2026 half-year result

Interim report

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Macquarie1 is a global diversified financial group with offices in 31 markets.

Financial highlights

1H26 net profit

$A 1655 m

3% on 1H25


1H26 operating expenses

$A 6239 m

5% on 1H25
1H26 net operating income

$A 8691 m

6% on 1H25


1H26 earnings per share

$A 4.37

3% on 1H25

1H26 return on equity

9.6 %

3% on 1H25


1H26 effective tax rate

31.8 %

from 29.9% at 1H25
1H26 dividend per share (35% franked)

$A 2.80

from $A2.60 (35% franked) in 1H25


Assets under management as at 30 September 2025

$A 959.1 b

2% from $A941.0b as at 31 March 2025

1. Includes MAM and BFS AUM. 31 Mar 20 AUM has been restated to reflect an immaterial misstatement in total MAM AUM reported on 8 May 20.


1H26 Diversity of income2

Annuity-style

Markets-facing


1H26 Net Operating Income by geography3

globe-americas
Americas

31 %

globe-emea
EMEA

22 %

globe-asia
Asia

11 %

globe-anz
ANZ

36 %

Operating and Financial Review

Operating Groups

Macquarie is a diversified financial services group providing clients with asset management and finance, banking, advisory, and risk and capital solutions across debt, equity and commodities.

Macquarie Asset Management (MAM)

A leading specialist global asset manager, investing to deliver positive impact for our clients, portfolio companies and communities. Provides a diverse range of investment solutions to clients including real assets, real estate, credit, equities & multi-asset, insurance solutions and secondaries.

Net profit contribution4

$A 1175 m

43% on 1H25

Creating a leading data centre company

MAM agreed to the sale of leading hyperscale data centre specialist Aligned Data Centers, following seven years of investment that helped the company grow from two operational and planned data centres across the Americas to 50.

Driving India’s EV transition

MAM successfully raised $US405 million for Vertelo, the platform established by Macquarie and anchored by the Green Climate Fund to help accelerate India’s transition to electric vehicles.

Raising capital to invest in critical infrastructure

MAM raised over $US8 billion for investment in transportation, digital infrastructure, utilities and energy, and waste infrastructure sectors in the Americas, and a further $US3 billion for investment in energy transition infrastructure beyond renewable energy across the globe.

Banking and Financial Services (BFS)

A retail banking and financial services business serving the Australian market. Provides a diverse range of personal banking, wealth management, and business banking products and services to retail clients, advisers, brokers and business clients.

Net profit contribution

$A 793 m

22% on 1H25

The fastest major Australian bank to lower home lending rates

Macquarie Bank was the fastest major Australian bank to lower its variable home loan reference rates after the Reserve Bank of Australia met in May and August, ensuring its customers could feel the benefit of lower rates sooner.

Providing customers with further protection against fraud and scams

Macquarie Bank continued to invest in the digital security of its customers, joining BioCatch Trust™ Australia – the world’s first inter-bank, behaviour and device-based, fraud and scams intelligence-sharing network. 

Simplifying banking for Australian businesses

Macquarie Bank removed monthly account keeping and electronic transaction fees from its business deposit accounts, leveraging the efficiencies of its digital banking platform to provide Australian businesses with a simpler banking experience.

Commodities and Global Markets (CGM)

A global business offering capital and financing, risk management, market access, physical execution and logistics solutions to its diverse client base, across commodities, financial markets and asset finance.

Net profit contribution

$A 1113 m

15% on 1H25

Investing in renewable asset optimisation

CGM acquired Erova Energy, a leading renewable asset optimisation company, combining its established platform with Macquarie’s longstanding power trading expertise to scale its services with renewable energy generators.

Funding AI and data centre infrastructure

CGM’s Asset Finance division has funded more than $A700 million in AI and data centre infrastructure deployment across EMEA and North America, enabling clients to develop the large-scale facilities necessary to support AI’s rapid growth.

Expanded digital trading platform for currencies and commodities

CGM has expanded the suite of products and services available on its digital trading platform, Macquarie Aurora, offering even greater access to our expertise and tools.

Macquarie Capital

Macquarie Capital has global capability in advisory and capital raising services, providing clients with specialist expertise and flexible capital solutions across a range of sectors. It also has global capability in specialist investing across private credit, private equity, real estate, growth equity, venture capital, and in infrastructure and energy projects and companies. Its equities brokerage business provides clients with access to equity research, sales, execution capabilities and corporate access with a focus on Asia-Pacific.

Net profit contribution

$A 711 m

92% on 1H25

Enabling a data centre's next growth phase

Macquarie Capital partially realised its stake in international data centre developer and operator Prime Data Centers, as part of a strategic equity investment by Snowhawk and Nuveen to support Prime in its next phase of growth.

Supporting businesses with private credit

Macquarie Capital provided a unitranche loan to Quotient, a Contract Development and Manufacturing Organisation (CDMO) and Clinical Research Organisation (CRO) that provides services to pharma and biotech customers.

Supporting Australia’s TMET companies

Macquarie Capital’s Technology, Media, Entertainment and Telecommunications team have advised on six of the seven largest completed TMET transactions in Australia over the last 12 months5, including CoStar Group’s $A3b landmark acquisition of Australian property marketplace Domain.

Central Service Groups

Our Central Service Groups provide a range of functions supporting Macquarie’s Operating Groups, ensuring they have the appropriate workplace support and systems to operate effectively and the necessary resources to meet their regulatory, compliance, financial, legal and risk management requirements.


  1. Macquarie Group Limited (MGL) and its subsidiaries, the Consolidated Entity.
  2. Reference to Macquarie’s established, diverse income streams is based on 1H26 net operating income.
  3. International income is net operating income excluding earnings on capital and other corporate items.
  4. Net profit contribution is management accounting profit before unallocated corporate items, profit share and income tax.
  5. Source: Dealogic and Refinitiv. Includes completed M&A between 1 October 2024 and 30 September 2025. Excludes minority stake transactions and investments in overseas jurisdictions by Australian domiciled funds.