BHAGWAN MARINE LIMITED (BWN)
Share Price Analysis and Chart

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BWN

BWN - BHAGWAN MARINE LIMITED

FNArena Sector : NONE
Year End: June
GICS Industry Group : NONE
Debt/EBITDA: 2.29
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.51

05 Jun
2025

0.000

OPEN

$0.52

0.000

HIGH

$0.52

547,481

LOW

$0.49

TARGET
$0.80 56.9% upside
FNARENA'S MARKET CONSENSUS FORECASTS
BWN: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 2.0 5.0 xxx
DPS (cps) xxx 0.0 0.5 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 10.8 xxx
Dividend Yield xxx N/A 0.9% xxx
Div Pay Ratio(%) xxx N/A 10.0% xxx

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

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
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Title 2021202220232024
EPS Basic xxxxxxxxx2.0
DPS All xxxxxxxxx0.0
Sales/Revenue xxxxxxxxx268.8 M
Book Value Per Share xxxxxxxxx28.4
Net Operating Cash Flow xxxxxxxxx29.0 M
Net Profit Margin xxxxxxxxx2.06 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 2021202220232024
Return on Capital Employed xxxxxxxxx7.80 %
Return on Invested Capital xxxxxxxxx4.63 %
Return on Assets xxxxxxxxx2.36 %
Return on Equity xxxxxxxxx7.80 %
Return on Total Capital xxxxxxxxx10.39 %
Free Cash Flow ex dividends xxxxxxxxx15.4 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 2021202220232024
Short-Term Debt xxxxxxxxx54 M
Long Term Debt xxxxxxxxx39 M
Total Debt xxxxxxxxx94 M
Goodwill - Gross xxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxx1 M
Price To Book Value xxxxxxxxx-

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 2021202220232024
Capex xxxxxxxxx13.6 M
Capex % of Sales xxxxxxxxx5.08 %
Cost of Goods Sold xxxxxxxxx241 M
Selling, General & Admin. Exp & Other xxxxxxxxx11 M
Research & Development xxxxxxxxx-
Investments - Total xxxxxxxxx1 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

Shaw and Partners

05/06/2025

1

Initiation of coverage with Buy

$0.80

56.86%

Shaw and Partners initiated coverage of Bhagwan Marine with a Buy rating and target price of 80c.

The broker believes the marine services provider is well-placed to benefit from vessels shortage, and has several competitive advantages, including strategic locations near key clients and a highly skilled team that includes 200 underwater divers.

The analyst is forecasting $150m revenue in FY25 from oil and gas offshore and subsea services, and $100m from port and in-shore services. The company has a strong balance sheet after raising $80m from IPO, and the broker expects it will start paying dividend in 2H25.

Risks include demand variations in the oil and gas sector, labour challenges and key person risk associated with its founder.

FORECAST
Shaw and Partners forecasts a full year FY25 dividend of 0.50 cents and EPS of 5.00 cents.
Shaw and Partners forecasts a full year FY26 dividend of 1.00 cents and EPS of 5.90 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

Petra Capital

04/06/2025

1

Buy

$0.62

21.57%

Petra Capital forecasts Bhagwan Marine will deliver sustainable earnings growth. The analyst points to rising vessel utilisation, expansion into higher-value vessel classes, and new market opportunities in wind energy, defence and decommissioning.

With vessel supply constrained and long lead times for new builds, Petra anticipates operating leverage and higher margins as utilisation rises from a current circa 60% toward the 85-90% sustainable range.

The broker forecasts return on average capital employed (ROACE) will grow to 13% by 2027 from 11% in 2024, and a maiden dividend will be paid in 2H25. 

No changes have been made to financial forecasts. Petra Capital maintains a Buy rating and a 62c target price.

FORECAST
Petra Capital forecasts a full year FY25 dividend of 0.50 cents and EPS of 5.00 cents.
Petra Capital forecasts a full year FY26 dividend of 1.50 cents and EPS of 4.90 cents.
Access Extra Coverage Research History >

BWN STOCK CHART

FNArena News on BWN

1
Australian Broker Call *Extra* Edition – Jun 04, 2025

Jun 04 2025 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – May 19, 2025

May 19 2025 - Daily Market Reports