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

PLS Group is a global lithium producer with mining, processing and battery-materials interests and strategic partnerships.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.23

23 Jul
2026

0.080

OPEN

$4.24

1.93%

HIGH

$4.37

26,535,416

LOW

$4.20

TARGET
$5.593 32.2% upside
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 18.1 xxx
DPS (cps) xxx 0.0 2.8 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 22.9 xxx
Dividend Yield xxx N/A 0.7% xxx
Div Pay Ratio(%) xxx N/A 15.7% 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

0.4

No. Of Recommendations

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

Citi

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

17/07/2026

3

Upgrade to Hold from Trim

$4.80

13.48%

Morgans believes the recent sell-off in lithium equities has restored valuation support, with the weakness reflecting higher near-term supply expectations rather than deteriorating demand.

The broker notes spodumene prices have retreated from almost US$3,000/t in May to around US$2,200/t. It is felt demand remains resilient.

Capital expenditure forecasts have increased across the sector as producers accelerate growth spending. While this will weigh on near-term free cash flow, Morgans expects it to support higher production and lower unit costs over time.

The broker upgrades Pilbara Minerals to Hold from Trim after lowering its target by -60c to $4.80 due largely to a lower assumed valuation multiple.

FORECAST
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 18.50 cents.
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 37.00 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$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

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

-38.53%

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: Pre-August Picks In Resources, Retail & Small Caps

Jul 23 2026 - Rudi's View
2
Material Matters: Deep Dive Into Lithium Pullback

Jul 21 2026 - Commodities
3
Weekly Ratings, Targets, Forecast Changes – 17-07-26

Jul 20 2026 - Weekly Reports
4
Rudi’s View: July’s Stock Pickers’ Favourites

Jul 09 2026 - Rudi's View
5
FY26 In Review: Up Thanks To Miners & Dividends

Jul 07 2026 - Australia

Latest New Battery Elements News

1
Material Matters: Deep Dive Into Lithium Pullback

Jul 21 2026 - Commodities
2
Elevra Lithium Building Platform For Growth

Jul 20 2026 - Commodities
3
Lithium Enthusiasts Discover Wildcat Resources

Jun 17 2026 - Commodities
4
Why Is PLS Still Heavily Shorted?

Apr 30 2026 - Commodities
5
Liontown Ramps Up As Lithium Price Recovers

Mar 17 2026 - Commodities
6
Australia’s Renewable Energy Supply Chain: Who’s Really Making Money?

Jan 15 2026 - ESG Focus
7
Are Markets Ready For Today’s Model-T Moment?

Nov 24 2025 - Australia
8
Valuation vs Sentiment For Pilbara Minerals

Oct 28 2025 - Commodities
9
Roaring Twenties 2.0: AI & Clean-Energy Transformations Shaping Global Markets

Aug 11 2025 - International
10
Lithium’s Bringing Excitement Back

Jul 24 2025 - Technicals