MACMAHON HOLDINGS LIMITED (MAH)
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MAH

MAH - MACMAHON HOLDINGS LIMITED

FNArena Sector : Mining Sector Contracting
Year End: June
GICS Industry Group : Capital Goods
Debt/EBITDA: 1.18
Index: ASX300 | ALL-ORDS

Macmahon Holdings is an Australian mining and construction services company. Founded in 1963, the company became a listed entity in 1983.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.04

25 Aug
2026

-0.010

OPEN

$1.06

-0.95%

HIGH

$1.07

3,261,642

LOW

$1.03

TARGET
$0.75 -27.9% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . DNL . DOW . EHL . GNG . IMD . IPG . LBL . LYL . MAD . MIN . MLG . MND . MSV . MYE . NWH . ORI . PRN . RAN . RCR . SGH . SRG . SXE . TEA . VBC . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
MAH: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 3.5 N/A xxx
DPS (cps) xxx 1.5 N/A xxx
EPS Growth xxx 37.2% N/A xxx
DPS Growth xxx 42.9% N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx 43.2% N/A xxx

Dividend yield today if purchased 3 years ago: 9.68%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.44

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: 19/03 - ex-div 0.95c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx4.7
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx2,619.2 M
Book Value Per Share xxxxxxxxxxxxxxx34.5
Net Operating Cash Flow xxxxxxxxxxxxxxx300.8 M
Net Profit Margin xxxxxxxxxxxxxxx3.86 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx14.12 %
Return on Invested Capital xxxxxxxxxxxxxxx9.50 %
Return on Assets xxxxxxxxxxxxxxx5.75 %
Return on Equity xxxxxxxxxxxxxxx14.12 %
Return on Total Capital xxxxxxxxxxxxxxx16.04 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx114.9 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 xxxxxxxxxxxxxxx61 M
Long Term Debt xxxxxxxxxxxxxxx359 M
Total Debt xxxxxxxxxxxxxxx421 M
Goodwill - Gross xxxxxxxxxxxxxxx40 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx310 M
Price To Book Value xxxxxxxxxxxxxxx2.77

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx145.8 M
Capex % of Sales xxxxxxxxxxxxxxx5.57 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,052 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx385 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx53 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

0.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

31/03/2026

3

Initiation of coverage with Hold

$0.75

-27.88%

Ord Minnett is expanding its coverage of mining services, engineering and construction contractors and initiates coverage of MacMahon Holdings with a Hold rating and $0.75 target.

The broker observes the business performance has been "getting better" although it faces higher risks relative to others in the sector from its greater exposure to oil prices and supply constraints.

The contractor has continued to pivot towards underground mining and civil engineering versus surface mining work, which is more capital intensive. Surface mining now accounted for just 51% of revenue in the first half of FY26 compared with 90% back in FY18.
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

Canaccord Genuity

23/02/2026

1

Buy

$0.82

-21.15%

Canaccord Genuity raises its target price to $0.82 from $0.49 and retains a Buy rating on Macmahon Holdings following 1H26 results which were broadly in line with expectations.

The broker notes 1H26 EBIT of $91m, up 17% y/y and -2% versus its estimate, with revenue of $1,307m up 11% y/y, while a 0.95c interim dividend was 19% ahead of its 0.8c forecast and cash conversion reached 95%.

Net debt fell -11% on the prior half to $144m despite a one-off -$22m tax payment. The tender pipeline sits at $25.6bn, with $14.4bn expected to be awarded within 12 months.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 2.00 cents and EPS of 5.20 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 2.30 cents and EPS of 5.70 cents.
Access Extra Coverage Research History >

MAH STOCK CHART

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