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Australian investment bank and asset manager running infrastructure/real-asset funds, commodities and capital-markets trading, plus a retail bank.
Australian investment bank and asset manager running infrastructure/real-asset funds, commodities and capital-markets trading, plus a retail bank.
Earns in two ways: steadier fees from managing infrastructure and real-asset funds and from retail banking and leasing, and swingier income from trading in commodities, gas and power, and from advisory and investing. Most of its income comes from outside Australia.
In one line: Australia's Goldman Sachs plus a Blackstone-style infrastructure arm.
Moat: narrow (scale, brand, process know-how). Deep expertise and scale in infrastructure investing/financing built over decades.
Headquarters: Sydney, Australia · Founded: 1969 · Employees: 19,124
Size Macquarie (MQG.AX) is an Australia Financials company (Investment Banks/Brokers) with a market value of $63.5B, the 8th largest of 316 Australia companies the cockpit tracks. Shares closed at A$248.86 on 6 Nov 2026.
Performance Over six months the shares gained 5.1%, against +4.1% for the median peer and +4.1% for the Australia market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 4.8% over the last twelve months (peer median +10.5%); the operating margin is 20.0% (peer median 39.6%).
Valuation It trades at 18.1× forward earnings against a peer median of 17.4× (11th cheapest of 21).
Credit Macquarie has 28 bonds outstanding ($19.8B), rated BBB+ by the agencies and trading like BBB+ at a weighted spread of 92 bp.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | A$33.5B | A$33.6B | A$32.0B | A$29.9B | A$25.2B |
| Revenue growth | — | +5% | +7% | +19% | — |
| Net income | A$4.69B | A$4.69B | A$3.58B | A$3.38B | A$5.01B |
| Free cash flow | -A$9.28B | -A$9.28B | A$1.81B | -A$12.8B | -A$11.2B |
| Capital expenditure | A$586M | A$586M | A$1.06B | A$1.96B | A$824M |
| Total debt | n/a | A$176B | A$157B | A$148B | A$142B |
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 | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Macquarie MQG.AX | $63.5B | +5% | +5% | 20% | 18.1× | n/a |
| Goldman Sachs GS | $250B | -8% | +12% | 40% | 12.0× | n/a |
| Brookfield Asset Management BAM | $86.7B | +6% | +120% | 62% | 26.6× | n/a |
| UBS UBSG.SW | $148B | +13% | -5% | 23% | 13.2× | n/a |
| KKR & KKR | $86.6B | -6% | +32% | 23% | 11.4× | n/a |
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 | MQG.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.8% | +1.3% | 10th lowest of 21 |
| 6-month return | +5.1% | +4.1% | 10th highest of 21 |
| Distance from 52-week high | -7.1% | -13.7% | 7th highest of 21 |
| Revenue growth (TTM) | +4.8% | +10.5% | 8th lowest of 21 |
| Operating margin | 20.0% | 39.6% | 3rd lowest of 21 |
| Forward P/E | 18.1× | 17.4× | 11th cheapest of 21 |
| Bond spread | 92 bp | 63 bp | 5th widest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Macquarie MQG.AX | Australia | $63.5B | +5% | +5% | 20% | 18.1× | n/a | n/a |
| Deutsche Boerse DB1.DE | Germany | $63.8B | +32% | +7% | 41% | 24.7× | n/a | n/a |
| HKEX 0388.HK | Hong Kong | $62.2B | -10% | +23% | 75% | 24.6× | n/a | n/a |
| Deutsche Bank Aktiengesellschaft DBK.DE | Germany | $65.0B | +15% | 0% | 30% | 9.5× | n/a | n/a |
| Nasdaq NDAQ | United States | $59.4B | +21% | +12% | 31% | 23.4× | n/a | n/a |
| CITIC Securities 600030.SS | China | $56.4B | -6% | -16% | 54% | 10.2× | n/a | n/a |
| Robinhood Markets HOOD | United States | $72.9B | +5% | +22% | 44% | 29.7× | n/a | n/a |
| Barclays BARC.L | United Kingdom | $75.1B | +1% | +7% | 22% | 8.2× | n/a | n/a |
| State Street STT | United States | $45.0B | +11% | +2% | 33% | 11.1× | n/a | n/a |
| Intercontinental Exchange ICE | United States | $96.3B | +11% | +14% | 47% | 20.1× | n/a | n/a |
| BNY Mellon BNY | United States | $99.4B | +13% | -1% | 37% | 14.7× | n/a | n/a |
| Cboe Global Markets CBOE | United States | $36.9B | +2% | +14% | 36% | 23.4× | n/a | n/a |
| CME CME | United States | $109B | +9% | +9% | 66% | 23.6× | n/a | n/a |
| Coinbase COIN | United States | $35.7B | -33% | -48% | -33% | 99.3× | n/a | n/a |
| Interactive Brokers IBKR | United States | $129B | -10% | +16% | 87% | 23.9× | n/a | n/a |
| Tradeweb Markets TW | United States | $29.7B | +17% | +14% | 44% | 27.9× | n/a | n/a |
| Yuanta Financial Holding Co. Lt 2885.TW | Taiwan | $28.1B | +28% | +78% | 28% | 14.2× | n/a | n/a |
| Charles Schwab SCHW | United States | $158B | +3% | +12% | 52% | 12.2× | n/a | n/a |
| LPL Financial LPLA | United States | $23.0B | -3% | +31% | 13% | 10.5× | n/a | n/a |
| Huatai Securities 601688.SS | China | $22.7B | -7% | -6% | 38% | 8.3× | n/a | n/a |
| China International Capital 601995.SS | China | $21.6B | -18% | -20% | 55% | 10.0× | n/a | n/a |
Macquarie has 28 bonds outstanding with $19.8B face value. The agencies rate it BBB+; its bonds trade like BBB+. Weighted yield 4.49%, a spread of 92 bp over government bonds.