EROAD LIMITED (ERD)
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ERD

ERD - EROAD LIMITED

FNArena Sector : Transportation & Logistics
Year End: March
GICS Industry Group : Technology Hardware & Equipment
Debt/EBITDA: 0.54
Index: ALL-TECH

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.615

03 Nov
2025

-0.085

OPEN

$1.70

-5.00%

HIGH

$1.76

310,890

LOW

$1.60

TARGET
$2.50 54.8% upside
OTHER COMPANIES IN THE SAME SECTOR
ACE . AIZ . AQZ . AVD . AZJ . BWN . BXB . CLX . KLS . KSC . LAU . NTD . QAN . QUB . SPZ . SST . THL . WTC .
FNARENA'S MARKET CONSENSUS FORECASTS
ERD: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 3.9 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 41.4 xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) N/A xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

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
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx0.7
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx173.9 M
Book Value Per Share xxxxxxxxxxxxxxx161.2
Net Operating Cash Flow xxxxxxxxxxxxxxx39.3 M
Net Profit Margin xxxxxxxxxxxxxxx0.73 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx0.44 %
Return on Invested Capital xxxxxxxxxxxxxxx0.40 %
Return on Assets xxxxxxxxxxxxxxx0.31 %
Return on Equity xxxxxxxxxxxxxxx0.44 %
Return on Total Capital xxxxxxxxxxxxxxx1.27 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx27.1 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 xxxxxxxxxxxxxxx6 M
Long Term Debt xxxxxxxxxxxxxxx22 M
Total Debt xxxxxxxxxxxxxxx28 M
Goodwill - Gross xxxxxxxxxxxxxxx115 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx36 M
Price To Book Value xxxxxxxxxxxxxxx0.54

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx25.8 M
Capex % of Sales xxxxxxxxxxxxxxx14.82 %
Cost of Goods Sold xxxxxxxxxxxxxxx135 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx34 M
Research & Development xxxxxxxxxxxxxxx19 M
Investments - Total xxxxxxxxxxxxxxx0 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

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Shaw and Partners

21/10/2025

1

Buy

$2.50

54.80%

Shaw and Partners notes Eroad's business update prioritising growth opportunities in Australia/NZ. However, this was also accompanied by a downgrade in FY26 guidance to NZ$197-203m, from over NZ$205m previously guided on US market challenges.

Annual recurring revenue is now expected to be NZ$175-183m vs over NZ$188m, and free cash flow margin at 5-8% vs 8-10% expected before.

The downgrade mainly reflects a legacy Coretex customer churn in the US, with no major renewals expected in the next 12–24 months, the broker observes.

The company appointed John Scott as Executive Chair to drive the transformative eRUC opportunity, and the broker is more confident the eRUC opportunity will be well-tapped.

Target trimmed to $2.50 from $3.20 after downgrading FCF estimates for FY26-28 and lowering revenue forecasts.

Buy, High Risk maintained.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.90 cents.
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 4.72 cents.
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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

Canaccord Genuity

xx/xx/xxxx

1

xxx

-

xx.xx%

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Jarden

28/10/2025

4

Underweight

-

-

Management at Eroad has shifted focus toward A&NZ operations following weaker-than-expected performance in North America, explains Jarden.

FY26 annual recurring revenue (ARR) guidance was downgraded (on October 17) to NZ$175-183m from more than NZ$188m. 

Management changes were also announced aimed at capitalising on the opportunity in New Zealand electronic road user charges (eRUC), which Jarden values at around NZ$0.91 per share.

While viewing the strategic refocus as logical, the analyst points to ongoing execution risks in North America and rising local competition.

The broker's revenue forecasts have been reduced by -4-8% to reflect slower progress offshore. The target price is lowered to NZ$1.85 from NZ$2.30. Underweight rating unchanged.

Moelis

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

ERD STOCK CHART

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