Austal Limited (ASB.AX): Updating our model

研报英文原文证据摘录

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.