Macquarie 1H27 Net Profit Up 50% to $A2,478 Million

Macquarie (ASX:MQG) released its 1H27 result, the last delivered by Shemara Wikramanayake before her retirement today, reporting net profit after tax attributable to ordinary shareholders of $A2,478 million for the half year ended 30 September 2026, up 50 per cent on 1H26 and down 22 per cent on 2H26.

Net operating income was $A9,568 million, up 10 per cent on 1H26, and operating expenses were $A6,317 million, up one per cent. Earnings per share were $A6.52, up 49 per cent, and annualised return on equity was 13.8%, compared to 14.0% in FY26. By net profit contribution, Commodities and Global Markets delivered $A2,034 million, up 83 per cent; Macquarie Asset Management $A1,509 million, up 28 per cent, primarily from the gain on sale of Macquarie AirFinance; Banking and Financial Services $A841 million, up six per cent; and Macquarie Capital $A278 million, down 61 per cent. The Bank Group Level 2 CET1 ratio was 12.9 per cent (Harmonised: 17.7 per cent) and total deposits rose 10 per cent to $A244.2 billion. The interim ordinary dividend is $A3.25 per share, 35 per cent franked, a payout ratio of 50 per cent, with DRP shares to be issued at a 1.5 per cent discount.

The release gives no earnings guidance. Incoming CEO Greg Ward describes a cautious stance and lists market conditions, transaction completions, foreign exchange and tax or regulatory changes as factors that may influence the short-term outlook. Harmonised ratios are indicative only.