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Scentre Group
(Sydney:SCG)
Scentre Group (SCG) vs. iShares MSCI Australia ETF (EWA)
Scentre Group Business Overview & Revenue Model
Scentre Group Earnings Call Summary
Scentre Group Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.67B | 2.69B | 2.64B | 2.51B | 2.46B | 2.28B |
| Gross Profit | 1.88B | 1.91B | 1.84B | 1.76B | 1.64B | 1.59B |
| EBITDA | 874.80M | 2.66B | 1.93B | 1.62B | 1.75B | 1.52B |
| Net Income | 1.43B | 1.78B | 1.05B | 174.90M | 300.60M | 887.90M |
Balance Sheet | ||||||
| Total Assets | 36.28B | 35.40B | 36.35B | 35.67B | 37.01B | 36.64B |
| Cash, Cash Equivalents and Short-Term Investments | 318.40M | 529.40M | 380.60M | 296.40M | 679.00M | 978.70M |
| Total Debt | 16.36B | 15.15B | 16.77B | 15.71B | 15.87B | 15.47B |
| Total Liabilities | 17.69B | 16.32B | 18.17B | 17.65B | 18.29B | 17.46B |
| Stockholders Equity | 18.41B | 18.89B | 18.19B | 17.84B | 18.53B | 19.00B |
Cash Flow | ||||||
| Free Cash Flow | 849.90M | 1.03B | 659.40M | 624.10M | 1.09B | 844.40M |
| Operating Cash Flow | 1.02B | 1.05B | 1.07B | 1.07B | 1.12B | 868.20M |
| Investing Cash Flow | -402.20M | 926.90M | -460.00M | -438.90M | -481.30M | -342.00M |
| Financing Cash Flow | -572.70M | -1.83B | -526.20M | -1.01B | -941.30M | 55.30M |
Scentre Group Technical Analysis
Scentre Group Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$12.41B | 14.02 | 7.99% | 4.29% | 4.75% | 170.39% | |
74 Outperform | AU$19.93B | 11.18 | 7.71% | 4.13% | 5.44% | 231.88% | |
71 Outperform | AU$11.27B | 8.50 | 9.03% | 4.72% | 0.29% | 83.44% | |
69 Neutral | $9.69B | 9.88 | 3.56% | 4.41% | 12.66% | ― | |
66 Neutral | AU$8.09B | 20.96 | 0.71% | 4.39% | -18.48% | ― | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
Scentre Group Corporate Events
Scentre Group has disclosed a change in director Catherine Michelle Brenner’s indirect interest in the company’s ordinary stapled securities. The change arises from the issuance of 2,453 securities to Brenner Super Pty Limited under the group’s Distribution Reinvestment Plan at a price of $3.7998 per security.
Following this reinvestment, Brenner’s total indirect holding in Scentre Group increased from 104,656 to 107,109 stapled securities. The notice confirms there were no disposals of securities, no related contract interest changes and that the transaction did not occur during a closed trading period requiring special clearance.
The most recent analyst rating on (AU:SCG) stock is a Hold with a A$4.10 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has disclosed a change in director Julie Ann Coates’s interests, with an associated entity, Good Coates Pty Limited, acquiring 56,050 ordinary stapled securities on market over two days in late February 2026. The purchase, made at prices of $3.750 and $3.819 per security, marks Coates’s first disclosed holding in the group’s stapled securities and signals increased personal financial alignment with the company’s performance for investors to note.
The most recent analyst rating on (AU:SCG) stock is a Hold with a A$4.10 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has applied for quotation on the ASX of 6,559,679 fully paid ordinary stapled securities, to be issued on 27 February 2026. The new securities are being issued under a dividend or distribution plan, modestly expanding the group’s listed equity base and providing participating securityholders with additional units in lieu of cash distributions.
The issuance, while not transformational in scale, reflects the continued use of distribution reinvestment mechanisms to support capital management and balance sheet flexibility. For existing investors, the move marginally increases the free float and could slightly dilute non-participating holders, while reinforcing Scentre Group’s access to equity funding in support of its retail property platform.
The most recent analyst rating on (AU:SCG) stock is a Hold with a A$4.10 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has released taxation notices detailing the components of the distribution for the six months to 31 December 2025 from Scentre Group Trust 1 and Scentre Group Trust 2, aimed at non-resident investors under Australia’s Tax Administration Act. The disclosure confirms the trust’s status as a withholding managed investment trust and clarifies that the distribution, set at 7.710 cents per unit and payable on 27 February 2026, includes fund payment and Australian interest income components exceeding the cash amount, with full tax details for resident investors to follow in the annual tax statement.
The distribution for the period will be treated for tax purposes primarily as a fund payment, alongside a smaller component of Australian interest income, which is relevant for calculating non-resident withholding tax obligations. The group emphasised that Australian resident securityholders should not use this notice to complete their tax returns, signalling that the announcement is principally a compliance update for tax reporting and withholding rather than an operational or strategic shift for the business.
The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has released its 2025 Property Compendium, detailing its portfolio of 42 Westfield destinations across Australia and New Zealand and highlighting individual centre profiles such as Westfield Miranda, Parramatta and Sydney. The document reinforces the group’s purpose of creating extraordinary places and experiences that are essential to their communities, underlining its strategy to attract more visitors, more often and for longer, and thereby strengthen its role as a leading owner‑operator of regional retail destinations.
The compendium’s emphasis on strategic locations, operating performance and business partner relationships signals Scentre Group’s focus on sustaining foot traffic and tenant engagement in a competitive retail environment. By formalising its ambition around community connection and time spent at its centres, the group is positioning its Westfield portfolio as diversified experiential destinations rather than traditional shopping-only complexes, which may support long-term relevance for retailers, investors and local communities.
The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group reported a 4.9% rise in Funds From Operations to $1.188 billion for 2025, with distributions up 3.4% to $923 million and statutory profit at $1.779 billion. The company delivered its fifth consecutive year of earnings and distribution growth, driven by higher customer visits, record $30 billion in tenant sales and like-for-like Net Operating Income growth of 4.8%.
Customer visits reached 540 million in 2025, up 2.7%, while occupancy climbed to 99.8%, the highest since 2013, supported by 3,090 leasing deals and rising specialty rents. Redevelopments at Westfield Southland, Burwood and Bondi boosted visitation, and a new $240 million lifestyle and dining project at Westfield Bondi was announced to further enhance asset productivity.
The group advanced its capital strategy by introducing about $2.2 billion of new capital via asset joint ventures, including a 50% sell-down of Westfield Chermside and a 19.9% stake sale in Westfield Sydney to institutional partners, while retaining management control. Scentre also refinanced subordinated and senior debt, returned to the European bond market, and ended 2025 with $5.2 billion in available liquidity and high levels of interest rate hedging, underpinning its financial resilience.
The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group reported higher full-year metrics for 2025, with revenue rising to $2,685.0 million, net operating income increasing to $2,104.1 million, and funds from operations attributable to members growing to $1,187.5 million. Profit after tax including unrealised fair value movements surged to $1,778.5 million, marking a sharp year-on-year increase.
The group declared total dividend and distribution payments of 17.72 cents per stapled security for 2025, split between interim and final distributions, with the final instalment to be paid on 27 February 2026. A distribution reinvestment plan is in place for the six months to 31 December 2025 at an issue price of $3.7998 per security without discount, supporting capital management while providing investors an option to reinvest their distributions.
The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has updated investors on the actual distribution for the six-month period ended 31 December 2025, confirming details for its fully paid ordinary stapled securities. The announcement also specifies the AUD/NZD exchange rate, the equivalent NZD distribution for holders paid in New Zealand dollars, and the price applicable under the Distribution Reinvestment Plan, providing clarity on returns to securityholders.
The update, which revises an earlier notice from 9 February 2026, relates to distributions based on a record date of 13 February 2026. By finalising these parameters, Scentre Group offers greater certainty around income, currency conversion and reinvestment terms for its predominantly retail-focused investor base across both Australian and New Zealand markets.
The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has declared a six‑month distribution of AUD 0.08905 per fully paid stapled security for the period ended 31 December 2025, with an ex‑date of 12 February, a record date of 13 February and payment scheduled for 27 February 2026. The announcement reinforces the group’s ongoing capital returns to investors and signals stable cash generation from its retail property portfolio ahead of its full‑year 2025 financial results release on 24 February 2026, a key date for assessing operating performance and distribution sustainability.
The most recent analyst rating on (AU:SCG) stock is a Hold with a A$4.20 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has brought Australian Retirement Trust in as a new joint venture partner at Westfield Sydney, with the superannuation fund acquiring a 19.9% stake for $864 million, in line with the centre’s June 2025 book value at a 4.69% capitalisation rate. Scentre will retain an 80.1% interest and continue to manage property, leasing and development, reinforcing its control over one of Australia’s flagship CBD retail assets, which attracts more than 33 million customers annually and generated $1.1 billion in sales in 2024. The deal is part of Scentre’s broader capital recycling strategy, following the recent $1.3 billion joint venture at Westfield Chermside, and lifts announced third-party capital inflows in 2025 to about $2.2 billion. After investing $3.3 billion in the Westfield Sydney precinct over time, and selling its three office towers in 2019, Scentre has now realised roughly $2.4 billion from the asset, leaving a net investment of $0.9 billion against a remaining 80.1% stake valued at $3.5 billion, effectively quadrupling its capital since acquisition and underscoring its ability to unlock value for securityholders while maintaining operational control.
The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has disclosed a change in the interests of its director, Elliott Rusanow, following the vesting of performance rights under the company’s Performance Rights Plan on 15 December 2025. Rusanow received 994,583 Scentre Group ordinary securities for nil consideration as 957,608 performance rights vested, increasing his directly held ordinary securities to 994,583 and leaving him with 3,164,812 remaining performance rights, while his indirect holding via Tellammy Pty Ltd remains at 2,016,843 ordinary securities. The transaction, a standard vesting event under the company’s long-term incentive framework, underscores the alignment of executive remuneration with shareholder interests, without involving any on-market trading or cash consideration.
The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.55 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has notified the market of the issue of 5,813,470 fully paid stapled securities, following the exercise or conversion of previously unquoted options or other unquoted convertible securities. The new stapled securities, issued on 15 December 2025, increase the company’s equity base and marginally dilute existing holders, reflecting the ongoing operation of its incentive or financing structures and underscoring continued engagement by participants in its equity-linked schemes.
The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.55 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has announced a new joint venture with a Dexus managed fund, selling a 25% interest in Westfield Chermside, Brisbane for $683 million. This transaction aligns with Scentre Group’s long-term capital management strategy, introducing approximately $1.3 billion of new capital to support its strategic objectives and sustainable growth.
The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has acknowledged a media report regarding potential transactions involving an interest in Westfield Sydney. As part of its capital management strategy, the company is in discussions with third parties about joint venture opportunities, which may or may not lead to new transactions. Any developments will be disclosed in line with continuous disclosure obligations.
The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.
Scentre Group has announced the issuance of 107,548 performance rights as part of an employee incentive scheme. These securities are unquoted and are not intended to be listed on the ASX, reflecting the company’s strategy to incentivize and retain talent, which could strengthen its operational capabilities and market position.
The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.60 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.