PLS GROUP LIMITED (PLS)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

PLS

PLS - PLS GROUP LIMITED

FNArena Sector : New Battery Elements
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 8.8
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.25

26 Feb
2026

0.400

OPEN

$5.05

8.25%

HIGH

$5.26

56,032,789

LOW

$5.00

TARGET
$4.85 -7.6% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
A11 . A4N . AGY . ASN . BKT . BSX . CXO . DLI . ELV . EMN . GL1 . GLN . GT1 . INR . LEL . LKE . LTR . NMT . NVX . PSC . RNU . SRL . SYR . TLG . VR8 . VUL . WC8 . WIN . WR1 .
FNARENA'S MARKET CONSENSUS FORECASTS
PLS: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 6.3 12.8 xxx
DPS (cps) xxx 0.0 1.2 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 40.7 xxx
Dividend Yield xxx N/A 0.2% xxx
Div Pay Ratio(%) xxx N/A 9.4% 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: 05/09 - ex-div 14c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-6.3
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx768.9 M
Book Value Per Share xxxxxxxxxxxxxxx109.7
Net Operating Cash Flow xxxxxxxxxxxxxxx110.6 M
Net Profit Margin xxxxxxxxxxxxxxx-25.46 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-5.78 %
Return on Invested Capital xxxxxxxxxxxxxxx-4.99 %
Return on Assets xxxxxxxxxxxxxxx-4.36 %
Return on Equity xxxxxxxxxxxxxxx-5.78 %
Return on Total Capital xxxxxxxxxxxxxxx-3.65 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-524.2 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 xxxxxxxxxxxxxxx39 M
Long Term Debt xxxxxxxxxxxxxxx644 M
Total Debt xxxxxxxxxxxxxxx682 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx980 M
Price To Book Value xxxxxxxxxxxxxxx1.22

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx654.3 M
Capex % of Sales xxxxxxxxxxxxxxx85.11 %
Cost of Goods Sold xxxxxxxxxxxxxxx840 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx75 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx80 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

0.4

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Bell Potter

20/02/2026

3

Hold

$4.60

-12.38%

PLS Group announced 1H26 underlying EBITDA of $253m, slightly below Bell Potter's expectations, with NPAT of $33m impacted by non-recurring costs linked to the mid-stream demonstration plant and the P-PLS joint venture.

The broker highlights operating cash flow of $180m, period-end cash of $924m and net cash of $234m, with no dividend declared to preserve balance sheet strength.

The Board has approved the restart of the circa 200ktpa Ngungaju plant from July 2026 following a two-year offtake agreement with Canmax, while FY26 operating costs are now expected toward the upper end of guidance.

 Progress on P2000 and Colina feasibility studies and the restructuring of the mid-stream arrangement with Calix are all in place, commentary notes.

Bell Potter retains Hold and keeps its target price at $4.60, while EPS estimates are cut by -10% in FY26 and -2% in FY27.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 2.00 cents and EPS of 11.90 cents.
Bell Potter forecasts a full year FY27 dividend of 5.00 cents and EPS of 19.00 cents.

Morgans

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Ord Minnett

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Jarden

05/02/2026

3

Neutral

$2.50

-52.38%

PLS Group will consider the restart of Ngungaju in the current quarter. The 200,000tpa concentrator was idled in December 2024. Jarden expects first production in early FY27, estimating that up to around 12% of global supply is currently idle and a further 3-4% constrained by geopolitics.

The broker retains a view that the current lithium prices will reduce the imminent return of idle capacity and put a ceiling on the price rally. 

PLS Group's balance sheet retains a key strategic advantage versus the majority of its peers which are significantly geared. Neutral rating. Target rises to $2.50 from $2.40.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 11.90 cents.
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 8.30 cents.
Access Extra Coverage Research History >

PLS STOCK CHART

FNArena News on PLS

1
Australian Broker Call *Extra* Edition – Feb 25, 2026

Feb 25 2026 - Daily Market Reports
2
FNArena Corporate Results Monitor – 20-02-2026

Feb 20 2026 - Australia
3
Australian Broker Call *Extra* Edition – Feb 17, 2026

Feb 17 2026 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 13-02-26

Feb 16 2026 - Weekly Reports
5
Weekly Ratings, Targets, Forecast Changes – 06-02-26

Feb 09 2026 - Weekly Reports

Latest New Battery Elements News

1
Australia’s Renewable Energy Supply Chain: Who’s Really Making Money?

Jan 15 2026 - ESG Focus
2
Are Markets Ready For Today’s Model-T Moment?

Nov 24 2025 - Australia
3
Valuation vs Sentiment For Pilbara Minerals

Oct 28 2025 - Commodities
4
Roaring Twenties 2.0: AI & Clean-Energy Transformations Shaping Global Markets

Aug 11 2025 - International
5
Lithium’s Bringing Excitement Back

Jul 24 2025 - Technicals
6
Liontown Resources: Going Underground

Mar 20 2025 - Commodities
7
Material Matters: Lithium’s Debate Continues

Jan 17 2025 - Commodities
8
The Lithium Transition – A Recap Of 2024 & Thoughts On 2025

Jan 13 2025 - Commodities
9
In Brief: Lithium, Brazilian Rare Earths & Fineos

Oct 18 2024 - Weekly Reports
10
Patriot Battery Minerals: The Long Game

Jul 22 2024 - Commodities