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Ampol Limited
(Sydney:ALD)
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Rating:62Neutral
Price Target:
AU$42.00
▼(-0.50% Downside)
Action:Reiterated
Date:08/24/26
The score is held back primarily by weakened recent financial statement trends (thinner margins, lower returns, weaker free cash flow, and higher leverage) and a very high P/E valuation. Offsetting these are constructive technical momentum and a notably positive earnings call featuring record H1 performance and clear near-term operational/strategic catalysts, albeit with acknowledged cyclicality and balance-sheet/cash outflow risks.
Positive Factors
Integrated Supply Chain and Trading Platform
Ampol's combination of import terminals, storage, logistics, trading and distribution supports supply reliability and scale. This integrated footprint can improve sourcing flexibility and reinforce margins across retail, wholesale and commercial fuel channels.
Negative Factors
Declining Revenue and Compressed Profitability
The multi-year revenue decline and sharp margin compression indicate weaker underlying earnings power and substantial exposure to fuel-market cycles. Sustained low margins would reduce resilience and limit funds available for investment or returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated Supply Chain and Trading Platform
Ampol's combination of import terminals, storage, logistics, trading and distribution supports supply reliability and scale. This integrated footprint can improve sourcing flexibility and reinforce margins across retail, wholesale and commercial fuel channels.
Read all positive factors
Ampol Limited (ALD) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$9.69B
Dividend Yield6.03%
Average Volume (3M)1.28M
Price to Earnings (P/E)6.6
Beta (1Y)0.16
Revenue Growth14.94%
EPS GrowthN/A
CountryAU
Employees13,500
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)N/A
Shares Outstanding238,302,100
10 Day Avg. Volume1,741,386
30 Day Avg. Volume1,282,971
Financial Highlights & Ratios
PEG Ratio-2.91
Price to Book (P/B)2.51
Price to Sales (P/S)0.25
P/FCF Ratio109.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$43.50Price Target Upside3.06% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ampol Limited Business Overview & Revenue Model
Company Description
Ampol Limited, founded in 1900 and based in Alexandria, Australia, is a major player in the petroleum industry, engaging in the procurement, refining, distribution, and sale of petroleum products. Its operations span Australia, New Zealand, Singap...
How the Company Makes Money
Ampol primarily makes money by purchasing (and/or importing) refined fuel products and selling them through multiple channels at a margin, while also earning income from convenience retail and associated services.
1) Retail fuel sales (service st...
Ampol Limited Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
55
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.21B | 31.00B | 34.85B | 37.75B | 38.25B | 20.88B |
| Gross Profit | 4.26B | 2.12B | 2.43B | 2.93B | 2.57B | 2.03B |
| EBITDA | 2.97B | 753.20M | 973.80M | 1.50B | 1.49B | 1.19B |
| Net Income | 1.47B | 82.40M | 122.50M | 549.10M | 795.90M | 560.00M |
Balance Sheet | ||||||
| Total Assets | 16.32B | 12.70B | 12.87B | 12.81B | 13.33B | 8.85B |
| Cash, Cash Equivalents and Short-Term Investments | 119.80M | 57.90M | 123.90M | 300.60M | 126.00M | 566.30M |
| Total Debt | 5.32B | 4.21B | 4.08B | 3.69B | 3.61B | 2.26B |
| Total Liabilities | 11.70B | 9.25B | 9.29B | 8.84B | 9.28B | 5.51B |
| Stockholders Equity | 4.20B | 3.04B | 3.16B | 3.56B | 3.63B | 3.07B |
Cash Flow | ||||||
| Free Cash Flow | 343.10M | 69.70M | 229.40M | 972.50M | 541.40M | 310.40M |
| Operating Cash Flow | 898.90M | 752.30M | 915.00M | 1.51B | 948.30M | 634.60M |
| Investing Cash Flow | -1.70B | -610.90M | -688.50M | -535.60M | -1.63B | -313.20M |
| Financing Cash Flow | 843.70M | -204.80M | -405.10M | -779.90M | 266.50M | -126.90M |
Ampol Limited Technical Analysis
Positive
42.21
Price Trends
37.17
Positive
34.99
Positive
32.14
Positive
Market Momentum
1.16
Positive
61.37
Neutral
19.64
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ALD, the sentiment is Positive. The current price of 42.21 is above the 20-day moving average (MA) of 39.62, above the 50-day MA of 37.17, and above the 200-day MA of 32.14, indicating a bullish trend. The MACD of 1.16 indicates Positive momentum. The RSI at 61.37 is Neutral, neither overbought nor oversold. The STOCH value of 19.64 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ALD.
Ampol Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | AU$60.45B | 14.16 | 8.55% | 5.04% | -9.52% | -0.68% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | AU$26.60B | 25.72 | 4.69% | 3.68% | -8.49% | -31.47% | |
63 Neutral | AU$1.96B | 6.96 | 8.74% | 3.45% | -8.77% | ― | |
62 Neutral | AU$9.69B | 6.57 | 40.64% | 6.03% | 14.94% | ― | |
61 Neutral | AU$4.78B | 20.85 | 4.65% | 4.97% | -4.83% | -39.30% | |
52 Neutral | AU$4.75B | 20.71 | 13.81% | 4.00% | -2.13% | ― |
* Energy Sector Average
AU:ALD
Ampol Limited
40.63
12.01
41.96%
AU:BPT
Beach Energy
0.87
-0.28
-24.08%
AU:STO
Santos Limited
8.35
0.95
12.79%
AU:WOR
Worley Limited
10.07
-3.71
-26.90%
AU:VEA
Viva Energy Group Ltd.
2.92
0.99
51.37%
AU:WDS
Woodside Energy Group
32.33
8.84
37.62%
Ampol Limited Corporate Events
Ampol Releases 2026 Half-Year Results Presentation
Aug 23, 2026
Ampol Limited has released its results presentation for the half year ended 30 June 2026, outlining financial and operational highlights for the group and its interests in associates and jointly controlled entities. The presentation is intended to...
Ampol profits surge as robust fuel supply chain and EG Australia deal lift first-half earnings
Aug 23, 2026
Ampol reported a sharp jump in first-half 2026 earnings as its integrated fuel supply chain benefited from market dislocation caused by conflict in the Middle East. Group RCOP EBITDA surged to $1.64 billion and RCOP NPAT to $857 million, underpinn...
Ampol publishes 2026 Half Year Report to market
Aug 23, 2026
Ampol Limited has released its 2026 Half Year Report, incorporating Appendix 4D, to the market, providing investors and stakeholders with financial and operational performance details for the first half of 2026. The report’s publication supp...
Ampol sets date for half-year 2026 results briefing
Aug 16, 2026
Ampol Limited, the Australian fuel and convenience retailer listed on the ASX under ticker ALD, operates a nationwide network supplying transport fuels and related services to consumer, commercial and industrial customers. The group’s downst...
Ampol’s resilient supply chain and Lytton refinery drive earnings surge amid Middle East turmoil
Jul 29, 2026
Ampol reported a sharp rise in first-half 2026 unaudited Group RCOP EBITDA to about $1.6 billion and RCOP EBIT to about $1.35 billion, driven by resilient operations and strong refining economics. The company highlighted that its integrated supply...
Ampol reports lapse of 42,749 performance rights
Jul 9, 2026
Ampol Limited has updated the market on changes to its capital structure, notifying the lapse of 42,749 performance rights that formed part of its equity-based incentive arrangements. The securities ceased on 1 July 2026 after the conditions attac...
Ampol Issues New Unquoted Equity Securities Under Employee Incentive Schemes
Jul 9, 2026
Ampol Limited has notified the market of the issue of new unquoted equity securities under its employee incentive schemes. The company will issue 452,188 performance rights and 129,194 share rights, both dated 1 July 2026, which are not intended t...
Ampol Issues 114,737 New Ordinary Shares Following Security Conversions
Jul 9, 2026
Ampol Limited has notified the ASX of the issue of 114,737 ordinary fully paid shares following the exercise or conversion of previously unquoted securities. The new shares, issued on 1 July 2026, represent a modest increase in the company’s...
Ampol closes EG Australia deal to boost retail scale and earnings
Jul 1, 2026
Ampol has completed the acquisition of EG Group’s Australian business, adding around 480 largely east coast sites, approximately 2 billion litres of annual fuel sales and about 4,200 employees to its network, while expanding its Ampol Foodar...
Ampol secures A$400m delayed‑draw hybrid to fund refinancing
Jun 26, 2026
Ampol has launched a new A$400 million delayed‑draw subordinated notes facility as part of its ongoing capital management strategy, following similar hybrid issues completed in late 2025. The structure allows the company to issue the notes i...
Ampol Issues 203,386 Unquoted Performance Rights Under Employee Incentive Scheme
Jun 5, 2026
Ampol Limited has notified the market of the issue of 203,386 unquoted performance rights under its employee incentive scheme, effective 1 June 2026. The new securities, which will not be quoted on the ASX, form part of the company’s ongoing...
Ampol Scraps Planned Share Issue, Opts for Cash Settlement
Jun 2, 2026
Ampol Limited has notified the ASX that it is cancelling a previously announced proposed issue of securities linked to a placement or other form of capital issuance. The company has chosen to exercise its option to cash settle the scrip component ...
ACCC Clears Ampol’s $1.1bn Cash Acquisition of EG Australia
Jun 2, 2026
Ampol has secured Australian Competition and Consumer Commission approval for its acquisition of EG Australia, subject to a court-enforceable undertaking to divest 41 sites, which will be sold to Metro Petroleum. The deal, now expected to complete...
ACCC Clears Ampol’s EG Australia Takeover With Forced Site Sell-Off
Jun 2, 2026
Australia’s competition regulator has cleared Ampol’s acquisition of EG Australia, a major fuel and convenience retailer, on the condition that Ampol divests 41 fuel retail sites to an approved buyer. The move consolidates Ampol’...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.