AGL ENERGY LIMITED (AGL)
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AGL

AGL - AGL ENERGY LIMITED

FNArena Sector : Infrastructure & Utilities
Year End: June
GICS Industry Group : Utilities
Debt/EBITDA: 1.67
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

AGL Energy owns and operates several power stations and is developing several renewable energy projects. The company also supplies gas for residential and commercial use. AGL was the second company to list on the Sydney stock exchange in 1871.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$8.97

20 Aug
2026

-0.030

OPEN

$9.00

-0.33%

HIGH

$9.03

2,628,255

LOW

$8.90

TARGET
$9.674 7.8% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AIA . ALX . APA . CEN . DBI . DBI . GNE . GNP . MEZ . ORG . SRJ . TCL .
FNARENA'S MARKET CONSENSUS FORECASTS
AGL: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 112.4 87.3 xxx
DPS (cps) xxx 50.0 49.9 xxx
EPS Growth xxx N/A - 22.3% xxx
DPS Growth xxx 4.2% - 0.2% xxx
PE Ratio xxx N/A 10.2 xxx
Dividend Yield xxx N/A 5.6% xxx
Div Pay Ratio(%) xxx 44.5% 57.1% xxx

Dividend yield today if purchased 3 years ago: 4.58%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.63

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: 24/02 - ex-div 24.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx112.4
DPS All xxxxxxxxxxxxxxx50.0
Sales/Revenue xxxxxxxxxxxxxxx13,590.0 M
Book Value Per Share xxxxxxxxxxxxxxx784.2
Net Operating Cash Flow xxxxxxxxxxxxxxx1,148.0 M
Net Profit Margin xxxxxxxxxxxxxxx5.56 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx14.92 %
Return on Invested Capital xxxxxxxxxxxxxxx8.86 %
Return on Assets xxxxxxxxxxxxxxx4.70 %
Return on Equity xxxxxxxxxxxxxxx14.92 %
Return on Total Capital xxxxxxxxxxxxxxx16.37 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-619.0 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx174 M
Long Term Debt xxxxxxxxxxxxxxx3,860 M
Total Debt xxxxxxxxxxxxxxx4,034 M
Goodwill - Gross xxxxxxxxxxxxxxx3,220 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx710 M
Price To Book Value xxxxxxxxxxxxxxx1.06

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx1,438.0 M
Capex % of Sales xxxxxxxxxxxxxxx10.58 %
Cost of Goods Sold xxxxxxxxxxxxxxx11,713 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx447 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx935 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

0.1

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

13/08/2026

5

Underperform

$7.94

-11.48%

Macquarie, on further analysis, notes FY27 guidance at the mid point is down -10%, despite $1bn in battery assets in service. The weight of lower power and gas prices absorbs EBITDA growth.

The broker assesses both batteries entering the National Electricity Market at this scale and the eventual exit of coal are structural challenges for FY28-FY30.

The risk remains to the downside, as power markets will weigh on earnings at the same time favourable legacy contracts expire.

Target rises to $7.94 from $7.75, as earnings estimates are raised by 24% for FY27 and 21% for FY28, with the uplift in the former from better hedging and lower depreciation compared with prior expectations. Underperform.

****

In an initial assessment, Macquarie found AGL Energy's FY26 result, while lower than the prior year, ahead of forecasts. Consumer EBITDA was slightly lower than the broker expected. Gas earnings were the most disappointing.

FY27 EBITDA guidance of $1.9bn-$2.2bn is in line with expectations. The broker assesses AGL is in a downgrade cycle with the wholesale base/volatility trending lower.

The focus is on FY28, with batteries only mitigating the decline to a small extent. The broker finds it curious that management flagged future volatility with coal closures.

Macquarie expects prices to recover but believes this lies beyond FY31, particularly if coal closures are delayed. Underperform. Target is $7.75.

FORECAST
Macquarie forecasts a full year FY27 dividend of 50.00 cents and EPS of 86.20 cents.
Macquarie forecasts a full year FY28 dividend of 32.00 cents and EPS of 52.90 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

0

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
Access Extra Coverage Research History >

AGL STOCK CHART

FNArena News on AGL

1
Weekly Ratings, Targets, Forecast Changes – 14-08-26

Aug 17 2026 - Weekly Reports
2
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Aug 06 2026 - Rudi's View

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