SKS TECHNOLOGIES GROUP LIMITED (SKS)
Share Price Analysis and Chart

27/08/2025

2

Downgrade to Accumulate from Buy

$3.15

-22.98%

Unpacking the broader FY25 results for SKS Technologies after the company pre-reported headline metrics, Morgans notes the earnings report was broadly in line with expectations.

The analyst points to two surprises: a much higher than expected 2H25 dividend of 5c versus an estimated 1.5c, and FY26 revenue guidance of $300m, ahead of prior forecasts.

The upgrade in guidance results in the analyst lifting FY26–FY27 forecasts by 5%. Work in hand remains solid at $207m, with 72% awarded to data centre projects, and is two times higher than a year ago. The pipeline has advanced by 46% on FY24 to $517.2m.

Data centre work represents around 69% of the pipeline, while traditional work remains strong at circa $159m.

Morgans downgrades SKS Technologies to Accumulate from Buy, with the target price raised to $3.15 from $2.75.

FORECAST
Morgans forecasts a full year FY26 dividend of 3.10 cents and EPS of 15.00 cents.
Morgans forecasts a full year FY27 dividend of 3.50 cents and EPS of 17.00 cents.

02/09/2025

1

Overweight

$3.14

-23.23%

Having previously disclosed key FY25 numbers, Wilsons notes the focus of SKS Technologies' FY25 result was guidance, outlook and pipeline.

The FY26 revenue guidance of $300m was in line with the broker's forecast and slightly above consensus. Work in hand was $200m, covering 67% of the FY26 guidance.

The company flagged significant and accelerating growth forecasts in the data centre sector, driving rapidly accelerating pipeline growth. The broker estimates FY26 revenue to rise 18% y/y to $310m, with a further 11% increase in FY27.

Overweight. Target rises to $3.14 from $2.91.

FORECAST
Wilsons forecasts a full year FY26 dividend of 7.40 cents and EPS of 16.50 cents.
Wilsons forecasts a full year FY27 dividend of 8.40 cents and EPS of 18.70 cents.