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Australian owner-operator of land-lease lifestyle communities and holiday parks for over-50s and tourists.
Australian owner-operator of land-lease lifestyle communities and holiday parks for over-50s and tourists.
In its communities residents own their homes but rent the land beneath them, paying ongoing site fees, while Ingenia earns a development margin each time it sells a new home. Holiday parks add nightly tourist stays, which swing with the season.
In one line: A manufactured-housing/holiday-park operator like ELS.
Moat: narrow (scale, installed base). Established land-lease community and holiday park portfolio gives scale over smaller regional operators.
Headquarters: Sydney, Australia · Founded: 1970
Size Ingenia Communities (INA.AX) is an Australia Real Estate company (Real Estate Investment Trusts) with a market value of $1.48B, the 142nd largest of 316 Australia companies the cockpit tracks. Shares closed at A$5.24 on 6 Nov 2026.
Performance Over six months the shares gained 35.8%, against -5.5% for the median peer and +4.1% for the Australia market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue grew 8.1% over the last twelve months (peer median +3.3%); the operating margin is 29.4% (peer median 52.3%).
Valuation It trades at 1.22× book value against a peer median of 0.95× (7th most expensive of 21).
Price implies The share price implies a return on equity of about 12.4%; Ingenia Communities delivers 11.2%, so the price asks more than the business earns today.
Next results Next results expected around 22 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$560M | A$560M | A$518M | A$484M | A$396M |
| Revenue growth | — | +8% | +7% | +22% | — |
| Gross profit | A$340M | A$340M | A$315M | A$301M | A$254M |
| EBITDA | A$170M | A$170M | A$135M | A$133M | A$109M |
| Net income | A$186M | A$186M | A$128M | A$14.0M | A$64.4M |
| Free cash flow | A$148M | A$148M | A$141M | A$77.6M | A$78.1M |
| Capital expenditure | A$4.58M | A$4.58M | A$4.99M | A$4.62M | A$4.41M |
| Total debt | n/a | A$1.01B | A$879M | A$754M | A$662M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Ingenia Communities INA.AX | $1.48B | +36% | +8% | 11% | 1.22× | 12.4% |
| Gemlife Communities GLF.AX | $1.05B | -9% | +8% | 5% | 1.43× | 18.0% |
| Lifestyle Communities LIC.AX | $364M | -12% | +39% | 7% | 0.77× | 9.6% |
| Stockland SGP.AX | $7.74B | +15% | +15% | 10% | 1.04× | 11.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | INA.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.0% | +0.1% | 3rd highest of 21 |
| 6-month return | +35.8% | -5.5% | highest of 20 |
| Return on equity | 11.2% | 5.8% | 4th highest of 19 |
| Price / book | 1.22× | 0.95× | 7th most expensive of 21 |
| Trailing P/E | 11.5× | 17.8× | 4th cheapest of 16 |
| ROE the price implies | 12.4% | 6.6% | 2nd most demanding of 21 |
| ROE delivered | 11.2% | 6.2% | 4th highest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Ingenia Communities INA.AX | Australia | $1.48B | +36% | +8% | 11% | 1.22× | 12.4% | 11.2% |
| MORI TRUST REIT.Inc 8961.T | Japan | $1.48B | -13% | -14% | 6% | 1.00× | 5.2% | 5.6% |
| CBL & Associates Properties CBL | United States | $1.46B | 0% | +9% | 61% | 3.43× | 33.7% | 60.6% |
| OUE Real Estate Investment Trust TS0U.SI | Singapore | $1.50B | -5% | +7% | 1% | 0.62× | 4.4% | 1.1% |
| Empire State Realty OP LP Series ES ESBA | United States | $1.46B | -6% | +2% | 5% | 0.84× | 10.8% | n/a |
| Ellington Financial EFC | United States | $1.45B | -17% | +30% | 12% | 0.82× | 8.6% | 12.3% |
| Killam Apartment REIT KMP-UN.TO | Canada | $1.51B | -3% | +5% | 0% | 0.68× | 6.6% | 0.3% |
| Innovative Industrial Properties IIPR | United States | $1.51B | -4% | -4% | 7% | 0.89× | 10.8% | 7.4% |
| Centurion Accommodation REIT 8C8U.SI | Singapore | $1.45B | -3% | -69% | 1% | 1.22× | 6.0% | n/a |
| LaSalle LOGIPORT REIT 3466.T | Japan | $1.45B | -10% | +71% | 6% | 1.19× | 4.8% | 6.2% |
| Emperador Properties SOCIMI YEPSA.MC | Spain | $1.44B | +14% | +7% | -2% | 2.84× | 10.5% | n/a |
| Japan Logistics Fund 8967.T | Japan | $1.52B | -8% | +3% | 9% | 1.70× | 6.6% | 9.4% |
| Lendlease Global Commercial REIT JYEU.SI | Singapore | $1.44B | -3% | +4% | 5% | 0.78× | 4.4% | 5.1% |
| Supermarket Income REIT SUPR.L | United Kingdom | $1.54B | +4% | -7% | 8% | 0.94× | 9.1% | 7.8% |
| CNAMC China Resources Commercial Asset Closed Infrastructure Real Estate Investment Trust 180601.SZ | China | $1.41B | -6% | n/a | n/a | 1.51× | 4.4% | n/a |
| Global Net Lease GNL | United States | $1.58B | -26% | -30% | -1% | 0.96× | 9.9% | -1.0% |
| Charter Hall Retail REIT CQR.AX | Australia | $1.59B | +6% | +31% | 14% | 0.78× | 8.7% | 13.9% |
| Mori Hills Reit Investment 3234.T | Japan | $1.36B | -14% | -1% | 6% | 1.07× | 4.5% | 5.9% |
| AEON REIT Investment 3292.T | Japan | $1.36B | -19% | +1% | 5% | 0.89× | 4.1% | 5.3% |
| Comforia Residential REIT 3282.T | Japan | $1.36B | -20% | +17% | 6% | 1.27× | 5.1% | 6.3% |
| Blackstone Digital Infrastructure Trust BXDC | United States | $1.61B | n/a | n/a | n/a | 0.83× | 7.3% | n/a |