Propel Funeral Partners First-Half FY2026 continues upward trends

March 27, 2026/Finance, Preneed/

When you look at the First-Half of the 2026 Fiscal Year for Propel Funeral Partners you will not notice anything “earth shattering”. From my point of view, when that is the case with an owner and operator of Death Care establishments, that is probably good news.

I’m one who looks for slow, stable, continued growth in my investments and it appears that is how Propel Funeral Partners is operating, and has operated over the past decade. Co-CEO Fraser Henderson makes this comment in a Seeking Alpha Earnings Call transcript about the company’s growth, “Propel’s estimated market share in Australia and New Zealand has grown in the last decade from circa 1% in 2015 to circa 10% in 2025″.

And, according to this year’s First-Half results which ended on December 31, 2025, the company continued that growth process by acquiring two funeral homes and a cemetery memorial business. According to the company’s latest investment presentation they now operate 208 facilities throughout Australia and New Zealand and are 2nd only to InvoCare in Death Care market share for those geographic locales.

FH2026 results indicate a 3.1% increase in revenues and a 1.2% increase in Net Profit After Taxes. In addition, the company’s Funeral Volumes are up 3.02% but I’m guessing that that includes the acquisitions that they made in FY2025. Here is the information, in table form, from their FH2026 Financial Report.

Propel Funeral Partners – First-Half 2026 Results as Compared to First-Half 2025 Results

Here is the Propel Funeral Partners website where you can find the First-Half FY2026 Report and a Power Point Presentation about their business. You will find that information under the “Our Investors” section.

Funeral Director Daily take: There are a couple of items that I found interesting, for comparison sake, in the company’s Earnings Call Report transcript which you can find here, Co-CEO Fraser Henderson mentions that the Balance Sheet shows “prepaid contract funds totaled approximately AUS$83 million (US$ 58 million), which are largely invested with third-party friendly societies who primarily invest the funds in cash and fixed interest. During the period, prepaid contracts that turned at need in Australia accounted for less than 10% of the group’s Australian funeral volumes”.

I find it very interesting when one looks at how much, in comparison to annual revenue one has in preneed. In the Propel Funeral Partners situation they mention that they have US$ 58 million on their Balance Sheet. If you double the First-Half Revenue of FY 2026 the annual revenue for the company would come in at about US$ 167 million.

So, that US$ 58 million of Preneed on the books represents about 34% or 1/3 of Propel’s expected annual revenues (US$ 167 million). Compare that with Service Corporation International (SCI) which in its latest report reported about $17 billion of Preneed with total annual revenues of a little over $4 billion — that puts the future preneed revenue of SCI at over 4 times the annual revenue of the company.

In that metric, Propel would be far behind SCI. It may have to do with the customs of people in different countries or how people save to pay for Death Care services in different countries. However, if I was the management of Propel Funeral Partners I would surely look at how I could take advantage of what, would seem to be to me, a possible secondary revenue source by greatly picking up my preneed offerings.

It’s also an interesting metric with your own funeral home. SCI has over 4 years of revenue in Preneed and feels comfortable with that. What is your funeral home’s metric in that category?

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