REA Group (REA) – Property player
August 19, 2025
REA Group is the dominant online sales platform for Australian real state and related products. REA Group was incorporated in 1995 and is headquartered in Richmond in Melbourne. The company is majority-owned by News Corp (NWS).
REA Group declared a larger final dividend for FY25 than the market had expected and implied its operations would continue to display to positive jaws, i.e. where revenue growth exceeds cost growth, into FY26 and FY27, both factors which drove strong share price performance on the release day.
FY25 operating earnings jumped 18% year-on-year (YoY) to match Ord Minnett’s expectations. Post the result, we trimmed our EPS estimates by 0.1%, 0.4% and 0.3% for FY26, FY27 and FY28, respectively. Since the result, the company has named former Carsales.com (CAR) Cameron Macintyre as CEO to replace retiring veteran CEO Owen Wilson. Our price target for REA is unchanged at $260.00 and we maintain our Hold recommendation.
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