HUB24 Limited has delivered substantial earnings growth in FY26, with net profit after tax rising 42% to $121.4 million from $85.3 million in the prior year. The wealth platform operator reported total revenue of $501.1 million, an increase of 23% from $406.6 million, demonstrating continued expansion across its customer and product base. These results reflect strong momentum in the Australian wealth management sector and suggest the company is successfully executing its strategic priorities while expanding value for shareholders.
Underlying profitability metrics paint an encouraging picture of operational leverage. Underlying NPAT reached $137.3 million, while underlying EBITDA expanded to $211.4 million with a margin improvement of 230 basis points to 42.2%. The gap between statutory and underlying NPAT of approximately $16 million reflects specific items excluded from the underlying measures, which investors should consider when assessing underlying operational performance. The strong EBITDA conversion rate demonstrates that HUB24 is not just growing revenue but doing so with improving cost efficiency, a key marker of a maturing platform business.
Capital returns to shareholders have accelerated meaningfully. The full-year dividend reached 78 cents per share, up 39% from the prior year, comprising an interim dividend of 36 cents and a fully franked final dividend of 42 cents. This represents a significant jump from the prior year’s final dividend of 32 cents. Both dividends are fully franked at a 30% tax rate, providing valuable tax credits to Australian investors. The substantial dividend lift signals confidence from management and the board in the company’s cash generation and future outlook.
Net tangible assets per share increased to $1.79 from $1.23, reflecting both earnings retention and the improved balance sheet strength. This metric is important for assessing the company’s underlying asset base relative to its share price. Earnings per share reached 42 cents on a diluted basis, up from 36 cents, and the 167 cents underlying diluted EPS figure provides a clearer picture of recurring operational earnings before specific items.
During the year, HUB24 completed the liquidation of PHL Securities and deregistration of Planner Holdings and TopDocs, suggesting some portfolio tidying within the group. These moves may indicate a strategic refocus on core wealth platform operations. Investors will want to monitor whether this streamlining supports improved profitability or signals any challenges in certain business units.
Looking ahead, key areas to watch include the trajectory of funds under administration, client acquisition costs, and any commentary on competitive positioning in the evolving Australian wealth market. The company’s ability to maintain its EBITDA margin expansion whilst scaling revenue will be crucial to assessing the sustainability of current growth rates. This announcement is price sensitive and has been flagged as material to the ASX.
View the full ASX announcement (PDF)
About HUB24 Limited (ASX: HUB)
HUB24 Limited is an Australia-based provider of investment and superannuation platform services for financial advisers, stockbrokers, accountants and their clients. The company operates through its Platform segment, which offers integrated portfolio administration and investment management services, and its Tech Solutions segment, which provides cloud-based wealth accounting software and technology solutions. The company is headquartered in Sydney, Australia.
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