Want to see AU:ALQ full AI Analyst Report?
Top Page
ALS
(Sydney:ALQ)
Select Model
Select Model
Rating:62Neutral
Price Target:
AU$23.50
▲(4.96% Upside)
Action:Reiterated
Date:08/19/26
The score is supported primarily by solid underlying financial performance (steady growth, durable operating margins, and improved leverage), but is held back by an expensive valuation (high P/E with modest yield) and a neutral-to-soft technical setup with limited trend momentum.
Positive Factors
Consistent revenue growth
Multi-year revenue growth indicates continued demand across ALS’s testing, inspection and certification activities. Its exposure to environmental, life sciences, food, industrial and commodities customers supports a diversified base of recurring testing needs.
Negative Factors
Earnings volatility
The sharp net-margin contraction followed by recovery shows that below-the-line costs or one-off items can materially affect earnings. This makes reported profitability less predictable and could reduce resilience if another disruption or exceptional charge occurs.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent revenue growth
Multi-year revenue growth indicates continued demand across ALS’s testing, inspection and certification activities. Its exposure to environmental, life sciences, food, industrial and commodities customers supports a diversified base of recurring testing needs.
Read all positive factors
ALS (ALQ) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$11.08B
Dividend Yield1.99%
Average Volume (3M)1.33M
Price to Earnings (P/E)33.0
Beta (1Y)1.35
Revenue Growth10.69%
EPS Growth19.77%
CountryAU
Employees23,342
SectorIndustrials
Sector Strength72
IndustryConsulting Services
Share Statistics
EPS (TTM)0.63
Shares Outstanding507,542,540
10 Day Avg. Volume1,229,484
30 Day Avg. Volume1,327,941
Financial Highlights & Ratios
PEG Ratio1.28
Price to Book (P/B)5.93
Price to Sales (P/S)3.04
P/FCF Ratio43.57
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$24.68Price Target Upside10.21% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)0.89
Revenue Forecast (FY)AU$3.60B
ALS Business Overview & Revenue Model
Company Description
ALS Limited delivers expert technical services globally, specializing in analytical testing, precise measurement, and comprehensive inspection across various sectors. Its operations span continents, encompassing Africa, Asia-Pacific, Europe, the M...
How the Company Makes Money
ALS makes money primarily by charging customers fees for laboratory testing and related professional services delivered through its global network of labs and service centers. Key revenue streams include: (1) Commodities-focused services (often br...
ALS Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
74
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.32B | 3.00B | 2.46B | 2.28B | 1.95B |
| Gross Profit | 1.04B | 2.69B | 2.19B | 828.60M | 693.90M |
| EBITDA | 836.30M | 675.00M | 641.40M | 591.30M | 439.10M |
| Net Income | 318.70M | 256.20M | 12.90M | 291.20M | 190.50M |
Balance Sheet | |||||
| Total Assets | 3.97B | 4.06B | 3.70B | 3.33B | 2.84B |
| Cash, Cash Equivalents and Short-Term Investments | 149.70M | 268.00M | 299.90M | 179.60M | 122.80M |
| Total Debt | 1.57B | 2.09B | 1.87B | 1.45B | 1.24B |
| Total Liabilities | 2.26B | 2.77B | 2.50B | 1.95B | 1.71B |
| Stockholders Equity | 1.70B | 1.28B | 1.18B | 1.37B | 1.12B |
Cash Flow | |||||
| Free Cash Flow | 231.50M | 244.60M | 198.40M | 293.80M | 167.90M |
| Operating Cash Flow | 494.50M | 409.60M | 350.10M | 439.90M | 286.80M |
| Investing Cash Flow | -261.00M | -327.70M | -226.80M | -267.00M | -405.90M |
| Financing Cash Flow | -338.70M | -120.00M | -3.10M | -121.20M | 77.40M |
ALS Technical Analysis
Negative
22.39
Price Trends
22.25
Negative
22.40
Negative
22.44
Negative
Market Momentum
-0.21
Positive
38.97
Neutral
15.96
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ALQ, the sentiment is Negative. The current price of 22.39 is above the 20-day moving average (MA) of 22.09, above the 50-day MA of 22.25, and below the 200-day MA of 22.44, indicating a bearish trend. The MACD of -0.21 indicates Positive momentum. The RSI at 38.97 is Neutral, neither overbought nor oversold. The STOCH value of 15.96 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:ALQ.
ALS Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$2.95B | 22.56 | 22.77% | 3.72% | 29.43% | 50.05% | |
67 Neutral | AU$3.62B | 22.26 | 23.03% | 2.38% | 31.39% | 451.49% | |
65 Neutral | AU$1.83B | 22.35 | 11.89% | 0.77% | 20.56% | 43.97% | |
65 Neutral | AU$4.73B | 17.33 | 48.18% | 4.23% | -1.03% | 8.70% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | AU$11.08B | 33.02 | 18.86% | 1.99% | 10.69% | 19.77% | |
59 Neutral | AU$4.34B | 20.06 | 11.01% | 4.41% | -7.37% | 59.81% |
* Industrials Sector Average
AU:ALQ
ALS
21.33
2.59
13.81%
AU:DOW
Downer EDI Limited
6.62
-0.23
-3.33%
AU:IMD
Imdex Ltd
3.50
0.21
6.51%
AU:MND
Monadelphous Group Limited
29.05
8.34
40.24%
AU:NWH
NRW Holdings Limited
7.78
3.42
78.56%
AU:VNT
Ventia Services Group Limited
5.74
0.92
19.11%
ALS Corporate Events
ALS CEO sells shares to cover tax on incentive awards
Aug 5, 2026
ALS Limited has disclosed that its Managing Director and CEO, Malcolm Deane, has sold 60,944 ordinary shares in the company to meet personal tax obligations linked to awards under its Long Term Incentive Plan and Short Term Incentive Deferral Plan...
ALS Director Malcolm Deane Receives New Performance Rights Under 2026 LTI Plan
Aug 3, 2026
ALS Limited has disclosed a change in the interests of director Malcolm Deane, reflecting the grant of additional equity-based incentives under the company’s long-term incentive framework. Deane received 123,270 new performance rights under ...
ALS Issues New Unquoted Equity Rights Under Employee Incentive Scheme
Aug 3, 2026
ALS Limited has notified the market of the issue of unquoted equity securities under its employee incentive schemes, comprising 724,836 performance rights and 44,656 service rights. The rights were granted on July 28, 2026, and are not intended to...
ALS Limited Announces Resignation of Long-Serving Non-Executive Director
Jul 29, 2026
ALS Limited has announced the resignation of Non-Executive Director John Mulcahy, effective 28 July 2026 following the company’s Annual General Meeting. Mulcahy, who joined the board in 2012, has been recognised by the board for his leadersh...
ALS shareholders back all resolutions at 2026 AGM
Jul 29, 2026
ALS Limited has reported the formal results of its 2026 Annual General Meeting, confirming that all resolutions put to shareholders were carried on a poll. The meeting outcomes included the adoption of the remuneration report, the election and re-...
ALS Targets Safety Leadership and Digital “Smart Labs” to Drive Record Performance
Jul 27, 2026
ALS Limited is a global testing, inspection and certification provider, delivering laboratory-based analytical services to clients across a range of industries. The company targets operational excellence and technology-led innovation, using digita...
ALS Delivers Record FY26 Results and Accelerates Global Lab Expansion
Jul 27, 2026
ALS Limited reported a record FY26 financial performance, achieving its previously set FY27 financial target a year early amid geopolitical uncertainty. The group’s underlying NPAT rose 25.8% to $381.2 million, revenue increased 10.7%, and E...
ALS updates director equity holdings under incentive plans
Jul 7, 2026
ALS Limited has reported changes in the equity interests of director Malcolm Deane, reflecting movements in performance rights, service rights and ordinary shares under the company’s incentive plans. The disclosure highlights the use of long...
ALS issues 77,170 unquoted service rights under employee incentive plan
Jul 7, 2026
ALS Limited has notified the market of a new issue of unquoted service rights under its employee incentive scheme. The company, which trades on the ASX as ALQ and provides testing, inspection and certification services to industrial and environmen...
ALS Limited Expands Share Capital Through Option Conversions
Jul 7, 2026
ALS Limited has disclosed the issuance of 784,673 new ordinary fully paid shares following the conversion or exercise of previously unquoted equity securities. The shares were issued on July 1, 2026, and the notification was lodged with the Austra...
ALS Limited Reports Lapse of Performance and Service Rights
Jul 7, 2026
ALS Limited has disclosed changes to its issued capital following the lapse of certain conditional securities. The company reported that a total of 325,457 performance rights and 2,446 service rights ceased to exist after their respective conditio...
ALS Clarifies Executive Termination Notice Period in Remuneration Report
Jun 26, 2026
ALS Limited has issued a clarification to its recently released Remuneration Report regarding the termination notice period for executive Malcolm Deane. While ALS and Deane are contractually aligned on a mutual 12‑month notice period, the re...
ALS details FY26 sustainability reporting and alignment with global standards
Jun 26, 2026
ALS has released its FY26 Sustainability Review, outlining its approach to sustainability, key actions and material issues for the year ended 31 March 2026, as approved by the board on 15 May 2026. The review details how ALS measures and reports i...
ALS updates governance framework and reinforces diversity and board oversight
Jun 26, 2026
ALS Limited has released its Corporate Governance Statement for the year ended 31 March 2026, confirming that its governance framework continues to meet or exceed the ASX Corporate Governance Council’s Principles and Recommendations. The boa...
ALS Files Updated Corporate Governance Statement and Appendix 4G With ASX
Jun 26, 2026
ALS Limited has lodged its updated corporate governance statement for the financial year ended 31 March 2026, confirming that the document is current as of 26 May 2026 and available on its website in accordance with ASX listing requirements. The f...
ALS outlines scope and limitations of its 2026 annual report
Jun 26, 2026
ALS Limited’s latest annual report outlines general information on its operations, activities and financial performance for the year ended 31 March 2026, emphasizing that the document is informational and not tailored investment advice. The ...
ALS updates details of March 2026 half-year dividend
Jun 24, 2026
ALS Limited has updated shareholders on the details of its latest dividend for the six-month period ended 31 March 2026, confirming that the payout will be made on its ordinary fully paid shares. The company reiterated that dividends will be paid ...
ALS updates dividend details and appoints third-party for share purchases
Jun 16, 2026
ALS Limited has updated its previously announced dividend notification for the six-month period ended 31 March 2026 relating to its ordinary fully paid shares. The company has reiterated that dividends will be paid in cash via direct credit to sha...
ALS Director Catharine Farrow Acquires 4,200 Shares in On-Market Trade
Jun 1, 2026
ALS Limited has disclosed a change in director Catharine Farrow’s interests, reporting that she has acquired 4,200 ordinary shares in the company via an on-market trade. The purchase, valued at about $100,425, brings her direct holding in AL...
ALS Director Increases Direct Shareholding Through On-Market Purchase
Jun 1, 2026
ALS Limited has disclosed a change in the shareholding of director Leslie Desjardins, who increased her direct holding in the company through an on-market trade. Desjardins acquired 1,200 ordinary shares for approximately $28,300, lifting her tota...
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.