Media Release: COG delivers record $9bn in finance volume as brokers show resilience in FY26
COG Financial Services Limited (ASX:COG), Australia’s largest asset finance broker and aggregator, has delivered $9 billion in Net Assets Financed (NAF) in FY26 – up 8% on the previous year – as brokers demonstrated resilience and diversified their businesses despite uncertain market conditions.
Of the $9 billion financed across the Group, $8.5 billion was generated through Broking & Aggregation (up 5%), underpinned by continued demand for commercial equipment in construction and infrastructure and strong growth in broader commercial lending.
Key highlights for FY26 include:
- $9.0 billion in NAF, up 8% on PCP
- $8.5 billion in NAF through Broking & Aggregation, up 5%
- 5.86% increase in broker network numbers
- 8,253 lender accreditations actioned across COG
- 64-lender panel expansion
- $0.5 billion in NAF through Salary Packaging, up 62%
- 66% growth in novated lease settlements
- Group revenue of $399.8m, up 9%
- Underlying EBITDA to shareholders of $51.5m, up 28%
Resilience amid uncertainty
Mark Rayson, Head of COG Aggregation, says the results reflect the resilience of brokers through a year marked by economic and geopolitical uncertainty.
“There was a lot for businesses and consumers to contend with during the year, and we saw that reflected in confidence and activity,” Rayson says. “The market softened through April and May before bouncing back strongly in June. What remained constant was the underlying need for finance. Businesses still need to replace vehicles, machinery and equipment. They can defer that investment for a period, but ultimately they need those assets to operate and grow.”
“Construction and transport remain core pillars for us, but the asset mix is expanding dramatically,” Rayson says. “That’s precisely where specialist capability and a broad lending panel prove their value.”
Diversification gathers pace
Growth in broker numbers and settlement activity points to ongoing confidence in the channel, while diversification beyond traditional asset finance is creating new revenue opportunities.
Damian Mantini, Head of Strategic Partnerships at Platform Finance, says brokers are rapidly broadening the finance solutions they offer clients, with cash flow and secured lending volumes surging 190% during FY26.
“Brokers are having broader conversations with their customers and looking beyond traditional asset finance,” Mantini says. “They’re expanding their service range, giving them more ways to solve client problems and build long-term relationships.”
COG’s lending panel also expanded during FY26, with 10 new lenders added, taking the panel to 64 and giving brokers access to a broader range of funding options.
“While the major banks remain a vital part of the market, brokers are increasingly using non-bank and specialist lenders to find tailored solutions,” Mantini says. “Having that breadth gives brokers real flexibility when a client or transaction falls outside standard bank criteria.”
From infrastructure to supercars
The variety of deals funded in FY26 highlights the increasingly complex and diverse financing needs of COG brokers’ clients. They included a $12.5 million facility restructure for a civil construction firm, $2.5 million in finance for medical imaging equipment and more than $340,000 across three robotic agricultural equipment deals. The mix also extended to an $870,000 2026 Aston Martin Vanquish and a complex $1.5 million Lamborghini Revuelto transaction for a high-net-worth client.
“Construction and transport remain core pillars for us, but the asset mix is expanding dramatically,” Rayson says. “That’s precisely where specialist capability and a broad lending panel prove their value.”
Macroeconomic pressures and changing preferences are also reshaping vehicle finance, with growing demand for hybrid and electric vehicles and increased interest in salary packaging. COG CarSelect, COG’s car buying and procurement service, recorded a 15% increase in vehicle settlements during FY26 as customers increasingly sought greater choice and value in their vehicle purchases.
“Running costs are front of mind for borrowers, which is accelerating interest in low-emission vehicles,” Rayson says. “Salary packaging is also helping drive demand, particularly for eligible EVs where the FBT exemption can make novated leasing more attractive. Combined with broader model availability and more competitive price points, we’re seeing a distinct shift in the vehicle mix.”
To support this growth, COG continues to invest in its proprietary COG Connect platform and broader technology capabilities, including targeted AI integration. “We’re taking a practical, deliberate approach to AI,” Mantini says. “It’s about removing friction and speeding up deal execution across the broker, lender and client chain.”
Rayson adds that aggregation support remains critical as more brokers broaden their businesses and expand the range of finance solutions they offer clients. “Our focus is on removing growth bottlenecks by giving brokers greater lender choice, specialised processing support and the technology they need to grow,” he says.
