SERVICE STREAM LIMITED (SSM)
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SSM

SSM - SERVICE STREAM LIMITED

FNArena Sector : Industrial Sector Contractors & Engineers
Year End: June
GICS Industry Group : Capital Goods
Debt/EBITDA: 0.58
Index: ASX300 | ALL-ORDS

Service Stream is an Australian provider of services to the telecommunication and utilities industries. Services include design and construction of networks, renewable energy infrastructure and environmental services for utilities. It listed in 2004.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.08

01 Sep
2025

0.000

OPEN

$2.08

0.000

HIGH

$2.08

0

LOW

$2.08

TARGET
$2.407 15.7% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
3DA . ALQ . AVD . BOL . BSA . CG1 . CLG . CVL . CWY . CXL . DOW . DUR . EGL . FLC . IPG . LBL . MAD . PPK . RWL . SDV . SHA . SND . SYL . VEE . VNT . VYS .
FNARENA'S MARKET CONSENSUS FORECASTS
SSM: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 9.7 11.9 xxx
DPS (cps) xxx 5.5 6.2 xxx
EPS Growth xxx 84.0% 22.8% xxx
DPS Growth xxx 22.2% 12.1% xxx
PE Ratio xxx N/A 17.5 xxx
Dividend Yield xxx N/A 3.0% xxx
Div Pay Ratio(%) xxx 56.9% 52.0% xxx

Dividend yield today if purchased 3 years ago: 7.53%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.64

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: 18/09 - ex-div 2.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx9.7
DPS All xxxxxxxxxxxxxxx5.5
Sales/Revenue xxxxxxxxxxxxxxx2,326.5 M
Book Value Per Share xxxxxxxxxxxxxxx83.7
Net Operating Cash Flow xxxxxxxxxxxxxxx135.0 M
Net Profit Margin xxxxxxxxxxxxxxx2.54 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx11.92 %
Return on Invested Capital xxxxxxxxxxxxxxx10.37 %
Return on Assets xxxxxxxxxxxxxxx5.65 %
Return on Equity xxxxxxxxxxxxxxx11.92 %
Return on Total Capital xxxxxxxxxxxxxxx12.25 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx95.9 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx24 M
Long Term Debt xxxxxxxxxxxxxxx53 M
Total Debt xxxxxxxxxxxxxxx77 M
Goodwill - Gross xxxxxxxxxxxxxxx299 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx74 M
Price To Book Value xxxxxxxxxxxxxxx2.37

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx13.1 M
Capex % of Sales xxxxxxxxxxxxxxx0.56 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,145 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx109 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx11 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

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Citi

21/08/2025

1

Buy

$2.45

17.79%

Citi notes Service Stream's FY25 revenue missed its forecast and the consensus due to lower-than-expected Telco contribution. On the positive side, underlying EBITDA was a beat due mainly due to margin of 6% which was 20bps higher than expected.

Margin performance in 2H was the highlight, strengthening the broker's conviction Utilties can deliver 5% margin in FY26 vs 4.5% in FY25, with upside risk. Transport margin is expected to 7-8% vs 7% in FY25.

Overall, group margin is forecast to rise to 6.3%, leading a to 3% increase in the broker's FY26 EBITDA estimate.

Buy. Target rises to $2.45 from $2.35.

The broker added an upside catalyst watch on the stock for the next 6 weeks or so.

FORECAST
Citi forecasts a full year FY26 dividend of 6.00 cents and EPS of 12.10 cents.
Citi forecasts a full year FY27 dividend of 7.00 cents and EPS of 13.10 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxx xx xxxxxxxxxx xxxx xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

25/08/2025

1

Buy

$2.32

11.54%

Canaccord Genuity assesses Service Stream's FY25 result as strong with revenue and underlying EBITDA meeting its forecast, and supported by improved profitability across all units. 

Utilities business margin improved to 4.5% and the broker expects it to a key FY26 earnings driver with a $30bn total addressable market.

The company finished FY25 with record $7.6bn work in hand, of which $3.3bn was in highest-margin telecommunications business.

Modest revisions to forecasts. Buy. Target rises to $2.32 from $2.25.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 6.50 cents and EPS of 11.70 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 7.50 cents and EPS of 12.70 cents.
Access Extra Coverage Research History >

SSM STOCK CHART

FNArena News on SSM

1
Australian Broker Call *Extra* Edition – Aug 25, 2025

Aug 25 2025 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 22-08-25

Aug 25 2025 - Weekly Reports
3
FNArena Corporate Results Monitor – 21-08-2025

Aug 21 2025 - Australia
4
In Brief: Telix, Service Stream, Reckon & More

Aug 08 2025 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Aug 07, 2025

Aug 07 2025 - Daily Market Reports

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