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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
HMC Capital
HMC Capital (HMC) investor relations material
HMC Capital H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2026 earnings summary26 Aug, 2026
Executive summary
FY26 results met guidance, with operating EPS of 40.4c (pre-tax) and strong recurring funds management revenue, supported by disciplined execution and a strategic focus on Real Estate, Digital Infrastructure, Private Credit, and Energy.
Significant progress made in simplifying and scaling the business, including winding up HMC Capital Partners and scaling back U.S. digital operations, releasing AUD 150 million of capital.
Balance sheet materially strengthened, restoring investment capacity and providing AUD 1.9 billion in liquidity and investment capacity.
Entering FY27 with strong fundraising momentum, significant dry powder, and multiple growth pathways across all verticals.
Financial highlights
Operating EPS for FY26 was AUD 0.404 (pre-tax), in line with guidance; underlying EPS (pre-tax) was 30.2c.
Fee-generating AUM rose to AUD 16.9 billion, up 15% year-over-year, driven by institutional capital partnerships.
Recurring funds management revenue increased 22% to AUD 165.5 million year-over-year.
Management fee revenue grew 23% to AUD 159.3 million; transaction and performance revenue fell to AUD 41.2 million due to fewer large transactions.
Final dividend of AUD 0.12 per share declared for FY26.
Outlook and guidance
FY27 underlying earnings guidance of at least AUD 0.35 per share, representing 16% year-over-year growth.
Dividend guidance for FY27 is AUD 0.15 per share, up 25% from FY26.
Over 30% growth expected in recurring funds management revenue and ~35% higher distributions from co-investments.
100% cash conversion expected for underlying earnings in FY27 as non-cash fee arrangements cease.
Guidance excludes upside from capital recycling, large transactions, and one-off gains.
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Latest events from HMC Capital
- Scaling high ROE platforms and reaffirming strong FY26 earnings guidance amid strategic simplification.HMC
Investor presentation - Recurring earnings and AUM growth drive robust outlook, underpinned by KKR partnership.HMCH1 2026
- Strong financial growth, strategic expansion, and robust governance marked the AGM.HMCAGM 2025 Presentation
- Record FY25 earnings and AUM growth; FY26 targets strong recurring earnings and stable dividends.HMCH2 2025
- $1.937bn acquisition seeds a global digital infrastructure platform with major growth plans.HMCM&A Announcement
- Operating EPS up 40% and AUM up 30%, with strong growth platforms and FY25 outlook.HMCH2 2024
- Aiming for $50bn+ AUM, HMC Capital leverages diversified growth and disciplined capital management.HMCCompany Presentation
- HMC Capital accelerates growth in alternatives, targeting $50bn+ AUM via diversified platforms.HMCInvestor Day 2025 Presentation
- Record earnings and AUM growth driven by digital infrastructure and major acquisitions.HMCH1 2025
Next HMC Capital earnings date
H1 202722 Feb, 2027
HMC Capital
Next HMC Capital earnings date
H1 202722 Feb, 2027
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Frequently asked questions
HMC Capital Limited, formerly known as Home Consortium Limited, is an Australian-based company that specializes in funds management through the ownership and management of real asset-focused funds. The company serves a diverse clientele, including individuals, large institutions, and super funds, by investing in scalable and high conviction real asset strategies. With a portfolio that spans across real estate and private equity, HMC Capital manages assets on behalf of its clients, aiming to deliver value through strategic asset selection and management. The company is headquartered in Sydney, New South Wales, and its shares are listed on the Australian Securities Exchange.