CLEANAWAY WASTE MANAGEMENT LIMITED (CWY)
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CWY

CWY - CLEANAWAY WASTE MANAGEMENT LIMITED

FNArena Sector : Industrial Sector Contractors & Engineers
Year End: June
GICS Industry Group : Commercial & Professional Services
Debt/EBITDA: 3.21
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Cleanaway Waste Management is an Australian waste management company providing collection, disposal and recycling services to businesses ranging from small to multinational organisations. It listed in 2004 as Transpacific Industries. The current name was adopted in 2015.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.56

27 Aug
2026

0.010

OPEN

$2.59

0.39%

HIGH

$2.59

14,346,579

LOW

$2.55

TARGET
$2.945 15.0% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
CWY: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 4.4 11.5 xxx
DPS (cps) xxx 0.0 10.3 xxx
EPS Growth xxx - 37.4% 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 22.4 xxx
Dividend Yield xxx N/A 4.0% xxx
Div Pay Ratio(%) xxx N/A 90.0% 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: 11/03 - ex-div 3.35c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx4.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx4,299.9 M
Book Value Per Share xxxxxxxxxxxxxxx134.6
Net Operating Cash Flow xxxxxxxxxxxxxxx546.9 M
Net Profit Margin xxxxxxxxxxxxxxx2.29 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx3.25 %
Return on Invested Capital xxxxxxxxxxxxxxx2.00 %
Return on Assets xxxxxxxxxxxxxxx1.43 %
Return on Equity xxxxxxxxxxxxxxx3.25 %
Return on Total Capital xxxxxxxxxxxxxxx5.56 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx134.3 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx123 M
Long Term Debt xxxxxxxxxxxxxxx2,212 M
Total Debt xxxxxxxxxxxxxxx2,335 M
Goodwill - Gross xxxxxxxxxxxxxxx2,735 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx116 M
Price To Book Value xxxxxxxxxxxxxxx1.75

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx326.8 M
Capex % of Sales xxxxxxxxxxxxxxx7.60 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,727 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx290 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx101 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

0.8

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Morgan Stanley

21/08/2026

3

Downgrade to Equal-weight from Overweight

$3.10

21.09%

Cleanaway's FY26 EBIT of $470m was at the midpoint of guidance, with improved returns and a strong contribution from Contract Resources helping offset weakness in Health and Industrial Services.

Morgan Stanley views FY27 as a transitional year, with growth from collections, a recovery in Health and further Contract Resources growth offset by higher IT and Blueprint 2.0 costs.

Management is targeting another $25m of indirect cost savings.

Following EQT Infrastructure's $3.13 per share proposal, the broker expects the stock to trade more on the potential transaction than fundamentals.

Morgan Stanley downgrades to Equal-weight from Overweight and raises the target to $3.10 from $2.91, reflecting the offer price less the 3.5c final dividend.

Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY27 dividend of 7.30 cents and EPS of 10.70 cents.
Morgan Stanley forecasts a full year FY28 dividend of 8.20 cents and EPS of 12.10 cents.

UBS

xx/xx/xxxx

1

xxx

$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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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

24/08/2026

1

Buy

$3.25

26.95%

Cleanaway Waste Management reported FY26 financial results that included total revenue of $4,371m and underlying EBIT of $470m.

For FY27, management guided underlying EBIT to a range of $500m to $530m alongside net interest expense of approximately $170m.

The broker's estimates indicate that this guidance points to minor consensus Core NPAT downgrades of -4% to -5% for FY27.

Return on invested capital continued to improve with a 60 basis point increase on FY25 levels, closing the gap to the broker's weighted average cost of capital.

Supported by an ongoing M&A proposal from EQT Infrastructure, Jarden maintains a Buy recommendation with a target price of $3.25.

FORECAST
Jarden forecasts a full year FY27 dividend of 7.10 cents and EPS of 10.50 cents.
Jarden forecasts a full year FY28 dividend of 7.50 cents and EPS of 11.20 cents.
Access Extra Coverage Research History >

CWY STOCK CHART

FNArena News on CWY

1
Australian Broker Call *Extra* Edition – Aug 24, 2026

Aug 24 2026 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 21-08-26

Aug 24 2026 - Weekly Reports
3
FNArena Corporate Results Monitor – 21-08-2026

Aug 21 2026 - Australia
4
Rudi’s View: That’s The Way Markets Crumble

Aug 06 2026 - Rudi's View
5
Rudi’s View: Final Preparations For August

Aug 05 2026 - Rudi's View

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