MAXIPARTS LIMITED (MXI)
Share Price Analysis and Chart

24/07/2026

1

Buy

$2.80

70.21%

Ord Minnett assesses a "solid" FY26 preliminary result from MaxiPARTS despite subdued transport activity and ongoing competitive pressures.

The broker notes operating profit before tax exceeded guidance, supported by stronger cost discipline, while revenue remained within guidance and net cash improved following inventory optimisation.

Ord Minnett expects both revenue and profit to improve in FY27, supported by ongoing organic growth initiatives and recent acquisitions.

The broker retains its Buy rating and an unchanged target of $2.80.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 8.40 cents and EPS of 16.90 cents.
Ord Minnett forecasts a full year FY27 dividend of 9.00 cents and EPS of 18.80 cents.

30/07/2026

1

Buy

$2.56

55.62%

Canaccord Genuity maintains a Buy rating for MaxiPARTS with its target price increased to $2.56 from $2.50 following an upgraded FY26 underlying net profit before tax guidance of $14.2m.

Revenues reached $274.4m, up 3% on the prior corresponding period, as management successfully navigated a temporary industry slowdown caused by Middle East conflicts and elevated diesel prices earlier in 2026.

Balance sheet strength significantly improved with FY26 net cash guided at $7m, supported by strong inventory program execution delivering a 115% cash conversion rate.

Executive leadership updates include the appointment of Anu Parikh as chief financial officer and Edie Hanaphy as general manager of operations.

Driven by robust cash flow generation, the analyst increases the dividend payout ratio to 55%, forecasting fully franked dividends of 9.75c for FY26, 11.0c for FY27, and 13.25c for FY28.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 9.75 cents and EPS of 17.70 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 11.00 cents and EPS of 20.00 cents.