DALRYMPLE BAY INFRASTRUCTURE LIMITED (DBI)
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DBI

DBI - DALRYMPLE BAY INFRASTRUCTURE LIMITED

FNArena Sector : Infrastructure & Utilities
Year End: December
GICS Industry Group : NONE
Debt/EBITDA: 7.29
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.142

26 Feb
2026

-0.048

OPEN

$5.17

-0.92%

HIGH

$5.19

1,844,624

LOW

$5.10

TARGET
$5.60 8.9% upside
OTHER COMPANIES IN THE SAME SECTOR
AGL . AIA . ALX . APA . CEN . GNE . GNP . MEZ . ORG . SRJ . TCL .
FNARENA'S MARKET CONSENSUS FORECASTS
DBI: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 5.9 20.6 xxx
DPS (cps) xxx 24.6 27.9 xxx
EPS Growth xxx - 64.2% 100.0% xxx
DPS Growth xxx 11.9% 13.2% xxx
PE Ratio xxx N/A 25.0 xxx
Dividend Yield xxx N/A 5.4% xxx
Div Pay Ratio(%) xxx 417.4% 135.3% xxx

Dividend yield today if purchased 3 years ago: 9.81%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.77

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: 12/12 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx5.9
DPS All xxxxxxxxxxxxxxx24.6
Sales/Revenue xxxxxxxxxxxxxxx844.6 M
Book Value Per Share xxxxxxxxxxxxxxx209.1
Net Operating Cash Flow xxxxxxxxxxxxxxx63.3 M
Net Profit Margin xxxxxxxxxxxxxxx3.46 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx2.75 %
Return on Invested Capital xxxxxxxxxxxxxxx0.94 %
Return on Assets xxxxxxxxxxxxxxx0.84 %
Return on Equity xxxxxxxxxxxxxxx2.75 %
Return on Total Capital xxxxxxxxxxxxxxx8.23 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-53.3 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx2,162 M
Total Debt xxxxxxxxxxxxxxx2,162 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx110 M
Price To Book Value xxxxxxxxxxxxxxx2.40

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx164.9 M
Capex % of Sales xxxxxxxxxxxxxxx19.53 %
Cost of Goods Sold xxxxxxxxxxxxxxx588 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx12 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

0.3

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

25/02/2026

3

Downgrade to Neutral from Outperform

$5.45

5.99%

Macquarie increases its target price to $5.45 from $5.33 for Dalrymple Bay Infrastructure and downgrades to Neutral from Outperform due to the recent share price rally.

FY25 earnings (EBITDA) of $294m are in line with the broker's expectation, while profit is lower due to -$103m in debt refinancing break costs.

The company refinanced $1.07bn of debt to lower funding costs and support a higher payout ratio, explains the analyst.

An 8% lift to dividend guidance was a material surprise to Macquarie. The 2026 dividend expectation has risen around 10% to 27.5c and the payout ratio has moved to the upper end of the 60-80% range.

FORECAST
Macquarie forecasts a full year FY26 dividend of 27.50 cents and EPS of 20.60 cents.
Macquarie forecasts a full year FY27 dividend of 31.10 cents and EPS of 23.30 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

0

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
Access Extra Coverage Research History >

DBI STOCK CHART

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