EMECO HOLDINGS LIMITED (EHL)
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EHL

EHL - EMECO HOLDINGS LIMITED

FNArena Sector : Mining Sector Contracting
Year End: June
GICS Industry Group : Capital Goods
Debt/EBITDA: 1.11
Index: ALL-ORDS

Emeco Holdings is an Australian mining and earth moving equipment rental company. Founded in 1972 as the EarthMoving Equipment Company, it listed on the ASX in 2006.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.05

03 Sep
2025

0.000

OPEN

$1.06

0.000

HIGH

$1.06

463,258

LOW

$1.03

TARGET
$1.40 33.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . DNL . DOW . GNG . IMD . IPG . LBL . LYL . MAD . MAH . MIN . MLG . MND . MSV . MYE . NWH . ORI . PRN . RAN . RCR . RUL . SGH . SRG . SXE . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
EHL: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 14.5 15.7 xxx
DPS (cps) xxx 0.0 4.7 xxx
EPS Growth xxx 42.1% 8.4% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 6.7 xxx
Dividend Yield xxx N/A 4.5% xxx
Div Pay Ratio(%) xxx N/A 29.9% xxx

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

Last ex-div: 07/09 - ex-div 1.25c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx14.5
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx785.4 M
Book Value Per Share xxxxxxxxxxxxxxx138.9
Net Operating Cash Flow xxxxxxxxxxxxxxx253.8 M
Net Profit Margin xxxxxxxxxxxxxxx9.57 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx11.11 %
Return on Invested Capital xxxxxxxxxxxxxxx7.68 %
Return on Assets xxxxxxxxxxxxxxx6.21 %
Return on Equity xxxxxxxxxxxxxxx11.11 %
Return on Total Capital xxxxxxxxxxxxxxx13.09 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx92.0 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 xxxxxxxxxxxxxxx22 M
Long Term Debt xxxxxxxxxxxxxxx299 M
Total Debt xxxxxxxxxxxxxxx321 M
Goodwill - Gross xxxxxxxxxxxxxxx8 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx126 M
Price To Book Value xxxxxxxxxxxxxxx0.60

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx161.8 M
Capex % of Sales xxxxxxxxxxxxxxx20.60 %
Cost of Goods Sold xxxxxxxxxxxxxxx557 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx95 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

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

Macquarie

21/08/2025

1

Outperform

$1.40

33.33%

Emeco Holdings' FY25 result came in ahead of Macquarie’s expectations, with profit of $84m up by 22% year-on-year and earnings (EBITDA) beating forecasts by 2%.

Strong operating cash flow supported a reduction in net debt to $195m and leverage to 0.65 times from 1.0 times, explains the analyst.

Return on capital (ROC) lifted by 170bps to 17%, with the second half run-rate at 18%.

Rental activity remains robust, highlights the broker, with fleet utilisation expected to improve towards the 90% target in FY26, underpinned by mining production growth and recent underground contract wins.

Force (the maintenance and component rebuild services division) earnings fell by -2.5% year-on-year. This was due to weaker rebuild activity, though Macquarie highlights new opportunities including a maintenance agreement for Fortescue’s ((FMG)) battery-powered fleet.

Management targets return on capital of 20% with no growth capex and further de-gearing in FY26.

Macquarie upgrades its FY26-FY28 EPS forecasts by 12% across all years, driven by stronger rental margins and lower depreciation. The target price rises to $1.40 from $1.18. Outperform rating retained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 4.70 cents and EPS of 15.70 cents.
Access Stockbroker Research History >
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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

24/08/2025

2

Overweight

$1.05

0%

Jarden views FY25 as a defining year for Emeco Holdings in terms of earnings stability, boosted by cost reduction, lower capital intensity and improving cash flow.

The broker expects these trends to support earnings ahead, though FY26 EBITDA growth is seen moderating to 3% from 7% in FY25. Rental performance was strong over FY25, especially in the 2H, making the broker confident about FY26 outlook.

FY25 underlying EBITDA of $301m was in line with guidance,

The broker lifted core EPS forecast for FY26 by 4% and by 5% for FY27.

Overweight. Target lifted to $1.05 from $1.00.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 16.60 cents.
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 17.20 cents.
Access Extra Coverage Research History >

EHL STOCK CHART

FNArena News on EHL

1
Australian Broker Call *Extra* Edition – Aug 25, 2025

Aug 25 2025 - Daily Market Reports
2
FNArena Corporate Results Monitor – 21-08-2025

Aug 21 2025 - Australia
3
Rudi’s View: Taking Stock Ahead Of August

Jul 30 2025 - Rudi's View
4
Australian Broker Call *Extra* Edition – Jul 21, 2025

Jul 21 2025 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Feb 25, 2025

Feb 25 2025 - Daily Market Reports

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