MAXIPARTS LIMITED (MXI)
Share Price Analysis and Chart

21/11/2025

1

Buy

$2.95

23.43%

MaxiPARTS offered a trading update which showed conditions continue to be quite "subdued" according to Ord Minnett, notably across Sydney and Melbourne.

Management anticipates a weaker 1H26 result but has retained a positive outlook they can achieve FY26 expectations. A new branch in Kalgoorlie is trading above expectations and should boost 2H26 revenue.

The analyst has downgraded their earnings forecasts by -5% to -6% for FY26-FY28 on the weaker start to FY26.

Target slips to $2.95 from $3. No change to Buy rating.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 7.00 cents and EPS of 17.10 cents.
Ord Minnett forecasts a full year FY27 dividend of 8.00 cents and EPS of 19.70 cents.

28/08/2025

1

Buy

$2.75

15.06%

Canaccord Genuity assesses MaxiPARTS' FY25 result as strong, with EBITDA and net profit before tax ahead of its forecasts by 1%.

Cash flow before interest and tax was $23m representing 84% cash conversation, and net debt declined to $7.2m from $15.9m in FY24.

The broker notes the company is now well-positioned to leverage organic operations and the two acquisitions in 2023. The new Kalgoorlie site is also expected to deliver positive EBITDA by 2H26.

The broker cut FY26-27 revenue forecasts by -2-3% but lifted FY26 EBIT forecast by 2.6% and FY27 by 3%.

Buy. Target rises to $2.75 from $2.50.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 7.59 cents and EPS of 20.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 8.25 cents and EPS of 22.00 cents.