PLS GROUP LIMITED (PLS)
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PLS

PLS - PLS GROUP LIMITED

FNArena Sector : New Battery Elements
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.11
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

PLS Group is a global lithium producer with mining, processing and battery-materials interests and strategic partnerships.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.15

27 Aug
2026

-0.140

OPEN

$5.09

-2.65%

HIGH

$5.30

25,598,467

LOW

$5.08

TARGET
$5.336 3.6% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
PLS: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 16.3 38.2 xxx
DPS (cps) xxx 5.0 5.4 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx N/A 7.4% xxx
PE Ratio xxx N/A 14.0 xxx
Dividend Yield xxx N/A 1.0% xxx
Div Pay Ratio(%) xxx 30.6% 14.1% xxx

Dividend yield today if purchased 3 years ago: 1.08%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.93

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 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx16.3
DPS All xxxxxxxxxxxxxxx5.0
Sales/Revenue xxxxxxxxxxxxxxx1,938.6 M
Book Value Per Share xxxxxxxxxxxxxxx126.5
Net Operating Cash Flow xxxxxxxxxxxxxxx1,320.1 M
Net Profit Margin xxxxxxxxxxxxxxx27.12 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx13.82 %
Return on Invested Capital xxxxxxxxxxxxxxx11.27 %
Return on Assets xxxxxxxxxxxxxxx9.62 %
Return on Equity xxxxxxxxxxxxxxx13.82 %
Return on Total Capital xxxxxxxxxxxxxxx17.52 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx990.7 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 xxxxxxxxxxxxxxx153 M
Long Term Debt xxxxxxxxxxxxxxx1,079 M
Total Debt xxxxxxxxxxxxxxx1,232 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,290 M
Price To Book Value xxxxxxxxxxxxxxx3.97

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx344.3 M
Capex % of Sales xxxxxxxxxxxxxxx17.76 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,026 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx77 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx125 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

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

Morgans

xx/xx/xxxx

4

xxxxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

25/08/2026

2

Downgrade to Accumulate from Buy

$6.00

16.50%

Higher lithium prices and lower unit costs drove a sharp recovery in PLS Group's FY26 earnings, with revenue rising to $1.9bn and underlying EBITDA reaching $1.1bn, broadly in line with Ord Minnett's expectations.

NPAT was -3% below consensus due to higher D&A, although the fully franked 5c final dividend materially beat the 2.7c expected, supported by a $2.3bn cash balance, the analyst points out.

FY27 production and cost guidance is unchanged, while Ord Minnett remains positive on lithium pricing, with the P2000 FID the next major catalyst.

The broker trims FY27-FY29 EPS forecasts by -0.6%, -2.0% and -3.2%, respectively, retains its $6 target price and downgrades to Accumulate from Buy following the strong share price performance.

FORECAST
Ord Minnett forecasts a full year FY27 dividend of 20.00 cents and EPS of 56.00 cents.
Ord Minnett forecasts a full year FY28 dividend of 10.00 cents and EPS of 15.00 cents.

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

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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%

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Jarden

25/08/2026

4

Underweight

$3.10

-39.81%

Jarden maintains its Underweight recommendation for PLS Group with an unchanged target price of $3.10 following FY26 earnings featuring underlying EBITDA of $1.14bn, which came in slightly below the broker's estimates but in line with consensus.

Underlying NPAT reached $564m, while reported NPAT tallied $526m.

The company took advantage of stronger lithium prices to reinvest in the business, add cash to the balance sheet with $2.3bn in cash holdings, and allocate approximately $161m to shareholder returns via a final dividend of $0.05 per share.

The broker's commentary indicates that cash flow generation was stronger than expected, assisted by a $74m tax refund and a working capital release.

The report highlights that management's bullish commentary points to resilient demand and positions the company to internally fund the expected P2,000 final investment decision.
Access Extra Coverage Research History >

PLS STOCK CHART

FNArena News on PLS

1
Australian Broker Call *Extra* Edition – Aug 27, 2026

Aug 27 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Aug 26, 2026

Aug 26 2026 - Daily Market Reports
3
FNArena Corporate Results Monitor – 25-08-2026

Aug 25 2026 - Australia
4
Australian Broker Call *Extra* Edition – Aug 25, 2026

Aug 25 2026 - Daily Market Reports
5
Rudi’s View: Upside Risk In Crowded Shorts

Aug 12 2026 - Rudi's View

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