VULCAN STEEL LIMITED (VSL)
Share Price Analysis and Chart

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VSL

VSL - VULCAN STEEL LIMITED

FNArena Sector : Steel & Scrap
Year End: June
GICS Industry Group : No Sector
Debt/EBITDA: 5.08
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$7.19

27 Feb
2026

0.700

OPEN

$6.47

10.79%

HIGH

$7.19

170,919

LOW

$6.35

TARGET
$7.65 6.4% upside
OTHER COMPANIES IN THE SAME SECTOR
BSL . SGM .
FNARENA'S MARKET CONSENSUS FORECASTS
VSL: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 16.1 xxx
DPS (cps) 5.4 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 42.3 xxx
Dividend Yield 0.8% xxx
Div Pay Ratio(%) 33.3% xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

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

Last ex-div: 08/10 - ex-div 3.19c (franking 85%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx10.8
DPS All xxxxxxxxxxxxxxx6.1
Sales/Revenue xxxxxxxxxxxxxxx864.9 M
Book Value Per Share xxxxxxxxxxxxxxx118.1
Net Operating Cash Flow xxxxxxxxxxxxxxx95.7 M
Net Profit Margin xxxxxxxxxxxxxxx1.66 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx9.13 %
Return on Invested Capital xxxxxxxxxxxxxxx2.19 %
Return on Assets xxxxxxxxxxxxxxx1.77 %
Return on Equity xxxxxxxxxxxxxxx9.13 %
Return on Total Capital xxxxxxxxxxxxxxx7.86 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx58.6 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 xxxxxxxxxxxxxxx27 M
Long Term Debt xxxxxxxxxxxxxxx478 M
Total Debt xxxxxxxxxxxxxxx505 M
Goodwill - Gross xxxxxxxxxxxxxxx12 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx16 M
Price To Book Value xxxxxxxxxxxxxxx4.88

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx19.4 M
Capex % of Sales xxxxxxxxxxxxxxx2.25 %
Cost of Goods Sold xxxxxxxxxxxxxxx615 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx197 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

UBS

25/02/2026

1

Buy

$7.65

6.40%

UBS views Vulcan Steel's 1H26 result as "solid" on initial inspection, despite a challenging operating environment. 1H26 earnings (EBITDA) were inline with expectations and consensus, with management offering no quantitative guidance.

Commentary suggests there are some signs of the industry stabilising and recovering, with a higher degree of confidence around a NZ recovery.

The Australian outlook is described as mixed. Some recovery in volumes is expected to carry into 2H26.

Buy. Target $7.65.

FORECAST
UBS forecasts a full year FY26 dividend of 5.37 cents and EPS of 16.12 cents.
UBS forecasts a full year FY27 dividend of 18.80 cents and EPS of 36.71 cents.
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

04/12/2025

3

Neutral

-

-

Jarden observes the Vulcan Steel business is showing early signs of having bottomed and expects a gradual rebound beginning in early 2026.

The broker forecasts 1H26 earnings (EBITDA) of NZ$46.8m (pre-roofing), down -18% year-on-year, with 2H26 set to improve as volumes lift, costs stay contained and margins recover.

Jarden anticipates NZ$72m earnings (pre-roofing) in 2H26, a 38% year-on-year increase, supported by the company's recent roofing acquisition.

Neutral rating and NZ$8.27 target are maintained.

FORECAST
Jarden forecasts a full year FY26 dividend of 28.47 cents and EPS of 47.46 cents.
Access Extra Coverage Research History >

VSL STOCK CHART

FNArena News on VSL

1
FNArena Corporate Results Monitor – 25-02-2026

Feb 25 2026 - Australia
2
Weekly Ratings, Targets, Forecast Changes – 13-02-26

Feb 16 2026 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Dec 04, 2025

Dec 04 2025 - Daily Market Reports
4
In Case You Missed It – BC Extra Upgrades & Downgrades – 14-11-25

Nov 14 2025 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Nov 10, 2025

Nov 10 2025 - Daily Market Reports

Latest Steel & Scrap News

1
Sims Has Further Room To Run

Mar 25 2025 - Technicals
2
Treasure Chest: Sims

May 31 2024 - Treasure Chest
3
ESG Focus: The Little Big Things – 23-11-2023

Nov 23 2023 - ESG Focus
4
Short Term Pain Continues For Sims

Sep 14 2023 - Australia
5
ESG Focus: Green Steel Innovation On Fire

Jun 22 2023 - ESG Focus
6
ESG Focus: Green Steel Rolling In

Jun 15 2023 - ESG Focus
7
BlueScope Steel Undervalued?

Nov 21 2022 - Australia
8
BlueScope Steel Committed To Emissions Targets

Sep 28 2022 - ESG Focus
9
BlueScope Steel Transforms US Operations

Apr 13 2022 - Australia
10
Sims Shines In The Scrap Yard

Feb 16 2022 - Australia