ASX 100 Annual Report Study 2025
What 100 annual reports get right, and what they still leave out
We read all 100 ASX 100 annual reports for FY2025 and assessed each one against our Communication Effectiveness Framework: 29 criteria across six categories.
The study shows what the market gets right and where the headroom sits.
- Key findings across the six categories
- Sector comparison table
- How to make the case for change
What's inside
The research
How we score an annual report against our Communication Effectiveness Framework.
The findings
Results by category, six key findings, who communicated well in 2025 and a sector comparison table showing where your peers sit.
What this means for your report
How to make the case for change to your leadership and internal teams, with the numbers to open the conversation.
Who it's for
Anyone who has to plan, write or sign off an annual report. Usually to a fixed date, and usually with more content than time.
- Heads of corporate affairs and communications
- Investor relations and company secretariat teams
- Annual report managers and project leads
- Sustainability and finance reporting teams
ASX 100 Leadership Voice Study 2025
A closer read of one page. We assessed 149 Chair and CEO messages for voice, transparency, readability and tone.
How we help
If the study raised questions about your own report, these are the places to start.
Report review
An independent, scored assessment of your report against our six category framework, benchmarked against your peers.
Read more →Report writing and production
An experienced external writer, editor and proofreader to take the pressure off your team.
Read more →Report SOPs
Your production process documented so it does not live in one person's memory: roles, workflows, checklists and sign off protocols.
Read more →