CLEANAWAY WASTE MANAGEMENT LIMITED (CWY)
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CWY

CWY - CLEANAWAY WASTE MANAGEMENT LIMITED

FNArena Sector : Industrial Sector Contractors & Engineers
Year End: June
GICS Industry Group : Commercial & Professional Services
Debt/EBITDA: 2.34
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Cleanaway Waste Management is an Australian waste management company providing collection, disposal and recycling services to businesses ranging from small to multinational organisations. It listed in 2005 and the current name was adopted in 2015.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.42

11 Feb
2026

0.000

OPEN

$2.42

0.000

HIGH

$2.44

4,439,960

LOW

$2.39

TARGET
$3.205 32.4% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
CWY: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 7.0 10.4 xxx
DPS (cps) xxx 6.0 7.0 xxx
EPS Growth xxx 0.0% 48.3% xxx
DPS Growth xxx 20.0% 16.2% xxx
PE Ratio xxx N/A 22.9 xxx
Dividend Yield xxx N/A 2.9% xxx
Div Pay Ratio(%) xxx 85.3% 66.9% xxx

Dividend yield today if purchased 3 years ago: 2.22%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.51

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: 12/09 - ex-div 3.2c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic 5.57.14.01.07.07.0
DPS All 4.10.04.94.95.06.0
Sales/Revenue 2,299.8 M2,371.1 M2,969.3 M3,507.1 M3,700.4 M3,788.9 M
Book Value Per Share 125.1127.9127.3132.1134.5136.3
Net Operating Cash Flow 402.7 M425.7 M467.3 M482.6 M543.0 M459.3 M
Net Profit Margin 4.91 %6.13 %2.66 %0.62 %4.23 %4.14 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed 4.38 %5.58 %3.00 %0.78 %5.27 %5.20 %
Return on Invested Capital 3.30 %4.04 %2.01 %0.50 %3.46 %3.39 %
Return on Assets 2.55 %3.08 %1.48 %0.36 %2.52 %2.42 %
Return on Equity 4.38 %5.58 %3.00 %0.78 %5.27 %5.20 %
Return on Total Capital 5.62 %5.97 %4.17 %3.50 %6.75 %7.76 %
Free Cash Flow ex dividends 133.1 M104.1 M115.8 M10.0 M68.5 M49.6 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 70 M77 M101 M98 M110 M215 M
Long Term Debt 996 M996 M1,583 M1,491 M1,622 M1,590 M
Total Debt 1,065 M1,073 M1,684 M1,589 M1,732 M1,805 M
Goodwill - Gross 1,816 M1,852 M2,366 M2,412 M2,442 M2,442 M
Cash & Equivalents - Generic 80 M69 M67 M102 M121 M87 M
Price To Book Value 1.762.061.981.962.062.00

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 209.8 M246.2 M263.0 M385.9 M403.2 M335.1 M
Capex % of Sales 9.12 %10.38 %8.86 %11.00 %10.90 %8.84 %
Cost of Goods Sold 2,002 M2,055 M2,641 M3,142 M3,220 M3,270 M
Selling, General & Admin. Exp & Other 103 M97 M161 M210 M168 M147 M
Research & Development ------
Investments - Total 78 M59 M67 M71 M83 M91 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

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

04/12/2025

1

Overweight

$3.11

28.51%

Morgan Stanley highlights spot and volatility prices have fallen year-on-year despite higher electricity demand and ongoing coal unit outages. The pipeline of new renewable and storage capacity is materially larger than most investors appreciate, in the analysts' view.

The broker notes retail electricity tariffs are likely to face downward pressure ahead of FY27 Default Market Offer changes, although companies are expected to offset impacts through cost reduction and reduced discounting.

The broker's order of preference for stocks under coverage in the Australian Utilities space are: Cleanaway Waste Management, AGL Energy ((AGL)) and Origin Energy ((ORG)).

For Cleanaway Waste Management, Morgan Stanley has an Overweight rating and target price of $3.11. Industry View: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 7.00 cents and EPS of 9.40 cents.
Morgan Stanley forecasts a full year FY27 dividend of 7.50 cents and EPS of 11.20 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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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

27/01/2026

2

Overweight

$3.00

23.97%

Cleanaway Waste Management is expected to report steady earnings, supported by pricing outcomes and improved cost recovery, despite softer volumes across construction-exposed waste streams, according to Jarden.

The broker notes margin resilience is being driven by disciplined pricing, contract repricing and easing labour and fuel cost pressures, which are offsetting volume weakness in C&D and industrial waste.

FY26 guidance is anticipated to be maintained, with investors focused on free cash flow conversion and balance sheet discipline following recent capex and acquisition activities.

No changes to EPS forecasts. Overweight rating and $3 target are retained.

FORECAST
Jarden forecasts a full year FY26 dividend of 7.30 cents and EPS of 10.80 cents.
Jarden forecasts a full year FY27 dividend of 8.50 cents and EPS of 12.50 cents.
Access Extra Coverage Research History >

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