EUREKA GROUP HOLDINGS LIMITED (EGH)
Share Price Analysis and Chart

03/03/2026

1

Buy

$0.85

25.93%

Affordable rental accommodation provider Eureka Group has reported interim revenue of $27.0m, up 19.7% on the prior year, highlights Morgans. 

Underlying earnings (EBITDA) also rose 11.2% to $9.1m, partly aided by full earnings contributions from the -$80m of assets acquired since 2025, explains the analyst.

Underlying EPS fell -8.3% to 1.44c due to prior capital raising dilution.

Funds under management (FUM) rose 29% to $454m and the development pipeline expanded to 829 units.

FY26 guidance was reaffirmed for earnings (EBITDA) growth of 20-25% and underlying EPS growth of 7.5-10%, supported by acquisitions and rent growth, notes the broker.

Morgans reiterates its Buy rating and $0.85 target price.

FORECAST
Morgans forecasts a full year FY26 dividend of 1.50 cents and EPS of 3.40 cents.
Morgans forecasts a full year FY27 dividend of 1.70 cents and EPS of 3.80 cents.

09/03/2026

1

Buy

$0.69

2.22%

First-half underlying earnings of 1.44c for Eureka Group fell -8% on the prior year. Moelis explains this fall reflects the impact of the November 2024 equity raise, the timing of capital deployment and repositioning of newly acquired assets.

FY26 guidance was maintained at 3.37-3.44c, implying to the broker a stronger H2 as new acquisitions stabilise and contribute for a full period.

The analysts highlight like-for-like rental growth of 5.7% in the seniors rental portfolio with an earnings (EBITDA) margin of 55%, while loan-to-value rose to 33.5% following recent acquisitions.

A development pipeline of around 830 sites is noted along with ongoing acquisition opportunities supporting future growth.

Buy rating and $0.69 target reiterated.

FORECAST
Moelis forecasts a full year FY26 dividend of 1.60 cents and EPS of 3.40 cents.
Moelis forecasts a full year FY27 dividend of 1.90 cents and EPS of 4.00 cents.