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: 1.31
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.535

05 Sep
2025

-0.005

OPEN

$0.54

-0.93%

HIGH

$0.54

27,058

LOW

$0.54

TARGET
$0.80 49.5% upside
FNARENA'S MARKET CONSENSUS FORECASTS
BWN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 4.7 4.7 xxx
DPS (cps) xxx 0.5 1.0 xxx
EPS Growth xxx 100.0% 0.6% xxx
DPS Growth xxx N/A 100.0% xxx
PE Ratio xxx N/A 11.3 xxx
Dividend Yield xxx N/A 1.9% xxx
Div Pay Ratio(%) xxx 10.7% 21.3% 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 20212022202320242025
EPS Basic xxxxxxxxxxxx4.7
DPS All xxxxxxxxxxxx0.5
Sales/Revenue xxxxxxxxxxxx283.0 M
Book Value Per Share xxxxxxxxxxxx61.0
Net Operating Cash Flow xxxxxxxxxxxx35.8 M
Net Profit Margin xxxxxxxxxxxx4.41 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 20212022202320242025
Return on Capital Employed xxxxxxxxxxxx10.16 %
Return on Invested Capital xxxxxxxxxxxx7.94 %
Return on Assets xxxxxxxxxxxx4.35 %
Return on Equity xxxxxxxxxxxx10.16 %
Return on Total Capital xxxxxxxxxxxx11.01 %
Free Cash Flow ex dividends xxxxxxxxxxxx-2.5 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 20212022202320242025
Short-Term Debt xxxxxxxxxxxx37 M
Long Term Debt xxxxxxxxxxxx29 M
Total Debt xxxxxxxxxxxx66 M
Goodwill - Gross xxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxx16 M
Price To Book Value xxxxxxxxxxxx0.83

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 20212022202320242025
Capex xxxxxxxxxxxx38.4 M
Capex % of Sales xxxxxxxxxxxx13.55 %
Cost of Goods Sold xxxxxxxxxxxx251 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxx10 M
Research & Development xxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxx1 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

01/09/2025

1

Buy, High Risk

$0.80

49.53%

Bhagwan Marine's FY25 result highlights to Shaw and Partners momentum in oil and gas decommissioning, with four projects completed since Thevenard Island in 2024.

This work strengthens Bhagwan's presence in Australian marine services and supports medium-term revenue growth, suggests the analyst.

The broker points to rising day rates, strong demand, and tight vessel supply as drivers of future margin expansion, with lessons from the Thevenard project expected to lift profitability.

FY26 guidance is positive for pricing and utilisation, according to Shaw, with opportunities in Barrow Island decommissioning and offshore LNG projects such as Scarborough and Barossa. Sustaining capex guidance increased.

Shaw retains a Buy, High Risk rating and target price of 80c.

FORECAST
Shaw and Partners forecasts a full year FY26 dividend of 1.00 cents and EPS of 4.70 cents.
Shaw and Partners forecasts a full year FY27 dividend of 1.50 cents and EPS of 5.90 cents.
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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

15.89%

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 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
FNArena Corporate Results Monitor – 01-09-2025

Sep 01 2025 - Australia
2
Australian Broker Call *Extra* Edition – Jun 04, 2025

Jun 04 2025 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – May 19, 2025

May 19 2025 - Daily Market Reports