SYRAH RESOURCES LIMITED (SYR)
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SYR

SYR - SYRAH RESOURCES LIMITED

FNArena Sector : New Battery Elements
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: -3.76
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.155

20 Mar
2026

-0.010

OPEN

$0.16

-6.06%

HIGH

$0.17

5,956,427

LOW

$0.16

TARGET
$0.50 222.6% upside
Franking for last dividend paid out: 0%
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FNARENA'S MARKET CONSENSUS FORECASTS
SYR: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) - 15.6 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio N/A xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) N/A xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

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
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-19.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx47.8 M
Book Value Per Share xxxxxxxxxxxxxxx56.8
Net Operating Cash Flow xxxxxxxxxxxxxxx-122.6 M
Net Profit Margin xxxxxxxxxxxxxxx-392.42 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-33.04 %
Return on Invested Capital xxxxxxxxxxxxxxx-27.76 %
Return on Assets xxxxxxxxxxxxxxx-17.49 %
Return on Equity xxxxxxxxxxxxxxx-33.04 %
Return on Total Capital xxxxxxxxxxxxxxx-14.41 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-159.1 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx240 M
Long Term Debt xxxxxxxxxxxxxxx196 M
Total Debt xxxxxxxxxxxxxxx436 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx141 M
Price To Book Value xxxxxxxxxxxxxxx0.34

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx36.5 M
Capex % of Sales xxxxxxxxxxxxxxx76.38 %
Cost of Goods Sold xxxxxxxxxxxxxxx157 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx36 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

Macquarie

29/01/2026

1

Outperform

$0.50

222.58%

Macquarie downgrades Syrah Resources' target by -29% to 50c due to a more subdued near-term earnings outlook post the 4Q2025 result, which saw production up 2% and sales down -3%, with pricing missing consensus forecasts by -26% due to product mix changes.

Graphite production came in at 34.4kt, meeting consensus expectations, and recovery rose to 76% from 68% in the prior quarter.

The analyst lowers EPS forecasts by -48% for 2025 and -171% for 2026.

No change to the Outperform rating, as Syrah remains one of the world's largest natural graphite operations.

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -15.61 cents.
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -2.42 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

18/03/2026

3

Downgrade to Neutral from Overweight

$0.30

93.55%

Jarden lowers its target for Syrah Resources to 30c from 34c and downgrades to Neutral from Overweight.

The company faces a weaker outlook, the broker suggests, after the US International Trade Commission (ITC) ruled against duties on Chinese active anode material (AAM) imports, removing a key expected catalyst.

The broker highlights anti-dumping duties and countervailing duties rates of at least 160% will not proceed, reducing confidence in durable trade protection.

Increased risk to commercial agreements is envisaged, with Tesla’s offtake now vulnerable amid a shift in negotiating leverage.

The analysts see downside risks rising from ongoing cash burn, delayed Vidalia sales, and potential equity dilution.

FORECAST
Jarden forecasts a full year FY25 EPS of minus -13.64 cents.
Jarden forecasts a full year FY26 EPS of minus -6.20 cents.
Access Extra Coverage Research History >

SYR STOCK CHART

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Australian Broker Call *Extra* Edition – Feb 02, 2026

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