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: 1.32
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

$0.88

20 Feb
2025

-0.020

OPEN

$0.91

-2.22%

HIGH

$0.91

375,303

LOW

$0.88

TARGET
$1.18 34.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . DOW . GNG . IMD . IPG . IPL . LBL . LYL . MAD . MAH . MIN . MLG . MND . MSV . MYE . NWH . ORI . PRN . RAN . RCR . RDG . RUL . SGH . SRG . SXE . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
EHL: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 10.2 14.1 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 27.7% 38.2% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 6.3 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A 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 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx10.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx822.7 M
Book Value Per Share xxxxxxxxxxxxxxx123.9
Net Operating Cash Flow xxxxxxxxxxxxxxx237.2 M
Net Profit Margin xxxxxxxxxxxxxxx6.40 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx8.59 %
Return on Invested Capital xxxxxxxxxxxxxxx5.75 %
Return on Assets xxxxxxxxxxxxxxx4.65 %
Return on Equity xxxxxxxxxxxxxxx8.59 %
Return on Total Capital xxxxxxxxxxxxxxx12.13 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx15.7 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 xxxxxxxxxxxxxxx54 M
Long Term Debt xxxxxxxxxxxxxxx305 M
Total Debt xxxxxxxxxxxxxxx359 M
Goodwill - Gross xxxxxxxxxxxxxxx8 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx78 M
Price To Book Value xxxxxxxxxxxxxxx0.57

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx214.9 M
Capex % of Sales xxxxxxxxxxxxxxx26.13 %
Cost of Goods Sold xxxxxxxxxxxxxxx619 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx88 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

20/02/2025

1

Outperform

$1.18

34.09%

Emeco Holdings delivered a robust 1H25 result, with EBITDA in line with Macquarie’s estimates and 2% above consensus.

The analyst highlights half-on-half improvement in most financial metrics, with rising earnings margins as management focuses on efficiency and returns on capital employed.

Cash conversion was 94%, and free cash flow increased 22% year-on-year, supported by a decline in investing cash flow.

Macquarie lowers FY25 EPS by -3% and FY26 by -1% due to weather risk in Qld and WA.

Target rises to $1.18 from $1.03, Outperform retained.

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of 14.10 cents.
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

Jarden

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Canaccord Genuity

27/11/2024

1

Buy

$1.07

21.59%

Canaccord Genuity maintains its Buy rating for Emeco Holdings and raises the target price to $1.07 from $1.05, reflecting improvements in operational performance and return on capital.

FY25 earnings (EBITDA) guidance exceeds $300m, supported by robust gold and bulk commodity production, offsetting weaker performance in lithium and nickel, explains the broker.

The company is targeting a 20% return on capital by FY26, aided by a -$60m growth capex investment in FY24.

Operational updates indicate to the broker improved underground rental utilisation and confidence in redeploying surface rental equipment in 2H25. Management also reiterated depreciation and capex guidance.

Canaccord highlights strong free cash flow generation and a deleveraging balance sheet, with the overall valuation supported by an attractive FY25 valuation multiple. 

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 14.80 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 3.20 cents and EPS of 15.80 cents.
Access Extra Coverage Research History >

EHL STOCK CHART

FNArena News on EHL

1
FNArena Corporate Results Monitor – 20-02-2025

Feb 20 2025 - Australia
2
In Case You Missed It – BC Extra Upgrades & Downgrades – 29-11-24

Nov 29 2024 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Nov 27, 2024

Nov 27 2024 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Nov 25, 2024

Nov 25 2024 - Daily Market Reports
5
In Case You Missed It – BC Extra Upgrades & Downgrades – 30-08-24

Aug 30 2024 - Weekly Reports

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