PLS GROUP LIMITED (PLS)
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PLS

PLS - PLS GROUP LIMITED

FNArena Sector : New Battery Elements
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.11
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

PLS Group is a global lithium producer with mining, processing and battery-materials interests and strategic partnerships.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.83

05 Nov
2026

0.230

OPEN

$2.75

8.85%

HIGH

$2.87

37,681,459

LOW

$2.74

TARGET
$4.407 55.7% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
PLS: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 16.3 23.3 xxx
DPS (cps) xxx 5.0 2.1 xxx
EPS Growth xxx N/A 42.6% xxx
DPS Growth xxx N/A - 57.7% xxx
PE Ratio xxx N/A 12.2 xxx
Dividend Yield xxx N/A 0.7% xxx
Div Pay Ratio(%) xxx 30.6% 9.1% xxx

Dividend yield today if purchased 3 years ago: 1.36%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.77

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: 02/09 - ex-div 5.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx16.3
DPS All xxxxxxxxxxxxxxx5.0
Sales/Revenue xxxxxxxxxxxxxxx1,938.6 M
Book Value Per Share xxxxxxxxxxxxxxx126.5
Net Operating Cash Flow xxxxxxxxxxxxxxx1,320.1 M
Net Profit Margin xxxxxxxxxxxxxxx27.12 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx13.82 %
Return on Invested Capital xxxxxxxxxxxxxxx11.27 %
Return on Assets xxxxxxxxxxxxxxx9.62 %
Return on Equity xxxxxxxxxxxxxxx13.82 %
Return on Total Capital xxxxxxxxxxxxxxx17.52 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx990.7 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 xxxxxxxxxxxxxxx153 M
Long Term Debt xxxxxxxxxxxxxxx1,079 M
Total Debt xxxxxxxxxxxxxxx1,232 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,290 M
Price To Book Value xxxxxxxxxxxxxxx3.97

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx344.3 M
Capex % of Sales xxxxxxxxxxxxxxx17.76 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,026 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx77 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx125 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

0.8

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

29/10/2026

1

Outperform

$4.50

59.01%

PLS Group's 1Q27 production of 267.6kt beat consensus by 6%, while unit costs were -11% below expectations, Macquarie highlights.

The Ngungaju restart reached full capacity by the end of October. Improved ore quality and sorting are assisting Pilgan production.

The Fortescue ((FMG)) power purchase agreement is viewed positively, reducing P2000's forecast average operating costs by -$15/t–$20/t over ten years, although the agreement requires additional capital expenditure.

Spodumene price forecasts are downgraded by -31%–36% over the four quarters to September 2027, averaging US$1,255/t.

The broker also flags a potential -$88m negative provisional pricing adjustment on September-quarter sales following the recent lithium price decline.

FY27–FY29 EPS forecasts are cut by -29%–69%, reflecting weaker lithium price assumptions. Outperform retained with a lower target of $4.50 from $5.25.

FORECAST
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of 7.60 cents.
Macquarie forecasts a full year FY28 dividend of 0.00 cents and EPS of 7.10 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

02/11/2026

4

Underweight

$2.90

2.47%

Jarden maintains an Underweight rating for PLS Group with its target price reduced to $2.90 from $3.00 following a September quarter update featuring record production of 268kt alongside shipments impacted by port congestion.

Jarden lowers its FY27 SC6 forecast to US$1,750/t from US$2,000/t, which drives a -20% reduction in FY27 EBITDA estimates.

The analyst highlights that while a new 20-year power purchase agreement from FMG cuts unit costs, the stock trades in line with net present value alongside elevated execution risk and minimal free cash flow across FY27-FY29.
Access Extra Coverage Research History >

PLS STOCK CHART

FNArena News on PLS

1
Sold Off PLS Shares Ready To Rally

Nov 03 2026 - Technicals
2
Australian Broker Call *Extra* Edition – Nov 02, 2026

Nov 02 2026 - Daily Market Reports
3
Rudi’s View: High Conviction ASX Opportunities

Oct 29 2026 - Rudi's View
4
Next Week At A Glance – 26-30 Oct 2026

Oct 23 2026 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Oct 23, 2026

Oct 23 2026 - Daily Market Reports

Latest New Battery Elements News

1
Sold Off PLS Shares Ready To Rally

Nov 03 2026 - Technicals
2
Solid Support Underpins Core Lithium’s Rally

Sep 15 2026 - Technicals
3
Material Matters: Deep Dive Into Lithium Pullback

Jul 21 2026 - Commodities
4
Elevra Lithium Building Platform For Growth

Jul 20 2026 - Commodities
5
Lithium Enthusiasts Discover Wildcat Resources

Jun 17 2026 - Commodities
6
Why Is PLS Still Heavily Shorted?

Apr 30 2026 - Commodities
7
Liontown Ramps Up As Lithium Price Recovers

Mar 17 2026 - Commodities
8
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Jan 15 2026 - ESG Focus
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