PEXA Group Limited (PXA) AI Stock Analysis

• Market Cap: AU$2.44B
• Dividend Yield: N/A
• Average Volume (3M): 369.60K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.53
• Revenue Growth: 15.75%
• EPS Growth: -323.25%
• Country: AU
• Employees: 900
• Sector: Technology
• Sector Strength: 88
• Industry: Real Estate - Services
• EPS (TTM): -0.03
• Shares Outstanding: 177,601,870
• 10 Day Avg. Volume: 283,624
• 30 Day Avg. Volume: 369,598
• PEG Ratio: -0.10
• Price to Book (P/B): 2.11
• Price to Sales (P/S): 6.46
• P/FCF Ratio: 40.84
• 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$17.40
• Price Target Upside: 26.44% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: AU$13.00 ▼(-5.52% Downside)

PEXA Group Limited's overall stock score is primarily impacted by its weak financial performance and poor valuation metrics. The technical analysis indicates a bearish trend, further contributing to the low score. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Recurring transaction-fee business model

PEXA's transaction-fee model creates recurring per-settlement revenue from banks, conveyancers and solicitors. Platform-led fees, partnerships and regulatory support for e-conveyancing yield durable, scalable revenue and network effects that support long-term margins.

High gross profit margin

An 82.12% gross margin indicates low direct costs per transaction and strong unit economics for the digital platform. This operating leverage allows incremental revenue to drop to the bottom line as volumes grow, supporting sustainable profitability if fixed costs are controlled.

Conservative leverage

A debt-to-equity ratio of 0.28 implies moderate leverage and financial flexibility. This reduces refinancing pressure, preserves credit optionality for strategic investments or partnerships, and helps the company absorb property-market cyclicality without excessive balance sheet strain.

Negative Factors

Negative net profitability

A -20.40% net margin shows operating costs or write-downs are more than offsetting high gross profits. Persistent net losses constrain retained earnings, limit ability to self-fund growth and signal the need for cost structure improvements to achieve sustainable shareholder returns.

Sharp decline in free cash flow

A -48.28% drop in free cash flow growth materially reduces internal funding for capex, product development and strategic initiatives. Sustained FCF weakness can force reliance on external financing, increasing dilution or interest costs and limiting long-term strategic flexibility.

Negative return on equity

ROE of -6.66% indicates the business is not converting invested capital into positive shareholder returns. Persistent negative ROE undermines investor confidence, limits access to equity capital on favorable terms and highlights structural issues with profitability or capital allocation.

PEXA Group Limited Business Overview & Revenue Model

Company Description

PEXA Group Limited operates a digital property settlements platform in Australia. It operates through three segments: PEXA Exchange, PEXA International, and PEXA Insights. The company operates electronic lodgement network, a cloud-based platform that enables the digital lodgement and settlement for property transactions. Its PEXA lodgement and settlement services transactions include financial institutions lending funds for property purchases and refinances, practitioners representing individual buyers and sellers, and property developers. The company was formerly known as Torrens Group Holdings Limited. PEXA Group Limited was founded in 2010 and is headquartered in Melbourne, Australia.

How the Company Makes Money

PEXA generates revenue primarily through transaction fees charged for each property settlement conducted on its platform. The company earns fees from financial institutions, conveyancers, and solicitors for the electronic services provided, which include document lodgment and settlement processing. Additionally, PEXA may have partnerships with banks and real estate agencies that further enhance its service offerings and customer base. Factors contributing to its earnings include the increasing adoption of digital solutions in property transactions, regulatory support for electronic settlements, and a growing real estate market in Australia.

PEXA Group Limited Financial Statement Overview

Summary

PEXA Group Limited faces challenges with declining revenue growth and profitability, as reflected in its income statement. The balance sheet remains stable with moderate leverage, but the negative return on equity is a concern. Cash flow generation is adequate, but the significant drop in free cash flow growth could pose risks to future financial flexibility.

Income Statement

PEXA Group Limited has experienced a decline in revenue growth, with a negative growth rate of -2.00% in the most recent year. The gross profit margin remains strong at 82.12%, indicating efficient cost management. However, the company faces challenges with profitability, as evidenced by a negative net profit margin of -20.40% and a negative EBIT margin. The EBITDA margin is positive at 22.30%, suggesting some operational efficiency, but overall profitability is a concern.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio of 0.28, indicating a balanced approach to leveraging. However, the return on equity is negative at -6.66%, reflecting challenges in generating returns for shareholders. The equity ratio is not explicitly provided, but the company's total assets exceed its liabilities, suggesting a stable financial position.

Cash Flow

PEXA Group Limited's cash flow analysis reveals a significant decline in free cash flow growth at -48.28%, which could impact future investments and operations. The operating cash flow to net income ratio is above 1, indicating that the company generates sufficient cash from operations relative to its net income. However, the free cash flow to net income ratio is moderate at 0.51, suggesting limited cash available after capital expenditures.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	393.63M	373.05M	340.06M	281.69M	279.84M	221.05M
Gross Profit	272.25M	306.34M	289.78M	170.13M	177.00M	126.03M
EBITDA	59.44M	83.18M	103.94M	89.91M	106.56M	94.74M
Net Income	-76.08M	-76.08M	-18.01M	-21.84M	21.85M	-11.79M
Balance Sheet
Total Assets	1.68B	1.68B	1.78B	1.82B	1.81B	1.61B
Cash, Cash Equivalents and Short-Term Investments	70.67M	70.67M	90.46M	36.54M	75.39M	51.52M
Total Debt	324.16M	324.16M	375.08M	306.37M	307.50M	502.08M
Total Liabilities	540.95M	540.95M	553.37M	578.29M	542.19M	581.32M
Stockholders Equity	1.14B	1.14B	1.23B	1.24B	1.26B	1.03B
Cash Flow
Free Cash Flow	116.08M	58.98M	41.10M	8.62M	39.76M	86.19M
Operating Cash Flow	116.77M	116.77M	109.94M	83.23M	89.78M	109.28M
Investing Cash Flow	-63.12M	-63.12M	-117.46M	-119.46M	-80.70M	-23.35M
Financing Cash Flow	-73.50M	-73.50M	61.80M	-2.95M	15.02M	-104.83M

PEXA Group Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 13.76
• 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:PXA, the sentiment is Negative. The current price of 13.76 is above the 20-day moving average (MA) of 13.71, below the 50-day MA of 13.97, and below the 200-day MA of 14.18, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.05 is Neutral, neither overbought nor oversold. The STOCH value of 38.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:PXA.

PEXA Group Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HDN	80 Outperform	AU$2.69B	10.69	8.25%	6.09%	2.70%	205.08%
INA	72 Outperform	AU$1.93B	15.23	8.27%	1.81%	6.96%	815.99%
CIP	70 Outperform	AU$2.03B	15.46	5.38%	4.85%	4.39%	176.52%
BWP	68 Neutral	AU$2.71B	10.05	9.58%	4.87%	16.53%	36.39%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
CLW	52 Neutral	AU$2.78B	23.49	3.57%	6.14%	-9.63%	―
PXA	43 Neutral	AU$2.44B	-32.03	-6.42%	―	15.75%	-323.25%

PEXA Group Limited Corporate Events

PEXA Notes Revised Timetable for IPART Review of ELNO Service Fees

PEXA Group Limited has acknowledged the Independent Pricing and Regulatory Tribunal’s revised timetable for its review of Electronic Lodgement Network Operator service fees, signalling that the regulatory process governing pricing for key digital conveyancing infrastructure is taking longer than initially expected. While the announcement contains no new financial guidance, any changes emerging from the extended review could influence PEXA’s fee structures and revenue profile in its core Australian market, with potential implications for customers and the broader property settlement ecosystem that relies heavily on its platform.

The most recent analyst rating on (AU:PXA) stock is a Hold with a A$14.00 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA sets date for 1H26 results and investor briefing

PEXA Group Limited will release its half-year financial results for the period ended 31 December 2025 on 27 February 2026 and will host a briefing session for investors and analysts at 10:30am AEDT the same day, accessible via conference call or webcast upon registration. The scheduled update and briefing underscore PEXA’s ongoing efforts to engage capital markets closely as it consolidates its dominant position in Australia’s digital property settlement market and advances its growth strategy in the UK.

The most recent analyst rating on (AU:PXA) stock is a Buy with a A$16.09 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA Responds to Release of Submission in NSW Review of ELNO Service Fees

PEXA Group Limited has acknowledged the release by the New South Wales Independent Pricing and Regulatory Tribunal of a redacted version of its submission to the ongoing review of service fees charged by Electronic Lodgement Network Operators. The company has welcomed the opportunity to contribute to this regulatory process and signalled its intention to remain actively engaged in the review over the coming months, underscoring the importance of pricing oversight for its core digital property exchange operations and the broader electronic conveyancing market.

The most recent analyst rating on (AU:PXA) stock is a Buy with a A$16.09 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA Group Limited Issues New Securities

PEXA Group Limited has announced the issuance of 60,856 ordinary fully paid securities, effective from November 19, 2025. This move involves the conversion of unquoted options or convertible securities, potentially impacting the company’s equity structure and offering insights into its strategic financial maneuvers.

The most recent analyst rating on (AU:PXA) stock is a Buy with a A$19.10 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA Group Limited Updates Director’s Interest in Securities

PEXA Group Limited has announced a change in the director’s interest, with Russell Cohen acquiring 81,592 performance rights under the company’s Equity Incentive Plan. This move reflects the company’s ongoing commitment to aligning executive interests with long-term company performance, potentially impacting the company’s operational focus and stakeholder confidence positively.

The most recent analyst rating on (AU:PXA) stock is a Buy with a A$19.10 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA Group Limited Successfully Passes All Resolutions at 2025 AGM

PEXA Group Limited announced that all resolutions proposed at its 2025 Annual General Meeting were passed by shareholders. This outcome reflects shareholder confidence in the company’s strategic direction and governance, potentially strengthening its position in the digital property exchange industry.

The most recent analyst rating on (AU:PXA) stock is a Buy with a A$17.45 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA Group Strengthens Commitment to Reconciliation and Inclusivity

PEXA Group Limited is committed to fostering reconciliation and inclusivity by acknowledging Aboriginal and Torres Strait Islander peoples as traditional custodians of the land. The company emphasizes the importance of co-designing with these communities to build meaningful relationships that offer mutual benefits and contribute to an equitable future.

The most recent analyst rating on (AU:PXA) stock is a Buy with a A$17.45 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA Group Limited’s Transformative Year and Strategic Expansion

PEXA Group Limited held its Annual General Meeting, highlighting a transformative year marked by significant management changes and service expansion in Australia and the UK. The company reached a milestone of $5 trillion in processed transactions and completed its mandated national reach in Australia. Designated as National Critical Infrastructure, PEXA emphasized its commitment to cybersecurity and regulatory compliance. The company also engaged in regulatory processes that could shape the industry’s future, including inquiries into eConveyancing competition and preparations for an ELNO pricing review.

The most recent analyst rating on (AU:PXA) stock is a Buy with a A$17.45 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA Group Limited Issues New Equity Securities

PEXA Group Limited has announced the issuance of 29,816 ordinary fully paid securities, effective as of October 31, 2025. This issuance involves the conversion or payment up of unquoted equity securities, which may impact the company’s capital structure and potentially influence its market positioning.

The most recent analyst rating on (AU:PXA) stock is a Buy with a A$17.45 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA Group Limited Issues Performance Rights to Employees

PEXA Group Limited has announced the issuance of 322,423 performance rights under an employee incentive scheme, which are currently unquoted and subject to transfer restrictions. This move is part of the company’s strategy to incentivize employees, potentially impacting its operational efficiency and market positioning positively.

The most recent analyst rating on (AU:PXA) stock is a Buy with a A$17.45 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA Group Limited Announces Director’s Share Acquisition

PEXA Group Limited announced a change in the director’s interest notice, with Director Russell Cohen acquiring 3,929 restricted shares under the FY25 Short Term Incentive Plan. This change reflects the company’s ongoing commitment to aligning executive interests with shareholder value, potentially impacting the company’s governance and stakeholder relations.

The most recent analyst rating on (AU:PXA) stock is a Buy with a A$17.45 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA Group Limited Announces Director’s Interest Change

PEXA Group Limited announced a change in the director’s interest, specifically involving Helen Elizabeth Silver. The change includes the conversion of 1,275 Share Rights to Ordinary Shares and the acquisition of 1,247 Share Rights under the Non-Executive Director Share Plan. This plan allows directors to convert part of their board fees into share rights, which upon vesting, convert to Ordinary Shares with certain restrictions. This move reflects the company’s ongoing commitment to aligning director interests with shareholder value, potentially impacting its governance and stakeholder relations.

The most recent analyst rating on (AU:PXA) stock is a Buy with a A$17.45 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.

PEXA Group Reports Strong 1Q26 Performance and Confirms FY26 Guidance

PEXA Group Limited reported a solid performance for the first quarter of FY26, with a 6% increase in property transaction volumes in Australia, driven by strong refinancing activity. In the UK, the company is preparing to launch a PEXA-enabled remortgage service with NatWest, aiming to capture growth opportunities in the market. The company’s efforts in modernizing its Australian Exchange platform and expanding its UK market presence are pivotal to its strategy, as evidenced by increased transaction volumes and market share gains.

The most recent analyst rating on (AU:PXA) stock is a Hold with a A$14.50 price target. To see the full list of analyst forecasts on PEXA Group Limited stock, see the AU:PXA Stock Forecast page.