Ingenia Communities Group (AU:INA)
ASX:INA
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Ingenia Communities Group
(Sydney:INA)
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Rating:70Outperform
Price Target:
AU$4.00
▼(-10.91% Downside)
Action:ReiteratedDate: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
High margins and strong cash conversion
Sustained high gross and net margins plus near-1:1 free cash flow conversion provide durable earnings resilience. This cash convertibility supports reinvestment into developments, funds distributions and buffers against cost inflation, underpinning long-term operational flexibility.
Negative Factors
Regulatory caps constraining rental growth
Binding rent caps create a structural ceiling on rental revenue growth in key states, limiting the company’s ability to pass on cost increases to residents. Over multiple quarters this constrains rental margin expansion and reduces the embedded upside in the land-lease rental model.
Read all positive and negative factors
Positive Factors
Negative Factors
High margins and strong cash conversion
Sustained high gross and net margins plus near-1:1 free cash flow conversion provide durable earnings resilience. This cash convertibility supports reinvestment into developments, funds distributions and buffers against cost inflation, underpinning long-term operational flexibility.
Read all positive factors
Ingenia Communities Group (INA) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.57B
Dividend Yield1.81%
Average Volume (3M)918.23K
Price to Earnings (P/E)5.4
Beta (1Y)0.99
Revenue Growth6.96%
EPS Growth815.99%
CountryAU
Employees1,300
SectorReal Estate
Sector Strength53
IndustryREIT - Residential
Share Statistics
EPS (TTM)0.15
Shares Outstanding407,583,250
10 Day Avg. Volume538,609
30 Day Avg. Volume918,233
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.42
Price to Sales (P/S)4.27
P/FCF Ratio16.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$5.75Price Target Upside28.06% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.34
Revenue Forecast (FY)AU$547.47M
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 ...
How the Company Makes Money
Ingenia Communities Group makes money through a mix of recurring property income, accommodation income, and development-related proceeds across its land lease communities and holiday parks. Key revenue streams include: (1) Land lease community ren...
Ingenia Communities Group Earnings Call Summary
Earnings Call Date:Feb 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Aug 25, 2026
Earnings Call Sentiment Positive
The call conveyed predominantly positive operational momentum: strong Holidays performance, stable development margins, improving execution, an expanding pipeline (440 contracts on hand, +23% PCP) and sufficient balance-sheet capacity to fund growth. These positives were tempered by first-half settlement skew, short-term negative development cash profit in H1, rising input and statutory costs (council rates, utilities, OTA/marketing), and modest margin pressure in some segments. Management expects cash generation and improved margins in H2 and remains confident in meeting the 5-year settlements CAGR target.Positive Updates
On-track for 5-year plan and settlements CAGR target
Management confirms the business remains on track to deliver the 5-year plan, targeting a 10%–15% compound annual growth rate in settlements and expects the full year result to be at the top end of guidance.
Negative Updates
First-half settlements skew and lower H1 development cash profit
New home settlements were lower in H1 due to a return to the traditional second-half skew; development cash profit was negative in H1 (management cited roughly negative ~$10k–$11k per home compared with earlier negative ~$25k), expecting positive cash generation in H2.
Read all updates
Q2-2026 Updates
Positive
Negative
On-track for 5-year plan and settlements CAGR target
Management confirms the business remains on track to deliver the 5-year plan, targeting a 10%–15% compound annual growth rate in settlements and expects the full year result to be at the top end of guidance.
Read all positive updates
Company Guidance
Management reiterated guidance to deliver at the top end of FY‑26 expectations and stay on track for the 5‑year settlements CAGR target of 10–15%; key metrics cited include H1 settlements of 248 (29% from the JV), 254 homes completed in H1 (+17% PCP), 301 homes settled as at 20 Feb and 440 deposits/contracts on hand (+23% PCP), with development gross margins around 46% (JV ~53%) and the JV generating net cash >$100k per lot and operating profit up 56% to $12m; group financials included EBIT $85m (‑1%), underlying profit $62m, EPS $0.152, statutory profit $97m (+11%), NTA $4.10 and an interim distribution of $0.048/security; balance sheet and funding metrics were gearing 31%, ~A$200m headroom, A$100m new facilities, weighted average debt maturity 3.3 years, 55% of drawn debt hedged and weighted average cost of debt 5.03% (expected to rise); operationally Holidays revenue was +12% LFL (Holidays EBIT $31.5m, +10%), Lifestyle Rental EBIT $25.7m (+6%), all‑age rental occupancy 99% and a target >14% yield on new homes, and management expects development to move into positive cash generation in H2.Ingenia Communities Group Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
75
Positive
Cash Flow
80
Positive
| 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
Negative
4.49
Price Trends
4.43
Negative
4.79
Negative
5.12
Negative
Market Momentum
-0.17
Positive
33.63
Neutral
31.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:INA, the sentiment is Negative. The current price of 4.49 is above the 20-day moving average (MA) of 4.12, above the 50-day MA of 4.43, and below the 200-day MA of 5.12, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 33.63 is Neutral, neither overbought nor oversold. The STOCH value of 31.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:INA.
Ingenia Communities Group Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$1.04B | 9.15 | 10.99% | 1.83% | 17.91% | 6.19% | |
70 Outperform | AU$1.57B | 5.41 | 8.46% | 1.81% | 6.96% | 815.99% | |
70 Outperform | AU$1.83B | 7.50 | 5.63% | 4.85% | 4.39% | 176.52% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
57 Neutral | AU$936.47M | 24.03 | -0.16% | 3.17% | 206.14% | 101.96% | |
48 Neutral | AU$577.42M | 9.71 | -31.66% | ― | -38.91% | -453.73% | |
45 Neutral | AU$123.92M | -0.81 | -18.52% | 2.62% | -35.85% | 35.27% |
* Real Estate Sector Average
AU:INA
Ingenia Communities Group
3.86
-1.54
-28.54%
AU:APZ
Aspen Group Limited
4.58
1.94
73.48%
AU:URF
US Masters Residential Property Fund
0.18
-0.02
-9.09%
AU:CIP
Centuria Industrial REIT
2.93
0.14
5.02%
AU:LIC
Lifestyle Communities Ltd
4.75
-3.43
-41.93%
AU:HMC
Home Consortium Ltd
2.27
-4.09
-64.33%
Ingenia Communities Group Corporate Events
Macquarie Exits Substantial Holder Position in Ingenia Communities
Mar 18, 2026
Macquarie Group Limited has lodged a notice that it has ceased to be a substantial holder in Ingenia Communities Group, ending its previous status as a major investor in the company’s voting securities. The filing records changes in relevant...
Ingenia Uses 1H26 Update to Highlight Community and Cultural Focus
Feb 24, 2026
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...
Ingenia Holds FY26 Guidance at Top of Range as Second-Half Development Surge Looms
Feb 24, 2026
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 s...
Ingenia Communities Sets March 2026 Payout on Stapled Securities
Feb 23, 2026
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...
Ingenia lifts profit and asset values as underlying earnings ease
Feb 23, 2026
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 fel...
First Sentier Investors Exits Substantial Holding in Ingenia Communities
Feb 10, 2026
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, deta...
Ingenia Communities Cancels 35,784 Performance Rights in Capital Restructure Update
Jan 7, 2026
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...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.