MACMAHON HOLDINGS LIMITED (MAH)
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MAH

MAH - MACMAHON HOLDINGS LIMITED

FNArena Sector : Mining Sector Contracting
Year End: June
GICS Industry Group : Capital Goods
Debt/EBITDA: 1.18
Index: ALL-ORDS

Macmahon Holdings is an Australian mining and construction services company. Founded in 1963, the company became a listed entity in 1983.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.43

27 Aug
2025

0.000

OPEN

$0.44

0.000

HIGH

$0.44

3,645,851

LOW

$0.43

TARGET
$0.50 16.3% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . DNL . DOW . EHL . GNG . IMD . IPG . LBL . LYL . MAD . MIN . MLG . MND . MSV . MYE . NWH . ORI . PRN . RAN . RCR . RDG . RUL . SGH . SRG . SXE . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
MAH: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 3.5 5.3 xxx
DPS (cps) xxx 1.5 1.7 xxx
EPS Growth xxx 37.2% 52.7% xxx
DPS Growth xxx 42.9% 12.0% xxx
PE Ratio xxx N/A 8.1 xxx
Dividend Yield xxx N/A 3.9% xxx
Div Pay Ratio(%) xxx 43.2% 31.7% xxx

Dividend yield today if purchased 3 years ago: 8.82%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.49

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: 19/09 - ex-div 0.6c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx3.5
DPS All xxxxxxxxxxxxxxx1.5
Sales/Revenue xxxxxxxxxxxxxxx2,427.5 M
Book Value Per Share xxxxxxxxxxxxxxx32.5
Net Operating Cash Flow xxxxxxxxxxxxxxx334.0 M
Net Profit Margin xxxxxxxxxxxxxxx3.05 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx11.15 %
Return on Invested Capital xxxxxxxxxxxxxxx7.79 %
Return on Assets xxxxxxxxxxxxxxx4.60 %
Return on Equity xxxxxxxxxxxxxxx11.15 %
Return on Total Capital xxxxxxxxxxxxxxx13.38 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx130.9 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx90 M
Long Term Debt xxxxxxxxxxxxxxx337 M
Total Debt xxxxxxxxxxxxxxx426 M
Goodwill - Gross xxxxxxxxxxxxxxx40 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx264 M
Price To Book Value xxxxxxxxxxxxxxx0.94

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx178.5 M
Capex % of Sales xxxxxxxxxxxxxxx7.35 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,921 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx367 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx53 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

Bell Potter

21/08/2025

1

Buy

$0.50

16.28%

Macmahon Holdings delivered a strong FY25 result, assesses Bell Potter, with all key metrics above guidance and consensus.

Underlying earnings (EBITDA) of $171m rose 22% year-on-year and were 2.4% ahead of consensus, while profit of $102m was up 11.5% and 3.4% ahead.

Free cash flow was $141m, reducing net debt to $163m and gearing to 19%. The dividend lifted 43% to 1.5c, 15% above the broker's expectations.

The analysts highlight benefits from the Decmil acquisition, which diversifies into civil infrastructure and adds a $500m contract book with a $10.4bn pipeline. 

Bell Potter modestly upgrades EPS forecasts by 0.1% for FY26, 3.4% for FY27, and 2.8% for FY28. The target price is increased to 50c from 40c. Buy rating kept.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 1.68 cents and EPS of 5.30 cents.
Bell Potter forecasts a full year FY27 dividend of 2.00 cents and EPS of 5.80 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Petra Capital

25/08/2025

1

Buy

$0.49

13.95%

Macmahon Holdings delivered a strong FY25 result, Petra Capital observes, as double-digit revenue growth and 15bps increase in underlying EBITA margins meant earnings met its forecasts.

Moreover, the company's FY26 guidance for revenue and EBITA were ahead of the broker's forecasts, leading to an upgrade to the FY26 EBITA forecast.

Petra Capital highlights the company has consistently delivered on guidance and has a more diverse revenue base now, with pipeline growth supporting medium-term trajectory.

Buy. Target lifted to 49c from 41c.

FORECAST
Petra Capital forecasts a full year FY26 dividend of 2.00 cents and EPS of 5.10 cents.
Petra Capital forecasts a full year FY27 dividend of 2.50 cents and EPS of 6.10 cents.

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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Access Extra Coverage Research History >

MAH STOCK CHART

FNArena News on MAH

1
Australian Broker Call *Extra* Edition – Aug 25, 2025

Aug 25 2025 - Daily Market Reports
2
FNArena Corporate Results Monitor – 21-08-2025

Aug 21 2025 - Australia
3
Rudi’s View: Extreme Bifurcation Ahead Of August

Jul 23 2025 - Rudi's View
4
Australian Broker Call *Extra* Edition – Jun 30, 2025

Jun 30 2025 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Jun 05, 2025

Jun 05 2025 - Daily Market Reports

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