NRW HOLDINGS LIMITED (NWH)
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NWH

NWH - NRW HOLDINGS LIMITED

FNArena Sector : Mining Sector Contracting
Year End: June
GICS Industry Group : Capital Goods
Debt/EBITDA: 1.65
Index: ASX200 | ASX300 | ALL-ORDS

NRW Holdings is an Australian mining and infrastructure services company with operations in several states. The company was founded in 1994 and listed on the ASX in 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.80

01 Sep
2025

-0.040

OPEN

$3.84

-1.04%

HIGH

$3.84

945,820

LOW

$3.77

TARGET
$4.05 6.6% 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 . MAH . MIN . MLG . MND . MSV . MYE . ORI . PRN . RAN . RCR . RUL . SGH . SRG . SXE . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
NWH: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 6.1 30.8 xxx
DPS (cps) xxx 16.5 18.2 xxx
EPS Growth xxx - 73.8% 100.0% xxx
DPS Growth xxx 6.5% 10.1% xxx
PE Ratio xxx N/A 13.1 xxx
Dividend Yield xxx N/A 4.5% xxx
Div Pay Ratio(%) xxx 272.3% 59.0% xxx

Dividend yield today if purchased 3 years ago: 6.68%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.08

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 9c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx6.1
DPS All xxxxxxxxxxxxxxx16.5
Sales/Revenue xxxxxxxxxxxxxxx3,267.7 M
Book Value Per Share xxxxxxxxxxxxxxx133.4
Net Operating Cash Flow xxxxxxxxxxxxxxx251.5 M
Net Profit Margin xxxxxxxxxxxxxxx0.85 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx4.38 %
Return on Invested Capital xxxxxxxxxxxxxxx3.09 %
Return on Assets xxxxxxxxxxxxxxx1.60 %
Return on Equity xxxxxxxxxxxxxxx4.38 %
Return on Total Capital xxxxxxxxxxxxxxx5.86 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx34.1 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 xxxxxxxxxxxxxxx115 M
Long Term Debt xxxxxxxxxxxxxxx296 M
Total Debt xxxxxxxxxxxxxxx411 M
Goodwill - Gross xxxxxxxxxxxxxxx170 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx266 M
Price To Book Value xxxxxxxxxxxxxxx2.24

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx154.4 M
Capex % of Sales xxxxxxxxxxxxxxx4.73 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,789 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx421 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx7 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

0.8

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

25/08/2025

1

Buy

$4.00

5.26%

A mixed year for NRW Holdings finished on a strong note, UBS declares. The company delivered cash backed second half earnings growth of 17%, taking the full year to 11% year on year, in line with guidance.

The highest multiple Minerals, Energy & Technolgies segment was the standout, delivering second half earnings margin of 7.3%.

Four years ago NRW, upon creating the METS segment, outlined its expectation or ambition that this segment deliver margins of between 7-8%, UBS notes.

The outlook appears to be well supported by a number of iron ore related capex projects. UBS notes Civil's tender pipeline increased a massive $6.0bn versus December-24 levels, reflecting the supportive end-market backdrop for NRW.

Target rises to $4.00 from $3.55, Buy retained.

FORECAST
UBS forecasts a full year FY26 EPS of 31.00 cents.
UBS forecasts a full year FY27 EPS of 34.00 cents.

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

Moelis

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

27/08/2025

1

Buy

$3.99

5.00%

Canaccord Genuity highlights NRW Holdings delivered in-line numbers in a noisy period surrounding the OneSteel/Whyalla saga and issued better-than-expected FY26 guidance.

FY25 revenue was up 12% y/y and broadly in line with the broker's forecast. EBITDA also met expectation with strong margin improvement recorded in MET.

Lower capex was a positive surprise for the broker, highlighting growth capex discipline. FY26 revenue guidance for over $3.4bn revenue was in line with the broker's forecast and EBITDA midpoint was 3% above.

Buy. Target lifted to $3.99 from $3.55.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 17.70 cents and EPS of 29.90 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 19.10 cents and EPS of 32.20 cents.

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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NWH STOCK CHART

FNArena News on NWH

1
Australian Broker Call *Extra* Edition – Aug 27, 2025

Aug 27 2025 - Daily Market Reports
2
NRW Holdings Happily Says Goodbye To FY25

Aug 27 2025 - Small Caps
3
Australian Broker Call *Extra* Edition – Aug 26, 2025

Aug 26 2025 - Daily Market Reports
4
FNArena Corporate Results Monitor – 22-08-2025

Aug 22 2025 - Australia
5
Rudi’s View: Taking Stock Ahead Of August

Jul 30 2025 - Rudi's View

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