The Macquarie Group Ltd (ASX: MQG) share price is under the spotlight after revealing strong growth in its FY26 result.
Macquarie is a major financial institution with multiple divisions and global operations. Its activities include asset management, investment banking, and regular banking in Australia.
Macquarie FY26 result
Here are some of the main highlights from Macquarie’s FY26 report for the 12 months to 31 March 2026:
- FY26 second half net profit up 93% to $3.2 billion
- FY26 net profit increased 30% to $4.8 billion
- Earnings per share (EPS) increased 30% to $12.77
- Final dividend per share of $4.20, up 7.7%
- Full-year dividend per share of $7.00, up 7.7%
There were multiple drivers of the result, so let’s take a look at what helped the company deliver those overall numbers.
Strong performance across each division
Macquarie said that each of its businesses used its specialist expertise to navigate the current environment, identifying opportunities that support long-term growth. The company is very global these days – 68% of its total income was international.
Operating leverage was also demonstrated across the business, while operating income increased 13% year on year to $19.5 billion, operating expenses only went up 5% to $12.75 billion.
Macquarie Asset Management (MAM) net profit increased by 27% to $2.6 billion, primarily driven by higher performance fees.
Banking and financial services (BFS) net profit increased 17% to $1.6 billion, primarily driven by the loan portfolio and BFS deposits. This was partially offset by lower margins amid competition, as well as higher technology expenses to support business growth.
The commodities and global markets (CGM) division saw net profit growth of 49% to $4.2 billion. It benefited from the gain on sale of the OnStream meters platform, while commodities benefited from increased risk management income from client hedging activity across its global gas and power and global oil businesses.
Macquarie Capital’s net profit increased 43% to $1.5 billion, with higher income from equity investments, acquisition fees, brokerage and the private credit portfolio.
Outlook for the Macquarie share price
The company is a powerful performer in the ASX financial share sector, I think it’s capable of delivering much more growth than other ASX bank shares over the long-term because of its multi-division, global approach.
It doesn’t look cheap at an all-time high, though the profit growth has gone some distance to justify a higher valuation.
It really depends on whether profit growth can be sustained or whether this is as good as it gets. This is the financial share I’d buy out of all of the options on the ASX, though there are other ASX dividend shares that could be better value.
