VYSARN LIMITED (VYS)
Share Price Analysis and Chart

09/06/2026

1

Upgrade to Buy from Speculative Buy

$1.10

12.24%

In a deal expected to be around 25% earnings-per-share accretive, Vysarn will acquire irrigation and water infrastructure specialist NewGround. Morgans highlights this move will improve earnings quality and reduce exposure to mining cycles.

NewGround provides design, construction and maintenance services for industrial-scale irrigation and water management systems.

It's felt the acquisition strengthens the company's strategy of building an integrated water services platform, adds a defensive, recurring revenue stream, and broadens Vysarn's customer base.

Morgans increases its FY27 and FY28 earnings forecasts by 19% and 24%, respectively. The target is raised to $1.10 from $0.90 and the rating is upgraded to Buy from Speculative Buy

FORECAST
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.80 cents.
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 3.50 cents.

05/06/2026

1

Buy

$1.07

9.18%

Canaccord Genuity maintains a Buy rating for Vysarn with its target price increased to $1.07 following the strategic acquisition of industrial irrigation and water maintenance business NewGround.

Binding agreements detail a consideration structure comprising up to 33.0m shares and $25m in cash, implying an attractive enterprise value to earnings before interest and tax multiple of up to 5.9x, Canaccord comments.

Pro forma earnings per share accretion is estimated at 25% based on a forecast financial year FY26 profit before tax of approximately $20m.

Forward modeling incorporates a nine-month operational contribution in FY27, projecting asset level revenue of $55m and earnings before interest and tax of $7.0m.

Valuation metrics expand the operating business multiple to 15.0x enterprise value to earnings before interest, tax, depreciation, and amortisation to reflect an enhanced structural growth profile across the Australian east coast, Canaccord highlights.