REAL-TIME GLOBAL RESEARCH
Austal Limited (ASB.AX): Updating our model
Research evidence excerpt
Action |
11 Aug 2026 07:53:18 ET │ 14 pages
Austal Limited (ASB.AX)
Updating our model
CITI'S TAKE
We update our forecasts to reflect the FY26 EBIT loss of $113 million which
was announced today. We have left our FY27/FY28 EBIT forecasts
unchanged. New target Price is $5.07 (+13%) reflecting a higher USA
valuation in our SOTP as we are now assuming the midpoint of the offer
range. We upgrade our rating to Neutral.
Neutral ↑ from Sell
Price (11 Aug 26 16:00)
A$4.51
Target price
A$5.07↑
from A$4.50
Expected share price return
12.4%
Expected dividend yield
0.0%
Expected total return
12.4%
Market Cap
A$1,904M
US$1,343M
Sam TeegerAC
Eileen Li
ASB.AU revisions (Y/E Jun)
2024A
2025A
2026E
2027E
2028E
Sales (A$m)
% revision
EBIT (A$m)
% revision
Core Net Profit (A$m)
% revision
Core EPS (A¢)
% revision
EPS Growth (%)
PE Ratio (x)
Dividend Yield (%)
1,468.9
0.0%
58.9
0.0%
17.3
0.0%
4.7
0.0%
225.3
95.0
0.0
1,823.3
0.0%
113.4
0.0%
89.7
0.0%
23.5
0.0%
395.2
19.2
0.0
2,287.1
-0.3%
-113.0
-203.1%
-102.0
-257.3%
-23.9
-257.3%
-201.7
-18.9
0.0
2,891.1
0.0%
149.3
0.0%
102.4
-0.1%
24.1
-0.1%
200.8
18.7
0.0
2,825.8
0.0%
157.8
0.0%
103.2
-0.1%
24.9
-0.1%
3.6
18.1
1.9
Source: Company Reports and dataCentral, Citi Research.
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