Ingenia Communities Group (INA) AI Stock Analysis

• Market Cap: AU$1.84B
• Dividend Yield: 1.81%
• Average Volume (3M): 918.23K
• Price to Earnings (P/E): 5.4
• Beta (1Y): 0.92
• Revenue Growth: 6.96%
• EPS Growth: 815.99%
• Country: AU
• Employees: 1,300
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Residential
• EPS (TTM): 0.15
• Shares Outstanding: 407,583,250
• 10 Day Avg. Volume: 538,609
• 30 Day Avg. Volume: 918,233
• PEG Ratio: 0.02
• Price to Book (P/B): 1.42
• Price to Sales (P/S): 4.27
• P/FCF Ratio: 16.05
• 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: AU$5.89
• Price Target Upside: 31.18% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 0.34
• Revenue Forecast (FY): AU$517.39M

• Rating: 70 Outperform
• Price Target: AU$5.00 ▲(11.36% Upside)
• Action: Reiterated Date: 02/24/26
• Date: Action: Reiterated 02/24/26

The score is driven primarily by strong financial performance (healthy margins and cash conversion) and a constructive earnings outlook with reiterated guidance and pipeline visibility. These positives are partially offset by weak technicals (price below key moving averages with negative MACD) and only moderately supportive valuation.

Positive Factors

Profitability & Cash Conversion

High gross and net margins combined with operating cash flow exceeding net income and near‑par free cash flow conversion indicate durable internal cash generation. This supports reinvestment into development, distributions and debt servicing across economic cycles over the next 2–6 months.

Stable Recurring Rental Income & Occupancy

Very high occupancy, rising rents and strong resident satisfaction underpin predictable, recurring cashflows from land‑lease and rental operations. That steady income base improves earnings resilience, funds development starts and cushions short‑term tourism or macro volatility.

Development Margins & JV Cash Generation

Healthy development margins and strong JV per‑lot cash generation materially lift returns on new communities. Coupled with 440 contracts on hand (+23% PCP), this supports the firm's medium‑term settlements growth target and reduces near‑term financing needs for projects.

Negative Factors

Rising Operating Costs

Significant above‑inflation increases in utilities, council charges and customer acquisition costs structurally compress margins across holidays and lifestyle rental segments. Unless passed to residents or offset by efficiency gains, these cost pressures can erode cashflow and development returns over coming quarters.

Near‑term Development Cash Profit & Settlement Timing

Negative development cash profit and a pronounced H1 settlement skew create timing risk for cash generation. Until expected H2 positive cash conversion occurs, working capital and funding needs may tighten, constraining reinvestment and increasing reliance on available debt headroom.

JV Reliance & Acquisition Uncertainty

The JV's recent inactivity and an expected peak then decline in its contribution increase dependence on Ingenia's balance sheet to sustain volume growth. That raises execution and funding risk for sustaining the settlements CAGR without renewed JV acquisitions or additional capital deployment.

Ingenia Communities Group Business Overview & Revenue Model

Company Description

Ingenia is an S&P/ASX 200 entity and listed on the Australian Securities Exchange under the stock market trading code 'INA'. With a positive impact on more than 10,850 residents each and every day, our commitment to all stakeholders is to perform with integrity, foster respect for all and build community through continuous improvement in everything we do. In addition to the Group's on balance sheet portfolio of 99 communities, Ingenia's portfolio includes: five greenfield lifestyle community developments owned through a development Joint Venture with Sun Communities, Inc (NYSE: SUI); and six established communities through the Group's managed funds. In addition to ownership interests in the JV and funds, Ingenia receives fees for services provided to these entities. The Group is supported by over 4,000 investors and more than 1,200 employees dedicated to creating community for our residents and guests.

How the Company Makes Money

Ingenia Communities generates revenue through several key streams. The primary source of income comes from the sale and leasing of residential properties within its communities, including land lease agreements where residents pay a weekly site fee for the land on which their homes are located. Additionally, the company earns income from the sale of manufactured homes and other residential units. Ingenia also benefits from ancillary services such as community facilities and amenities, which enhance the living experience for residents and can contribute to additional fees. Strategic partnerships with developers, local governments, and financial institutions further bolster its revenue potential, while ongoing management fees from its established communities provide a consistent income stream.

Ingenia Communities Group Financial Statement Overview

Summary

Strong operating profile supported by high margins (gross ~62.5%, net ~24.3%) and robust cash conversion (operating cash flow to net income 1.16; free cash flow to net income ~96.9%). Balance sheet is solid but less standout (debt-to-equity 0.55; ROE 8.0%), keeping the score below the income statement strength.

Income Statement

Ingenia Communities Group has demonstrated strong revenue growth, with a notable increase of 39.3% in the latest year. The company maintains healthy profit margins, with a gross profit margin of 62.5% and a net profit margin of 24.3%. The EBIT and EBITDA margins are also robust at 30.9% and 31.8%, respectively. These figures indicate efficient operations and profitability, contributing to a high score.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 0.55, indicating a balanced approach to leveraging. The return on equity is 8.0%, reflecting decent profitability relative to shareholder equity. The equity ratio stands at 58.5%, suggesting a solid equity base. While the company is stable, there is room for improvement in leveraging and returns.

Cash Flow

Ingenia Communities Group has shown a significant improvement in free cash flow growth at 10.8%. The operating cash flow to net income ratio is 1.16, indicating strong cash generation relative to net income. The free cash flow to net income ratio is high at 96.9%, demonstrating efficient cash flow management. These factors contribute to a strong cash flow position.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	523.87M	529.39M	466.33M	395.95M	338.18M	295.59M
Gross Profit	330.17M	331.13M	287.05M	254.10M	212.57M	175.95M
EBITDA	226.50M	168.57M	77.48M	109.44M	81.39M	94.79M
Net Income	138.25M	128.43M	14.02M	64.37M	100.59M	72.78M
Balance Sheet
Total Assets	2.97B	2.73B	2.48B	2.38B	2.18B	1.37B
Cash, Cash Equivalents and Short-Term Investments	9.86M	13.37M	14.46M	45.72M	14.49M	18.80M
Total Debt	977.54M	879.04M	754.15M	661.67M	495.60M	274.33M
Total Liabilities	1.30B	1.13B	965.17M	841.34M	668.46M	377.24M
Stockholders Equity	1.67B	1.60B	1.51B	1.54B	1.51B	993.03M
Cash Flow
Free Cash Flow	119.95M	140.71M	77.58M	78.09M	112.18M	132.95M
Operating Cash Flow	124.96M	145.24M	82.19M	82.50M	114.90M	137.65M
Investing Cash Flow	-217.57M	-215.78M	-148.14M	-168.05M	-731.71M	-275.63M
Financing Cash Flow	87.46M	69.45M	34.69M	116.79M	612.50M	146.03M

Ingenia Communities Group Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 4.49
• 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:INA, the sentiment is Neutral. The current price of 4.49 is below the 20-day moving average (MA) of 4.50, below the 50-day MA of 4.81, and below the 200-day MA of 5.26, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 45.13 is Neutral, neither overbought nor oversold. The STOCH value of 52.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:INA.

Ingenia Communities Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
APZ	71 Outperform	AU$1.38B	9.15	11.76%	1.83%	17.91%	6.19%
INA	70 Outperform	AU$1.84B	5.41	8.27%	1.81%	6.96%	815.99%
CIP	70 Outperform	AU$1.99B	7.50	5.38%	4.85%	4.39%	176.52%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
HMC	60 Neutral	AU$1.06B	24.03	10.22%	3.17%	206.14%	101.96%
LIC	48 Neutral	AU$589.58M	9.71	-26.73%	―	-38.91%	-453.73%
URF	45 Neutral	AU$129.08M	-3.53	-5.60%	2.62%	-35.85%	35.27%

Ingenia Communities Group Corporate Events

Ingenia Uses 1H26 Update to Highlight Community and Cultural Focus

Ingenia Communities has released its 1H26 results presentation, using the occasion to reiterate its acknowledgement of Traditional Owners and highlight the cultural and environmental values underpinning its operations. Through the featured artwork ‘Journey’, the group underscores themes of sustainability, unity and connection to country, reinforcing its branding around community-focused and culturally respectful real estate developments.

The emphasis on First Nations heritage and symbolic design elements suggests Ingenia is deepening its social and cultural positioning alongside its financial reporting. This approach may strengthen stakeholder perceptions of the company’s commitment to responsible development and community integration, particularly in its holiday and residential community assets across Australia.

The most recent analyst rating on (AU:INA) stock is a Buy with a A$5.00 price target. To see the full list of analyst forecasts on Ingenia Communities Group stock, see the AU:INA Stock Forecast page.

Ingenia Holds FY26 Guidance at Top of Range as Second-Half Development Surge Looms

Ingenia Communities affirmed its full-year guidance at the top of its range after a solid first half, with underlying profit of $62.1 million and statutory profit up 11% to $97.4 million, despite a 10% fall in underlying EPS due to a second-half skew in home settlements, higher interest costs and the absence of certain income streams. Revenue was flat at $257.3 million and EBIT eased 1% to $85 million, but the group settled 248 new homes, maintained home sales pricing and margins, and grew Lifestyle Rental and Holidays EBIT by 6% and 10% respectively, underpinning expectations of stronger second-half development activity from a 4,946-site pipeline and supporting cash generation, distributions and long-term scale in its land lease and holiday communities.

Management said operational momentum remains strong with high residential and improving holiday occupancy, 13 active projects in market and eight more commencing this year, and a sharpened operating model delivering productivity gains and financial discipline. Ingenia reported gearing and hedging within target ranges and flagged that lower-growth assets have been identified for potential recycling, positioning the group to fund accelerated development, enhance returns and execute on its five-year plan for 10–15% compound growth in settlements.

The most recent analyst rating on (AU:INA) stock is a Buy with a A$5.00 price target. To see the full list of analyst forecasts on Ingenia Communities Group stock, see the AU:INA Stock Forecast page.

Ingenia Communities Sets March 2026 Payout on Stapled Securities

Ingenia Communities Group has declared a six-month distribution of AUD 0.048 per fully paid stapled security for the period ending 31 December 2025, reinforcing its pattern of regular investor returns. The distribution will trade ex on 27 February 2026, with a record date of 2 March 2026 and payment scheduled for 26 March 2026, outlining a clear timetable for income-focused security holders.

The announcement, lodged as a new notification under the ASX code INA, confirms the payment applies to all fully paid ordinary stapled securities on issue. By specifying the distribution rate and key dates, Ingenia provides transparency for investors planning cash flow and portfolio allocations around the March 2026 payout.

The most recent analyst rating on (AU:INA) stock is a Buy with a A$5.00 price target. To see the full list of analyst forecasts on Ingenia Communities Group stock, see the AU:INA Stock Forecast page.

Ingenia lifts profit and asset values as underlying earnings ease

Ingenia Communities Group reported half-year revenue of $257.3 million for the period to 31 December 2025, broadly flat on the prior corresponding period, while net profit attributable to members rose 11% to $97.4 million and underlying profit fell 10% to $62.1 million. The group maintained its interim distribution at 4.8 cents per security despite a lower final distribution versus the previous year, and lifted net tangible asset value per security by 7% to $4.10, underscoring balance sheet growth even as operating profitability softened.

The company confirmed no acquisitions or disposals affecting control during the half, and highlighted its 50% interests in a suite of Sungenia-branded joint venture entities covering land, operations and development. The reviewed results, signed off by Ernst & Young, point to a period of stable top-line performance and asset value appreciation, with investors’ returns increasingly driven by capital growth and ongoing distributions rather than near-term earnings expansion.

The most recent analyst rating on (AU:INA) stock is a Buy with a A$5.00 price target. To see the full list of analyst forecasts on Ingenia Communities Group stock, see the AU:INA Stock Forecast page.

First Sentier Investors Exits Substantial Holding in Ingenia Communities

Mitsubishi UFJ Financial Group’s asset management arm First Sentier Investors and its related entities have lodged a notice that they have ceased to be a substantial holder in Ingenia Communities Group as of 6 February 2026. The change, detailed in a Form 605 filing signed by company secretary Lisa Warburton, reflects a reduction in aggregated voting power below the substantial holding threshold.

The move signals a repositioning by a major global institutional investor with exposure across multiple jurisdictions, including Australia, Hong Kong, Luxembourg and the U.K., potentially altering Ingenia’s register mix away from this large international shareholder cluster. While no consideration details were disclosed in the notice, the exit may modestly impact trading liquidity and institutional ownership dynamics in the ASX-listed seniors living and lifestyle communities operator.

The most recent analyst rating on (AU:INA) stock is a Buy with a A$5.00 price target. To see the full list of analyst forecasts on Ingenia Communities Group stock, see the AU:INA Stock Forecast page.

Ingenia Communities Cancels 35,784 Performance Rights in Capital Restructure Update

Ingenia Communities Group has notified the market of the cessation of 35,784 performance rights, recorded under ASX security code INAAB, effective 31 December 2025. The termination of these securities, disclosed via an Appendix 3H filing, reflects a change in the group’s issued capital structure and may indicate adjustments to its executive or employee incentive arrangements, with flow-on implications for equity-based remuneration and dilution for existing securityholders.

The most recent analyst rating on (AU:INA) stock is a Hold with a A$6.28 price target. To see the full list of analyst forecasts on Ingenia Communities Group stock, see the AU:INA Stock Forecast page.

Ingenia Communities Announces Director Interest Changes

Ingenia Communities Group has announced changes in the interests of its directors, specifically for Mr. Simon Shakesheff and Ms. Jennifer Fagg. These changes are part of the company’s compliance with ASX listing rules, reflecting updates in the directors’ securities holdings, which could impact the company’s governance and stakeholder relations.

The most recent analyst rating on (AU:INA) stock is a Hold with a A$6.28 price target. To see the full list of analyst forecasts on Ingenia Communities Group stock, see the AU:INA Stock Forecast page.

Ingenia Communities Group Appoints Toby Hall as Non-Executive Director

Ingenia Communities Group has appointed Mr. Toby Hall as an independent Non-Executive Director, effective December 1, 2025. Mr. Hall brings a wealth of experience from executive leadership roles in the healthcare and for-purpose sectors, including his previous positions as Group CEO of St Vincent’s Health Australia and CEO of Mission Australia. His appointment is part of Ingenia’s strategic focus on board evolution and enhancing its customer-centric approach, particularly in addressing the housing needs of Australia’s ageing demographic. This move is expected to strengthen Ingenia’s operations and industry positioning, benefiting stakeholders by aligning with the company’s strategic goals.

The most recent analyst rating on (AU:INA) stock is a Hold with a A$6.28 price target. To see the full list of analyst forecasts on Ingenia Communities Group stock, see the AU:INA Stock Forecast page.