MAXIPARTS LIMITED (MXI)
Share Price Analysis and Chart

25/08/2025

1

Buy

$3.00

18.11%

MaxiPARTS reported FY25 profit of $8.8m, up 40.5% year-on-year and in line with Ord Minnett’s $8.7m forecast.

The result highlights to the analyst ongoing operational gains and a stronger financial position, despite revenue headwinds during the year.

Sales rose 9.5% to $267.1m, just below the broker’s $271.7m forecast, with growth slowing in the second half. Earnings (EBITDA) of $27.3m were up 18.4% and matched forecasts, while margins improved to 10.2%.

Net debt fell to $7.2m from $15.9m, supported by strong cash flow, highlights the analyst.

The broker believes customer demand will remain steady. FY26-FY27 earnings forecasts are upgraded by 2-5% on stronger margins.

Ord Minnett retains a Buy rating. target rises to $3.00 from $2.60.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 7.00 cents and EPS of 18.10 cents.
Ord Minnett forecasts a full year FY27 dividend of 8.50 cents and EPS of 20.90 cents.

27/08/2025

1

Buy

$2.75

8.27%

Canaccord Genuity assesses MaxiPARTS' FY25 result as strong, with EBITDA and net profit before tax ahead of its forecasts by 1%.

Cash flow before interest and tax was $23m representing 84% cash conversation, and net debt declined to $7.2m from $15.9m in FY24.

The broker notes the company is now well-positioned to leverage organic operations and the two acquisitions in 2023. The new Kalgoorlie site is also expected to deliver positive EBITDA by 2H26.

The broker cut FY26-27 revenue forecasts by -2-3% but lifted FY26 EBIT forecast by 2.6% and FY27 by 3%.

Buy. Target rises to $2.75 from $2.50.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 7.59 cents and EPS of 20.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 8.25 cents and EPS of 22.00 cents.