MACMAHON HOLDINGS LIMITED (MAH)
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MAH

MAH - MACMAHON HOLDINGS LIMITED

FNArena Sector : Mining Sector Contracting
Year End: June
GICS Industry Group : Capital Goods
Debt/EBITDA: 1.18
Index: ALL-ORDS

Macmahon Holdings is an Australian mining and construction services company. Founded in 1963, the company became a listed entity in 1983.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.575

05 Dec
2025

0.010

OPEN

$0.57

1.77%

HIGH

$0.58

1,159,954

LOW

$0.57

TARGET
$0.65 13.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . DNL . DOW . EHL . GNG . IMD . IPG . LBL . LYL . MAD . MIN . MLG . MND . MSV . MYE . NWH . ORI . PRN . RAN . RCR . RUL . SGH . SRG . SXE . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
MAH: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 3.5 5.4 xxx
DPS (cps) xxx 1.5 1.9 xxx
EPS Growth xxx 37.2% 55.6% xxx
DPS Growth xxx 42.9% 26.7% xxx
PE Ratio xxx N/A 10.6 xxx
Dividend Yield xxx N/A 3.3% xxx
Div Pay Ratio(%) xxx 43.2% 35.2% xxx

Dividend yield today if purchased 3 years ago: 9.68%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.61

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: 19/09 - ex-div 0.6c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx3.5
DPS All xxxxxxxxxxxxxxx1.5
Sales/Revenue xxxxxxxxxxxxxxx2,427.5 M
Book Value Per Share xxxxxxxxxxxxxxx32.5
Net Operating Cash Flow xxxxxxxxxxxxxxx334.0 M
Net Profit Margin xxxxxxxxxxxxxxx3.05 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx11.15 %
Return on Invested Capital xxxxxxxxxxxxxxx7.79 %
Return on Assets xxxxxxxxxxxxxxx4.60 %
Return on Equity xxxxxxxxxxxxxxx11.15 %
Return on Total Capital xxxxxxxxxxxxxxx13.38 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx130.9 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 xxxxxxxxxxxxxxx90 M
Long Term Debt xxxxxxxxxxxxxxx337 M
Total Debt xxxxxxxxxxxxxxx426 M
Goodwill - Gross xxxxxxxxxxxxxxx40 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx264 M
Price To Book Value xxxxxxxxxxxxxxx0.94

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx178.5 M
Capex % of Sales xxxxxxxxxxxxxxx7.35 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,921 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx367 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx53 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

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

25/11/2025

1

Buy

$0.65

13.04%

Bell Potter notes two Indonesian underground awards for Macmahon Holdings support management's shift toward higher-margin, lower-capital underground work. The $36m first-year Kucing Liar contract follows an August award in North Sulawesi.

The broker considers these wins partly offset revenue set to roll off when Vault Minerals ((VAU)) internalises load-and-haul at King of the Hills in 2026.

Management is guiding to adjusted earnings (EBIT)) of $180-195m in FY26.

Bell Potter raises its target price to 65c from 50c and retains a Buy rating.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 1.90 cents and EPS of 5.40 cents.
Bell Potter forecasts a full year FY27 dividend of 2.10 cents and EPS of 5.90 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

Petra Capital

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

19/08/2025

1

Buy

$0.49

-14.78%

Canaccord Genuity describes Macmahon Holdings' FY25 result as a solid set of numbers, with EBITDA beating its forecast by 3%. The broker notes underlying net profit recorded 15% growth and expects FY26 to grow over 20%.

The company guided to FY26 revenue of $2.6-2.8bn, which was higher than the broker's estimate, as was EBITA. Tender pipeline remains at $24bn, with $2.1bn already secured for FY26.

The broker reckons contract wins, earnings growth, and FCF generation are well supported by both macro backdrop and internal improvements.

FY26 EPS rises by 3% and FY27 by 10%. Buy. Target lifted to 49c from 37c.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 1.90 cents and EPS of 5.30 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 2.20 cents and EPS of 5.70 cents.
Access Extra Coverage Research History >

MAH STOCK CHART

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