NRW HOLDINGS LIMITED (NWH)
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NWH

NWH - NRW HOLDINGS LIMITED

FNArena Sector : Mining Sector Contracting
Year End: June
GICS Industry Group : Capital Goods
Debt/EBITDA: 1.65
Index: ASX200 | ASX300 | ALL-ORDS

NRW Holdings is an Australian mining and infrastructure services company with operations in several states. The company was founded in 1994 and listed on the ASX in 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$7.34

17 Jun
2026

0.070

OPEN

$7.23

0.96%

HIGH

$7.45

1,541,781

LOW

$7.15

TARGET
$7.50 2.2% 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 . MAH . MIN . MLG . MND . MSV . MYE . ORI . PRN . RAN . RCR . SGH . SRG . SXE . TEA . VBC . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
NWH: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 6.1 37.7 xxx
DPS (cps) xxx 16.5 19.5 xxx
EPS Growth xxx - 73.8% 100.0% xxx
DPS Growth xxx 6.5% 18.2% xxx
PE Ratio xxx N/A 18.8 xxx
Dividend Yield xxx N/A 2.8% xxx
Div Pay Ratio(%) xxx 272.3% 51.8% xxx

Dividend yield today if purchased 3 years ago: 6.99%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.33

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: 18/09 - ex-div 9.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic 18.212.521.719.023.26.1
DPS All 6.59.012.516.515.516.5
Sales/Revenue 2,004.4 M2,221.5 M2,377.7 M2,667.1 M2,913.0 M3,267.7 M
Book Value Per Share 110.7121.4133.2135.2143.4133.4
Net Operating Cash Flow 215.7 M147.4 M288.0 M247.0 M233.5 M251.5 M
Net Profit Margin 3.68 %2.44 %4.10 %3.21 %3.61 %0.85 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed 19.31 %10.67 %17.04 %14.17 %16.65 %4.38 %
Return on Invested Capital 14.29 %7.53 %12.50 %10.51 %12.27 %3.09 %
Return on Assets 7.49 %3.97 %6.71 %5.51 %6.45 %1.60 %
Return on Equity 19.31 %10.67 %17.04 %14.17 %16.65 %4.38 %
Return on Total Capital 22.00 %11.24 %14.70 %15.41 %18.53 %5.86 %
Free Cash Flow ex dividends 114.8 M34.5 M39.4 M-6.2 M-25.0 M34.1 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 97 M106 M83 M93 M94 M115 M
Long Term Debt 213 M212 M203 M219 M232 M296 M
Total Debt 310 M318 M286 M312 M325 M411 M
Goodwill - Gross 82 M163 M168 M170 M170 M170 M
Cash & Equivalents - Generic 170 M147 M219 M228 M247 M266 M
Price To Book Value 1.681.211.271.872.162.24

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 82.6 M78.6 M206.3 M187.3 M194.8 M154.4 M
Capex % of Sales 4.12 %3.54 %8.68 %7.02 %6.69 %4.73 %
Cost of Goods Sold 1,525 M1,830 M2,018 M2,235 M2,456 M2,789 M
Selling, General & Admin. Exp & Other 350 M299 M231 M293 M281 M421 M
Research & Development ------
Investments - Total 3 M16 M22 M27 M4 M7 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

0.8

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

14/05/2026

1

Outperform

$8.10

10.35%

Macquarie adjusts its valuation for NRW Holdings after a strong re-rating in the contractor sector. The valuation remains attractive given the growth outlook and the strategic acquisition of Fredon is performing well, being a key driver of upside risk to consensus forecasts for FY27 and FY28.

Management expects to achieve margin improvement through procurement savings, operating efficiencies and locking in resources for particular clients. Target rises to $8.10 from $6.90 and an Outperform rating is maintained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 20.50 cents and EPS of 38.00 cents.
Macquarie forecasts a full year FY27 dividend of 24.00 cents and EPS of 41.00 cents.

Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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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%

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Moelis

24/02/2026

1

Buy

$6.90

-5.99%

NRW Holdings has upgraded FY26 guidance for EBITA  to a range of $275-285m amid strong first half results that beat Moelis estimates.

The civil segment delivered 6% revenue growth at a 5% EBIT margin, which is expected to improve as underperforming contracts are cycled.

Mining also reported an increase in EBITA of 7.8% with an improved 9% margin. Visibility has improved into FY27 with an increased $7.5bn order book. Buy rating retained. Target rises to $6.90.

FORECAST
Moelis forecasts a full year FY26 dividend of 18.00 cents and EPS of 37.10 cents.
Moelis forecasts a full year FY27 dividend of 18.00 cents and EPS of 39.40 cents.
Access Extra Coverage Research History >

NWH STOCK CHART

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1
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Rudi’s View: Positives From February Results

Feb 26 2026 - Rudi's View
5
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Feb 25 2026 - Commodities

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