Company DescriptionScentre Group (ASX Code: SCG) is the owner and operator of Westfield in Australia and New Zealand with interests in 42 Westfield Living Centres, encompassing approximately 12,000 outlets.

How the Company Makes Money

Scentre Group Financial Statement Overview

Summary

Scentre Group's financial performance showcases solid revenue growth and improved profitability, particularly in net income. The balance sheet is stable with moderate leverage, while cash flow generation remains steady. However, the absence of EBIT in the latest period and limited cash flow growth are areas to monitor. Overall, the company is financially sound but should focus on enhancing operational efficiency and cash flow growth.

Income Statement

Positive

Scentre Group has demonstrated strong revenue growth, with a 5% increase from the previous year. The gross profit margin remains robust at approximately 69.8%, indicating efficient cost management. However, the absence of EBIT for the latest period is concerning, impacting profitability metrics. Despite this, net income has substantially increased, improving the net profit margin to 39.8% compared to the prior year's 7%.

Balance Sheet

Positive

The company's debt-to-equity ratio is around 0.92, which is reasonable but suggests moderate leverage. Return on Equity (ROE) is strong at 5.77%, reflecting effective profit generation from equity. The equity ratio stands at 50%, indicating a balanced capital structure. Overall, the balance sheet shows stability but with room for debt reduction.

Cash Flow

Neutral

Free cash flow growth is marginal at 5.66%, suggesting limited improvement. The operating cash flow to net income ratio is unavailable, which poses a challenge in assessing cash efficiency. However, the company maintains healthy free cash flow relative to net income, indicating good cash generation capabilities. Overall, cash flows are stable but lack significant growth momentum.

Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
Income Statement		Total Revenue
2.64B	2.51B	2.46B	2.28B	2.16B
	Gross Profit
1.84B	1.76B	1.64B	1.59B	1.58B
	EBIT
1.73B	1.60B	1.55B	1.50B	1.50B
	EBITDA
1.93B	1.60B	1.75B	1.52B	-2.82B
	Net Income Common Stockholders
1.05B	174.90M	300.60M	887.90M	-3.73B
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
380.60M	296.40M	679.00M	978.70M	2.60B
	Total Assets
36.35B	35.67B	37.01B	36.64B	38.06B
	Total Debt
16.77B	15.71B	15.87B	15.47B	16.42B
	Net Debt
16.39B	15.41B	15.20B	14.49B	16.04B
	Total Liabilities
18.17B	17.65B	18.29B	17.46B	19.07B
	Stockholders Equity
18.19B	17.84B	18.53B	19.00B	18.83B
Cash Flow		Free Cash Flow
659.40M	624.10M	1.09B	844.40M	645.50M
	Operating Cash Flow
1.04B	1.03B	1.12B	868.20M	666.90M
	Investing Cash Flow
-460.00M	-438.90M	-481.30M	-323.00M	-338.90M
	Financing Cash Flow
-526.20M	-1.01B	-941.30M	-2.16B	2.02B

Scentre Group Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STGPF		$12.57B	18.10	5.94%	4.70%	―	―
Sector *	61 Neutral	$2.83B	10.98	0.41%	8438.90%	5.81%	-21.06%
CNRAF		$7.31B	10.95	7.73%	6.04%	―	―
GPTGF		$6.08B	―	-1.94%	4.97%	―	―
MRVGF		$5.91B	―	-6.29%	5.14%	―	―
STKAF		$8.54B	27.80	4.54%	4.72%	―	―
URW	67 Neutral	AU$20.62B	83.82	0.93%	1.99%	7.18%	―

* Real Estate Sector Average

Performance Comparison

STGPF

Scentre Group

2.42

0.48

24.74%

CNRAF

Vicinity Centres

1.50

0.33

28.21%

GPTGF

GPT Group

2.98

0.45

17.79%

MRVGF

Mirvac Group

1.38

0.20

16.95%

STKAF

Stockland

3.44

0.74

27.41%

AU:URW

Unibail-Rodamco-Westfield SE Stapled Security Chess Depository Interests Repr 0.05 Sh

7.24

0.87

13.66%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

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