MLG OZ LIMITED (MLG)
Share Price Analysis and Chart

21/08/2026

1

Speculative Buy

$1.20

42.86%

Morgans maintains a Speculative Buy rating for MLG Oz with its target price unchanged at $1.20 following an FY26 financial result that surpassed expectations across all key earnings metrics.

Revenue grew 4% year-on-year to $561.4m while underlying EBITDA rose 14% to $75.5m and NPAT jumped 34% to $14.5m, reflecting a refreshed strategic focus on prioritising profitability over top-line growth.

Second-half EBITDA margins expanded to 14.1%, approaching management's 15% target and representing the strongest margin performance in recent history.

The broker's estimates reflect minor top-line reductions offset by stronger operational margins, alongside a non-cash loss on sales assumption introduced across the forecast period.

Backed by an optimised haulage portfolio and an expanding civil order book, Morgans concludes the stock offers solid structural growth and compelling upside potential.

FORECAST
Morgans forecasts a full year FY26 dividend of 2.50 cents and EPS of 11.00 cents.
Morgans forecasts a full year FY27 dividend of 3.00 cents and EPS of 12.00 cents.