REA Group Ltd · Financials

Revenue has grown in most years across the reported decade, from $579.1M in FY2016 to $1,928.5M in FY2025, including a jump from $1,392.4M in FY2023 to $1,677.0M in FY2024 and then to $1,928.5M in FY2025. Gross profit margin has been uneven, starting at 79.7% in FY2016, falling to a low of 41.9% in FY2022, then rebounding to 64.3% in FY2024 and 96.5% in FY2025, the highest ratio in the series.

Operating income margin has moved in a comparatively tighter range across the years, from a high of 52.3% in FY2016 down to 38.4% in FY2022, ending FY2025 at 41.3%. Net income margin has been the most volatile line, swinging from 43.7% in FY2016 down to 7.1% in FY2017, dipping again to 11.2% in FY2019 and 12.7% in FY2020, before climbing to 35.2% in FY2025.

Diluted earnings per share have tracked this volatility closely: $1.93 in FY2016, a low of $0.36 in FY2017, a partial recovery to $1.92 in FY2018, further dips to $0.80 and $0.85 in FY2019 and FY2020, a run of $2.45 to $2.91 between FY2021 and FY2022, a step down to $2.29 in FY2024, and a high of $5.13 in FY2025.

REA Group Ltd's reported balance sheet shows total assets of $2.8B in FY2025, up from $1.5B in FY2016, an increase of roughly 90.9% over that nine-year span. Total equity grew even faster over the same period, from $715.2M to $1.9B, a rise of about 167.3%. Total liabilities were $881.3M in FY2025, equal to about 46.1% of equity, a marked improvement from FY2016, when liabilities of $767.5M actually exceeded equity of $715.2M, at roughly 107.3%.

Debt levels have fallen substantially across the reported history. Combined short-term and long-term borrowings totaled $496.3M in FY2016, about 69.4% of equity at the time, but had shrunk to just $70.7M by FY2025 - made up of $9.5M in short-term debt and $61.2M in long-term loans - equal to only about 3.7% of equity. Cash and cash equivalents ended FY2025 at $428.8M, the highest level across the reported years and up about 238.1% from $126.8M in FY2016.

Retained earnings climbed from $585.3M in FY2016 to $1.7B in FY2025, an increase of about 187.5%, reflecting a steady build-up of reported profit over the period. Taken together, rising equity, a shrinking debt load relative to equity, and a growing cash balance describe a balance sheet that has become progressively less leveraged across the company's reported financial history.

Operating cash flow has grown from $221.3M in FY2016 to $675.4M in FY2025, though not without interruption, dipping from $419.1M in FY2020 to $321.4M in FY2021 before resuming its climb. Capital expenditure has grown alongside it, from just $3.8M in FY2016 to $138.0M in FY2025, reflecting a larger base of cash spend on investment activity in the more recent years.

Free cash flow has grown from $217.5M in FY2016 to $537.4M in FY2025, with a similar dip in FY2021 to $254.5M from $345.8M the year before. Every year in the reported series has produced positive free cash flow, and FY2025's figure is the highest recorded.

Dividends paid have risen from $101.1M in FY2016 to $280.4M in FY2025, increasing in nearly every year of the series. Share buybacks have also grown, from $1.7M in FY2016 to $22.9M in FY2025, though they remain a much smaller use of cash than dividend payments in every reported year.