Monadelphous Group Limited MOPHY

IndustrialsConstruction & EngineeringAustralia

Last close 19.50 USD on Nov 1, 2026, +106.3% year to date

Quant rating

Quant rating B Rank 153 of 418 in Industrials

Growth A 54 of 418
Valuation C 290 of 418
Quality C 250 of 418
Revisions B 103 of 418
Momentum B 123 of 418

Wall Street consensus Hold (2.92)Average target 21.29 USD +9.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 2.1B
Enterprise value: 1.9B
52-week range: 17.16 – 19.50
3-year range: 8.72 – 19.50
Dividend yield: 3.85%
Beta (5 years): –
Shares outstanding: 101M
Next earnings: Feb 21, 2027

About the company

Monadelphous Group Limited is a diversified services company operating in the resources, energy and infrastructure industry sector. The Company provides a range of services, including fabrication, modularization, offsite pre-assembly, procurement and installation of structural steel, tankage, mechanical and process equipment, piping, demolition and remediation works; multidisciplined construction services; plant commissioning; electrical and instrumentation services and engineering, procurement and construction services. It also offers process and non-process maintenance services; front-end scoping, shutdown planning, management and execution; water and wastewater asset construction and maintenance; construction of transmission pipelines and facilities; heavy lift and specialist transport; access solutions; dewatering services; corrosion management services; specialist coatings; rail maintenance services, and structural concrete and associated works.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	1,935	1,423	1,344	1,150	1,249	–
Revenue growth	36.0%	5.9%	16.8%	−7.9%	−5.0%	8.0%
EPS (basic, normalized)	0.90	0.54	0.43	0.35	0.38	–
EPS growth	66.4%	27.6%	20.4%	−6.5%	–	–
Gross margin	8.2%	7.5%	7.1%	7.2%	6.8%	7.4%
Net margin	4.6%	3.9%	3.1%	3.1%	2.9%	3.5%
ROE	23.9%	17.4%	13.8%	12.6%	12.9%	16.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	1,935	+36.0%	1.0x	162	+65.6%	11.9x	0.90	+66.4%	21.6x
2027	2,132	+10.2%	0.9x	164	+1.4%	11.7x	0.92	+1.4%	21.3x
2028	2,232	+4.7%	0.9x	174	+6.0%	11.1x	0.97	+6.0%	20.1x
2029	2,283	+2.3%	0.8x	182	+4.4%	10.6x	1.01	+4.0%	19.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	2,132	0.0%	−0.1%	0.0%	0.92	0.0%	+2.2%	+3.0%
2028	2,232	0.0%	+1.4%	+1.5%	0.97	0.0%	+4.0%	+5.4%
2029	2,283	0.0%	+0.8%	+2.7%	1.01	0.0%	+2.6%	+3.2%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Construction & Engineering

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
MOPHY Monadelphous Group Limited	2.1B	–	4.6%	5.17x	21.3x	20.1x	11.7x	11.1x
ARE Aecon Group Inc.	2.4B	1.49x	0.3%	3.39x	30.5x	21.9x	10.7x	9.0x
IMPJY Webuild SpA	2.3B	–	2.0%	1.16x	13.6x	12.0x	2.5x	2.5x
CTRI Centuri Holdings Inc	2.2B	2.80x	0.8%	2.50x	31.9x	21.6x	10.0x	8.6x
BDGI Badger Infrastructure Solutions Ltd	2.0B	1.69x	7.1%	6.44x	26.3x	21.3x	9.6x	8.3x
NEXT NextDecade Corporation	2.0B	−69.45x	–	17.71x	−3.1x	−6.1x	−89.6x	23.5x
Mean		−15.87x	2.9%	6.06x	20.1x	15.1x	−7.5x	10.5x
Median		1.59x	2.0%	4.28x	23.8x	20.7x	9.8x	8.8x

Technical analysis

1M–
3M0.0%
1Y+106.3%
3Y+162.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Monadelphous Group Limited, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	1,935	1,423	1,344	1,150	1,249	1,315
Cost of revenue	1,775	1,316	1,249	1,068	1,164	1,231
Gross profit	159	107	95.4	82.3	85.2	84.5
Selling, general & administrative expenses	49.5	39.4	39.6	39.6	38.5	40.1
Research & development	–	–	–	–	–	–
Interest expense (income), operating	−8.6	−2.3	1.1	−2.8	1.9	0.1
Unusual expense (income)	−3.5	−1.9	−5.1	−2.0	−3.0	−6.0
Other operating expenses	−2.5	−6.2	−1.5	−1.6	−2.9	−2.4
Operating income	124	78.4	61.3	49.0	50.7	52.8
Net interest income (expense)	–	–	–	–	–	–
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	124	78.4	61.3	49.0	50.7	52.8
Provision for taxes	36.4	23.3	19.8	14.3	14.6	16.4
Minority interest	0	0	0	1.1	0	−1.1
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	88.1	55.1	41.5	35.7	36.0	35.3
Extraordinary items	–	–	–	–	–	–
Net income	88.1	55.1	41.5	35.7	36.0	35.3
EBIT, normalized	112	74.1	57.3	44.2	49.6	41.5
EBITDA, normalized	145	103	83.0	66.3	72.4	66.1
Basic EPS, normalized	0.90	0.54	0.43	0.35	0.38	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Monadelphous Group Limited, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	203	135	151	119	127	132
Receivables	389	323	230	224	273	284
Total inventory	1.4	1.3	1.3	1.0	2.2	2.7
Prepaid expenses	–	–	–	–	–	–
Other current assets	0	0	0	0	0	0
Total current assets	594	459	382	344	402	418
Property, plant & equipment	167	142	155	115	112	122
Goodwill	21.9	9.8	9.9	–	3.4	2.9
Intangibles	5.8	1.7	2.2	10.7	0	0
Long-term investments	18.1	11.4	8.2	9.8	7.7	8.9
Note receivable	10.3	9.3	13.0	15.9	0	4.5
Other long-term assets	35.1	27.9	21.6	14.4	21.4	26.0
Total assets	852	661	592	510	546	583
Liabilities
Accounts payable	123	107	61.1	–	85.2	89.7
Payable/accrued	58.2	48.4	42.6	105	22.6	19.4
Accrued expenses	92.3	68.0	57.0	–	–	–
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	17.3	16.7	18.4	16.3	25.4	17.2
Other current liabilities	127	51.8	52.1	49.1	72.1	91.3
Total current liabilities	418	292	231	170	205	218
Long-term debt	32.5	36.2	44.5	42.8	50.1	56.0
Minority interest	0	0	–	–	0	0
Other liabilities	8.1	6.0	5.5	4.8	6.2	12.5
Total liabilities	458	334	281	218	262	286
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	117	98.8	97.2	94.1	93.9	99.4
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	284	234	218	202	196	202
Treasury stock	–	–	–	–	–	–
Other equity	−6.6	−4.9	−4.5	−4.2	−5.7	−4.9
Total equity	394	328	310	292	284	297
Total liabilities & shareholders' equity	852	661	592	510	546	583

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Monadelphous Group Limited, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	–	–	–	–	–	–
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	–	–	–	–	–
Changes in working capital	14.0	13.9	9.4	7.2	4.5	4.9
Cash from operations	170	53.3	125	62.2	44.8	20.0
Investing activities
Capital expenditures	−26.7	−9.1	−59.3	−12.7	−6.8	−6.1
Other investing cash flows	−0.5	2.9	0.7	−8.8	4.6	3.9
Cash from investing	−27.2	−6.2	−58.6	−21.5	−2.2	−2.2
Financing activities
Financing cash flow items	–	–	–	–	–	–
Cash dividends paid	−57.9	−40.2	−29.5	−28.1	−27.2	−25.3
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−21.1	−18.9	−3.9	−16.4	−10.5	−15.4
Cash from financing	−79.0	−59.1	−33.3	−44.4	−37.7	−40.7
Foreign exchange effects	−2.7	−1.2	−1.6	0.4	0.4	−1.5
Net change in cash	60.8	−13.2	31.7	−3.3	5.3	−24.4
Free cash flow	143	44.2	65.9	49.5	38.0	13.9

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.