	18.15M	15.46M	23.00M	30.91M
Operating Cash Flow	1.25M	1.25M	18.15M	15.46M	23.00M	30.91M
Investing Cash Flow	136.18M	136.18M	8.90M	208.96M	16.73M	22.30M
Financing Cash Flow	-136.67M	-136.67M	-45.71M	-183.82M	-45.40M	-50.07M

Australian Unity Office Fund Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.39
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:AOF, the sentiment is Neutral. The current price of 0.39 is above the 20-day moving average (MA) of 0.38, above the 50-day MA of 0.38, and below the 200-day MA of 0.44, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 50.85 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:AOF.

Australian Unity Office Fund Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
GDI	63 Neutral	AU$340.09M	9.55	5.37%	7.69%	17.85%	―
WOT	56 Neutral	AU$100.29M	-21.45	-2.01%	3.95%	-5.21%	-14350.00%
CMW	54 Neutral	AU$1.19B	-20.31	-9.33%	6.12%	-5.64%	89.16%
COF	53 Neutral	AU$666.03M	-33.69	-1.91%	8.63%	-4.50%	88.28%
AOF	49 Neutral	AU$61.64M	-1.73	-23.55%	15.14%	-68.24%	42.03%
TOT	49 Neutral	AU$87.66M	66.39	1.03%	7.41%	-4.87%	―