PLS GROUP LIMITED (PLS)
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PLS

PLS - PLS GROUP LIMITED

FNArena Sector : New Battery Elements
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 8.8
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.52

12 Jun
2026

0.580

OPEN

$6.17

9.76%

HIGH

$6.52

24,476,261

LOW

$6.12

TARGET
$5.814 -10.8% downside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
PLS: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 6.3 17.3 xxx
DPS (cps) xxx 0.0 2.6 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 37.9 xxx
Dividend Yield xxx N/A 0.4% xxx
Div Pay Ratio(%) xxx N/A 15.0% 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: 05/09 - ex-div 14c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-6.3
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx768.9 M
Book Value Per Share xxxxxxxxxxxxxxx109.7
Net Operating Cash Flow xxxxxxxxxxxxxxx110.6 M
Net Profit Margin xxxxxxxxxxxxxxx-25.46 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-5.78 %
Return on Invested Capital xxxxxxxxxxxxxxx-4.99 %
Return on Assets xxxxxxxxxxxxxxx-4.36 %
Return on Equity xxxxxxxxxxxxxxx-5.78 %
Return on Total Capital xxxxxxxxxxxxxxx-3.65 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-524.2 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 xxxxxxxxxxxxxxx39 M
Long Term Debt xxxxxxxxxxxxxxx644 M
Total Debt xxxxxxxxxxxxxxx682 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx980 M
Price To Book Value xxxxxxxxxxxxxxx1.22

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx654.3 M
Capex % of Sales xxxxxxxxxxxxxxx85.11 %
Cost of Goods Sold xxxxxxxxxxxxxxx840 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx75 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx80 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

0.1

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

26/05/2026

3

Equal-weight

$5.60

-14.11%

Morgan Stanley notes sodium-ion batteries are moving into commercial deployment with its expert analyst envisaging China's sodium-ion deployment rising towards 1,000 gigawatt hours by 2035 and with energy density already around 175Wh/kg making it viable for budget EVs and light trucks.

Sodium-ion is expected to increasingly replace lithium iron phosphate in mass-market applications, and the latter's share in entry-level passenger vehicles falling below 20% by 2031 and sodium-ion rising to 50%.

Equal-weight rating and $5.60 target retained for PLS. Industry view: Attractive.

FORECAST
Morgan Stanley forecasts a full year FY26 EPS of 19.40 cents.
Morgan Stanley forecasts a full year FY27 EPS of 27.00 cents.

Morgans

xx/xx/xxxx

4

xxxxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx xx xxxxxxxxxx xxxx xxx

$xx.xx

(xx/xx/xxxx)

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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

29/04/2026

4

Downgrade to Underweight from Neutral

$2.60

-60.12%

Jarden downgrades PLS Group to an Underweight rating from Neutral on strict valuation discipline, while lifting its target price to $2.60 from $2.50.

Management alluded to elevated capital expenditure extending through FY27 and beyond, prompting the analysts to bring forward the P2,000 expansion project timeline by two years.

Operations delivered a strong March quarter result, driving a 2% upgrade to near-term earnings forecasts.

Despite robust underlying asset quality, commentary highlights the current share price implies an overly optimistic long-term spodumene concentrate price of $2,000 per tonne, far exceeding the broker's $1,200 per tonne assumption.

The analysts consequently view the near-term risk-to-reward dynamic as unfavourable following a period of significant stock outperformance within the broader lithium sector.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 14.90 cents.
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 14.30 cents.
Access Extra Coverage Research History >

PLS STOCK CHART

FNArena News on PLS

1
Rudi’s View: Australia’s Sh*t Sandwich

Jun 04 2026 - Rudi's View
2
Material Matters: EVs, Lithium & Aluminium

May 27 2026 - Commodities
3
Material Matters: Oil, Gold & Lithium

May 20 2026 - Commodities
4
Weekly Ratings, Targets, Forecast Changes – 01-05-26

May 04 2026 - Weekly Reports
5
In Case You Missed It – BC Extra Upgrades & Downgrades – 01-05-26

May 01 2026 - Weekly Reports

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Why Is PLS Still Heavily Shorted?

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2
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Mar 20 2025 - Commodities
9
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Jan 17 2025 - Commodities
10
The Lithium Transition – A Recap Of 2024 & Thoughts On 2025

Jan 13 2025 - Commodities