EMECO HOLDINGS LIMITED (EHL)
Share Price Analysis and Chart

24/08/2026

3

Neutral

$1.15

1.77%

Emeco Holdings FY26 operating earnings were in line with the June trading update. Result reflected some headwinds from wet weather and supply and cost challenges, Macquarie notes, however demand across key commodities remains strong.

The FY27 outlook is unchanged with earnings to be in line with FY26, but improving utilisation will see FY28 set for earnings growth to hit 20% return on capital target, the broker reports.

Emeco continues to assess consolidation and maintenance services acquisition opportunities within the fragmented mining services sector. Target rises to $1.15 from $1.08, Neutral retained.

FORECAST
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of 17.30 cents.
Macquarie forecasts a full year FY28 dividend of 0.00 cents and EPS of 19.20 cents.

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24/08/2026

2

Upgrade to Overweight from Neutral

$1.15

1.77%

Jarden moves its recommendation for Emeco Holdings to Overweight from Neutral with its target price increased to $1.15 from $1.05 following an FY26 EBIT result of $148m landing in line with pre-guided expectations of $145m to $150m.

The FY27 outlook points to improving surface and underground fleet utilisation, keeping the company on track to achieve a return on capital of 20% by FY28.

Emeco Holdings announced an on-market buyback of up to 10% of shares on issue, underscoring strong management confidence in its balance sheet and current share price valuation.

Supported by an 11% forecast free cash flow yield and a 6x forward price-to-earnings multiple, the stock screens as an attractive risk and reward opportunity.

The analyst upgrades the recommendation to Overweight to reflect the improved earnings outlook and higher free cash flow generation forecasts.