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Macmahon Holdings Limited (MAH) Share Price & Analysis
MAH Stock Chart & Stats
- Day’s Range
- AUD 0.98 - AUD 1.05
- 52-Week Range
- AUD 0.47 - AUD 1.17
- Previous Close
- AUD 1.02
- Volume
- N/A
- Average Volume (3M)
- 6.02M
- Market Cap
- AUD 2.13B
- Enterprise Value
- AUD 2.19B
- Total Cash (Recent Filing)
- AUD 309.65M
- Total Debt (Recent Filing)
- AUD 420.74M
- Price to Earnings (P/E)
- 20.7
- Beta
- 1.63
- Next Earnings
- Feb 22, 2027 (Est.)
- EPS Estimate
- 0.03
- Last Dividend Ex-Date
- Sep 18, 2026
- Dividend Yield
- 2.25%
Bulls Say, Bears Say
Bulls Say
Revenue And EBITA Growth
Strong revenue and EBITA growth indicates continued demand for Macmahon’s mining and infrastructure services. The combination of higher activity and modest margin improvement supports expanding earnings capacity, while FY27 guidance implies that growth can continue over the next several quarters.
Lower Leverage And Strong Liquidity
Debt reduction and substantial liquidity improve Macmahon’s resilience and financial flexibility. A stronger balance sheet can support planned capital expenditure, provide capacity for contract growth, and reduce the risk that borrowing needs constrain operations if industry conditions become less favorable.
Contract Visibility And Market Expansion
A sizable order book and multiple recent contract wins provide meaningful forward revenue visibility for a project-based contractor. Growth in Underground and Civil also broadens Macmahon’s service offering, supporting greater scale and reducing reliance on a single operating segment over time.
Bears Say
Gold Revenue Concentration
Gold’s large share of group revenue creates structural exposure to commodity-cycle conditions and customer spending linked to gold projects. If gold prices weaken or project economics deteriorate, contract awards, activity levels and revenue stability could be pressured across the business.
Thin And Pressured Margins
The shift toward lower-margin civil and underground work can limit operating leverage even when revenue grows. Thin net margins leave less protection against cost inflation, execution issues or weaker contract economics, making sustained profitability dependent on disciplined delivery and favorable mix.
Tender Conversion Uncertainty
A large tender pipeline does not automatically translate into contracted revenue, and uncertain conversion creates risk around the timing and scale of future growth. Existing contract changes may also reduce expected revenue unless new awards replace that work, increasing planning uncertainty.
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Macmahon Holdings Limited Stock Smart Score
Company Description
Macmahon Holdings Limited
Macmahon Holdings Limited, founded in Perth, Australia, in 1963, delivers comprehensive mining and civil construction services to companies within the mining sector. Its operations span Australia, Indonesia, Malaysia, and South Africa, structured across three key segments: Surface Mining, Underground Mining, and International Mining. In its Surface Mining division, Macmahon offers a broad spectrum of services including strategic mine planning and analysis, drilling and blasting, bulk and selective ore extraction, crushing and screening, fixed plant maintenance, water management, and complete equipment operation and upkeep. For Underground Mining, its capabilities encompass mine development and production, raise and production drilling, cable bolting, shotcreting, remote shaft lining, and shaft sinking. The company further extends its expertise to significant civil infrastructure projects. This includes extensive earthworks such such as topsoil and overburden stripping, bulk excavation, road design and construction, and the establishment of train loading facilities. Additionally, Macmahon constructs water infrastructure, including dams, creek diversions, flood levies, and drainage systems, alongside providing revegetation services, non-process infrastructure development, and ongoing rehabilitation monitoring and maintenance. Specialized engineering services are also provided, covering shaft lining and maintenance, emergency egress systems, pump stations and rising mains, site workshops and infrastructure, as well as conveying, crushing, and materials handling solutions. Complementing these core offerings, Macmahon delivers equipment maintenance and management support, coupled with advisory services focused on operational enhancement. These include operator coaching and training, cultural change programs for employees, and expert assistance with mine planning, maintenance strategies, and employee engagement initiatives.
- Sector
- Basicmaterials
- Industry
- Industrial Materials
- CEO
- Michael John Finnegan
- Employees
- 8,796
- Website
- www.macmahon.com.au
- Address
- 15 Hudswell Road, Perth, WA, 6105, AU
Macmahon Holdings Limited (MAH) Earnings & Revenues
MAH Company Deck
MAH Earnings Call
Earnings Call SentimentPositive
The call conveyed a strongly positive operational and financial performance: record revenue and EBITA, improved ROACE (22%), substantial cash generation, a 32% reduction in net debt, higher dividends (up 47%), and clear segment diversification progress (Underground and Civil growing to meaningful shares of revenue). Key risks highlighted include tax timing reducing free cash flow, higher borrowing costs, concentration to gold (52% of revenue), commodity/energy cost pressure, and the normal uncertainty around tender conversion and timing. Overall the positives (record results, improved returns, balance sheet strength, robust pipeline and clear growth targets) materially outweigh the identified lowlights.
View all AU:MAH earnings summariesMAH Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 5 | 6 | 11 |
| Technical Analysis | 3 | 6 | 1 |
| Moving Averages | 2 | 0 | 10 |
