PERENTI LIMITED (PRN)
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PRN - PERENTI LIMITED

FNArena Sector : Mining Sector Contracting
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.49
Index: ASX300 | ALL-ORDS

Perenti Group is a multi-national mining services company with operations in surface mining, underground mining and mining support services in several countries. The group was founded in 1987 in Kalgoorlie and listed on the ASX in 1994. Prior ASX-listing was as Barminco.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.355

20 Jan
2025

-0.035

OPEN

$1.39

-2.52%

HIGH

$1.40

1,778,646

LOW

$1.35

TARGET
$1.59 17.3% upside
Franking for last dividend paid out: 6%
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . DOW . EHL . GNG . IMD . IPG . IPL . LBL . LYL . MAD . MAH . MIN . MLG . MND . MSV . MYE . NWH . ORI . RAN . RCR . RDG . RUL . SGH . SRG . SXE . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
PRN: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 10.9 19.7 xxx
DPS (cps) xxx 6.0 6.7 xxx
EPS Growth xxx - 21.8% 81.3% xxx
DPS Growth xxx 100.0% 11.1% xxx
PE Ratio xxx N/A 6.9 xxx
Dividend Yield xxx N/A 4.9% xxx
Div Pay Ratio(%) xxx 55.3% 33.9% xxx

Dividend yield today if purchased 3 years ago: 6.98%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.32

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: 08/10 - ex-div 4c (franking 6%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx10.9
DPS All xxxxxxxxxxxxxxx6.0
Sales/Revenue xxxxxxxxxxxxxxx3,342.0 M
Book Value Per Share xxxxxxxxxxxxxxx188.7
Net Operating Cash Flow xxxxxxxxxxxxxxx487.8 M
Net Profit Margin xxxxxxxxxxxxxxx2.86 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx6.03 %
Return on Invested Capital xxxxxxxxxxxxxxx3.92 %
Return on Assets xxxxxxxxxxxxxxx3.02 %
Return on Equity xxxxxxxxxxxxxxx6.03 %
Return on Total Capital xxxxxxxxxxxxxxx9.85 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx133.5 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx17 M
Long Term Debt xxxxxxxxxxxxxxx911 M
Total Debt xxxxxxxxxxxxxxx929 M
Goodwill - Gross xxxxxxxxxxxxxxx457 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx459 M
Price To Book Value xxxxxxxxxxxxxxx0.53

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx335.2 M
Capex % of Sales xxxxxxxxxxxxxxx10.03 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,746 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx353 M
Research & Development xxxxxxxxxxxxxxx-
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

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

13/11/2024

1

Initiation of coverage with Buy

$1.47

8.49%

Bell Potter initiates coverage on Perenti with a Buy rating and a $1.47 target price.

The analyst believes the stock offers value at under 6x FY25 price-to-earnings with high cash flow generation at 17% of market capitalisation in FY24, a 6% dividend yield, and a discount to NTA of $1.26.

Perenti is a contractor for underground and surface mines in Australia and Africa, accounting for 90% of revenues, with 62% exposure to gold and 13% to copper. The analyst believes the company is and will continue to benefit from the strong gold price.

The contractor benefits from relatively long-term projects, but the balance sheet is capital-heavy, funded by debt. Revenue growth of 15% p.a. over the last five years has been achieved.

Buy rated with a $1.47 target price.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 7.40 cents and EPS of 19.80 cents.
Bell Potter forecasts a full year FY26 dividend of 7.80 cents and EPS of 22.70 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

01/08/2024

1

Buy

$1.28

-5.54%

Canaccord Genuity observes Perenti has secured multiple contract extensions and wins, which suggest strong cash flow performance, particularly in 2H24, with free cash flow expected to be around $188m.

The broker anticipates the company's largest contract, Khoemacau Zone 5, which has been extended for 12 months will support margins through FY25.

Notably, the analyst views the significant cash conversion, over 95% and capex savings, a reduction to $305m for FY24 as positive for Perenti.

Canaccord Genuity adjusts the EPS forecasts by 3% increase in FY24 and 8% in FY25.

The Buy rating unchanged and the target price raised to $1.28 from $1.25.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 4.00 cents and EPS of 17.40 cents.
Access Extra Coverage Research History >

PRN STOCK CHART

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