MAXIPARTS LIMITED (MXI)
Share Price Analysis and Chart

24/08/2026

1

Buy

$3.00

71.43%

Maxiparts reported FY26 pre-tax profit of $14.2m, up 11.8% and slightly ahead of Ord Minnett's estimate, despite softer transport-sector activity during the second half.

Revenue increased 2.7%, EBITDA rose 5.6% and margins improved by 30 basis points to 10.5%. The company finished the year with $7m in net cash, compared with net debt a year earlier.

Further growth is expected from new stores, Japanese parts, Forch Australia and market-share gains. Ord Minnett expects profitability and returns to improve over coming years.

Buy retained; target increases to $3.00 from $2.80.

FORECAST
Ord Minnett forecasts a full year FY27 dividend of 12.00 cents and EPS of 19.50 cents.
Ord Minnett forecasts a full year FY28 dividend of 13.00 cents and EPS of 21.60 cents.

24/08/2026

1

Buy

$2.56

46.29%

Canaccord Genuity maintains its Buy recommendation and $2.56 price target for MaxiPARTS following an in-line FY26 underlying net profit before tax result of $14.2m, which was pre-released in late July 2026.

The performance highlights a stronger second half despite an initial slowdown in industry conditions during March resulting from the conflict in the Middle East.

Operating cash conversion reached 118% of EBITDA, supported by a targeted inventory program that achieved a -$9m reduction in excess and slow-moving stock, enabling the company to close the period with a net cash position of $7m.

The broker's estimates remain largely unchanged, with the stock seen trading on an attractive price-to-earnings ratio of 7.7x for FY27 and 6.4x for FY28.

The analyst highlights that MaxiPARTS enters the new financial year with solid operational momentum and significant balance sheet capacity to fund future growth and capital management initiatives.