DYNO NOBEL LIMITED (DNL)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

DNL

DNL - DYNO NOBEL LIMITED

FNArena Sector : Mining Sector Contracting
Year End: September
GICS Industry Group : Materials
Debt/EBITDA: 3.05
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Dyno Nobel manufactures and supplies commercial explosives, blasting systems and related services to the mining, quarrying and construction industries.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.39

12 Nov
2026

0.020

OPEN

$3.40

0.59%

HIGH

$3.44

11,048,610

LOW

$3.33

TARGET
$4.092 20.7% upside
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . DOW . EHL . GNG . IMD . IPG . LBL . LYL . MAD . MAH . MIN . MLG . MND . MSV . MYE . NWH . ORI . PRN . RAN . RCR . RKT . SGH . SRG . SXE . TEA . VBC . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
DNL: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 13.9 18.5 xxx
DPS (cps) xxx 9.6 9.3 xxx
EPS Growth xxx 76.7% 33.6% xxx
DPS Growth xxx - 19.3% - 2.7% xxx
PE Ratio xxx N/A 18.2 xxx
Dividend Yield xxx N/A 2.8% xxx
Div Pay Ratio(%) xxx 69.3% 50.5% xxx

Dividend yield today if purchased 3 years ago: 3.27%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.85

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: 12/06 - (franking ex-div 4.60c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx13.9
DPS All xxxxxxxxxxxxxxx9.6
Sales/Revenue xxxxxxxxxxxxxxx3,406.2 M
Book Value Per Share xxxxxxxxxxxxxxx224.6
Net Operating Cash Flow xxxxxxxxxxxxxxx276.3 M
Net Profit Margin xxxxxxxxxxxxxxx6.80 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx5.54 %
Return on Invested Capital xxxxxxxxxxxxxxx4.05 %
Return on Assets xxxxxxxxxxxxxxx3.14 %
Return on Equity xxxxxxxxxxxxxxx5.54 %
Return on Total Capital xxxxxxxxxxxxxxx5.00 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-319.8 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx74 M
Long Term Debt xxxxxxxxxxxxxxx1,690 M
Total Debt xxxxxxxxxxxxxxx1,764 M
Goodwill - Gross xxxxxxxxxxxxxxx1,725 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx108 M
Price To Book Value xxxxxxxxxxxxxxx1.83

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx345.3 M
Capex % of Sales xxxxxxxxxxxxxxx10.14 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,682 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx421 M
Research & Development xxxxxxxxxxxxxxx17 M
Investments - Total xxxxxxxxxxxxxxx480 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

0.6

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

10/11/2026

1

Overweight

$4.80

41.59%

On first look, Dyno Nobel's FY26 EBIT of $485m was in line with September guidance, while NPAT was within the guided range, according to Morgan Stanley.

DNA EBIT was a record, up 19% y/y, and 1% ahead of consensus, while DNAP rose 10% y/y but was -1% below expectations. The analyst points out DNEL came in down -40% y/y and -27% below consensus.

FY27 EBIT guidance of $515m-$555m implies 10% growth at the midpoint, broadly in line with consensus of $533m. Excluding -$25m in planned turnaround impacts, underlying growth would be around 5%, the broker explains.

Management reaffirmed its medium-term EBIT targets of $600m in FY28 and $800m in FY31, including $30m-$40m from US defence energetics by FY31.

Overweight. Target $4.80. Industry view: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY27 dividend of 9.00 cents and EPS of 19.00 cents.
Morgan Stanley forecasts a full year FY28 EPS of 23.00 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

11/11/2026

2

Overweight

$4.00

17.99%

Jarden retains its Overweight rating for Dyno Nobel with its target price reduced to $4.00 from $4.10 following an FY26 result featuring net profit after tax of $332m, 1% ahead of consensus expectations.

Operational performance was driven by strength in the DNA and DNAP segments, whereas earnings in the DNEL segment proved softer due to lower demand and elevated supply chain costs.

Management's FY27 EBIT guidance aligned broadly with expectations, though financial leverage and net interest costs both exceeded predictions.

Cash conversion is projected to normalise to 60% to 70% levels in FY27, albeit from a leverage starting point near the upper limit of the 1.75x to 2.25x target range.
Access Extra Coverage Research History >

DNL STOCK CHART

FNArena News on DNL

1
Dyno Nobel’s Turnaround Tests Investors

Nov 12 2026 - Australia
2
Australian Broker Call *Extra* Edition – Nov 11, 2026

Nov 11 2026 - Daily Market Reports
3
In Case You Missed It – BC Extra Upgrades & Downgrades – 06-11-26

Nov 06 2026 - Weekly Reports
4
Rudi’s View: Previews To November Results

Nov 05 2026 - Rudi's View
5
Rudi’s View: Optimism Up, Headwinds Remain

Nov 04 2026 - Rudi's View

Latest Mining Sector Contracting News

1
Dyno Nobel’s Turnaround Tests Investors

Nov 12 2026 - Australia
2
Chrysos Converts Disruption Into Dollars

Oct 01 2026 - Small Caps
3
Dyno Nobel Blasting Into Defence Earnings

Sep 21 2026 - Australia
4
NRW Holdings Shares Ready To Rally

Sep 08 2026 - Technicals
5
Dyno Nobel Clears Major Technical Hurdle

Jun 09 2026 - Technicals
6
New-Look Dyno Nobel’s Explosive First Half

May 14 2026 - Australia
7
Mining, Value-adds Underpin Orica’s Outlook

May 12 2026 - Australia
8
Execution Capacity Key To Contractor Premiums

Mar 24 2026 - Australia
9
Market Too Negative On Orica’s Headwinds?

Mar 11 2026 - Australia
10
Imdex Rides The Exploration Wave

Feb 26 2026 - Commodities