CLEANAWAY WASTE MANAGEMENT LIMITED (CWY)
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CWY

CWY - CLEANAWAY WASTE MANAGEMENT LIMITED

FNArena Sector : Industrial Sector Contractors & Engineers
Year End: June
GICS Industry Group : Commercial & Professional Services
Debt/EBITDA: 2.34
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Cleanaway Waste Management is an Australian waste management company providing collection, disposal and recycling services to businesses ranging from small to multinational organisations. It listed in 2005 and the current name was adopted in 2015.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.41

03 Feb
2026

-0.050

OPEN

$2.48

-2.03%

HIGH

$2.48

11,143,834

LOW

$2.38

TARGET
$3.184 32.1% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
CWY: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 7.0 10.4 xxx
DPS (cps) xxx 6.0 7.0 xxx
EPS Growth xxx 0.0% 48.3% xxx
DPS Growth xxx 20.0% 16.2% xxx
PE Ratio xxx N/A 23.1 xxx
Dividend Yield xxx N/A 2.9% xxx
Div Pay Ratio(%) xxx 85.3% 66.9% xxx

Dividend yield today if purchased 3 years ago: 2.17%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.49

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 12/09 - ex-div 3.2c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx7.0
DPS All xxxxxxxxxxxxxxx6.0
Sales/Revenue xxxxxxxxxxxxxxx3,788.9 M
Book Value Per Share xxxxxxxxxxxxxxx136.3
Net Operating Cash Flow xxxxxxxxxxxxxxx459.3 M
Net Profit Margin xxxxxxxxxxxxxxx4.14 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx5.20 %
Return on Invested Capital xxxxxxxxxxxxxxx3.39 %
Return on Assets xxxxxxxxxxxxxxx2.42 %
Return on Equity xxxxxxxxxxxxxxx5.20 %
Return on Total Capital xxxxxxxxxxxxxxx7.76 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx49.6 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx215 M
Long Term Debt xxxxxxxxxxxxxxx1,590 M
Total Debt xxxxxxxxxxxxxxx1,805 M
Goodwill - Gross xxxxxxxxxxxxxxx2,442 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx87 M
Price To Book Value xxxxxxxxxxxxxxx2.00

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx335.1 M
Capex % of Sales xxxxxxxxxxxxxxx8.84 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,270 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx147 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx91 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.9

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

22/10/2025

1

Outperform

$3.45

43.15%

Cleanaway Waste Management's AGM trading update reiterated prior FY26 guidance, but pointed to a greater second half dependency than in recent years, Macquarie notes.

Macquarie expected a second half skew, but soft market conditions, New Chum challenges, synergy realisation and cost run-off in the second half drive more of a skew than assumed.

The Cleanaway thesis remains attractive, the broker believes, underpinned by a solid earnings growth outlook, attractive valuation comparisons to US peers, and a broadly supportive macro and regulatory backdrop.

Macquarie looks forward to tidier execution. Outperform retained, target falls to $3.45 from $3.50.

FORECAST
Macquarie forecasts a full year FY26 dividend of 6.90 cents and EPS of 11.80 cents.
Macquarie forecasts a full year FY27 dividend of 8.50 cents and EPS of 14.30 cents.

Bell Potter

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

21/01/2026

2

Overweight

$3.00

24.48%

Cleanaway Waste Management is expected to report steady earnings, supported by pricing outcomes and improved cost recovery, despite softer volumes across construction-exposed waste streams, according to Jarden.

The broker notes margin resilience is being driven by disciplined pricing, contract repricing and easing labour and fuel cost pressures, which are offsetting volume weakness in C&D and industrial waste.

FY26 guidance is anticipated to be maintained, with investors focused on free cash flow conversion and balance sheet discipline following recent capex and acquisition activities.

No changes to EPS forecasts. Overweight rating and $3 target are retained.

FORECAST
Jarden forecasts a full year FY26 dividend of 7.30 cents and EPS of 10.80 cents.
Jarden forecasts a full year FY27 dividend of 8.50 cents and EPS of 12.50 cents.
Access Extra Coverage Research History >

CWY STOCK CHART

FNArena News on CWY

Latest Industrial Sector Contractors & Engineers News

1
New Growth Pathway for Cleanaway Waste Management

Mar 14 2022 - Australia
2
Better Times Ahead For Contractors

Sep 10 2021 - Australia
3
ALS Gathers Pace As Commodities Surge

May 27 2021 - Australia
4
Cash For Trash In Listed Waste Management

Apr 23 2021 - Weekly Reports
5
Lift In Exploration Augurs Well For ALS

Mar 11 2021 - Australia
6
Service Stream: Margin Pressure Versus NBN Upside

Mar 03 2021 - Australia
7
ALS To Benefit As Mineral Exploration Heats Up

Nov 19 2020 - Australia
8
Budget Puts Downer EDI In The Front Seat

Oct 08 2020 - Australia
9
ESG Focus: Of Waste And Resources

Sep 09 2020 - ESG Focus
10
ESG focus: Australia Gets Serious About Recycling

Jul 21 2020 - ESG Focus